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Plus 500 Review for Cryptocurrency 2024

Plus500
4.5

Plus500 is a licensed cryptocurrency brokerage facilitating crypto trading via CFDs for traders across 50+ countries. They also offer services in CFDs for stocks and futures trading. Plus500 offers trading facilities for 15+ cryptocurrencies, along with crypto indices and crypto/crypto pair trading. The intuitive, feature-rich app helps traders act quickly on market opportunities.

Pros & Cons

  • Pros
  • 2,800+ instruments
  • Real-time quotes
  • Low fees, zero commissions and tight spreads
  • Fast and secure withdrawals
  • Negative balance protection
  • Robust risk management with GSLO
  • Intuitive and customisable proprietary platform
  • Cons
  • The trading platform does not have back-testing functionality.
  • Cannot integrate third-party analysis tools

Plus500 Overview

Plus500 is a brokerage serving over 24 million registered traders across 50+ countries. It facilitates secure trading in more than 2,800 instruments, including the 10 most popular cryptocurrencies and some others. The company is listed on the FTSE 250 on the London Stock Exchange’s main market. The multi-regulated brokerage is popular among traders for its exceptional customer service in multiple languages.

Traders get access to a demo account to practise their skills on and have the opportunity to learn from its wealth of comprehensive trader education resources. The broker’s risk management tools empower traders to take control of their open positions by helping them lock in profits and limit losses. In addition to flexible order types, it offers guaranteed stops in certain markets.

What I liked is that their interface provides a lot of information without making it overwhelming. The information is well-organised, and the navigation is intuitive. Their proprietary platform is easy to customise. I could easily customise the charts and create watch lists. A streamlined experience across devices makes the trading platform a great choice if you’re always on the move and require anytime, anywhere trading facilities. Plus500 is an industry leader among global brokerages.

  • Overall
    4.0
  • Fees
    4.0
  • Deposit and Withdrawal
    4.5
  • Asset selection
    4.5
  • Ease of account opening
    5.0
  • Regulation and Security
    5.0
General info
Headquarters United Kingdom
Website https://www.plus500.com/
Website Languages English, Czech, Spanish, Icelandic, Hungarian, Portuguese, Slovenian, Bulgarian, Chinese, Danish, Greek, Italian, Dutch, Russian, Finish, Hebrew, German, French, Latvian, Norwegian, Romanian, Swedish, Arabic, Estonian, Croatian, Lithuanian, Polish, Slovak, Turkish
Regulated check
Country of Regulation South Africa, Seychelles, UK, EU, Mauritius, BVI, Curaçao and Sint Maarten Kenya
Regulation Type FCA / CySEC / FSCA / FSC / FSA
Account Base Currencies EUR / USD / CAD / AUD / ILS / GBP / JPY / CHF / HKD / NZD / SGD / NOK / SEK / DKK / PLN / KES / BGN / RON / SAR / AED / HUF / CZK / BRL BHD, BND, CNY, EGP, GHS, IDR, INR, JOD, KRW, KWD, KZT, MAD, MXN, MYR, NGN, OMR, PHP, PKR, QAR, UAH, UGX, UZS, VND, XOF, ZARAMD, AUC, CAC, CHC, CLP, COP, DZD, EUC, GBC, GEL, HRK, ILS, ISK, KGS, LBP, LKR, MAGUSD, MAUUSD, MBAUSD, MBBUSD, MBCUSD, MBDUSD, MPDUSD, MPTUSD, NPR, RUR and SYP info
Staking and Rewards uncheck
Minimum Deposit $10
Deposit Fee
Deposit Types Bank wire / Skrill / Neteller / PerfectMoney
Minimum Withdrawal $1- $100 Payment prcessor dependent info
Withdrawal Fees
Crypto-to-Crypto Trading Pairs uncheck
Cryptocurrencies as CFDs check
Islamic Account uncheck
Demo Account check
Research & Education Tools check
Customer Support Email / Live chat / Phone
Customer Support Languages English / Spanish / Arabic
Support Days & Hours 24/7
Automated Trading check
Social Trading check
Copy Trading check

Company Background

Founded in 2008 in Haifa, Israel, Plus500 is a publicly traded company on the London Stock Exchange (LSE) and listed on the FTSE 250. The company’s goal is to provide reliable and intuitive access to financial opportunities for all its clients. The brokerage launched its first web app in 2010 and became the first brokerage to introduce Bitcoin CFDs in 2013. The multi-asset fintech group operates proprietary technology-based trading platforms. It operates in 50+ countries with offices in London (the UK), Sydney (Australia), Limassol (Cyprus), Tel Aviv (Israel), Sofia (Bulgaria), Singapore and Victoria (Seychelles). Over the years, the company has collaborated with a variety of sports clubs to enhance its global positioning.

