One of the oldest, best-known and most popular brokers for the exclusive trade with CFDs (difference contracts) is definitely Plus500. We have taken a close look at the company, which has often been found in the media since time immemorial, and explained in our field report what interested traders should pay attention to. After an estimate to the plus500 seriousness we deal strengthened with the actual offer of this CFD service and show, which factors decide whether a registration with the Top broker is worthwhile or rather not.
Background: so serious is plus500
His roots plus500 in Great Britain. There also the behind it standing enterprise Plus500 UK Ltd. is announced. Plus500 is a Tradinggesellschaft, which attaches its offer meanwhile in many countries of the world. The CFD broker went after the enterprise establishment 2008 one year later to the start and was at that time the first enterprise, which offered the trade with CFDs completely free of charge. At the time, this was a real innovation and brought the company many satisfied and loyal customers. In the meantime, trading with difference contracts is possible in over 2,000 markets. Plus500 has been available in over 20 languages for several months and attracts interested new customers worldwide. Plus500 is also the main sponsor of the Spanish football club Atletico Madrid, which won the Primera Division in the 2013-2014 season. This shows how much money is really behind the company.
According to Plus500, it is completely debt-free and has high liquidity. It is also worth mentioning that, in accordance with current legislation, customer funds are kept separate from company assets. Concretely this has the advantage for Trader that in case of a failure of plus 500 on a repayment of large parts of the own deposits can be hoped. Creditors have then no chance to come with the collection of the indebted funds to exactly these amounts.
Of course Plus500 is also regulated and authorized. This is done by the respective competent authorities of the Länder with the three main branches. In London, UK this is for Plus500 UK LTD the Financial Conduct Authority (FCA), in Sydney, Australia for Plus500 AU LTD the Australian Securities and Investments Commission (ASIC) and and Limassol, Cyprus for Plus500 CY LTD the Cyprus Security and Exchange Commission (CySEC) There one cares very exactly for all interests, which develop regarding Plus500. The financial supervisory authorities are subject to direct directives, for example from the European Union. The laws to be observed are therefore the same. The English authority in particular is known for its precise, strict and sound controls. Users of Plus500 can therefore assume that it is not fraud or rip-off and that there are no dubious business practices such as manipulating the figures.
Video preview of Plus500
In the following video you will find our experiences with Plus500 in the summary. We will also show you how the registration works and show you the first steps with the provider.
Click the video now to get a preview of Plus500:
Not all traders are completely satisfied with Plus500. A short Internet search or a look at the comments on the company’s Facebook page show that communication between Plus500 and its customers is not always flawless. For example, accounts are frozen without further explanation. On demand it becomes then clear that an account is transferred and it should be within fewer days again freely to acting be.
These and further examples make some dealers disgruntled. They do not trust Plus500 fully and make this also clear in various evaluations in the Wold Wide Web. Again and again however also becomes clear that plus500 is given the debt for the simple loss of money. Forex trading is a risky business in which a trader can quickly gain a lot of capital, but can also lose. Nobody has said that Plus500 can be seen as a kind of money printing machine. Therefore, critical comments must always be read and viewed with caution. If the Forex system does not lead to the desired success, it doesn’t mean that Plus500 is to blame.
The support in the test
In our test, of course, we also took a close look at all support options. Typically larger Forex brokers do not only offer a contact via email, but also a free phone number and sometimes a live chat. Questions and answers in the form of a FAQ are also communicated online.
Now, at Plus500 all this does not happen. In comparison to nearly all competitor providers, which we already tested, the service with Plus500 is extremely miserable. On a service number one does likewise without, like on a live Chat. Online there is not a single telephone number to be found, where you can contact Plus500 directly and clarify questions and problems personally. Instead a contact form is available, over which customers have to announce themselves to the offerer. In our experience report we would like to describe now also our opinion to this kind of the establishment of contact. Because in the test contact attempts were answered only after some working-days. We had the feeling to be held out here.
Nevertheless, most of our questions have been answered by using an Internet search engine. Thanks to Plus500, we noticed that direct support via customer service representatives is not absolutely necessary. This is not intended to excuse or protect the company’s poor customer service. We give you a bad mark.
