Plus500 is a CFD broker operating out of Israel. A huge accomplishment for this company is that it is a FTSE 250 listed brokerage, which brings with it the respect and prestige that many smaller brokers have not earned.
The background of the founding team is in technology, and the broker’s proprietary platform is the crowning accomplishment of this team. In addition to the pride it has about its trading platform, Plus500 is proud to display its impressive ratings at Google Play and in Apple’s App Store, which they trumpet as a measure of their popularity. The broker does not provide research or education, but they attempt to compensate by offering a trading platform that is extremely easy to use.
|⚖️ Regulations||CySEC, FCA, ASIC, FMA, FSB, MAS|
|💰 Type of broker||Market Maker|
|💰 Minimum Deposit||$100|
|💰 Maximum Leverage||1:30|
|📊 Type of platform||Proprietary platform, Web-based|
|💳 Deposit with credit card||Yes|
|👛 Depositing with wire transfer||Yes|
|🎮 Demo account provided||Yes|
|🛍️ Instruments traded||ETFs, CFDs, Commodities, Metals, Stocks, Oil, Gold, Indices|
Regulation and Security
Plus500 is among the most highly-regulated brokers in the world, which is a huge advantage for traders wishing to trade with a reliable broker that is based locally (Availability subject to regulation). The primary regulator of Plus500 is the Financial Conduct Authority (FCA) in the UK which is counted among the strictest and most reliable Forex brokers in the world. Traders are protected under the Financial Services Compensation Scheme (FSCS), up to £85,000, as per regulatory requirements. This brokerage also operates a subsidiary regulated by the Cyprus Securities and Exchange Commission (CySEC). Plus500 is, therefore, under the Financial Instruments Directive 2014/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive. Traders are protected by the Investor Compensation Fund (CIF) with maximum coverage of €20,000, as stipulated by the EU Directive 2014/49/EU.
Plus500 also serves traders through regulated entities in Australia, regulated by the Australian Securities and Investments Commission (ASIC), in New Zealand under supervision of the Financial Markets Authority (FMA), in South Africa authorized by the Financial Services Board (FSB), and in Singapore regulated by the Monetary Authority of Singapore (MAS). The brokerage also has an Israeli branch regulated by the Israel Securities Administration. Per regulatory requirements, client funds remain segregated from company funds. Plus500 is serving traders from a proper regulatory framework (or, more precisely, several regulatory frameworks), and traders may trust this broker with deposits.
The FCA is the primary regulator of Plus500 in the UK.
Additional entities are managed across several regulatory environments.
Plus500 South Africa
Plus500 continues to expand globally since its inception in 2008 in Israel, with one of its latest business expansions being Plus500 South Africa. While this CFD broker does not have an operating subsidiary registered directly with the South African Financial Sector Conduct Authority (FSCA), Plus500AU Pty Ltd serves South African trades. Plus500AU Pty Ltd is the Australian-based entity, regulated by the Australian Securities and Investments Commission (ASIC). This subsidiary is additionally authorized as a financial services provider in South Africa, offering local traders a secure and well-regulated trading environment. Client deposits remain fully segregated, and Plus500 also maintains its London Stock Exchange listing, where it adheres to strict financial requirements and business ethics
ASIC is one of the most trusted financial regulators globally, superior to the FSCA. It is also one of the few Tier-1 regulators ensuring brokers operate from one of the most competitive environments. Australia slowly transitions into a new broker hotspot, especially after changes in 2018 in Europe enforced by the European Securities and Markets Authority (ESMA). It rendered Cyprus, the former regulatory destination for broker seeking the respected framework of the Cyprus Securities and Exchange Commission (CySEC), uncompetitive. A growing number of brokers are voluntarily renouncing their CySEC licenses to relocate to a business-friendly authority, with ASIC a prime benefactor.