 

Plus500 is dedicated to operating responsibly and sustainably. For this, it regularly undertakes ESG (environmental, social, and corporate governance) initiatives to create tangible value for people both inside and outside the company.

Unique Features

In our Daily Crypto review, we found the best feature of Plus500 to be the cohesiveness of the web application and mobile app, giving traders a unified experience across devices. What is appealing is that the layouts feel similar to those used by experienced traders. Plus500 offers advanced charting facilities, with 109 indicators and 20+ drawing tools, usable on 13 different chart types. The multiple chart views enable traders to view up to 9 different charts at the same time.

The broker consistently upgrades the trading platform to meet the dynamic requirements of its ever-expanding trader base. The proprietary platform can be customized by the user, based on their preferences to analyze charts, create watchlists and monitor their trading activities and statistical reports. Another great feature of the platform is that the demo account can be swapped with the trading account with a single click when opened in the same window.

What is the Downside of Plus500?

What I miss most is that their trading interface is not integrated with the latest news headlines. You can access the economic calendar, though. Adding news can further simplify trading and improve the overall experience with this brokerage.

Plus500 Crypto Fees

FeesAmount
Deposit Fee $0
Credit/Debit card Deposit Fees $0
E-wallets Deposit Fees $0
Bank transfer Deposit Fees $0
Withdrawal Fee $0
Credit/Debit card Withdrawl Fees $0
E-wallets Withdrawl Fees $0
Bank transfer Withdrawl Fees $0
Inactivity Fees check
Swap Fees(Instead of Overnight Fees) check
Spread / Commission Fees check
Currency conversion Fee check
Max Leverage 1:2
Minimum Spread 91.25

Trading Fees

Plus500 does not charge any additional trading fees. The amount of margin required for each trade depends on the cryptocurrency being traded. There is no fee for opening guaranteed stop loss orders (GSLO). Although there are no discounts, professional traders do enjoy cash rebates.

Leverage Fees 

Plus500 charges overnight fees on crypto CFD positions, which are held open over 5 pm New York time. Although these fees are applied to all positions, they are often known as “leverage fees”.

Plus500 Payment Methods

This brokerage supports all the globally popular money transfer mechanisms, including:

  • Bank Cards – Visa and Mastercard
  • PayPal
  • BPAY
  • Skrill
  • Apple Pay
  • Google Pay

Deposit & Withdrawal

Funding methodSupportedMinimum DepositMinimum Withdrawal
Bank wire check
Credit Card check
PayPal check
Skrill check
Neteller uncheck
FastPay uncheck
UnionPay uncheck
PayRedeem uncheck
PerfectMoney uncheck
POLi Payments check
Przelewy 24 uncheck
Payoneer uncheck
Rapid Transfer uncheck
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Deposits and withdrawals are seamless and free of charge at Plus500. The broker does not levy any money transferring fees. However, the trader’s payments issuer bank may charge such fees, which will be borne by the trader. These may include international card transactions or the exchange of an unsupported currency.

Adding or withdrawing funds is simple on the Plus500 platform:

Step 1: Click on the Funds tab on the trading platform interface.

Step 2: Click Deposit/Withdraw.

Step 3: Select the preferred deposit or withdrawal method.

Step 4: Set the Amount. (You can check your account status and seek help via live chat for any queries)

Step 5: Click Open a Withdraw/Deposit.

What is comforting is that you are notified on all updates regarding the progress of your request.

Plus500 Supported Cryptocurrencies

Coin nameCoin SymbolCoin icon
AvalancheAVAXAvalanche
BitcoinBTCBitcoin
TetherUSDTTether
EthereumETHEthereum
BinanceBNBBinance
CardanoADACardano
ChainlinkLINKChainlink
CosmosATOMCosmos
DaiDAIDai
DogecoinDOGEDogecoin
EOSEOSEOS
LitecoinLTCLitecoin
MoneroXMRMonero
PolkadotDOTPolkadot
PolygonMATICPolygon
RippleXRPRipple
Shiba InuSHIBShiba Inu
SolanaSOLSolana
StellarXLMStellar
ToncoinTONToncoin
TRONTRXTRON
UniswapUNIUniswap
UNUS SED LEOLEOUNUS SED LEO
USD CoinUSDCUSD Coin

Crypto Pairs

  • Bitcoin/Ethereum

Crypto Indices

  • Crypto 10

Cryptocurrency CFDs with Plus500

CFDs are leveraged instruments that allow speculation on the future price of the underlying asset without actually owning the asset. This allows traders to speculate on both rising and falling prices. Using leverage amplifies profit potential for traders. However, leverage must be used with caution since it also magnifies losses when they occur.

