What is Plus500？

Plus500 is an online trading platform that offers Contracts for Difference (CFDs) on a range of financial instruments including stocks, forex, commodities, cryptocurrencies, options, and indices. The platform was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.

What Type of Broker is Plus500？

Plus500 is a CFD (Contracts for Difference) broker, which means that it offers trading on derivatives based on various financial assets without actually owning the underlying assets. Traders can speculate on the price movements of assets such as stocks, forex, commodities, cryptocurrencies, and indices without having to buy or sell the assets themselves. As a CFD broker, Plus500 allows traders to take both long and short positions, and offers leverage which can increase potential profits (and losses).

Pros & Cons

Plus500 is a good option for traders looking for a user-friendly platform to trade a wide range of markets and instruments, with competitive spreads and no commissions.

However, traders who require advanced charting tools, educational resources, and alternative trading platforms may need to consider other brokers.

Note that the information presented in the table is based on general observations and may vary depending on individual circumstances and preferences.

Plus500 Alternative Brokers

There are many alternative brokers to Plus500, and the best one for you will depend on your individual trading needs and preferences. Here are some popular alternatives to Plus500:

• eToro: eToro is a social trading platform that allows you to copy the trades of other traders. It offers a wide range of trading instruments and has a user-friendly platform.

• IG: IG is a well-established broker that offers a wide range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

• XM: XM is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

• Pepperstone: Pepperstone is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

• IC Markets: IC Markets is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

It's important to do your own research and compare the features and fees of different brokers before making a decision.

Is Plus500 Safe or Scam？

Plus500 is considered legitimate as it is authorized and regulated by several top-tier financial authorities, including the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base. However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker.

How are you protected？

Plus500 takes several measures to ensure the safety and protection of its clients, and the fact that it is a regulated broker provides additional reassurance to clients. Here is a table outlining how Plus500 protects its clients:

Note: This table provides a brief overview of Plus500's client protection measures and is not exhaustive. Clients should always refer to Plus500's official website and legal documents for complete and up-to-date information.

Our Conclusion on Plus500 Reliability:

Overall, Plus500 appears to be a reliable broker with a strong emphasis on client protection. The company is regulated by multiple reputable financial authorities, has a robust risk management system in place, and offers negative balance protection to clients. Plus500 also uses encryption technology to protect clients' personal and financial information.

However, it is important to note that no broker is completely risk-free, and clients should always carefully consider their investment goals and risk tolerance before trading with any broker.

Market Instruments

Plus500 offers a wide range of trading instruments including:

• Forex pairs - major, minor, and exotic currency pairs

• Stocks - CFDs on stocks from various international markets

• Indices - CFDs on major stock indices like S&P 500, Nasdaq, FTSE 100, and more

• Commodities - CFDs on precious metals, energies, and agricultural products

• Cryptocurrencies - CFDs on popular digital currencies like Bitcoin, Ethereum, Litecoin, and more

Accounts

Plus500 offers two types of accounts: a live trading account and a demo account.

The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,000 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread.

The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.

Leverage

Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients.

For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients.

It's important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.

Spreads & Commissions

Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads can start from as low as 0.5 pips for major currency pairs like EUR/USD. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.

Below is a comparison table about spreads and commissions charged by different brokers:

Note that spreads and commissions are subject to change and can vary depending on the account type, trading platform, and other factors. Traders should always check the broker's website for the most up-to-date and accurate information.

Trading Platforms

The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages.

The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money.

Overall, the Plus500 trading platform is well-designed and functional, but it may lack some of the advanced features found in other trading platforms. See the trading platform comparison table below:

Deposits & Withdrawals

Plus500 offers several deposit and withdrawal methods, including:

• Credit/debit card (Visa or Mastercard)

• PayPal

• Bank transfer

• Electronic wallets (Skrill, Neteller)

It's worth noting that the availability of certain payment methods may vary depending on your location.

Plus500 does not charge deposit or withdrawal fees, but some payment providers may charge transaction fees, which should be checked with the provider directly. Plus500 also requires users to withdraw funds using the same payment method that was used for depositing funds, up to the deposited amount. Any excess profits can be withdrawn using any other payment method supported by Plus500.

