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- >Plus500 Review: Best CFD Broker for Bitcoin?
- Free demo account for new traders
- Slick set up for new crypto users
- Trade the most popular assets in the world using CFDs
- Tight spreads with no commissions
- All the top cryptocurrencies including Bitcoin, Ethereum and Solana available through CFDs
Plus500 Pros & Cons
Pros
User-friendly platform suitable for new Bitcoin traders
Over 2,000 assets available for trading
Minimum deposit of $100
Features a guaranteed stop-loss order
Regulated by the UK’s Financial Conduct Authority (FCA)
Comes with a free demo account
Cons
There is no support for automated or social trading
Not available to US residents
Research and educational resources could be better
History of Plus500
Since its inception in 2008, Plus500 has built a long-standing reputation for being the leading online platform for trading CFDs. The platform was founded by a team of six alumni of the Israel Institute of Technology.
The team is comprised of experienced financial professionals with a shared vision of providing an intuitive and user-friendly trading platform for all types of investors. With an initial investment of only $400,000, the team has grown Plus500 into a multi-million dollar business with over 500,000 clients worldwide according to reports.
In 2011, Plus500 became the first company to offer online trading of Contracts for Difference (CFDs) on commodities and indices. The following year, they were the first company to offer CFDs on Bitcoin. In 2015, they became the first company to offer an Islamic account, which is a special account type that is compliant with Sharia law.
Plus500 has continued to innovate and expand its product offerings over the years thus establishing a reputation for being one of the most popular online trading platforms, with active users from more than 50 countries. Plus500 is regulated by the Financial Conduct Authority (FCA) in the UK and is also listed on the London Stock Exchange.
Plus500 Funding Methods
Plus500’s funding methods are limited to five and are available depending on geographic location.
One of the most popular methods is using a credit or debit card. This method is quick and easy, and it allows users to instantly fund their accounts and begin trading.
Another popular option is using a bank transfer. This method is usually faster than using a card, and it can often be done online or over the phone. However, it may take a few days for the funds to appear in your account. Finally, Plus500 also accepts PayPal as a funding method. This is one of the quickest and most convenient ways to fund your account, and it also offers buyers protection against fraud.
Sign-up Process
To start trading on Plus500, you will first need to sign up for an account. The account sign-up process is quick and easy and can be done entirely online.
You will need to provide your personal details, such as your name, copy of ID or passport, and address, as well as some basic information about your trading experience. The next step is account verification, and once you have completed the sign-up form, you will be able to log in to your account and start trading. Plus500 also offers a demo account, which allows you to practice trading with virtual money before risking any real capital.
What Cryptocurrencies Can You Buy?
Plus500 offers its clients the ability to trade on a wide range of over 10 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Uniswap, and Chainlink.
Here is a full list of coins you can trade on Plus500:
- Ethereum
- Bitcoin
- Litecoin
- Stellar
- Bitcoin Cash
- Cardano
- NEO
- EOS
- IOTA
- Solana
- VeChain
- Polygon
- Axie Infinity
- Polkadot
- Uniswap
- Filecoin
- Chainlink
Clients can trade cryptocurrency CFDs with leverage and take advantage of market price movements in either direction. Plus500 also offers a product called the Crypto10 index, which is an index that follows the performance of the top 10 cryptocurrencies in the market.
Is Plus500 Safe?
When it comes to online trading, one of the key considerations is safety. After all, you’re trusting a company with your hard-earned money, so you want to be sure that it’s safe and reliable.
Overall, Plus500 is safe. It is one of the leading online trading platforms and boasts a long-standing safety record. This is a publicly listed company on the London Stock Exchange, and it is regulated by multiple financial authorities, including the UK’s Financial Conduct Authority (FCA). Plus500 also takes measures to safeguard client funds, keeping them segregated from company funds that are held within tier 1 banks. In addition, Plus500 employs robust security measures to protect its website and data from unauthorized access. So overall, Plus500 is a very safe and secure option for online trading.
Plus500 Customer Service
If you’re looking for a top-notch customer service experience, Plus500 is the broker for you. Customers who have been using Plus500 for online trading admit that the platform offers a customer service team that is always incredibly helpful, knowledgeable, and responsive.
The customer service team is available 24/7 via live chat, email, or phone, and they are always quick to resolve any issues that may arise. In addition, Plus500 also offers a comprehensive FAQ section on its website that covers all the basics of online trading.
Plus500 Fees
To begin with, Plus500 offers traders commission-free trading. However, the platform features higher spread mark-ups of 0.8 pips or $8 per 1 standard lot.
Compared to alternatives in the market, Plus500 charges between25% to 50% more. The main reason for this is that the platform only offers CFD trading. Nevertheless, with an average spread of 0.5 pips on EUR/USD and 1 pip on GBP/USD, the broker is still considered as having low or competitive spreads in the industry.
Plus500 also doesn’t charge a fee on deposits or withdrawals, but a currency conversion fee of 0.7% applies. Also, be prepared to pay third-party payment processor costs. The best move here is to avoid making frequent withdrawals.
Plus500 Frequently Asked Questions
Yes, Plus500 is safe. It is one of the leading online trading platforms and boasts a long-standing safety record.
The Plus500 minimum deposit is $100.
To withdraw money from your Plus500 account, log in to your account and go to the “My Account” section. Then, click on “Withdraw” and enter the amount you wish to withdraw.
To deposit money into your Plus500 account, log in to your account and go to the “My Account” section. Then, click on “Deposit” and enter the amount you wish to deposit. You can use a Bank Transfer, Skrill, PayPal, POLi, Goggle Pay as well as Visa and Mastercard credit/ debit cards.
Plus500 doesn’t charge any commissions on trades.
Plus500 doesn’t charge any fees for deposits or withdrawals. However, a currency conversion fee of 0.7% applies. Also, be prepared to pay third-party payment processor costs.