Trading cryptocurrencies with Plus500 via CFDs frees you up from having to procure and store cryptocurrencies while giving you exposure to the digital asset class. There is no need to worry about maintaining a crypto wallet or securing its credentials.

Plus500 Trading Platform

PlatformSupported
Proprietary Platform check
MetaTrader 4 (MT4) uncheck
MetaTrader 5 (MT5) uncheck
cTrader uncheck
DupliTrade uncheck
ZuluTrade uncheck

How Do You Trade Cryptocurrency with Plus500?

Trading any instrument with Plus500 is seamless, with a cohesive platform experience across its mobile and web apps:

Step 1: Log into your account

Step 2: Click Trade

Step 3: Select the instrument you want to trade

Step 4: Click Buy/Sell

Step 5: Set position parameters

Step 6: Set risk parameters

Step 7: Click Buy/Sell

How to Open a Plus500 Account?

Opening an Account with Plus500 is also simple and quick. Just follow the steps below:

 

Step 1: Click Start Trading on the website.

Step 2: You will be redirected to a Registration Page, where you need to fill in your details to register.

Step 3: Select the Account Mode as Demo or Real Money mode.

Step 4: In the next window, choose the mode to Verify Account to verify your identity with documents and contact information for further communication.

 

Now you are all set to customize the settings and start trading. Remember, your account approval may take up to 24 hours.

Plus500 Regulation & Security

Plus500 is regulated and licensed by several leading regulatory bodies, Tier-1 through Tier-4, from across the globe:

Country of the RegulatorName of the RegulatorLicence Number
AustraliaAUSTRAC – Australian Transaction Reports and Analysis Centre417727
New ZealandFMA – Financial Markets Authority486026
SeychellesFSA – Financial Services AuthoritySD039
South AfricaFSCA – Financial Sector Conduct Authority47546
CyprusCySEC – Cyprus Securities & Exchange Commission250/14
United Kingdom (UK)FCA – Financial Conduct Authority509909
SingaporeMAS – Monetary Authority of SingaporeCMS100648-1
AustraliaASIC – Australian Securities & Investment Commission417727

Plus500 is also registered with the Israel Securities Authority to operate a trading platform in the country. The brokerage offers negative balance protection, mandated by the ESMA so that clients never lose more money than they have put into their accounts.

Customer Service

Customer Support
Days Sunday to Sunday
Hours 24/7
Live Chat check
Email check
Phone uncheck
Supported Languages English / Spanish / Arabic
How fast was customer support when we tried? Normal

Why Should I Use Plus500?

Plus500 offers leveraged CFD trading, allowing you to take advantage of market opportunities with limited capital. Its robust risk management facilities help you mitigate the risks that come with using leverage. Reliable and fast order execution ensures minimal slippage. Free-of-charge advanced analytical tools help you strengthen your trading strategy. In addition, the easy-to-use platform offers an elevated trading experience.

Conclusion

Plus500 is a trusted brokerage for trading cryptocurrencies via CFDs by traders from over 50 countries. Cryptocurrencies can be traded 24×7 in any direction without a crypto wallet. The intuitive interface of the customisable proprietary trading platform allows traders to make the most of the available opportunities without delay. Customer service via chat and email is commendable. The brokerage consistently innovates to elevate the customer experience by adding new features to its platform. It is most suited for traders with a flair for independent data analysis and an inclination towards an easy-to-use trading interface.

FAQ

  • Is Plus 500 regulated?
    Yes, Plus500 holds licenses issued by regulatory bodies in 10+ countries.
  • Is Plus500 a safe platform?
    Yes, Plus500 holds all client funds in segregated bank accounts to ensure maximum protection of funds for its traders. The brokerage is authorised by six Tier-1, three Tier-2 and one Tier-4 regulator. This lends it a high trust score from clients in more the 50 nations.
  • What is the minimum deposit for Plus500?
    The minimum deposit is a hundred units of the fiat currency with which the trader prefers to fund their trading account. For instance, it can be $100 or €100, depending on where the trader is located.
  • Can I withdraw crypto from Plus500?
    No, you cannot withdraw cryptos from Plus500. Plus500 facilitates crypto CFD trading, which means you get exposure to the crypto market without buying any coins. You can withdraw any profits made in your base currency.
  • Is Plus500 a good crypto trading platform?
    Yes. Plus500 is a great platform for retail traders. It has over 24 million registered customers who have opened over 300 million positions through the broker’s proprietary trading platform.
author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.