Plus500 review and test – Is it a good choice for a broker?
Table of Contents
REVIEW: | REGULATION: | MIN. DEPOSIT: | ASSETS: | SPREADS: |
|---|---|---|---|---|
 (4.9 / 5) | CySEC, ASIC, MAS, FSA, FCA, FI, | $ 100 | 2,800+ CFDs | Variable according to market spread |
Is Plus500 a reliable and trusted CFD Broker? – Find out the truth on this page. With more than ten years of experience in the trading industry, we have tested this company for you, and we will share our experience report on the following page. You will find all the conditions for traders and a detailed trading tutorial.
Risk warning: 82% of retail CFD accounts lose money. You should consider whether you can afford to take the high risk of losing your money.
What is Plus500? – The broker presented:
Plus500 is a global CFD broker that gives traders from around the world access to over 2,000 different markets. Under the Plus500 LTD, other subsidiaries operate with different licenses and regulations. Most traders are regulated by the CySEC (#250/14) entity. The main company is Plus500 LTD, which is headquartered in Israel Haifa and is also listed on the main market of the London Stock Exchange.
See our full video review:
Since 2008, currencies, cryptocurrencies, indices, stocks, ETFs, and options can be traded in the form of CFDs. The broker is the distributor of the CFDs and is paid by the spread. The company stands for a clear vision because the broker wants to offer the latest technology in CFDs. Innovation is the top priority and is also reflected in the professional trading platform. In addition, the company is a sponsor of various football clubs. All in all, the company makes a good first impression on us because its appearance inspires trust and expertise.
Facts about Plus500:
⭐ Rating: | 4.9 / 5 |
🏛 Founded: | 2008 |
💻 Trading platforms: | Web platform |
💰 Minimum deposit: | $100 |
💱 Account currencies: | USD, GBP, EUR, CHF, AUD, JPY, PLN, CZK, CAD, HUF, TRY, SEK, NOK, SGD |
💸 Withdrawal limit: | No |
📉 Minimum trade amount: | $1,000 trading amount / 0.01 lot |
⌨️ Demo account: | $50,000 limit |
🕌 Islamic account: | Yes |
🎁 Bonus: | Not available |
📊 Assets: | Crypto, Indices, Forex, Commodities, Shares, Options |
💳 Payment methods: | Credit Card, Skrill, PayPal, Skrill, Sofort |
🧮 Fees: | Starting at 0.03 pip spread / variable commissions and overnight fees |
📞 Support: | 24 / 7 live chat, e-mail, and WhatsApp support |
🌎 Languages: | Website and support available in 8 languages |
Risk warning: 82% of retail CFD accounts lose money.
Is Plus500 regulated? – Security of customer funds
Regulation is very important in online trading because it creates trust and gives the trader a high level of security. Special criteria and conditions have to be fulfilled in order for a CFD Broker to receive a corresponding license from a state supervisory authority. A violation of the regulation would mean an immediate loss of the license. Fraud can, therefore, be virtually ruled out with regulated brokers.
Since Plus500 LTD owns several subsidiaries, there are different regulations here. One can summarize that the company is regulated in many countries around the world. All client funds are held in a segregated client bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC (#250/14)) client funds rules. Here is an overview of all the regulations the broker has:
- Seychelles Financial Services Authority (FSA)
- Financial Conduct Authority (FCA)
- Cyprus Securities and Exchange Commission (CySEC)
- Australian Securities and Investments Commission (ASIC)
- Estonian Financial Supervision and Resolution Authority (FI)
- Monetary Authority of Singapore (MAS)
- Dubai Financial Services Authority (DFSA)
In addition, Plus500’s customer deposits are very well managed. Plus500 LTD keeps funds separate from company funds, and the broker has no corporate or sovereign debt. The company does not invest the client’s money and does not pass the client’s money through to hedging counterparties. In summary, Plus500 is a very secure broker, according to the first company data, where fraud can be excluded.
