In a nutshell
Plus500 is one of the biggest and most trusted CFD brokers worldwide. It is primarily specialized in trading with contracts for difference (CFD) with different underlying assets such as commodities, stocks, cryptocurrencies, forex, ETFs and market indices.
It offers an easy-to-use trading platform with a slick and simple interface. The platform is suitable for both experienced traders and beginners alike.
Plus500 also has a friendly fee structure. Its spreads are competitive and it doesn’t charge any deposit or withdrawal fees.
We were also impressed by the research tools and the responsiveness of the customer support.
According to dailysquib.com, Plus500 is among the highest-rated CFD trading apps on both Google Play and the Apple App Store.
Regulation and safety
Plus500 is regulated in multiple jurisdictions. Their subsidiaries are regulated by the Financial Conduct Authority (FCA), Cyprus Securities Exchange (CySEC) and the Australian Securities and Investments Commission (ASIC).
All client funds are held in a segregated client bank account, ensuring that assets and funds are secure.
Plus500 is also a publicly-traded company which is not common for online brokers. Being listed on the London Stock Exchange, they have to disclose financial information which provides another layer of protection for investors.
Plus500 also has a client money protection policy. This means that the funds are not used for hedging or initiating speculative positions in the market.
Plus500 offers a wide range of financial instruments that work as a contract on difference (CFDs). Over CFDs, traders can trade with indices, commodities, cryptocurrencies, shares, options, ETFs and forex.
Commodities include oil, gold, natural gas, silver, cocoa, coffee, and sugar.
Cryptocurrencies on Plus500 cover ethereum, bitcoin, bitcoin cash, NEO, monero, ripple, litecoin, and IOTA.
Furthermore, Plus500 covers all major currency pairs such as EUR/USD, GBP/USD and EUR/GBP.
They also offer options contracts on stocks and indices including Germany 30, France 40, UK 100, Netherlands 25, USA 500, Italy 40, Alphabet and many others.
All in all, they offer around 2200 different instruments. In comparison to other brokers, they especially excel in CFDs over stocks.
Plus500 main offer is a standard live trading account, along with a demo account with $40,000 of virtual money to play around and test the platform. Beginners especially can use the demo account to familiarize themselves with the interface and tools available.
They also offer a Professional Client Account for eligible individuals who have met certain criteria. These criteria include sufficient trading activity, a large enough portfolio size, and relevant work experience.
Pro Accounts also have access to a range of benefits, including higher leverage amounts on certain instruments, the ability to revert back to a Retail Account at any time.
Spreads and Fees
Plus500 has a relatively low trading fee structure. The broker makes money with the so-called bid/ask spreads. To check the information for individual financial instruments, go under “Details” and browse the “Info” section.
That being said, Plus500 – like all other brokers – also charges certain non-trading fees.
They include the following:
- Overnight funding—This amount is either added or subtracted from an account if the position is open past a stipulated time period.
- Inactivity fee—If accounts have not been used for more than a period of three months, traders will be charged with a $10 fee. This fee only applies to real money accounts and if there is a sufficient balance in the account. To avoid this, traders have to log into their accounts every now and then.
- Guaranteed stop order—Traders who make use of guaranteed stop orders may have to pay wider spreads to limit their losses
Deposit and Withdrawal
Plus500 doesn’t charge any deposit fee. They do, however, have a minimum deposit which is set at $100 for credit deposits and $500 for wire transfers.
There is also a minimum withdrawal amount of $50 USD for PayPal and Skrill. For bank transfers and credit cards, the minimum withdrawal fee is $100 USD and typically takes about one to three business days for Plus500 to process them.
All the withdrawal methods each have a minimum amount threshold, that can be found on the withdrawal screen on the trading platform. It is also part of the Plus500 policy that funds have to be withdrawn to the same payment method from which that have originated, and hence withdrawals cannot be done through other methods.
The good news is that Plus500 offers up to five withdrawals per month with no charge.
Research and education
The broker’s research tools are very decent. Currently, they provide around 50 different indicators. Plus500 also offers an economic calendar, market sentiment tools, and a plethora of charting tools that can be customized to your needs.
In terms of the educational material, the possibilities are relatively limited. A trader can take advantage of instructional videos that are useful for beginners but old news for more experienced users.
You can contact customer service via live chat and email. There is no phone support, but they use WhatsApp. Email replies are fast; you receive an answer in one to two hours. Most of the answers are relevant to the issue.
In addition to the good quality of customer service, it is also available 24/7, which is not the case at most other brokers.
In a nutshell, Plus500 is a reputable and recognized platform that traders can trust and rely on.
In our opinion, it is one of the best providers out there, especially considering the price-performance ratio.
The extensive tools and range of financial markets that are accessible to traders are a huge plus point.
Their user-friendly trading platform is hassle-free.
The demo account is great for beginners to familiarize themselves with CFD trading and the user interface.
All in all, Plus500 is one of the top leading CFD trading platforms, that offers an enhanced and pleasant trading experience for all.