Plus500 Review 2024

Introduction

Plus500 is a leading online trading platform, established in 2008 and headquartered in Haifa, Israel. Renowned for its user-friendly interface and comprehensive range of financial instruments, Plus500 has carved out a significant presence in the global trading landscape. With its strong emphasis on transparency and regulatory compliance, the platform continues to attract traders worldwide.

Expert Analysis

Plus500 excels in providing an accessible and robust trading environment. Our detailed review of Plus500’s offerings highlights a broker dedicated to simplicity, reliability, and regulatory adherence. Regulated by top-tier authorities, including the FCA in the UK and ASIC in Australia, Plus500 ensures a high degree of safety for traders’ funds.

Plus500 offers a wide variety of trading instruments, including forex, indices, commodities, shares, options, ETFs, and cryptocurrencies. The platform’s proprietary trading software is known for its intuitive design, making it an attractive choice for both novice and experienced traders.

The Pros and Cons

Pros

✔️ Highly regulated by top-tier authorities
✔️ User-friendly proprietary trading platform
✔️ Wide range of tradable instruments
✔️ No commissions on trades
✔️ Competitive spreads

Cons

❌ Limited advanced trading tools
❌ No support for MetaTrader 4 or 5
❌ Inactivity fee after 3 months

Is Plus500 Right for You?

Plus500 is ideal for traders looking for a straightforward and transparent trading experience. The platform is particularly suited for those who prefer to avoid the complexities of more advanced trading systems. Beginners will appreciate the ease of use, while seasoned traders will benefit from the competitive spreads and extensive range of instruments.

What Sets Plus500 Apart?

Several key features distinguish Plus500 from other brokers:

• Regulatory Compliance: Regulated by multiple top-tier authorities.
• No Commissions: Plus500 operates on a spread-only model.
• Proprietary Platform: Known for its simplicity and reliability.
• Extensive Instrument Range: Offers a broad spectrum of trading assets.
• Transparency: Clear and upfront about fees and charges.

Main Features

Trust and Safety

Plus500 maintains a strong reputation for safety and trustworthiness, supported by its regulation under multiple high-standard authorities and robust client fund protection measures.

Regulation

Plus500 is regulated by several prestigious authorities, ensuring stringent compliance and protection standards:

Financial Conduct Authority (FCA), license number 509909 (Tier-1 regulator)

Australian Securities and Investments Commission (ASIC), license number 417727 (Tier-1 regulator)

Cyprus Securities and Exchange Commission (CySEC), license number 250/14 (Tier-1 regulator)

Monetary Authority of Singapore (MAS), license number CMS100648-1 (Tier-1 regulator)

Financial Markets Authority (FMA), license number FSP486026 (Tier-1 regulator)

Financial Sector Conduct Authority (FSCA), license number 47546 (Tier-2 regulator)

Is Plus500 Safe to Trade With?

Plus500 operates under stringent regulatory frameworks, providing a secure trading environment. The broker segregates client funds from operational funds and offers negative balance protection, ensuring that traders cannot lose more than their account balance.

Plus500 operates multiple entities, each regulated by reputable financial authorities, ensuring a varying degree of account security depending on the regulatory body.

For example, clients trading with the UK entity enjoy a high level of regulatory scrutiny under the Financial Conduct Authority (FCA), providing robust protections including a compensation scheme for broker insolvency. Similarly, clients under the Australian entity are regulated by the Australian Securities and Investments Commission (ASIC), which offers strong oversight and protection mechanisms.

Plus500 is also a member of several industry bodies that enhance its credibility and offer additional dispute resolution mechanisms.

To summarize, Plus500 is considered highly trustworthy and stable due to the following factors:

• Over 10 years of operating history
• Multi-asset broker
• All entities segregate client funds
• All entities offer negative balance protection
• Regulation by top-tier authorities (FCA, ASIC, CySEC, MAS, FMA)
• Membership in industry bodies and adherence to high standards of client protection

Overall, Plus500 provides a secure trading environment with varying levels of regulatory protection based on the entity with which clients choose to trade.

Commission and Fees

Plus500 is known for its transparency and cost-effectiveness, operating on a spread-only model without charging commissions on trades.

Commission and Fees Overview

Spread-Based Trading: Plus500 primarily operates on a spread-based model, offering competitive spreads with no additional commission on most trades.

Variable Spreads: Spreads may widen during high market volatility or specific conditions, reflecting the current market environment.

Swap Rates: Overnight positions incur swap rates, which vary by asset and direction of the trade. Plus500 provides detailed information on these rates within the trading platform.

Account Types: Plus500 offers a single account type with a uniform fee structure, ensuring simplicity and transparency for all traders. There are no multiple account tiers with varying conditions.

Transparency: Detailed fee information, including spreads, swap rates, and any other applicable charges, is clearly outlined on the Plus500 website and within the trading platform, ensuring traders are well-informed.

