Plus500
Plus500
Rating: 85%
Min Deposit
$ 100
Open a DEMO Account Open a REAL Account
Last Updated:

Plus500 - A Broker with a Strong Trader Base and Professional Approach

Plus500 forex is undeniably one of the biggest forex brokers in the industry, with over 300,000 active clients, large and diversified capital management, and control by some of the most stringent regulations. Since its foundation in 2008, Plus500 has excelled in marketing and new customer acquisition. Therefore, today it is listed on the UK FTSE 250 index. This achievement contributes to the perception that Plus500 is one of the most trusted forex brokers online.

Plus500's website feels clean. The instruments table is prominently displayed, with enough information provided upon clicking an asset name. An instrument-relevant FAQ list appears below charts and provides valuable information for beginner traders, especially if they do not have enough knowledge about selected assets. Right from the start, visitors to the website are greeted with a professional and mild approach.

  • No commissions
  • 24/7 support
  • A proprietary trading platform
  • 15 + years on the market
  • Fast withdrawals
  • Insights feature for trading strategy empowers

Overview of This Plus500 Forex Review

As we go into detail about each service that forex Plus500 provides, you will determine if this broker is a good fit for your trading style or your investing preferences. We will cover the areas that are essential to an investor. How is your deposit protected, and to what level? What are the bonus conditions, spread range, trading platforms quality, etc.? Finally, we will give a verdict after using the broker's services, coupled with deep research and testing.

Review Summary

Large group with exclusive proprietary platforms. Market-maker broker overseen by different regulators. Listed on the London Stock Exchange under the PLUS symbol.

Licenses
Licenses

Plus500UK Ltd is regulated by FCA (FRN 509909). Plus500CY Ltd is regulated by CySEC (No. 250/14). Plus500AU Pty Ltd is regulated by ASIC, FSCA, and FMA. Plus500SG Pte Ltd is regulated by the Monetary Authority of Singapore (CMS100648-1).

Platforms
Platforms

The Plus500 proprietary platform is available for smartphones, web, and desktops. No other platforms are available.

Privacy and Protection
Privacy and Protection

The privacy policy is strict, but a lot of private information is required for marketing purposes. Client funds are held in segregated accounts. ICF is available.

Spreads/Fees
Spreads/Fees

Variable and fixed spreads on different assets. No commissions. No fees for fund transactions.

Mobile
Mobile

The Plus500 proprietary platform is available for Android, iPhone, and Windows phones.

Customer Care
Customer Care

24/7 support is available in different languages. There is no phone communication. Only the contact form is available on the website.

Review of Plus500.com Regulation

Contract for difference (CFD) trading offered through the plus500.com web platform is managed by Plus500CY Ltd from Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC). Several other subsidiaries are regulated by different authorities, namely, the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Monetary Authority in Singapore. Client funds are segregated in line with CySEC guidelines. Plus500 is a market-maker type broker and uses hedging methods to offset positions.

Finally, Plus500 has a fund compensation program under the Investor Compensation Fund (ICF) governed by CySEC. Additional details can be found in the provided legal documents. A comprehensive discussion on ICF is also presented in this review.

  • UK's FCA (Financial Reference Number [FRN] 509909); CySEC (License No. 250/14)
  • AFSL #417727 issued by ASIC. Financial services provider license no. 486026 issued by the Financial Markets Authority (FMA) in New Zealand and Authorized Financial Services Provider license #47546 issued by FSCA in South Africa
  • Seychelles Financial Services Authority (License #SD039)
  • Estonian Financial Supervision and Resolution Authority (License #4.1-1/18)
  • Monetary Authority of Singapore authorization for dealing in capital markets products (license #CMS100648)
  • Dubai Financial Services Authority (license #F005651)

The Plus500 app review is rated and reviewed on Google Playstore and Apple App Store; but, in our opinion, this rating and review is of little worth in terms of credibility. The ratings are not flawless. The same goes for the "Objectives & Vision" section, which is a part of marketing and is therefore not important for any serious investor.

The primary goal of Plus500 marketing is to attract clients and capture market share. Potential clients should probably place extra focus on investor relations because Plus500 is a public broker listed on the London Stock Exchange Main Market (PLUS).

Pros

  • Segregated account
  • Highly capitalized broker

Cons

  • VPS is available only if you qualify
Plus500
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% 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.
Go To Website

From Crypto to Forex, Plus500 Knows Which Instruments are in Demand

No matter how many plus500 com reviews you read before creating an account, you will be pleasantly surprised by the range of assets you can trade with this broker. What's more, everything is neatly organized, informative, and clean. Selecting a category will open a new page with information about leverage, trading tools, relevant general information, etc. Both experienced and novice traders will find what they want.

