Plus500 Review 2020

Plus500 Summary

Plus500 is a CFD and Forex broker that was established in Israel in 2008. Plus500 is a very safe and secure Forex broker, which is why it is one of the most trusted and globally refined Forex brokers across the world.

This Plus500 broker review is an in-depth analysis that outlines the features of Plus500 and the benefits that could come from it.

Plus500 is a brokerage firm that specializes in CFD; it was established in Israel in 2008.  Many clients claim that Plus500 is very safe and secure, which is why it is one of the most trusted and globally refined brokerage firms across the world. Currently, they have various branches all around the globe; their branches are in places like Cyprus, UK, Australia, Singapore, and many other places throughout the world map. Plus500 has over 317 thousand active clients, where they keep their funds safe and their identities private.

Plus500 Main Features
🛍️Established in:
2008
🛍️Headquarters:
Israel
⚖️Regulations:
UK, FCA, ASIC, MAS, CySEC
⚖️Country of regulation:
UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel, Seychelles
💰Minimum Deposit:
$100
🎮Platforms:
Plus500 trading platform
🎮Demo Account Available:
Yes
💱Leverage:
1:50
💰Withdrawal fee amount:
$0
💰Inactivity Fee:
Yes

Pros

  • Regulated by multiple tier 1 regulators
  • Provides negative balance protection
  • No withdrawal and deposit fee
  • Low minimum deposit required
  • User-friendly platform design
  • Available 24\7 customer service
  • Demo Account offered

Cons

  • Inactivity fee required
  • Limited educational sources
  • No phone support available
  • Does not have a banking license

Background

In 2008, Plus500 was founded as a CFD and Forex broker, launching its online trading platform. Two years later, Plus500 launched its web-based version and in 2011, Plus500 created a mobile trading platform. In 2018, Plus500 Ltd’s shares were listed for trading on the London Stock Exchange’s Main Market for Listed Companies.

Safety & Regulation

Plus500 is currently regulated by more than four different financial regulators around the world. This shows that this Forex trading broker is safe and reliable for traders. In addition, Plus500 offers negative balance protection and offers its financial information to the public.

This Plus500 review will highlight the different financial regulators that approved Plus500 and the security measures taken for active Plus500 traders.

Pros

  • Regulated by multiple tier 1 regulators
  • Provides negative balance protection
  • Offers its financial information to the public
  • Conducts regular audit reports to remain transparent
  • Listed for trading on the London Stock Exchange’s Main Market for Listed Companies.\

Cons

  • Does not have a banking license

Regulation

Plus500 is known as a trademark that operates under Plus500 Ltd, which is authorized by the jurisdiction of several financial regulators. Plus500 is a trading application that is authorized and regulated by these financial regulators, the Cyprus Securities and Exchange Commission (#250/14) (CySEC), the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority (FMA) of New Zealand, the Financial Sector Conduct Authority (FSCA) of South Africa, the Monetary Authority of Singapore (MAS), the Israel Securities Authority (ISA) and the Seychelles Financial Services Authority (FSA).

This Forex broker operates under the execution of strict security procedures of trading performance established by several different regulatory agencies. Also, Plus500 Ltd is listed on the Main Market of the London Stock Exchange, where it is displayed with a quality Forex background.

Protection

Aligning with the CySEC, FCA, ASIC, and other financial authority regulatory agencies, Plus500 is obliged to abide by security instruments to protect client information and client funds. This means that this Forex broker provides the maximum protection of clients’ funds through different tools, as well as implementing security procedures under any situation. The clients’ funds are put into segregated accounts, so Plus500 utilizes its own funds for business purposes.

Furthermore, it provides negative balance protection, in the case that the client funds are in the negatives. Additionally, this Forex broker conducts regular audit reports and offers its financial information publicly. Many financial regulatory agencies constantly audit their records to ensure that they are transparent and strict about their policies.

Plus500 Fees

Plus500 offers tight spreads and low trading fees, two of the most essential benefits for active traders. In addition, Plus500 does not require any deposit or withdrawal fees. However, an inactivity fee and an overnight fee are required.

This Plus500 review will provide a comparative analysis between Plus500 and two other Forex trading brokers.

Pros

  • Low trading fees
  • Low non-trading fees
  • Tight spreads
  • No commission charged for trading

Cons

  • Inactivity fee required
  • Overnight fee required

Trading Fees

Plus500 offers low trading fees, with no commissions charged on any trades. You will find that Plus500 implements transparent fee structure, where they show how the fees are structured. Plus500 offers built in spread with no commission on both trading accounts. In fact, the spread for this Forex trading broker is one of the tightest spreads in the trading industry.

