PlusOption – review and feedback on the CFD web trading platform

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Trade Options CFDs at Plus500

Call and put options on Germany 30, Oil and Facebook are available for trading with leverage. Trade on volatility with our flexible option trading CFDs.

Trade Options CFDs with Leverage

Trade on options with up to 1:10 leverage. You can start with as little as 100 € to gain the effect of 1 000 € capital!

Use our Risk Management Tools

Set price alerts and Stops such as Stop Loss and Trailing Stop to manage your risk. To avoid slippage completely, use our Guaranteed Stop and the position will be closed at the exact rate you define.

Simple Account Management

Quick and smooth funding process via bank account, credit card, PayPal or Skrill. Various tools to manage your monetary and trading activity including a free-of-charge notifications service.

  • Plus500 is mainly compensated for its services through the Bid/Ask spread.

Why Plus500?

Simple & Intuitive Platform

Authorised and Regulated

Negative Balance Protection

24/7 Online Support

How does options CFD trading work?

When you trade options you are speculating on the future price (strike price) of an underlying instrument such as a stock, index or commodity. Plus500 offers two types of options CFDs: Call option and Put option – you can Buy or Sell both types. If you enter a position on a Call/Put option, you are essentially entering a contract on the price an underlying instrument will reach (or surpass) at the expiry date.

Puts – A buyer/seller of a “Put Option” expects the price of the underlying instrument to fall/rise.

Calls – A buyer/seller of a “Call Option” expects the price of the underlying instrument to rise/fall.

For example, here is a breakdown of an option on Facebook stock:

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Call 125 | Nov | Facebook

  • Call – The option type (can be either Call or Put).
  • 125 – The strike price, i.e. the price you assume the underlying instrument will surpass at the expiry date.
  • NOV (November 2020) – The option’s expiry date.

In CFD trading, a popular form of day trading, your profit (or loss) is determined by reference to the movement of an option price. You are not buying or selling the option itself.

Plus500 offers a range of Call/Put options CFDs. For a list of available options, click here.

What are the main benefits of trading options CFDs?

Trading on options has some important advantages:
You can experience higher volatility – percentage changes in options tend to be much more significant, meaning they can potentially deliver greater returns (along with greater risks).

It’s possible to open larger positions with lower initial margin as options’ prices are substantially cheaper than their underlying instruments. For example, Alphabet (GOOG) is viewed by some traders as an expensive stock, while the price of an Alphabet option can often be much more affordable – meaning you can buy more units for the same amount of initial capital.

You can diversify your positions by trading on various strike prices. A strike price is defined as the rate the underlying instrument needs to reach by the expiry time in order for the trade to be in profit. We offer multiple Put/Call options CFDs for each underlying instrument.

Plus500 only offers trading in options CFDs. These options CFDs give you an exposure to changes in option prices, they are cash settled and cannot be exercised by or against you or result in delivery of the underlying security. Therefore, when the option CFD reaches its expiry date, the position will be closed.

How does leverage work when trading options CFDS?

Plus500’s options CFDs allow you to amplify your market exposure without the need for a larger amount of capital. With a leverage of up to 1:5, for every $1,000 you deposit you can trade up to $5,000 worth of options.

For example, presuming the stock price of Apple is $200, while the current price of a Call option CFD for $250 (Call 250 | Nov | Apple) is $12 per option. With $120, you could open a trading position on 10 options, valued at $600:

(10 Options x Option Price of $12) x Leverage of 5 = (10 x 12) x 5 = 600.

How do options CFDs expire?

Every option has a predefined expiry date. Typically set for one month ahead. As opposed to regular options traded in the market, Option CFDs’ expiry date is set a few days before that of the underlying options. This is due to very low trading activity on the related contract at this time.

On the date of expiry, the option CFD’s last price is based on the last available rate (and not zero).

How are options CFDs priced?

The main factors determining the price of an option include: (a) the current price of the underlying instrument, (b) the level of volatility in the market, (c) the expiry date and (d) the option’s intrinsic value, defined as the value any given option would have if it were exercised at present time.

In addition, option prices are heavily influenced by their supply and demand in the market.

