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Cryptolinks: Explore 4000+ Best Crypto and Bitcoin Sites for 2024!

by Nate Urbas

Crypto Trader, Bitcoin Miner, Holder. 🚀🌑

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(2 reviews)
(2 reviews)
Site Rank: 4

Plus500 is a contracts for difference (CFD) broker which enables traders to speculate in the price of stocks, indices, forex, and cryptocurrencies. CFDs enable traders to speculate on an asset without actually owning the underlying asset. CFDs allow traders to apply large amounts of leverage and also to take short positions. This is a benefit as most cryptocurrency trading services do not enable traders to take short positions. Plus500 had over 317,000 active customers in 2017. They are regulated by the Security Market Commision of Cyprus. The leverage capabilities are enormous with 1:30 leverage offered for non-professional customers and 1:300 offered for professional customers.

Plus500 offers ten cryptocurrency products which are a fewer amount than most competitors. The products include most of the large-cap and popular cryptocurrencies traded against their USD price. In terms of fees, Plus500 charge no trading fee but state they are compensated in the spread. The spread will vary per product. Additional fees include overnight position rates, guaranteed stop losses, and inactivity charges. The nightly fee depends on the specific instrument. To have a guaranteed stop loss also needs to be negotiated with Plus500 in terms of the price they can guarantee and the fee it will cost. If an account is inactive for three months, it will be charged $10.

Pros & Cons
  • Enables traders to go both short and long
  • Enables traders to apply enormous amounts of leverage
  • No trading fee with Plus500 being compensated from the spread
  • Additional fees for overnight positions, guaranteed stop losses and account inactivity
  • Fewer cryptocurrency products than competitors