South African traders, therefore, enjoy the trusted protection of an ASIC-regulated broker and can manage their portfolios from an extremely competitive trading environment. Plus500 South Africa offers over 2,000 assets from its proprietary webtrader, and a generous bonus system is in place to reward more substantial deposits. Plus500 offers guaranteed stop-loss orders and negative balance protection, ensuring trades will never lose more than their deposited capital. Free e-mail and push notifications inform clients of any market-changing events. The minimum deposit is just R1,500 with 1:300 leverage when trading Forex.Back to Top
Plus500 derives the majority of its revenues from direct trading costs consisting of spreads charged on over 2,000 assets. The trading is commission-free. There are several indirect fees to consider, but overall, Plus500 offers a combination of competitive spreads on select assets with several assets having higher costs, creating an acceptable balance. Some asset classes are priced higher than other brokers, so it is a good idea to check before placing your trades if you maintain multiple brokerage accounts. If not, you can rest assured that Plus500’s fees are not among the highest in the industry and that some super-low costs will balance out the more expensive ones. Plus500 remains fully transparent about all involved costs, enabling quick comparisons and calculations. A low overall trading fee structure ensures increased profitability of trading strategies, which is why traders must consider this aspect carefully.
Plus500 states that no internal deposit or withdrawal fees apply unless traders exceed the maximum amount of free monthly withdrawals. Therefore, at least one is available per month without additional costs from Plus500, but third-party fees dependent on the payment processor exist and are out of the control of this broker. Withdrawals in a currency other than the account base currency will face currency conversion fees. Making more than one withdrawal per month should be avoided to avoid additional costs.
Currency Conversion Fees
Currency conversion fees apply each time traders request a withdrawal in a currency different than the account base currency. They also apply to each trade made in an asset priced in another currency. For example, if your account base currency is in Euros and you place an order on the Facebook CFD, which is denominated in U.S. Dollars, Plus500 will charge a 0.50% currency conversion fee upon execution of the trade on top of the exchange rate. Some brokers do not charge additional fees for this service and exchange at spot rates without a mark-up. Plus500 adds a small cost, which adds up over time, and represents an extra revenue stream for this broker.
The bulk of trading fees come from spreads, the difference between the buy (bid) and the sell (ask) price of each quoted instrument. Plus500 maintains some competitive costs for high-liquid assets like the EUR/USD, where a minimum commission-free spread of 0.6 pips ranks it in the top quintile of competitors. Other less liquid assets carry an above-average cost, resulting in an acceptable balance for most clients. Depending on the trading strategy and preference, traders may create a list of low-cost assets, avoiding pricier ones, and lowering the final fee structure.
Overnight fees or swap rates apply to leveraged overnight positions. They are interest payments on the borrowed money from Plus500 to maintain an open trade. While most are negative, there are instances where a positive swap rate applies, and traders earn a small fee for holding the asset in their portfolio. Some reports suggest that overnight costs at this broker are more excessive than at competitors, which could not be verified. Plus500 remains transparent about the applicable overnight fees, accessible by clicking on “Details” next to the asset name in the trading platform.
A $10 monthly inactivity applies if no login occurs for three months. It can be avoided by periodically accessing your account, but most traders are unlikely to become inactive as long as the portfolio has a cash balance. While this may sound like an annoying fee, other brokers charge as much as $50/month as an inactivity fee, so Plus500’s cost remains on the low side.
Plus500 Fee Calculator
Plus500 does not provide a fee calculator, but given the transparency of all trading fees, direct and indirect, traders can create one using a spreadsheet.
Plus500 remains one of the more competitively priced commission-free CFD brokers available. Together with its comprehensive asset selection, this broker maintains an ideal structure for most retail traders. Plus500 keeps the overall cost structure minimal, and transparency about all applicable fees allows traders to calculate all charges and keep track of their costs. The three fees each trader will face daily are spreads, currency conversion fees, and overnight fees, and the combination of all create a balanced pricing environment. Manual and low-frequency traders will find the attractively priced commission-free cost structure and asset selection a competitive offer.Back to Top
What Can I Trade
Asset selection at Plus500 is excellent for retail traders through small portfolio management operations. Over 2,000 CFDs are provided across the Forex market, cryptocurrencies (Availability subject to regulation), commodities, equities and indices, ETFs, and options markets. Traders can properly diversify portfolios and take advantage of trading opportunities across the global financial spectrum.