Prices of options CFDs are referenced to the price movements of the options. When financial markets experience high volatility, Options CFDs’ percentage change tends to move more significantly than the underlying stock or index, due to an increase in implied volatility.

Example 1: Alphabet (GOOG) is trading at $1,000, and you buy a Call option CFD of $1,100 for one month from now at $70. Two weeks later, Alphabet’s price goes up to $1,050, and the option CFD’s price is now $90. As such, your potential profit is 90-70 = $20 per option CFD. This is equivalent to a yield of 28% (20/70 = 0.28), which is much greater than if you would have bought an Alphabet share at $1,000, and profited 5% (50/1000 = 0.05).

Example 2: Alphabet (GOOG) is trading at $1,000, and you buy a Call option CFD of $1,100 for one month from now at $70. Two weeks later, Alphabet’s price goes down to $950, and the option CFD’s price is now $50. As such, your potential loss is 50-70 = -$20 per option CFD. Equivalent to a 28% change of in the price (20/70 = 0.28), as opposed to having bought an Alphabet share at $1,000, and lost 5% (50/1000 = 0.05).

Videforex Review and Tutorial 2020

New Forex broker Videforex can accept US clients and accounts can be funded in a range of cryptocurrencies. Payouts reach 95% per trade.

Traders in Russia welcome
Videforex Facts & Figures
Bonus 100% Deposit Match
Instruments CFD, Forex, Crypto, Binary Options
Demo Account Yes
Min. Deposit $250
Min. Trade $1
Regulated By
MT4 Integration No
Mobile Apps No
Auto Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread
GBPUSD Spread
Oil Spread
Stocks Spread
Forex
GBPUSD Spread
EURUSD Spread
EURGBP Spread
Assets
Binary Options
Payout Percent 85%

Since its launch in 2020, the popularity of the CFD, forex and binary options broker VideForex.com is growing. Boasting its own proprietary financial trading software and platform, it caters for day traders of all experience levels. This page will offer a detailed review of this new brokerage, covering everything from accounts and costs to platforms and regulation. Finally, after considering the benefits and risks, a verdict as to whether this firm makes the list of best day trading brokers will be given.

A Brief History

VideForex.com may have only launched in 2020, but the company behind this new brokerage is also in charge of established BinaryMate. A credible company who is thought to stand by the safety of its traders with a proactive attitude to the protection of funds. So, what does their latest offering, VideForex.com have to offer?

Minimum Initial Deposit

If you are new to day trading, you don’t want hefty minimum deposit requirements. You probably want to dip your toe in the water before you take the plunge. Fortunately, VideForex.com requires an around industry normal deposit of $250 for new trading accounts. They are also offering a 100% deposit match bonus on any first deposit (check the T&Cs suit before using it).

It is also important to note, that whether you’re day trading on VideForex.com for forex, CFDs, or binary options, the minimum requirements will not change.

Spreads & Commissions

Day trading fees and costs can quickly stack up. So, selecting a broker that offers competitive spreads is important. With VideForex.com a spread is normally applied. The spread is dynamic for particular instruments. It will take liquidity and external markets for the underlying financial instrument into account.

Whilst they are not necessarily the cheapest broker on the market they are by no means the most expensive. This means you hopefully avoid the brokers whose fees are so low you pay the price in poor execution speeds and an unreliable platform. Whilst the costs at more expensive brokers will significantly cut into your end of day profits.

Leverage

VideForex.com do offer leveraged trading. This effectively allows you to borrow money to strengthen your position. The benefit to this is that it could significantly increase your profit potential. However, it also comes with the risk that losses will be magnified.

The company restricts all customers by default to a maximum multiplier of 1:100, in line with legislation. In addition, a customer’s loss is limited to their original investment amount, so the remaining amount of equity is protected.

VideForex.com can charge a commission for opening an un-leveraged cryptocurrency CFD position. This could be anywhere from 1 to 2.5% of the transaction. Opt for leveraged CFD cryptocurrency positions and the fee could climb to 5%.

So, if you are looking for forex leverage, VideForex.com can tick that box. Just ensure your strategy and money management system takes into account potential losses.

