CFD Trading Service Plus500 Review

One of the larger CFD providers in the Australian market

Australian CFD provider Plus500 review
Plus500 Review Rating: 3.6

Reviewer: Stuart Young
Last Updated: 18th August, 2020

Plus500 Review Summary:

Plus500 Review Australia
3.6 / 5 Reviewer
Pros
- Very easy to use, in-house developed, trading platforms (Plus500 WebTrader & Windows Trader)
- Excellent mobile trading apps
- Large variety of CFD instruments to trade (including Bitcoin, Options, & ASX share CFDs)
- Free real-time live streaming quotes (including for Australian Share CFDs !)
- One of the largest offerings of cryptocurrency CFDs (including Bitcoin; Ethereum; Bitcoin Cash ABC; Ethereum/Bitcoin; Ripple; Litecoin; NEO; IOTA and Monero)
- Negative balance protection
- Offers price alerts.
Cons
- No customer support available via phone. Fast customer support is provided by email (available 24/7) and replies are normally answered within a couple of hours no matter what time of day, or via live online chat
- No MetaTrader MT4 trading platform option
- Plus500 fees include a $10 inactivity fee after 3 consecutive months of non-use
- Does not allow hedging.
Summary

Plus500AU Pty Ltd, is an Australian based CFD Trading Service with its main offices located in Sydney, Australia. They are authorised to offer Contracts For Difference (CFD) under AFSL Number 417727.
The parent company Plus500 Ltd is listed on the Main Market of the London Stock Exchange.

After reviewing Plus500 CFD provider, we feel they will suit traders who want a very easy to use trading platform combined with a wide range of CFD instruments to trade (including CFDs on currency pairs, Bitcoin and options), however don't need to rely on phone support. This is their key segment in the market I believe.


Please be aware that Plus500 do not provide customer support via phone. This is something many other Plus500 reviews and CFD broker comparison web sites may not list. I have personally confirmed this in writing from Plus500 where they have confirmed
"unfortunately, we do not offer phone support. While phone support may be seen as an available and fast mean of communication, our experience has taught us that communication via e-mail is more reliable and professional as it allows us to thoroughly examine each issue and consult with colleagues / superiors when needed."
As detailed above they do provide email support which generally seems to be replied to within a couple of hours on average (based on "test" messages emailed to confirm the response time) and a live online chat feature which is the quickest option.
This is critical for all traders considering a Plus500 trading account as if telephone support is important to you then Plus500 won't be a suitable option and instead I suggest reviewing our compare CFD providers page instead.

Plus500 Australia (Plus500AU Pty Ltd) is only licensed to provide a CFD trading service, so any Forex instruments available will be Forex CFDs, not ECN based. This is not an issue, however I wanted to make everyone aware of this and if you are an FX Trader, wanting tight ECN spreads, Plus 500 do not offer this service and instead, please view our Pepperstone FX review for this offering.

Plus500 withdrawal time is normally 3-7 business days however this is dependent on the withdrawal method you use.

Plus500 review also found the trading platform, Plus500 Windows Trader or Plus500 WebTrader (no download required), is powerful, yet very easy to use and offers price alerts which is a feature traders often look for. The Plus500 app for mobile devices is excellent and also very easy to use. You can even create and receive price alerts from within the trading app on your mobile phone or device (iphone ipad etc).

Free real-time live streaming quotes (including for Australian Share CFDs) are also provided to all trading accounts.