  • Crypto – We counted 14 tradable instruments. The most popular options, including BTC, ETH, and XRP, are present along with the Bitcoin/Ethereum combo. Some lower market cap cryptos are also offered, namely Tron, Monero, EOS, Bitcoin Cash ABC, and Cardano. The popular Crypto 10 Index is also part of the offering.
  • Indices – A total of 30 indices are listed, including some focused country indices that are not commonly available with other brokers. These indices include Greece 25, UK Brexit High 50 Index, and Hungary 12. Distinct options like Gaming Giants Index or Cannabis Stock Index are also offered, catering to specific preferences.
  • Forex – More than 70 pairs are available. Forex traders will find everything here. There is no need to look any further.
  • Commodities – Over 20 commodities are on the list, which is great and will satisfy even picky traders. The CO2 EU Allowance (commodity) is tradable.
  • Shares – The extensive list of shares is categorized by country and sector. Scrolling down the USA companies list will take some time. Stock traders do not need to look elsewhere.
  • Options – Sell or buy options are offered, mostly on indices, stocks, and some commodities. Clients will find interesting opportunities here.
  • Exchange-Traded Funds (ETFs) – As with shares, there is a broad range of ETFs.

Pros

  • A great number of assets to trade
  • 24/7 Crypto trading (1 hour break on Sundays)

Cons

  • Cryptocurrency CFDs are not available for UK and USA residents
Plus500
Plus500 is a global fintech group offering CFDs, futures, and regular stock trading services. It grants clients access to an exclusive tool called +Insights, allowing traders to strategize trades by analyzing the activity of millions of customers in real-time.
Plus500 – The World's Trading Machine

General Cost of Trading with Plus500 Forex Broker

The cost of trading varies with variable and fixed spreads, depending on the instrument traded and the Plus500 account type. If you use guaranteed stop orders, the spreads will be wide. Overall, fixed spreads are better than what is usually encountered in the industry. For example, the EUR/USD spread is 0.8 pips, GBP/USD is 1.1 pips, EUR/JPY is 1.3 pips, and the exotic USD/RUB is 700 pips.

To see how a broker manages spreads, one should check the crypto offers. Plus500 charges 36 pips for BTC/USD and 1.35 pips for ETH/USD. In comparison to other big brokers, Plus500 has attractive spreads for alternative coins. These spreads are among the features that stand out. On the information panel, а trader Plus500 can see the spread in % and can easily calculate the spread / average daily range factor in order to understand the potential of frequent trading.

Pros

  • Fixed and variable spreads
  • Competitive spreads

Cons

  • Too many dependencies

Swaps or overnight funding have similarly low levels. Therefore, daily traders may be at ease and leave trades open for long. Positive swaps are also not uncommon. All this information is readily available, and clients are guided about any fees by useful related links.

There are no commissions or withdrawal fees charged by this broker. Instead, Plus500 charges guaranteed stop orders through a wide spread. Moreover, there is no additional cost of trading. An inactivity fee of $10 is charged monthly if you do not log in to your account for 3 months.

Plus500 Forex Broker Registration – A Rather Hassle-Free Process

We always highly prioritize a website's security. Plus500.com is SSL encrypted and equipped with recognition measures. Upon accessing the site, your country is immediately detected, and, accordingly, you are redirected to an appropriate website version. Clients from the UK, for example, will see a website that is slightly different from that of another country and will fall under FCA regulations.

The Plus500 open account process remains the same in different countries.

Step 1:

The first step requires selecting a demo or a real account, with the option to also choose a smartphone version.

Plus500 signup procedure step 1
Step 2:

The next step of the Plus500 create account procedure requires you to type in your email and password. You also have the option to utilize your Facebook, Google account, or Apple ID. Upon completion, your account is created and the Plus500 forex platform is accessible. Compared to other brokers, the sign-up process and Plus500 account review is rather quick.

Plus500 signup procedure step 2
Step 3:

Once you are on the platform, you can switch between a demo and a real account. You have access to both. Naturally, to trade with real money on Plus500 forex trading, you need to complete the verification process first. You will be asked about your ID information, residence, "Assessment of Appropriateness," phone verification, etc. The verification process with Plus500 is somewhat more demanding compared to the same process in other brokers.

Plus500 signup procedure step 3
Plus500
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% 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.
Go To Website

No Surprises With Plus500 Payment Options

New visitors will not see all the channels for deposits/withdrawals on the website. You must first create an account in order to see the possibilities. Nevertheless, we know that e-wallets like Skrill and PayPal are available on the Plus500 broker platform. Once you deposit, the broker will always use the same withdrawal channel. If you select another method, the original one will remain primary. Bank transfers and credit cards constitute the remaining deposit/withdrawal options.

