Plus500 Review – The Broker, The Myth, The Legend
Plus500 is an Israel-based company that was founded in 2008. The company operates in the region of Europe and Asia, in more than 50 countries. It is important to note that the Plus500 forex brokerage has great experience in the crypto industry and catches the attention of a lot of users daily. One of the good reasons for this is that Plus500 is a reliable and trustworthy company that ensures clients’ safety and security and satisfies their needs in many ways. The brokerage has a license and authorization so we can freely say that Plus500 is not a scam. However, like many other crypto trading companies, this company is also not accepted in the United States.
Plus500 offers traders a lot of important services including forex, stock indices, individual shares, commodities, ETFs, options, and cryptocurrencies. The broker has essential features such as the spread of 0.00008 pips and currencies in EUR and USD. It has a 1:300 maximum leverage, low trading costs, and a comfortable trading platform. Besides, another vital thing is that Plus500 offers negative balance protection for their clients. The company also has a great account opening and very quick customer support service.
In this Plus500 Review, we will discuss other company features including the account types.
The account types of Plus500
Plus500 has 4 types of accounts including Demo, Retail, Professional and Islamic accounts. The retail account has a maximum leverage of 1:300 and a minimum deposit of ZAR 1500. This account is more likely to be used by the majority of the traders because of its features. It is available in the developed countries such as the EU, UK, Singapore, and Australia. The global market is also open to the Plus500 Retail account. The main features of the account are:
- Negative balance protection.
- Fee-free trading with the exception of a minimal spread.
- 4 different stop order types.
- ICF (Investor Compensation Fund).
- Access to the proprietary Plus500 trading platform
A professional account is for experienced traders only. However, clients should meet some criteria in order to be eligible for the professional account including
- Sufficient trading experience in last 12 months
- Financial instrument portfolio of over 500,000 EUR (including cash savings and financial instruments)
- Relevant experience in the financial services sector
Besides, the professional account allows negative balance protection and money protection. In terms of the Demo account, it is more likely that only beginners would be interested in this service as it is a virtual display of the crypto markets which means that the funds are not real. This account has:
- 1:300 maximum leverage
- No deposit requirements
- Instant refill after account balance reaches less than 3500 ZAR
- All available instruments
So we can freely say that Plus500 accounts are for every kind of trader.
Plus500 is an experienced brokerage company with comfortable services and some key features that make the company one of the best in the industry. The brokerage is highly recommended by a lot of clients and in many cases, has very good feedback that speaks highly of them.