Forex traders can suitably manage currency-only portfolios in a cost-effective trading environment through more than fifty currency pairs.
Cryptocurrency selection is sound and exceeds essential names (Availability subject to regulation), an area where Plus500 outperforms many retail brokerages.
Commodities are effectively presented and offer proper hedging capabilities for traders.
Index CFDs provide traders with a useful diversification tool and complements the equity CFD selection.
ETF CFDs support passive trading, a growing trend across portfolios.
Options complete the cross-asset trading environment at Plus500.
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Plus500 provides the same CFD account to all traders, while a professional account is available if two of three requirements are fulfilled. Different services are offered for traders with a pro account, as is common in today’s industry, and required by many regulators. Leverage for the standard account is limited to 1:30, but professional portfolios enjoy an upgrade to 1:300. The Australian entity regulated by ASIC grants leverage of 1:300 for standard accounts and presents the best choice for relevant traders.
Qualified traders may ask for an upgrade to a professional account.
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Plus500 provides traders with only its proprietary trading platform, which is a surprising strategy considering the popularity of the MetaTrader suite of platforms. The platform was designed with novice traders in mind, and is touted as one of the most user-friendly platforms in the industry. The plus side (no pun intended!) is that new traders can place trades easily and navigate through different assets smoothly. The downside is that automated trading is not supported, third-party plugins are unavailable, and critical trading functions for advanced traders are largely absent.
While it would be nice for Plus500 to offer the MetaTrader 4 platform, that platform is available at most brokers, and it’s somewhat refreshing to see Plus500 stand by its principles to offer something unique and solid.
Unlike most brokers, Plus500 does not offer traders the market leading MT4 trading platform. In its place is the proprietary webtrader developed by Plus500, which we actually found as a welcome distinction for the broker during our Plus500 review, since it highlights the company's investment in its clients and its interest in simplifying the trading process. The Plus500 webtrader has an excellent reputation in the industry, but unfortunately, the website fails to fully explain the platform to really highlight its benefits. Fortunately, an unlimited demo account is available, granting new traders the best choice to explore the Plus500 Webtrader.
The information available on the broker's website reveals that the Plus500 Webtrader does not support automated trading and is only suitable for manual trading. Plus500 prides itself on the notifications and a sentiment indicator offered within its platform. Traders may set price alerts, percentage-based changes to assets, and notifications related to the sentiment adjustments. The three communication options are e-mail, SMA, and push. This broker managed to create a more sophisticated alert service than the trading platform. Since Plus500 fails to introduce other aspects, traders may access videos created by third-parties or take the Plus500 Webtraders for a demo test drive.Back to Top
As mentioned earlier, the most unique offering of Plus500 is its trading platform and impressive choice of tradable assets (Availability subject to regulation).
Though 2019 numbers weren’t yet available at the time of this Plus500 review, the 2018 numbers published by the company are in fact impressive.
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Research and Education
Unfortunately, there is no research offered by Plus500. The company does offer a limited education section called the Trader’s Guide, which has a few videos that can help traders get started. They also have a fairly comprehensive Risk Management section which explains to traders how to best mitigate their risks while trading. Some brokers have made the case that advanced traders don’t need education, as they already know how to trade, and there is some validity to this claim. However, since Plus500’s platform is relevant to traders at all levels, it would be nice if the company would expand their educational offerings.
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Clients have access to customer support 24/7 via live chat or e-mail, which is nice, as most brokers only offer support 24/5. An FAQ section covers the most basic questions. The website covers thirty-two languages, and customer support is equally multi-lingual. Broadly speaking, most traders never require assistance from a broker’s support team. In case the need arises, Plus500 provides adequate support capabilities, highly rated by over 8,100 ratings.
