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81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500 Broker Review (2024)

Plus500 Broker Review (2024)

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81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

If you have a keen interest in online trading, you will undoubtedly have heard of Plus500.

Founded in 2008, Plus500 has seen incredible growth in a relatively short space of time as a global fintech company with subsidiaries in seven different countries.

As an online broker, Plus500 has an impressive number of Contracts for Difference (CFDs) that it trades across three platforms: Plus500CFD with more than 2,800 CFD instruments, Plus500Invest with more than 2,700 shares (available in certain countries), and Plus500Futures, a futures platform available in the US only.

You may have seen it listed on the London Stock Exchange under the ticker ‘PLUS’, the Main Market of the LSE and within the UK FTSE 250 index.

Founded by six Israel Institute of Technology graduates and successful entrepreneurs with a starting capital of $400,000, it is an online trading success story.

As a multi-asset trading platform, you may be wondering, is Plus500 a good broker? The answer to this question is yes.

However, there are pros and cons with all trading platforms, as we cover in our Plus500 review.

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Pros

  • No buy/sell commissions and tight spreads
  • Leverage of up to 1:30
  • FREE unlimited Demo
  • 2,800+ CFDs (shares, ETFs, crypto, forex, options, indexes, commodities), 2700+ Shares, Futures
  • Real-time quotes and advanced analytical tools
  • Fast and reliable order execution
  • Advanced analytical tools
  • Fast and secure withdrawals

As well as the following alerts:

  • Get real-time email, SMS and push notifications based on:
  • Price Alerts
  • Change % (Daily or Hourly)
  • Traders’ Sentiments (Buyers % vs. Sellers %
  • +Insights
  • Watchlists - Users are able to manage multiple favorite lists.
  • Free rollover adjustment - Allows users to continue holding the same position on
  • Commodities and Indices CFDs after the future contract reaches its expiry date.

Cons

  • No API integrations
  • No social copy trading

Visit Plus500

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Is Plus500 Regulated?

Plus500 is regulated in the following jurisdictions and expanding even at the moment to more:

  • Plus500CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
  • Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
  • Plus500AU Pty Ltd holds AFSL #417727 issued by ASIC, FSP No. 486026 issued by the FMA in New Zealand and Authorised Financial Services Provider #47546 issued by the FSCA in South Africa.
  • Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039).
  • Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18).
  • Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648).
  • Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651).
  • Plus500IL Ltd is a company registered in Israel, holding a license to operate a trading platform granted by the Israel Securities Authority.

Who Is Plus500 For?

As part of our Plus500 review, it’s important to consider who the trading platform is for. The first thing to mention is that it is not really for beginners.

It is for those who have a strong working knowledge of how CFD trading works.

As we covered in our IG broker review, CFD trading is where people trade the value difference in contracts bought and sold through an online provider, in this case the Plus500 platform.

You need to have knowledge of this type of trading since you speculate on the rise and fall of contract value differences rather than owning any assets. After all, the amount you make or lose depends on your best judgment and accurate understanding of CFDs.

That said, if you are familiar with CFD trading, our Plus500 review suggests that it is a great platform to access a wide range of markets with low trading costs.

Yes, there are Plus500 fees to consider, but there are over 2,800 trading instruments for you to trade.

The Plus500 platform is therefore ideal for experienced traders who are not fazed by transacting manually and find the low fees and commissions appealing.

Plus500 Platform Features and Services

As a quick Plus500 review, and at a glance, the Plus500 platform is best known for its CFD trading. As such, all the instruments listed below can be traded on the Plus500 platform through its CFD service:

  • Indices
  • Plus500 forex (trade a wide range of forex pairs)
  • Commodities (gold, oil and silver are all available on the Plus500 platform)
  • Exchange Traded Funds (ETFs) such as SPDRUSA500 and VXX Volatility
  • Options (cut and pull options on oil, Facebook and Germany 30)
  • Cryptocurrencies (including bitcoin, Litecoin, Stellar, Cardano, NEO, EOS, IOTA and Ethereum). (Plus500 offers two cryptocurrency pairs: Crypto 10 Index and ETHBTC pair which can be traded on the CFD platform.) Availability subject to regulations.

In addition, Plus500 offers share trading via Plus500Invest and Futures via Plus500Futures (available only in the US).

The company’s success means that it is often the first to introduce high-profile instruments and listed equities.

Over the next few years, it intends to grow its market share in different jurisdictions to expand its geographical reach and open new opportunities and services.

Futures Trading with Plus500

Plus500 US allows users to practice demo trading via the WebTrader platform and the Plus500 mobile app.

