Plus500 is a multi-regulated forex broker that allows trading in lots of trading instruments, including forex, stocks, indices, cryptocurrencies, and ETFs. Plus500 broker offers trading with a zero commission environment, but the biggest drawback is that it does not provide MT4 and MT5 trading platforms. Furthermore, it does not provide services to US clients.
Pros
- Start trading with $100
- Lots of trading instruments, including forex, stocks, cryptos, and ETFs
- Zero commission in every trade
- Multi regulated broker
Cons
- Inactivity fee of $10 after three months of inactivity
- Does not provide MT4 and MT5 platforms
Plus500 Ltd is a listed company in the UK FTSE 200 on London Stock Exchange. It is based in London and regulated under the Financial Conduct Authority (FCA). Moreover, this broker got multiple regulations in its subsidiaries from ASIC, CySec, FSCA, and more.
The head office of Plus500 is located at Matam, Haifa, Israel. Its subsidiaries’ offices are located in Tel Aviv, London, Sydney, Singapore, and Limassol. Plus500 is a leading Forex and CFDs service provider in Asia and Europe that offers more than 1000 instruments to their clients. The company became popular among mass people after becoming the sponsor of Europa League Champions for the following two sessions.
Regulation
Plus500 holds regulation from multiple authorities from leading places. During our review, we have found this broker and its subsidiaries as regulated by these authorities:
- Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909).
- Plus500CY Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC Licence No. 250/14).
- Plus500AU Pty Ltd holds AFSL No. 417727 issued by ASIC, FSP No. 486026 published by the FMA in New Zealand, and Authorised Financial Services Provider No. 47546 issued by the FSCA in South Africa.
- Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1).
- Plus500IL Ltd is registered in Israel and licensed to operate a trading platform.
- Plus500SEY Ltd is authorized and regulated by the Seychelles Financial Services Authority (Licence No. SD039).
Account Types
Most of the forex brokers provide multiple account types to catch all kinds of traders, while Plus500 is stuck to two account types. Investors can test the trading platform and environment through the demo account.
To get the trading service from Plus500, investors should invest a minimum of $100 in their account. Here 100 is the currency unit, depending on the country you live in 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 | Plus500 professional account |
| Plus500 retail account offers trading in 70 currency pairs, shares, options, commodities, ETFs, and the eight most cryptocurrency pairs. Moreover, the leverage depends on the regulation and starts from 1:30 to 1:300. | A Plus500 professional account is often known as Plus500 Gold account. It has the same feature as the Retail account, with some exceptions. |
| Other trading facilities are mentioned below: Minimum deposit: 100 local currency Trading model: CFDs Lot size: 1 lot= 100,000 units Execution type: market Spread: variable Negative balance protection: yes | You have to fill some requirements to get the professional account: High trading activity in last year Invest €500,000 or more. Strong experience in financial |
If you want to downgrade your status from a professional account to a retail account, you can do it by consulting with customer support.
Fees and Commissions
Plus500 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:
- Zero fees on deposits
- Zero fees on withdrawals
- Zero fees on rolling positions
- Zero fees for position extension
In trading, Plus500 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, Plus500 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.
Payment options
Plus500 has both electronic and bank payment opportunities for traders. To make a deposit, you have to follow some simple steps after opening the account.
Plus500 deposit options
To make your depositing even easier, see the following steps:
Step 1: Click on “funds management” and “select deposit”.
Step 2: Choose your preferred deposit method.
Step 3: fill in the required fields and click “submit”.
The available deposit methods:
- Credit Card/ Debit Card
- Bank Transfer
- PayPal
- Skrill
Plus500 withdrawal method
Withdrawal initiation takes place in the same way as account replenishment. Instead of a deposit, you need to select the withdrawal option in the “funds management” section. The overall withdrawal process takes one to three business days.
After the withdrawal request gets approved, you may have to wait a couple of extra days to see the funds in the account:
- Credit cards: according to the required time to process bank transactions.
- Bank transfer: usually five business days.
- Electronic wallets: three to seven business days.
Moreover, there is no withdrawal fee despite some exceptions mentioned below:
- Banks may take some charges where Plus500 does not have any say.
- In the case of currency conversion, investors may have to pay a fee.
- The name of the deposit and withdrawal-making person should be the same.
- The deposit and withdrawal may take 1-3 days to complete.
Available Markets
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.
Forex
- Plus500 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 offers 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 provides trading opportunities in S&P 500, NASDAQ 100, FR 40, etc.
- Ability to trade with leverage up to 1:300
Cryptocurrencies
- Provides opportunity of trading cryptocurrencies with leverage
- 24/7 trading opportunity
- Available assets: Bitcoin, Ethereum, Litecoin, Stellar, Bitcoin Cash, Cardano, etc.
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
- There are very few brokers that offer the forex and options trading together, and Plus500 is one
- Plus500 provides options trading with 1:5 leverage
ETFs
- Plus500 offers ETF like VXX volatility and SPDRUSA500
- Available leverage is a maximum of 1:100
Trading Platforms
Plus500 provides trading opportunities through an online trading platform. Therefore, investors familiar with the traditional MT4 or MT5 platforms might feel it hard to get acquainted with the platform.
The desktop version of this platform is also available that a trader can easily install on a personal computer. Moreover, it is also available in the windows store and Google PlayStore. Plus500 provides trading opportunities for both retail and professional accounts through the proprietary platform.
The trading screen is divided into three main sections, and the menu is located on the left side of the screen. The upper section of the trading screen is reserved for the asset selection dialog, while the lower part of the screen displays a trading chart.
For the latter, you can choose to display a line chart or a Japanese candlestick chart. At your service, various technical indicators can be superimposed on the quotes chart for in-depth analysis of price fluctuations. The graph time range can be adjusted from 1 minute to 1 week.
Although the platform is not similar to the MT4 or MT5 platforms, it has multiple trading functions and efficient tools. On the other hand, the drawback of the platform is that traders will not be able to use any expert advisors written in the MQL4 language.
Risk management tools
Plus500 allows you to open new positions using the stop limit and stop 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.
Plus500 provides a guaranteed stop order where if the trade moves against your direction, it will be closed without any slippage.
Trading alerts
Plus500 trading alerts are free and easy to use. You can access the trading alert by clicking on the alert icon from the trading platform.
Trading alerts are available for the following types of indications:
- Price alerts
It shows the specific level where you can take a buy or sell position.
- Change %: daily or hourly
Using the % change, you can get an alert when the price reaches that level. Moreover can be changed from a daily to an hourly time frame.
- Traders’ sentiments: buyers % vs. sellers %
It shows the overall market sentiment based on trader’ activity in the Plus500 platform.
Customer Support
Plus500 website is available in 31 languages. Moreover, its FAQs are enriched with a lot of information for the broker.
Another form of contact with the broker is the contact form. If any information from the FAQs 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 that is available 24/7. The live chat of Plus 500 is efficient and helpful.
Review Summary
In summary, we have found Plus500 is a reliable forex broker that allows numerous trading instruments from forex, stocks, indices, cryptos, etc.
Overall, based on our review Plus500 has the maximum funds safety as it uses tier one liquidity from multiple world-class liquidity providers. However, the main drawback of the platform is that it does not provide an MT4 or an MT5 platform.
