Plus500 Review 2018

Plus500 is one of the UK’s largest online based trading platforms. Trading in the UK’s most popular commodities; UK 100, Bitcoin, and a variety of different currencies alongside many other options. The site has no commissions, its own systems for managing stop limits including stop loss and trailing stop functionality, and promises a guaranteed stop.

Overall Rating

Based on 8 Reviews
www.plus500.com



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About Plus500

Alongside its mobile app, the option to receive notifications on key value events is available, with functionality inside the app to quickly manually alter investments, if required. The app also allows for the other platforms in depth view of value graphs of varying timescales as low as 1 minute. These graphs can be viewed in either a candlestick chart form, or traditional line graphs.

Using SSL encryption and segregated funds storage to manage expenditure on the platform, there is a commendable level of security put in place for balance protection. Authorised and regulated by the FCA, and listed on the London Stock Exchange, the platform holds a suitable level of backing in trust and hold over 155 thousand active customers at this time, with over 1042 billion dollars traded in value.

The site offers a free demo account, in which you can test the platform using a virtual scenario with real money values, and a large starting capital. This gives you an insight into how the app functions, and if it’s for you before making a deposit onto your account. As well as this, the site offers a £20 bonus to new users, which can be invested and then withdrawn after a ‘trader points’ value is met on the account (relates to the amount invested on the platform from a particular account).
Plus500 offers a high standard of customer support with their platform 24/7 which can provide you with any answers to questions you might have about the trading platform, and give information on how to use provided tools to their maximum potential. As well as available advice, the site also offers a risk management utility, which allows you to set the aforementioned strict limits on when your stock is sold. This helps you to manage the risk associated with your investment, and is intuitive letting you easily change your parameters whenever required if the values of the stock were to change.

Leverage is a feature prominent on Plus500’s website. They provide such a service which allows users to trade stocks which are up to a specific scaling value over their capital; the example they give is a 1:5 ratio.

Disclaimer

 


All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. This content is for educational purposes only and is not investment advice.

Bobby W., Reviewed July 7, 2018

The Plus500 app is open all day on my phone. Because the bitcoin has increased so much lately I've been making a lot of profit. It's really easy at the moment to make a lot of money quickly with Plus500. I've received payment twice, it takes about 7 days before it's on your account.

Noah B., Reviewed May 26, 2018

Today I received my first payment from Plus500, profit for trading in Bitcoins. In total it took 6 days before I got my money. This includes the weekend, but I still think this is rather a long time. You do, however, receive emails in the meantime to inform you that they are busy processing the payment. It's always a lot of hassle to request payment with other brokers. The high transaction fees when requesting payment are the only drawback in my opinion. When I asked customer service about this I was informed that this is the case with all brokers. Payout is only possible starting at 120 euros but apparently this differs per account.

Finn N., Reviewed April 23, 2018

I first started investing for 3 months using a demo account, turning 50,000 euros worth of virtual funds into 120,000. Since last week also an account with real money. I'm a lot more careful than I am with practice money but I have made a profit. Trading with the app can be risky because it's easy to press the wrong button by accident. On an iPad it's OK but I have a small mobile phone which isn't ideal for using the app. If you could in some way adjust this I would definitely use the app more often for trading.

Kenji H., Reviewed March 7, 2018

Plus500 are con artists. I had 600 euros on my account and suddenly it was gone. They said I traded it and sent me screenshots of trades I hadn't made myself. The customer service keeps repeating themselves and I get no further with it. Don't create an account with Plus500 you will lose your money.

James S., Reviewed December 6, 2017

The low transaction fees are the biggest advantage with Plus500. I do around 50 to 100 trades per day so this is a major expense for me. I do, however, think it's a shame that Plus500 no longer offers bonuses. Payout used to come with an extra bonus but that suddenly stopped happening. I emailed customer service to ask why I no longer receive bonuses but I never heard back from them. I checked and the last bonus I received was more than a year ago, does anyone here know what happened to the bonuses?

Julian A., Reviewed November 2, 2017

I'd like to offer my compliments to the Plus500 customer service. I accidentally requested a payout for the wrong PayPal address. I sent an email and within 30 minutes I received a response informing me that they would transfer the money back to my account. A huge thank you, because I was scared I'd lost all my money. Other brokers could learn a thing or two, carry on Plus500!

Wess T., Reviewed October 13, 2017

First created a trial account and it rose within 2 days. After this I put in 500 euros and this turned into 1800 euros. Unfortunately it fell back to 750 euros but I now understand the “game”. Make sure you've had a good night's sleep when you start trading because I've noticed that when I get tired I start making bad decisions that end up costing me money.

Jack B., Reviewed October 11, 2017

I'm not 18 yet so I created an account in my mother's name, so I could trade in bitcoins and cryptocurrency. After a while, I'd made 1200 euros profit so I wanted to have this amount paid out. Now they don't want to pay out the money to my mother's bank account because they found out that I'm underage. I know I made a mistake but to simply refuse me the money is ridiculous. Tomorrow I plan to contact a lawyer to see if I can take action against Plus500. If anyone here has also not received their payment we can maybe take joint legal action. For anyone who is underage, don't create an account with Plus500 because they will find out. I'm going to try another broker now. Also be aware of the fact that Plus500 customer service does not speak Dutch, but only offers support in English.

Disclaimer

 


All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. This content is for educational purposes only and is not investment advice.

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