Users can view live quotes and simulate live market conditions using the demo account. Furthermore, users can easily switch to live trading after they become familiar with a demo account.

Prospective clients must provide the following information to open an account with Plus500 US:

  • Name, date of birth
  • Country of residence, residential address
  • Social security number, phone number
  • Employment status
  • Financial details (annual income, net worth, source of funds)
  • Level of trading experience

In addition, the minimum deposit is $100.

Plus500 US offers a deposit bonus of up to $200, allowing you to trade without paying commissions until the deposit amount is used. The bonus only applies to your first deposit. When the deposit is completed, the respective bonus amount will be added to your trading account, and you can see it at the top of the platform and on your Funds Management screen.

Plus500 Platform Highlights:

  • Cutting-edge platform available across web
  • Feature-rich app and unlimited demo account
  • Wide range of futures markets
  • Standard, Mini and Micro contracts
  • Competitive commissions
  • Strong educational resources
  • Low intraday margins
  • 24/7 support via live chat and email

There are several benefits to futures trading with Plus500, including:

  • Fees: Fees can apply on standard contract commission, micro contract commission, liquidation fee per contract and withdrawal wire transfer. However, Plus500 has no data fees, no platform fees, no inactivity fee, no routing fee and no deposit and withdrawal fees, aside from with wire withdrawals.
  • Deposit and Withdrawal Methods: Plus500 US does not charge any fees for making deposits and withdrawals.
  • Risk Management Tools: Plus500 US offers two risk managment tools; Take Profit and Close at Loss.
  • Spread: Plus500 offers the following spread options; initial margin, intraday margin, place order margin and SPAN margin.
  • Client Money Protection: With Plus500 US, all client funds are kept in segregated accounts to provide extra protection of funds.
  • Support: Plus500 US provides support via online chat and email (through a contact form). Plus note, support is only available in English.
  • Futures Academy: Plus500 offers a variety of educational products including eBook, video traders guide, and FAQs to ease trading for both beginner and experienced traders.

There are also several instruments included on futures trading with Plus500, including:

  • Agriculture: Nine Agriculture futures contracts.
  • Cryptocurrencies: Two cryptocurrency futures contracts. Cryptocurrencies, such as Bitcoin, are digital currencies secured by cryptography.
  • Metals: Plus500 US offers seven metals futures contracts
  • Commodities: 23 commodity futures contracts. Commodities are raw products, such as gold, oil, or soybeans. Plus500 US offers seven metals futures contracts, seven energy futures contracts, and nine agriculture futures contracts.
  • Forex: 13 forex futures contracts. The forex market is a global marketplace for exchanging national currencies.
  • Interest Rates: Four interest rate futures contracts. Interest rate futures are futures contracts with an underlying instrument that pays interest.
  • Energy: Seven energy futures contracts
  • Equity Indices: 10 equity index futures contracts. Equity indices measure the performance of a stock market, or of a subset of a stock market.

The leverage is different for each instrument,depending on the margin.

Please note that you can see information on the Plus500 Futures platform by accessing us.plus500.com using a US VPN.

Plus500 US is authorized by two top-tier regulators, NFA (ID number 0001398) and CFTC

Plus500 Broker Review
Plus500 Broker Review

Plus500 Features and Tools

The name of the Plus500 platform is WebTrader.

Currently, clients from over 50 countries use WebTrader since it offers an efficient online trading experience that is reliable and accessible from almost anywhere in the world on a wide range of devices.

WebTrader, as its name suggests, is powered through the web and is very easy to use, provided you have CFD trading knowledge.

Please note that although the platform is easy to use, this does not make trading simple. It still requires knowledge and experience. Beginners are always advised to start trading with the demo account.

Our Plus500 review research has revealed almost 150 technical indicators built into the Plus500 platform to enable investors to set up multiple watchlists.

Likewise, there are sophisticated analytical tools, all available from the same window.

Unlike many other online trading platforms, WebTrader does not include the popular MetaTrader 4 (MT4) facility, so it falls short somewhat on customization.

However, its layout and functionality are straightforward for those with experience to quickly grasp. The Plus500 platform makes light work of selecting from thousands of instruments and placing a trade within a couple of clicks.

Plus500 Account Types

There are three main types of Plus500 accounts, and these are:

Demo Account

If you want to conduct a Plus500 review yourself, opening a demo account is a great place to start. There’s no 30-day trial since it is unlimited in its time and the demo account balance can be configurated to the desired amount without contacting customer support and without clearing the account history.