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Bonuses and Promotions
Plus500 Bonus Code
Plus500 offers a first-time deposit bonus in select jurisdictions, including Australia, Singapore, and South Africa. While this broker reserves the right to introduce additional incentives at its discretion, communicated to qualifying trading accounts via a message inside the trading platform, an e-mail, or both, the current one uses the Plus500 bonus code. It consists of six tiers, with a seventh special bonus promotion granted for which the code will be available in the applicable section of the trading platform. Terms and conditions apply, and traders interested in the incentive must read and understand the rules before participating in it.
The Plus500 bonus is a legit incentive to entice more significant first-time deposits, which is when most new trades opt for the highest amount, with many failing to implement a regular schedule to build their trading account. All operating subsidiaries list the Plus500 bonus code on their respective websites. At the time of this Plus500 review, there were six tiers for the Plus500 bonus code. Most traders fall into the first three labeled Welcome, BRONZE, and SILVER. They require a minimum deposit of A$300, A$750, and A$1,500 for Australia and the currency equivalent for Singapore. South African traders need to deposit R4,000, R10,000, and R20,000. Singaporeans additional have a SingaporeWelcome and a First888 alternative, requiring a deposit of S$200 and S$3,000.
Each Plus500 Bonus Code grants more capital, tied to TraderPoints (TPoints), required to turn it into withdrawable cash. The Welcome bonus offers A$/S$80 or R850 and 80 TPoints, BRONZE is A$/S$200 or R1,000 and 150 TPoints, and SILVER is A$/S$300 or R1,600 and 200 TPoints. Traders will earn TPoints based on the asset and volume traded, with a table available on the websites participating in the promotion. The other three tiers, GOLD, PLATINUM, and DIAMOND, demand a minimum deposit of A$/S$7,500, A$/S$15,000, and A$/S$75,000 or R75,000, R200,000, and R1,000,000, respectively. Total bonus capital and TPoints increase accordingly and out of reach for most traders at Plus500.Back to Top
Opening an Account
Account openings are processed through online applications, as is the standard operating procedure across the brokerage industry. Plus500 requires an e-mail address and password for the first step of the account opening process. Traders may login with their Google or Facebook accounts, which is a nice, easy touch. New traders need to submit a copy of their ID and one proof of residency document to complete the AML/KYC verification process, as stipulated by regulators. With high regulation and connections to some of the most trustworthy apps and services on the internet, traders may trust this broker with their information.
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Deposits and Withdrawals
Plus500 supports bank wires, credit/debit cards, Skrill, and PayPal. Regional payment methods may be available, but full details can be seen only from inside the trading platform, due to geotargeting efforts (so that traders aren’t bothered by irrelevant information). Processing times and potential fees are not provided. In compliance with AML requirements, the name on the trading account and payment processor need to be the same. Withdrawals are processed the same route as deposits. The deposit and withdrawal procedures mirror those at other brokerages, and appear to be in keeping with industry standards.
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- Broker's Name : Plus500
- Headquarter : Israel
- Regulation : CySEC, FCA, ASIC, FMA, FSB, MAS
- Type of Broker : Market Maker
- U.S. Clients Allowed :
- Minimum Deposit : $100
- Maximum Leverage : 1:30
- Commissions / Spreads : Spread
- Account 1 : CFD
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : Proprietary platform, Web-based
- Platform Languages :
- OS Compatibility :
- Trading Signals :
- Charting Package :
- Market Analysis :
- Chart Trading :
- Automated Trading :
- Scalping :
- Hedging :
- Mobile Alerts :
- E-mail Alerts :
- Trailing Stops :
- Guaranteed Stop Loss :
- Guaranteed Limit Orders :
- Guaranteed Execution :
- One-click Execution :
- OCO Orders :
- Interest on Margin :
- Web-based Trading :
- Mobile Trading :
- Website Languages :
- Support Hours : 24/7
- E-mail Support :
- SMS Support :
- Chat :
Pros and Cons
- Highly regulated
- Multi-language website
- Demo account
- No Swap Account
Can you make money with Plus500?
