Plus500 is an international fintech firm that specializes in online trading services, specifically contracts for difference (CFDs).
Plus500’s vision is to be the number one global CFD provider, while “continuing to lead in technology and innovation, and attracting new and existing customers.”
General knowledge of Plus500
Plus500 was founded in 2008, with the launch of its PC-based online trading platform. By 2011, Plus500 Group had over 2,000,000 monthly transactions. In 2013, Plus500 Ltd went public in the AIM section of the London Stock Exchange. In the same year, the Plus500 Group introduced the world’s first Bitcoin CFD.
Circa 2018, Plus500 Ltd joined the UK FTSE 250 index of leading mid-cap listed companies. Two years later in 2020, the Plus500 Group signed sponsorship deals with three major football clubs – the Swiss Super League champions BSC Young Boys, Poland’s champions Legia Warsaw and Atalanta B.C.
Secure online trading
This is in line with Plus500’s customer due diligence process. Members need to submit ID documents too. This provides peace of mind to all users of the platform because there is no way around the verification process meaning everyone on the platform is contact traceable.
“Any trading method which is prohibited under the terms of the User Agreement such as scalping, automated data entry system, and hedging, or which falls under the definition of market abuse such as insider trading, as well as any prohibited activity such as an abuse of our bonus system, is not allowed on our trading platform,” says Plus500.
Plus500 reserves the right to close the account suspected of malicious activity.
The majority of Plus500’s services are free. However, the fees they do charge are upfront, and customers are given transparency as to what they will and won’t have to pay for. Customers won’t be charged for deposits and withdrawals, most payment processing fees are covered, there are no dealing commissions,
Additional fees will be applied to:
- Overnight funding
- Currency conversion fee
- Guaranteed stop order
- Inactivity fee
Fees may be incurred when transferring money to and from their Plus500 account. This is decided by an individual’s payment issuer or bank and is out of Plus500’s control.
Plus500 gains its compensation from the bid or ask spreads.
The Trading Platform enables clients to trade on movements in the price of shares, cryptocurrencies, indices, commodities, forex, ETFs, and options without having to buy or sell the underlying instrument.
“When you open a position, you essentially “pay” the spread. This spread is incorporated into the Plus500 quoted rates and is not an additional charge or fee payable by you above the quoted rates,” says Plus500’s website.
How to view the spread for a specific instrument:
- Log in to your account.
- Search for a specific instrument.
- Click on the Details icon (i) and scroll down to the Info section.
- Plus500 is one of the highest-rated CFD trading apps on Apple’s App Store and Google Play
- Free withdrawals
- Intuitive withdrawal process
- Low minimum account balance
- Quick account-opening process
- Few service fee charges
- A leader within the CFD sector in mobile innovation and customer satisfaction
- offers an extensive product line including equities, cryptocurrencies, options, and stock indexes.
- Plus500 Ltd is listed on the London Stock Exchange’s Main Market for Listed Companies and is headquartered in Haifa.
- Tight spreads
- No commissions
- Leverage of up to 1:30
- Fast and reliable order execution
Plus500 is well on its way to achieving its goals
In 2012, the Plus500 Group set the goal of becoming the world’s number CFD trading company. It can be said that Plus500 is well on its way to being just that. With the extensive range of financial instruments, the dedication to creating a secure online trading space, the innovative services, and few fees — it would be difficult to compete with Plus500 for this title.
If you’re a British day trader and you have an iPhone, then you should get in with Plus500. The service has the full feature for iOS users, including support for iPhones, iPads, and even the Apple Watch.
Plus500 provides the usuals – a free demo package, zero-commission trading, and tight spreads. The app’s interface is seamless, and you can check out graphs and charts conveniently.