|Plus500 is one of the most trusted site if you want to trade CFD on Options, Forex, Crypto, etc. They accept Australians and the minimum deposit is really low.
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Plus500 is a reputed site, where you can trade CFDs (options, forex, crypto, indices etc.).
Plus500AU Pty Ltd. has a licence issued by ASIC (Australian Securities & Investments Commission) and the licence number is AFSL # 417727. This means that they can legally operate in Australia.
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
Plus500 is a CFD provider, and they do not offer binary options trading.
The site accepts traders from Australia, New Zealand in addition to other countries, however Plus500 does not offer its services in the United States.
Let us get into the Plus500 review and explore how they perform in other areas.
A trader can sign up for 2 types of accounts with Plus500, either a demo account or a live account. The demo account can be activated with no underlying charge at all while the live one requires a minimum initial deposit of 100 AUD before activating. The maximum leverage assigned to forex accounts is at 1:300.
Plus500 gives its traders access to one of the most intuitive, unique, and user-friendly trading platforms as well as technical analysis. Its platform allows you to access a plurality of markets on the same screen, while also supplying real-time information on quotes on each of the assets being traded.
The list of instruments you can trade on the Plus500 platform is big. It includes CFDs on foreign exchange, cryptocurrencies, commodities, stocks, ETFs, and indexes.
Apart from being easy to use even for a first time trader, the platform offers another big benefit. It has an all-inclusive trading screen with top mounted tabs containing details on completed trades and existing positions as well as numerous opportunities for trading in markets.
Charts can also be referred on the platform although they will have to be viewed separately as the software for that does not permit the same screen to show more than one graph.
There are different existing versions of Plus500’s trading platform. There is a downloadable version intended to work on your desktop computer or laptop or any other, the App version will make the platform accessible from your Android or iOS mobile device, and also you Apple watch.
Deposits and Withdrawals
There are multiple ways by which you can fund your Plus500 account. We have listed them below.
- Wire transfer
We recommend either Visa or MasterCard over the others as they are a faster way to commence trading. However, supporting your account using MoneyBookers/Skrill is no less difficult. Making a deposit by wire transfer is also a simple task but the processing time takes up to 5 days to complete.
You will get an email so you can keep tabs on the details. As we stated earlier, your initial deposit needs to be at least $100 (or $500 for wire transfers). Also, the details of the wire transfer will be forwarded to your bank along with the minimum and maximum sum that can be deposited through a wire transfer.
When it comes to making a withdrawal, you can get an idea of how strict the regulations are when you take a look at the elementary requirements attached to it. A customer must provide a photo ID either from their passport, driver’s licence or another official identity document and also verify their address.
It will not be too a tedious a task since you can upload the information as a pdf, tif, jpeg, or file directly onto the Plus500 trading platform. You will have to wait an additional 24 hours for the files to be reviewed. On the off chance that your identity document cannot be scanned, you can simply photograph with your camera or smartphone.
Customer support from Plus500 can be accessed via email and also an online chat forum in multiple languages. The services are available 24 hours a day at 7 days a week. The reason we have not mentioned telephone support is that that option is not available here.
However, it will only be an issue if, by some chance, a trader loses their internet connection or their pc crashes. Apart from that though, the service runs reliably and smoothly.
Plus500 is one of the most widely recognized trading sites around.
Plus500AU holds Australian Financial Services Licence #417727 and Derivatives issuer licence in New Zealand, FSP No. 486026, thus authorized to provide its services to Australian and New Zealand residents. Plus500AU is also an Authorized Financial Services Provider # 47546 in South Africa.
In addition, Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
In our experience it is always better to open a trading account with an authorized provider, rather than an unauthorized one.
So long as you are a trader from Australia or New Zealand, we would very much recommend Plus500 as an extremely competent and quality site to trade with. New traders particularly will find the demo account very resourceful, for getting their eye in with the market and developing sound trading instincts, without having to put their own funds on the line.
Meanwhile, the more experienced traders can benefit off of the tight dealing spreads and attractive bonuses on hand for their initial deposits. The platform itself is substantive and is remarkably simple to navigate.