Facts of the security of customer funds:
- Multi-regulated CFD Broker
- European customers trading with CySEC (#250/14 license)
- Customers from the United Kingdom trading with an FCA license
- Customer funds are stored separately from corporate funds
- The company has no debts and high liquidity for trades
- Multiple regulations for entering customers in almost each country
Risk warning: 82% of retail CFD accounts lose money.
What are the pros and cons of Plus500?
Plus500 is a well-known trading platform with more than 24 million customers worldwide trading with a Plus500 group trading account. We tested the platform in-depth and compared it to other brokers as well. Here are our pros and cons of Plus500.
Pros of Plus500 | Cons of Plus500 |
✔ Highly regulated broker | ✘Higher minimum trade size than other brokers |
✔ Large selection of more than 2,800 assets | ✘ The app isn’t working reliably at times |
✔ Very affordable spread | ✘ Popular trading platforms like MetaTrader 4 aren’t available |
✔ 24 / 7 customer service from | |
✔ Guaranteed stop-loss feature | |
✔ Huge selection of markets | |
✔ PayPal accepted as payment method |
Review of the conditions for traders – What does the CFD Broker offer?
At Plus500, you can trade CFDs on over 2,000 different markets. These include currencies (Forex), stocks, stock indices, ETFs, commodities, cryptocurrencies, and options for different assets. The CFD broker offers a very wide range of differentiated markets and is constantly trying to expand its portfolio. Stocks are tradable from more than 23 different countries, and the latest cannabis stocks are also available.
The leverage under a European and Australian license is up to a maximum of 1:30. The leverage for professional traders is 1:300, but the higher the leverage, the greater the risks. Traders who opt for a Professional Account could not have ICF rights and lose access to the Financial Ombudsman Service (FOS). In this way, the ESMA restriction can not be circumvented. CFDs are offered at a variable spread and depend on the trading instrument. They are constantly adjusted according to the market spread (for example, see the picture below). This is a rather low value and clearly better than the competition. The platform is open 24/7, and some markets can also be traded on weekends.
In addition, we notice that Plus500 offers a guaranteed stop loss. This is very rare with other providers. Thus better risk management is possible because positions are executed to 100% on your desired price. The CFD Broker makes a very good impression on me through his trading conditions. The selection of markets is very high, and the trading fees are very low. Here Plus500 can collect further plus points.
Facts of the conditions for traders:
- Tight spreads (for example,, OIL with 0.03 points – the spread was measured on 07.07.2022, 9:33 a.m. on the Plus500 platform)
- Maximum leverage 1:30 for European and Australian traders
- Maximum leverage 1:300 professional traders (Traders who opt for a Professional Account could not have ICF rights and lose access to the Financial Ombudsman Service (FOS).)
- More than 2,800 markets
- The minimum deposit is $100
- Free demo account
- Trade CFDs on stocks, cryptocurrencies, ETFs, commodities, options
- Guaranteed stop loss is possible
How good is the usability of Plus500?
How reliable and customer-friendly to use is the platform? Is a mobile app available? How customized is it for trading novices to understand and navigate the platform? These are questions we investigate and rate in this section, as it is one of the most important aspects of choosing a trading platform, in our opinion.
Criteria | Rating |
General Website Design and Setup | ★★★★ Structure of the site is pretty good and fast to navigate, some pieces of information are harder to find |
Sign-up Process | ★★★★★ One of the fastest sign-up processes for a demo account. The live account got approval within 60 minutes. |
Usability of trading area | ★★★★ Trading platform offers everything you possibly need but comes with a learning curve for new traders |
Usability of mobile app | ★★★ App is available for all devices but isn’t always working reliably, which can lead to some potential issues |
Risk warning: 82% of retail CFD accounts lose money.
How good is the Plus500 trading platform? Ultimate test
What can the Plus500 trading platform offer a trader? – In the next section, we’ll look at them together. The trading platform was developed independently by the broker and is available for every device. You can also use the clever app to control your portfolio from the comfort of your own home.
