Plus500 Review

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Contents

Plus500 Review 2020

Summary

Recommended for experienced traders looking for an easy-to-use platform and a great user experience

Plus500 is a London Stock Exchange-listed global CFD and FX broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Plus500 is considered safe because it is listed on a stock exchange, discloses its financials and is regulated by several top-tier financial authorities.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Disclaimer for daytraders: At Plus500, scalping is defined as “A trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.” If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.

Plus500 pros and cons

Plus500 has a simple, easy-to-use trading platform, with an especially well-designed mobile platform. The account opening process is fully digital and seamless. Trading fees are low.

On the negative side, Plus500 has limited product portfolio, consisting only of CFDs and forex products. Some standard research tools, like recommendations and fundamental data are not available. The educational section still needs improvement.

Pros Cons
• Easy-to-use platform • Limited product portfolio, only CFDs & forex
• Low trading fees • Minimal research tools
• Listed on the London Stock Exchange • Mid-range educational section
Plus500 main features and highlights
��️ Country of regulation UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $100
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 10
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Plus500 review
Fees

Plus500 has low trading fees and average non-trading fees. Even if they have an inactivity fee, it is applied only if you are not logging in at all.

Pros Cons
• Low trading fees • Inactivity fee
• No withdrawal fee
Plus500 fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.45 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 1 is the average spread cost.
EURUSD Average The fees are built into spread, 0.6 pips is the average spread cost.
Inactivity fee Low $10 per quarter after 3 months of inactivity

How we ranked fees

We ranked Plus500’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Plus500 for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared Plus500’s fees with those of two similar brokers we selected, eToro and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Plus500 alternatives.

To have a clear overview of Plus500, let’s start with the trading fees.

Plus500 trading fees

Plus500 trading fees are low.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for Plus500 fees.

CFD fees

Plus500 has generally low CFD trading fees.

There is no commission: everything is included in the spread, i.e. the difference between the ask and bid prices.

Plus500 CFD fees for a $2,000 long position held for one week

Plus500 eToro XTB
S&P 500 CFD benchmark fee $2.1 $2.4 $2.0
Europe 50 CFD benchmark fee $1.3 $2.7 $2.2
Apple CFD benchmark fee $8.9 $6.3 $17.9
Vodafone CFD benchmark fee $7.6 $20.9

Forex fees

Plus500 forex fees are average. Again, no commission, everything is included the spreads.

Plus500 forex benchmark fees of a $20,000 30:1 long position held for one week

Plus500 eToro XTB
EURUSD benchmark fee $17.9 $19.6 $15.0
GBPUSD benchmark fee $14.0 $16.2 $11.1
AUDUSD benchmark fee $12.6 $12.4 $10.0
EURCHF benchmark fee $9.0 $11.8 $6.6
EURGBP benchmark fee $14.6 $19.9 $9.9

Non-trading fees

Plus500 has average non-trading fees.

Plus500’s withdrawal fee conditions are favorable: there are five free withdrawals per month, after which the withdrawal fee is $10. However, Plus500 will also charge you $10 if you withdraw less than the minimum withdrawal amount of $100. The cost for withdrawals by bank transfer is a fixed $6. There is also a high inactivity fee of $10 per quarter after 3 months of inactivity. At the same time we have to share, you can save the inactivity fee with a simple login to the platform. In the case of other brokers, we’ve tested skipping inactivity fee regularly tied to trading not only login.

Plus500 non-trading fees

Plus500 eToro XTB
Account fee No No No
Inactivity fee Yes Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $25 $0

Plus500 review
Account opening

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.

Pros Cons
• Fast None
• Fully digital
• Low minimum deposit

Can you open an account?

Visit broker
76.4% of retail CFD accounts lose money

Plus500 accepts customers from many countries all around the world. However, there are some notable exceptions: for example, residents of the US and Canada can’t open an account, while other countries such as Cuba, Iran and Syria are also excluded.

What is the minimum deposit at Plus500?

The Plus500 minimum deposit is $100 for debit/credit cards and electronic wallets, and $500 for bank transfers.

Account types

Plus500 has only one account type.

How to open your account

If you want a fast and digital account opening process, Plus500 is your broker. You can easily open your trading account within a day.