Deposit & Withdrawal Options

Plus500 offers a diverse range of deposit and withdrawal options to cater to its global clientele. Traders can fund their accounts and withdraw profits using various methods, including bank transfers, credit/debit cards, and electronic payment systems. These options provide flexibility and convenience, allowing traders to choose the method that best suits their preferences and location.

Bank Transfers: Plus500 supports both local and international bank transfers, enabling traders to deposit and withdraw funds directly from their bank accounts. While bank transfers may take longer to process compared to other methods, they are a reliable option for larger transactions and international transfers.

Credit/Debit Cards: Traders can use major credit and debit cards, such as Visa and Mastercard, to fund their Plus500 accounts instantly. This option is convenient for smaller deposits and provides quick access to trading funds.

Electronic Payment Systems: Plus500 supports various electronic payment systems, including PayPal, Skrill, and Neteller. These e-payment options offer instant deposits and withdrawals, making them ideal for traders who prioritize speed and efficiency.

Cryptocurrency Deposits: While Plus500 does not currently support direct cryptocurrency deposits, traders can fund their accounts using traditional methods and then trade cryptocurrency CFDs on the platform.

Low Fees and Fast Processing: Plus500 aims to provide cost-effective deposit and withdrawal solutions, with minimal fees and fast processing times. However, traders should review the specific fees and processing times associated with each payment method, as they may vary depending on the chosen option and the trader’s location.

In summary, Plus500’s wide range of deposit and withdrawal options, coupled with its commitment to low fees and fast processing times, ensures a seamless and convenient experience for traders worldwide.

Tradable Instruments

Plus500 offers a diverse range of tradable instruments across multiple asset classes to meet the needs of traders with varying strategies and preferences. These include:

Forex (FX) Pairs: Traders can access a wide range of major, minor, and exotic currency pairs, allowing participation in the global forex market with competitive spreads and fast execution.

Commodities: Plus500 provides a selection of popular commodities such as gold, silver, crude oil, natural gas, and other metals and energies. This allows traders to diversify their portfolios and hedge against inflation or geopolitical risks.

Indices: Trading is available on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and Nikkei 225. This enables speculation on the performance of global equity markets.

Shares (Stocks): Traders can access a broad range of individual stocks from leading companies listed on major stock exchanges. This allows them to trade shares of companies they are familiar with or believe have growth potential.

Cryptocurrencies: Popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more are available for trading, providing exposure to the emerging asset class of digital currencies.

Options: Plus500 offers options trading on various underlying assets, allowing traders to speculate on the direction of price movements with controlled risk.

ETFs: A selection of Exchange Traded Funds (ETFs) is available, enabling traders to invest in a basket of assets and diversify their portfolios.

Contracts for Difference (CFDs): Plus500 also offers CFDs across all the aforementioned asset classes. This enables traders to speculate on price movements without owning the underlying assets.

Overall, Plus500 provides a comprehensive selection of tradable instruments, catering to the diverse needs and preferences of traders across different markets and asset classes.

What are CFDs?

A Contract for Difference (CFD) is a financial derivative product that allows traders to speculate on the price movements of various underlying assets, such as stocks, indices, commodities, or currencies, without owning the underlying asset itself. When trading CFDs, traders enter into a contract with the broker to exchange the difference in the price of the asset from the time the contract is opened to when it is closed. CFDs provide traders with the opportunity to profit from both rising and falling markets, as they can take long (buy) or short (sell) positions.

What Can You Trade with Plus 500?

Account Types

Plus500 offers a single standard account type, ensuring a streamlined and straightforward trading experience for all users. There are no multiple account tiers with varying conditions.

Registration and Account Opening

Opening an account with Plus500 is simple and user-friendly:

1. Visit the Plus500 website and click “Start Trading.”
2. Complete the registration form with your details.
3. Verify your email and phone number.
4. Submit required identification documents for KYC verification.
5. Fund your account using the preferred deposit method.

Restricted Countries

Plus500 does not accept clients from several jurisdictions, including the United States, Canada, and Belgium, due to regulatory restrictions.

Trading Platforms

Plus500 provides its proprietary trading platform, Plus500 WebTrader, and mobile apps for both iOS and Android. These platforms are known for their user-friendly interface and reliability.

Key Aspects of the Platform

• User-Friendly Interface: Designed for ease of use.
• Comprehensive Tools: Includes charts, indicators, and risk management features.
• Mobile Trading: Fully functional mobile apps for trading on the go.
• Web-Based Access: No need for downloads or installations.

Research and Education

Plus500 is committed to providing traders with access to a wide range of research and educational resources to enhance their trading experience. The platform offers a variety of tools, analysis, and educational materials designed to empower traders with the knowledge and skills needed to make informed trading decisions.

Research

Traders using Plus500 have access to several research resources, including:

• Market Analysis: Regular updates on market analysis reports covering major financial instruments, providing insights into current market trends and developments.
• Technical Analysis: Detailed technical analysis reports offering analysis of price movements and chart patterns, helping traders identify potential entry and exit points.
• Economic Calendar: A comprehensive economic calendar highlighting upcoming economic events and their potential impact on the markets, helping traders stay informed about important market-moving events.
• News Feed: Real-time news updates from leading financial news sources, ensuring traders are aware of the latest market news and developments.

