Plus500 Crypto-Trading


Plus500 Crypto Trading - is Plus500 a Reliable Crypto-Broker?

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When it comes to cryptocurrency brokerage platforms, Plus500AU Ltd can be considered one of the most familiar names regarding this matter. It is a Australian based brokerage website that specialises in CFD (contracts for difference) on Forex and cryptocurrency trading. Here, you would find a comprehensive review of this brokerage platform covering its various aspects.

 

76.4% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk of losing your money.


 
Plus500
Plus500 Website

Overview:

  • Available Cryptocurrencies: Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, IOTA
  • Minimum Deposit: $100
  • Maximum Leverage: 1:300 (T&C Apply)
  • Regulated by: FSP in South Africa
  • Demo Account: Yes

Note: Your capital is at risk


 

Introduction

Cryptocurrency has become the new sensation in the world of trading and investment. Trading with such ingenious currencies first initiated almost a decade ago in 2009, when a group of Japanese programmers named Satoshi Nakamoto introduced Bitcoin to the traders across the globe. Since, then a considerable number of other digital currencies and forks of Bitcoin have made their way to this market. Now, the approximate number of such currencies is nearly eighteen hundred with myriads of ICOs (Initial Coin Offerings) yet to be tokenised.

So, it is quite evident that trading various cryptocurrencies has become a very popular practice among traders residing in countries like South Africa, United States, United Kingdom, Lithuania, and many more. Under such circumstances, choosing an appropriate online brokerage platform for your cryptocurrency trading is of the utmost importance. An efficient brokerage platform for such trading can make someone’s investment exponentially lucrative in time. On the other hand, if you’re stuck with the wrong platform that is not compatible with your trading style, the constant volatility of cryptocurrency market might affect your business severely and cause a significant loss.

 When it comes to cryptocurrency brokerage platforms, Plus500 can be considered one of the most familiar names regarding this matter. It is a UK based brokerage website that specialises in CFD (contracts for difference), Forex, and cryptocurrency trading. Here, you would find a comprehensive review of this brokerage platform covering its various aspects.

 

Plus500 at a Glance

The Plus500 CFD cryptocurrency trading platform is offered by Plus500AU Ltd., a subsidiary of this platform introduced in 2008. Initially the key focus was on CFD trading which gradually shifted towards digital currencies in the coming years. The platform is currently headquartered in Israel and is listed on the Main Market of the London Stock Exchange.

 

Available Cryptocurrencies

The available cryptocurrencies on this brokerage platform include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), IOTA (MIOTA) and others. All of these cryptocurrencies are available 24x7 for traders around the world except for Sunday between 13:00-14:00 UTC.

 

AvailableCryptPlus500

Available Cryptocurrencies on Plus500

 

Minimum Deposit and Leverage

The fee structure on this brokerage platform is quite reasonable as Plus500 does not charge any commission for cryptocurrency trading. One of the main features of this trading platform is that Plus500 seeks to acquire considerable benefits from the spread of its available cryptocurrency assets, especially from Bitcoin. The platform also charges an inactivity fee involving a payment up to $10. The maximum leverage is up to 1:300. (T&C Apply)

 

Regulation

Plus500AU Pty Ltd (ACN 153301681) is licensed by: ASIC in Australia (AFSL #417727), FMA in New Zealand (FSP #486026) and for South African traders: Authorised Financial Service Provider in South Africa, FSP #47546.

 

Trading

Trading onPlus500 is reasonably straightforward and uncomplicated. It offers a user-friendly demo account for the novice cryptocurrency traders. You can easily register to this demo account which is available for an unlimited period of time. The registration is absolutely free and the investor is given the leeway to switch between the demo mode and the actual trading mode quite easily. The demo account offers various instruments and tools that can be used to the benefit of the trader before venturing in the actual cryptocurrency trading. These accounts are a great way to acclimatise the neophyte investor with the nuances of cryptocurrency trading.

 

Key Features Offered by Plus500

The key features of this brokerage platform include:

Efficient Software:

Plus500 uses a proprietary software program that is capable of providing the users with a user-friendly as well as intuitive interface. This interface allows the traders to swap between the demo account and the real cryptocurrency account readily offering them the opportunity to rectify their moves while trading a certain digital currency whenever necessary. The software also allows the traders to be familiar with live quotes of financial assets along with recent charts and trends that indicate the positions of these cryptocurrencies in terms of market cap and individual coin price. The software is supported by desktops, and iOS systems.