After the online registration, you have to verify your identity and provide proof of residency. You can upload a copy of your ID or passport for verifying your identity, and a bank statement or utility bill for verifying your residency.

Plus500 review
Deposit and withdrawal

Plus500’s deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.

Pros Cons
• Credit/Debit card available None
• No deposit fee
• Five withdrawals per month free

Account base currencies

At Plus500, there are several currencies available, even minor ones, but it is not transparent how many and which ones. You need to contact support if you wish to change your base currency. However, make sure you do this before depositing money to your account.

Base currencies at Plus500 vs similar brokers

Plus500 eToro XTB
Number of base currencies 10 1 4

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Plus500 charges no deposit fees.

As with other CFD brokers, there are a lot of depositing options at Plus500:

  • Bank transfer
  • Credit/Debit card
  • Skrill
  • PayPal
Plus500 deposit options
Plus500 eToro XTB
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

A bank transfer can take several business days, while payment with a credit/debit card and electronic wallets is instant.

You can only deposit money from accounts that are in your name.

Plus500 withdrawal fees and options

Plus500 withdrawal is free of charge for the first five withdrawals each month. After that, there is a $10 fee per withdrawal. This is a competitive offer, since many other brokers charge withdrawal fees.

There is also a minimum withdrawal amount, which is $50 for PayPal and $100 for bank transfer and credit/debit cards. If you want to withdraw less than this, a $10 charge will be applied.

For withdrawals, you can use the same methods as for deposits.

Plus500 withdrawal fees and options

Plus500 eToro XTB
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes No
Electronic wallets Yes Yes No
Withdrawal fee $0 $25 $0

How long does it take to withdraw money from Plus500? We tested the credit card/bank transfer withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from Plus500?

  1. Log in to your account.
  2. Click the ‘Menu’ icon in the top left corner.
  3. Click ‘Withdraw’.
  4. Enter the amount you’d like to withdraw.
  5. Initiate the transaction by clicking ‘Open a Withdrawal’.

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Plus500 review
Web trading platform

The Plus500 trading platform is very easy to use and also looks great. On the negative side, it cannot be customized.

Pros Cons
• User-friendly • Limited customizability (for charts, workspace)
• Clear fee report
• Two-step (safer) login
Plus500 platforms to choose from
Trading platform Score Available
Web 4.4 / 5 stars Yes
Mobile 4.9 / 5 stars Yes
Desktop No

The web trading platform is available in a lot of languages: Arabic, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Italian, Latvian, Lithuanian, Malay, Maltese, Polish, Portuguese, Romanian, Russian, Slovakian, Slovenian, Spanish, Swedish,Traditional Chinese, Turkish.

Look and feel

The Plus500 web trading platform is clean, well-designed and easy to use. As such, even a first-timer can navigate the site with ease.

On the downside, you cannot customize the platform.

Login and security

Plus500 provides a safer, two-step login. Google and Facebook authentication is also available, which is quite convenient.

Search functions

The search function is great, you will have no trouble finding anything. You can find the products categorized on the left or you can search by typing in the product name.

Placing orders

You can use the following order types:

To get a better understanding of these terms, read this overview of order types.

On the other hand, there are no order time limits provided.

Alerts and notifications

We also liked the platform’s alert and notification functions. You can set up email, SMS and push notifications.

The alert lets you know if the price of an asset reaches a level or changes by a set percentage. Additionally, you can also sign up be alerted if the Plus500 Traders’ Sentiment (the percentage of Buyers or Sellers among Plus500 customers) reaches a certain level.

Portfolio and fee reports

Plus500 provides transparent portfolio and fee reports. It is clearly indicated how much you paid in overnight fees. The composition of your current portfolio is also made clear, which you can check in the bar at the top of the platform.

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76.4% of retail CFD accounts lose money

Plus500 review
Mobile trading platform

The Plus500 mobile trading platform is well-designed and user-friendly.

Pros Cons
• User-friendly None
• Two-step (safer) login
• Good search function

The Plus500 mobile trading platform is very similar to the web platform. It has the same functionalities and is also user-friendly.

You can download the mobile app for iOS, Android and Windows Phone. You can also use your smartwatch, but we stuck to a conventional smartphone and tested the mobile iOS app. It was great.

Plus500 provides a safe two-step login and you also use biometric authentication, which is a convenient feature.

