Plus500 Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- WebTrader
- Mobile application
- FCA
- CySEC
- MAS
- ASIC
- FMA
- FSA (Seychelles)
- 2008
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- WebTrader
- Mobile application
- FCA
- CySEC
- MAS
- ASIC
- FMA
- FSA (Seychelles)
- 2008
Our Evaluation of Plus500
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Plus500 is a moderate-risk broker with the TU Overall Score of 6.98 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Plus500 clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Plus500 is a reliable global broker with a rich selection of assets and a client-centric approach to service delivery. It is aimed at active traders, providing them with risk management tools and proprietary platforms with excellent analytical capabilities.
Brief Look at Plus500
Plus500 is an international fintech holding that offers CFD and options trading worldwide through its network of branches, as well as futures trading in the U.S. The company was established in 2008 in the United Kingdom. It is regulated by the FCA, as well as by 9 financial supervisory authorities in other countries, such as CySEC (Cyprus), ASIC (Australia), MAS (Singapore), FSCA (South Africa), among others. Plus500 is listed on the London Stock Exchange (ticker: PLUS) and is part of the companies that make up the FTSE 250 stock index. Plus500 is a reliable intermediary for accessing financial markets, used by over 25 million traders worldwide.
- Multi-regulation — licensed in 10 countries;
- Wide range of trading instruments — over 2800;
- Highly functional trading platforms — browser and mobile versions;
- Transparent pricing model — all trading costs for the trader are included in the spread;
- Automatic adjustment of trading conditions to meet regulatory requirements;
- Provision of educational content, free analytics, and demo accounts;
- Customizable trading alerts — both on the platform and through external communication channels.
- Lack of Micro or Cent-type accounts in its account lineup, which allow trading with minimal risks and investments;
- The Plus500 platform does not support automated trading;
- Some popular trader strategies are prohibited.
TU Expert Advice
Financial expert and analyst at Traders Union
The Plus500 broker offers access to more than 2,800 trading instruments but specializes in CFDs and Forex. The choice of assets varies by country. For instance, only U.S. residents can trade futures, while UK residents are restricted from trading CFDs on cryptocurrencies. The company has already announced the Plus500 Invest service, allowing trading in real stocks rather than CFDs. However, its availability will vary across different countries.
Plus500 is a multi-regulated broker, thus the conditions for service provision differ across regions. For example, U.S. residents can only trade Forex in the form of futures since CFD trading is prohibited. Other divisions of Plus500 offer trading in currency CFDs (over 60 pairs) but vary the available leverage, ranging from 1:30 to 1:300. Additionally, traders registering with branches licensed by CySEC, FCA, and ASIC can undergo a qualification for professional status and receive more advantageous trading conditions.
Plus500 offers a guaranteed stop-loss function, allowing traders to set the maximum permissible value of potential losses. The broker automatically closes a position if the asset's price moves unexpectedly in a direction contrary to the trader's scenario. This protection is available for a selective range of instruments.
We checked the office of the Plus500 brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
169-171 Arch. Makarios III Avenue, Cedars Oasis Tower, Floor 1, 3027, Limassol, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
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Plus500 Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
| 💻 Trading platform: | WebTrader and proprietary mobile applications |
|---|---|
| 📊 Accounts: | Demo, User |
| 💰 Account currency: | CAD, USD, EUR, GBP, CHF, AUD, SGD, JPY, PLN, HUF, TRY, SEK, CZK, NOK, ZAR |
| 💵 Replenishment / Withdrawal: | Visa, Mastercard, e-wallets (Skrill, PayPal, and others), bank transfer |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:30 or up to 1:300 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0,01 |
| 💱 Spread: | From 0.8 pips |
| 🔧 Instruments: | Forex, CFDs on stocks, cryptocurrencies, indices and commodities, real stocks (not available for all countries), futures (for U.S. residents only), options, ETFs |
| 💹 Margin Call / Stop Out: | N/A |
| 🏛 Liquidity provider: | N/A |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market Execution |
| ⭐ Trading features: | Broker fees included in the spread |
| 🎁 Contests and bonuses: | Available in select countries |
Plus500 offers margin trading, but its conditions vary depending on the jurisdiction: for instance, in Australia, the UK, and the EU, leverage is limited to 1:30. Clients from certain countries may use leverage up to 1:300 (for Forex). For all trading instruments, there are variable spreads, and trades are executed at market prices. The broker does not accept or withdraw cryptocurrencies and does not provide Islamic swap-free accounts.
Plus500 Key Parameters Evaluation
Trading Account Opening
In this section, we'll guide you on how to create an account on the Plus500 website and activate access to your user account. We'll also provide a brief guide on its functionality.
