Plus500 review: over 2000 trading instruments on CFDs

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

As a trader, it is important to choose a broker that fits your needs and goals. You must look at all the features to understand how you can protect your funds, and where and how you will be able to invest them. 

This Plus500 review will tell you all about one of the world’s most important CFD providers and what it has to offer.  We invite you to read all about Plus500 and its over 2,000 financial instruments and real time quotes.

What is the Plus500

Plus500 is a regulated CFD broker that accesses worldwide markets since their launch in 2008. They are regulated by important authorities such as the Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC).  

According to their website, Plus500 has over 35 million positions opened, over 1310 billion in traded value, and over 200 thousand active customers in 2019.  

Plus500 Review Security

Offices and regulation

In order to protect client’s interests, Plus 500 is regulated by top tier authorities. One of these is the Australian Securities and Investment Commission (ASIC), license number 417727. This broker is also authorised to operate and regulates by the following authorities: 

• So as to adhere to South African rules, they work through an Authorised Financial Services Provider, whose license number is 47546.
• Financial Conduct Authority from the United Kingdom (FRN 509909).
• Cyprus Securities and Exchange Commission. Their licence number is 250/14.
• Seychelles Financial Services Authority, licence number SD039.
• In the Monetary Authority of Singapore, Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license for dealing in capital markets products. Their license number is CMS100648-1.

Plus 500 has physical offices. They are headquartered in Haifa, Israel.

Main features

Plus 500 offers their traders and economics calendar in order to be on top of top market dates, events or releases. It has real time alerts that can be sent to your email or in the form as a text message depending on how you program it. In this way you will know if an instrument of your interest reaches a certain price, or if trader sentiment changes. 

Non accepted clients

US citizens or residents are not allowed to be clients in Plus 500. (There are more countries that are not allowed operate on the Plus500 platform due to local restrictions. Please check on the Plus500 website if you are allowed to trade)

Plus500 Review – Account types

Plus500 offers a standard trading account for both retail and professionals. Once the account is verified, you must deposit an initial amount of at least $100 in your base currency.  

However, there is a Plus500 demo account. Because of the risk that CFD trading implies, it is a good idea for both beginners and experienced traders. In this way, you can access the market with paper money and not risk actual funds until you feel prepared. 

Plus500 review – fees

Deposits

Deposits can be made into your account through three different options. You can use debit and credit cards that are Visa or MasterCard. You can also choose electronic wallets such as PayPal or Skrill. Your third option is to use direct bank transfers.

The deposit minimum and maximum will depend on each account and the region you are located in.

Min deposit: £/€/$100 or AU$200

Please note: there are countries that can’t operate on the Plus500 platform due to local restrictions. Please always check on the Plus500 website if you are allowed to trade

Withdrawals

Withdrawal methods include debit and credit cards, direct bank transfers and electronic wallets. It is possible that you must present documentation in order to withdraw. The minimum amount will be specified on your withdrawal screen. 

Once you follow the necessary steps, and present documentation in case it is asked for, your withdrawal will be executed from 1 to 3 business days. 

Others

Plus 500 has an overnight fee in case you hold a position after markets close. The fee will depend on the instrument, and you can find the information on the trading platform screen. A currency fee will also be charged and it can be up to 0.5% “of the trade’s realised net profit and loss and reflected in real time into the unrealised net profit and loss of an open position”.

Another of the plus 500 trading fees is the inactivity fee to those who are inactive for 3 consecutive months. From this moment on you will be charged $10 per month. Other than these fees, there are no commissions charged. 

Plus500 Review – Trading features and platforms

Position size

This CFD broker, Plus 500, has two spread mechanisms. One of these is the Dynamis Spread. It means that the difference between the buy and sell price will adjust when the market spread changes due to general fluctuations. These alterations will happen while a position is open. 

On the other hand, there is the Spread that adjusts itself when the market is illiquid and volatile. This happens in order to express the market conditions as best as possible. 

Techniques allowed, prohibited. etc.

Trading techniques such as hedging and scalping are prohibited. If a client uses any of these, the account will be closed. Mirror and copy trading are also not allowed, although Plus 500 offers what is known as Trader’s Sentiment where you can see how many traders are opening or selling positions through their platform. 