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76.4% of retail CFD accounts lose money

Plus500 review
Desktop trading platform

Plus500 does not offer a desktop trading platform.

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76.4% of retail CFD accounts lose money

Plus500 review
Markets and products

At Plus500 you can trade only with CFDs and forex. There is a wide selection of CFDs and currency pairs to trade with.

Plus500 is a CFD and forex broker. To learn more about CFDs read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Plus500 offers a good selection of CFDs, which is wider than eToro’s and in line with XTB’s product lineup. There are some cryptos as well, but less than at eToro and XTB.

Plus500 product selection

Plus500 eToro XTB
Currency pairs (#) 70 47 49
Stock index CFDs (#) 33 13 42
Stock CFDs (#) 1,800 1,900 1,700
ETF CFDs (#) 92 145 103
Commodity CFDs (#) 22 6 18
Bond CFDs (#) 3
Futures CFDs (#)
Cryptos (#) 14 17 25

You can also trade with options on a few stock CFDs and stock index CFDs.

You cannot change leverage levels, which is a drawback.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, as the preset leverage levels are high.

Plus500 review
Research

Plus500 provides limited research options. It has great charting tools and a well-designed economic calendar, but no recommendations, fundamental data or news feed.

Pros Cons
• Good interactive chart • No trading ideas
• User-friendly • No fundamental data available
• No/poor quality news flow

Plus500 does not provide trading ideas or fundamental data.

Charting

The charting tool is of good quality. There are 107 technical indicators and great editor tools. You can also save the charts.

News feed

You will find a well-designed economic calendar, but no news feed or newsletter.

We liked that you can filter for macro events or company-related events.

Other research tools you will enjoy

You can use Plus500’s Traders’ Sentiment tool, which shows the proportion of buyers and sellers at Plus500.

Plus500 review
Customer service

Plus500 has great customer support, available 24/7 . Both the live chat and the email support are quick and reliable.

Pros Cons
• Live chat • No phone support
• Relevant answers
• 24/7 availability

You can contact customer service via live chat and email. There is no phone support, but they use WhatsApp.

We tested the Plus500 live chat several times. It was always quick and reliable. For example, when we asked about fees they provided all relevant fees, including financing rates. After the conversation, you can rate your customer agent instantly, which is a good way to provide feedback.

The email customer support was also fine. They replied within one hour, which is extremely fast compared to other brokers. The answers we got were all relevant.

In addition to the good quality of customer service, it is also available 24/7, which is not the case at most other brokers.

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76.4% of retail CFD accounts lose money

Plus500 review
Education

Plus500 only provides a demo account and a few very basic videos about trading and using the platform.

Pros Cons
• Demo account • No trading platform tutorial videos
• Only few and basic educational videos

All education related materials can be reached at the site of Plus500 under the ‘Trader’s Guide’ section.

Visit education page
76.4% of retail CFD accounts lose money

Plus500 review
Safety

Plus500 is listed on the Main Market of the London Stock Exchange and is also regulated by more than one top-tier financial authority.

Pros Cons
• Listed on stock exchange • Does not hold a banking license
• Negative balance protection
• Financial information is publicly available

Is Plus500 regulated?

Yes, it is regulated by several financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority (FMA) of New Zealand, the Financial Sector Conduct Authority (FSCA) of South Africa, the Monetary Authority of Singapore (MAS), and the Israel Securities Authority (ISA).

Plus500 is based in Israel and was founded in 2008.

Is Plus500 safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Plus500 operates several subsidiaries and which one will serve you depends on your residency. The investor protection amount you get depends on the country of the subsidiary you are signing up with.

For example, if you are from the UK, you account will be with Plus500UK Ltd and you will get £85,000 in investor protection. Plus500UK Ltd is regulated by the FCA, the UK’s financial authority.

