- Advanced risk management tools
- 24/7 online support.
- 2000+ instruments.
- 30+ languages.
- All devices.
- 0 commissions.
- Tight spreads.
- No phone support.
Plus500 is an online CFD broker that presently offers a wide range of Contracts for Difference or CFDs for its clients on over 2,000 underlying assets such as Forex, Options, Commodities, Cryptocurrencies(Availability subject to regulation). It is operated in Europe by Plus500CY Ltd., which has its base offices situated in Limassol, Cyprus and is regulated by the Cyprus Securities and Exchange Commission or CySEC under license number 250/14.
The exact address of the UK branch is Plus500UK Ltd, 8 Angel Court, Copthall Avenue | London EC2R 7HJ. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909)
The Australian Securities and Investments Commission or ASIC regulates its Oceanic subsidiary called Plus500AU Pty Ltd under registration number 417727. Plus500 Ltd is listed on the Main Market of the London Stock Exchange. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 does not presently accept clients based in the United States.
In addition to the mentioned jurisdictions, Plus500 is licensed and regulated in New Zealand, South Africa and Singapore as well.
The operator possesses license #486026, issued by New Zealand’s FMA. In South Africa, the authority that has licensed the brokerage is the FSCA. Its South African license number is 47546.
The company representing the Plus500 brand in Singapore is Plus500SG Pte Ltd. It is licensed by the Monetary Authority of Singapore to deal in capital markets products. Its license number is CMS100648-1.
The official website of Plus500 is located at www.plus500.com and a screenshot of its home page is shown below:
Plus500 has a very simple trading account structure. Traders can either open a standard live trading account or a free and unlimited demo account. A live standard trading account requires a $100 minimum initial deposit.
Traders in the EU will be relieved that they cannot lose more money than they have deposited in their Plus500 trading accounts, and the company may also make margin calls when a trader’s account equity falls below the maintenance margin amount. All client money is held in segregated client bank accounts in accordance with the Financial Conduct Authority’s client money rules.
The company offers an especially wide variety of trading instruments, including CFDs on forex currency pairs, commodities on thousands of different underlying assets. Put and call options on stocks and indexes are also available.
Leverage at Plus500 is 1:30.
In terms of its support features, the company offers e-mail, live chat and WhatsApp support around the clock 24/7 to its clients in most regions. The company is able to do business with and support clients in over 50 countries and more than 16 languages.
Deposits and Withdrawals
Making a deposit to a Plus500 account is quite simple. Clients need to enter the company’s trading platform, click on the “Funds Management” button and choose “Deposits”. They then need to select a payment method, fill in the blanks, and click “Submit”.
Live accounts opened with Plus500 can be quickly funded using credit cards like Visa, MasterCard. The company also allows deposits from popular electronic wallet payment systems like Skrill (formerly known as MoneyBookers) and Paypal, as well as via a bank wire transfer.
Each type of deposit method has a minimum and maximum deposit requirement and a typical delivery time frame. Wire transfer deposits can take as many as five days to be reflected in a trading account.
Withdrawals are also performed from the trading platform. Traders just need to click the “Funds Management” button, choose “Withdrawal”, select a method of making the withdrawal, fill in blanks, and click “Submit”. The “Funds Management” screen can be accessed on mobile devices by clicking on the Menu button.
Platform & Tools
|Desktop Platform (Windows)|
|Desktop Platform (Mac)|
|Social Trading / Copy Trading|
|MetaTrader 4 (MT4)|
|MetaTrader 5 (MT5)|
|Charting - Drawing Tools(Total)|
|Charting - Indicators / Studies (Total)|
|Order Type - Trailing Stop|
The trading platforms offered by Plus500 are very simple to operate and seem especially suitable for those interested in dealing in multiple markets. From a single screen, traders can obtain quotes in real time for any of these asset markets and can execute transactions as well.
The Plus500 platform is available in a desktop version called Windows Trader and a web-based version called Web-Trader. In addition, a popular mobile version of the Plus500 platform is available that works on Apple devices like the iPhone, iPad, iPod Touch and Apple Watch. Plus500 apps also exist for mobile devices using the Android and Windows Phone operating systems.
The screenshot shown below displays the functionality of the Plus500 CFD trading platform, which includes trade execution, market pricing overview, a basic chart, position and account balance reports. The platform also has fund management capabilities, which give traders the ability to make deposits and withdrawals from their trading account.
In addition to being able to watch various markets and execute trades, Plus500’s platform lets traders easily review past transactions and keep track of current positions. The software also includes a rather basic charting facility with multiple time periods available. Unfortunately, only one chart can be displayed at a time since the system does not support the simultaneous display of multiple charts.
In addition to the functionality provided by different versions of the Plus500 trading platform, the broker has made a few extra tools available to its clients.
One such tool is the Economic Calendar. The broker also offers a Trade Alerts service, as well as a Trader’s Guide.
Several tools are available for risk management. Plus500 supports Guaranteed Stops and Trailing Stops, as well as Close at Profit and Close at Loss rates. These tools and their peculiarities are thoroughly explained at the broker’s website.
Plus500 supports a staggering array of tradable assets. From CFDs on Indices and Cryptocurrencies(Availability subject to regulation) to Options, ETFs, Shares, Commodities and Forex, its selection is quite possibly the best in the industry.
