Plus500

Disclaimer:The information provided on this site should not be distributed or used by any individual in any country or jurisdiction where such distribution would violate local laws or regulations.

Popularity top broker
Leverage 1:30 for retail clients, 1:300 for professional clients
Minimum Deposit $100
Regulation ASIC, CySEC, FCA
Payment Methods Credit Card, PayPal, Bank Transfer, Skrill
Trading Assets Forex, Stocks, Commodities, Cryptocurrencies, ETFs, Options
MT4
MT5
Spreads Low
Average cost: EUR/USD 0.6 pips
Demo Account
Islamic Account
MAM
PAMM
Copy Trading
ZuluTrade
Scalping No
Signals
EAs/Robots Not Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Inactivity Fee $10 after 3 months of inactivity
Year Established 2008
Address 1 Siafi Street | 3042 Limassol
Contact Information Email: [email protected] | 24/7 Live Chat Support
Mobile Trading APP
Rating ★★★★☆ [4.5]
Website

Pros and Cons

Pros
  • Regulated by multiple top-tier authorities
  • User-friendly trading platform
  • Comprehensive risk management tools
  • Competitive spreads and no commission fees
  • Fast and reliable customer support
Cons
  • Limited product portfolio compared to other brokers
  • No MetaTrader platform support
  • Inactivity fee after 3 months
  • No educational resources for beginners
  • Limited research tools

Introduction

In the dynamic world of online trading, choosing the right broker is a critical decision that can significantly impact your trading journey.

Plus500 emerges as a notable contender in the arena, offering a robust platform for trading CFDs (Contracts for Difference) across various asset classes, including forex, stocks, indices, commodities, ETFs, options, and cryptocurrencies.

This comprehensive review delves into its facets, assessing its platform, features, regulatory compliance, fees, and customer support to provide traders with a thorough understanding of what to expect.

Regulatory Compliance and Security

Regulatory Background

Plus500 stands out for its strong regulatory framework, operating under the oversight of several top-tier financial authorities, including:

  • The Financial Conduct Authority (FCA) in the UK
  • The Australian Securities and Investments Commission (ASIC)
  • The Cyprus Securities and Exchange Commission (CySEC)

These regulatory bodies ensure that the company adheres to stringent standards of security, fairness, and financial stability, offering traders peace of mind regarding the safety of their funds and the integrity of their trades.

Security Measures

The broker employs state-of-the-art security measures to protect its clients’ data and financial assets.

These include:

  • SSL encryption for data transmission
  • Segregation of client funds in top-tier banks
  • Negative balance protection, ensuring clients cannot lose more than their account balance

Trading Platform

Overview

Plus500’s trading platform is designed with both novice and experienced traders in mind, providing a balance between simplicity and functionality.

The platform is available via web and mobile apps (iOS and Android), catering to the needs of traders on-the-go.

Features

  • User-friendly interface: The platform boasts a clean and intuitive interface, making it easy for traders to navigate and manage their trades.
  • Charting tools: Traders have access to a comprehensive set of charting tools and technical indicators, allowing for in-depth market analysis.
  • Risk management tools: Features such as stop loss, take profit, and guaranteed stops help traders manage their risks effectively.
  • Demo account: A demo account is available, enabling traders to practice their strategies without risking real money.

Asset Classes and Instruments

The broker offers a broad selection of CFDs across various asset classes, ensuring traders have ample opportunities to diversify their portfolios.

These include:

  • Forex: Over + 90 currency pairs, including major, minor, and exotic pairs
  • Stocks: Access more than 4000 global stocks from the US, UK, Europe, Asia, and more
  • Commodities: Trade on gold, oil, silver, and other commodities
  • Cryptocurrencies: CFDs on more than 100 popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin
  • Indices: Trade on leading global indices like the S&P 500, FTSE 100, and DAX
  • ETFs: A selection of ETFs covering various sectors and themes
  • Options: CFDs on options across multiple markets

Fees and Spreads

Plus500 operates on a “no commission” basis, with its fees primarily incorporated into the spreads.

Here’s a breakdown of its fee structure:

  • Spreads: Competitive spreads on various instruments. For example, the EUR/USD pair typically has a low spread, starting from 0.6 pips.
  • Overnight fees: Fees are charged for holding positions overnight, which vary depending on the instrument and the direction of the trade.
  • Inactivity fee: A fee of $10 is charged if the account is inactive for three months, encouraging regular trading activity.

Customer Support

The company prioritizes customer satisfaction with a responsive and helpful support team.

Support options include:

  • 24/7 Live Chat: For instant assistance, traders can use the live chat feature available on the platform.
  • Email Support: Traders can send detailed inquiries via email, with their support team providing comprehensive responses.
  • FAQ Section: A well-organized FAQ section addresses common questions, offering quick solutions to standard queries.

Trading Experience

Accessibility and Ease of Use

The trading experience with Plus500 is streamlined to cater to traders of all levels, from beginners to seasoned investors.

Accessibility is a key feature, with the platform available on multiple devices, ensuring traders can monitor their portfolios and execute trades from anywhere at any time.

The web-based platform requires no download, making it instantly accessible, while the mobile apps are optimized for trading on the go.

Execution Speed and Reliability

Plus500 prides itself on execution speed, minimizing slippage even in fast-moving markets.

The platform’s reliability is bolstered by robust infrastructure, ensuring downtime is rare and traders can always access their accounts when it matters most.