Plus500 investor protection

Client country Investor protection amount Regulator Legal entity
EEA countries (EU, Switzerland, Norway) €20,000 Authorized and regulated by the Cyprus Securities and Exchange Commission (#250/14) Plus500CY Ltd
UK £85,000 Authorized and regulated by the Financial Conduct Authority (#509909) Plus500UK Ltd
Australia, New Zealand and South Africa No protection Licensed by the ASIC (AFSL #417727), Financial Markets Authority (FSP #486026), and FSCA (FSP #47546) Plus500AU Pty Ltd
Singapore No protection Licensed by the Monetary Authority of Singapore (#CMS100648-1) and the IE Singapore (#PLUS/CBL/2020) Plus500SG Pte Ltd
Israel No protection Licensed by Israel Securities Authority (#515233914) Plus500IL Ltd

Plus500 provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection. This means that if the balance on your account should go into negative territory, you will be protected.

Background

Plus500 was established in 2008. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Plus500 is listed on the Main Market of the London Stock Exchange, which is a big plus for safety as Plus500 releases financial statements regularly and transparently. Other aspects, such as ownership and regulatory compliance are also all transparent.

A financially strong parent company is a plus since it can provide the online broker with additional capital if needed. In 2020, the biggest owners of the company were mostly large investment banks and asset management companies, like JPMorgan and Morgan Stanley. The biggest owner, Brighttech Investments, had a 9.99% stake. Alon Gonen, one of the founders, was also among the top shareholders, through Sparta24 Ltd.

Being listed on a stock exchange, providing financial statements and being regulated by a top-tier authority like the FCA are all great signs for Plus500’s safety.

Plus500 review
Bottom line

Plus500 is a good CFD and forex broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK’s FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by Plus500 Cyprus, thus the Cypriot investor protection will apply.

Attention Daytraders! At Plus500 scalping is defined as “a trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.” If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.

The Plus500 platform is easy to use, with a great user experience, which even first-time users can navigate with ease. Spreads are competitive, but financing rates are quite high. Some more advanced research tools would be useful.

As there is no minimum balance required, no withdrawal fee above $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.

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76.4% of retail CFD accounts lose money

Plus500 Review

Review

Plus500 is a CFD broker operating out of the United Kingdom. A huge accomplishment for this company is that it is a FTSE 250 listed brokerage, which brings with it the respect and prestige that many smaller brokers have not earned.

The background of the founding team is in technology, and the broker’s proprietary platform is the crowning accomplishment of this team. In addition to the pride it has about its trading platform, Plus500 is proud to display its impressive ratings at Google Play and in Apple’s App Store, which they trumpet as a measure of their popularity. The broker does not provide research or education, but they attempt to compensate by offering a trading platform that is extremely easy to use.

Regulation and Security

Plus500 is among the most highly-regulated brokers in the world, which is a huge advantage for traders wishing to trade with a reliable broker that is based locally. The primary regulator of Plus500 is the Financial Conduct Authority (FCA) in the UK which is counted among the strictest and most reliable Forex brokers in the world. Traders are protected under the Financial Services Compensation Scheme (FSCS), up to £85,000, as per regulatory requirements. This brokerage also operates a subsidiary regulated by the Cyprus Securities and Exchange Commission (CySEC). Plus500 is, therefore, under the Financial Instruments Directive 2020/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive. Traders are protected by the Investor Compensation Fund (CIF) with maximum coverage of €20,000, as stipulated by the EU Directive 2020/49/EU.

Plus500 also serves traders through regulated entities in Australia, regulated by the Australian Securities and Investments Commission (ASIC), in New Zealand under supervision of the Financial Markets Authority (FMA), in South Africa authorized by the Financial Services Board (FSB), and in Singapore regulated by the Monetary Authority of Singapore (MAS). The brokerage also has an Israeli branch regulated by the Israel Securities Administration. Per regulatory requirements, client funds remain segregated from company funds. Plus500 is serving traders from a proper regulatory framework (or, more precisely, several regulatory frameworks), and traders may trust this broker with deposits.

The FCA is the primary regulator of Plus500 in the UK.

Additional entities are managed across several regulatory environments.

Plus500 derives the majority of its revenues from spreads charged on over 2,000 assets. Trading costs for currency pairs are competitive, with the EUR/USD listed at 0.6 pips, and no commissions are charged by this broker. Some asset classes are priced higher than other brokers, so it’s a good idea to check before placing your trades, if you maintain multiple brokerage accounts. If not, you can rest assured that Plus500’s fees aren’t among the highest in the industry, and that some super-low fees will balance out the more expensive ones.