On the platform, you will see all the possible deposit channels, minimum and maximum amounts, declarations, processing times, and explanations. Information on funds processing time is highly dependent on third parties. Plus500 declares that processing times do not exceed 1 business day. The platform informs users about the fund's transaction status through stages—similar to delivery tracking, which is a nice feature highlighting the importance of client funds. Finally, we found deposit and withdrawal mechanisms to be easy to use and informative, giving investors security and a sense of professionalism.

Deposit and Withdrawal methods

Deposit Method Deposit Processing Times Min Deposit Withdrawal Procesing Times Min Withdrawal
Credit / Debit cards Jurisdiction and bank processing time $100 Jurisdiction and bank processing time N/A
eWallets Specific processing time $100 Specific processing time N/A
Bank Wire Jurisdiction and bank processing time $0 Up to 5 business days N/A
*18+ T&Cs apply to each offer.

See more from “Forex Brokers”

ActivTrades
ActivTrades
US
Rating: 83%
AvaTrade
AvaTrade
US
Rating: 90%
Eightcap
Eightcap
US
Rating: 96%
eToro
eToro
US
Rating: 91%
FXCM
FXCM
US
Rating: 80%
FXTM
FXTM
US
Rating: 84%
IC Markets
IC Markets
US
Rating: 83%
IG
IG
US
Rating: 89%
OANDA
OANDA
US
Rating: 90%
Pepperstone
Pepperstone
US
Rating: 97%
Plus500
Plus500
US
Rating: 85%
PrimeBit
PrimeBit
US
Rating: 98%
XM
XM
US
Rating: 100%
XTB
XTB
US
Rating: 99%

Security Measures

Depending on your country of residence, different regulations may apply. What is certain is that Plus500 is heavily capitalized, with one of the highest investments in marketing in the industry. An influx of new traders is keeping the Plus500 cash flow at relatively high ratios to other key financial figures. Information about the company is extensive, transparent, and available for download.

This information is valuable for traders considering trading with actual Plus500 forex broker shares. Taking everything into account, investors will have enough confidence in this broker's equity strength.

Both retail and professional accounts include negative balance protection, segregated client accounts, and access to financial ombudsman services. Only money held in retail accounts is insured by ICF. ICF operates under CySEC oversight. ICF is not a large fund. In case of insolvency, the insured amount is up to €20,000.

Pros

  • Compensation fund available
  • Covered by General Data Protection Regulation

Cons

  • Although regulated, the broker's marketing methods are intricate to navigate
  • Plus500 is a big broker and may, therefore, not be able to adapt to market disruptors

For comparison, the maximum insured amount under the UK FSCS is £85,000 (for UK clients registered on plus500.co.uk). Plus500 has a large pool of active traders (more than 100,000). Therefore, in case of insolvency, ICF will not be large enough to compensate investors' funds. Nevertheless, having some level of insurance is preferable to none.

Operating under EU or UK regulations, this broker adheres to strict privacy policies, ensuring your personal information is kept protected. Also, you are able to decide how much personal information is shared for marketing purposes under the account settings for privacy. Notably, privacy-conscious investors may dislike the 24/7 chat service connection on WhatsApp, which requires your real phone number and other information. Once you start the chat, you will be prompted for your email and country of residence.

Proprietary Trading Platforms Suitable for Novice Traders

This broker uses its proprietary platform that is available for Android, iPhone, and Windows 8 and 10. Visitors are automatically redirected to the platform once they log in to their accounts. The first impression is one of cleanness, the same as that of the website style. Clearly, simplicity is welcome for novice traders. The search box for instruments is useful and works well. The chart, however, can be enlarged to a full size but custom resizing is unavailable.

Trading conditions and information are readily accessible, eliminating the need to search. Additionally, traders will have useful alerts and easy orientation. We did not find any execution delays even when the system met rapid orders.

Plus500 user-friendly interface

Once you have some positions open, everything related to your portfolio and assets is available at a glance and is manageable. Order edits are possible with stop loss, take profit, and trailing stop in pips, percentage, or risk amount.

The chart is simple and reminiscent of TradingView, but it is not sophisticated at all. A few layouts are available, including uncommon ones like custom Renko, Kagi, and line breaks. The range of indicators is satisfactory, but advanced technical analysis traders will find it lacking. Unlike MT4/5, indicator cross-use, custom import, advanced indicator settings, and other features are not present on Plus500 broker platforms. However, for undemanding traders, the platform is sufficient.

