Plus500 Review 2024

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Revisor

Last update: 4 months ago

Our veredict

Plus500, primarily known for CFD trading, provides a specialized platform for cryptocurrency enthusiasts interested in leveraging price movements without owning the actual assets. This platform stands out for its user-friendly interface, making it accessible even for those new to the cryptocurrency market. Users can engage in trading a variety of cryptocurrencies, including major ones like Bitcoin and Ethereum, through CFDs. This method allows both long and short positions, giving traders the opportunity to profit from both rising and falling market prices.

However, it’s important to note that Plus500 only offers cryptocurrency trading in the form of CFDs, which comes with its own set of risks, particularly due to the leverage involved. Leverage can amplify both gains and losses, and given the volatile nature of cryptocurrencies, this can result in significant financial outcomes. This platform might be best suited for those who have a good understanding of risk management practices or are seeking a more speculative approach to cryptocurrency trading. While it offers robust tools and a clear regulatory framework, it may not be ideal for those looking to own physical cryptocurrencies or engage in traditional crypto exchange activities.

Pros

Cons

4,6

Threenvest Score

Fees

Low 3,7/6

Regulated

FCA, CySEC

With the confidence of Threenvest

1. Year Founded Firstrade was established in 1985, making it one of the most experienced brokerage firms in the industry. With nearly four decades of operation, Firstrade has demonstrated stability and reliability through various market conditions.

2. Number of Users Firstrade serves a large number of clients, reflecting its broad acceptance and trust within the investment community. The significant user base is a testament to its reliability and the trust it has earned over the years.

3. Security Methods Firstrade employs stringent security measures to protect client accounts and personal information. The platform is regulated by top-tier authorities such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Additionally, Firstrade provides high investor protection through the Securities Investor Protection Corporation (SIPC), covering up to $500,000, including $250,000 for cash.

4. Regulation Firstrade is fully regulated by the SEC and FINRA, ensuring compliance with strict industry standards. This regulation provides an added layer of security and transparency, assuring users that their investments are managed according to rigorous guidelines.

5. Customer Service Firstrade offers robust customer service options, including phone and email support. Although not available 24/7, their customer service team is dedicated to providing helpful and relevant responses. This commitment to customer care enhances user confidence and satisfaction.

Best Crypto Brokers

Why can you trust Threenvest?

At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

About Plus500

Introduction Plus500 is a well-established online trading platform that specializes in Contracts for Difference (CFDs), providing traders with the ability to speculate on the price movements of various financial instruments, including cryptocurrencies. Founded in 2008 and based in Israel, Plus500 has gained a reputation for its user-friendly interface and comprehensive range of trading options, making it a popular choice among traders worldwide.
What is Plus500? Plus500 is a CFD trading platform that allows users to trade on the price movements of various financial instruments without owning the underlying assets. This includes stocks, commodities, forex, indices, and cryptocurrencies. By using CFDs, traders can speculate on rising or falling prices, providing flexibility and the potential for profit in both market conditions. Plus500’s platform is accessible via web and mobile apps, offering a seamless trading experience for its users.
Background and History Founded in 2008, Plus500 has grown significantly over the years, expanding its reach and establishing itself as a prominent player in the online trading industry. The company is headquartered in Israel and operates through several subsidiaries worldwide, each regulated by top-tier financial authorities such as the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). In 2013, Plus500 went public, listing its shares on the London Stock Exchange’s Main Market, further solidifying its reputation and commitment to transparency and financial stability.
Founders Plus500 was founded by six alumni of the Technion Institute of Technology in Israel: Gal Haber, Alon Gonen, Shlomi Weizmann, Omer Elazari, Eyal Rosenblum, and Elad Ben-Izhak. These founders brought together their expertise in technology and finance to create a platform that offers a wide range of financial instruments, including a strong focus on CFDs. Their vision was to make trading accessible and straightforward, which has been a core aspect of Plus500’s growth and success.

Plus500 offers CFDs on a variety of cryptocurrencies, allowing users to trade on the price movements of popular digital assets without the need to own or manage them. This approach caters to traders looking for exposure to the volatile crypto market while avoiding the complexities of holding actual cryptocurrencies .