The trading platform is good to understand because it has a professional and clear design. But CFDs are complex financial products. On the other side, professional traders should be familiar with the platform after a few minutes of getting used to it. Beginners can learn to trade in regards to the free unlimited demo account. There are also many flexible elements that can be adapted to the trader’s trading style. Plus500 stands for transparency of fees and trading. These are also clear in the trading platform. All trading fees are obviously displayed. Market prices are displayed very clearly so that the trader is able to choose what is suitable for him.
Facts of the trading platform:
- Very clear design
- User-friendly
- Suitable for experienced traders
- Transparent trading
- Available for any device
- Learn and gain experiences with the free demo account
Risk warning: 82% of retail CFD accounts lose money.
Professional charting and analysis are possible on Plus500
Chart analysis and technical analysis are very popular with traders. But for successful analysis, you need certain tools. Can Plus500 provide them? – The trading platform even offers more than seven different chart representations, which facilitate analysis. In my opinion, the well-known candlesticks are suitable for a very professional analysis.
Furthermore, over 40 different technical indicators are available on the platform. These can be inserted variably and adapted independently. Drawing tools are also available for technical analysis. If, for example, you have decided on a certain strategy with indicators, you can also save the settings in a template and duplicate them as required.
In our experience, the charting of the platform works very well since the chart is displayed very clearly. There are no annoying disconnects or other errors, so a successful analysis can be carried out at any time. For the analysis, you can also observe the opinions of other traders. Plus500 offers a very professional trading platform with a range of settings for each trading style.
Facts of the charting and analysis:
- More than seven different chart settings
- More than 40 different indicators
- Technical drawing tools
- Clear charting without disconnections
How to trade on Plus500? – Step-by-step trading tutorial
In the following step-by-step guide, we would like to give you an overview of the classic trade execution. As already mentioned above, beginners should use the free demo account first to get a good overview of the platform. A free demo account with virtual credit is available. CFDs are complex financial products, so you need to be careful what you are doing.
1. Choose your market to trade
On the left side, you can choose the different markets of Plus500. Among the asset classes are equities, options, commodities, cryptocurrencies, foreign exchange, and ETFs. The broker automatically filters out the most popular assets for you. In addition, you can set many different filters to search the market yourself.
2. Do the chart analysis on the platform
You can analyze the chart history of assets in the Plus500 software. The price chart can be set in various time units. In addition, popular indicators can be used, such as the RSI oscillator. This has already been explained under “Charting and Analysis”.
3. Buy or sell the asset directly on the platform
At Plus500, you place orders on either rising or falling prices with CFDs. Short selling is possible in any market. The advantage of CFDs is that there are low fees and no expiration time. With one click, you can buy and sell.
How to trade:
- Choose your investment amount (Attention: leveraged trading)
- Fast buying and selling
- Do risk management through the stop loss and take profit limit
- Close your position with a loss or profit
Risk warning: 82% of retail CFD accounts lose money.
Mobile trading for any device (App)
Mobile trading is very important for every trader these days. Many traders also want to manage their own portfolios from their mobile phones. Plus500 offers an app for iOS and Android. This allows you to react very quickly to political events or fundamental news. The app has a similar design to the trading platform for the computer. Here, too, the chart can be adapted to the trader’s trading style. Even the latest news can be received via the app. In summary, the app rounds off the broker’s portfolio, and Plus500 offer everything a trader needs.
How to open your account?
Plus500 guarantees a fast opening of the depot. With your email and password, you can open your account in a few seconds. Before making the first deposit, however, the broker will need further information from you (example picture below). The advantage is that Plus500 offers the trader an accurate step-by-step guide. So no mistakes can happen.
The account must be verified with certain documents. This is required by strict regulations. To do this, upload a picture of your ID and proof of residence so that you can enjoy all the functions of the trading platform. The complete opening of the depot only takes a few minutes. Verification is also completed very quickly. If you have any questions, the live chat is ready to help you.
