Plus500 Review

Author By Jeffrey Cammack Author Information Updated: January 21, 2021
Overall Rating
3.69 3.69 / 5
Rated #35 of 47 Recommended Brokers
Min. Deposit
GBP 100
Regulators
Trading Desk
Trading Cost
USD 8
Website Language: English
English, Chinese, Arabic
Support Language: English
English, Polish, Portuguese, Arabic, Chinese
AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 300:1. Cryptocurrency availability subject to regulation. Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review. 76.4% of traders lose money with this provider.

Summary

With 50+ Forex CFD pairs available, tight spreads and fast execution, Plus500 is a popular broker with both its new and long-standing customers.  Even though a lot of effort has been put into creating a user-friendly platform, CFDs are complex financial products, and thus the platform is not suitable for inexperienced traders.

Award-winning customer service is available 24/7 and the Plus500 platform is web-based with no need for any downloads or setup, making this a good provider for those starting out who want to keep it simple. 

Plus500 has one account with a 100 USD minimum deposit requirement and keeps simplicity at the core of its business.

Reviews

Regulation
111104/ 5
Trading Conditions
111003/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
10.50001.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Poor
Bonuses

Account Information

Base Currencies
Number of FX Pairs
70+
Copy Trading
No
Hedging Allowed
No
Scalping Allowed
No
Islamic Account
Yes

Trading Conditions

Min. Spread
0
Commission
Fees Included in Spread
EUR/USD
0.0
GBP/USD
0.0
USD/JPY
0.0
Max. Leverage
300:1

Company Details

Company Name
Plus500 Ltd
Founded
2008
Office Locations
Israel

Is Plus500 Safe?

Plus500 was founded in 2008 in Israel and has grown into one of the largest online brokers in the world – not only is the company publicly traded on the London Stock Exchange, meaning an additional level of scrutiny, it’s subsidiaries are regulated by seven national authorities:

  • 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 (CySEC Licence No. 250/14).
  • Plus500AU Pty Ltd holds AFSL #417727 issued by ASIC, FSP No. 486026 issued by the FMA in New Zealand and Authorised Financial Services Provider #47546 issued by the FSCA in South Africa.
  • Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1).
  • Plus500IL Ltd is registered in Israel and licenced to operate a trading platform

As per regulations, all client funds are kept segregated from the brokers own and Plus500 also offers negative balance protection, ensuring that clients cannot lose more than they have in their account..

Plus500 does not highlight any industry recognition it has received, but the company did win the Best Trading App Award from Daytrader.com in 2019.

Trading Conditions

Plus500 is a market maker which mean that Plus500 makes the market and trades are not passed on to the international currency markets. Because the market is a closed system, Plus500 is the counterparty to every trade – there are few requotes and fast trade execution.

Plus500 makes a profit from the difference in the buy and sell spreads, and additional commission is not charged on trades.

Spreads at Plus500 are variable and always changing. The Plus500 prices used in this review are are taken on 29.09.2020 12:00h. For more accurate information, check their website.

Plus500 makes a profit from the difference in the buy and sell spreads.

Account Types

Aside from a fairly standard demo account, Plus500 offers a single account with a minimum deposit of 100 USD.

There is no account choice at Plus500, which is unusual as most of its serious competitors have a number of account types with tighter spreads linked to higher deposit requirements.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Standard
USD 100
30:1
Variable
None
Account Details

Plus500 is a CFD Service. Your capital is at risk

Demo Account

The demo account gives the trader a practice area before you put up any money. The Plus500 platform is different from other brokers, so I would strongly advise you to have a good look around before you commit with a deposit. Some traders will enjoy the Plus500 platform, but others will prefer a more traditional layout.

Live Account

Besides the demo account, Plus500 only offers one other type of account with a minimum 100 USD deposit amount.

Spreads and Commissions

The spreads at Plus500 are variable with EURUSD spreads often below 1 pip.  As spreads are dynamic, expect them to be higher in times of low liquidity and for non-major currencies.