Why Choose Plus500?

Plus500 stands out as a top choice for cryptocurrency trading due to its user-friendly platform, extensive range of trading instruments, and robust security measures. The platform is particularly suitable for beginners, offering an intuitive interface that simplifies the trading process. With no commission fees and competitive spreads, Plus500 provides a cost-effective trading environment. Additionally, the availability of various cryptocurrencies, including major ones like Bitcoin and Ethereum, ensures that traders have diverse options for portfolio diversification.

The platform’s regulatory oversight is another significant advantage. Plus500 is regulated by several top-tier financial authorities, including the FCA, CySEC, and ASIC, which enhances its credibility and trustworthiness. This stringent regulation ensures that Plus500 adheres to high standards of financial security and transparency, providing users with peace of mind. Furthermore, Plus500 offers negative balance protection, preventing traders from incurring losses that exceed their account balance.

Plus500 also excels in customer support, offering 24/7 assistance through live chat, email, and an extensive FAQ section. This comprehensive support system ensures that users can quickly resolve any issues and navigate the platform effectively. In summary, Plus500 is a reliable and efficient choice for cryptocurrency trading, combining ease of use, regulatory compliance, and excellent customer service to meet the needs of both novice and experienced traders.

Where it falls short

1. Limited Advanced Trading Features: One of the main drawbacks of Plus500 is the limited availability of advanced trading features and tools. While the platform is highly user-friendly and well-suited for beginners, it may not offer the depth of functionality that professional traders require. Advanced tools such as custom algorithmic trading, in-depth technical analysis features, and more sophisticated order types are either limited or absent. Improvement: To address this, Plus500 could expand its platform capabilities by integrating more advanced trading tools and features. Adding support for algorithmic trading, more comprehensive charting tools, and a wider variety of order types would make the platform more appealing to professional and experienced traders. Enhancing these features would not only retain existing users but also attract a more advanced trading clientele.

2. Potential Withdrawal Delays and Fees: Some users have reported delays in the processing of withdrawals, especially during peak times, and have encountered fees when withdrawing smaller amounts. These issues can be frustrating and may discourage users from continuing to trade on the platform. Improvement: Plus500 could improve its withdrawal process by streamlining and expediting the handling of withdrawal requests. Implementing faster processing times and ensuring that all withdrawal methods are equally efficient would enhance user satisfaction. Additionally, revisiting the fee structure to reduce or eliminate fees for smaller withdrawals would make the platform more user-friendly and competitive. Improving these aspects would build greater trust and encourage long-term use of the platform.

Features	Explanation
Minimum Trade	Firstrade allows low minimum trade amounts, making it accessible for beginners to start investing in cryptocurrencies.
Trading and Transaction Fees	The platform offers competitive trading fees, although some users might find hidden costs associated with certain transactions.
Number of Cryptocurrencies	Firstrade supports over 30 cryptocurrencies, providing a good range of options for investors.
Crypto-to-Crypto Trading Pairs	While it offers a variety of cryptocurrencies, the number of available trading pairs is somewhat limited compared to other platforms.
Website Transparency	Firstrade’s website is transparent and informative, clearly outlining fees, security measures, and available services.
Credit/Debit Card
Storage Offering	Firstrade lacks a dedicated cryptocurrency wallet, requiring users to use third-party services for storing their digital assets.
Staking and Rewards	The platform currently does not offer staking or reward programs, which can be a downside for users looking to earn passive income.
Mobile App and Desktop	Firstrade offers a highly rated mobile app and a robust desktop platform, ensuring a seamless trading experience across devices.
Customer Service	Firstrade’s customer service is reliable but not available 24/7, which can be an inconvenience for users needing assistance outside business hours.
Deposit and Withdraw	Firstrade offers a variety of deposit and withdrawal options, although the lack of instant processing for some methods can be a drawback.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert at our website, I find Plus500 to be a robust and user-friendly platform for trading cryptocurrencies. Its intuitive interface makes it ideal for beginners, while its range of available cryptocurrencies ensures that even more experienced traders can find what they need. The lack of commission fees is a significant advantage, allowing users to trade more cost-effectively. However, it’s essential to be mindful of the spreads and potential withdrawal fees. Overall, Plus500 offers a secure and efficient environment for cryptocurrency trading, backed by strong regulatory oversight and advanced security measures.