It is certainly possible to make money with Plus500. At the time of updating this review, Plus500 reported according to regulatory requirements that 23.6% of their retail investor accounts were making money when trading CFDs.
How do I withdraw money from Plus500?
You can withdraw money from Plus500 through bank wires, credit/debit cards, Skrill, and PayPal. Click on the “Withdrawals” section when logged in for exact instructions on how to execute a withdrawal from your Plus500 account.
How long does it take to withdraw money from Plus500?
Plus500 is usually able to get your withdrawal paid to you within 2 or 3 days at most. Plus500 clients report that PayPal tends to be the quickest withdrawal method from Plus500.
Does Plus500 allow scalping?
No, Plus500 does not allow scalping.
Is Plus500 regulated?
The UK Financial Conduct Authority (FCA) remains the principal regulator for Plus500. This broker is additionally regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (FMA), the South Africa Financial Services Board (FSB), the Israel Securities Authority, and the Monetary Authority of Singapore (MAS).
Is Plus500 good for beginners?
Yes, Plus500 is good for beginner traders because it is generally reported to be a user-friendly broker by its clients.
What is the minimum deposit on Plus500?
The minimum deposit required to open an account with Plus500 is $100 but may be higher depending upon the payment method used to fund the account.
Where is Plus500 based?
Plus500 is headquartered in London, UK, per its FTSE250 listed entity. It additionally manages a global headquarters in Israel while each operating subsidiary possesses its regional one.
How does Plus500 make money?
Plus500 charges a spread on over 2,000 assets. As a market maker, this broker also profits from client losses.
How can I deposit into a Plus500 account?
Bank wires, credit and debit cards, Skrill, Neteller, and PayPal compose the main payment options supported by Plus500. Regional ones may be available, but this broker solely provides this information from inside its trading platform.
What is the minimum lot size at Plus500?
This information is nor provided, but since Plus500 is a CFD broker, the minimum transaction size is presumed to be 1 CFD.
When does a margin-call take place at Plus500?
When the account balance fails to satisfy the maintenance margin requirement, a margin call is issued. Precise requirements are provided inside the trading platform, as the maintenance margin is asset dependent.
What is the maximum leverage offered by Plus500?
The maximum leverage is capped at 1:30 for retail clients and 1:300 for professional clients, but retail traders under the ASIC regulated entity have access to 1:300.
How do I open an account with Plus500?
Plus500 has an online application form, which is the standard operating procedure.
What trading platforms does Plus500 offer?
Plus500 merely provides its sub-standard proprietary trading platform.
Is Plus500 legitimate?
The answer to the question “Is Plus500 a legit Forex broker?” is yes. Operational since 2008 with oversight from five regulators and authorization as a financial service provider in two more jurisdictions. It is also a component of the FTSE250 on the London Stock Exchange.
What are the benefits of the Plus500 Gold account?
The Plus500 Gold account is an upgrade to existing features. Trades may ask for it when opening an account, but the aim is to upgrade all accounts to Gold, making it the standard. The primary benefit is a reduction in trading costs and improved market access.Back to Top
Plus500 is a well-regulated broker, operational since 2008, which gives it experience and tenure that many of today’s young brokers don’t have. At first glance, this brokerage comes across as a market leader, and its operational statistics are certainly impressive. The best feature provided is the asset selection, and the broker’s weakest offering is its education and research sections.
While this brokerage is in full compliance with its regulators, it has run into some problems in the past (though they have been resolved without the company filing for bankruptcy or insolvency, which is a strongly positive sign).
Plus500’s only platform is its proprietary platform, which can be both an advantage and disadvantage for traders. New traders will love the easy-to-use platform, and advanced traders may appreciate the simplicity as well, at least as a secondary option for traders who want to take advantage of Plus500’s other offerings.
Trading costs for currency pairs are competitive and make Plus500 an attractive broker. Our conclusion is that despite some flaws, Plus500 offers advantages where it really counts – with a wide asset offering, user-friendly platform, and competitive spreads.Back to Top
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