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Plus500 Review

Edited by: Louis Schoeman

Plus500 Review

 

Overall Plus500 is considered a low risk, with an overall Trust Score of 99 out of 100. They are licensed by four Tier-1 Regulators (highly trusted), one Tier-2 Regulator (trusted), zero Tier-3 Regulators (average risk), and one Tier-4 Regulator (high risk). The broker offers a single live trading account. 

 

Plus500 Review – 13 key points quick overview:

  1. ☑️Overview
  2. ☑️At a Glance
  3. ☑️Plus500 Account Types
  4. ☑️How To Open a Plus500 Account
  5. ☑️Plus500 Deposit & Withdrawal Options
  6. ☑️Trading Instruments & Products
  7. ☑️Plus500 Trading Platforms and Software
  8. ☑️Plus500 Spreads and Fees
  9. ☑️Leverage and Margin
  10. ☑️Educational Resources
  11. ☑️Plus500 Pros & Cons
  12. ☑️Security Measures
  13. ☑️Conclusion

 

Overview

Overview

 

Plus500 was founded in 2008 by Israeli technology graduates and has since grown to become a top online CFD (Contract for Difference) provider.

 

The broker prioritizes user-friendly platforms created for traders of all experience levels when trading forex, commodities, indices, stocks, options, and other markets.  

 

Today, the firm has a global presence with regulatory monitoring from different agencies, emphasizing offering a secure and accessible trading environment. 

 

What is Plus500’s trust score?

The broker has a high trust score of 99%, demonstrating its dependability and dedication to trader security.

 

What languages does Plus500 support on its platform?

Plus500’s platform supports many languages, including but not limited to English, Spanish, and Chinese, to serve a worldwide customer base.

 

At a Glance

🗓 Established Year2008
⚖️ Regulation and LicensesASIC, FSCA, FCA, CySEC, FSA Seychelles, MAS
🪪 Ease of Use Rating5/5
📞 Support Hours24/7
💻 Trading PlatformsPlus500 platform
🛍 Account TypesLive Trading Account
🤝 Base CurrenciesUSD, GBP, ZAR, EUR
📊 SpreadsFrom 0.8 pips
📈 Leverage1:300
💸 Currency Pairs60+; minor, major, and exotic pairs
💳 Minimum Deposit100 USD
🚫 Inactivity FeeYes, 10 USD after three months of inactivity
🗣 Website LanguagesArabic, 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
💰 Fees and CommissionsSpreads from 0.8, zero commission fees
✅ Affiliate ProgramYes
🏦 Banned CountriesAfghanistan, Algeria, Bangladesh, Bolivia, China, Ecuador, Egypt, Iran, Lebanon, Libya, Morocco, Nepal, Nigeria, Pakistan, Qatar, Saudi Arabia, Syria, Tunisia, Turkey, United States
✔️ ScalpingNo
📉 HedgingNo
🎉 Trading InstrumentsCryptocurrencies, Forex, indices, commodities, shares, options, ETFs
🎖 Open an AccountOpen Account

 

Plus500 Account Types 

Plus500 Account Types

 

Live Trading Account
✅ AvailabilityAll; ideal for all types of traders
🛍 MarketsAll; over 2,800 instruments
💸 CommissionsNone; only the spread is charged
💻 PlatformsPlus500 platform
📊 Trade SizeFrom 0.01 lots
📈 LeverageUp to 1:300
💰 Minimum Deposit100 USD
🎖 Open an AccountOpen Account

 

Plus500 Live Trading Account

The broker offers a Retail Investor Account, suitable for experienced and new traders, with a simple structure and minimal deposit requirement of $100. It provides access to over 2,800 tradable assets, including FX, indices, commodities, and cryptocurrencies.  

 

The platform offers an average spread of 0.8 pips for EUR/USD and a maximum leverage ratio of 1:300, varying per trader’s country of residency.  

 

The platform is commission-free and user-friendly.  

 

Plus500 Demo Account

Plus500’s platform distinguishes itself by providing a full and limitless demo account. This demo account offers a practice environment that resembles real market circumstances, allowing you to test trading techniques and experience the platform’s full capabilities using virtual funds.  

 

The trial account has no time restriction, making it a valuable resource for beginner traders sharpening their abilities and experienced traders who wish to become acquainted with Plus500’s offers before transferring to a genuine account. 

 

Plus500 Islamic Account

The broker offers an Islamic account for Muslim traders who follow Sharia law standards. This account allows traders to engage in various financial markets while adhering to Sharia law.  

 

Traders can easily switch to an Islamic account after enrolling and authenticating it, allowing them to trade per their religious views while maintaining existing trading techniques. 

