The Plus500 trading platform is a UK based broker with offices located in the City of London and is authorised and regulated by the Financial Conduct Authority (FCA).
The company is one of the leading providers of Contracts for Difference (CFDs), delivering trading facilities on shares, forex, commodities, ETFs, options and indices, alongside a range of trading technology. Currently the company offers a portfolio of over 2000 instruments as well as offering a range of features and trading tools to help traders better manage their trading accounts including Stop Limits, Stop Loss and Guaranteed Stops, as well as email and push notifications on market events and alerts on price movements and changes.
For traders interested in cryptocurrencies like Bitcoin, Plus500 is one of the few brokers that also offer cryptocurrency CFDs (availability subject to regulation).
When traders open an account, Plus500 hold their funds on a segregated basis, in accordance with the Financial Conduct Authority's client money rules.CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
|Average Spread EUR/USD - Standard||0.6 (as of Aug 2018)|
|All-in Cost EUR/USD - Active||N/A|
|Publicly Traded (Listed)||Yes|
|Trading - Forex or CFDs||Yes|
|Tradeable Symbols (Total)||1896|
|Forex Pairs (Total)||71|
|Virtual Trading (Demo)||Yes|
|MetaTrader 4 (MT4)||No|
|MetaTrader 5 (MT5)||No|
|Social Trading / Copy Trading||No|
|Charting - Indicators / Studies (Total)||110|
|Apple iOS App||Yes|
|Has Education - Forex or CFDs||No|
|Daily Market Commentary||Yes|
|Forex News (Top-Tier Sources)||No|
Pros and Cons
- Used by 300,000+ traders
- Established in 2008
- Regulated by Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546
- Min. deposit from $100
- Doesn’t allow scalping (See alternatives)
- Inactivity Fee
- Limited range of instruments
To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, Plus500 offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 509909), CySEC (Licence: 250/14), ASIC (AFSL #417727), and FMA in New Zealand (FSP 486026). Plus500 puts all client funds in a segregated bank account and uses tier-1 banks for this. Plus500 has been established since 2008, and have a head office in Israel.
Before we dive into some of the more detailed aspects of Plus500’s spreads, fees, platforms and trading features, you may want to open Plus500’s website in a new tab by clicking the button below in order to see the latest information directly from Plus500.
What are Plus500's spreads & fees?
Like most brokers, Plus500 takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on Plus500’s website. The colour bars show how competitive Plus500's spreads are in comparison to other popular brokers featured on BrokerNotes.
As you can see, Plus500’s minimum spread for trading EUR/USD is 0.01% pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Plus500 vs. similar brokers.
What can you trade with Plus500?
Plus500 offers over 2,000 different instruments to trade, including over 61 currency pairs. We’ve summarised all of the different types of instruments offered by Plus500 below, along with the instruments offered by IG and XTB for comparison.
What’s the Plus500 trading experience like?
1. Platforms and apps
Plus500 offer a user-friendly custom trading platform, available as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here.
Plus500 also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
2. Executing Trades
With Plus500, the minimum and maximum trade requirements vary depending on the trader and the instrument.
As a market maker, Plus500 may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Plus500 also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by Plus500 here.
Finally, we’ve listed some of the popular funding methods that Plus500 offers its traders below.
3. Client support
Plus500 support a wide range of languages including English, French, Italian, Spanish, Portuguese, German, Dutch, Polish, Arabic, Hebrew, Danish, Norwegian, Czech, Slovak, Bulgarian and Chinese.
Plus500 has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.
4. What you’ll need to open an account with Plus500
As Plus500 is regulated by Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546 , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore Plus500’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with Plus500 you can visit their website.
What trading platforms do Plus500 offer?
Plus500 offers its clients access to several trading platform applications, compatible with different dekstop, smartphone and tablet devices. These are as follows:
- Plus500 Webtrader (web-based trading application). This can run on Google Chrome, Internet Explorer and Mozilla Firefox.
- iOS Trading application for iPhones and iPads
- Android Trader for Android-based devices
- Windows phone app.
Plus500 WebTrader Interface
The Plus500 Webtrader has a simplified interface which features the asset groups, which can be accessed by the Trade button on the top of the page. It is also possible to view active and closed positions on the navigation bar, just to the right of the Trade button.
The assets that the trader can trade are listed, with each listing showing the Bid and Ask prices as well as the highest and lowest prices for the day. Traders can choose to Buy or Sell an asset by clicking the respective buttons located beside the Bid and Ask prices. The chart for the selected asset is shown below the asset prices. Traders can switch between line charts, bar charts or candlestick charts using the appropriate buttons just located above the chart window.
Plus500 WebTrader Interface
To trade an asset, simply click Buy next to the ask price, or Sell next to the bid price (the prices listed to the left). When these buttons are clicked, a small window opens which shows the asset, the current price, the amount to be invested in the trade, the required margin as well as the stop loss and take profit prices.
Each of these settings can be adjusted, after which the trader can click the trade execution button (which in this snapshot is SELL).
What risk management tools do Plus500 offer?
The following are the risk management tools available on the platforms of Plus500.
‘Close at Profit’ [Limit] or ‘Close at Loss’ [Stop loss] rates
These are basically instructions to close out trades at the stop loss or take profit levels which have been pre-defined during trade setup.
A guaranteed stop loss protects the trader’s capital in the event of a large market gap or a massive slippage. On Plus500, you can use a guaranteed stop only for certain assets. A checkbox will be displayed beside any instrument that supports this facility. A Guaranteed Stop must be selected while setting up a new trade. It cannot be used for active positions.
It is possible to set price alerts to provide notifications when the asset has hit a certain buy or sell price. This function can be seen in the instrument list as a bell icon. Click on this bell open a “Price Alert” screen. The price alert is given to the trader in the form of an SMS, email or push notification.
For instance, if gold is trading at $1205 an ounce, and you think there will be a trade re-entry opportunity at a price of $1,050, you can set a price alert for this price. If the price of gold retreats to this level, you get a notification on the new price. This can be a useful facility for those trading with limit orders.
A trailing stop is a trade protection facility that automatically protects a position from reverse movements while locking in profits when the price moves in the direction of the trade. It is not guaranteed.
A trailing stop moves with the trade when it is in profit territory. In other words, it chases the trade. If the market reverses against the position, it freezes and can also close out the position when the market price hits the trailing stop level.
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more.