Plus500 Review

October 2022

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500 was founded in 2008 and has been showing consistent growth. Their marketing efforts have allowed them to reach a worldwide client base. This CFD broker offers over 2000 instruments in various financial markets. Traders with the platform have access to markets in Forex, Commodities, Indices, Shares, ETFs and Options.

Pros

  • Wide Selection of Financial Markets Including Options
  • Regulated by CySEC & FCA
  • Tight Spreads
  • Customer Support 24/7
  • Professional Trading Account

Cons

  • Limited to Trading on Plus500 Platform Only
  • Inactivity Fees
  • No Automated Trading

Trading with Plus500

Plus500 is regulated by the following financial authorities:

  1. Cyprus Securities and Exchange Commission (CySEC) – Valid in all EU countries
  2. Financial Conduct Authority (FCA) – UK
  3. Financial Markets Authority (FMA) – New Zealand
  4. Financial Sector Conduct Authority (FSCA) – South Africa
  5. Financial Services Authority (FSA) – Seychelles
  6. Monetary Authority of Singapore (MAS) – Singapore


Plus500 is licensed by top-tier regulators such as FCA & the CySEC in Cyprus according to MiFID II regulations. Plus500UK Ltd authorized & regulated by the FCA (#509909). The company is quoted on the London stock exchange and is listed on the exchange’s Main Market for Listed Companies.

Spreads & Fees

In FX Plus500 generates revenue through the bid offer spread, which is the difference between the bid price and the ask price measured in pips. The table below shows the minimum spread for the main currency pairs. This broker offers very competitive spreads for the most traded Major FX pairs, EUR/USD, USD/JPY, GBP/USD, & AUD/USD. The tighter the bid offer spread the lower your trading costs. If you’re looking to trade the main FX pairs then this is a point in their favour.

Conversion fees are also charged for trades in any instrument that has a different currency from your account currency.

You also have the option to get a guaranteed stop loss, available on certain assets. The guaranteed stop loss means your order is exited at the pre-established price always, this is paid for via wider bid offer spreads.

Plus500 Spreads

Note: Spreads are variable and can change depending on the time of day and market conditions. For information purposes only.

Trading Platforms

Plus500 doesn’t allow access to possibly the most popular trading app, Metatrader’s MT4/MT5. Trading is available on the Plus500 proprietary platform, via their website or through their downloadable app for Windows 10. Mobile apps for trading are also available for Android and iPhone or iPad.

Technical indicators are comprehensive but not as extended as they are in MT4 or MT5. There is no access to automated trading either. The web-based app and the downloadable app for windows are exactly the same. Having a web-based platform allows you to access your trading account from any pc.

The design of their app is extremely user friendly and takes very little time to find out how everything works.

Plus500 Trading Platforms

Mobile Trading

Along with the web-based and Windows 10 trading apps Plus500 offers mobile apps for Android and iOS. Effectively allowing you to trade across multiple devices. You will be able to trade and follow your open positions on the go as well as from your pc.

  • Trade across multiple devices – open a position on your desktop and close it from your mobile
  • One-click trading
  • Track your positions at a glance

In today's fast paced lifestyle multi-device availability is a must have for most traders. Being able to check your positions on the go, take actions on open positions, or trade the market any time they are open is an essential feature.

Plus500 Mobile Trading

Prices are for illustrative purposes only

Education

Plus500 has an extensive library of online videos to learn all the basics of trading FX markets and CFDs. There is also an eBook you can download in PDF format, with all the info necessary to make full use of their platform.

Some of the topics covered include:

  • Understanding CFD Trading
  • Asset Classes
  • Bull Vs Bear Markets
  • Margin
  • Leverage
  • Advanced Charting
  • Regulations

The videos are very clear and well designed to give you the basic information you will need to understand CFDs and trading in FX markets. Demo accounts are available to get some training before you start risking your money, and to get a feel as to whether the platform offers what you are looking for. Or, if you are an experienced trader you can make use of a demo account to get a feel as to whether the platform offers what you are looking for.

Research

Research from Plus500 is somewhat limited, yet offers insightful articles on a varied number of subjects from the financial markets. These tend to be more about ongoing concerns within an industry or financial market and less focused on news releases or impacting factors from the day to day news. Neither does it have an ongoing daily market commentary or analysis of events. An economic calendar is available on their website with options to customize countries and periods of coverage.

Trader Support

Customer support earns top points for plus500 with the service offered 24/7. Help is given in many languages amongst which, English, Arabic, Chinese, Czech, Danish, Dutch, French, German, Greek, Hebrew, Italian, Portuguese, Norwegian, Polish, Russian, Spanish, Swedish, Rumanian, Turkish, as well as others.

You can speak to support via:

  • E-mail
  • Online Chat
  • Whatsapp

Verdict

This broker has really competitive spreads for the most traded FX pairs, and other pairs are not too far away from the industry average. The lack of MT4 or MT5 availability is compensated by an extremely easy to use app and an abundance of financial markets to trade in. The weaker features for this broker are the lack of news releases and market analysis in real time, together with the lack of functionality to script your trading ideas. The lack of this feature means it won't be a good fit for traders when if they are thinking of automated trading solutions at some point in the future. This broker seems more suited if you are just starting out for its simplicity. Or, if you are a professional then you will be able to take advantage of the high leverage of the professional account. In both cases, the simplicity of the platform and the very tight spreads makes this broker a valid option.

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.