On paper Plus500 is extremely serious. The company is growing and growing and now offers its services in various countries around the world. The fact that now even a large and well-known Spanish team can be sponsored shows, how healthy the enterprise is and how much capital really stands behind it. The regulations in two different countries of the European Union make it clear that Plus500 is serious. A deposit protection for the customer funds exists likewise, so that in case of an improbable failure of the enterprise funds are paid back guaranteed.
A little we worry concerning the evaluations of other customers. If it should be really usus to answer inquiries not or only insufficiently, then there is with plus500 a confidence problem. Also the quasi not existing customer support disturbs us in our evaluation extremely. Our experiences in this respect are also not intoxicating. We would like to recommend to the broker, who is internationally active and one of the first addresses for beginners and a risers is, to reconsider its policy regarding the customer support again.
The offer of Plus500
In second instance we exactly regarded ourselves the advantages, disadvantages, conditions and achievements of Plus500. To each subitem we provided a short evaluation which offers a comprehensive view, with which interested traders can decide for or against this broker. All details are based on our best knowledge and conscience after our personal test.
Devisen, CFDs und vieles mehr
Plus500 started as a pure Forex- and CFD-Broker. Meanwhile, traders also have the opportunity to trade other financial products such as indices, EZFs and commodities. It must be mentioned that CFD stock trading does not generate any commissions, which would have to be paid to Plus500. So not only forex traders should register, but also traders who want to try other financial products. Plus500 can be seen as a true all-rounder that has almost all important and interesting trading variants in its program. Over 2,000 markets are tradable.
medium_maximum_lever, fixed spreads
For Plus500, those responsible do not rely on a pure price-cost strategy that is intended to flatter users. With regard to fixed spreads, for example, comparatively high values from 2.0 pips for majors such as EUR/USD are requested. As a result, customers do not have the opportunity to quickly break into the profit zone and have to keep their investments a little longer. 2.0 pips are above average in direct comparison to other providers. Especially the brokers with a higher minimum deposit, who specialize in experienced traders, are significantly lower with their offers. For the beginning and for beginners Plus500 should be however in the framework. After some time however new ones would have to think about a change of the offerer.
The maximum lever, which is ordered in the Forex trade, is in the average range. Not all currency pairs are subject to the lever of 200:1, but this amount applies again to majors such as EUR/USD. The leverage is much lower for exotic currencies and currency pairs. For information, the maximum leverage for CFDs is also 200:1. For indices, Plus500 has slightly increased it to 300:1. ETFs, however, are assigned a maximum leverage of only 100:1.
The negative point first: the software MetaTrader 4, which is worshipped by many traders due to its clarity and individual adaptability, unfortunately cannot be used with Plus500. Instead, Plus500 provides its own web trader, which thanks to its fantastic structure makes it much easier for newcomers to trade foreign exchange.
In addition, Plus500 also has its own trading platform, which is available for download. All you have to do is register quickly with your trading data and you can trade directly on your own computer. In our test we find that this trading software is clearly more inflexible in comparison to the Webtrader. We would therefore recommend to perceive the offer directly in your browser.
Plus500 also provides you with a free app. This app is currently only available for Android and iPhone users. However, unlike many other providers, you can also trade on this. According to statistics recently published by Plus500, more than 40% of all trading transactions are now completed via the mobile app. However, we don’t want to promote the use of such an app. The price overviews are often very small and difficult to see. This makes successful trading more difficult.
Deposit and Withdrawal
Deposits at Plus500 can be made easily via bank transfer, credit card and various other services that promise a direct transfer of money to the online account. These include well-known payment systems such as Skrill, Giropay and Papal. Altogether we are very inspired by the abundance of different possibilities very much.
Outpayments are made in principle over the same ways, how the money is transferred also to on-line account. The most common method is the classic bank transfer. To judge the experiences of some customers the transfer of the funds does not run off however always completely smoothly. Plus500 often requests more and more documents and takes a lot of time to really check the submitted documents. Also we had in the test so some problems with our disbursement, found the money however at the end nevertheless on our account.
Bonus and special campaigns
Grundsätzlich Plus500 sees itself very open opposite new customers. To the greeting receive all, which provide an account with the probably largest Forex broker, a 25 euro announcing bonus given. These can be used, without having to carry out also only one deposit. At the market Trader with 25 euro do not come particularly far, nevertheless this is Bonus without deposit a nice gesture of plus500.
