Plus500 Review [year]

Overview

	Headquarters	Israel
	Regulated	CySEC, FCA, ASIC
	Year Established	2008
	Execution Type	Market Maker
	Minimum Deposit	$100
	Trading Platforms(s)	Proprietary platform, Web-based
	Signals
	US Persons Accepted?
	Islamic Account
	Segregated Account
	Managed Accounts
	Support Hours	24/7
	Customer Support
	Demo Account
	Retail Loss Rate	77.00%
	Minimum Raw Spreads	Not applicable
	Minimum Standard Spreads	Not applicable
	Minimum Commission for Forex	Not applicable
	Cashback Rebates
	Deposit Fee
	Withdrawal Fee
	Funding Methods	4 (Visa, Paypal, Skrill, Bank transfer)

I like the lightweight webtrader, 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

Plus500 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.

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 client funds deposited with Plus500’s Cyprus subsidiary are held in segregated client bank accounts in accordance with the Cyprus Security and Exchange Commission’s (CySEC) client funds rules. Plus500AU Pty Ltd holds client money in a segregated trust account, in accordance with the Australian legal requirements.

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 Fees

Plus500 offers traders a commission-free trading environment with dynamic spreads and no minimums, dependent on market conditions. Some trading fees are highly competitive, for example crude oil CFDs, some index CFDs, and select equity CFDs, while others are more average. I recommend traders check desired assets and compare them to other brokers to evaluate the costs of their strategies and find pricing advantages.

Assets without a dynamic spread will not see wide fluctuations while a position remains open, as outlined in the Plus500 user agreement. We observed a spread of 0.8 pips in the EUR/USD at 9:44 am London time on 31^st August 2022 during the early part of the London session, equivalent to $8 per standard lot. All Plus500 spreads remain susceptible to change, and sometimes in greater intervals, related to changing market conditions and liquidity.

Overnight Funding Fee

Swap rates apply to overnight positions, and Plus500 pays positive swap rates on certain instruments at times, meaning traders can receive a daily fee for holding positions open over the New York rollover. Traders can conveniently check applicable fees by clicking on the Details link next to the name of the trading instrument in the trading platform.

Currency Conversion Fee

Plus500 levies a currency conversion fee of up to 0.70% on realized profits and losses. For example, if you have the US Dollar as your account base currency and make trades in Euro-denominated assets, Plus500 will charge a currency conversion fee.

Guaranteed Stop Order Fee

Traders may use guaranteed stop orders at Plus500, ensuring positions close at the price the trader specifies, irrelevant to market conditions. Plus500 charges a fee for use of a guaranteed stop order by widening the spread on the asset, which is irrevocable, and asset dependent.

Inactivity Fee

Plus500 charges a monthly inactivity fee of $10 if traders fail to log into their accounts for three months. This can be easily avoided by checking your account balance every two to three months if you are otherwise inactive with your trading account.

What Can I Trade on Plus500

Plus500 offers as CFDs 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

Plus500 Trading Hours (GMT +1 Server Time)

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.

Plus500 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.

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.

Plus500 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

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. 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 Hours	24/7
	Customer 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 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.

Plus500 Minimum Deposit

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

Payment Methods

Plus500 payment methods are:

• Bank wires
• Credit/debit cards
• Skrill
• Neteller
• PayPal.

Plus500​ Accepted Countries

Plus500 caters to most international traders, including:

• UK
• Australia
• South Africa
• New Zealand
• Netherlands

Plus500 does not accept traders from the US.

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.

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.

FAQs

Can Plus500 be trusted?

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

Is Plus500 good in Australia?

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

Is Plus500 real money?

While Plus500 offers demo accounts with a virtual balance of $50,000, it also offers trading with real money accounts which may or may not 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.