Prediction markets are popping up everywhere right now, so it’s a great time to be searching for new sites. As part of this Plus500 review, I’ve been testing the features and markets to see if it’s worth your time.
If you’re totally new to trading contracts, I’ll run through a detailed explanation of how it all works at Plus500. I’ll then get into the nitty-gritty by offering up an overview and my honest opinion on all the other features. From welcome offers to mobile compatibility, customer support, deposits, and withdrawals, I’ve got your back.
| Support Types | E-Mail, Live Chat, Hotline |
|---|---|
| Deposit time | instant |
Plus500 allows you to trade predictions on real-world outcomes from sports to elections and everything in between. Essentially, each market is framed with a question, and you predict the outcome by buying a Yes or No contract. If you get it right, your contract will settle at $1. On the other hand, if your prediction is wrong, then your contract becomes worthless and settles at $0.
Just like the markets I found during my Webull review, you can choose from a varied mixture of topics. To give you an idea, you can find contracts for sports, science & technology, politics, financials, crypto, commodities, and so much more. This list isn’t fully exhaustive, which gives you a hint at the variety that’s available here. If you want to try out live markets, those are widely available too. Here, you can predict live events, which are mostly sports.
Each contract is priced between $0.01 and $0.99, depending on the trading volume and traders’ opinions. The price reflects the implied probability, so if a contract is priced at $0.30, this indicates the market believes there is a 30% chance of that outcome happening. Therefore, the more popular outcomes (contracts) are priced higher.
As a new user, you will qualify for a Plus500 bonus. Your bonus will adjust in size, according to how much you deposit. Just keep in mind that only your first deposit counts, so once it’s been made, you can’t come back to claim additional rewards through this promo. You can then use your bonus credit to buy event contracts on all available markets, with no restrictions. Any bonus balance that hasn’t been used after 90 days will be removed, so make sure you consider the timeframe when claiming the offer.
| First Deposit | Trading Bonus |
|---|---|
| $500 | $20 |
| $1,000 | $50 |
| $5,000 | $100 |
| $10,000 | $200 |
I’ve seen many Plus500 reviews stating that this bonus is only available for trading futures on the platform. That said, I contacted their customer support team directly, and they confirmed to me that this bonus applies to predictions trading as well, which is nice.
Plus500’s layout is similar to most other prediction market sites, so if you checked out my ADI PredictStreet review, you’ll see a few similarities here. The main menu that you will use for prediction markets here is in the sidebar, where you will find the full list of available topics. From sports to climate, absolutely everything is broken down here into categories and sub-categories. There’s even a search bar sitting at the top of the sidebar, which is ideal if you know what event you’re after.
All the individual markets are presented in a grid format, so you can browse the full selection with ease. The grid format allows you to get an overview of the contract prices and chances, without loading the full page. So, if you’re not entirely sure what you want to trade on and want to shop around, this is ideal and makes your session so much easier.
Now, if you prefer to trade on the go or simply want to use your mobile device, you will be pleased to hear that there are iOS and Android apps available. You can either install the apps by clicking the icons at the bottom of the website or load your respective app store. After testing the iOS app, I saw that it’s comparable to the desktop version. Naturally, there are a few minor changes, such as the layout, but overall the experience is the same.
As I did for my recent Gemini Predictions review, I dived in and revealed everything I could find about the payment methods at Plus500. As of right now, Plus500 accepts a great range of secure payment methods, including Visa, Mastercard, and bank transfers. It’s worth noting that you can’t use credit cards, so you must own a Visa or Mastercard debit card if you prefer to use that option. While it might feel a little frustrating, many sites are starting to remove credit cards from their supported methods, so while it’s new, it’s starting to be a lot more common.
Your deposits are processed instantly, offering you rapid payments so you can start trading without any delay. When it comes to withdrawals, the processing speed varies according to your bank’s processing. On average, you can expect your withdrawals to land within 3 to 5 working days, or so. Just keep in mind that there’s a 1.75% processing fee, based on the requested payout amount. There’s also a minimum withdrawal limit of $1 and a maximum limit of $150, across all payment methods.
As part of my Plus500 prediction markets review, I tried and tested each of the support channels to get an idea of the quality of the support. While having access to several channels is ideal, if the quality of the responses isn’t great, it puts a downer on the entire experience. After all, if you run into a problem or have a question to ask, you don’t want to be left waiting to only get an unhelpful answer.
Thankfully, the support here is excellent. The live chat is the main event, so I recommend hopping on here for most queries. I joined in the mid-afternoon and the wait time initially said 1-3 minutes, but I was connected in less than 10 seconds, so I can’t complain. After entering my name and email, I was given a box to enter my first question, which was then promptly replied to. Unlike other prediction market sites, the response wasn’t copy-and-pasted, which felt much more personal.
Alternatively, you can send the team an email or visit the FAQ section, which is great for learning what prediction markets are, how contracts are priced, and so on. So, if you’re a total beginner, the FAQs are ideal.
After an in-depth look into the legitimacy of the operator and the general security, I’m happy to recommend Plus500 as a reliable prediction market site. First of all, Plus500 is a member of the CME Group and National Futures Association. In addition to that, Plus500 is a multi-award-winning site that has even been listed in the FTSE 20 and on the London Stock Exchange’s Main Market. As you can see, Plus500 is gaining a lot of attention on the scene.
When it comes to your online safety, you are protected with SSL encryption software. This works by scrambling your sensitive data, including personal details and banking information, as it’s being entered. By doing this, it reduces the chances of your details being hacked, so you can trade with peace of mind. Like what I found during my Meta Arena review, your details are under lock and key from the get-go.
Well, there you have it. Plus500 is a leading prediction market site that I highly rate. You can browse some of the most varied categories around, covering everything from sports to politics, commodities, weather, technology, and more. If you can think of it, the chances are, Plus500 has it. Honestly, this is one of the most in-depth prediction market sites that I have visited in a while, so I think it’s so worth your time.
You can even pick up a dedicated trading bonus to get yourself up and running. Your bonus is linked to your initial deposit, so depending on how much you choose to deposit, you will receive up to $200 as a trading bonus. You can then use this bonus as you please, as you test the waters. If you are happy to give Plus500 a shot, all that’s left is for you to tap the promotional banners on this page.
Quite simply, if you correctly predict the outcome by buying the contract of the outcome that happens, you will receive a payout of $1. If you forecasted the outcome incorrectly, you won’t receive anything.
Yes, of course. There’s a fantastic live section, offering a range of live events. Based on my findings, this section appears to offer sports-based contracts, but there’s every chance this could change. Of course, it depends on the current events, so keep checking back to see what’s coming up next.
No, not at all. Unlike some prediction market sites, you don’t need to install the app to start trading. You can access all the features on the site and app, giving you the freedom of choice to access Plus500 as you wish.
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