 

Plus500 Professional Account

They provide a Professional Account for experienced traders, offering more leverage choices while remaining commission-free.  

 

However, the professional account may have fewer regulatory safeguards than the regular retail account, and access is restricted in several jurisdictions, with Plus500 UK Ltd and Plus500CY Ltd not providing retail accounts in their respective areas. 

 

Is there a difference in spreads between Plus500’s Professional and Retail Investor Accounts?

Plus500’s spreads are similar across account categories, with EUR/USD starting at 0.8 pips for both Professional and Retail Investor accounts.

 

Does Plus500 offer an affiliate program for account holders?

Yes, Plus500 has an affiliate program that allows account holders to earn money by bringing new traders to the site.

 

How To Open a Plus500 Account 

To register an account with Plus500, follow these steps: 

 

Step 1 – Click on the Register button.

Visit the Plus500 website. Visit the official Plus500 website (https://www.plus500.com). The webpage generally has a conspicuous “Start Trading Now” or “Open an Account” button. 

How To Open a Plus500 Account Step 1

 

Step 2 – Complete the form.

Provide the requested personal information, such as your name, email address, and country of residence. Make a strong password for your account. Before checking the agreement box, carefully read the terms & conditions and risk disclosure papers. 

How To Open a Plus500 Account Step 2

 

Plus500 Deposit & Withdrawal Options 

💳 Payment Method🏛 Country⚖️ Currencies Accepted⏰ Processing Time
Debit CardsAllUSD, GBP, ZAR, EUR1 working day
Credit CardsAllUSD, GBP, ZAR, EUR1 working day
Bank TransfersAllUSD, GBP, ZAR, EUR5 to 7 working days
SkrillAllUSD, GBP, ZAR, EUR3 to 7 working days
PayPalAllUSD, GBP, ZAR, EUR3 to 7 working days

 

Deposits

How to Deposit using Bank Wire Step by Step

✅Log into your account. 

✅Go to the “Funds” or “Deposit” area. 

✅Choose “Bank Wire” as your deposit method. 

✅You will receive Plus500’s bank account information; take note of the reference number. 

✅Send a wire transfer from your bank account using the reference number supplied. 

 

How to Deposit using Credit or Debit Card Step by Step

✅Log into your account. 

✅Navigate to the “Funds” or “Deposit” sections. 

✅Select “Credit/Debit Card” as the deposit method. 

✅Enter the card number, expiration date, CVC/CVV, and deposit amount. 

✅Confirm the transaction. 

 

How to Deposit using e-Wallets or Payment Gateways Step by Step

✅Log into your account. 

✅Enter the “Funds” or “Deposit” section. 

✅Choose your favourite e-wallet (such as PayPal or Skrill). 

✅Enter the amount you wish to deposit. 

✅You will be taken to the e-wallet’s login page to complete the transaction. 

 

Withdrawals

How to Withdraw using Bank Wire Step by Step

✅Log into your account. 

✅Go to the “Funds” or “Withdrawal” sections. 

✅Choose “Bank Wire” as your withdrawal method. 

✅Enter your bank account information and the amount to withdraw. 

✅Review and confirm the withdrawal request. 

 

How to Withdraw using Credit or Debit Cards Step by Step

✅Log into your account. 

✅Enter the “Funds” or “Withdrawal” section. 

✅Select “Credit/Debit Card” as your withdrawal method. 

✅Enter the amount you want to withdraw (up to the amount you deposited with that card). 

✅Submit a withdrawal request. 

 

How to Withdraw using e-Wallets or Payment Gateways Step by Step

✅Locate the “Funds” or “Withdrawal” section. 

✅Choose your favourite e-wallet (such as PayPal or Skrill). 

✅Enter the amount you wish to withdraw. 

✅Review and confirm the withdrawal request. 

 

What currencies does Plus500 accept for deposits?

Plus500 allows deposits in major currencies, including the US dollar, British pound, South African rand, and euro.

 

Are there any fees for depositing or withdrawing funds from Plus500?

No, Plus500 has no fees for depositing or withdrawing funds, making the procedure affordable for traders.

 

Trading Instruments & Products 

Plus500 offers the following trading instruments and products: 

➡️Cryptocurrencies – The broker offers a platform for trading several cryptocurrencies. Traders may interact with prominent digital currencies. 

➡️Indices – Additionally, Plus500 offers a variety of global indices, allowing traders to bet on the price swings of index futures without trading individual stock components. Index trading spreads, such as 1.9 pips for USD-TECH100 Futures CFDs. 