First, you need to request the registration form. You can do this by clicking the Start Trading button.
Next, select the type of account you want to open — demo or user. Then, you'll need to enter personal information and provide details about your financial status, followed by uploading copies of documents. The application for opening a user account is processed by the company within 24 hours.
Details of the Plus500’s user ccount:
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A menu block where users can verify the information provided in the form (identity and place of residence).
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Deposit interface for trading account.
A trader registered with the broker also gains access to the following capabilities:
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Accessing the web platform for trading via a browser;
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Modifying or refining personal information, linking bank cards and accounts;
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Submitting a withdrawal request;
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Creating a demo account for trading with virtual funds;
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Communicating with technical support in real-time.
Regulation and Safety
Plus500 is a holding company, and its subsidiaries are regulated in 10 jurisdictions. Among the overseeing bodies are the most authoritative financial supervisory fees, such as FCA (#509909), ASIC (ACN 153301681), and CySEC (#250/14). All of them demand licensees to operate in compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, disclose all fees and risks to clients, provide annual reports, and offer protection against negative balances. Additionally, traders' funds must be held separately from the company's capital in bank accounts, not internal ones. Clients under the control of FCA and CySEC-regulated branches are protected by compensation schemes activated in case of Plus500's bankruptcy or failure to meet its payment obligations.
One of Plus500's subsidiaries, Cunningham Commodities, is also part of the CME Group (the largest derivatives exchange in the U.S.) and is registered with the National Futures Association (NFA).
Furthermore, Plus500's divisions are regulated by the Monetary Authority of Singapore (MAS - #CMS100648-1), the Financial Supervision and Resolution Authority of Estonia (FSAEE), the Dubai Financial Services Authority (DFSA), the Seychelles Financial Services Authority (SFSA - #SD039), the Financial Markets Authority of New Zealand (FMA), and the Financial Sector Conduct Authority of South Africa (FSCA - #47546).
Advantages
- Segregation of client and company funds
- Regular financial audits conducted by Plus500
- Trader's balance cannot go negative due to the use of NBP (Negative balance protection)
Disadvantages
- Compensation schemes available for residents of specific countries
- Regulators FCA, CySEC, and ASIC categorize clients into 2 groups — Retail and Professional
- Cryptocurrency deposits and withdrawals are not available
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| User | From $8 | Broker fee $0 or $10 (depending on withdrawal amount) + payment system/bank fee |
The broker applies an Overnight fee (positive/negative), but there's a grace period before charges apply. Here's a comparison of average fees between Plus500 and brokers consistently highly ranked in the Traders Union.
| Broker | Average commission | Level |
|---|---|---|
|
$8 | |
|
$1 | |
|
$8.5 |
Account Types
Plus500 does not offer a choice of account types. Additionally, the company does not encourage the opening of additional accounts (for example, in another currency), so most of its clients have one main account. However, it's possible to request the opening account — Plus500 allows this action in some cases. In this scenario, the accounts will work autonomously, and the transfer of funds between the main and additional accounts will not be available. How to delete a Plus500 account.
Account Types:
In addition to the user account, Plus500 platforms also offer the option to create a demo account. It is designed for trading with virtual funds. Demo accounts have no expiration date, and when the balance reaches EUR 200, the deposit is automatically replenished.
While Plus500 offers only one account type, the trading conditions vary depending on the client's country and their level of professionalism.
Deposit and Withdrawal
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The primary payment methods include transfers to an electronic wallet, bank account, or card. Skrill and PayPal are available in many countries, although regional restrictions may apply. Additionally, depending on the country, there might be additional systems added to the list of available methods. For instance, for European countries, Trustly and Klarna might be included;
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The broker processes withdrawal requests within 3 business days. There's also a processing time by the bank or electronic system, usually taking up to 7 business days;
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Plus500 doesn't charge a withdrawal fee if the requested amount exceeds the minimum requirements: $300 for cards and bank transfers, and $50 for electronic wallets. If a trader requests a smaller amount, a $10 fee will be deducted.
Investment Options
Collaborating with active traders remains a priority for Plus500. The company does not offer capital management services or register PAMM or MAM account managers. Automated trading is prohibited and not implemented on its platform. Additionally, Plus500 clients cannot earn through social trading or copy trading specifically. However, they have the opportunity to earn additional income by participating in the partnership program.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership Program of Plus500:
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Plus500 partnership provide partners with $200 to $800 for every referred client who opens a user account through their link, deposits funds, and reaches the minimum trading fee limit. The reward amount varies and depends on the partner's country of residence.
