77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500 operates in Australia and New Zealand offering Contracts for Difference (CFDs). With over 2000 instruments, it specialises in trading different CFDs on markets such as Forex, commodities, shares and cryptocurrencies.
Since Plus500 is available to use in New Zealand, we conducted this Plus500 review 2023 to determine if they deliver a reliable and innovative service they claim. Our review found that this is a simplistic and intuitive platform. Whether you want to use Plus500 crypto trading or trade another asset, this platform gives a disclaimer that there is a risk of losing your capital due to the volatility of CFDs.
|Safety||very high||very high||high||high||high||high||high||high|
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To our knowledge, Plus500 has never experienced a major or minor security breach in its existence. We tried out the different lighting settings in our Plus500 review. It has a light/day mode and a dark/night mode.
The layout of Plus500 is landscape on the computer. The instruments are at the top of the page, the menu is on the left-hand side, and at the bottom, we see the charts for the instrument you click. We looked at the layout of Plus500 on a mobile device, and you have the option to use it as portrait or landscape if you want to zoom in on the charts.
There is excellent usability when trading Plus500 crypto CFDs. The instruments are put into different categories, which can be found to the left of the screen on the computer—making it easier for you to navigate between assets and find what you want to trade. Plus500 is a user-friendly platform with good visibility of information throughout the site.
Its performance is slightly slower on a mobile device than the computer, as we noticed trying to switch from a demo account to the real money account. But the demo account is free to use if you need to trial a trade before using your funds.
To open an account, you choose an email address and password and fill in your details.
Plus500 will need proof of your identity and bank details to withdraw or deposit funds. Once verified, you can manage your funds by choosing the payment method like PayPal or bank transfer. You can search and choose which instrument you wish to trade or select it from the drop down list to open a position.
If you want to, you can add the instruments to a favourite list by clicking on the ‘star’, so it is easy to find for next time. You can look at the chart for each instrument to check and monitor its past performance. You can click on the bell and create alerts to be notified on price and percentage changes also.
When you open buy and sell positions on CFDs, you decide how much of your funds you want to use to trade that instrument.
Plus500 operates with Contracts for Difference (CFDs), so, when you open a buy or sell position, you don’t operate with the asset directly but trade with the variation of the price. You can include ‘Stop Orders’ to close the position when a certain profit or loss is reached, or a ‘Guaranteed Stop’ to insure the potential loss is stopped at an absolute limit.
There is also the option to choose to open a position when the rates are at a specific price. Once that is done, you can view your position on the ‘Open Positions’ tab.
You can edit your position and when you want to finish that trade, click the ‘Close’ option.
|Headquarter||Building 25, Matam Haifa, 31905 Israel|
|Year of Founding||2008|
|Available Languages||English, German, French, Italian, Spanish, Russian, Polish, Dutch, Swedish, Portuguese, Norwegian|
|Customer Support||Live Chat, Email Support|
|Licence||CySEC – Cyprus Securities and Exchange Commission|
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We took a closer look at Plus500’s payment methods and found zero deposit fees. If you want to deposit your funds, you can do this through several methods including PayPal, a debit/ credit card, Apple Pay, electronic wallets, or bank transfer.
The funds are almost immediately transferred into your Plus500 account, so you can start trading straight away. A minimum deposit is NZD 100 for debit/credit cards and PayPal. When withdrawing your funds, you can do this through PayPal or Bank Transfer.
Plus500 does not charge a withdrawal fee unless you withdraw your funds more than the maximum monthly amount of five times. The time it takes to receive this money varies.
We researched customer service in our Plus500 review and discovered an incredibly supportive service. Although there is no phone support, their online service is available 24/7, not the case for other trading platforms like FPMarkets crypto who only offer 24/5 online support.
It is free to contact the customer service team. Plus500 is available in several languages, so that allows more client support internationally. You can contact their customer service via the ‘Contact Us’ section. It has two options, either the contact form where you can fill out your details to email Plus500, or live chat.
Plus500 are quick to respond in the live chat and usually get back to you via email within one hour, with relevant answers. Again this is a lot faster compared to other CFD platforms. We think Plus500 is efficient and holds a high standard in customer service, as shown in this Plus500 review.
Plus500 is licensed by ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. As a group, Plus500 also has the following licenses:
Some of the shareholders of Plus500 are large investment banks, including JP Morgan. Plus500 will not let you start trading if you are a minor. Your personal details will need to be verified to use the site, including your identity and bank information. Also, as you are trading CFDs, you do not own or have any rights to the underlying assets.