Advanced Trading Features

For those looking to take their trading to the next level, Plus500 offers several advanced features:

  • Alerts: Price alerts and notifications on market events keep traders informed.
  • Guaranteed Stops: An optional feature that, for a fee, guarantees the stop-loss level, protecting against market gap risks.
  • Close at Profit/Loss Orders: These orders allow traders to set specific levels at which positions are automatically closed to lock in profits or limit losses.

Educational Resources

While the company offers an impressive trading platform and a wide range of instruments, it falls short in the area of educational resources.

The platform does not provide extensive materials like webinars, e-books, or in-depth tutorials that cater to beginners.

However, traders can benefit from:

  • Demo Account: The demo account serves as a practical learning tool, allowing traders to familiarize themselves with the platform and test strategies without risk.
  • Articles and Guides: A limited selection of articles and guides covers the basics of CFD trading and how to use the platform.

Account Types

Plus500 simplifies the account structure by offering a single trading account type, making it straightforward for traders to get started.

The main features include:

  • Minimum Deposit: The minimum deposit to open an account is $100, accessible for traders with various budget sizes.
  • Demo Account: As mentioned, the demo account is freely available, mirroring the trading environment of a real money account without the financial risk.
  • Professional Account: For traders who meet certain criteria, it also offers a professional account, which provides higher leverage but less regulatory protection.

Deposits and Withdrawals

Payment Methods

Plus500 supports a wide array of payment methods for deposits and withdrawals, including:

  • Credit/Debit Cards
  • Bank Transfers
  • E-Wallets (PayPal, Skrill)

Withdrawal Times and Fees

Withdrawals are processed within 1-3 business days, which is relatively swift.

The platform does not charge any fees for withdrawals, although traders should be aware of potential fees from their bank or payment provider.

Customer Feedback and Reputation

The company has established a solid reputation among traders worldwide, praised for its user-friendly platform and range of trading instruments.

However, some areas for improvement include the need for more educational resources and enhanced customer service responsiveness.

Customer reviews often highlight:

  • The simplicity and efficiency of the trading platform
  • Competitive spreads
  • Reliable execution

Critiques tend to focus on:

  • Limited educational materials for beginners
  • Customer support response times during peak hours

Conclusion

Plus500 stands out as a broker that offers a comprehensive and user-friendly trading environment, suitable for a wide range of traders.

The platform’s emphasis on simplicity, combined with a strong regulatory foundation and a broad array of trading instruments, makes it an attractive option for those looking to trade CFDs across multiple asset classes.

While the lack of educational resources may be a drawback for absolute beginners, the platform’s intuitive design and the availability of a demo account help mitigate this issue.

Additionally, the competitive spreads, no withdrawal fees, and the option for high leverage (for professional clients) further enhance its appeal.

The broker provides a solid trading platform that balances simplicity with the depth of features required by more experienced traders.

Whether you’re just starting out or looking for a broker that can accommodate more sophisticated strategies, Plus500 merits consideration as a top contender in the CFD trading space.

User Reviews

“I’ve been trading with Plus500 for over a year now, and I must say, their platform is incredibly user-friendly and straightforward. The spreads are low, which is great for my short-term trading strategy. However, I wish they offered more educational materials for new traders like myself in the beginning.”
Emily Johnson
“Their customer support is top-notch. They were very responsive and helpful when I had issues with my withdrawal. It was resolved quickly, and I had my funds within days. Highly recommend for anyone looking for a reliable broker.”
Mark Thompson
“While I enjoy the simplicity of Plus500’s platform, I’m a bit disappointed by the lack of MetaTrader support. As someone who relies heavily on EA, this is a significant drawback for me.”
Sara Kim
“Their mobile app is fantastic. It allows me to trade on the go and keep an eye on my positions easily. The interface is intuitive, making it easy for me to execute trades quickly.”
Alex Rivera
“I started with the demo account at Plus500 and found it incredibly useful for getting a feel for the platform without risking real money. Once I moved to a live account, the transition was seamless. Great platform for beginners and experienced traders alike.”
Natalie Chen

Featured Video Broker

Frequently Asked Questions (FAQ)

What is the minimum deposit?

The minimum deposit is $100, making it accessible for traders with various budget sizes.

Does it offer a demo account?

Yes, Plus500 offers a free demo account for users to practice trading strategies without risking real money.

Is Plus500 regulated?

The company is regulated by several top-tier authorities, including the ASIC, CySEC, and FCA, ensuring a high level of security and fairness for traders.

Can I trade cryptocurrencies?

Yes, it offers trading on a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.

What payment methods does Plus500 accept?

Plus500 accepts several payment methods, including Credit Card, PayPal, Bank Transfer, and Skrill, for deposits and withdrawals.

Does Plus500 charge withdrawal fees?

It does not charge any withdrawal fees, allowing you to access your funds without additional costs.

How can I contact their customer support?

It offers 24/7 customer support through email and live chat, providing prompt and helpful assistance for any inquiries or issues.

Resources

      Our experts

      This article has been written, edited and reviewed by the following members of our team:

      feng-zhou-foxtrade

      Feng Zhou

      Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.

      sandro-pontedra-foxtrade

      Sandro Pontedra

      Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.

      stephane-dubois-foxtrade

      Stephane Dubois

      Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.

      Last update: June 6, 2024