Introduction

The Plus500 platform was created in 2008. It is one of the leading CFDs trading platforms. It works with the following financial instruments: forex, ETFs, stocks, commodities, and stock indices. Plus500 brand rights and all management functions are concentrated in the hands of Plus500 Ltd, which is listed on the primary market of the London Stock Exchange. 

The broker notes the clientele resides in over 50 countries worldwide and trades CFDs on 1000+ instruments with meager fixed and variable spreads starting from 0.6 pips and leverage of up to 1:300. 

The broker also alleges to fuel the trading process with 24/7 multilingual customer support and curbs its customers from major losses by providing negative balance protection and segregating the clients’ funds from its capital.

How to start trading with a Plus500 broker?

How to start trading with a Plus500 broker?

Each client can create a personal account on the platform. The procedure does not take much time. The main thing is to follow a specific sequence.

Step 1. Log in to the company’s official website. 

Step 2. Press the Login button and select the Real money item. 

Step 3. Fill in the fields by entering your email address and a password you have created. You can use your social media account another registration method: Facebook or Google. 

Step 4. You will receive a confirmation code on your mobile phone number or email for the account activation. 

Step 5. To avoid problems with account replenishing and withdrawing funds, the trader must verify by providing a scanned copy of the passport or a photo to the company’s support service. 

Customer support at the Plus500 broker

Broker’s website is available in 31 languages. Moreover, its FAQs are enriched with a lot of information for the broker.

Customer support at the Plus500 broker

Another form of contact with the broker is the contact form. If any FAQ information is not satisfied, you can easily send them a detailed message using the contact form.

However, the best way is to use the live chat function available 24/7. The live chat of Plus 500 is efficient and helpful.

Year of foundation

Plus500 is part of the Plus500 Group, founded in 2008 and launched a PC-based online trading platform shortly after its inception, and in 2009 the broker offered commission-free stock CFDs. 

Users were able to trade online as early as 2010 when the broker launched a web version of the trading platform that provided access to Mac users with Linux software and various smartphone users. 

Already in 2012, the broker became the best CFD trading company globally, and by 2014, Plus500 Ltd. reached $ 1,000,000,000. 

Regulation

The broker operates following a number of the strictest guidelines and requirements imposed by regulatory organizations. The company is authorized and regulated by several of these organizations in the respective countries in which it offers CFDs and various other underlying securities. 

The broker is authorized and regulated by the following entities based on location: 

  • Plus500UK Ltd. — Financial Supervision Department, license No. 509909 Plus500CY Ltd. – Cyprus Securities and Exchange Commission, license no. 250/14 
  • Plus500SG Pte Ltd. — Monetary Authority of Singapore, license no. MS1006481-1 and Singapore International Business, license no . PLUS / CBL / 2018 Plus500AU Pty Ltd (ACN 153301681) 
  • In Australia — Australian Securities and Investments Commission and Australian Financial Conduct Authority, license No. 417727 
  • In New Zealand — Financial Market Authority license No. FSP486026 
  • In South Africa — AFSP Financial Information Service license No. 47546 

Regulated brokers like Plus500 must keep client funds in segregated accounts as part of strict requirements to ensure compliance. Regulated brokers must also ensure that clients offer negative balance protection to ensure that any losses incurred do not exceed the trader’s initial deposit. 

In addition, regulated brokers must be part of a reputable compensation scheme that ensures that eligible clients are paid a specified amount in compensation if the broker becomes insolvent or is declared bankrupt. 

Broker’s awards

Broker’s awards

In 2011, Plus500’s shopping app received the highest rating on the Apple Store, and while the website does not reveal any awards Plus500 may have received in its tenure, the company is highly acclaimed and recognized worldwide. 

The broker sponsored Atlético de Madrid as La Liga champions from 2013 to 2014 and the Champions League finalists from 2016 to 2018. There was also a major sponsorship deal that Plus500 Group signed with Plus500 Brumbies during the 2017 Australian Super Rugby Championships, which has been pushed back to 2019. 

Key broker features

The broker does not take any charge or commission on trading. As per our findings, this platform provides a low-cost trading service for all traders.

Other information regarding fees and commissions:

  • 0 fees on deposits
  • 0 fees on withdrawals
  • 0 fees on rolling positions
  • 0 fees for position extension
Plus500 - fees and commissions

In trading, the broker takes charges as a spread only. The average spread in the EUR/USD starts from 0.8 pips, which is very low compared to the industry average. 

Besides, the broker does not take any charge on deposit or withdrawal. However, it charges an inactivity fee of $10 per month if you keep your account unused for more than three months.

Fees

The broker does not charge any separate or additional commissions per trade. These commissions are included in the spreads through which Plus500 is compensated for its services. By using the buy/sell spread, otherwise known as the bid/ask spread, when a trader opens a position, they essentially pay the spread, which is included in the quoted rates provided by the broker. 

Traders should be aware that the broker has additional fees that include: 

  • Overnight financing

It is deducted from the trader’s account if the position is held for more than one day or otherwise specified depending on the financial instrument and when the trading day ends.

  • Currency conversion commission

This commission is charged for all transactions that are made with instruments and are expressed in currency if the base currency of the account differs from the currency of the instrument.

  • Inactivity fee

If a trader’s account is inactive for three consecutive months, a $10 fee will be deducted and charged every month until the activity is visible on the account. 

