Plus500 is an international trading firm providing trading services in Contract for Difference (CFDs). Its headquarters is located in Israel and has branches worldwide.
As a CFD brokerage, it primarily uses a market maker model where orders are transferred via an automated dealing desk. Regulators however have set several conditions which prevents market makers to act against the interest of their traders and Plus500 is in compliance with this.
Regulation and company reputation
This brokerage is licensed by the following financial regulators:
- Plus500UK Ltd authorised & regulated by the FCA (#509909)
- Plus500CY Ltd authorized & regulated by CySEC (#250/14)
- Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018)
- Plus500AU Pty Ltd (ACN 153301681), licensed by:
ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.
Furthermore, it is listed in the London Stock Exchange and is a part of the FTSE 250 Index.
So is it reliable to trade with Plus500?
Yes. Plus500’s trading platform is easy to use and is trustworthy. The client’s money is placed in a segregated bank account and is not invested in other markets.
Plus500’s email and chat customer support are available in multiple languages 24/7 so you can get in touch with one of their agents any time of the day.
Opening an account
Account registration with Plus500 is simple and easy. The image below is how the registration page would look like.
For new users, click on “New User” and enter your details, then click “Create Account”.
Once logged in, you can trade using a demo account, so you can practice and get used to the tools.
To be able to trade with real money, the account needs to be verified.
Getting your account verified
In the Menu on the left side, click on “Funds” and fill in the required details.
You will then be redirected to the “Verify Account” page. You will need to upload your ID and proof of address. As a bonus, you can get free money if you also verify your phone number and email address.
Review your details and once everything is in order, click on the “Verify” button and upload the documents.
The verification usually takes just five minutes which is a lot faster than what most brokers can accomplish.