Fees

Plus500’s commission structure is designed to be straightforward, primarily utilizing the market spread. This means that the cost to trade is embedded in the difference between the buy and sell prices, rather than in explicit fees. For example, spreads can vary from 0.02% to 2%, depending on the cryptocurrency and market conditions. While this can be competitive, it may be higher compared to other platforms, especially for less liquid assets. In addition to the spread, Plus500 charges an overnight funding fee, which applies when positions are held open past a certain time. This fee can be either a charge or a credit, depending on the direction of the trade and the current interest rates. Additionally, there is a currency conversion fee for trades conducted in a currency different from the account’s base currency. Plus500 also implements an inactivity fee of up to $10 per month if no login activity occurs for three months, which continues to accrue until the account is active again. Despite these potential costs, Plus500 does not charge for deposits or withdrawals, which is a significant advantage. Users can fund their accounts via various methods including credit/debit cards, bank transfers, and e-wallets like PayPal. This fee structure makes Plus500 accessible and predictable for users, with the primary costs tied to the actual trading activity and specific conditions of the account .

Pros

Cons

Detailed Analysis of Plus500 Crypto Exchange Commissions

Plus500 primarily earns revenue through the spreads on its CFD trades, which can range from 0.02% to 2% depending on the market conditions and the specific cryptocurrency being traded . The spread is the difference between the buy and sell prices, and this is the main cost you incur when trading on the platform. This method is straightforward as it incorporates the trading fee into the price difference, allowing traders to see the cost upfront without additional hidden charges.

Overnight Funding Fees: An overnight funding fee is charged if a position is held open past a certain time. This fee can be either positive or negative depending on the direction of your trade (long or short) and the prevailing interest rates. For example, holding a long position might incur a charge, while a short position might result in a small rebate . These fees can add up, particularly if positions are held over a longer period, making it important for traders to consider the duration of their trades.
Currency Conversion Fees: If you trade an instrument denominated in a currency different from your account’s base currency, a currency conversion fee is applied. This fee is calculated in real-time and reflected in the unrealized profit and loss of an open position . This can be a notable cost for traders dealing with multiple currency pairs or trading across different markets.
Inactivity Fee: Plus500 charges an inactivity fee of up to $10 per month if there is no login activity for three months. This fee continues to be charged monthly until the account becomes active again by logging in . While this fee encourages active trading, it can be a drawback for those who trade infrequently.
No Deposit and Withdrawal Fees: One of the significant advantages of Plus500 is the absence of fees for deposits and withdrawals, which is not common among all trading platforms. This makes it easier for traders to move funds in and out of their accounts without worrying about additional costs . Plus500 supports a variety of deposit methods including credit/debit cards, bank transfers, and electronic wallets like PayPal and Skrill, providing flexibility and convenience for users.

In summary, Plus500’s commission structure is transparent and primarily spread-based, making it easy for traders to understand their costs. While the spreads can be higher than some other platforms, especially for less liquid assets, the absence of deposit and withdrawal fees helps offset this. Traders should also be mindful of overnight funding and currency conversion fees, as well as the inactivity fee, to manage their trading costs effectively. Overall, Plus500 offers a competitive fee structure for those focused on CFD trading, particularly short-term traders who can manage the overnight fees and avoid inactivity charges.

Product selection

Plus500 offers a range of services and products primarily centered around CFD trading. Users can trade CFDs on various financial instruments, including stocks, commodities, indices, forex, and cryptocurrencies. This allows traders to speculate on the price movements of these assets without owning the underlying assets, providing flexibility in both rising and falling markets. Plus500’s platform is accessible via both web and mobile applications, ensuring that users can trade conveniently from anywhere. In addition to CFD trading, Plus500 provides several features to enhance the trading experience. These include a demo account, which allows new users to practice trading without risking real money, and innovative tools like +Insights and Traders’ Sentiment, which provide valuable market insights. Plus500 supports multiple payment methods for deposits and withdrawals, including bank transfers, credit/debit cards, and electronic wallets like PayPal and Skrill. This variety of payment options, combined with the platform’s regulatory oversight by top-tier financial authorities, makes Plus500 a robust choice for CFD traders .