Minimum deposit requirement

The minimum deposit requirement for Plus500 varies depending on the jurisdiction and the account type. In general, the minimum deposit ranges from $100 to $1,000. For example, in the UK, the minimum deposit is £100. In Australia, it is AUD 100, and in the EU, it is €100. It is recommended to check the specific minimum deposit requirement for your country and account type on the Plus500 website.

Plus500 minimum deposit vs other brokers

Plus500 Money Withdrawal

To withdraw funds from Plus500, you need to follow these steps:

Step 1: Log in to your Plus500 account and click on the “Funds Management” tab.

Step 2: Click on “Withdrawal” and select your preferred withdrawal method.

Step 3: Enter the amount you wish to withdraw and any additional information required for the withdrawal method you have chosen.

Step 4: Click on “Submit” to initiate the withdrawal process.

It is worth noting that Plus500 may require additional documentation or information to verify your identity before processing your withdrawal request. The processing time for withdrawals may also vary depending on your chosen withdrawal method.

Fees

Plus500 charges overnight funding fees for holding positions overnight. There are no fees for deposits and withdrawals, and inactivity fees only apply after three months of inactivity.

The overnight funding fee is a cost incurred for holding positions overnight and can be a credit or debit to your account depending on the direction of the position and the prevailing interest rates. The funding rate varies based on the instrument traded.

It is important to note that Plus500 may also charge additional fees for certain actions like guaranteed stop-loss orders or currency conversions.

Overall, while the fees for Plus500 are relatively low, traders should be aware of the potential for higher overnight funding fees, as well as any additional fees that may apply for certain actions.

See the fee comparison table below:

Customer Service

Plus500 offers customer service through email, WhatsApp and live chat. The live chat is available 24/7, while email and WhatsApp support is available during business hours. Plus500 also provides an extensive FAQ section on their website, which covers many commonly asked questions about their services and trading platform.

You can also follow Plus500 on some social networks such as Facebook, Twitter and Instagram.

Overall, Plus500's customer service is considered to be adequate, with prompt responses and helpful support staff. However, some users have reported difficulty reaching support during busy times or experiencing long wait times for responses to their queries.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Plus500's customer service.

Education

Plus500 provides an educational section on their website, which includes video tutorials, a demo account, and a FAQ section. The educational resources cover topics such as trading basics, technical analysis, and risk management. However, the educational content is relatively limited compared to some other brokers and may not be sufficient for beginners looking to learn about trading.

Conclusion

Overall, Plus500 is a reputable and reliable online broker that offers a user-friendly trading platform, competitive spreads, and a wide range of trading instruments. It has a strong regulatory framework and offers various measures to protect its clients. Plus500 also provides excellent customer service with a 24/7 support team available via live chat.

However, Plus500 does have some drawbacks, such as limited educational resources, lack of a dedicated account manager, and a relatively high inactivity fee. Additionally, the broker's trading platform may not be suitable for advanced traders who require advanced charting tools and features.

In summary, Plus500 is an excellent option for beginner traders who are looking for a straightforward and easy-to-use trading platform with a low minimum deposit requirement. It is also a good choice for experienced traders who prioritize a strong regulatory framework and reliable customer service over advanced trading features.

Frequently Asked Questions (FAQs)

General Information & Regulation

FXGiants is an international online broker that offers retail and institutional traders across the globe access to trade over 200+ instruments from multiple asset-classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.

FXGiants, registered in Bermuda, operates as an unregulated broker. While it offers a diverse range of market instruments, including Forex, Metals, Indices, Commodities, Futures, and Shares, investors should approach the platform with caution due to the lack of regulatory oversight. The maximum leverage ranges from 200:1 to 1000:1, providing traders with flexibility but also exposing them to higher risks. Spreads and commissions vary across different account types, with options such as fixed spreads, zero spreads, and variable spreads. The absence of regulation raises concerns about investor protection and transparency. Additionally, limited deposit options, the absence of a demo account, and unclear minimum deposit requirements can be considered disadvantages. However, FXGiants offers robust trading platforms, including MetaTrader 4 and PMAM, along with VPS hosting services for enhanced performance. The customer support team is responsive and available via phone, email, and live chat. Traders can access educational resources through the company's blog, although the offerings may be limited. In summary, FXGiants provides a wide range of trading options but requires careful consideration of the associated risks and limitations.