Depending on your location, leverage up to 1:300 is available and no commission is charged on any trades.  The maximum leverage of the Plus500 platform depends on the jurisdiction. For ASIC regulation, the maximum leverage is 1:300, and for FCA and CySec regulation 1:30.

The currency pricing used at Plus500 is taken from a third party and reflects actual market value, Plus500 will then add the spread to create the trading price. Spreads are published alongside the instrument on the platform.

**This is only illustrative of what you can expect of the Plus500 platform**

Deposit & Withdrawal Fees

Deposits and withdrawals are generally commission-free, though a 10 USD withdrawal fee is charged after more than five withdrawals have been made in a single month. Withdrawals via bank transfer may also incur a 6 USD charge.

Plus500 also requires a minimum withdrawal amount of 50 USD for Skrillex and Paypal and 100 USD for bank transfers and credit card. Withdrawals below this amount incur a 10 USD fee.

Withdrawal takes 3-7 days depending on the payment method.  This is slower than expected, as most brokers process all withdrawals within one working day.

Deposit and withdrawals methods include Credit Card, PayPal, Skrill, and bank transfer.

Inactivity Fee

Plus500 charge an inactivity fee of 10 USD per month after 3 consecutive months of inactivity.

**This is only illustrative of what you can expect of the Plus500 platform. No actual.**

Customer Support

Plus500 offers 24/7 customer support via email, online chat and WhatsApp message in 31 different languages. This is a much higher level of service than is commonly available.

The only way the customer support could be improved is by offering phone support for more complex queries and troubleshooting.

Trading Platform

Unlike most Forex brokers, Plus500 only offer their proprietary trading platform. This could be a concern as most similar providers also offer MetaTrader 4 or 5 in conjunction with any first-party software.

The Plus500 platform is web-based and obviously made to appeal to new traders who want to avoid the complexity of more common platforms.  The platform looks fantastic, is very easy to use and has a solid reputation in the trading community. Exceptionally, it is available in over 30 languages.

Unfortunately, the platform is not customisable so traders used setting up their own charts over a bespoke workspace will be disappointed.

Mobile Apps

Plus500 mobile apps are free for Android and IOS. They offer all of the features of the web and downloaded version of the trading suite, and make a convenient on-the-go trading solution.

**This is only illustrative of what you can expect of the Plus500 platform.**

Trading Tools

Plus500 offers a few basic trading tools within the platform.

for illustrative purposes only

You can set automated price and percentage alerts which will inform you when a certain price has been reached or when a price has increased or decreased by a chosen percentage.

You can also view trader sentiment and set alerts to inform you when a predefined percentage of traders are buying or selling an instrument.

All of these alerts can also be sent via email and SMS.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Plus500 offer. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Plus500 Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Plus500 would like you to know that: 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.

Overview

Plus500 is a leading brand in the CFD trading industry and has a loyal following of traders, with a lot of focus on making the trading platform easy to understand and a focus on trying to get the best trading conditions possible. While the education and research area could be developed further, note that the platform is not suitable for beginners/inexperienced traders.

AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 300:1. Cryptocurrency availability subject to regulation. Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review. 76.4% of traders lose money with this provider.

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.69/ 5
GBP 100
70+
9
  • Well regulated
  • Wide range of assets
  • Limited education
  • Limited account options
111104/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
11110.54.5/ 5
76.4% of retail investor accounts lose money when trading CFDs with this provider
300:1
0 pips
No
No
Yes
Fees Included in Spread
1110.503.33/ 5
GBP 200
47
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
75% of retail investor accounts lose money when trading CFDs with this provider
30:1
1 pips
Yes
No
Yes
Fees Included in Spread
1110.503.38/ 5
GBP 250
47
4
  • Good for beginners
  • Great customer support
  • Copy trading accounts
  • Expensive withdrawals
  • Local regulation only
111003/ 5
110.5002.5/ 5
111104/ 5
111003/ 5
1110.503.5/ 5
111104/ 5
11110.54.5/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
200:1
1.50 pips
Yes
Yes
Yes
Fees Included in Spread

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AlertMost retail CFD accounts lose money. Your capital is at risk.

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