Non-Trading Fees

With Plus500, they have low non-trading fees. They do not charge for deposits, so you will not have to worry about deposit fees. However, withdrawing funds from your account is another idea. The first five withdrawals of the month are free with Plus500, but after the first five you will be charged a small fee that you need to pay with each withdrawal. The withdrawal fee after the first five is 10USD.

You will have to consider the overnight fee, which is a requirement with Plus500. The overnight fee is subtracted from the trading account on a percentage basis. Also, there is an inactivity fee of up to ten dollars is charged, if you did not use your trading account for three months.

Leverage

With the different financial regulators around the world and their jurisdictions, Plus500 is required to accommodate the different leverage levels for active traders. This Forex trading broker offers a maximum leverage level up to 1:30 for European and UK clients, 1:50 for Singaporean clients, and 1:300 for Australian clients.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

Plus500 Fees Compared To Competitors
Plus500 eToro  XM
Account Fee No No No
Inactivity Fee Yes Yes Yes
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 5USD 0USD

Account Opening

Plus500 offers two different trading accounts, which are: the Retail Account and the Professional Account. You will be required to make a minimum deposit of 100USD for both trading accounts. The account opening process is a fully digital and fast process that will take less than 24 hours to activate.

This Plus500 review will provide a step-by-step guide on how to open a Plus500 trading account.

Minimum Deposit

Plus500 offers two different trading accounts: the Retail Account and the Professional Account. Both trading accounts require a minimum deposit of 100USD from active traders who conduct financial transactions via debit\credit card. For bank transfers, an active trader is required to make a minimum deposit of 300USD.

Pros

  • Fully digital and fast account opening process
  • Two different trading accounts available
  • Low minimum deposit

Cons

  • None

Plus500 Trading Accounts

The Retail Account is the main trading account for active traders, but if you want to upgrade your trading account, you can apply for the Professional Account. In order to be eligible for the Professional Account, you have to meet two out of the three criteria. You will either need sufficient trading activity in the past 12 months, a financial portfolio worth over 500,000EUR, and\or relevant experience in the trading industry.

How To Open a Plus500 Trading Account

Step One: Choose whether you want a Demo Account or a Real Account. 

Plus500: how to open an account -1

STEP ONE: Choose whether you want a Demo Account or a Real Account.

Step Two: Create an username and password for your trading account.

Plus500: how to open an account -2

STEP TWO: Create an username and password

Step Three: Start trading by depositing funds into your account.

Deposit & Withdrawal

Plus500 offers different account base currencies with no deposit fee and no withdrawal fee. You will find that the withdrawal process is slow, but the deposit process is fast and easily accessible.

This Plus500 review will list the different deposit and withdrawal methods offered to active traders.

Account Base Currencies

Plus500 offers a variety of account base currencies, which is a benefit for active traders of Plus500. This Forex broker provides fourteen account base currencies, which are: USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, and SGD

USD GBP EUR CHF AUD JPY PLN
HUF CZK CAD SEK NOK TRY SGD

Deposits

Plus500 deposits do not require deposit fee and it takes approximately one to three business days. You will be able to use over fourteen different account base currencies for your trading account throughout multiple deposit methods. The deposit methods available for Plus500 active traders are: Debit\Credit Card, Bank Transfer, and Electronic Payment.

Pros

  • No deposit fee
  • Variety of deposit methods
  • Fast deposit process
  • Different account base currencies

Cons

  • None

Plus500 Deposit Options

  • Debit\Credit Card
  • Bank Transfer
  • Electronic Payment

Withdrawal

The withdrawal request takes normally three to five business days. Plus500 has a free of charge withdrawal fee, where the trader requests to withdraw more than the minimum amount. All withdrawal methods have a required minimum withdrawal amount, typically 100USD. You will be able to use different withdrawal methods such as: debit\credit card, bank transfer, and electronic payment with different account base currencies.

Pros

  • Different withdrawal methods
  • No withdrawal fee
  • Various account base currencies

Cons

  • Slow withdrawal method

Plus500 Withdrawal Options

  • Debit\Credit Card
  • Bank Transfer
  • Electronic Payment

Trading Platforms

Plus500 offers active traders an in-house trading platform with a web version and a mobile application. You will not find a desktop trading platform.

This Plus500 review will highlight the main features of the different formats of the Plus500 in-house trading platforms.

  • Plus500 in-house Trading Platform

Web Trading Platform

With Plus500 web trading platform, you will find that there are basic order types that you can execute while trading. The order types are: Market, Limit, Stop, and Trailing stop. These are all available for the web trading platform, and for the mobile application. There is no desktop trading platform available for Plus500.