Risk warning: 82% of retail CFD accounts lose money.
Free and unlimited Plus500 demo account
Plus500 also offers a free and unlimited demo account for every trader. This is a virtual credit account that simulates real money trading. The trader thus trades without risk. So you can test the trading platform extensively and gain new experiences. The account is also suitable for getting to know strategies and new markets.
The virtual account is filled with $ 50,000 or € 40,000 “play money”. With just one click, you can switch between the demo account and the real money account on the trading platform. So you don’t need two different accounts. This is a big advantage compared to other providers.
Innovative CFD Broker
On a positive note, Plus500 is trying to integrate new markets into the trading platform. For example, there are currently more than ten different cryptocurrency assets available for trading. The company is very innovative in this area. In summary, the trader is always presented with the latest markets and technologies in the trading area. The new cannabis stocks have also been integrated into the trading platform. With these trend markets, it is possible to generate a high profit or loss due to the high volatility. Here, too, the advantage of CFDs comes into play because speculations on falling prices are possible without any problems.
Innovative broker:
- More than ten different cryptocurrencies
- Cannabis stocks
- Short selling is possible
- Leverage up to 1:2
- Plus500 is constantly expanding its product range
- Innovative and newest trading technology
Risk warning: 82% of retail CFD accounts lose money.
You can also view the latest market news. These are provided by Dow Jones. Messages are listed by importance, and the publication date is announced. As a trader, you can react to strong movements in the market.
How to deposit and withdraw with Plus500?
A further point in this experience and the test report is the deposit and withdrawal of customer funds. The minimum deposit at Plus500 is only 100$. The broker allows it to trade with small capital. Many different payment methods can be used. Among them are credit cards, electronic purses, and the classic way of bank transfer. A very big advantage of the broker is that PayPal is offered as a payment method.
The Plus500 payout also works smoothly. Make sure your account is fully verified. The withdrawal will be processed regularly in 1-3 days. The processing time in the table below indicates how long it usually takes for the funds to arrive in the account based on our personal experience. Please pay attention to all payment details. Otherwise, there can be considerable delays. Here is an overview of the typical processing withdrawal times for the different deposit methods.
Withdrawal Methods | Processing Time |
Skrill | 3-7 business days |
PayPal | 3-7 business days |
bank transfer | 5-7 business days |
Credit Card | Up to 14 days |
Facts about payment transactions:
- Minimum deposit 100$
- Use PayPal, bank wire, credit cards, debit cards, Skrill, and more methods
- Withdrawal within 1 – 3 days
- No hidden fees
Is there negative balance protection?
With Plus500, there is negative balance protection. Events in the past have shown that huge gaps in the capital markets have become very threatening. CFD Brokers improved their systems. In order to open a position on the platform, the initial and maintenance margin levels must be met.
For better risk management, you can use a guaranteed stop-loss which is available with this broker, to avoid risk.
Risk warning: 82% of retail CFD accounts lose money.
Review of the Plus500 fees
Plus500 may charge different types of fees. We have listed them transparently for you so you won’t experience any nasty surprises.
There are classic trading fees for trading. Each position has a spread (the difference between buying and selling prices). The spread depends on the market situation. In addition, a financing fee for positions (overnight) (interest rate swap) may apply. Since CFDs are leveraged products, the capital must be financed.
Facts of the fees:
- Spread on any opened trading position
- Interest SWAP fee for overnight positions
- 10$ fee because of inactivity after three months
- You see, the fees transparent on the platform
- Overnight funding
- Currency conversion
Note:
Plus500 is financed by the brokerage of Contracts for Difference (CFDs) to worldwide dealers. Compared to other providers, the broker is one of the leaders in terms of low fees.
In comparison with other providers, the fees, from my experience and test, are competitive and low. Especially with cryptocurrencies, Plus500 is very far ahead in comparison.