This means that you can peruse the Plus500 platform at your leisure and take time to familiarize yourself with its features and the Plus500 fees.

In addition, Plus500 users are able to self-adjust their Demo account balance up to €40,000, or the equivalent in their trading account currency. This allows users to personalize their trading experience while using the Plus500 demo and better reflect their target volume of investments.

Users are also able to completely reset their demo account, including all history, so they can re-experience it over and over while executing different trading strategies.

Aside from transacting using virtual demo funds, the demo account works the same way as a live account.

Retail Account

The Plus500 retail account is the standard account that most investors use, and it is available in the UK, EU, Singapore, Australia and the global market.

Using this account, you can trade over 70 Plus500 CFDs on forex currency pairs and the full range of Plus500 instruments.

Professional Account

The Plus500 professional account shares many of the same features as the retail account, and more. However, you have to meet at least two out of the following criteria to qualify:

  • Have over €500,000 to invest
  • Can demonstrate recent high-volume trading
  • Evidence of your financial services experience

Setting up a live account is quite simple, but as you would expect, documentation is required in line with FCA rules.

To credit your account, accepted payment methods include credit and debit card, PayPal, Trustly, Apple Pay, Google Pay and bank transfer. Also, there are more payment options available based on location.

Other methods may be available too. Our best advice is to check the Plus500 website for an update.

Plus500 Commissions and Fees

In our Plus500 review, we can see that as a rule, Plus500 generates a profit by investor trades that cross the bid or ask spread.

Therefore, the Plus500 commission stands at zero since trading costs are restricted to the instrument's spread.

There are other Plus500 fees to consider, though.

The Plus500 platform charges fees on out-of-hours trades and positions held overnight.

In addition, there are Plus500 fees on Guaranteed Stop Loss Orders, otherwise known as GSLOs.

Similarly, Plus500 inactivity fees are applied after 12 weeks of an account being dormant. This will be up to $10 per month for the period that no login is made.

Unlike many other traders, there are no Plus500 ancillary fees (charges for withdrawals or account termination).

Plus500 will charge a currency conversion fee when trading instruments in a different currency to your home currency.

Plus500 Research and Education

The Trading Academy at Plus500 offers a variety of educational products including eBook, video traders guide, and FAQs to ease trading for both beginner and experienced traders.

Users are able to:

  • Read eBook
  • Watch educational videos
  • Explore FAQs

Additionally Plus500 offers weekly webinars that discuss market trends and technical analysis. The webinars host market analysts and experts courtesy of the Corellian Trading Academy.

Note: The webinars are available only for premium users.

Furthermore, Plus500 users can learn more about market trends based on the company's unique internal data on both desktop and mobile.

It works by allowing users to further enhance the exploration process by using the dedicated filter screen and search for local/global trends, focus on instrument types and select a time-frame.

Plus, the website is packed with lots of helpful information.

Pros of Plus500

There are quite a few plus points to using the Plus500 platform, and here’s our Plus500 review of the key benefits:

  • It has one of the most significant financial instruments that can be traded through a CFD service – over 2,800+ CFDs (shares, ETFs, crypto, forex, options, indexes, commodities), 2,700+ Shares, Futures.

  • Guaranteed stop loss orders protect those trading on the Plus500 platform from risks associated with market gaps in CFD trading. However, these are not available on all instruments. Plus, two other risk management tools: Close at Profit' Stop Limit or 'Close at Loss' Stop loss rates and Trailing Stop.

  • 24/7 customer support through a responsive online chat facility and on email and WhatsApp. Although there is no telephone number to reach customer services on, the issues ticket system appears to be prompt and responsive.

  • More than 13 chart types for expert traders to analyze the performance of their instruments with over 110 indicators showing the percentages at which other Plus500 platform traders are buying and selling instruments.

  • You can try out the platform with an unlimited demo account, which is quite unusual as far as online trading platforms go. It’s a great way to familiarize yourself with the platform without fear of the Plus500 inactivity fee.

  • No social copy trading. This is a plus point for experienced traders since they can be confident that no one else on the Plus500 platform is making a like-for-like copy of their trades.

Cons of Plus500

In our Plus500 review, there aren’t too many observable cons to the Plus500 platform. It does not hide the fact that it is a platform for more experienced traders.

However, that being said, there are still some downsides to be aware of:

  • With no API integrations, the Plus500 platform is not compatible with other third-party software applications that, as an experienced trader, you might already be using. This is quite a big negative for those reliant on MT4, compatible analytical tools and direct banking integrations.

