Plus500 Editor’s Verdict

UK-based Plus500 established itself as a leading commission-free CFD broker with a global reach. With more than 2,000 assets on its proprietary trading platform, this publicly listed company continues to increase its global market share. I reviewed Plus500 to determine if you should join the 430,000+ traders who trust this broker and its commission-free cost structure. Is Plus500 a broker worth considering?

Pros
  • Well-regulated globally

  • Broad asset selection in equities and options

  • Guaranteed stop-loss order

Cons
  • Low leverage for retail traders

  • Sub-standard trading platform without support for automated or social trading

  • No research and limited, below-average educational content

  • Lack of trading tools

Overview

The choice of equity CFDs makes Plus500 an excellent choice for equity-focused portfolios.

HeadquartersIsrael
RegulatedCySEC, FCA, FSA, ASIC, FMA, MAS, FSCA
Year Established2008
Execution TypeMarket Maker
Minimum Deposit$100
Trading Platforms(s)Proprietary platform, Web-based
Signals
US Persons Accepted?
Islamic Account
Segregated Account
Managed Accounts
Support Hours24/7
Customer Supportemail-support chat-support
Demo Account

I like the lightweight webtrader at Plus500 for beginner traders, but it lacks support for algorithmic trading solutions. The email and push notifications on market events and price movement alerts are also well-executed features.

Plus500 Main Features

Retail Loss Rate
77.0%
Regulation
Yes
Minimum Raw Spreads
Not applicable
Minimum Standard Spreads
0.8 pips
Minimum Commission for Forex
Commission-free
Commission for CFDs/DMA
Commission-free
Commission Rebates
Not applicable
Minimum Deposit
$100
Demo Account
Yes
Managed Account
No
Islamic Account
No
Inactivity Fee
$10 monthly after three months
Deposit Fee
No
Withdrawal Fee
Third-party
Funding Methods
5

Regulation and Security

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. Plus500 presents clients with eight well-regulated entities.

Country of the Regulator
Name of the Regulator
Regulatory License Number
United Kingdom
Financial Conduct Authority  
License Number FRN 509909
Cyprus
Cyprus Securities and Exchange Commission
License Number 250/14
Australia  
Australian Securities and Investments Commission
AFSL Number 417727
New Zealand  
Financial Markets Authority
FSP Number 486026
South Africa  
Financial Sector Conduct Authority
AFSP Number 47546
Seychelles  
Financial Services Authority
License Number SD039
Singapore  
Monetary Authority of Singapore
License Number CMS100648-1
Israel  
Israel Securities Authority
Not Available

Plus500 has eight regulatory licenses offering traders a choice between tighter regulation or a business-friendly trading environment. Plus500 is also a publicly listed company in the UK and a constituent of the FTSE 250 Index. Since listing on the London Stock Exchange (LSE) in July 2018, Plus500 has a spotless regulatory track record.

All Plus 500 subsidiaries segregate client deposits from corporate funds and offer negative balance protection. The UK and the Cyprus units additionally offer investor protection funds. The former secures 100% of deposits up to £85,000, and the latter 90% up to €20,000. Traders must accept less favorable trading conditions for additional protection.

I highly recommend the Seychelles subsidiary, as it presents the best trading environment amid higher leverage, bonuses, and more flexible trading conditions. It is ideal for active traders. Since Plus500 remains a well-capitalized broker with a trusted reputation and corporate image, the risks of default or malpractice are non-factors, in my opinion. Therefore, the lack of an investor compensation fund does not increase trading risk.

Plus500 Regulators

Fees

Commissions/SpreadsSpread
Withdrawal options
  • :
  • Deposit options
  • :
  • Plus500 offers traders a commission-free trading environment but compensates it with higher spreads. The EUR/USD commences with a minimum mark-up of 0.8 pips or $8.00 per 1 standard lot, between 25% and 50% more expensive than commission-based offers from competitors. The same applies to most assets, but a few remain competitively priced, like oil, several index CFDs, and select equity CFDs. I recommend traders check desired assets and compare them to other brokers to evaluate the costs for their strategies.

    Here is a screenshot of Plus500 live quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.

    Plus500 Live Forex Quotes

    The average trading costs for the EUR/USD in the commission-free Plus500 Pro account:

    Average Spread
    Commission per Round Lot
    Cost per 1 Standard Lot
    0.8 pips
    $0.00
    $8.00

    One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

    Plus500 traders can access swap rates from their platform by following these steps:

    1. Click on the symbol of desired assets in the trading platform, located on the far-right in the instrument row.

    2. Scroll down until you see Overnight funding -buy and Overnight funding-sell.

    Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-free Plus500 account.