Risk management

Plus 500 offers four different risk management options. You can use stop loss to buy or sell at a specific price. A stop limit you can set a certain price in which you would like your order to execute, but the market might not reach the price you have sent and it could not be carried out. 

A third option could be a guaranteed stop that can be used when a market is too volatile. You set a specific position where your order stops.The fourth risk management option is the trailing stop where you set a specific loss price at a certain percentage. If the market rises above the order, so does the stop-loss price.  

Apart from these techniques, Plus500 also offers negative balance protection and segregated accounts in order to secure your money in case of bankruptcy or insolvency.

Markets and Assets

Plus 500 is one of the world’s leading CFD providers. Through this highly regulated platform you can access important markets and assets such as indices, ETFs, shares, and 50 currency pairs for forex trading. You can also trade shares, options, and commodities such as copper, coffee, corn, oil, gold and silver. 

If you like trading cryptocurrency you have many choices, leverage included. Plus500 crypto offers Litecin, Bitcoin, Ethereum, EOS, Ripple, Tron, Cardano, Bitcoin Cash and more. These can be traded through CFDs only.

Leverage

in accordance with the ESMA regulations, the maximum leverage available for retail clients on the Plus500 platform is 1:30 for  EU/UK traders and 1:300 for Australian traders. Leverage  will depend on the asset you are trading and the region you are located at. 

Platforms

This broker offers their own platform, known as the Plus500 Trading Platform where all of the instruments can be leveraged. They have 24/7 customer support in most regions, it is available for over 50 countries and has 30 languages. 

Plus500 offers trading on the go through their mobile trading app which can be downloaded on both Android or iOs. 

Plus500 review: 

Educational offering

Plus500 only offers the Trader’s Guide as educational help. It consists in a series of videos that explains basic terminology such as what is a rollover, what are CFDs, what are options, and what are trading alerts. 

Customer support

Plus500 offers 24/7 customer support. You can contact them via live chat, email and Whatsapp messages. However, there is no telephone support. They have a vast FAQ section that can help you with your doubts as well. 

Their website offers over 30 languages. Some of these are  English, Chinese, Spanish, German, Chinese, Turkish, Portuguese, Norwegian, Polisch, French, and many more.

Plus500 review pros and cons

Advantages

• Great 24/7 customer support.
• Regulated by top tier authorities.
• They offer a demo account.
• Over 30 languages on their website.
• Over 2.000 financial instruments.

Disadvantages

• US clients are not allowed.
• They charge an inactivity fee after 3 months.
• No scalping or hedging.
• Limited educational offering.
• No research section. 

How to open an account with Plus500

In this Plus500 review you will find a step by step process on how to open a Plus500 account below. Take a look!

How to open an account

1. Once you have entered the Plus500 main page, look to your top right. Click on the button that says “start trading”.
   
   
   
   
2. First, you will be offered to login. Since you don’t have an account, click on the blue sentence that says “Don’t have an account? Create one now!”. 
   
   
   
3. You will now be redirected to a page where you must fill in your email and password and click on the blue button that says “create account”. After this, you will be immediately taken to the online trading platform. 
   
   
   (Illustrative prices)

How to convert demo to real

1. At the very bottom of the left vertical menu bar, you will see three options. Click on the middle button. It will automatically switch to demo mode. If it says demo mode as it does on the screenshot, you are on your demo account. It is automatic once you have opened a live account.
   
   
   
   
2. You should also see as shown below, a button above your chart that says that you have switched to demo mode.
   
   
   (Illustrative prices)
   
   

How to deposit money and start trading

1. Go to the left vertical menu bar. Click on the last option that says “funds”.
   
   
   
   
2. Once you click on funds you will see the funds management page. You can click on “deposit”.
   
   
   
   
   
3. You will see the three available deposit methods to the left. You may choose your option, fill in the information and verify if needed. 
   
   

Review: is Plus500 a trustworthy CFD broker?

Plus500 is regulated by top tier authorities such as ASIS and FCA, allowing you to access important markets. Although they do not have a research section or a vast educational offering, you can contact their 24/7 customer support easily through Whatsapp, live chat or email. 

Since trading CFDs is risky, it is positive that there is a Plus500 demo account to try out new strategies or learn. Remember that the more we know, the less we risk our funds. It is a fast moving market. Therefore, if you are new to trading it might be a good idea to read more on CFDs on another website. 

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money