What is Plus 500? This question will be well-answered from the conclusive review that will be carried out in this article.
Plus 500 is one of the premier CFD brokerage firms in the world; they have decided to stick to a particular tradable asset, and that has provided them with the ability to improve their service provision and technology.
Plus 500 Review
Plus 500 Ltd was the brainchild of six men who were all students of one of the top technology schools in Israel.
The Managing Director, Alon Gonen, took the jump and invested $400,000 as the starting balance to kick start what we know today as Plus 500 Ltd.
This marked the beginning of great things for them. From Israel, the company has spread its wings to the United Kingdom, Australia, and Cyprus where they have registered their companies and have regulatory coverage.
They are also in other three countries that handle more technical back-end services for them. the company was listed in the Alternative Investment Market section of the London Stock Exchange in 2013, and this was a true test for them because if their IPO would fail this would mean tragic things for them as a broker in a very competitive arena.
When the offer was finally made on 22nd July 2013, they made over $75 million, and this was a very big win for them it proved that they were a force to be reckoned with and more so they had received wide acceptance, and this built their confidence.
The company was later bound to be bought by a mega gambling company called Playtech that wanted to make a move into the trading business for a sum of $703 million which they were ready to take until Playtech were denied the opportunity because they could not get regulation permits to operate.
They are heavily regulated, and this is very important because many brokers who provide similar services have been very unscrupulous and the clients are the ones who are left as the victims as the broker walks away.
They have cross-border regulations from different parts of the world that mainly known for their financial regulations.
They are registered in Cyprus as Plus 500 CY Ltd, and they are regulated by the Cyprus Securities Exchange Commission, and their regulation number is 250/14.
They are also registered in Australia as Plus 500 AU Pty Ltd, and they are regulated by ASIC and their license number for operations is 417727.
In the United Kingdom, they are registered as Plus 500 UK Ltd, and they are regulated by the Financial Conduct Authority under the regulatory number FNR: 07024970.
This goes to show that they have a strong consideration for being reputable and reliable, this works to the advantage of the client who knows that they are engaging with a firm that is keenly observed by the rightful authorities.
Plus 500: Accounts
Plus 500 has one account it is mostly the one size fits all kind of scenario. They have an account with a minimum balance of $100, and the account can attract a leverage of 300:1 and this is directed for traders who are experienced and know how to utilize the leverage to their advantage.
The account has several tradable assets one can trade any of the following CFDs; the forex, commodities, ETFs, United States stocks, United Kingdom stocks, indices, and their very own proprietary product the Bitcoin CFD.
With all these products there is no way the client will have a problem trading or getting the right mix of assets to create a portfolio that will offer the most profitable outcome.
Plus 500 Trading Platform
Plus 500 has one of the most innovative trading platforms in the business; it is almost likely that because of their origins in Israel which is the leader when it comes to financial technology they had to create a very dependable trading platform.
This platform has no comparisons to the rest of the platforms in the market rather it has unique aspects about it that make it a trading platform that Plus 500 can create.
They have the trading platform in three versions that are very reliable; they have the web trader that requires one to have a good internet connection and a computer, and you are set to trade the markets.
They have a downloadable version that is suited for the Windows PC, and they have created another one that is compatible with the newly released Windows 10.
Their trading platform can also be found in the Android and Apple platforms for those traders who cannot keep away from the markets even when on the move.
They offer a practice account that is meant to help the trader improve their trading skills and get them acquainted with the trading platform.
Many traders see the demo account as a useless tool, but it helps the trader who is starting off to build confidence and grows their understanding of how the market works.
Deposit and Withdrawal
To start your journey as a client of Plus 500, it is important to have a starting balance Plus 500 review. This starting balance is $100 or its similar amount in Pounds or Euros as the client wishes.
They have several options for these transactions and if you wish you can use any of the listed on their website.
They have the normal credit and debit card payments; they also allow wire transfers, and in addition, they have online money transfer options like the PayPal and Skrill.
With a chance to choose which suits you perfectly, you are the only one who has the power to decide which method you are going to utilize.
Generally, Plus 500 is one of the best brokers who is offering CFDs, and any client will be pleased to be part of their community.