Swap rates on overnight leveraged positions apply. Traders can access the precise amount from inside the proprietary trading platform by clicking on “Details” next to the asset. Some traders have complained that swap rates at Plus500 are higher than those at other brokers, but we could not verify these claims during this Plus500 review. Corporate actions, like dividends, splits, and mergers, are passed on to traders. An inactivity fee of $10 per month applies if the account has been dormant for three months. While this may sound like an annoying fee, other brokers charge as much as $50/month as an inactivity fee, so Plus500’s fee is considered on the low side. A 0.3% currency conversion fee, as well as third-party payment processing fees, complete the fee structure at Plus500.

Trading costs are competitive for pure Forex trader, though fees on other assets may be higher. Plus500 does provide good transparency regarding trading fees.

What Can I Trade

Asset selection at Plus500 is excellent for retail traders through small portfolio management operations. Over 2,000 CFDs are provided across the Forex market, cryptocurrencies, commodities, equities and indices, ETFs, and options markets. Traders can properly diversify portfolios and take advantage of trading opportunities across the global financial spectrum.

Forex traders can suitably manage currency-only portfolios in a cost-effective trading environment through more than fifty currency pairs.

Cryptocurrency selection is sound and exceeds essential names, an area where Plus500 outperforms many retail brokerages.

Commodities are effectively presented and offer proper hedging capabilities for traders.

Index CFDs provide traders with a useful diversification tool and complements the equity CFD selection.

ETF CFDs support passive trading, a growing trend across portfolios.

Options complete the cross-asset trading environment at Plus500.

Account Types

Plus500 provides the same CFD account to all traders, while a professional account is available if two of three requirements are fulfilled. Different services are offered for traders with a pro account, as is common in today’s industry, and required by many regulators. Leverage for the standard account is limited to 1:30, but professional portfolios enjoy an upgrade to 1:300. The Australian entity regulated by ASIC grants leverage of 1:300 for standard accounts and presents the best choice for relevant traders.

Qualified traders may ask for an upgrade to a professional account.

Trading Platforms

Plus500 provides traders with only its proprietary trading platform, which is a surprising strategy considering the popularity of the MetaTrader suite of platforms. The platform was designed with novice traders in mind, and is touted as one of the most user-friendly platforms in the industry. The plus side (no pun intended!) is that new traders can place trades easily and navigate through different assets smoothly. The downside is that automated trading is not supported, third-party plugins are unavailable, and critical trading functions for advanced traders are largely absent.

While it would be nice for Plus500 to offer the MetaTrader 4 platform, that platform is available at most brokers, and it’s somewhat refreshing to see Plus500 stand by its principles to offer something unique and solid.

Unique Features

As mentioned earlier, the most unique offering of Plus500 is its trading platform and impressive choice of tradable assets.

Though 2020 numbers weren’t yet available at the time of this Plus500 review, the 2020 numbers published by the company are in fact impressive.

Research and Education

Unfortunately, there is no research offered by Plus500. The company does offer a limited education section called the Trader’s Guide, which has a few videos that can help traders get started. They also have a fairly comprehensive Risk Management section which explains to traders how to best mitigate their risks while trading. Some brokers have made the case that advanced traders don’t need education, as they already know how to trade, and there is some validity to this claim. However, since Plus500’s platform is relevant to traders at all levels, it would be nice if the company would expand their educational offerings.

Customer Support

Clients have access to customer support 24/7 via live chat or e-mail, which is nice, as most brokers only offer support 24/5. An FAQ section covers the most basic questions. The website covers thirty-two languages, and customer support is equally multi-lingual. Broadly speaking, most traders never require assistance from a broker’s support team. In case the need arises, Plus500 provides adequate support capabilities, highly rated by over 8,100 ratings.

Bonuses and Promotions

Plus500 does not offer bonuses or promotions to its traders, in keeping with regulatory requirements.

Opening an Account

Account openings are processed through online applications, as is the standard operating procedure across the brokerage industry. Plus500 requires an e-mail address and password for the first step of the account opening process. Traders may login with their Google or Facebook accounts, which is a nice, easy touch. New traders need to submit a copy of their ID and one proof of residency document to complete the AML/KYC verification process, as stipulated by regulators. With high regulation and connections to some of the most trustworthy apps and services on the internet, traders may trust this broker with their information.