    Taking a 1 standard lot buy/sell position, in the EUR/USD at the average spread and holding it for one night will cost the following:

    Minimum Spread
    Commission per Round Lot
    Swap Long
    Swap Short
    Total Trading Costs
    0.8 pips  
    $0.00
    -$8.5766
    X
    $16.5766
    0.8 pips  
    $0.00
    X
    -$4.5201
    $12.5201

    Taking a 1 standard lot buy/sell position, in the EUR/USD at the average spread and holding it for seven nights will cost the following:

    Minimum Spread
    Commission per Round Lot
    Swap Long
    Swap Short
    Total Trading Costs
    0.8 pips  
    $0.00
    -$60.0362
    X
    $68.0362
    0.8 pips  
    $0.00
    X
    -$31.6407
    $39.6407

    The commission-free trading costs at Plus500 are better than competitively priced, commission-based competitors. Compared to other commission-based pricing environments, they rank among the better ones.

    Other trading costs at Plus500 consist of a 0.70% currency conversion fee, which applies to each trade settles in a different currency than the account currency. Plus500 also offers guaranteed stop-loss orders, only available during market hours and on select assets, for which it widens the spread. In its example, the extra costs are $10.

    After three months of inactivity, Plus500 levies a $10 inactivity fee. It is deducted from the account balance each month.

    What Can I Trade

    Commodities
    Metals:
    Indices
    Stocks
    CFDs
    Oil
    Gold
    ETFs

    Plus500 maintains 71 currency pairs, ten cryptocurrency pairs, 22 commodities, 33 index CFDs, 1,737 equity CFDs, 95 ETFs, and 877 options contracts. I like the overall breadth of trading instruments, as it serves most trading strategies well. The extensive options contracts selection allows traders to deploy more sophisticated trades, and it also serves as a low-cost portfolio hedge.

    Asset List and Leverage Overview

    Currency Pairs
    71
    Cryptocurrency Pairs
    10
    Commodities and Metals
    22
    Index CFDs
    33
    Equity CFDs
    1,737
    Bonds
    0
    ETFs
    95
    Options, Futures, and Synthetics
    877
    Maximum Retail Leverage
    1:30
    Maximum Pro Leverage
    1:30

    Plus500 Leverage

    The maximum leverage at Plus500 depends on the regulatory authority. It ranges between 1:20 and 1:300. I recommend the Seychelles subsidiary for active traders, as it grants 1:300 and more overall trading flexibility, which directly impacts profitability.

    Plus500 Trading Hours (GMT +1 Server Time)

    Asset Class
    From
    To
    Cryptocurrencies
    Sunday 15:00
    Sunday 14:00
    Forex
    Sunday 23:05
    Friday 22:00
    Commodities
    Monday 00:00
    Friday 23:00
    European CFDs
    Monday 09:00
    Friday 17:30
    US CFDs
    Monday 15:30
    Friday 22:00

    Please note that equity markets open and close each trading and are not operational continuously like Forex and cryptocurrencies.

    Plus500 traders can access trading hours from their platform by following these steps:

    1. Click on the symbol of desired assets in the trading platform, located on the far-right in the instrument row.

    2. Scroll down until you see the Current trading session and Next trading session.

    Plus 500 CFD Review

    I like the CFD selection at Plus500. With 2,000+ CFDs, traders have enough trading opportunities and cross-asset diversification. Unlike many competitors who focus on large-cap stocks only, Plus500 also offers traders access to mid-cap names, where risks and rewards remain higher. Equity leverage remains restricted to 1:5, even for highly liquid names.

    Account Types

    I like that Plus500 treats all traders to the same trading account type. There is no upselling to better trading conditions based on higher deposits. Some jurisdictions, like the UK, Cyprus, and Australia, offer an upgrade to a Pro account, where traders get identical trading conditions as retail traders at the Seychelles subsidiary.

    The minimum deposit is $100, and the maximum leverage depends on the jurisdiction. I highly recommend the Seychelles unit for traders who require high-leverage trading conditions.

    Plus500 Demo Account

    Plus500 offers unlimited demo accounts. The default demo balance is $50,000. Once the portfolio drops to $200, Plus500 restores the starting balance. Traders should keep in mind that such amounts are not always realistic, which can slightly compromise the effect of the simulation.