Impregnable Security:

As mentioned earlier, this cryptocurrency brokerage platform is regulated by several authorities. This regulation accounts for the transparency and security offered by Plus500. The funds of the investors using Plus500 are kept in segregated bank accounts and are protected from certain events such as the insolvency of the brokerage website itself. Plus500 also offers negative balance protection along with a secured socket layer (SSL). They also have the policy of indemnity under the Financial Service Compensation Scheme.

Vast Jurisdiction:

The website is available in a large number of countries of Asia, Africa, Europe, and Oceania. Everywhere it is regulated by different authoritative bodies such as the Financial Service Provider in South Africa. The website also comes with 32 different languages for the convenience of their clients. This vast jurisdiction is one of the main reasons behind the popularity of this website.

Convenient Customer Service:

The customer service of Plus500 is available for 24x7 to their numerous traders residing in various corners of the world. Also, the FAQ section of this website can answer most of the queries of their clients. The support is available in various languages for the convenience of the traders who are not well versed in English.

 

Account Types

There are two types of accounts available on this website. The demo account is for the novice traders and the actual cryptocurrency account for experienced traders. The minimum deposit to get involved in real cryptocurrency trading on this platform is a hundred US Dollars. The website offers the freedom to switch between either of them. The registration process is fairly easy as all it requires is a valid email address and an appropriate password. However, the trader must be from the regulated jurisdiction of Plus500 and in case s/he wants to move straight to real money accounts, a thorough verification is required. The minimum amount required to start trading in a real account is $100. Also, on Plus500, there are certain grades for different accounts such as “Gold” and “Standard”.

 

Demo Account

The demo account comes with several useful tools for the novice traders and makes them conversant with certain aspects of cryptocurrency trading. You can sign up for free in this demo account and once that happens, the account would perpetually available to you. The trading charts and trends available in the demo account can be helpful while you’re involved in real trading and protect you from potential losses.

Account demo

Plus500 Account Demo Mode

 

Trading Platform

The Plus500 website uses a proprietary trading platform that can be used in your favourite webbrowser or easily downloaded for desktops and iOS operating systems. The platform comes with several tools such as the economic calendar, risk management tools, and alerts. It is an ingenious trading platform that can be used for CFD on Forex, Options, and Cryptocurrency trading.

 

Education

There are no education tools available on this brokerage website. However, the tools and instruments available on this website offer various educational resources that can be very effective for gathering experience and familiarise with the pitfalls and benefits of cryptocurrency trading.

 

Support

This brokerage website offers an incessant support for 24 hours a day for 7 days a week. In the constantly available “Contact Us” page of Plus500, you can cite your queries providing your name and email id. Also, the customer service is available in 32 different languages on this website so that the clients can select a certain medium of communication to their convenience.

 

Deposits and Withdrawals Available for Cryptocurrency Assets

As mentioned earlier, the available assets for cryptocurrency trading on Plus500 include six cryptocurrencies namely Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin cash and IOTA. Among all of these currencies, Plus500 gives it utmost focus for Bitcoin trading as it is still the most popular cryptocurrency in the world. For Crypto trading, this brokerage platform offers a maximum leverage of 1:300 (T&C Apply). This means for every US Dollar or British Pound you invest on this brokerage is worth 300 times more. As far as the spread is concerned, Plus500 offers a spread percentage of 0.78% while shorting Bitcoin.

 

Trading Conditions

After the client goes through the meticulous verification process, s/he has to deposit $100 as the minimum amount required for initiating a cryptocurrency trading. However, there is no charge for signing up on the demo account which can be switched with the real one at any time.

 

Final Thoughts

Plus500 is one of the very few trading platforms as well as brokerage websites that are regulated by different regulatory bodies in different countries and cannot be used at all by the traders outside its jurisdiction. Ergo, it can be easily inferred that a trader shouldn’t worry about the security issues on this platform. Also, the platform’s useful demo account, various convenient features, unimpeachable customer service, and several other features can satisfy any client’s requirements.As South Africa is considered one of the leading nations in dealing with cryptocurrencies and Plus500 offers its best assets to the traders of this country, this cryptocurrency brokerage website can be a very lucrative option for the South African citizens.

 

Note: Your capital is at risk

 

Risk Warning: 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.