Education

Plus500 offers a range of educational resources tailored to traders of all levels:

• Trading Guides: Comprehensive trading guides covering topics such as forex and CFD trading, risk management, and trading strategies, providing valuable educational content for traders.
• Video Tutorials: Step-by-step video tutorials on using the trading platform, placing trades, and implementing trading strategies, helping traders navigate the platform effectively.
• Demo Account: A free demo account allowing traders to practice trading with virtual funds in a risk-free environment, helping them gain hands-on experience with the platform and trading instruments.
• FAQs: A comprehensive FAQ section answering common questions about trading, account management, and platform features, providing valuable information for traders.

Overall, Plus500’s commitment to providing traders with access to research and educational resources demonstrates its dedication to supporting traders’ success in the financial markets.

FAQs

Is Plus500 regulated?
Yes, Plus500 is regulated by several prestigious regulatory authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Monetary Authority of Singapore (MAS), and others.

What trading platforms does Plus500 offer?
Plus500 offers a proprietary web-based trading platform and mobile apps for iOS and Android devices, providing traders with access to a wide range of tradable instruments and advanced trading tools.

What is the minimum deposit required to open an account with Plus500?
The minimum deposit required to open an account with Plus500 varies depending on the jurisdiction and the payment method chosen. However, in general, it is typically around $100 or equivalent in other currencies.

Does Plus500 offer a demo account?
Yes, Plus500 offers a free demo account that allows traders to practice trading with virtual funds in a risk-free environment. The demo account simulates real market conditions and can be used to test trading strategies and familiarize oneself with the platform.

What types of instruments can I trade on Plus500?
Plus500 offers a wide range of tradable instruments across multiple asset classes, including forex (FX) pairs, commodities, indices, stocks (shares), cryptocurrencies, options, ETFs, and contracts for difference (CFDs).

Can I trade cryptocurrencies on Plus500?
Yes, Plus500 offers trading in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more, allowing traders to speculate on their price movements without owning the underlying assets.

What are the trading hours on Plus500?
The trading hours on Plus500 vary depending on the instrument being traded and the market it is associated with. However, in general, trading is available 24 hours a day, five days a week, allowing traders to access global markets at their convenience.

Does Plus500 charge fees or commissions?
Plus500 primarily operates on a spread-based model, meaning that traders pay the difference between the buy and sell prices of an instrument. Additionally, overnight positions may incur swap fees, and certain features or services may have associated fees. However, there are no commissions on trades.

Is there customer support available on Plus500?
Yes, Plus500 offers customer support services via email and live chat. Traders can contact customer support representatives for assistance with account-related inquiries, technical issues, or general questions about trading on the platform.

Can I use Plus500 in my country?
Plus500 operates in multiple jurisdictions worldwide, but there may be restrictions on its services in certain countries due to regulatory requirements. It is recommended to check the list of restricted countries on the Plus500 website or contact customer support for more information.

Customer Support

Plus500 places a strong emphasis on customer support, providing traders with various avenues to seek assistance with their inquiries, technical issues, and account-related queries.

Live Chat: Plus500 offers live chat support, allowing traders to connect with customer support representatives in real-time. Accessible directly through the Plus500 platform, the live chat feature provides prompt responses to questions and concerns, facilitating efficient issue resolution.

Email Support: Traders can also reach out to Plus500 customer support via email. The broker provides dedicated email addresses for different types of inquiries, including technical support, account verification, and general inquiries. The email support team aims to respond promptly and provide detailed assistance to traders’ concerns.

Phone Support: Plus500 offers phone support during business hours, enabling traders to communicate directly with support agents. The phone numbers for Plus500 customer support are available on the broker’s website, allowing traders to discuss their issues or questions in detail with knowledgeable support agents.

FAQs and Knowledge Base: Plus500 maintains an extensive FAQ section and knowledge base on its website, covering various topics related to trading, account management, and platform features. Traders can find answers to common questions and solutions to issues by browsing through the FAQs and articles, facilitating self-help and troubleshooting.

Overall Impression

Plus500 demonstrates a commitment to providing responsive and comprehensive customer support services to its clients. With multiple channels of communication and a wealth of resources available, traders can access assistance conveniently and efficiently. The prompt and effective customer support contribute to enhancing the overall trading experience, fostering trust and confidence in Plus500’s services.

Conclusion

Plus500 stands out for its simplicity, reliability, and comprehensive range of trading instruments. Its user-friendly platform, competitive spreads, and strong regulatory framework make it an attractive choice for traders of all experience levels. Whether you are a beginner seeking a straightforward trading experience or an experienced trader looking for a broad range of assets, Plus500 offers a robust and secure environment.

Information and Features

Trading Features

Further Information

Contact Information