Pros

Cons

Read more about product selection in Plus500

Plus500 Services and Products

Plus500 specializes in CFD trading, offering a diverse range of financial instruments for traders. Here are some of the key services and products available on the platform:

Leveraged Tokens and CFDs Plus500 allows users to trade CFDs on various financial instruments including forex, commodities, indices, stocks, ETFs, and cryptocurrencies. CFDs (Contracts for Difference) enable traders to speculate on price movements without owning the underlying asset, benefiting from both rising and falling markets. This includes leveraged tokens which allow traders to amplify their exposure to market movements, though this also increases the potential risk.
Mobile App and Web Platform Plus500 provides a seamless trading experience through its user-friendly web platform and mobile apps available for both iOS and Android devices. The intuitive design ensures that users can easily navigate the platform and execute trades on the go, enhancing accessibility and convenience.
Demo Account For new users or those wanting to test the platform, Plus500 offers a demo account. This feature allows users to practice trading with virtual funds, helping them to understand the platform’s functionalities and develop their trading strategies without any financial risk.
Educational Resources Plus500 offers educational tools such as +Insights and Traders’ Sentiment. These tools provide market analysis, trading signals, and sentiment data to help users make informed trading decisions. The platform also offers various tutorials and guides to assist traders in learning about different aspects of CFD trading.
Deposit and Withdrawal Methods Plus500 supports a variety of payment methods for deposits and withdrawals, including bank transfers, credit/debit cards, and electronic wallets like PayPal and Skrill. This variety ensures that users can choose the most convenient method for their transactions. Importantly, Plus500 does not charge fees for deposits or withdrawals, making the process cost-effective for users.
Regulation and Security Plus500 is regulated by multiple top-tier financial authorities, including the FCA (UK), CySEC (Cyprus), and ASIC (Australia). This extensive regulatory oversight provides a high level of security and ensures that the platform operates transparently and adheres to stringent financial standards. Plus500 also offers negative balance protection, ensuring that users do not lose more than their initial investment in volatile market conditions .

Account opening

Opening an account with Plus500 is a straightforward and entirely digital process, allowing users to get started quickly. The initial registration involves providing your email and creating a password. After registering, you need to verify your identity by uploading a copy of your ID or passport, and proof of residency such as a utility bill or bank statement. This verification step is essential to comply with regulatory requirements and usually takes less than a day. Once your account is verified, you can proceed to deposit funds using various methods like credit/debit cards, bank transfers, and electronic wallets like PayPal and Skrill. The minimum deposit is $100 for credit/debit cards and e-wallets, while it is $500 for bank transfers. After funding your account, you can start trading immediately. Plus500 only offers a Retail account for most users, but professional accounts are available for those who meet specific criteria related to trading activity, financial portfolio size, and experience in the financial sector.

Pros

Fast and Fully Digital: The entire account opening process can be completed online, usually within a day, making it quick and convenient for users to start trading.
Low Minimum Deposit: Plus500 requires a minimum deposit of only $100 for credit/debit cards and electronic wallets, making it accessible for new traders with limited funds.
User-Friendly Platform: The platform’s intuitive design ensures that even beginners can navigate and complete the account setup without any hassle.

Cons

Limited Account Types: Plus500 primarily offers a Retail account for most users, with a Professional account available only to those who meet specific criteria, limiting options for different types of traders.
Verification Required: Users must complete identity and residency verification, which, although necessary for regulatory compliance, can be seen as an additional step before trading can commence .