  • You can only trade CFDs, so there’s not quite the same freedom as with other online trading platforms. Plus, CFDs come with the inherent risks of losing money quickly due to leverage.

The company openly states that:

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to Set Up an Account With Plus500

Setting up a Plus500 platform account is like setting up any online account and is easy to do. As long as you have the correct documents to hand, it should take a matter of minutes.

Once your account information has been submitted, it will be reviewed by a member of the Plus500 compliance team and will display as ‘under review’.

The entire process usually takes a maximum of two days but is often shorter.

There is a Plus500 minimum deposit to be aware of as follows:

  • €100 with credit/debit card
  • €100 by eWallet
  • €500 by bank transfer

As a note, all your account monies are held in protected accounts for transparency, and deposits and withdrawals are largely free.

The only exception to this rule is where your bank charges a fee, an unsupported currency base is deposited or you go over your agreed monthly operations. You will be alerted to this, though.

Frequently Asked Questions

Plus500 is a multi-asset broker that offers a wide range of financial instruments, including stocks, cryptocurrencies, commodities and forex. This includes Plus500CFD (Webtrader, iOS/Android), Plus500Invest and Plus500Futures.

The platform is user-friendly and offers a range of trading tools and resources to help traders make informed decisions.

Plus500 is regulated by several authorities, including the Financial Conduct Authority (FCA) in the UK, making it a reputable and secure option for traders.

To withdraw money from Plus500, users must log in to their account and navigate to the 'Withdrawal' section.

From there, they can choose their preferred withdrawal method and enter the amount they wish to withdraw.

The platform offers several withdrawal methods, including bank transfers, credit cards, Trustly, Apple Pay, Google Pay and e-wallets, and the time it takes for the withdrawal to be processed varies depending on the method chosen. Also, there are additional location-based payment methods.

To start trading on Plus500, users must first create an account on the platform and complete the registration process. Once their account is verified, users can make a deposit and begin trading.

The platform offers a range of financial instruments, and users can use the trading tools and resources provided by Plus500 to make informed decisions.

Plus500 makes money through the spread, which is the difference between the buy and sell prices of a financial instrument.

The spread varies depending on the asset being traded and market conditions, and Plus500 charges no additional commissions or fees for trading.

The platform also charges overnight funding fees for positions held overnight and other fees for certain services.

Plus500 is a reputable and secure trading platform that is regulated by several authorities, including the Financial Conduct Authority (FCA) in the UK.

The platform uses advanced security measures to protect user data and funds, and offers negative balance protection to ensure that users cannot lose more than their account balance.

The amount of money a user can make on Plus500 varies depending on several factors, including the financial instruments traded, market conditions and the user's trading strategy.

Trading involves risk, and users may lose money as well as make a profit.

Plus500 offers a range of trading tools and resources to help users make informed decisions and improve their trading skills.

To make money on Plus500, traders must correctly predict the direction of the price movement of a financial instrument and place a trade accordingly.

The profit or loss is determined by the difference between the buy and sell price of the instrument.

Plus500 offers a range of trading tools and resources to help traders make informed decisions and improve their trading skills, such as charting tools, technical indicators and market news.

Plus500 offers a wide range of financial instruments that can be traded on the platform, including stocks, cryptocurrencies, commodities and forex. Traders can choose from over 2,800+ CFDs (shares, ETFs, crypto, forex, options, indexes, commodities), 2700+ Shares, Futures.

Plus500 charges no additional commissions or fees for trading, and the cost of trading is included in the spread. However, the platform does charge overnight funding fees for positions held overnight and other fees for certain services.

The maximum trade size on Plus500 varies depending on the financial instrument being traded and market conditions.

Plus500 provides information on the maximum trade size for each instrument on its platform.

Yes, Plus500 is a regulated trading platform that is authorized and regulated by several authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). Plus, MAS, FSA, EFSA and DFSA.

Plus500 offers a range of educational resources to help traders improve their trading skills and knowledge.

These resources include webinars, video tutorials and an economic calendar that provides information on upcoming events that may impact the markets.

The platform also offers a Trading Academy which provides various educational products including eBook, video traders guide, and FAQs to ease trading for both beginner and experienced traders.

Final Thoughts

As with all brokerages, especially online trading platforms, you must be aware of the risks in trading and do your research.

There’s no replacement for spending sufficient time discovering what other people have to say about the Plus500 platform.

Take Plus500 up on its offer of a demo account and spend time familiarizing yourself with the platform first. That way, when you go live, you will have already observed markets and perfected how you plan to use Plus500 to your advantage.

WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


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