In regards to security, Plus500 ensures the safety of clients’ information and provides as much verification measures as they can. This trading services provider offers a two-step login process, and they offer Google and Facebook authentication is also available for traders.

With Plus500, you can set up email alerts and notifications so that you can be notified whenever a price reaches a specific level or changes took place from a set percentage. You will also be alerted on any changes in the trading platform, which is a feature that is not available in most brokers.

Overall, the Plus500 web trading platform is easy to navigate and it provides you with all the necessary requirements to trade with. You will also have the option of a two-step login, to further verify your account and to avoid any fraudulent activity.

Pros

  • Basic order types available
  • Two-step login process offered
  • Authentication available for traders
  • Notifications and alerts provided
  • Easy to navigate and well-designed trading platform

Cons

  • None

Desktop Trading Platform

     There is no desktop trading platform available for Plus500.

Mobile Trading Platform

With Plus500 mobile trading platform, you will find that there are basic order types that you can execute while trading. The order types are: Market, Limit, Stop, and Trailing stop. These are all available for the mobile application and the web trading platform.

In regards to security, Plus500 ensures the safety of clients’ information and provides as much verification measures as they can. This trading services provider offers a two-step login process, and they offer Google and Facebook authentication is also available for traders. You can also use biometric authentication as a form of logging in.

With Plus500, you can set up email alerts and notifications so that you can be notified whenever a price reaches a specific level or changes took place from a set percentage. You will also be alerted on any changes in the trading platform, which is a feature that is not available in most brokers.

Pros

  • Basic order types are available
  • Two-step login process offered
  • Authentication available for traders
  • Notifications and alerts provided
  • Easy to navigate and well-designed application

Cons

  • None

Markets & Financial Instruments

Plus500 offers seven different asset classes and more than 2,000 different financial instruments. This Forex broker has one of the largest groups of financial instruments in the trading industry.

This Plus500 review will highlight the different asset classes available for you.

Pros

  • Different asset classes available
  • Various financial instruments provided
  • Cryptocurrencies offered

Cons

  • None
What Plus500 Offers
Forex Indices
Stock ETFs
Commodities Cryptocurrencies

Markets Research & Trading Tools

Plus500 offers different trading tools and market research materials for active traders to use, in order to enhance your trading knowledge and trading skills. You will be able to use the economic calendar and a Key Information Document (KID) for your benefit, but you have to be a trader with Plus500.

This Plus500 review will inform you on the different market research materials and trading tools available.

Trading Tools

Plus500 has several trading tools that will help you while trading, so you do not end up falling into a financial mishap. You will find that each tool will be useful one way or another, putting you at an advantage while you apply your trading strategies while you trade.

The economic calendar tool is a calendar with all of the most important and relevant trading events taking place all over the world; this way you are updated with the when and where of any economic event and you can plan accordingly. The Risk Management Tool is an asset that allows you to limit your losses and put a cap on your trading, so you will stay in the safe zone; you can do that by putting the order of Stop Limit, or other order types, at a specific price level.

Plus500 Tools
Economic Calendar Tool Risk Management Tool
Alerts

Pros

  • Economic calendar tool is updated on past and future economic events
  • Risk management tool provides safety measures for traders

Cons

  • Limited trading tools available

Market Research

Plus500 offers a Key Information Document (KID) that defines the basic procedures of every accessible trading tool and the jeopardy that is linked with trading it. The KID has a summary on all their products that are traded; these are commodities, crypto-currencies, ETFs, Forex, indexes, options, and equities.

With Plus500, you will find that there are many resources but there are most basic tutorials. The tutorials are all basic and they do not provide visual aid and advanced how-to guides. They mostly show you the basic procedures on how to trade and certain trading strategies.

The most important aspect of the educational resources is that they provide an unlimited Demo Account, which will educate you on a hands-on approach on how to use the broker and the trading platform.

Pros

  • Key Information Document provides assessment for all trading options
  • Basic tutorials available

Cons

  • Limited market research materials available

Customer Service

Plus500 offers you a fast and reliable customer service team that is available 24\7. You will be able to contact them through different means of communication, including live chat, emails, and a Contact Forum.

This Plus500 review will provide an in-depth analysis of the customer service support team and their performance.

With Plus500, you can reach their customer service through several ways. You can use their live chat, send them an email, or send them a question through their Contact Us Forum. Although they do not have a phone support service, the fact that they are fast at responding and their answers to your questions are relevant makes up for the lack of service. The customer service of Plus500 is also available 24\7, even after the financial markets are closed for the business day.

