Plus500 Account Types Overview

Plus500 Account Types

Plus500 is a competitive CFD broker with 2,800+ tradable instruments, including options, ETFs, and cryptocurrencies. It is also home to one of the largest global trading communities with over 23M traders, who enjoy the user-friendly trading platform from the primary CFD account. The Plus500 account types available include an unleveraged investment account, which is geographically restricted, and a futures trading account, only available in the US. Additional info. On Plus500 Broker, may be found here.

Our comprehensive Plus500 account types of review will cover the different options, where most international clients have three choices. It will allow traders to make an informed choice before opening a specific Plus500 trading account.

Plus500 Account Types Overview

Noteworthy:

• The competitiveness of the trading environment may depend on the operating subsidiary that you sign up to

Plus500 Account Types

Most international clients may choose between three Plus500 account types, but one is by invite only, and one is an unlimited demo account. Our introduction covers the features of the Plus500 account types so that traders know what to expect. The Plus500 minimum deposit is $100, and Plus500 segregates client deposits from corporate funds.

Plus500 Account types – Key Points

1. Trusted broker, publicly listed in the UK and a FTSE250 constituent

2. Compliant with eight global regulators and a clean operational record

3. User-friendly backoffice, web-based trading platform, and mobile app

4. Unlimited Plus500 demo account

5. Balanced asset selection of 2,800+ trading instruments

6. Commission-free Plus500 trading conditions and negative balance protection

7. Quality education for beginners, research, and analytics tools

Plus500 CFD Account

The Plus500 CFD account is the primary account option, available to all clients (Plus500 has traders from 50+ countries). It lists all trading instruments, but availability may vary due to specific regulatory restrictions on select assets, for example cryptocurrencies. Plus500 deploys its user-friendly web-based trading platform, also available as a mobile app but does not support algorithmic or copy trading. It includes features such as analytics based on client behavior and fast order execution.

Traders can select from many account base currencies, which include the USD, GBP, EUR, CHF, AUD, JPY, PLN, CZK, CAD, HUF, TRY, SEK, NOK, and SGD. The Plus500 leverage available ranges from 1:30 up to 1:300, which again depends on the asset traded and geographic location of traders. Certain regulators have restrictions on maximum allowed leverage. A currency conversion fee of up to 0.70% exists each time Plus500 must make a conversion, for example depositing a non-account base currency for trading - something traders must consider.

Plus500 spread based trading fees for Forex traders begin from 0.8 pips or $8.00 per 1.0 standard MT4 round lot for Forex. Equity traders pay various markups, depending on the asset and liquidity. The overall Plus500 cost structure is average compared to its broker peers.

Conclusion:

• The Plus500 CFD account is the account type available to all traders and grants access to all trading instruments, products, and most trading services
• Plus500 does not support algorithmic trading

Plus500 Professional Account

The Plus500 Professional account is available to EU-based traders. It became an option following the controversial regulatory rules introduced in the 2018 ESMA-mandated changes. It offers identical trading conditions international traders receive and like the offering before the change. Traders get maximum Forex leverage of 1:300, negative balance protection, and cash rebates but must meet two of the following three professional client criteria to qualify for the Plus500 Professional account:

• Sufficient trading activity over the past twelve months of at least ten transactions per quarter
• Financial portfolio exceeding €500,000, including cash and investments
• Relevant experience in the financial sector in a professional capacity for at least one year

Conclusion:

• The Plus500 Professional account is the only option for EU-based traders to get access to better trading conditions, which include lower trading fees and higher leverage

Plus500 Invest Account

The Plus500 Invest account caters to investors managing unleveraged equity portfolios with access to 17 exchanges in the US and Europe. Regrettably, access is geographically restricted. Commissions depend on the equity exchange, but Plus500 has low minimums between €2.00 and €6.00, while brokerage commissions are 0.045% for most markets or $0.006 per share for the US.

Conclusion:

• The Plus500 Invest account offers unleveraged equity trading, but geographic restrictions apply

Plus500 Futures Account

The Plus500 Future account is available for US-based clients only, offering futures trading and clearing solutions for assets from seven exchanges. The trading platform features an add-on service allowing traders to select options trading access. Futures trading at Plus500 occurs through Cunningham Commodities LLC, a registered futures commission merchant.

Conclusion:

• The Plus500 Futures account is suitable for advanced US-based futures and options traders

Plus500 VIP Account

The Plus500 VIP account is an invite-only account promising a tailor-made experience and additional exclusive services reserved for the most valued Premium Plus500 customers. Plus500 does not publish the requirements, and the known benefits have no direct impact on the trading environment, but Plus500 mentions that it will introduce additional features. Present benefits include a client manager, analytics, and webinars. While they may benefit beginners, premium clients will not need many of the features offered, making the VIP account a marketing device of limited use we suspect.

Conclusion:

• The Plus500 VIP account is an invite-only option, but Plus500 declines to publish specifics about the conditions offered, like lower trading costs

Plus500 Islamic Account

Plus500 does not mention a swap-free Islamic account, but sources claim that Plus500 offers this account type if clients request it. Since Plus500 makes no mention of it on its website, including the FAQ section and the user agreement, it remains unclear if and how Islamic accounts are available.

Conclusion:

• Interested traders should contact customer support to inquire about Islamic accounts, the requirements to obtain one, and the trading conditions

Plus500 Demo Account

Plus500 offers unlimited demo accounts and automatically resets the default demo balance once the portfolio drops to below $200 or a currency equivalent. The default demo balance may vary depending on the geographic location of traders and is often higher than it needs to be, for example, $40,000. Traders can lower it inside the trading platform to something suitable like their planned live deposit. Beginners can use the Plus500 demo account to familiarize themselves with the functionality of the proprietary trading platform, products, and services. It includes a live support chat option, and traders can swiftly change between live and demo trading accounts.

