WikiFX Reviews Plus500

With a global reach, WikiFX is a regulatory query platform for forex brokers, having scrutinized and evaluated over 47,000 brokers while maintaining close collaboration with more than 30 national regulators. For a deeper understanding of the security and credibility of your chosen brokers, we encourage you to visit www.wikifx.com or download our free app from Google Play or the App Store.

Plus500's official website is https://www.plus500.com/.

Our WikiFX database states that Plus500 has a relatively high WikiScore of 7.64, meaning it is a fairly low-risk and reliable broker.

Plus500, a prominent global fintech group, operates advanced technology-driven trading platforms catering to diverse assets. Its comprehensive suite of trading products includes Contracts for Difference (“CFDs”) and Share dealing, with Plus500US specifically offering futures trading in the United States. As a testament to its stature, Plus500 holds a premium listing on the esteemed Main Market of the London Stock Exchange, denoted by the symbol “PLUS”. It is proudly recognized as a constituent of the FTSE 250 index.

The renowned Plus500 trading platform is provided by Plus500SEY Ltd, which serves as the issuer and distributor of the financial products featured on this website. With its headquarters situated in Victoria, Plus500SEY Ltd is a Seychelles-based company.

Upon examining Plus500's licenses, WikiFX found that this company is a high-regulated broker as it holds several valid licenses issued by well-recognized regulatory bodies, such as ASIC, CySEC, FCA, FMA, and MAS.

Market instruments:

Plus500 offers a wide range of market instruments to trade, including forex, indices, commodities, cryptocurrencies, shares, ETFs, and options.

Educational resources:

On the Plus500 platform, users can access a collection of well-produced videos that provide concise explanations of fundamental concepts. However, it is worth noting that the available video library is limited to approximately ten videos. While these videos offer valuable insights, there is room for improvement in this area, and Plus500 could consider expanding its video resources to cover a broader range of topics.

Furthermore, it's important to mention that the existing videos are currently only available in English. To enhance accessibility and cater to a wider audience, Plus500 might consider supporting additional languages in their video content, allowing users from different regions to benefit from these educational resources.

Types of accounts:

Plus500 provides a range of account options to cater to the diverse needs of its users:

1. Demo account: Before fully committing to trading on Plus500, it is recommended to explore their demo account. This allows users to familiarize themselves with the platform, test different CFDs, and gain experience without risking real money. It is particularly beneficial for beginners who want to experiment with trading strategies.

2. Plus500 account: Once users have gained confidence and are ready to engage in actual trading, they can open a standard account with Plus500. This account type offers leverage ratios ranging from 1:2 to 1:30, depending on the specific instruments traded and the user's country of residence. It's important to note that the leverage ratio cannot be modified.

3. Professional account: Plus500 also offers professional accounts for users who meet specific criteria. These accounts provide a higher level of leverage, which entails increased risk. To be eligible for a professional account, users must meet particular requirements, including averaging at least 10 trades per quarter with a certain value, maintaining over $500,000 (or equivalent) in investments, and possessing professional experience in the financial sector.

Trading platforms:

The proprietary trading platform offered by Plus500 for CFDs is characterized by its simplicity, intuitiveness, and user-friendly interface.

The web trading platform of Plus500 is designed to be easily navigable and user-friendly. It features a clean, visually appealing design complemented by well-defined product search functions. Even for first-time users, the platform's straightforward navigation and analytical interface allow for swift adaptation and seamless execution of trading strategies.

The Plus500 WebTrader platform operates directly through a web browser, eliminating the need for downloading or installing specific software on a personal computer. All that is required is a stable internet connection. To begin using the platform, users can log in securely with their account credentials or use their existing Google or Facebook accounts.

In addition to the WebTrader platform, Plus500 offers a highly regarded mobile trading experience that is well-suited for Android, iPhone, or iPad devices. The mobile platform has received excellent ratings, being recognized as one of the best apps for CFD trading on both Apple's App Store and Google Play. The Plus500 mobile trading platform provides essential tools and offers complete control over users' accounts and positions, ensuring convenient accessibility on the go.

Deposit and withdrawal methods:

Plus500 offers a diverse range of payment methods to cater to its users' preferences. These methods include wire transfers, credit/debit cards, Skrill, PayPal, Trustly, Apple Pay and various local payment options which may only be available to users in certain countries, such as iDeal, Bpay, Klarna, Giropay, Trustly, Przelewy24, Multibanco, and Blik.

Fees and charges:

While Plus500 maintains pricing that aligns with the industry average, it falls behind the top forex brokers regarding active trader pricing. It's important to note that Plus500 offers no discounts to retail clients. However, for those who meet the requirements and are classified as Professional clients, the company does provide cash rebates similar to an active trader program. If you qualify as a Professional client, you may be eligible for advantageous cash rebate offers from Plus500.

Customer Service:

Plus500 provides a comprehensive customer service support system. Trading clients can easily seek assistance 24 hours a day via Whatsapp, email, or online chat.

Overall, Plus500 is a good choice for traders looking for a well-established and reputable broker with a wide range of market instruments and trading platforms. The company is regulated by several financial authorities, which gives traders peace of mind knowing their funds are safe.