Deposits and Withdrawals

Plus500 supports bank wires, credit/debit cards, Skrill, and PayPal. Regional payment methods may be available, but full details can be seen only from inside the trading platform, due to geotargeting efforts (so that traders aren’t bothered by irrelevant information). Processing times and potential fees are not provided. In compliance with AML requirements, the name on the trading account and payment processor need to be the same. Withdrawals are processed the same route as deposits. The deposit and withdrawal procedures mirror those at other brokerages, and appear to be in keeping with industry standards.

General Information

Company Information

  • Broker’s Name : Plus500
  • Headquarter : United Kingdom
  • Regulation : CySEC, FCA, ASIC, FMA, FSB, MAS

Account Information

  • Type of Broker : Market Maker
  • U.S. Clients Allowed :
  • Minimum Deposit : $100
  • Maximum Leverage : 1:300
  • Commissions / Spreads : Spread
  • Account 1 : CFD
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : Proprietary platform, Web-based
    • English
    • Spanish
    • Arabic
    • Italian
    • French
    • Turkish
    • German
    • Japanese
    • Chinese
    • Russian
    • Portuguese
    • Dutch
    • Greek
    • Malay
    • Thai
    • Bahasa
    • Swedish
    • Polish
    • Other
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :
  • Customer Support

    • English
    • Spanish
    • Arabic
    • Italian
    • French
    • Turkish
    • German
    • Japanese
    • Chinese
    • Russian
    • Portuguese
    • Dutch
    • Greek
    • Malay
    • Thai
    • Bahasa
    • Swedish
    • Polish
    • Hungarian
    • Other
  • Support Hours : 24/7
  • E-mail Support :
  • SMS Support :
  • Chat :
  • Pros and Cons

    • Highly regulated
    • Multi-language website
    • Demo account
    • No Swap Account

    Can you make money with Plus500?

    It is certainly possible to make money with Plus500. At the time of updating this review, Plus500 reported according to regulatory requirements that 23.6% of their retail investor accounts were making money when trading CFDs.

    How do I withdraw money from Plus500?

    You can withdraw money from Plus500 through bank wires, credit/debit cards, Skrill, and PayPal. Click on the “Withdrawals” section when logged in for exact instructions on how to execute a withdrawal from your Plus500 account.

    How long does it take to withdraw money from Plus500?

    Plus500 is usually able to get your withdrawal paid to you within 2 or 3 days at most. Plus500 clients report that PayPal tends to be the quickest withdrawal method from Plus500.

    Does Plus500 allow scalping?

    No, Plus500 does not allow scalping.

    Is Plus500 regulated?

    The UK Financial Conduct Authority (FCA) remains the principal regulator for Plus500. This broker is additionally regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (FMA), the South Africa Financial Services Board (FSB), the Israel Securities Authority, and the Monetary Authority of Singapore (MAS).

    Is Plus500 good for beginners?

    Yes, Plus500 is good for beginner traders because it is generally reported to be a user-friendly broker by its clients.

    What is the minimum deposit on Plus500?

    The minimum deposit required to open an account with Plus500 is $100 but may be higher depending upon the payment method used to fund the account.

    Where is Plus500 based?

    Plus500 is headquartered in London, UK, per its FTSE250 listed entity. It additionally manages a global headquarters in Israel while each operating subsidiary possesses its regional one.

    How does Plus500 make money?

    Plus500 charges a spread on over 2,000 assets. As a market maker, this broker also profits from client losses.

    How can I deposit into a Plus500 account?

    Bank wires, credit and debit cards, Skrill, Neteller, and PayPal compose the main payment options supported by Plus500. Regional ones may be available, but this broker solely provides this information from inside its trading platform.

    What is the minimum lot size at Plus500?

    This information is nor provided, but since Plus500 is a CFD broker, the minimum transaction size is presumed to be 1 CFD.

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    When does a margin-call take place at Plus500?

    When the account balance fails to satisfy the maintenance margin requirement, a margin call is issued. Precise requirements are provided inside the trading platform, as the maintenance margin is asset dependent.

    What is the maximum leverage offered by Plus500?

    The maximum leverage is capped at 1:30 for retail clients and 1:300 for professional clients, but retail traders under the ASIC regulated entity have access to 1:300.