Is FXGiants legit or a scam？

No, FXGiants, registered in Bermuda, operates without holding any licenses and is not subject to regulatory oversight from any governing bodies. As a result, investors should approach the platform with caution and carefully assess the risks involved. The absence of regulatory supervision means that there are no guarantees regarding the platform's compliance with industry standards and customer protection measures. It is advisable for investors to conduct thorough due diligence, seek professional advice, and consider alternative regulated options to ensure the security of their investments.

Pros and Cons

FXGiants offers a range of advantages and disadvantages for traders. One of the key advantages is the availability of diverse market instruments, including Forex, Metals, Indices, Commodities, Futures, and Shares, allowing traders to diversify their portfolios. FXGiants also offers multiple account types, providing flexibility for traders to choose the one that aligns with their preferences. Additionally, FXGiants provides high leverage up to 1000:1. However, a significant drawback is the lack of regulation, which raises concerns about investor protection. The limited deposit options and the absence of a demo account for practice trading are also notable disadvantages. Moreover, the unclear minimum deposit requirement and limited educational resources may hinder comprehensive learning. Traders should carefully consider these factors before engaging with FXGiants.

Markets Instruments

1. Forex: FXGiants offers a wide range of currency pairs for trading in the Forex market. Forex, also known as foreign exchange, involves the buying and selling of currencies. Traders can speculate on the price movements of major, minor, and exotic currency pairs, taking advantage of the volatility and liquidity of the Forex market.

2. Metals: FXGiants allows trading in precious metals like gold, silver, platinum, and palladium. These metals are considered as safe-haven assets and are often used as a hedge against inflation or economic uncertainty. Traders can take positions on the price movements of these metals, benefiting from both rising and falling markets.

3. Indices: FXGiants provides access to a variety of global stock indices, such as the S&P 500, FTSE 100, DAX 30, and Nikkei 225. Stock indices represent a basket of stocks from a specific exchange or sector and are used to gauge the overall performance of a market. Traders can speculate on the direction of these indices, capitalizing on market trends and economic indicators.

4. Commodities: FXGiants offers trading opportunities in popular commodities like oil, natural gas, and agricultural products. Commodity markets involve the buying and selling of physical goods, including energy products, metals, and agricultural produce. Traders can take advantage of price fluctuations in these markets, driven by factors such as supply and demand dynamics, geopolitical events, and weather conditions.

5. Futures: FXGiants allows trading in futures contracts, which are agreements to buy or sell an underlying asset at a predetermined price and date in the future. Futures cover a wide range of assets, including commodities, stock indices, and currencies. Traders can speculate on the future price movements of these assets, taking advantage of leverage and the ability to profit in both rising and falling markets.

6. Shares: FXGiants provides access to trading shares of major companies listed on global stock exchanges. Share trading allows investors to take ownership in a company and participate in its growth and profitability. Traders can speculate on the price movements of individual stocks, leveraging fundamental and technical analysis to make informed trading decisions.

These market instruments offered by FXGiants provide traders with a diverse range of opportunities to capitalize on price movements across various financial markets, catering to different trading strategies and risk preferences.

Account Types

FXGiants offers a range of account types to cater to different trading preferences and strategies. Here are the details of the six account types:

1. Live Floating Spread Account: This account features variable spreads starting from 1.0 pips, with no commissions charged per trade. Traders can benefit from a maximum leverage of 1000:1, allowing for greater trading flexibility and potential.

2. Live Fixed Spread Account: With this account, traders enjoy fixed spreads starting from 1.3 pips, and there are no commissions per trade. Similar to the Live Floating Spread Account, the maximum leverage is set at 1000:1.