Pros

  • Available 24\7
  • Fast and reliable customer service team
  • Accurate responses

Cons

  • No phone support

Means Of Communication

  • Live Chat
  • Email Support
  • Contact Forum

Since the customer support is available 24\7, many traders felt like they were attended to. Many traders have claimed that their overall trading experience was influenced by the customer support service; because they knew that they could contact the service at any time. The customer support service was also very fast and their responses were all accurate and relevant to the questions being asked, which is why many traders have given a positive Plus500 review.

Client Education

Plus500 offers two main educational resources: the Demo Account and general educational videos on basic trading topics. This Forex trading broker does not provide many options in the educational department, but you can get all the information you need from the Plus500 Demo Account.

This Plus500 review will give you a step-by-step guide on how to open your own Demo Account.

Pros

  • Demo account available
  • Educational videos offered

Cons

  • Limited educational resources
  • No videos on platform tutorials

With Plus500, the best way to learn how to use the trading platform and how to trade international capitals is by trying it out for yourself. You will be able to trade with currency pairs, CFDs, cryptocurrencies, and many other assets without facing any financial loss via the Plus500 Demo Account.

Client Education Resources

  • Educational Videos
  • Demo Account

How To Open a Demo Account

Step One: During the registration process, you will choose between a Real Account and a Demo Account. 

Plus500: how to open an account -1

STEP ONE: Choose whether you want a Demo Account or a Real Account.

Conclusion

Plus500 is a trading service provider that specializes in CFD and Forex trading that was established in Israel in 2008.  Plus500 is known as a trademark that operates under Plus500 Ltd, which is authorized by the jurisdiction of several financial regulators. These financial regulators include Cyprus CySEC, UK’s FCA, MAS in Singapore, and Australian ASIC. , Plus500 offers two trading accounts, tailored to the trader’s expertise. You also have the option to choose an unlimited free Demo that can be converted into a real trading account that becomes live.

Overall, Plus500 is a very safe and secure broker with a reputation as one of the most trusted and globally refined brokerage firms across the world.

Plus500
$100
Min. Deposit
N/A
Bonus
Regulated byUK, FCA, ASIC, MAS, CySEC
Leverage1:30
Customer Support24/5
Open Account

Plus500 Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is Plus500 A Good Broker?

Plus500 allows retail and professional clients to trade CFDs on a range of commodities, where their financial services are available in more than 50 countries. They also have quality technical support in thirty two languages, where they offer 24\7 assistance for their clients, giving them a generous response from their clients who appreciate their attentiveness.  Also, Plus500 constantly enhances their financial services, provides their clients with fair and just trading conditions, and they have developed many programs that are top-of-the-line programs that are recommended for large communities, traders, and associations.

Is Plus500 Legit?

Aligning with the CySEC, FCA, ASIC, and other financial authority regulatory agencies, Plus500 are obliged to abide by security instruments to protect client information and client funds. This means that this Forex broker provides the maximum protection of clients’ funds through different tools, as well as implementing security procedures under any situations. The clients’ funds are put into segregated accounts, so Plus500 utilizes its own funds for business purposes.

Furthermore, it provides negative balance protection, in the case that the client funds are in the negatives. Additionally, this Forex broker conducts regular audit reports and offers its financial information publicly. Many financial regulatory agencies constantly audit their records to ensure that they are transparent and strict about their policies.

How Long Do Plus500 Withdrawals Take?

Plus500 withdrawals can take approximately 3-5 business days.

What Is The Minimum Deposit For Plus500?

Plus500 offers two different trading accounts: the Retail Account and the Professional Account. Both trading accounts require a minimum deposit of 100USD from active traders.

Is Plus500 Regulated?

Plus500 is known as a trademark that operates under Plus500 Ltd, which is authorized by the jurisdiction of several financial regulators. Plus500 is a trading application that is authorized and regulated by these financial regulators, Cyprus’s  Cyprus Securities and Exchange Commission (#250/14) (CySEC), the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority (FMA) of New Zealand, the Financial Sector Conduct Authority (FSCA) of South Africa, the Monetary Authority of Singapore (MAS), the Israel Securities Authority (ISA) and the Seychelles Financial Services Authority (FSA)

Is Plus500 An ECN Broker?

No, Plus500 does not provide ECN Accounts.

Is Plus500 Safe?

Plus500 is a regulated and globally-acclaimed Forex broker that is licensed by more than four of the best financial regulators in the world. Plus500 offers negative balance protection and conducts regular audit reports for trading transparency.