Pros

  • Clean and beginner-friendly
  • Well built

Cons

  • Not suitable for advanced traders
  • Windows 7 is not supported

Plus500 Broker Mobile App Features

If you are wondering whether is Plus500 a good broker, the answer is yes because it has mobile trading available for Android and iPhone. After the same login process, the home screen presents both the chart and the instruments list in a clean and simple layout. As with the web platform, information is easy to read, while statistics, sentiment, trading conditions, etc., are neatly organized. You can also set up alerts that can be delivered through SMS, push notifications, or email.

The addition of the economic calendar within the platform is great, featuring the same superior Dow Jones website tools section.

The chart features some indicators, but most of them cannot be displayed: there is a pop-up notification that says, "the screen is too small." However, simpler ones like Parabolic SAR work. Overall, the chart features have not been developed to TradingView levels.

The Account Snapshot feature is handy, offering a good but simple way to display your equity composition, leverage, margin, and open positions in the form of charts and numbers. This feature is useful for quickly glancing at your exposure.

Plus500 broker's mobile app shares the same concept as the web platform, but it falls short in comparison to its competitors in terms of quality. The app appears to be designed for checking positions occasionally when traders are away from their computers. In this regard, it is responsive and executions are fast.

  • Android
  • iOS

Pros

  • Clean and beginner-friendly
  • Good overview and alerts function

Cons

  • Not suitable for advanced traders
  • Frequently logs out
Plus500 mobile trading platform Plus500 mobile trading platform

Other Key Points About Plus500

In this Plus500 broker review, it is important to point out that the broker has a proprietary platform and a dealing desk. Different regulations and rules regulate the platform. The FCA regulations are the most rigid, and they cover the Plus500 UK Ltd platform and the plus500.co.uk website. Bonuses for other jurisdictions are available under specific terms and conditions. For additional information on global coverage and differences between regions, refer to the provided table.

For traders who want to receive Plus500 com review and information on how the group is performing, a subscription to company announcements is also available.

One key point that may shock traders is the fine Plus500 had to pay in October 2012 to the FSA. The broker had inadequate controls and did not report some financial transactions and had no relevant staff training. A total of £205,128 was paid.

Customer Support – 24/7 Availability but You Need to Wait

Because this is a detailed Plus500 forex review, we could not fail to talk about customer support. The 24/7 availability is real—we did not find any hour breaks. Initiating a chat will first take you to the FAQ section, where you will have a few answers. To connect to live support, you must go use web WhatsApp (for plus500.com—not plus500.co.uk). If you are familiar with web WhatsApp, you will know that your contact information is shared once you open a chat.

Staff response time can range from 3 minutes up to 45 minutes, which is not fast enough to be considered chatting. On the other hand, once you get a reply, the support staff is polite, knowledgeable, and gives you a complete answer. You will probably not have to ask additional questions in the same field following their assistance.

Pros

  • 24/7 support
  • Polite and knowledgeable

Cons

  • Only WhatsApp chat is available on the global version (Plus500CY Ltd)
  • No phone support

You will not be able to contact support by phone. You can only reach them through the contact form on the website. We have received the following explanation from them on this subject: "We cannot provide any phone support, only online chat or email since based on our experience, we found it is a more reliable means of communication."

Live Chat
Yes

Plus500 is available in the following languages:

Arabic
Bulgarian
Croatian
Czech
Danish
Dutch
English
Estonian
Finnish
French
German
Greek
Hebrew
Hungarian
Italian
Latvian
Lithuanian
Mandarin Chinese
Norwegian
Polish
Portuguese
Romanian
Russian
Slovak
Slovene
Spanish
Swedish
Turkish

Visit “FOREX BROKERS ACADEMY” for more information.

Go To ACADEMY

FAQs

Is Plus500 a Good Broker?

It is good for beginners and intermediate traders who do not rely much on technical analysis and just want alerts, a wide range of instruments to pick, and competitive spreads.

Does Plus500 Forex Broker Offer a First Deposit Bonus?

It depends on which Plus500 platform you are registering with. Check the Additional Key Points about Plus500 section.

Does Plus500 Offer Metatrader4/5?

Only Plus500 proprietary platforms are available.

What Makes Plus500 So Popular?

The broker has made extensive investments in marketing and sponsorships with popular sports clubs. Moreover, Plus500 offers trading in a wide range of crypto, shares, and forex besides attractive spreads.

Is Social Trading or Automatic Trading Possible with Plus500?

No. Moreover, hedging and scalping are not allowed.

Conclusion

Plus500 forex is a large and popular market-maker broker, which exclusively uses its proprietary platforms. It gathers a lot of information from clients for marketing. Our impression is that this is a broker that exercises great control and has a right to do so because traders make a profit. Numerous reports and low ratings make investors very cautious.

Traders may look at the Plus500 demo account as easy-to-use, serving as a testing ground and affording useful tools for risk management and alerts. Some may even appreciate that there is no market research or gimmicks, just pure and free trading.