Other Trading Fees

When you are making a high volume of trades each day, costs can quickly add up. That is why you need to look for trusted online day trading brokers. VideForex.com is one of the limited numbers of brokers who attempt to make their fee structure as transparent as possible.

However, it is worth pointing out that VideForex.com reserve the right to charge a customer a swap fee of 0.07% of the face value of the position, if they wish to hold a position overnight.

It is also worth highlighting that there is no maintenance or registration charge when you sign up for an account with VideForex.com.

Finally, keep an eye on their official website for joining offers and promo codes. Sign up at the right time and you could benefit from free trades.

VideForex.com Trading Platform

As customer reviews of VideForex.com highlight, one of the unique features of this online broker is that they have chosen to design and create their own in-house trading platform. Whilst many will be used to the MetaTrader 4 (MT4) platform, there are certain advantages to the approach taken by VideForex.com:

  • By not using a third-party platform, they can ensure both the quality and reliability of their online trading platform.
  • VideForex.com know precisely what is happening to and on their platform at all times. Hopefully, this can streamline the querying process and ensure any problems and glitches can be ironed out swiftly.

Day trading on the videforex.com platform is straightforward to get to grips with for both beginners and experienced traders. It has been specifically engineered to retain usability, while still offering the variety of sophisticated trading tools and resources many day traders require. For example, in-depth trading tutorials can walk new traders through the platform.

The sleek system makes selecting your financial instrument a hassle-free process. You can get to the currency pairs, commodities and indices of your choice with just a few clicks. Plus, not only do you have your major currency pairings, but you also have access to cryptocurrency pairings and fixed return options.

You will also find that because their platform is web-based, no lengthy downloads are required.

A useful additional feature of the platform comes in the form of their social trading feature, also known as ‘copy trading’. This not only allows you to learn from experienced and successful traders, but it enables you to actually copy the trades of high earning traders.

Mobile Apps

There currently exists no VideForex.com apps options. However, this is partly because they are a relatively new company and there are plans to release their day trading software in the form of an app. So, in the not too distant future, day traders will have this option as well.

Methods of Payment

If you’re using VideForex.com from the UK, US, Europe, or anywhere else, you can deposit and withdraw money conveniently. Videforex.com have embraced the world of digital currencies, so you can now use any of the following methods:

  • Bank wire transfer
  • Credit cards (VISA/MasterCard)
  • Bitcoin
  • Ethereum
  • Litecoin
  • Altcoins
  • Neteller
  • Skrill
  • Perfect Money

This should put all customers at ease, knowing their funds are easily accessible.

Videforex.com Accounts

Whether you are trading VideForex.com CFDs, binary options, or forex, you will have the choice of three different accounts. The amount you deposit will depend on which account type you are eligible for. The three options are as follows:

  • Bronze – The minimum deposit is $250. With this account, you benefit from withdrawals in one hour, 24/7 live video chat support, a demo account option, plus their copy trading tool.
  • Silver – To qualify for the silver account you must deposit a minimum of $1000. You will then benefit from all of the Bronze features, plus you get a personal success manager and a master class web session.
  • Gold – This requires a minimum deposit of $3,000. For that, you will get all the Silver features, plus a bonus of 100%. You will also benefit from an individual account manager, plus have access to a Swiss pre-paid card.

As you can see, the greater your initial capital, the more day trading help you will receive. The switched on intraday trader will be aware that often, the greater tools and resources at your disposal, the better your chances of generating earnings.

Demo Account

Once you have made a deposit, you gain access to a VideForex.com demo account. This is the ideal place to develop a strategy and get familiar with market conditions using simulated money. Then, when you are confident, you can start putting real capital on the line.

Using practice accounts like the one offered by VideForex.com remain one of the top day trading tips for beginners.

Additional Features

Trading Contests

One of most interesting features that this 2020 review of VideForex.com has found, is their weekly contests.

There is no entry cost and twenty winners are listed each week. Both beginners and experienced traders can compete, as all accounts automatically participate. The best part though, a prize fund of $20,000.

Safety & Security

As cybersecurity is on the rise and online scams prevalent, being able to trust your broker with your confidential data is paramount. Fortunately, security at VideForex.com is a priority.