Read more about account opening in Plus500

Detailed Account Opening Process for Plus500

How to Sign Up on Plus500

Visit the Website: Go to the Plus500 official website and click on “Start Trading.”
Create an Account: Choose to create either a real money account or a demo account. Enter your email address and create a password.
Verify Your Email: Check your email inbox and follow the link to verify your email address.
Personal Information: Fill out your personal information, including your name, surname, date of birth, and country of residence.
Residential Address: Enter your residential address to comply with regulatory requirements.
Trading Knowledge: Answer questions regarding your knowledge and experience with CFD trading, your employment status, and income details.
Submit Documents: Upload a copy of your ID (passport or driving license) and proof of residency (utility bill or bank statement).
Account Approval: Once you submit all the necessary documents, your account will be reviewed and verified, typically within a day.
Deposit Funds: After verification, you can deposit funds into your account using various methods like credit/debit cards, bank transfers, or electronic wallets such as PayPal and Skrill.

Opening an Account Plus500 primarily offers a Retail account for most clients. However, traders who meet specific criteria can apply for a Professional account. The criteria include sufficient trading activity in the past 12 months, a financial instrument portfolio exceeding €500,000, or relevant experience in the financial services sector. How to Buy Your First Cryptocurrency

Log In: Log in to your verified Plus500 account.
Deposit Funds: Ensure that you have deposited sufficient funds into your account.
Select Cryptocurrency: Navigate to the cryptocurrency section of the platform.
Place Order: Select the cryptocurrency you wish to trade and click “Buy.”
Set Parameters: Enter the amount you want to trade, set your stop loss and take profit levels, and confirm the order.

Account Types

Retail Account: Suitable for most users, offering standard CFD trading features.
Professional Account: Available for users who meet the criteria of trading activity, financial portfolio size, and relevant experience.

How to Use Plus500

Platform Navigation: The Plus500 platform is designed to be user-friendly, with a clean interface that is easy to navigate.
Trading Tools: Utilize tools like +Insights and Traders’ Sentiment to make informed trading decisions.
Customer Support: Access 24/7 customer support via live chat and email for any assistance.

Registration and KYC

KYC (Know Your Customer): Plus500 adheres to strict KYC regulations, requiring users to verify their identity and address before they can start trading.
Security Measures: The platform employs robust security measures to protect user data and funds.

Note: The next step after opening your account is to learn how to deposit money into your Plus500 account, which will be covered in the next section.

Security

Plus500 prioritizes the security of its users’ funds and personal information. The platform is regulated by top-tier financial authorities, including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). These regulations ensure that Plus500 adheres to strict standards for financial security and transparency. Additionally, Plus500 employs advanced security measures such as SSL encryption to protect user data and transactions. The platform also provides negative balance protection, ensuring that users cannot lose more than their account balance. Overall, Plus500’s robust regulatory framework and advanced security protocols make it a reliable and secure platform for cryptocurrency trading.

Pros

Cons

Is Plus500 Legit?

Yes, Plus500 is a legitimate and reliable trading platform. It is regulated by several top-tier financial authorities, ensuring compliance with strict financial standards and regulations. These regulators include the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). This regulatory oversight provides users with a high level of protection and transparency.

Regulation: Plus500 operates under multiple regulatory licenses, ensuring it meets the stringent requirements set by these authorities. These regulations cover aspects such as client fund protection, financial reporting, and operational transparency. Users’ funds are kept in segregated accounts, separate from the company’s operating funds, which adds an extra layer of security.
Licensing: The platform holds licenses from reputable financial authorities, reinforcing its credibility in the financial markets. The FCA, CySEC, and ASIC are known for their rigorous standards and regular audits, ensuring that Plus500 maintains high operational standards.
Is Plus500 Safe? Yes, Plus500 is considered safe due to its adherence to regulatory requirements and its implementation of robust security measures. These include SSL encryption to protect user data and secure transaction processing. The platform also provides negative balance protection, which ensures that users cannot lose more than their account balance.
Security Methods: Plus500 employs advanced security protocols to safeguard user information and funds. SSL encryption secures all data transmitted between users and the platform. The company also follows best practices for cybersecurity, including regular security audits and updates.
History: Plus500 has a solid track record, having been founded in 2008. Over the years, it has grown to become a leading online trading platform, trusted by millions of users worldwide. Its long-standing presence in the market and consistent regulatory compliance demonstrate its reliability and commitment to providing a secure trading environment.