Conclusion:

• The Plus500 demo account is ideal for evaluating the functionalities of the Plus500 trading platforms, products, and services

Plus500 Account Opening - Step by Step

New traders can open the Plus500 account types via the online application. Account verification is mandatory to comply with regulatory Anti money laundering and know your client - AML/KYC rules, which most traders satisfy by uploading a copy of their government-issued ID and one recent proof of residency document.

Below is a step-by-step guide on how to open your Plus500 trading account:

1. Go to the Plus500 website, and either click the blue “Start Trading Now” button in the middle of the homepage or the “Start Trading” button in the top right corner.
2. The first step only requires traders to submit their e-mail and password, which grants immediate access to the web-based trading platform from where traders can manage their Plus500 account types. Traders may also use their Google, Facebook, or Apple accounts to register at Plus500.
3. Traders must complete an application process before verifying their accounts. The information includes employment, financial, and trading history information.
4. Account verification is mandatory, and traders must pass it before depositing, trading, and withdrawing from Plus500. Most will satisfy AML/KYC requirements and verify their Plus500 account types after submitting a copy of their government-issued ID and one proof of residency document. Plus500 may ask for additional information on a case-by-case basis.
5. Making at least the Plus500 minimum deposit of $100 or a currency equivalent will complete the registration and setup process. Plus500 will also e-mail confirmation, which includes account login details.

Noteworthy:

• Plus500 is one of the most widely available brokers, catering to traders from 50+
• Some traders must open an account with the subsidiary and regulator in their country and have no choices (for example, EU traders must trade with the CySEC unit, US traders with the US-based subsidiary and partners)
• The regulatory jurisdiction determines the competitiveness and availability of assets of the Plus500 trading environment

Plus500 Account Verification

Plus500 account verification is mandatory to satisfy AML/KYC requirements stipulated by regulators. Traders should complete this step during the account registration, as only verified clients deposit, trade, and withdraw. Uploading a copy of their government-issued ID and one proof of residency document will satisfy account registration for most traders.

Traders should never trade with a broker that does not require account verification, as it is a red flag indicative of scams and fraud. Plus500 ranks amongst the most secure brokers, operational since 2008 and has a clean record since becoming a publicly listed company in the UK in 2018.

Plus500 Safety & Security

Plus500 has acquired 23M+ traders since its foundation in 2008, making it one of the largest trading communities in the world. Since becoming a publicly listed company in the UK and a constituent of the FTSE250 index in 2018, Plus500 has a spotless regulatory record and ranks amongst the most secure retail brokers available. It complies with eight regulators, in various jurisdictions, and offers negative balance protection. Plus500 segregates client deposits from corporate funds.

The UK and the Cyprus subsidiaries offer investor deposit protection funds. The former secures 100% of deposits up to £85,000, and the latter reinstates 90% up to €20,000. Traders must accept less favorable trading conditions for additional protection but sometimes have no choice but to trade within the regulatory environment in their jurisdiction. For example, EU-based traders cannot open an account with the competitive Seychelles subsidiary, UK-based traders cannot trade cryptocurrencies, and US-based traders have no CFDs.

How to Remove a Plus500 Account

Before requesting account removal, traders must close all open positions and withdraw their entire balance, which requires a verified trading account. After receiving their funds, traders can contact customer support via e-mail to request an account closure. Plus500 will archive the trading account and must keep information for several years in their database before removing all existing data in compliance with global rules and regulations. Traders may use live chat to reach a customer services representative for assistance.

Plus500 Account Pros & Cons

Traders should consider the pros and cons of the Plus500 account types before opening and funding one.

Plus500 Account Types Bottom Line

The Plus500 account types offer commission-free trading from a user-friendly web-based platform and a balanced asset selection. The Plus500 minimum deposit is $100 or a currency equivalent, and most international traders get one CFD account and an unlimited demo account. Plus500 has an invite-only VIP account but fails to clearly offer a competitive edge and the noted benefits are negligible.

Trading costs at Plus500 are average for the industry, with minimum Forex costs at 0.8 pips or $8.00 per 1.0 standard lot. The absence of the MT4 trading platform, support for algorithmic trading, and copy trading services may be disadvantages.

The regulatory jurisdiction determines the competitiveness of the Plus500 trading environment, with the Seychelles entity guaranteeing the most balanced combination of security and trading conditions. Given the choice of trading instruments, including options and futures, the Plus500 account types support many manual trading strategies and offer flexibility, as evident by 23M+ traders.

FAQs

Does Plus500 offer an Islamic account?

Plus500 does not publicly offer an Islamic account.

Which account type is best for Plus500?

The Plus500 CFD account, the only one available to all traders, is the best choice, except for EEA-based traders who qualify for a professional account as it includes cash rebates for high-volume traders.

How do you open a demo account on Plus500?

Plus500 has an online application form to open a demo account which only requires a username and e-mail. The Plus500 demo account has no time limit.

Does Plus500 have a cash account?

The Plus500 Invest account is an unleveraged equity and ETF trading account where clients can only trade with their available cash.

How many Plus500 accounts are there?

Plus500 has three primary accounts, but all but the CFD one is geographically restricted. An unlimited demo account, VIP account, and professional account are available, the latter is also geographically restricted.

Does Plus500 have a ZAR account?

While Plus500 does not list support account base currencies, it has a South African subsidiary and therefore offers ZAR accounts.

Can you have two Plus500 accounts?

Plus500 recommends one account per client but notes that it will assess each multi-account request on a case-by-case basis. Plus500 does not support intra-account transfers and insists that if it permits a second account, clients must operate them independently.

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