They use a high-tech, sophisticated system to bring you 100% secure trading and full data protection for all customers.

Regulation & License

Unfortunately, day trading websites sometimes suffer from bad press as a result of fraudsters. This makes it all the more important to check your broker can be trusted.

Whilst VideForex.com do comply with financial regulation standards, they are not limited to a specific country’s regulatory framework. They are licensed by the Finance Group Corp, who are located at, 2nd Floor, Transpacific Haus, Lini Highway, Vanuatu. It’s worth noting this means VideForex.com is not regulated by CFTC, like most US forex brokers.

Benefits

The best online trading firms need to tick plenty of boxes, regardless of whether you’re forex day trading, or interested in CFDs and binary options. Customer reviews of VideForex.com reveal there are numerous benefits to this broker:

  • Accessibility – They facilitate day trading for global customers, including the USA and Canada.
  • Low minimum trade size – You can enter positions with just $1. This is ideal for beginners and those with limited start-up capital.
  • Funding methods – VideForex.com facilitate payments via a range of payment types, from credit cards to cryptocurrencies.
  • Customer support – Customer support at VideForex.com is fast and reliable. Very few brokers offer the 24/7 multi-lingual video support found on their system. In day trading, every second counts, so having any glitches or queries remedied and answered efficiently can prove essential.
  • Non-stop trading – You can trade every day and through the weekends. This is ideal for busy traders who have to fit their trading around other commitments.
  • Withdrawal speed – Nothing dulls a win than having a considerable wait to get hold of your profits. If you day trade with VideForex.com, they guarantee your withdrawals will be processed within one hour.
  • Trading contests – VideForex.com regularly run trading contests. Not only are they great practice, but there are also cash prices. You will find more details on these competitions below.

Drawbacks

Despite the numerous benefits, there remain certain drawbacks to day trading with VideForex.com:

  • Web-based limitations – Many of the best online day trading brokers offer a variety of accessible trading platforms. Day trading on VideForex.com, however, restricts you to just their web-based platform. This means all trades must be placed through their website. Having said that, some traders will find this straightforward system convenient.
  • Restricted additions – As a result of their web-based platform, you are unable to utilise certain systems, such as forex expert advisors. It may also mean other indicators and tools will not be compatible.
  • No app – If you place many of your day trades when you are on the move, a trading app can prove useful. As it currently stands, VideForex.com do not offer such a service. However, this is partly because they are still very new. VideForex.com have ensured a mobile app is currently under construction.

VideForex.com Trading Hours

At VideForex.com, you can day trade binary options, forex, and CFDs 24/7. Not every online broker offers this, making VideForex.com a good fit for those with limited time or changing schedules. Quite simply, it ensures entering a position on the way to work, before bed, or late on a Sunday evening will always be an option.

Contact & Customer Support

One of the greatest selling points in this VideForex.com review is their new live video chat feature. You can access this feature directly from their homepage and this should afford traders peace of mind. It’s available to a wide range of users, from US to Australian clients.

Agents will be on hand to remedy any problems, via a public or private live video link. This standard of support assistance is much higher than the industry average. This makes VideForex.com a strong contender for day traders still finding their feet, or those that want re-assurance that live support is just a few clicks away.

If you wanted to contact the company who owns the Forex, CFD and binary options broker, they are called Vide Projects Ltd. Their registration number is 11461 and their address is 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles.

Contact numbers are:

  • USA – 849 937 0843
  • Australia – 61 8 5550 7288

You can also email [email protected]

Verdict

If you are looking for the best online day trading brokers, then VideForex.com deserves a look in. Despite being relatively new, it offers attractive weekly contests, a bespoke trading platform, plus live video support. In addition, with a number of online trading accounts, plus straightforward setup and use, this broker is an attractive proposition for both beginners and experienced traders.

Accepted Countries

Videforex accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Plus500 Platform Review

Plus500 is one of the leading trading platforms specialising in Contracts for Difference. The platform offers investors an opportunity to access various markets, including Shares, Indices, Forex, Cryptocurrencies, ETFs, Options, and Indices. The platform is owned and operated by Plus500 CY Ltd, a subsidiary of Plus500 Ltd, which is listed on the London Stock Exchange’s Main Market.