Conclusion: In conclusion, Plus500 is a secure and trustworthy platform for cryptocurrency trading. Its regulation by multiple top-tier financial authorities, combined with robust security measures, ensures a safe trading experience. While it could enhance security with features like two-factor authentication, the platform’s current security protocols and regulatory compliance make it a reliable choice for traders.

Customer service

Plus500 provides solid customer service, ensuring that users have access to support when needed. The platform offers 24/7 customer support through various channels, including live chat, email, and a comprehensive FAQ section. The live chat feature is particularly useful for quick resolutions, while email support is suitable for more detailed inquiries. The FAQ section covers a wide range of topics, helping users find answers to common questions without needing to contact support directly. Plus500’s commitment to customer service is evident in its user-friendly approach and the availability of multiple support channels. However, there are some areas where Plus500’s customer service could improve. Response times, especially during peak trading hours, can sometimes be slower than expected, leading to delays in resolving issues. Additionally, while the FAQ section is extensive, it may not cover all specific queries, requiring users to wait for direct support. Despite these minor drawbacks, Plus500’s overall customer service is reliable and helpful, providing traders with the necessary assistance to manage their accounts and navigate the platform effectively.

Pros

Cons

Read more about customer service in Plus500

Customer Support: Plus500 offers 24/7 customer support, which ensures that users can get assistance at any time, including weekends and holidays. This level of availability is crucial for traders who operate in different time zones or who may encounter issues outside of regular business hours. The primary methods of contacting Plus500’s customer support are via email and live chat. The live chat feature is particularly valued for its promptness, providing immediate responses to queries. However, the absence of phone support and social media interaction is a notable limitation.
Reputation and Customer Feedback – What Do Users Have to Say? User feedback on Plus500’s customer support is mixed. Many users appreciate the quick response times, particularly through the live chat feature. The support team is generally praised for providing competent and helpful responses. Despite these positives, there are reports of dissatisfaction, mainly due to the lack of variety in communication channels and occasional delays in email responses. Some users have also expressed concerns about the depth of support provided, particularly for more complex issues.
Methods of Contact: Plus500’s customer support can be reached through two main channels: email and live chat. Live chat is available directly on the Plus500 platform, offering users a quick way to resolve their issues. For less urgent matters or more detailed inquiries, users can send an email and expect a response within 24 hours. However, the platform does not offer phone support or social media support, which limits the ways users can seek assistance.
Response Time: The response time for Plus500’s customer support varies by the method of contact. Live chat typically offers immediate assistance, making it the preferred choice for urgent queries. Email responses are usually provided within 24 hours, which, while generally acceptable, may not be fast enough for urgent issues. The lack of phone support means that users cannot receive real-time verbal assistance, which can be a drawback for those who prefer more direct communication.
What You May Need: As a user, you might need to contact Plus500’s customer support for a variety of reasons, such as issues with account verification, transaction queries, or platform navigation. Given the limited communication channels, it’s advisable to use live chat for immediate concerns and email for less time-sensitive matters. It’s also useful to have all relevant information, such as account details and transaction IDs, ready when contacting support to facilitate a quicker resolution. Additionally, due to the mixed reviews on support quality, it may be beneficial to consult the extensive FAQ section on the Plus500 website before reaching out to customer service.

Is Plus500 Right for You?

Looking for 24/7 Trading and Support: If you need a platform that offers round-the-clock trading and customer support, Plus500 is a great choice. The 24/7 availability ensures that you can trade and get help at any time, making it suitable for traders in various time zones or those with busy schedules.
Prefer CFD Trading: Plus500 is ideal for those who are interested in trading cryptocurrencies via CFDs. This means you can speculate on the price movements of cryptocurrencies without owning the underlying assets. This is particularly beneficial if you prefer short-term trading or do not want the hassle of managing digital wallets and the associated security concerns.
Value Quick and Efficient Service: For users who prioritize quick and efficient customer service, especially through live chat, Plus500 delivers prompt responses. However, if you require more comprehensive support options, such as phone or social media support, you might find the available methods limiting.

