Plus500 is an online brokerage platform that allows users to trade CFDs (Contracts for Difference) on various financial instruments. Here are some key features and aspects of Plus500:
• Range of Instruments: Plus500 offers a wide range of financial instruments for trading. Users can trade CFDs on forex currency pairs, stocks, indices, commodities, ETFs, options, and cryptocurrencies. This allows traders to speculate on the price movements of these instruments without owning the underlying assets.
• Trading Platforms: Plus500 provides its proprietary trading platform, which is accessible via web browser and mobile devices. The platform offers a user-friendly interface, real-time market data, advanced charting tools, and a range of order types to execute trades. The real account is suitable for experienced traders only, while beginners could practise trading on Plus500’s demo account. Though Plus500 is a very user-friendly platform, CFDs are complex financial products.
Account Types: Plus500 offers a single account type for retail clients. Users can open a live trading account with a minimum deposit, typically varying depending on the jurisdiction. Demo accounts are also available for users to practice trading with virtual funds.
• Regulation and Security: Plus500 operates under various entities, each regulated by different financial authorities depending on the jurisdiction. For example, Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and Plus500CY Ltd authorized & regulated by CySEC (#250/14). Regulatory oversight provides a certain level of security and client protection.
• Educational Resources: Plus500 offers educational resources to help users enhance their trading knowledge. These resources may include tutorials, guides, and a comprehensive FAQ section on their website. However, the educational resources provided by Plus500 are generally more limited compared to other brokers.
• Customer Support: Plus500 provides customer support services to assist users with their inquiries and technical issues. Plus500 offers customer support via live chat, email and WhatsApp.
• Risk Management Tools: Plus500 offers risk management tools to help users manage their trading risks. These tools may include stop-loss orders, take-profit orders, and guaranteed stop-loss orders (available for an additional fee), which can help limit potential losses and protect profits.
It’s important to note that trading CFDs involves risks, and users should be aware of the potential losses involved. It is advisable to carefully consider your trading objectives, risk tolerance, and seek independent financial advice if needed before engaging in trading activities. Additionally, users should thoroughly review the terms and conditions of the platform and understand the costs associated with trading, such as spreads, commissions, and overnight financing charges.
“86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.”