Plus500UK Ltd is authorised and regulated by the FCA (Financial Conduct Authority). Plus500CY Ltd is authorised and regulated by CySEC (Cyprus Securities Exchange Commission) and is headquartered in Limassol, Cyprus. Plus500AU Pty Ltd is regulated by the Australian Securities and Investments Commission and licensed by ASIC in Australia. Plus500SG Pte Ltd holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products. Plus500IL Ltd is registered in Israel and licensed to operate a trading platform.

76.4% of retail CFD accounts lose money

Screenshots are shown for illustration purposes only. Actual product may vary.

The company conforms with the UK Financial Conduct Authority’s client money protection rules, which means that it doesn’t use clients’ funds for hedging or other purposes. Instead, it keeps clients’ assets in segregated bank accounts, protected under the Financial Services Compensation Scheme. The Plus500 CFD trading platform offers its services to members around the world through different regulated subsidiaries. The web trading platform of Plus500 supports 30 different languages including Spanish, French, Italian, German, and Portuguese.

The trading platform itself is both intuitive and user-friendly, providing a seamless user experience. Plus500 offers a portfolio of over 2000 CFD instruments, including cryptocurrencies. It even allows users to buy and sell a Crypto10 CFD index which follows price movements of the top 10 cryptocurrencies. Moreover, the platform offers a free demo account, allowing investors to test and improve their trading skills without the risk of losing any money.

The following Plus500 review analyses all the main aspects of the CFD trading platform. Although Cryptimi does its best to provide you with accurate and updated information, we strongly recommend that you visit their website to find out about any significant updates which might have taken place following the update of this review.

Is Plus500 Safe?

Plus500 claims that all personal information (credit card numbers, CVV, password, and so on) provided by users are automatically transferred by SSL (Secure Socket Layer) to a secure environment. Also, Plus500 offers Client Money Protection since it does not use client funds for hedging or other investments. It securely stores users’ funds in segregated client bank accounts as per the compensation scheme regulations.

Plus500 CFD Trading Platform

Plus500 allows users to trade CFDs of the most popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin. The platform also offers traders the opportunity to invest in less popular digital currencies, including NEO, IOTA, and Monero. Moreover, with Plus500 you get the exclusive opportunity to invest in the CFD named Crypto 10 Index.

Beyond just cryptocurrencies, Plus500 offers CFD trading in several other markets, including shares, indices, forex, options, commodities, and ETFs. The full and updated list of instruments available on the platform is available on their website.

76.4% of retail CFD accounts lose money

Screenshots are shown for illustration purposes only. Actual product may vary.

Since trading cryptocurrency CFDs does not involve purchasing the asset, you don’t need to own a wallet to store them in. What’s more, when trading on Plus500 you get access to 1:2 leverage when trading cryptocurrencies and you can start with as little as €100.

User Friendliness

When it comes to navigation, the Plus500 trading platform is easy and intuitive. It even provides a convenient option to configure real-time alerts for price movements of your preferred instruments. Essentially, the platform offers three types of alerts:

  • Price Alert – to stay informed when an instrument reaches a specific Buy or Sell price.
  • Change (%) – to get notifications when an instrument’s absolute price change (positive or negative) reaches a certain level.
  • Trader’s sentiments – where notifications will be sent when the percentage of buyers or sellers reaches a certain level.

Plus500 also offers a mobile app (Android / iOS ) to help users for trading on the go.

Plus500 CFD Trading Account

The Plus500 sign-up process is straightforward since you only need to provide an email address to create an account. Apart from trading fees, there are additional fees which are clearly listed on the website. Additionally, Plus500 allows users to conveniently reset their password, in case they forget it.

How to Sign up on Plus500

Follow the below steps to create your account on Plus500.

Screenshots are shown for illustration purposes only. Actual product may vary.

  1. On the Plus500 main page click ‘Start Trading’.
  2. Next, select ‘Real Money’ (unless you would like to start with a demo account, in which case select ‘Demo Mode’).
  3. Enter your email address and password and click ‘Create Account’.

Congratulations! You have successfully created an account with Plus500. You should receive a confirmation email in your inbox shortly afterwards.