➡️Forex – The broker provides extensive forex trading expertise with major, minor, and exotic currency pairings. Traders may study forex market dynamics with narrow spreads starting at 0.8 pips for EUR/USD. 

➡️Commodities – Plus500’s commodity trading comprises a wide range of assets such as gold, silver, and crude oil. Spreads are competitive, with gold starting at 0.55 pips, allowing traders to enter positions based on market predictions of commodity price fluctuations. 

➡️Shares – Moreover, Plus500 provides access to share CFDs from various worldwide marketplaces, allowing traders to speculate on price swings without holding the underlying shares. 

➡️Options – The platform also supports options trading, which allows traders to bet on the future price of an underlying asset. 

➡️ETFs – Overall, Plus500 provides ETF trading, which combines fund diversification with the convenience of trading individual equities. Traders can bet on the overall performance of markets or sectors using products such as VXX ETFs. 

 

Can I trade stock CFDs on Plus500?

Yes, Plus500 provides a range of stock CFDs from global marketplaces, allowing traders to speculate on price swings without holding the underlying shares.

 

Are ETFs available for trading on Plus500?

Yes, Plus500 traders have access to various ETFs, allowing them to participate in a diverse portfolio of assets using a single trading instrument.

 

Plus500 Trading Platforms and Software 

Trading Platforms and Software 

 

Plus500 WebTrader is a browser-based trading platform for beginners or those seeking a simplified trading experience. It offers technical analysis charting tools, risk management orders, and real-time market data.  

 

The platform is accessible without downloading any software. For on-the-go traders, Plus500’s mobile app offers a similar layout and functionality, with simplified charting tools, risk management features, and live price feeds.  

 

The app also includes push alerts for market changes and potential trade opportunities. Both platforms are accessible without downloading any software. 

 

Can I use MetaTrader with Plus500?

No, the broker has its in-house trading platform and does not provide MetaTrader as an alternative.

 

Are there any fees for using the Plus500 trading platform?

No, the broker charges no additional costs for utilizing its trading platform, including all the tools required for successful trading.

 

Plus500 Spreads and Fees 

Spreads and Fees 

 

Spreads

The broker charges forex traders on spreads, fluctuating based on asset and market conditions but starting from 0.8 pips on EUR/USD. The spread, which includes the broker’s charge, offers transparency and simplicity in trading expenses.  

 

This allows traders to manage their expenses and engage in high-frequency trading without incurring large costs, making Plus500 a competitive entry point for forex traders. 

 

Commissions

The broker offers a commission-free cost structure, allowing traders to evaluate gains and losses without accounting for changeable commission prices. This transparent cost management strategy demonstrates Plus500’s commitment to providing an accessible trading environment. 

 

Overnight Fees

Overnight or rollover costs are industry-standard charges for traders holding positions on platforms. These charges vary per instrument and are crucial for traders to consider, especially for deals that do not close on the same trading day. 

 

Deposit and Withdrawal Fees

The broker offers a seamless funding experience without fees for deposits or withdrawals, attracting traders who frequently transfer funds. This reduces total trading expenses, creating a more favourable trading environment. 

 

Inactivity Fees

The broker charges $10 per month for inactive accounts after three months of no trading activity, promoting active account maintenance and trading while covering administrative costs, requiring traders to be aware of this cost. 

 

Currency Conversion Fees

Plus500 charges a currency conversion fee for trading instruments in a different currency, covering currency risk and conversion costs. This may affect profitability, especially in deals with marginal returns. 

 

How does Plus500 charge for overnight positions?

The broker charges an overnight fee, commonly known as a swap fee, for positions held open after the market closes, with the cost varying based on the instrument and whether the position is long or short.

 

What is the inactivity cost for Plus500 accounts?

The broker levies a $10 per month inactivity fee after three months of non-use, urging traders to be active or delete their accounts to avoid this penalty.

 

Leverage and Margin 

Plus500’s trading facilities offer leverage up to 1:300, which is not universally available due to regulatory constraints. Countries like the European Union limit leverage to 1:30 for key currency pairings.  

 

This leverage method increases market exposure and the risk of losses, making it a double-edged sword for novice traders.  

 

Margin requirements are the funds a trader must have as collateral to initiate a transaction. Plus500 may issue a margin call or terminate positions if account equity falls below the margin requirement, preventing both parties from entering a negative balance. 

 

What are the margin requirements for trading on Plus500?

Plus500’s margin requirements vary per instrument and are expressed as a percentage of the overall position value, acting as collateral to preserve the position.

 

Can I change my leverage levels on Plus500?

