Plus500

Plus500 has a lot of positives; it’s an FCA and ASIC regulated CFD broker that is also publicly listed on the London Stock Exchange, which gives traders more transparency than they can expect to get from most other brokers or exchanges. Conversely, its offering is minimal both in markets available and overall tools and resources on the platform.

Plus500

3.9/5

In a nutshell

  • Listed on the London Stock Exchange
  • Regulated by the FCA (UK) and ASIC (Australia)
  • Wide selection of markets (all CFD products)

Pros and Cons

THE BENEFITS

PROs

  • 24/7 trading on cryptocurrency CFDs
  • Company is publicly-traded and regulated
  • Quick turnaround on activating your account
THE DOWNSIDE

CONs

  • Not as many cryptocurrency pairs available
  • Educational content and tools are basic
  • Extra costs that can start to add up

Setting up a new account

Getting started

Step 1

Click on Start Trading Now and enter an email address and password

Step 2

Hover over and click on the Menu icon in the top left corner, then go to Deposit to begin the onboarding process

  • On the first screen, enter your full name and birth date
  • Depending on your location, choose which entity you want your account under
  • Next, choose your Country of Residence from the drop-down list
  • Enter your full residential address on the next screen
  • Complete the Appropriateness Assessment
  • Disclose whether you have any Professional Experience 
  • Next is a series of questions to test your Investment Knowledge
  • Complete your Economic Profile (employment status)
  • Enter your Financial Details (income, savings, etc.)
  • Fill in the Trading Profile (your intentions/plans)
  • Accept the User Agreement to proceed

Step 3

After completing your profile, you’re taken to the Deposit page where you can fund your account using a debit or credit card, PayPal, or by doing a bank transfer

Step 4

Once your deposit is in your available balance, click on the Trade icon on the left to browse through the available markets and start trading

What can I trade?

  • BTC, ETH, LTC, NEO, XRP, IOTA, ADA, EOS, XLM, XMR, TRX
  • Currencies
  • Commodities
  • Shares
  • Options
  • ETFs

Fees

  • Variable spreads on all pairs
  • Overnight funding fees (varies)
  • Currency conversion fees on deposits
  • Guaranteed Stop Order (depends on spread)

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