Pricing2.7
Range Of Instruments4.8
Speed of Execution3
Trading Platform Features3.5
Ease Of Use4.5
Customer Support3

* Risk Warning: When opening a live account your capital is at risk


Review Detail: Plus500 CFD Provider

Our Plus500 broker review finds Plus500 (sometimes mistakenly called 500 Plus) is an online CFD provider platform, established in 2008, which has rapidly grown into one of the larger CFD providers in the Australian market.
The Plus500 trading platform, Plus500 Windows Trader or Plus500 WebTrader (no download required), is a powerful, easy to use, CFD trading platform. You can place trades on the world’s most popular financial instruments from a single platform, including CFDs on:

  • Shares (including ASX share CFDs)
  • FX / Forex (great selection of currency pairs)
  • Indices (including ASX 200 index & major world indices)
  • Cryptocurrencies (including Bitcoin; Ethereum; Ripple; Litecoin; Bitcoin Cash; NEO; Cardano; EOS; Tron; IOTA; Stellar and Monero);
  • Commodities;
  • Options and
  • Exchange-traded fund (ETFs).

Key Benefits

Our Plus500 review highlights the following:

  • Plus500 is the one of the most easy to use, intuitive CFD trading platforms on the market, yet still includes advanced features
  • Large variety of CFD instruments to trade (including Indices, Forex, Commodities, Bitcoin and Alt Cryptocurriencies, Options, EFTs & ASX share CFDs)
    Click to view Plus500’s Instrument comparison table below this review.
  • Very easy to use mobile trading app, voted Australia’s #1 mobile CFDs platform^
  • Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorised to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorised Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on Plus500’s official websites.
  • Free real-time live streaming quotes (including for Australian Share CFDs !)
  • Offers price alerts by simply clicking the bell icon on the instrument screen
  • Has guaranteed stop losses, training stops & limit orders available
  • No commissions – Offers both fixed & dynamic spreads
  • Offers a variety of Cryptocurrency CFDs, including Bitcoin; Bitcoin Cash ABC; Ethereum; Bitcoin Gold; Ripple; NEO; Litecoin and Monero
  • Excellent mobile online trading software which supports a full range of mobiles and tablets to cater for the busy trader. In fact, the Plus500 app is one of the highest rated CFD trading apps on both Google Play and Apple’s App Store
  • Fund by PayPal, Skrill, credit card or wire transfer (bank transfer). A minimum deposit of AU$200 is required to open a live online trading account.

* Risk Warning: When opening a live account your capital is at risk

Plus500 AU Client Money Protection

When you open a trading account with Plus500AU Pty Ltd they:

  • hold your money in a segregated trust account which is administered in accordance with the provisions of the Australian Corporations Act
  • do not use client funds for hedging purposes, as some other CFD providers do
  • do not use client money for any investment or business purposes
  • do not initiate speculative positions in the markets

LIVE Plus500 Rates

   

* Risk Warning: When opening a live account your capital is at risk

Plus500 Instrument Comparison Table

* Risk Warning: When opening a live account your capital is at risk

Plus500 Australia, Plus500AU Pty Ltd (ACN 153 301 681) holds an Australian financial services licence (AFSL) No. 417727 issued by the Australian Securities & Investments Commission (ASIC) is only authorised to issue contract for difference (CFD) products (and not Binary Options) to Australian residents. You do not own or have any rights to the underlying assets. Please consider Plus500’s Disclosure documents available on their website.

^By Plus500 client ratings. Investment Trends 2017 Australia CFD Report, based on a survey of over 12,000 traders and investors.

If you feel that Plus500 CFD provider may not have all the features you’re looking for, please view our additional cfd broker comparison and reviews.

RISK NOTICE:
Contracts for Difference (CFDs) are a complex, leveraged financial product and requires a certain level of experience, so may not be suitable for everyone. Trading CFDs carries a high level of risk to your capital. Losses can exceed your initial deposit. Therefore, you must ensure you understand all the risks involved before opening a plus500 trade or account. If you are considering acquiring any of the financial products listed on this Plus500 review web page, you should always read the Product Disclosure Statement (PDS) and other offer document/s before making any investment decisions.
If you are unsure of the risks, or have any doubt whether you have sufficient financial resources or experience to trade these products, you should take professional advice before trading online with Plus500 CFD provider.
Last Updated: 18th August, 2020
Your capital is at risk. Forex & CFD trading can result in losses that exceed your initial deposit. Please ensure you fully understand the risks involved.
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