Is Plus500 fraud or is it a Legit Broker?
Read our full review including customer comments before you Trade. Although Plus500 is primarily specialising in in CFD’s services. Based in the UK, Plus500 is regulated by the British Financial Conduct Authority (FCA) and is registered as Plus500UK with registration number 07024970 and FCA registration is 509909.
|CHECK LIST||DESCRIPTION||SHERIFF RATING|
|WITHDRAWALS||WITHIN 3 DAYS BUT REQUIRE IDENTIFICATION|
|MOBILE DEVICE FRIENDLY||YES|
|BONUS||$20 WELCOME BONUS ON ALL ACCOUNTS EVEN DEMO AND UP TO $7,000 ON INITIAL FUNDING – Terms and Conditions reply. See full details below||
|REGULATED||YES – Based in the UK, Plus500 UK Ltd is regulated by the British Financial Conduct Authority (FCA) and is registered as Plus500UK|
|DEPOSIT METHODS||CREDIT CARD, SKRILL, WIRE TRANSFER, E-WALLET, MONEY BOOKERS, PAYPAL|
|ASSETS TRADED||COMMODITIES, STOCKS, INDEXES, ETFs and CFDS – A VERY WIDE LIST
|CUSTOMER SUPPORT||available via email|
|CURRENCY DEPOSITS||CREDIT CARDS, MONEYBOOKERS WIRE TRANSFER , SKRILL AND PAYPAL|
|ACCEPTS US TRADERS||NO|
REVIEW EVALUATION for Plus500
Plus500 UK uses their own dedicated platform and is not the classic SpotOption trading platform. The platform is clean cut and simple to operate for those who are looking for the no frills sort of trading. This has made them highly popular in a growing market like Europe and Asia. Because of strictures of regulation which Plus500 UK have chosen to adhere to, they are not allowed to take U.S customer. If you are a US customer we recommend that you look at our recommended Brokers for the US.
REVIEW OF TRADING PLATFORM
As can be seen from the graphic below the Trading platform is simple and easy to navigate. Choose from assets to Trade on the left hand side of the platform and see the price, the trader will get the strike price. Plus500 have the added advantage of giving a large inclusive trading screen on which you can even plot software signals.
REVIEW ON CUSTOMER SERVICE
PLUS500 UK are available via email. Replies are usually given within 30 minutes. Sadly they fall short on live chat – which is not available.
REVIEW ON RELIABILITY
As usual in our reviews we place a lot of emphasis on Regulation. Plus500 UK is a regulated broker by the FCA in London, which is one of the most important financial regulatory bodies in the European Union and not just in the UK. Plus500 UK also offers investor protection of 100% for the first Stg50,000 of any claim in respect of trader funds.
DEPOSITS AND WITHDRAWALS
A large variety of options are available for deposit. Major credit cards are accepted as is Skrill, MoneyBookers and Wire Transfer. Plus500 UK also accept deposits via PayPal, however we do warn traders that withdrawals to PayPal, may result in deductions due to the high charges levied by PayPal themselves.bFor withdrawals, traders are required to present on official photo ID such as passport or driving license as well as an address verification such as a utility bill. This is due to the financial conduct authorities regulation and to avoid money laundering. Otherwise once the process of verification is done (this is only required once) withdrawals are processed very efficiently and traders can expect to have the money in their accounts before 3 days. We recommend that you read all disclaimers. Trading is a legitimate way of making money online however your capital is always at risk. Never trade more than you can afford to loose.
BONUS ON FIRST DEPOSITS
A welcome bonus of $25 is given upon signing for a new demo account. With a deposit of $100 you receive a $30 bonus. Depositing $500? you get a bonus of $150 and depositing $1000 will give you a $200. Terms and conditions apply. We recommend that you discuss terms with your dedicated manager. Accepting bonus implies that you need to turn over your account to a stipulated number of times before you can withdraw your capital and profits.
Plus500 offers a large selection of CFD Shares. Trading CFD shares is an easy way of making short term trading. What exactly are CFD’s?
So is Plus500 UK a legitimate Broker or is it Scam? Plus500 UK is a legitimate broker. We have seen a few complaints over withdrawing capital and profits but they were all related to traders who did not verify their account. In the end once they did, the situation was always resolved. We recommend Plus500UK as a recommended broker particularly for experienced traders.