Anyone know if IG or Plus500 are scams or not?
Conclusion. Plus500 is not a scam and is a legitimate company, established in 2008. They are regulated by top-tier authorities around the world including: ASIC, FCS, MAS, CySEC, FSCA among others. Plus500 is great for intermediate to experienced traders, looking for a robust, trustworthy and legit CFD broker.
Should I use Plus500?
Plus500 is a trusted online broker, regulated by top-tier authorities. Plus500 is known for their great trading platform and one of the best mobile apps. We found that it is great for CFD traders, customer support, easy to use platform and account opening process.
How safe is 500plus?
Plus500 is considered low-risk, with an overall trust score of 99 out of 99. Plus500 is publicly traded and does not operate a bank. Plus500 is authorised by four tier-1 regulators (high trust), four tier-2 regulators (average trust), and zero tier-3 regulators (low trust).
Why can’t I close my position on Plus500?
It is only possible to close a position (trade) during the relevant instrument’s trading hours. In addition, occasionally instruments are temporarily unavailable for trading when market events restrict price feeds, for example but not limited to: extreme volatility, illiquidity, underlying market suspensions, etc.
Can you day trade on Plus500?
Plus500 is a well-known online broker for day trading that is regulated by top-tier authorities. Plus500 is recognized for its excellent trading platform as well as one of the most user-friendly mobile apps. Although it lacks the advanced features provided by most other platforms, it has some distinct advantages.
Can you delete Plus500 account?
Here is how you close your Plus500 account
Select “General” in the “Type of Query Field”. Write in “Delete Account” in the Subject field. Write the reason you want to terminate your account. Click “Send” to complete the account deletion process.
Where is Plus500 based?
Israel
Plus500 Ltd is an Israel-based company that develops and operates an online trading platform for individual customers to trade contracts for difference (CFDs).
Which is better eToro or Plus500?
eToro’s fees are slightly better, as stock and ETF trading is free. In regard to CFDs, only a spread cost is charged. Spreads are around the same as at Plus500. eToro provides access to more products than Plus500; apart from stocks and ETFs, clients can trade cryptos as well.
How long is Plus500 Withdrawal?
within 1-3 business days
All withdrawal requests are processed by Plus500 within 1-3 business days, and during this time, the withdrawal request will go through a number of stages.
How do I get my money back from Plus500?
You should certainly withdraw money from the Plus500 account before closing it. In order to close, go to the option ‘Funds Management’ and then click the ‘Withdrawal’ option’. Press the preferred Withdrawal method of yours and then fill up the other necessary options there before pressing the ‘Submit’ option.
Does Plus500 have withdrawal fees?
Plus500 fees Plus500 non-trading fees
| Plus500 | ActivTrades | |
|---|---|---|
| Withdrawal fee | $0 | $0 |
| Deposit fee | $0 | $0 |
| Inactivity fee | Yes | Yes |
| Account fee | No | No |
What are Plus500 fees?
Pluss500 offers zero commission trading as it’s only compensated through the bid-ask spread. However, additional fees can be charged like the $10 inactivity fee, 0.5% currency conversion fee, overnight funding, and guaranteed stop order fee.
How much does IG charge per trade?
Commissions
| Number of trades (in previous month) | Commission per trade* (incl GST) |
|---|---|
| 3+ trades | $5 / 0.05% |
| 0-2 trades | $8 / 0.1% |
What is the minimum deposit for Plus500?
$100 USD
Plus500 Minimum Deposit Overview
The Plus500 minimum deposit is $100 USD / R1600 ZAR. However, when it comes to making a deposit via Bank Transfer, the minimum deposit will be $500 USD / R7700 ZAR. Deposit and Withdrawal fees are not charged by Plus500.
Is Plus500 legal in Australia?
Plus500AU Pty Ltd is licenced by the Australian Securities and Investment Commission (ASIC). ACN 153 301 681 (AFSL-Number 417727). This AFSL authorises us to provide our services to people in Australia.
How does Plus500 make money?
Plus500 is mainly compensated for its services through the “market spread”. For example, when trading EUR/USD, if the buy rate is 1.12078 then the sell rate would be 1.12072 respectively (which means a market spread of 0.6 pips, in this example).