Plus500’s leverage levels depend on the instrument and the trader’s regulatory environment.

 

Educational Resources 

The broker offers the following educational resources: 

➡️Trading Academy – The Trading Academy is a comprehensive resource for traders, offering lessons, tips, and articles on various trading topics, particularly for novices seeking a solid foundation in trading fundamentals and advanced methods. 

➡️News and Market Insights – Plus500 provides traders with up-to-date financial news and analysis, covering major market events and trends that may affect various trading instruments, making it crucial for traders to incorporate fundamental analysis into their trading techniques. 

➡️+Insights – The tool is designed to provide traders with detailed market data, expert commentary, technical analysis, and predictive modelling, aiding in better trading decisions, a common strategy experienced traders use. 

➡️Economic Calendar – The economic calendar is a crucial tool for traders, tracking major economic events like indices, earnings reports, and central bank policy choices, enabling them to predict market moves and arrange transactions. 

➡️Risk Management – The broker emphasizes risk management by offering instructional tools for traders, such as stop-loss orders and leverage analysis, demonstrating its commitment to responsible trading methods. 

➡️Alerts – The broker provides traders with an alert system that provides real-time information on market developments and trading opportunities, enabling them to react swiftly to price moves, market announcements, and instrument price thresholds. 

 

Does Plus500 offer educational materials for novice traders?

The broker offers a Trading Academy, which includes a variety of training resources and tutorials to assist new traders in learning and improving their trading skills.

 

Can I learn about risk management on Plus500?

The broker does provide instructional information on risk management measures, emphasizing the necessity of adopting instruments such as stop-loss orders to safeguard assets.

 

Plus500 Pros & Cons 

✔️ Pros❌ Cons
Plus500 offers a full, unlimited demo accountWhile Plus500 provides basic educational materials, its offers in this area fall short when compared to those of its competitors
Several top-tier financial regulators regulate Plus500 throughout the worldInactivity fees can be imposed on accounts that have been idle for a specified amount of time
Plus500's platforms are known for their easy designThe main MetaTrader platforms are not natively supported
Negative Balance Protection prevents your account balance from dropping below zeroHolding CFD holdings overnight will result in costs, which may impair long-term trading strategy
The specialized mobile app provides a seamless trading experience with features identical to the online platform, making it suitable for on-the-go accessPlus500 concentrates on Contracts for Differences (CFDs) and does not provide direct stock ownership
Plus500 has reasonable spreads on various assets, especially when compared to other large CFD brokers
Plus500 provides a diverse choice of markets for CFD trading, with over 2,800 products

 

Security Measures 

The broker protects its clients’ assets and data through strict security measures. The company follows strict regulatory requirements, ensuring customer funds are segregated from the company’s finances.  

 

Furthermore, SSL technology encrypts transactions and personal information, preventing unauthorized access. Two-factor authentication (2FA) is also available for added security. The platform also offers guaranteed stop-loss orders to limit losses in turbulent markets.  

 

Plus500’s systems are regularly updated to address security vulnerabilities and comply with the latest cybersecurity best practices. These proactive measures demonstrate Plus500’s commitment to providing a secure and reliable trading experience. 

 

Does Plus500 offer two-factor authentication (2FA) for account security?

Yes, the broker offers two-factor authentication (2FA), which adds another layer of protection to the login process and prevents unauthorized account access.

 

Can I secure my Plus500 account with social media logins?

The broker allows you to log in using Google and Facebook, integrating social media for simplicity while preserving security features such as encryption.

 

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Conclusion 

Overall, Plus500 is a popular choice for traders due to its accessibility, asset diversity, and regulatory control. It offers a user-friendly platform for exploring CFD markets, including forex, indices, and commodities.   

Faq

Yes, Plus500 provides a demo account with virtual funds, allowing users to test their trading methods and become acquainted with the platform’s features.

Withdrawals from Plus500 normally take one business day to complete.

Yes, Plus500 offers several risk management tools, including stop-loss orders. 

Plus500 requires a $100 minimum deposit to start a trading account, which grants traders access to a variety of financial products. 

Yes, Plus500 allows traders to trade cryptocurrencies using leverage. 

Yes, Plus500 is regarded as a safe broker, licensed by various top-tier financial authorities worldwide, assuring strict adherence to laws and the safety of customer money.

Plus500 protects clients’ assets by employing segregated bank accounts to keep them separate from business funds.

Plus500 allows traders to trade with a wide range of products, including forex, equities, commodities, indices, ETFs, options, and cryptocurrencies.

Yes, Plus500 imposes a $10 monthly inactivity fee if a trading account is not utilized for three months.

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