How to Log in on Plus500

To log into your account, follow the below steps.

Screenshots are shown for illustration purposes only. Actual product may vary.

  1. Visit the Plus500 main page and click on ‘Log in’
  2. Enter your email address, password and click ‘Log in’

After logging in to your account for the first time, you must provide your personal details and upload the required documents to verify your identity. Once completed successfully, you will be able to start trading on Plus500.

Verification Requirements

In order to start trading on Plus500, users need to verify their account by submitting all the required documents. Since Plus500 follows a strict KYC (Know Your Customer) policy, it needs to verify the personal information, including the date of birth and other valid contact details of all of its clients.

To verify your identity quickly, upload a government-issued identification document which contains all the necessary information. For verifying your residential address, you can upload a copy of a recent utility bill, bank or credit card statement, phone or internet bill and/or a tax letter.

Some jurisdictions accept electronic verification while others require users to provide a hard copy of their documents. Plus500 also asks for users to upload a copy of the bank statement or the front of their debit/credit card, to verify a user’s source of funds. Whilst all this information may seem like a hassle, Plus500 must comply with strict due diligence requirements in order to maintain its licences and keep all users safe.

How to Buy or Sell Bitcoin CFDs with Plus500

Follow the below steps to buy or sell Bitcoin CFDs on the Plus500 trading platform. Before placing your order, ensure that you have sufficient funds available in your account.

Screenshots are shown for illustration purposes only. Actual product may vary.

How to Deposit Funds on Plus500

Follow the below steps to deposit funds on your account. The minimum amount of deposit varies depending on your chosen payment method. For example, you need to deposit a minimum of €100 if you are using credit or debit cards.

  1. Log in to your account and click ‘Menu’-> Funds Management->’Deposit’.
  2. Select your desired payment method from the list of options (i.e. PayPal, Skrill, Bank Transfer, Credit/Debit card).
  3. Enter the amount of your deposit (ensuring that the deposit amount is within the minimum/maximum limits displayed on your screen).
  4. Fill in all the required fields. Be sure to provide your card number, expiry date and CVV, in case you select credit or debit cards as your payment option.
  5. Click ‘Make a deposit’.

You should see a confirmation window with the message ‘Your deposit was approved!‘. Depending on the processing time of your payment provider, funds will be credited to your Plus500 account.

Whilst still logged in to your account, you can now proceed to buy Bitcoin CFDs on Plus500. All you need to do is:

  1. Click Trade –> Cryptocurrencies.
  2. Here, you will see the full list of CFDs on cryptocurrencies. Click ‘Buy’ or ‘Sell’ button when you come across the Bitcoin icon.
  3. Now, a window will appear on the right-hand part of your screen with several fields. Enter the number of contracts, and optionally, set profit and/or stop-loss levels.
  4. The required margin for the position will be displayed on your screen. You need to make sure that you have sufficient funds in your account to meet the margin amount. Otherwise, you can adjust the number of contracts accordingly.
  5. Click ‘Buy’ or ‘Sell’ to open a position. You would initially sell a Bitcoin CFD if you are planning to short Bitcoin.

Once your order is processed, real-time information about your open position such as required margin, Profit/Loss will be updated. To close a position, just click the ‘Close’ button that appears next to an open position.

76.4% of retail CFD accounts lose money

Warning: Since CFDs are complex instruments, they always come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page.

Since trading CFDs is completely different from trading cryptocurrencies, it is highly recommended to understand the following terminologies:

  • CFD (Contract For Difference) – is a form of derivative trading that allows traders to speculate on the rise or fall of prices of instruments like shares, cryptocurrencies and commodities.
  • Spread – this normally indicates the difference between two prices, rates, or yields. It can also be defined as the gap between bid and asking price of an asset or security. It can also be the difference between a short position (selling) and long position (buying).
  • Derivative – is a contract that derives its value from the performance of an underlying entity. This underlying entity can be an asset, index or interest rate. Some examples of derivatives are futures, options, swaps and forwards.
  • Pip (Point in Percentage) – is a very small measure of the change in a currency pair in forex trading.
  • Order – is a request to open a position at a specified price.
  • Initial Margin – is the minimum amount of funds required to open a new position. It varies based on the instrument type.
  • Maintenance Margin – is the amount of equity needed by a customer to keep a position open.