Another way to earn is by attracting active partners who will further refer clients. Partners receive a 10% reward from the monthly fees earned by the sub-partner.
Additional Trading Tools
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Economic calendar.
The tool contains a list of economic events and dates that allow traders to use this information in the trading process and adjust their trading strategy in time. The calendar also shows current and previous forecasts for the asset's value dynamics, allowing you to analyze and make better trading decisions.
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Alerts.
Forex Trading Alert provides email, SMS, and Push alerts to execute trades on currency pairs. Plus500 offers free trading alerts across various asset classes, including Forex, Commodities, Stocks, and Indices. Price alerts help you recognize and monitor potential opportunities in global financial markets without interrupting your daily activities. Users can create and manage price alerts for any financial instrument triggered when a specific price is reached or exceeded.
Customer Support
On the Plus500 website, there is a stated schedule for 24/7 support accessibility and its multilingual nature.
Advantages
- Support operates continuously without breaks or weekends
- Quick responses via email
Disadvantages
- Chat is only available for registered traders
- Unable to request a callback
The available support channels depend on the trader's status:
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Clients can use email and Live Chat in their user account;
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Unregistered website users can only contact via email;
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To request assistance via email, filling out the feedback form is necessary, which is located in the FAQs section.
Contacts
| Foundation date | 2008 |
|---|---|
| Registration address | Plus500UK Ltd, 8 Angel Court, Copthall Avenue, London, EC2R 7HJ, United Kingdom |
| Regulation |
FCA, CySEC, MAS, ASIC, FMA, FSA (Seychelles)
Licence number: 509909, 250/14, CMS100648-1, 417727, 486026, SD039 |
| Official site | plus500.com |
Education
The Education section of the Plus500 website offers a wealth of useful information for both beginners and more advanced traders. It includes videos, e-books, articles, an economic calendar, news, and market analysis. The Trading Academy section is designed for individuals taking their first steps into financial markets and need explanations of basic concepts.
The demo mode of the trading platform is the best way to reinforce theory through practice.
Comparison of Plus500 with other Brokers
| Plus500 | RoboForex | Eightcap | Exness | FBS | AMarkets | |
| Trading platform |
Mobile, Web, Desktop | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading | MT4, MT5, AMarkets App |
| Min deposit | $1 | $10 | $100 | $10 | $1 | $100 |
| Leverage |
From 1:1 to 1:300 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.5 points | From 0 points | From 0 points | From 1 point | From 0.2 points | From 0 points |
| Level of margin call / stop out |
100% / 30% | 60% / 40% | 80% / 50% | No / 60% | 40% / 20% | 50% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | $5 | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Detailed review of Plus500
Plus500 has been operating in the financial markets for over 15 years. During this time, it has evolved into an international holding company with offices in 10 countries supervised by local regulators. Plus500's services are available in the EU, Asia, Africa, Australia, and the existence of its subsidiary company, Cunningham Commodities, registered with the National Futures Association, allows Plus500 to legally serve U.S. residents.
Plus500 by the numbers:
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Over 25 million registered traders;
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More than 106,000 new clients in 2022;
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Over 300 million open positions;
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Clients from more than 50 countries.
Plus500 is a broker with strict trading rules and a ban on some active trading strategies
The company offers a wide range of assets and dynamic leverage. At the same time, it prohibits some strategies such as automated trading, scalping, hedging, and insider trading. Plus500 also monitors bonus abuse. All trades that violate the user agreement are canceled, and the broker might close the trading account. All retail clients fall under the negative balance protection.
Plus500 offers proprietary platforms — WebTrader and mobile applications for Android and iOS devices. All versions allow working with market and pending orders, selecting chart display modes, conducting market analysis using over 100 indicators. Traders can also request price alerts via email, push notifications, or SMS.
Useful Functions of Plus500:
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Risk-limiting tools on the trading platform — Guaranteed Stop, Trailing Stop, Stop Limit, Stop Loss;
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Newsfeed with events sorted by tags;
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Alerts for reaching a specific price, changes in interest rates, market sentiment shifts;
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Calendar with important fundamental data and economic events directly impacting asset prices on international exchanges.
Advantages:
Variety of asset classes depending on the functioning and regulation of financial markets in a specific region;
Ability to view the trading activity of Plus500 clients in real-time using the +Insights tool;
Round-the-clock trading support every day of the week;
Company listing on the London Stock Exchange, confirming its stable operation;
Use of SSL cryptographic protocol to encrypt client data;
Plus500's global presence, regulated activity, and a huge client base confirm the reliability of the company and its focus on achieving trading results for registered users.