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Crypto Trading Plus500 Review UK 2021

Welcome to our Plus500 review, the perfect place to find out more about the esteemed broker. Will Plus500 prove themselves trustworthy, or should you avoid them like the plague?

Plus500 first started operation in 2008. They are a provider of Contracts for Difference (CFDs) with specialisms including ETFs, options, shares and Forex. The business became publicly limited in 2013, floating on the London Stock Exchange. Since then, the business has gone from strength-to-strength, signing sponsorship deals three football clubs. They aim to educate as well as offer trading services. As such, you’ll find an extensive library of trading videos online.

plus500 crypto trading
Pros & Cons of Plus500
  • Transparent charges
  • Regulated in several countries
  • 1:2 leverage on Plus500 crypto UK trading
  • SSL encryption for transactions
  • Only a handful of payment methods

Show Me the (Demo) Money - A Plus500 Review for UK Traders

Next up on our Plus500 crypto review is site security and useability. Security measures begin from the moment you register to use Plus500. You’ll be required to fill in an application form, complete with identification documents to get started. This is essential for the broker to meet financial service standards. Once your ID has been verified you’ll be able to make trades.

88/100
Rating
Plus500 Highlights
  • Secure, trusted, and fully-licensed
  • Transparent charges throughout the site
  • Plenty of training resources available
Go to Plus500

The website itself is simple and easy to navigate. To the top of the screen are dropdown menus, which allow you to check out the instrument categories, find detailed information on the fees charged by the broker and also access a wide range of tools. These include an economic calendar to plan your trades and a Trader’s guide with video tutorials on vital aspects of trading.

Newcomers also benefit from Plus500’s Demo Mode. This allows you to get to grips with the Plus500 interface and see how it interacts with your mobile or desktop. We downloaded the mobile app on Android and tested out Demo Mode. For us, the loading time was swift and we were able to make trades using just two clicks. This example may not be representative of your experience, so it’s a good idea to try Demo Mode risk-free before trading with funds. If you’re looking for more providers who offer a demo service, be sure to take a look at our BDSwiss review and XTB review.

How To Trade – Plus500 Crypto Trading at a Glance

To make a Plus500 crypto trade you’ll first need to register with the broker. This is easily done by clicking the blue ‘Start Trading Now’ button on the homepage. You’ll then need to create an account using an email and password. Unlike simple betting accounts, you’ll have to give an account of your experience and skills as a trader. You’ll also be asked a series of multiple-choice questions about trading to check your understanding of the topic.

You must complete the registration form accurately and honestly. Overexaggerating your expertise could get you into financial difficulty if you trade on unfamiliar markets. To validate your application you will need to provide identification documents proving your name and address. Once your application is completed, it will be assessed. If accepted, you’ll be able to trade straight away.

There is no direct buying and selling of cryptocurrencies with Plus500. Instead, you’ll be betting on the movement of the markets. No separate cryptocurrency wallet is required. This is a simpler way of betting on cryptocurrency, but do bear in mind that there are additional risks on wagering on the rise and fall of markets. Always research thoroughly. Plus500 has a section dedicated to trading news and insights. This is a good place to start your research journey.

To trade Plus500 crypto, you’ll need to visit the ‘Crypto’ page. This can be found under the ‘Instrument Categories’ dropdown menu. Then it’s just a matter of selecting ‘buy’ or ‘sell’ from the currencies on the page. You’ll then fill in a quantity amount and purchase or sell your currency.

Company
CompanyPlus500 Ltd
HeadquarterArch. Makarios III Avenue ,Cedars Oasis Tower, Floor 1 ,3027 Limassol ,Cyprus
Year of Founding2008
CEODavid Zruia
Web Sitewww.plus500.com
Available LanguagesGerman, French, English, Italian, Spanish, Russian, Polish, Dutch, Swedish, Portugese, Norwegian
Customer SupportLive Chat, Email Support
Email[email protected]
Phone+972-4-824-1220
Licence
Verified by-
Payment Methods
PayPal
Klarna
Credit Card
Bank Transfer
Skrill
Giropay
+
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Payments - Swift and Fee-Free Deposits

Instant deposits can be made via credit or debit card, e-wallet payments and by bank transfer from single and joint accounts. You can’t use business bank accounts to make a deposit or withdrawal, which is in line with industry standards.