Non-trading commissions

The broker has the following non-trading fees: 

  • A minimum initial deposit of $100 when using a debit/credit card and $500 when using bank transfers.
  • A withdrawal fee of $10 for each withdrawal of funds after exceeding the limit for the first five free withdrawals per month.
  • A withdrawal fee of $10 if the withdrawal amount is less than the minimum amount of $100.
  • If a bank transfer is used to withdraw funds, the trader will be charged a flat fee of $6.
  • Traders will be charged $10 if their trading account is inactive for three consecutive months, in addition to $10 per month if there are few logins and low trading activity on the account. 

Market coverage

Plus500 provides trading opportunities in indices, forex, commodities, crypto, shares, options, and ETFs. Therefore, the company has a strong position based on the availability of instruments and diversification opportunities.

Plus500 - instruments

Forex

Plus500 - Forex
  • The broker offers more than 70 trading instruments from forex majors, minors, cross, and exotics
  • You can trade with zero commission in all trading instruments

Commodities

Plus500 Commodities
  • Trading opportunities in commodity CFDs like gold, oil, and silver
  • Provides the ability of free demo testing
  • Available leverage is a maximum of 1:500

Indices

Plus500 - Indices
  • The broker provides trading opportunities in S&P 500, NASDAQ 100, FR 40, etc.
  • Ability to trade with leverage up to 1:300

Shares

Plus500 - Shares
  • Plus500 offers trading in most of the significant shares in the US, UK, and other markets
  • You can trade with world-famous companies like Facebook, Apple, Microsoft, etc.

Options

Plus500 - Options
  • There are very few brokers that offer the forex and options trading together, and Plus500 is one of them
  • It provides options trading with 1:5 leverage

ETFs

Plus500 - ETFs
  • The broker offers ETFs like VXX volatility and SPDRUSA500 
  • Available leverage is 1:100

Crypto

  • Provides opportunity of trading crypto with leverage
  • 24/7 trading opportunity
  • Available assets: BTC, ETH, BCH, ADA, etc.

Trading platforms

Plus500 - Trading platforms

Unlike several other brokers offering different trading platforms, Plus500 has its trading platform available to traders to use.

The trading platform is safe and user-friendly, but one of the drawbacks is that it cannot be customized. This can create some problems for traders who rely on the customization provided by trading platforms to perform preliminary and detailed technical analyses.

The Plus500 trading platform can be accessed either via the web, via Plus500’s Web Trader, or it can be used on mobile devices. Unfortunately, there is no desktop version of this trading platform.

  • It is multilingual (up to 31 languages)
  • Order types such as market, limit, stop, and trailing stop can be used
  • Safe entrance
  • Advanced search functions
  • Notification system by email, SMS, or push notifications
  • Transparent portfolio and commission reports

Regardless of the web browser, a trader may be using, Web Trader is compatible with everyone. Mobile devices that support the trading platform app include iOS, Android, and Windows Phone. 

Risk management tools

Plus500 allows you to open new positions using stop limits and orders. Therefore, traders can take new positions from a specific price and level.

Moreover, you can close your trades using the loss order after giving a certain amount of loss. On the other hand, you can lock your profits after moving to a considerable level using the profit order.

The broker provides a guaranteed stop order where if the trade moves against your direction, it will be closed without any slippage.

Trading accounts

Most forex brokers provide multiple account types to catch all kinds of traders, while the broker is stuck to two account types. Investors can test the trading platform and environment through the demo account.

Plus500 - Trading accounts

To get the trading service from Plus500, investors should invest a minimum of $100 in their accounts. Here 100 is the currency unit, depending on the country you live in a while opening the trading account. For example, if you live in the UK, you have to deposit GBP 100, while for Eurozone citizens, you have to pay €100.

Plus500 retail account

It offers trading in 70 currency pairs, shares, options, commodities, ETFs, and the eight most cryptocurrency pairs. 

  • Minimum deposit: 100 local currency
  • Trading model: CFDs
  • Lot size: 1 lot= 100,000 units
  • Execution type: market
  • Spread: variable
  • Negative balance protection: yes
  • The leverage depends on the regulation and starts from 1:30 to 1:300.

Plus500 professional account

A Plus500 professional account is often known as a Plus500 Gold account. It has the same feature as the Retail account, with some exceptions. 

  • High trading activity in last year
  • Invest €500,000 or more
  • Strong experience 

If you want to downgrade your status from a professional account to a retail account, you can do it by consulting with customer support. 

What else should you know about Plus500?

The broker caters to novice traders as well as more advanced traders. With the added benefit of discounts and trader points, the company can encourage many traders to trade higher volumes per month to take advantage of these benefits. In addition to the lack of customization, the limited tools available can be a problem for traders who require detailed and advanced technical analysis and can also limit the ways to test their trading strategies. 

Plus500 review summary

It is a highly rated broker that offers traders the opportunity to trade various financial instruments spread across different asset classes. Trading costs are relatively low, but non-trading costs are pretty high compared to other brokers. The spreads provided are pretty tight. Traders have access to leveraged capital of up to 1: 300 depending on the trader’s country of origin and the regulator, in addition to zero commissions charged per trade. This makes Plus500’s offer even more attractive and suitable for novice traders and professionals. 

The only drawback is that only one standard account is offered. Another disadvantage is that Plus500 only offers its trading platform, and while it is pretty user-friendly and affordable, it cannot be customized, and its charting options are limited. 

Plus rating

4.0/5