Threenvest score

4,6

Fees

Low 3,7/6

Regulated

FCA, CySEC

Available cryptocurrencies

10 (CFDs)

On the crypto broker website

Threenvest score

4,9

Fees

Low 4,7/5

Regulated

SEC, FINRA

Available cryptocurrencies

11 (BTC, ETH…) (CFDs)

Robinhood

Threenvest score

4,9

Fees

Regulated

SEC, FINRA

Available cryptocurrencies

11 (BTC, ETH…) (CFDs)

Available cryptocurrencies and countries available

Plus500 offers a selection of 12 cryptocurrencies available for CFD trading, including major assets such as Bitcoin, Ethereum, and Litecoin. However, it lacks certain popular cryptocurrencies like Dogecoin and Solana, which might be a limitation for traders looking for a wider variety.
Regarding country availability, Plus500 is accessible in many regions, but notable exclusions include the United States and Canada, where regulatory restrictions prevent users from opening accounts. This means that traders from these countries will need to look for alternative platforms .

Main cryptocurrencies available

Bitcoin
Ethereum
Litecoin
Neo
Ripple
IOTA
Stellar
EOS
Bitcoin Cash ABC
Cardano
Tron
Monero
Solana
Avalanche
VeChain
Polkadot
Polygon
Axie Infinity
Filecoin
Chainlink

Main countries where you can open an account

United Kingdom
Australia
New Zealand
South Africa
Singapore
Israel
United Arab Emirates

FAQs

Can I buy Bitcoin on Plus500?

No, you cannot buy Bitcoin directly on Plus500. Plus500 allows you to trade CFDs (Contracts for Difference) on Bitcoin, meaning you speculate on its price movement rather than owning the actual asset.

Is Plus500 regulated?

Yes, Plus500 is regulated by several top-tier financial authorities, including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC), among others .

What countries are not supported by Plus500?

Plus500 does not support account openings from residents of the United States, Canada, Iran, North Korea, Cuba, Syria, Sudan, Myanmar, and Zimbabwe due to regulatory restrictions .

What are the available deposit methods on Plus500?

You can deposit funds on Plus500 using various methods such as credit/debit cards, bank transfers, and electronic wallets like PayPal and Skrill. The availability of these options may vary by region .

How long does it take to withdraw money from Plus500?

Withdrawal times vary depending on the method used. Typically, withdrawals via credit/debit cards and electronic wallets take 1-3 business days, while bank transfers might take longer .

What fees does Plus500 charge?

Plus500 charges fees through the market spread. Other potential fees include an overnight funding fee, a currency conversion fee, and an inactivity fee for accounts that are inactive for more than three months .

Is Plus500 safe to use?

Yes, Plus500 is considered safe to use. It is a publicly traded company listed on the London Stock Exchange and provides negative balance protection. However, it does not hold a banking license .

Final opinion on Plus500

In conclusion, Plus500 stands out as a robust platform for trading cryptocurrency CFDs, particularly appealing to those who prefer not to handle the complexities of owning actual digital assets. Its strong regulatory framework, including oversight by authorities such as the FCA and ASIC, provides a sense of security that is often missing in purely crypto exchanges. Plus500’s user-friendly interface, coupled with 24/7 customer support and a range of deposit methods, makes it an accessible choice for both new and experienced traders. The availability of major cryptocurrencies like Bitcoin, Ethereum, and Litecoin ensures that users have access to the most widely traded assets, although the selection is more limited compared to some other platforms.

However, Plus500 does have its limitations. The platform’s focus on CFDs means that traders do not own the underlying assets, which might not suit long-term investors looking to hold cryptocurrencies. Additionally, the exclusion of popular coins like Dogecoin and Solana could be a drawback for some users. Plus500’s restricted access in key markets such as the United States and Canada also limits its global reach. Compared to other exchanges, Plus500’s lack of phone support and social media interaction can be seen as a disadvantage. Overall, Plus500 offers a solid, regulated environment for CFD trading, but potential users should weigh these factors carefully. At Threenvest, we recommend Plus500 for traders who prioritize security and ease of use in a CFD trading environment.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.