    How do I open an account with Plus500?

    Plus500 has an online application form, which is the standard operating procedure.

    What trading platforms does Plus500 offer?

    Plus500 merely provides its sub-standard proprietary trading platform.

    Summary

    Plus500 is a well-regulated broker, operational since 2008, which gives it experience and tenure that many of today’s young brokers don’t have. At first glance, this brokerage comes across as a market leader, and its operational statistics are certainly impressive. The best feature provided is the asset selection, and the broker’s weakest offering is its education and research sections.

    While this brokerage is in full compliance with its regulators, it has run into some problems in the past (though they have been resolved without the company filing for bankruptcy or insolvency, which is a strongly positive sign).

    Plus500’s only platform is its proprietary platform, which can be both an advantage and disadvantage for traders. New traders will love the easy-to-use platform, and advanced traders may appreciate the simplicity as well, at least as a secondary option for traders who want to take advantage of Plus500’s other offerings.

    Trading costs for currency pairs are competitive and make Plus500 an attractive broker. Our conclusion is that despite some flaws, Plus500 offers advantages where it really counts – with a wide asset offering, user-friendly platform, and competitive spreads.

    User Reviews

    Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

    Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.

    fisherman

    Hi everyone,i just noticed this website,i see there is a lot of comments about 500+,i have been trading with them for over 3.5years,before that I looked at a lot of different platforms,each having plus and minus features,when I first looked at 500+ I could see straight away that it was a clear and simple platform.I have no connection with 500+ so I give my honest opinion.Im a self taught trader although I am in the process of doing a professional trading dip.You really have to know what you are doing with trading,no second guessing,do your research and then do more.If you have time watch Bloomberg tv,its a good way to get a feel for whats going on in the market.There are a lot of tips I could give but id be typing for hours.It is possible to make money on this platform,i made 560euro in one day,i missed a trade by 2 days which would have made me 24,000 euro in 5 days,so I know its possible,i traded blackberry successfully when almost every analyst said don’t.I also lost money,thats part of trading.

    hakiks

    I have some reservations about Plus500. First of all, why they offer £/€25,00 at the registration time! To attract you, of course and then the experience becomes boring and frustrating. Entered into their system about a month and due to the EUR set back and USD uplift lost half of my investment (though not much to other, but enough for me as an academic). The good thing is that they do not charge for each trade, but their premium is high, especially overnight. One better thing that I found is that their rates are online which is compatible to Yahoo currency. The other good thing is that they respond to your email, but there are a few things that I like to reveal.
    Now like to share about my experience. Within this one month period, every day I take a log of my preferred currencies and their rates from time to time. However, among a few things that I observed that whenever there is a big dip in the rate and you like to take the advantage of that, either your system hangs out or you are logged out of the system. When you are back to the system, either your last purchase is approved with higher price, or you lost the chance to buy the same because the rate has gone up by that time. The same thing happened to me when there is a sudden rise and I could not avail to take the opportunity. I thought and still desire to gain at most 100-200Euros from my little investment, which is not a 100% profit of course, but in reality I am very much doubtful to invest further there. Sorry, if I am wrong, or I am little unfortunate in this business (a first timer and never thought of investing in such instrument, unless much hit by this EU economic crisis), but in my believe money is not safe in to the system, unless you are very opportune. Of course, you (the Company) are in business and you have to gain money, but there should be a little flexibility from the client side too. Every time I am buying a stock from the system, I am in a tense mood, because of my feeling that I am going to lose again! Because the system does not allow you to sale without certain restriction when you are at lose (agree, but the restriction, to me seems very much confined). I hope I am wrong. Will be very happy, if someone intelligent, and more experienced may shade some light on this.

    Markmunro4

    Hi there, My name is Mark Munro, I am a 20 year old Business student in Glasgow Scotland. And i have had a very good experience with PLUS500. I deposited £150 uk pounds, i then confirmed, my e-mail, my address, and any other documentation. I know this seams abit dodgey, and i was very very weary of doing it, but i then applied to get my money withdrawn, £189 after around a week (thanks apple) it then took 5 days, and the money is back in my account. If you follow the rules youl be fine if you live in the UK. my main tip is DO NOT SCALP. or rather invest in any stock for less than 5 minutes. if you do this you will be at risk, reading the terms and coditions. I had a very good experience, although i was very nervous with all the reviews i read. If anyone has any questions, please feel free to eamil me at [email protected]
    THIS SYSTEM WORKS iffffffffffff you follow the rules, plain and simple from my experience and made £39 in one week

    Plus500 Forex Broker Review

    Last Updated: October, 2020.

