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Home / Broker / Plus 500 review

Review of PLUS 500 Broker

4.4/5

"76.4% of retail CFD accounts lose money"

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In September 2018 Plus500 became a component of the FTSE 250 index making it one of the most highly reputable online retail forex and CFD brokerages. Founded in 2008, and becoming publicly listed on the Main Market of the London Stock Exchange in 2018, its market capitalization has now surpassed a valuation of over $1 billion. Plus500 Ltd is headquartered in Israel and operates offices in the United Kingdom, Cyprus, Israel, Singapore, and Australia.

Plus500UK Ltd is authorized & regulated by the FCA (# 509909). Plus500CY Ltd is authorized & regulated by CySEC (# 250/14). Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018). Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; Authorised Financial Services Provider in South Africa, FSP # 47546. You do not own or have any rights to the underlying assets.

Markets Offered

Plus500 provides its customers over 2,000 CFD products to trade. Tradable assets include CFDs on shares, CFDs on indices, CFDs on commodities, CFDs on ETFs, CFDs on options, and CFDs on digital assets. Also included are a large selection of CFDs on forex pairs, and CFDs on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and IOTA. Below is a list of instruments available for trading at Plus500.

Tradable Instruments

Asset class
CFDs
Number of instrumentsSpreads fromMargins from Leverage Upto
Forex50+.6020%1:300
Indices31+.01%20%1:300
Commodities20+.03%20%1:150
Stock1700+.001320%1:20
ETFs95+.51%1:100
Cryptocurrencies13+1.1% mkt. price5%1:20

*Disclaimer: above figures are variable values

Account Types

Plus500 only offers a standard account to its customers.  Also available is a demo account with no time limit so the customers can practice and improve their trading skills. Below is a list of details and features for the standard account.

Account TypeStandard
ScalpingNo
HedgingNo
Demo accountYes
Micro accountNo
Standard accountYes
Zero spread accountNo
VIP accountNo
Managed accountNo
Islamic accountYes
Min tradeVaries
Max tradeVaries
Min deposit200 AUD

All client money is held in segregated client bank accounts in accordance with the Financial Conduct Authority’s client money rules. An overnight Plus500 fee (or credit) is either added to or subtracted from a trader’s account when a position remains open overnight. Plus 500 charges a $10 inactivity fee if there is no activity on the platform for a period of three months. This Plus500 fee only applies to real money accounts and only if the trader has sufficient funds in the account. Traders simply need to log in to their accounts periodically to avoid these fees. Islamic accounts are available.

Funding a Plus500 account can be accomplished via bank transfer, e-wallets, or credit card including MasterCard, Visa, PayPal, and Skrill. Bank transfer transactions may take up to 3 business days.

Opening an account with a Plus500 is usually completed within 3-business days. Documents required are a valid ID (i.e. passport, driver’s license, or national ID), and proof of address (i.e. bank statement, utility bill, or tax invoice dated within the last three months and issued to your name and address).

Does not accept clients from the following countries: USA, Canada, Belgium, China, Philippines

Web & Desktop Trading Platforms

Plus500 offers its clients a desktop, web, and mobile proprietary trading platform. The platform is very straight-forward and user-friendly.

Plus500 Trading Platform 

The platform displays charts with technical analysis indicators, and the assets available for trading can be seen in the upper part of the screen. The time frame of the chart can also be adjusted from “tick” view to 1-week view. Although the platform is simple to use, it does not have the sophisticated trading tools the Meta Trader (MT4) provides. The web version of the platform combines Java and html features within a sleek user interface design, adding a more streamlined layout than the desktop version. The platform includes over 100 technical indicators available, and traders have the ability to save chart templates. A Plus500 mobile app is also available and is very similar to the web and desktop versions. Below is a table that summarizes the important trading features included in the platforms.

Platform FeaturePlus500 platform
Stop loss OrdersYes
Limit ordersYes
One-click tradingNo
Trailing stopsYes
Expert advisors (EAs)No
Virtual private serverNo
Direct market accessNo
STP brokerNo
ECN brokerNo
Market makerYes
Price alertsYes
Signal tradingNo
WatchlistsYes
Charting toolsYes
iOS  AppYes
Android AppYes
Windows  AppYes

Education

Plus500 doesn’t offer any educational courses, videos or market commentary on its website. Plus500 does provide an economic calendar powered by Dow Jones.

Customer Service

Plus500 doesn’t provide formal phone support. The brokerage offers a fully staffed 24/7 live chat operation as well as ticket-based email support services.

For further information on the:-

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Trading Forex, Crypto currencies, shares, commodities and other instruments comes with a degree of risk. This can vary by instrument and is dependent a huge range of market and non-market factors. All brokers have a percentage of their retail traders / investors that lose money when trading. We advise all retail investors to ensure they can afford to undertake this risk and potential loss. Choosabroker.com uses best endeavours to provide up to date, relevant and impartial information to help in your broker evaluation process. If you require further information about our service, please do not hesitate to use our contact form.

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