* CFD Service. Your Capital is at risk.
Review of Plus500
Last update: January 2018
Plus500 is a worldwide CFD (Contract for Difference) trading platform, offering a scope of contracts on financial assets, including Bitcoin and Ethereum.
Plus500 Ltd is listed on the AIM, section of the London Stock Exchange. It has been around predating the start of the bitcoin revolution. It was first to offer binary options trading on bitcoin in 2013. (Plus500 does not offer Binary trading anymore and currently offers CFD's on all major cryptocurrencies.
With a large and growing client base around the world, Plus500 is a worthy consideration for savvy investors looking to diversify in cryptocurrency.
To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, Plus500 offer a demo account that you can use to practice and familiarise yourself with their platform.
Being a regulated financial entity in the UK, Australia, Israel and Cyprus, the broker has given speculators more certainty to wander into the profoundly unpredictable and volatile world of digital currency.
Plus500 Bitcoin trading is not available to US residents due to regulatory and legal issues. Most CFD trading is not permitted in the USA because of the US Securities law.
Which crypto currencies are available?
In addition to offering CFDs for a range of financial assets, including shares, forex, indices, commodities, ETFs and options, Plus500 offers the following cryptocurrency pairs:
The above cryptocurrencies can be traded as “pairs” against the US dollar. For example, Ethereum is accessed as a ETH/USD (Ethereum-to-US Dollar) position.
Countries of Operation
Plus500 is available in more than 50 countries worldwid, excluding the United States.
Available funding methods
Most CFD Brokers, and Plus500 is no different, offer numerous convenient payment options:
Regulated by the Financial Conduct Authority, UK (FRN: 509909), CySEC (Licence: 250/14), ASiC (AFSL #417727), and Derivatives issuer licence in New Zealand, FSP No.486026. Plus500 puts all client funds in a segregated bank account and uses tier-1 banks for this. Plus500 have been established since 2008, and have a head office in UK.
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). Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents.
Is Plus500 Safe?
Plus500's subsidiaries are fully regulated companies. Therefore it is generally considered to be safe and reliable to use. Client funds are held in accordance with client money rules, such as those outlined by the U.K. Financial Conduct Authority. This means that each client deposit is put in a segregated bank account. Read more about these regulations here.
Pro's and Con's
- Advanced trading tools, e.g.: Guaranteed stops, Negative Balance protection.
- All major Crypocurrencies available.
- Trading without commission.
- Proprietary Software: Intuitive, easy to use and fast.
- Not available in the US.
- No phone support.
- Inactivity fees may apply to inactive accounts.
- Cash deposits are unavailable.
What do you think about Plus500?
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Do you like the Plus500 Trading platform? Which device do you use to trade? Which types of financial instruments do you feel the most confident trading? Would you like to see more crypto/fiat pairs, e.g. BTC/GBP or BTC/EUR? Let us know, we want to hear from you!