We know Plus500 safeguards the clients’ personal information through an SSL encryption in both the computer and mobile phone platforms. Plus500 uses an SSL security sign, a lock symbol next to the browser search bar while operating through Plus500. If you click on the lock symbol, it will show you the certification the site uses, which is by DigiCert. (DigiCert SHA2 Extended Validation Server CA).
We searched through several review websites to gather customer feedback for our Plus500 review 2021.
The majority of Plus500 reviews were excellent. There was an emphasis on the efficiency of the website from the customer service to the actual interface. Customers like how simple to use Plus500 is.
Plus500 crypto reviews were also positive as the customers like how competitive the rates are to trade cryptocurrencies and how easily accessible they are.
Although some clients wish the process of withdrawing funds were quicker, Plus500 is exceptionally reliable.
Cryptocurrencies are digital or virtual currencies that use a decentralised network to carry out financial transactions. They are based on a blockchain system, a specific type of database storing information while maintaining the integrity and security of the transactional data. It is the essential component in a cryptocurrency.
We found that cryptocurrencies are impenetrable to government manipulation or interference. Various encryption algorithms safeguard your financial data, and Plus500 reinforces that security on their platform.
You can trade crypto CFDs on Plus500 with several cryptocurrencies. These include Bitcoin, Ethereum, Ethereum/Bitcoin, Litecoin, Crypto 10 Index, Neo, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Ripple XRP, Tron and Monero. The most popular being Bitcoin. Bitcoin was the first cryptocurrency released, back in 2008. It remains the most valuable, despite the thousands of other cryptocurrencies that followed.
Plus500 crypto trading allows the consumer to watch and monitor the cryptocurrencies’ price movements without owning them. Due to the nature of the platform, we found out Plus500 operates online and cannot give you a physical copy of what you are trading. Either in crypto trading or other assets. Plus500 crypto is now a popular choice for traders on all levels.
Plus500 offers most of its service free of charge. They do not charge deposit fees and guarantee you will not have to pay to open or close a trade or roll your position.
In comparison to other trading websites like XTB crypto, Plus500 fees are low.
We researched the additional fees for this Plus500 review (applicable for Australia and New Zealand) here:
Plus500 operates in Australia, New Zealand, and other countries. It is licenced by the ASIC (AFSL #417727), Financial Markets Authority (FSP #486926), and FSCA (FSP #486026).
Following the relevant regulatory requirements, Plus500 holds the clients’ money in segregated, secure accounts. Meaning they do not use the client money for other purposes like hedging. Plus500 uses its own funds for this.
They also do not use the clients’ funds for any investments or business purposes.
Plus500 does not initiate speculative positions in the market. Meaning they will not try and make your trade on a more likely position to lose a significant amount of money.
If under any circumstances Plus500 were to go into liquidation, the clients’ deposits are held for you in a segregated trust account. With the legal protection over those funds.
In addition to Plus500 crypto CFDs, this CFD provider trades other assets. These include forex, shares, stocks, and commodities. There are more than 2000 instruments for you to choose from that use CFDs. Some commodities include Oil, Brent Oil, Gold, Silver and Cocoa.
If you wanted to trade stocks, you could do so whenever the relevant stock exchange is open like in London, New York, or Hong Kong, for example.
Trading Forex is also quite popular in New Zealand as we discovered in our Plus500 review. It is open 24/7, allowing you the client to have the flexibility to trade during the day or night.
It is a highly volatile market which includes EUR/USD, EUR/GBP, EUR/AUD, and AUD/USD. The more volatile the market, the more active it is. In addition to Plus500 crypto trading, when trading other assets, the more movement the market has, the better it is for your capital.
These assets are also highly accessible. The bonus of trading online is the ability to choose from several instruments, and if you are new to the platform, you can always try a demo account provided by Plus500.
We recommend Plus500 as a good CFD trading platform. From the points outlined in this Plus500 review 2021, we believe this CFD provider is extremely reliable.
We mentioned the volatility of trading CFDs and the risk of losing your capital on Plus500. You have the option to trade CFDs on many markets, ranging from cryptocurrencies to shares, to commodities or Forex. These assets are in high demand and always moving on the market, so the client’s opportunities are greater.
When we researched specifically into the Plus500 crypto review, we recognised the popularity of Plus500 bitcoin. Among the other cryptocurrencies, Bitcoin has a lot of attention on the market and a reason for Plus500 being as profitable as it is.
Although there is a limited amount of research and educational features on the platform, Plus500 is easy to use and worth trying.
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