In general, the fees for stock exchange trading have been considerably reduced by the Internet. A few years ago, several euros were needed to open a position. Nowadays, you pay only a few cents or a small percentage of the position size.
➔ Read our full article about the Plus500 fees
How does this broker make money from you?
On the Plus500 website, you will find some information on how they make money, they are very transparent about it. Like most reputable brokers, revenue from the added spread on every trade. Overnight fees and additional expenses, like the discussed in the section above are additional income sources for the broker.
24/7 support and service for Plus500 traders
Plus500 offers full round-the-clock support. The service is available 24 hours a day via email or chat. Unfortunately, there is no telephone support with this broker, so there is a small reduction in the overall rating. Several tests have shown that the support is very fast and competent. In addition, a sufficient FAQ is offered on the website. All questions should be answered there. Those who have further questions can write best to live support. This answers via chat in a few seconds.
Experience shows that Plus500 support offers very good help for the correct operation of the trading platform. Unfortunately, there is no additional service like webinars or coaching. All in all, the support is very reliable and competent.
Facts of the support:
- 24/7 support for traders
- Different languages
- Chat, WhatsApp, and Email support
- Huge FAQ section
Risk warning: 82% of retail CFD accounts lose money.
What are the best alternatives?
Capital.com
Capital.com is a trusted Forex and CFD trader platform and was founded in 2016. The platform has more than 280,000 users from around the world thanks to its excellent reputation and beginner-friendly platform. Multiple authorities regulate the broker and, overall, a perfect choice, no matter if you are experienced with trading or just starting out. Read our detailed review of capital.com here.
RoboForex
Next on the list is RoboForex. With this broker, you can trade a wide variety of assets, and their main advantage is the low minimum deposit of just $10. Additionally, your funds are very safe as the IFSC Belize officially licenses the broker. Also, the broker is owned by a big company group with headquarters in Europe. Finally, Roboforex also offers many account types to choose from, which gives you a lot of flexibility. All of these make the broker one of the best Plus500 alternatives. Read our indepth RoboFores-review here.
XTB
XTB is currently among the best-known broker platforms in the world. XTB was founded back in 2006 in Poland and has seen steep growth ever since. More than 3,000 different assets in six asset categories are available to trade for you with this broker. But don’t just take our word; customers awarded XTB with multiple awards, and it is well known for its outstanding customer service. For example, every customer has access to dedicated 1 to 1 support for every client and a learning center with tons of resources.
Is Plus500 legit? – We think, Yes! – Conclusion of the review for new investors
Plus500 gets a clear recommendation from us on this page. It is a very large online broker with a huge range of trading opportunities. This is very interesting for experienced traders who want to invest with a lever in different markets. However, you have to make some small cuts in support because there is no contact person by phone.
From my experiences, one can act professionally with this offerer. You can use different payment methods and all fees are listed transparently. The platform, as a whole, makes a very user-friendly and flexible impression on me. Start yourself with a free demo account.
Is Plus500 serious or not? – We think the appearance of the company, which has been on the market since 2008, can be considered very serious. The group of companies has multiple regulations and is an official football sponsor.
Advantages of Plus500:
- Fully regulated CFD Broker
- Free demo account
- Innovative platform
- Huge range of markets
- No hidden fees
- Competitive spreads
- PayPal
- Support 24/7
Plus500 review
Summary
Plus500 is a secure trading platform with competitive spreads and no hidden fees.
Plus500 is a well-known brand and shows a professional CFD brokerage for many years. (4.9 / 5)
Trusted Broker Reviews
Risk warning: 82% of retail CFD accounts lose money.
Disclaimer for traders:
The information displayed herein about Plus500CY Ltd. and its services is merely generic and derived from publicly available reliable sources or received from Plus500CY Ltd. (entity authorized to operate in Spain through the passporting regime, reg no. 3848)
Last Updated on March 31, 2024 by Andre Witzel