How to Cash Out on Plus500

Plus500 allows users to withdraw their funds using different payment methods, including bank transfer, credit or debit cards or electronic wallets (PayPal/Skrill). The minimum withdrawal requirements vary based on the payment method. Follow the below steps to place your withdrawal request:

  1. Log in to your Plus500 account and click on Menu->Funds Management->Withdraw.
  2. Select your desired withdrawal method and enter the amount of withdrawal (ensuring that the amount is within the minimum/maximum limits displayed on your screen).
  3. Fill in all the required fields related to your payment method. For example, you must provide your account number, name and other details, for a bank transfer.
  4. Click ‘Open Withdrawal’.

At this point you should see a confirmation window with the message: ‘Your withdrawal was successfully submitted’. Generally, the processing time for a withdrawal request is one business day. Depending on the processing time of your payment provider or bank, funds will be credited to your account.

Supported Cryptocurrencies

Currently, Plus500 supports the following cryptocurrency CFDs:

  • Bitcoin (BTCUSD)
  • Ethereum/Bitcoin (ETHBTC)
  • Ethereum (ETHUSD)
  • Crypto 10 Index (Crypto10)
  • Litecoin (LTCUSD)
  • NEO (NEOUSD)
  • Ripple XRP (XRPUSD)
  • IOTA (IOTUSD)
  • Monero (XMRUSD)
  • Stellar (XLMUSD)
  • EOS (EOSUSD)
  • Bitcoin Cash ABC (BABUSD)
  • Cardano (ADAUSD)
  • Tron (TRXUSD)

To get the full list of cryptocurrency CFDs supported by Plus500, check out their website.

Supported Countries

Plus500 accepts members from over 50 countries worldwide to trade.

Supported

Except for the countries listed in the section below, Plus500 is available for all countries including those in the majority of EU, United Kingdom (UK), Australia, Switzerland, United Arab Emirates, Qatar, New Zealand, South Africa, Singapore, Saudi Arabia, Oman, Mexico, Malaysia, Bahrain, Hong Kong, Chile, Colombia, Israel, and Argentina.

76.4% of retail CFD accounts lose money

Excluded

At present, Plus500 does not accept users from the following countries: US, India, Japan, El Salvador, Belgium, Turkey and Vietnam.

Platform Fees & Limits

Every CFD trading platform has its own fee structure and limits, and Plus500 is no different.

Trading Fees

Since Plus500 is mainly compensated for its services through the market spread, it doesn’t charge any commissions on each trade. However, a fee is applicable if you place a ‘Guaranteed Stop Order’. An Overnight Funding fee (explained below) might be applicable, depending on your trading activity.

Overnight Funding

The overnight funding amount will be added to or subtracted from your account when holding a position after a certain time in the day. The fee varies depending on the cryptocurrency chosen. For example, overnight funding percentage for Bitcoin (BTCUSD) is 0% (Sell) and -0.0503% (Buy). To find out Overnight fees for specific cryptocurrencies check out the Plus500 Instruments page, select the token and click the link titled ‘View full details’.

Inactivity Fee

A fee of up to $10 is applicable if users don’t log on to their trading platform for a period of three months. However, the fee will be deducted only if there are sufficient funds available in the account.

Spread Fee

Plus500 offers a fixed or dynamic spread for its instruments. The calculation of spread can be done by subtracting the relevant selling price from the buying price of the chosen instrument. The dynamic spread can change during the period in which a position is open, whereas a fixed spread remains unchanged from the moment you open the position until the moment you close it.

Screenshots are shown for illustration purposes only. Actual product may vary.

Spread fees for individual tokens can also be found on the Plus500 Instruments page. This section has other useful information, including initial margin, maintenance margin, leverage and, as previously mentioned, the overnight funding fee.