Every one of the above categories contains scores of tradable assets. The crypto section for instance does not settle for various crypto/fiat pairs. It also features at least one crypto/crypto pair (ETH/BTC), and a crypto index: the Crypto 10 Index. This index tracks the performance of the top 10 cryptocurrencies, giving traders the ability to speculate on the performance of the sector as a whole. Availability subject to regulations.
Index-wise, the site defines a couple of different taxonomies: by country and by sector. In total, close to 50 indices can be traded.
The Forex category consists of around 100 major, minor and exotic currency pairs.
Commodities are plentiful as well. Besides the usual ones, such as oil, gas and precious metals, the broker supports various agricultural commodities, such as feeder cattle. In addition to just listing the mentioned assets, the broker offers detailed information on each one, together with trader sentiment updated in real time.
Literally hundreds of shares are supported, with some exotics among them, such as cannabis shares. The same goes for options and ETFs.
Needless to say, most of the mentioned assets are traded via CFDs. Traders will not be able to buy and hold commodities and cryptocurrencies through the broker.
Commission & Fees
Plus500 runs a transparent fees/commissions model. It does not charge anything for withdrawals and deposits, charts and graphs, real time FX quotes, actual trading, CFD pricing, position rolling, etc.
The expenses traders incur are due to:
- Spreads. These can be fixed or floating. They are displayed separately for every tradable instrument.
- Overnight funding.
- Guaranteed stop orders. These orders are usually subject to wider spreads, due to the guarantees they present.
- Inactivity fees. Traders who fail to log into their trading accounts for three months, will pay an inactivity fee of $10 per month.
Research & Education
|Daily Market Commentary|
|Trading Central (Recognia)|
|Social Sentiment - Currency Pairs|
|Client Webinars (Archived)|
|Videos - Beginner Trading Videos|
|Calendar Includes Forexcasts|
|Economic News Sentiment|
|Trade Ideas - Backtesting|
The education offered by Plus500 seems to be limited to the mentioned Traders’ Guide. This section of the official site is host to a series of videos on trading, covering the basics. CFD trading is discussed, together with slippage. A separate video acts as a platform tutorial.
As of 2019, there seem to be only three such videos available, which is too little by every measure.
Plus500 makes its customer support service available 24 hours per day and 7 days a week. Unfortunately, traders can only use e-mail and live chat to contact Plus500’s support staff and not telephone. This situation can be very problematic if a client’s Internet goes down and they need to close a position quickly over the phone.
A potential benefit of dealing with Plus500 is that their customer support, website and platforms are available in numerous languages. This can be a great feature for those who are not native English speakers.
The company does not seem to provide any educational materials or market commentary for traders, although it does have an online support section on its website devoted to answering frequently asked questions about its services.
|Charting - Draw Trend Lines|
|Charting - Can Turn Horizontally|
|Charting - Technical Studies/Indicators|
|Watchlist - Syncing|
|Trading - Forex|
|Trading - CFDs|
|Alerts - Basic Fields|
The Android and iOS apps offered by the broker are available for download directly through Google Play and the App Store. There is a Windows Phone application available as well.
The iOS and Android apps have earned ratings of 4-4.2 out of 5 on the two platforms. They all offer excellent charting, time frames and access to most of the asset classes supported by the broker.
Plus500 offers a very extensive broking service that allows clients to trade CFDs on currencies, commodities, equities, options and ETFs. Their easy to use trading platform makes it possible to trade multiple assets from, and it has desktop, web and mobile versions.
Those who want to deal in a variety of asset classes using a simple trading platform might find Plus500 suitable for their needs. Nevertheless, this broker’s lack of phone support and educational materials might be negatives, especially for novice traders. Its trading platform’s inability to display multiple charts at once may be another negative for technical traders.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer for day traders: At Plus500, scalping is defined as “A trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.” If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.
Yes, Plus500 is a legitimate online trading operation. Some of the broker’s past/current customers may not agree with this statement. That does not alter the fact, however, that Plus500 delivers what it promises to deliver. It gives traders access to a range of tradable assets, it settles trades and it puts trading platforms at its clients’ disposal.
What’s more, the operation is reputable among its peers. According to its official site, it is a UK FTSE 250 company. Also, it is regulated.
Plus500 uses segregated bank accounts for client funds and it currently has more than 200,000 active customers. It has thus far turned around more than 1,310 billion dollars in traded value.
This is where casting a definitive verdict is difficult. Some of its clients appreciate its services as well. Others dislike it. Some will go as far as to call the broker a scammer.
Here is what users like about Plus500.
• There is a Demo account.
• Quick withdrawals.
Complainers have pointed out issues such as:
• System errors that result in the arbitrary closing of positions.
• Losses incurred through the fault of the broker.
• Unwillingness to assist with problems.
• Less than ideal support.
• Denied withdrawals.
Though relevant, user feedback is notoriously unreliable and often emotion-driven. Please bear that in mind when considering the above.
Plus500’s minimum deposit depends on the deposit method one uses. The official site of the broker is reluctant to offer clear information in this regard.
Through some deposit methods, the minimum requirement is $100. Through certain methods, it can be as high as $500, however.
Yes. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909)
The licensing authority behind the operation is FCA. The license number of the broker is 509909.
Theoretically, this type of regulation means that Plus500 is MiFID-compliant. As such, it can legally peddle its CFDs all over the European Economic Area, except for countries that have forbidden this activity by law.
As mentioned, Plus500 is based in Israel. The exact address of the brokerage is Plus500UK Ltd, 8 Angel Court, Copthall Avenue | London EC2R 7HJ.