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Plus500 Review

  • Regulated by: Financial Conduct Authority (FRN 509909)…
  • Used by: 155+ traders
  • Trust Rating: B
Open Plus500's Website

Losses can exceed deposits. Your capital is at risk.

Plus500 CFDs.

To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, Plus500 offer 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 Derivatives issuer licence in New Zealand, FSP No486026. Plus500 puts all client funds in a segregated bank account and uses tier-1 banks for this. Plus500 have 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.

Open a demo account Visit Plus500

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Your capital is at risk.

Plus500 screenshot

PROS

  • Used by 155+ traders
  • Established in 2008
  • Regulated by Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14)
  • Min. deposit from $100

CONS

What are Plus500's spreads & fees?

Like most brokers, Plus500 take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum fixed 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.

Plus500 variable spread is not available. If you believe this is incorrect please fill in our form

Speads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Plus500's minimum spread for trading EUR/USD is 0.60 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Plus500 vs. similar brokers.

See all Spreads Your capital is at risk.

How much does Plus500 charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Plus500 at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $15.4. Here’s a rough breakdown of the fees and how this compares against AvaTrade & XTB.

Plus500 AvaTrade XTB
Spread from: $6.00 $7.00 $2.00
Typical overnight fee: $9.40 $5.00 $7.94
Commission: $0.00 $0.00 $8.00
Total cost of a 100k trade: $15.4 $12 $9.94
$3.4 less $5.46 less
Visit Plus500 Visit AvaTrade Visit XTB

Your capital is at risk. All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018.

General Fees

  • Plus500 does charge inactivity fees
  • Plus500 doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$9.40
  • The rollover fee for short positions on EUR/USD is -$0.0004%

Commissions

  • Plus500 doesn’t charge commission on CFD shares

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 AvaTrade and XTB for comparison.

FX / Currencies Plus500 AvaTrade XTB
# of forex pairs offered 61 59 50
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs Plus500 AvaTrade XTB
# of commodities offered 17 16 0
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs Plus500 AvaTrade XTB
# of Stocks offered 1816 99 1500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Plus500's Instruments See AvaTrade's Instruments See XTB's Instruments
Your capital is at risk.

What’s the Plus500 trading experience like?

1) Platforms and apps

Plus500 offer a user-friendly custom trading platform, available as both a downloadable program or as a broswer based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here

Plus500 Screenshot See Plus500's Platforms

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.

See Plus500's platforms Your capital is at risk.

Trading Features:

  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Accounts offered:

  • Demo account
  • Standard account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

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 have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, Plus500 offer margin up to 0.0025 on currencies.

Plus500 also offers a number of useful risk management features, such as stop losses (), limit ordersnegative balance protectionprice alerts and much more. You can see all of the account features offered by Plus500and much more. You can see all of the account features offered by Plus500here.

Finally, we’ve listed some of the popular funding methods that Plus500 offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • PayPal
  • Skrill
  • Payoneer

3) Client support

Plus500 support a wide range of languages including English, Italian, German, French, Greek, Hebrew, Dutch, Arabic, Polish, Chinese, Bulgarian, Croatian, Czech, Danish, Estonian, Finnish, Hungarian, Korean, Latvian, Lithuanian, Malaysian, and Norwegian

Plus500 have a BrokerNotes triple AAA support rating because they offer a wide range of languages, live chat, phone and email support.

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), 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 here.

An insider look at trading with Plus500

If you’re wondering how Plus500 works or just want to see inside their platform, you can watch the following video by Plus500.

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 trader, which is the desktop application that can be downloaded onto computers that run on Microsoft Windows.
  • Windows 10 Trader, specifically built to run on Windows computers that run on Windows 10 software.
  • 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.

How to trade on Plus500

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.

Account Leverage

With Plus500, the trader can adjust the leverage as desired. So it is possible to use a leverage of 1:20 in one trade, and 1:50 in another.

‘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.

Guaranteed Stop

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.

Price alerts

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.

Trailing Stop

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.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.plus500.co.uk/ on May 9, 2018.