For the first deposit customers receive a bonus, which depends on the deposited amount. Here there is a staggering between a deposit between 100€ and 50.000€.
- minimum deposit 100€ – bonus amount 30€ – 50 TPoints – bonus code FIRST100
- minimum deposit 500€ – bonus amount 150€ – 150 TPoints – bonus code FIRST500
- minimum deposit 1000€ – Bonus amount 200€ – 200 TPoints – Bonus code FIRST1000
- Minimum deposit 5000€ – Bonus amount 1000€ – 1000 TPoints – Bonus code FIRST5000
- Minimum deposit 10.000€ – Bonus amount 1500€ – 2500 TPoints – Bonus code FIRST10000
- Minimum deposit 50.000€ – Bonus amount 7000€ – 10000 TPoints – Bonus code FIRST50000
Minimum deposit 100 Euro
Also very fair is the low minimum deposit required by Plus500. Also private persons can trade so quickly and easily. The minimum deposit is 100 Euro. With such an amount interested private persons should not enter however into the Forex trade. The money can be split only with difficulty, since too small positions make no sense in trading. It is advisable to enter with at least 500 euro with the Forex broker.
Over 50 currency pairs available
It is not interesting for Forex trading that a total of over 2,000 Marks can be traded. Forex trading takes place at Plus500 with over 50 currency pairs. In addition to the majors, there are also some exotic pairs. According to our experience, the list is constantly being expanded.
No area of education, but demo account
Plus500 is badly equipped in terms of training opportunities. There are only a few articles and information texts about what Forex trading actually is. Webinars, seminars, videos and eBooks were completely renounced. Small ray of hope: it is supplied a free demo account, which can be used unlimitedly.
overall evaluation: So good is plus 500
One of the largest Forex brokers in the German-speaking countries left with our test a rather mediocre impression. While the basic offer, the internationalization and the background check were quite positive, the Forex Broker saves at important places, like for example the training further possibilities and the customer support. Therefore, more experienced traders, who don’t need any help from employees, should rather register.
I am impressed by Plus500! The play money account is really useful in connection with reading to the topic Forexhandel and helped me to gain a foothold with the trade with currencies first of all. I find the trading software very clear and intuitive to use. I’m a little worried about the rates, which seem to update after some time. My purchases and sales are not always processed directly in real time. However, this changes when you choose major rates such as the US dollar and the euro. Therefore I suggest beginners to try these currency pairs first.
written 22 months ago
Among Forex brokers, Plus500 is probably the one that advertises most actively and most rabatively. I don’t think the company’s promises can really be kept. I am disappointed about the customer support, which is only available via email. Questions are therefore only answered very sloppily. For beginners the Broker is however possibly nevertheless interesting, since there is a play money account, which is durably free of charge available. Small entrance hurdles make the broker in my opinion again more attractive and for all beginners really interesting. In addition comes a bonus system and an announcing bonus of 25 euro, which is available also without deposit equal.
written 17 months ago
Trading is associated with a high risk. But there is also the possibility to manage the trading risk. Plus500 offers a risk control tool for this purpose. So I have always influence and can indicate for example that with certain profits automatically is to be closed. I have also used the Price Warnings option. So actually not much can go wrong.
written 12 months ago
I looked around for a good broker and decided in the end for Plus500. An incentive for the registration was the point that I can trade there German positions without commission. I tried that out and it is really like that. However I had to deposit at least 100 euros.
written 11 months ago
Plus500 offers new customers a free demo account to practice on. I immediately used this for myself, tested the platform and tried out strategies. I think the demo account is very good. There acting is completely risk-free possible. Of course you can’t win in the demo either.
written 10 months ago
I registered with Plus500 at a convenient time. Because I received a 25 Euro bonus completely without deposit. I only signed up for a real money account in WebTrader. After confirmation of the phone number the bonus amount was credited to my account.
written 7 months ago
Securities trading is an interesting area for me. But since I still don’t know everything exactly, I have informed myself at Plus500 exactly about securities trading. All important factors are listed in the information material.
written 5 months ago