3. Live Zero Fixed Spread Account: This account type offers zero fixed spreads. Instead, traders are charged a commission of $9 per lot traded. The maximum leverage for this account is set at 500:1.

1. STP/ECN No Commission Account: Designed for traders who prefer straight-through processing (STP) and electronic communication network (ECN) execution, this account provides variable spreads starting from 1.7 pips without any commissions. The maximum leverage is set at 200:1.

2. STP/ECN Zero Spread Account: Traders opting for this account enjoy zero spreads, meaning there is no markup on the raw interbank spreads. However, a commission of $3.75 per lot is charged. The maximum leverage for this account type is 200:1.

3. STP/ECN Absolute Zero Account: This account features extremely low spreads starting from 0.2 pips, with no commissions charged per trade. Traders can leverage up to 200:1 in this account type.

These various account types offered by FXGiants allow traders to choose the one that aligns with their trading style, risk tolerance, and specific requirements, ensuring a customized trading experience.

How to open an account？

Here are the steps involved in the account opening process with FXGiants:

1. Registration: Visit the FXGiants website and click on the “Open Account” or “Register” button. Fill in the required personal information such as name, email address, phone number, and country of residence.

   

2. Verification: After submitting your registration details, you will need to complete the verification process. This typically involves providing identification documents such as a valid passport or driver's license and proof of address, such as a utility bill or bank statement. FXGiants may require additional documents based on regulatory requirements.

3. Account Type Selection: Choose the type of trading account that suits your trading preferences and needs. FXGiants typically offers different account types, such as Standard, Premium, or VIP, each with varying features and trading conditions. Select the account type that aligns with your trading goals.

4. Deposit Funds: Once your account is verified, you can proceed to deposit funds into your trading account. FXGiants offers various deposit methods such as credit/debit card, wire transfer, or online payment systems. Choose the preferred method and follow the instructions to deposit the desired amount.

5. Start Trading: After successfully depositing funds, you can log in to your FXGiants trading account using the provided credentials. Download the trading platform (such as MetaTrader 4) or access the web-based platform. You are now ready to start trading by selecting financial instruments and executing trades.

It's worth noting that the specific steps and requirements may vary slightly based on your location and regulatory guidelines. FXGiants typically provides clear instructions and guidance throughout the account opening process to ensure a smooth and hassle-free experience for their clients.

Leverage

When it comes to trading leverage, the maximum leverage offered by FXGiant is super high, reaching up to 1:1000. Generous leverage is not necessarily a good thing,e especially offered by unregulated brokers, so traders should take extra care to use it.

Spreads & Commissions

FXGiants offers varying spreads and commissions across different account types, providing traders with flexibility and choice. Here are the details:

1. Live Floating Spread Account: This account features spreads starting from 1.0 pip with no commissions charged per trade. Traders can benefit from floating spreads while enjoying commission-free trading.

2. Live Fixed Spread Account: With this account, traders can take advantage of fixed spreads starting from 1.3 pips without any commissions. The absence of commissions ensures transparent trading costs.

3. Live Zero Fixed Spread Account: This account type offers traders the benefit of zero fixed spreads, meaning there is no markup on the raw interbank spreads. However, a commission of $9 per lot is charged for each trade.

4. STP/ECN No Commission Account: Traders who opt for this account type enjoy variable spreads starting from 1.7 pips without any commissions. This account offers direct market access with no additional commission charges.

5. STP/ECN Zero Spread Account: With this account, traders benefit from zero spreads, while a commission of $3.75 per lot is charged. This ensures traders have access to raw interbank spreads with low-cost trading.

6. STP/ECN Absolute Zero Account: This account features incredibly low spreads starting from 0.2 pips with no additional commission charges.

FXGiants' diverse account types allow traders to choose the spreads and commissions structure that aligns with their trading style and preferences, providing flexibility and transparency in trading costs.