PayPal
Klarna
Credit Card
Bank Transfer
Skrill
+ 2

Deposits using bank transfer will take between 3-5 working days to process. There are no fees charged by Plus500 for using any of the above deposit methods.

There are several deposit limitations on an individuals’ account. Which limitations are present will depend on a person’s country of residence and their credit status. Limits are more common for margin betting.

Withdrawals usually take between 1-3 business days to process, which is quicker than some alternative crypto brokers. No fees are charged for deposits or withdrawals by Plus500, however, your payment provider may charge you a fee for international bank transfer transactions.

Customer Service - Customer Support is King

The customer service at Plus500 is one of their strong points. The website features a comprehensive FAQ and help section, which covers most things, including deposits and withdrawals and fees you may be charged to use Plus500’s services. The information provided on the FAQ page should be enough to help you register with the Plus500 website and complete the account verification process without error. However, should you need additional help we recommend contacting the Plus500 customer service team. They are available 24/7 via email and live chat.

Although we did not need to contact customer service during our trading time, for this Plus500 review, our UK writer checked customer feedback to see how they got on with the service provided by the customer support team. We consistently found reviews stating that email support was provided within 1-2 hours of contact. As for the live chat, waiting times were brief, with customer support offered in around 10 minutes.

License & Security - Nothing Negative about Balance Protection

Can we trust Plus500? This is the question we ask next in our Plus500 crypto review. The business holds licences in every area it operates in. That includes Australia, where the business is regulated by three different companies. Here in the UK, they have the holy grail of financial regulation – an FCA approval. This ensures that Plus500 adheres to strict security and financial operating standards and also brings comfort to those who use their services. Financial transactions are protected using SSL and when it comes to mobile security they are ahead of the pack thanks to their two-step mobile security verification.

Finally, there’s Plus500’s Negative Trader Balance Protection. This operates in Europe and protects European trader customers in the event of a negative balance. It is worth noting that this currently extends to members of the EU only. If you are reading this Plus500 review in the UK, it’s important to check first to see if there are any equivalent protections.

Reputation and Customer Feedback – A Sterling Reputation

Plus500 has built a reputation on the longevity of their business trading and their authority as a well-respected member of the financial broker industry. Respect like this is not earned overnight. Instead, it is something that the business has worked at, gaining regulation in several countries from leading financial authorities such as the FCA and ASIC. Customer feedback suggests that they are a broker we can trust. Good customer service times, speedy payments and a transparent fee-structure have all been cited by traders using their services. We’re bowled over at their success.

Plus500 Crypto

Cryptocurrencies - Plus500 Review 2021

Cryptocurrencies are at the heart of our Plus500 review. The cryptocurrency market is volatile, making it a popular choice for traders in search of excitement and the potential for quick trades. The broker allows users to speculate on Plus500 crypto UK and international markets with up to 1:2 leverage. These include Bitcoin, Ethereum/Bitcoin, Ethereum, Crypto 10 Index, Litecoin, NEO, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Tron and Monero. Due to the risks associated with cryptocurrency trading, the Financial Conduct Authority (FCA) has banned retail trading in the UK. This means that cryptocurrency trading is only available to institutional traders with relevant experience. The guidelines for this are explained on the Plus500 guidance pages.

88/100
Rating
Plus500 Highlights
  • Secure, trusted, and fully-licensed
  • Transparent charges throughout the site
  • Plenty of training resources available
Go to Plus500

The crypto products available via Plus500 are Contract For Difference (CFD) products. CFDs are essentially contracts between a buyer and a seller, where the buyer agrees to pay the difference between the value of an asset compared to its value when the contract was struck. As an example, let’s say you purchase Litecoin at 132.00 and make a loss, selling at 131.00. As you’ve entered a contract with Plus500 at 132.00, you’re then required to pay the one-point difference to Plus500.