    Trading Platforms

    Plus500 offers its proprietary trading platform. While traders may download a desktop client for Windows 10 devices, I recommend the lightweight webtrader, as the functions remain the same. It is also available as a mobile app. The trading platform is user-friendly but does not support algorithmic or social trading.

    Overview of Trading Platforms

    Platform Languages
      • English
  • OS Compatibility
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Charting Package
    Scalping
    Hedging
    Mobile Alerts
    E-mail Alerts
    Guaranteed Limit Orders
    Guaranteed Execution
    One-click Execution
    OCO Orders
    Interest on Margin
    Web-based Trading
    Mobile Trading
    MT4
    MT5
    cTrader
    Proprietary Platform
    Automated Trading
    Guaranteed Stop Loss

     

    Plus500 Proprietary Trading Platform

    Unique Features

    Plus 500 offers push notifications based on market events, alerts on price movements, and changes in its in-house trader sentiment indicator. These tools can come in quite handy as traders may use them to assist in their decision-making process.

    Research and Education

    Plus500 does not offer clients tradeable research but maintains well-written market commentary under News & Insights. Beginner traders get ten short videos complemented by written content, sufficient for an introduction. Since there are many services available online for traders to receive research and education, I do not consider the absence of both at Plus 500 as a negative. Plus500 operates purely as an execution-only market maker and does so successfully.

    Customer Support

    Support Hours24/7
    Customer Supportemail-support chat-support
    Website Languages
      • English
      • Arabic
      • Italian
      • French
      • German
      • Chinese
  • Plus500 relies on its FAQ section to answer most questions. 24/7 live support is also available, embedded with the trading platform, which I recommend for any questions. Plus500 offers email support but does not list a phone number. Since Plus500 explains its products and services well and ensures flawless operations, I doubt traders will require customer support.

    Plus500 Customer Support

    Bonuses and Promotions

    The Plus500 bonuses and promotions depend on the regulatory jurisdiction. For example, EEA-based traders have none, as the European Securities and Markets Authority (ESMA), the super-regulator of the EU, banned them.

    Traders with the Seychelles or Singapore subsidiary get a first deposit bonus on deposits above $200. Terms and conditions apply, and I recommend traders read and understand them before requesting a bonus.

    Plus500 First Deposit Bonus

    Opening an Account

    Opening an account at Plus500 takes less than 15 seconds. Traders must submit their email and select their password. They may also use their Google, Facebook, or Apple accounts to register at Plus500. Account verification is mandatory, and most traders will complete it after sending a copy of their ID and one proof of residency document.

    Minimum Deposit

    The minimum deposit at Plus500 is $100, higher than many brokers but within a reasonable range.

    Payment Methods

    Plus500 offers bank wires, credit/debit cards, Skrill, Neteller, and PayPal.

    Accepted Countries

    Plus500 caters to most international traders, including the UK, Australia, South Africa, New Zealand, and the Netherlands. It does not accept traders from the US.

    Plus500 Account Opening

     

    Deposits and Withdrawals

    The trading platform handles all financial transactions, where the options are limited to five, and availability dependent on geographic location. Plus500 does not charge deposit or withdrawal costs but a currency conversions fee of 0.70% applies where necessary. Third-party payment processor costs also exist, and I recommend traders check them. Another way to minimize costs is to avoid small or frequent withdrawals.

    Plus500 notes internal processing times for withdrawals between one and three business days. External processing times depend on the desired option, but the FAQ section lists lengthy ones even for speedy online services.

    Plus500 Payment Options

    Bottom Line

    I like the trading environment at Plus500 for manual CFD traders who do not mind slightly higher costs. Plus500 is a well-regulated and publicly listed company in the UK. Trusted by 430K+ traders, the lightweight web-based trading platform offers all core trading functions. Plus500 also offers a guaranteed stop-loss order.

    Plus 500 Broker Alternatives & Comparisons

    FAQs

    Can Plus500 be trusted?

    expand.png
    Plus500 is a publicly listed company and has eight regulators. Therefore, traders can trust Plus500.

    Is Plus500 good for beginners?

    expand.png
    The lightweight trading platform is good for beginners, but Plus500 does not provide in-depth educational resources or research.

    Is Plus500 good in Australia?

    expand.png
    Plus500 operates an Australian subsidiary with ASIC oversight and is a good CFD broker for manual traders.

    Is Plus500 real money?

    expand.png
    While Plus500 offers demo accounts with a virtual balance of $50,000, it also offers trading with real money accounts which can earn real money profit.

    About the Author

    DailyForex.com Team
    The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.