Trading Platform

FXGiants offers a robust trading platform that caters to the needs of traders. The platform primarily supports MetaTrader 4 (MT4), a widely acclaimed and popular trading platform in the industry. MT4 provides a comprehensive set of tools and features for traders to execute trades, perform technical analysis, and access real-time market data. It offers a user-friendly interface, customizable charts, and a wide range of technical indicators for advanced analysis.

In addition to MT4, FXGiants also provides the PMAM (Percentage Allocation Management Module) platform. This platform allows traders to easily manage multiple forex investment portfolios. With PMAM, traders can allocate and distribute funds among different trading accounts, monitor performance, and efficiently manage their investment strategies.

FXGiants also offers VPS hosting services. By connecting their trading accounts to FXGiants' free MT4 VPS (Virtual Private Server), traders can benefit from enhanced trading performance, reduced latency, and uninterrupted trading even during power outages or Internet disruptions. VPS hosting ensures that traders can fully utilize the potential of their trading strategies without worrying about technical issues.

Overall, FXGiants' trading platforms, including MetaTrader 4 and PMAM, coupled with their VPS hosting service, provide traders with advanced tools, convenience, and reliability to optimize their trading experience.

Deposit& Withdrawal

FXGiants offers convenient options for depositing and withdrawing funds. Clients can choose from various methods, including VISA, Wire Transfer, and BTC. VISA provides a quick and easy way to transfer funds using a credit or debit card. Wire Transfer allows for direct bank-to-bank transactions. Additionally, FXGiants supports BTC, enabling cryptocurrency enthusiasts to deposit and withdraw funds using Bitcoin. While FXGiants' official website does not specify the minimum deposit amount, clients can contact their customer support for more information.

Customer Support

FXGiants provides excellent customer support to assist traders in every possible way. Their dedicated staff is available 24/5, ensuring prompt assistance during trading hours. Clients can reach out to FXGiants' customer support through various channels. Alternatively, clients can reach out via email, allowing them to provide detailed information and receive a timely response. Additionally, FXGiants offers a convenient live chat feature on their website, enabling real-time communication with a support agent for quick resolutions to any issues.

Educational Resources

FXGiants offers educational resources to help traders gain knowledge about the financial markets. While their official website primarily provides a blog for accessing trading market information, it serves as a valuable resource for traders to stay informed about market trends, analysis, and insights. Traders can leverage these resources to enhance their understanding of the markets and make informed trading decisions. While FXGiants' educational offerings may be primarily focused on their blog, the availability of valuable market information can still contribute to traders' learning and development.

Conclusion

In summary, FXGiants is an unregulated broker registered in Bermuda. It offers a wide range of market instruments, including Forex, Metals, Indices, Commodities, Futures, and Shares. The platform provides multiple account types with varying spreads, commissions, and leverage options. FXGiants' trading platforms, including MetaTrader 4 and PMAM, offer advanced tools and features for traders. However, the lack of regulation raises concerns about investor protection. The limited deposit options, absence of a demo account, and unclear minimum deposit requirement are notable drawbacks. The customer support is responsive, and educational resources are available through the company's blog. Traders should carefully consider the risks and limitations associated with FXGiants before engaging with the platform.

FAQs

Q: Is FXGiants a regulated broker？

A: No, FXGiants is not a regulated broker.

Q: What trading instruments are available at FXGiants？

A:FXGiants offers a wide range of trading instruments, including Forex, Metals, Indices, Commodities, Futures, Shares

Q: Does FXGiants offer a demo account？

A: No, FXGiants does offer a demo account.

Q: What payment methods does FXGiants accept？

A: FXGiants accepts three kinds of payment methods, including VISA, Wire Transfer, and BTC

Q: What trading platforms does FXGiants offer？

A:FXGiants offers trading platform MetaTrader 4

Q: What is the minimum deposit required to open an account withFXGiants？

A: The minimum deposit required to open an account withFXGiants is $100 for all account types.

Q: Does FXGiants offer any bonuses or promotions？

A: Yes, FXGiants offers bonuses or promotions and the information is provided on their website.

Q: What is the maximum leverage offered by FXGiants？

A: The maximum leverage offered by FXGiants is 1:1000.