    Plus500 is an CFD Service. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14). Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on Plus500’s websites.

    Please note that Plus500 does not accept U.S. clients. Therefore, if you are located in the United States, we suggest choosing another top rated broker.

    * 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 is a CFDs service.
    * This service is not available in all regions.

    Account Types

    Plus500 offers two account options, consisting of a demo account, which has no time limit and can be opened free of charge, and a live account that requires a minimum deposit of £100. Leverage for forex accounts is a maximum of 1:30.

    Trading foreign exchange on margin poses a high risk level and it may not be fitting for all types of investors. The elevated degree of leverage can cause positive and negative outcomes.

    Trading Software

    Plus500 offers a comprehensive and easy to use proprietary trading platform and technical analysis software for their clients. The trading platform allows the trader to trade in multiple markets from the same screen and provides real time quotes for all of its products.

    You can trade CFDs on Forex, commodities, cryptocurrencies, stocks, indexes, ETFs.

    Besides its ease of use, the main advantage of the Plus500 trading platform consists in an all inclusive trading screen with clearly labeled tabs on top for details on past trades and current positions, as well as multiple market trading capabilities. Charting software is included with the trading platform, but charts appear individually, since the charting software does not allow for multiple graphs on the same screen.

    The Plus500 trading platform comes in four different versions: a downloadable version, which can be copied to your laptop or desktop, a web-based version, which allows the trader to access the platform from any other computer, App versions for iOs, Windows and Android smartphones and also Apple Watch platform.

    Scalping is not allowed according to their terms and conditions.

    Deposits and Withdrawals

    Funding an account at Plus500 can be accomplished through a Visa or MasterCard credit card, MoneyBookers or through a wire transfer. The fastest way to begin trading is by depositing through a Visa or MasterCard. To complete a deposit, the customer need to click on “Funds Management” -> Deposits” and follow the instruction accordingly.

    Funding an account through Moneybookers is just as easy. The customer must navigate to the “Funds Management” window in the trading platform, select the Moneybookers option, and enter the Moneybookers e-mail address. A new pop up window will open where the Moneybookers transfer can be confirmed.

    Deposits made to Plus500 through a wire transfer are generally straightforward but take up to ***five days** to show up in the account. For a wire transfer deposit, go to the “Funds Management” window, click on “Deposit” and choose “Wire”, then click on the “Send me Wire Details” option. Plus500 will then email the customer with the wiring details.

    The Plus500 email will give the customer the details for wiring funds to their bank and also state the minimum and maximum deposit amounts allowed through a wire transfer. The minimum deposit is £100.

    Due to regulation requirements, each customer is required to provide a photo ID (passport, driver’s license or other official document), before being allowed to make a withdrawal.

    This information can be sent via *the Plus500 Contact Us form or by uploading a pdf, tif, jpeg or doc type file with the upload function provided on the Plus500 trading platform. Clients should allow up to 24 hours for the files to be reviewed. If the identification document cannot be scanned, the client can photograph the ID with a digital camera or a mobile phone.

    Risk disclaimer: CFDs are leveraged products and can result in the loss of your capital.

    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.

    Customer Support

    Plus500 offers email in multiple languages 24/7 as well as online chat in English and additional supported languages. If the chat isn’t active at a specific moment, then they can still be contacted via the Contact Us from. Nevertheless, they do not offer telephone support, which can be a disadvantage if the customer loses internet service or their computer crashes while trading. Please have a look at the comments below and you’ll see that they have an active customer support holding their promise to help their clients with every issue.

    Safety

    Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14). Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on Plus500’s websites.

    Plus500 Conclusion

    Plus500 makes a good choice for non-U.S. traders with an easy to use trading platform which offers multi asset trading capability. New traders can take advantage of the unlimited time to use the demo account, while seasoned traders can take advantage of tight dealing spreads. Also, the Plus500 trading platform offers traders the possibility of integrating their trades in other financial markets, all on one screen.

    Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

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