At the time of writing, the ‘Spread‘ and ‘Spread (%)‘ for various cryptocurrency CFDs were as follows:

  • Bitcoin (BTCUSD) : 36.01, 0.41%
  • Ethereum/Bitcoin (ETHBTC): 0.0003, 1.35%
  • Ethereum (ETHUSD): 2, 0.93%
  • Crypto 10 Index (Crypto10): 39.7, 1.25%
  • Litecoin (LTCUSD): 0.62, 0.67%
  • NEO (NEOUSD): 0.2, 1.69%
  • Ripple XRP (XRPUSD): 0.0062, 1.98%
  • IOTA (IOTUSD): 0.01, 3.28%
  • Monero (XMRUSD): 1.75, 2.18%
  • Stellar (XLMUSD): 0.021,2.46%
  • EOS (EOSUSD): 0.044, 0.98%
  • Bitcoin Cash ABC (BABUSD): 2.58, 0.86%
  • Cardano (ADAUSD): 0.0009, 1.56%
  • Tron (TRXUSD): 0.0006, 2.62%

Deposit/Withdrawal Fees

Generally, Plus500 doesn’t charge any fees to deposit/withdraw funds. However, a fee of $10 is applicable if users exceed the maximum number of monthly withdrawals, which is 5. If you are making international credit card transactions and using a currency that is not supported by the platform, then a conversion fee may be applicable. In this case, the conversion fee will be determined by your payment provider or bank, and not by Plus500. Refer to the ‘Fees’ and ‘Limits’ sections of this review to know more about deposit/withdrawal limits.

Warning: Since CFDs are complex instruments, they always come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page.

Limits

The deposit/withdrawal limit varies depending on your chosen payment method and these details will be displayed on your account dashboard. For example, the minimum deposit/withdrawal limit for credit/debit card is €100. For trading cryptocurrency CFDs, your account balance should be greater than or equal to the initial margin which is calculated using the following formula:

IM = position’s opening price*size of the trade*initial margin percentage

Initial margin percentage for cryptocurrency CFDs is fixed at 50.00%. The leverage offered by Plus500 for all cryptocurrency CFDs is 1:2.

Supported Payment Methods

Plus500 supports a wide range of fiat payment options which are given below:

  • Credit/Debit cards (VISA/Master)
  • Bank Transfer
  • PayPal
  • Skrill

Warning: Since CFDs are complex instruments, they always come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page.

Plus500 Security

Like most platforms, Plus500 also provides 2FA protection (via SMS) to protect users’ accounts from unauthorized access. In addition to this, users can also be notified if a login is attempted from a new device.

Plus500 Customer Support

The trading platform offers 24/7 support to its customers via Email and WhatsApp. To contact their customer support via email, navigate to their support page, fill out the required information and click on ‘Send query’. Alternatively, you can send a message to their WhatsApp number, and you will probably get a much quicker response. For general queries, users can refer to the articles listed on the FAQs section of the website.

Top Competitors

Plus500 vs eToro

Both platforms offer trading in CFDs for a wide selection of cryptocurrencies like Bitcoin, Ethereum, Litecoin, as well as other markets. Like Plus500, eToro is authorised and regulated by CySEC. Regarding fees, Plus500 doesn’t charge any fee for deposits/withdrawals, whereas a small crypto transfer fee and withdrawal fee is applicable with eToro, which incidentally supports more cryptocurrency CFDs than Plus500. In addition, eToro lets you buy a handful of cryptocurrency assets whilst Plus500 offers solely CFDs.

Plus500 vs AvaTrade

Both CFD trading platforms are regulated by a European financial regulator and offer trading in CFDs for the top cryptocurrencies including Bitcoin, Ethereum, Litecoin. Both Plus500 and AvaTrade allow users to trade on the go with their mobile apps. When compared to AvaTrade, Plus500 supports a larger number of instruments including shares, commodities, and cryptocurrencies.

Conclusion

With its intuitive user interface, a free demo account and 24/7 customer support, Plus500 is an excellent platform for trading CFDs. Providing a combination of educational support and detailed charting tools, the platform is ideal for both novice and experienced traders. Since it is regulated, users can be assured that their details and funds are duly protected and secured. Nevertheless, trading CFDs is still considered to be a high-risk investment, especially when using leverage.

76.4% of retail CFD accounts lose money

Warning: Since CFDs are complex instruments, they always come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page.

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