Fees - No Extra Costs to trade Plus500 Crypto

Plus500 doesn’t charge commission on any of their transactions. Instead, they make revenue by charging fees for certain transactions. The majority of the fees are charged on spreads. These costs are competitive, with some spreads as small as 0.6 pips. Smaller costs tend to be on very liquid assets. Fees tend to be higher for less-liquid assets. By sticking to this rule of thumb, clients can create a portfolio which balances fees to an acceptable level.

Overnight fees are charged on leveraged overnight positions. The amount charged varies depending on the asset. For further information, please check the ‘details’ tab next to your desired asset.

Inactivity charges are also levied on any account where a trader hasn’t logged in for three months. This charge is £10 per month. It’s simple to avoid – just log in once a month and the fee is waived.

Jurisdictions and Limits - Can I trade Plus500 Crypto in the UK?

If you want to trade crypto on Plus500 you’ll need to be sure the site is trustworthy. A quick check of the broker’s FAQ page told us all we needed to know. We discovered that all payments are protected using SSL encryption, ensuring that your funds and personal information stays safe. Client money is segregated and held in an account separate to Plus500’s funds, so should the worst happen any funds can be returned to clients without fuss.

88/100
Rating
Plus500 Highlights
  • Secure, trusted, and fully-licensed
  • Transparent charges throughout the site
  • Plenty of training resources available
Go to Plus500

The business is also regulated by 3 tier-1 regulators and 4 tier-2 regulators. These are CySEC in Cyprus, the FSCA, FMA and ASIC in Australia, MAS in Singapore, FSA in Seychelles and the FCA in the UK. These regulators ensure that Plus500 operates fairly and adheres to the laws of their governing countries. The business is also publicly traded and has operated since 2008, giving the business an exceptional rating when it comes to reliability.

Other Trading - Trades Galore at Plus500!

Yes, this may be a Plus500 crypto trading review, but that doesn’t mean we’ve forgotten about all the other features Plus500 has to offer. There’s plenty to trade, with 2000 instruments to choose from, including ETFs, shares and options. This number is on-par with our FXOpen review and Etoro review, although less than CMC Markets who top the tree with 10,000 instruments. The prize jewel in Plus500’s collection is their Forex trading which offers over 70 different pairings on minor and major currencies. All Forex trading with Plus500 is available through CFDs.

Then there is index trading. Indices can be traded at a leverage of up to 1:20, meaning you can trade from as little as £100 on popular CFDs such as the cannabis stock index and the Germany 30. Just £100 gives the effect of £2000 capital. Quotes are streamed in real-time for Indices with price alerts and live quotes totally free-of-charge.

Gaga for gold? Potty over platinum? Then try out commodities. Like indices, these are also leveraged at up to 1:20. You can add Stops and Limits to ensure you stay in control at all times, minimising the risk involved. Authorising a Guaranteed Stop eliminates slippage.

88/100
Rating
Plus500 Highlights
  • Secure, trusted, and fully-licensed
  • Transparent charges throughout the site
  • Plenty of training resources available
Go to Plus500

Plus500 Review 2021 - A Summary

A site visitor will be spoiled for choice with over 2,000 instruments to trade, including commodities, Forex and of course, Plus500 cryptocurrency. You can access these using their web-based trading platform or via a mobile app – ideal for a busy trader on the go. We also like that Plus500 focuses on CFD trading, which suits those with smaller budgets and the risk-averse. By choosing CFD trading specifically, Plus500 has opened up their brokerage to a wide selection of traders while increasing their personal revenue.

When it comes to trustworthiness, few have proven themselves as much as Plus500. The broker follows regulations from seven industry bodies around the globe, including the highly respected Financial Conduct Authority. This is a broker that is proud to implement the latest tech and industry advice to ensure that their trading is clean, transparent and fulfilling.

88/100
Rating
Plus500 Crypto
*****
Go to Plus500 Crypto
Highlights
  • Secure, trusted, and fully-licensed
  • Transparent charges throughout the site
  • Plenty of training resources available

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