Plus500 Review 2022 - See if Plus500 Is the Right Platform for You
With the development of online investing platforms, it has become easier than ever to trade in the financial markets. The first step in starting your trading career is to decide which brokerage you should use. Brokerages are our gateway into the financial system. They are online platforms that connect buyers and sellers to facilitate a transaction.
Choosing the right broker for you is essential because it impacts everything from the fees you pay to the tools you have at your disposal when trading. With the growing interest in trading and investing, opening an account with a reputable broker is now more vital than ever.
This Plus500 review will examine one of the top brokerages in operation today and highlight the pros and cons of trading with them. Let's get started.
Plus500 at a Glance
|💰 Trading Fees||low|
|📈 Tradable symbols||1800+|
|💵 Minimum deposit||100|
|🧾 Withdrawal fees||0|
|📱 Mobile app||iOS + Android|
|🚀 MetaTrader 4||No|
|🚀 MetaTrader 5||No|
|📗 Demo account||Yes|
|🏫 Educational section||Yes|
|🗞️ News & analysis||Yes|
What is Plus500?
Plus500 is a global platform that offers trading services in the form of contracts for difference (CFDs). As one of the world's leading brokers, Plus500 offers a wide range of products to clients in over 50 countries across the globe. After its founding in 2008, this Israel-based brokerage quickly expanded its operations throughout Europe and the Asia-Pacific with fantastic results. As of 2018, Plus 500 is a publicly-traded online CFD broker listed on the London Stock Exchange.
While no brokerage is perfect, with a comprehensive product line, competitive fees, and a whole host of features, Plus500 offers one of the best overall brokerage services in the CFD trading market today. In fact, Plus500 is considered by some an excellent online broker for advanced traders looking to trade CFDs.
- Easy-to-use platform
- Fast account opening process
- Great customer support
- You can only trade CFD products
- Fees could be smaller
Is Plus500 Secure?
People often talk about the risk involved when trading in the financial markets. Very few mention the risk associated with the brokerage you decide to trade with. When choosing a brokerage to trade with, security should quite rightly be your primary concern. You should always ensure that the financial authority in your jurisdiction regulates the brokerage.
Here is a list of all the licenses that Plus500 has acquired:
- Plus500UK Ltd is authorized & regulated by the Financial Conduct Authority, or FCA (#509909).
- Plus500CY Ltd authorized & regulated by CySEC (#250/14).
- Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).
- Plus500SEY Ltd is authorized and regulated by the Seychelles Financial Services Authority (Licence No. SD039).
- 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.
Plus500 offers biometric authentication for its mobile application and negative balance protection. In the event Plus500 defaults, clients will be compensated under their jurisdiction's financial compensation schemes (in UK, for example, traders are protected under the Financial Services Compensation Scheme).
If you were to perform a comparative analysis of Plus500 vs eToro, you would find that Plus500 is regulated by many of the highest quality regulators despite offering services in fewer countries than eToro. With that much regulation, at Plus500, scams are virtually non-existent.
Platform & Features Review
Plus500 Web Trading Platform
Plus500's bespoke platform and features are accessible across various devices and offered for desktop and mobile. One of the most appealing aspects of Plus500's platform is its proprietary trading platform WebTrader, through which Plus500 online trading is conducted. The WebTrader web trading platform offers clients a streamlined trading experience with an intuitive interface suitable for experienced traders.
With Plus500, you can also trade cryptocurrencies (Availability subject to regulation), although in the form of CFD products. For this purpose, an exchange wallet has now been incorporated into the platform.
Plus500 Mobile Trading Platform
Plus500 has similar software available for download for clients who wish to access their trading platform via mobile or tablet (iOS and Android). The Plus500 app includes all the functionality of the desktop application.
Through the mobile trading platform, new customers can open an account, make a deposit and start trading all the CFD products available on the web platform.
The Plus500 mobile trading app currently has 4.3 stars ratings on both the iOS and Android app stores.
Plus500 Demo Account
The Plus500 demo account is another great feature, especially for inexperienced traders. Clients can access a completely free demo account which they can use to practice various trading strategies before placing any real capital at risk.
Plus500 is committed to the continuing development of its client's trading ability, especially that of its most junior traders. In furtherance of this commitment, Plus500 offers a free demo account and supporting educational materials designed to guide the most junior traders in their trading.
Plus500 Economic Calendar
Lastly, the platform offers an in-built newsfeed and economic calendar so that traders can easily keep up with the latest news and economic data releases without having to exit the platform or rely on any third-party software. This is a feature that is a must for a good CFD broker.
Unfortunately, Plus500 does not support the use of the widely used MetaTrader 4 platform. However, clients will still have access to the highest quality technical analysis charts and a range of technical indicators to support them in their trading.
Plus500 Trading Education
Plus500 offers a comprehensive and convenient education center that is accessible to all clients, regardless of their level of experience. The education center includes a variety of resources, such as video tutorials, webinars, and step-by-step guides. These resources cover all aspects of Plus500's trading platform, from the basics of placing an order to more advanced topics like building a custom portfolio. In addition, the education center is constantly updated with new content, so clients can always stay up-to-date on the latest features and changes. Plus500's commitment to providing high-quality educational resources makes it an ideal choice for those who are looking to learn more about online trading.
See if Plus500 Is a Good Fit for You
Fees & Commissions Review
While it's certainly not the cheapest brokerage on the market, Plus500 has competitive fees, and at the time of writing, does not charge any commissions on trades. The Plus500 minimum deposit currently sits at just $100. You can take a more detailed look at their fee structure in the table below. All amounts are displayed in USD.
- Opening/Closing Trades - $0
- Withdrawls/Deposits - $0
- Currency Conversion Fee - 0.7%
- Inactivity Fee - $10 per month
In addition to the fees listed above, Plus500 also generates income through its trading spreads. Plus500 spreads are variable. Obviously, it will not be possible for us to provide you with specific spreads for their instruments as these spreads will fluctuate throughout the trading day.
What can you trade on Plus500?
Plus500 offers a wide selection of financial products with over 2500 instruments available to be traded on the platform. Let's take a look at the five most popular asset classes they have available to trade.
Stocks: Stocks from some of the world's largest markets are available to be traded with Plus500. Currently, they give traders access to the stock market in 23 countries, including the United States, the United Kingdom, Germany, and Australia.
Cryptocurrencies (Availability subject to regulation) - With Plus500, you can trade some of the most popular cryptos, including Bitcoin, Ripple, Ethereum, and Litecoin. Please note that when trading Plus500 Bitcoin CFDs or any other cryptocurrency CFDs, you do not actually own the underlying asset.
Indices - There are currently 29 indices available to be traded with Plus500. Amongst them are some of the world's most popular indices, such as the VIX and the UK100, and some more exotic indices like HUNG and BGCANG.
Forex - All of the major currency pairs are available on Plus500, like on most forex brokers' platforms. In total, over 70 FX currency pairs can be traded on their CFD platform.
How to Open an Account on Plus500
Opening an account with Plus500 is a straightforward process. To begin, head over to their website.
On their home page, you will see the "start trading now" option on the bottom left-hand side of the screen. Once you select that, you should be directed to the Plus500 login page, where you will be given the option to create an account. You have the option to create an account with Facebook, Email, or your Apple ID.
Once you have opened an account, you will need to deposit funds before you can begin trading. You can do this by selecting "Funds" on the bottom left-hand side of your screen. You can see in the image above that selecting this menu item will give you the option to both deposit and withdraw funds.
Before you can deposit funds into your account, Plus500 will require you to answer some questions relating to your trading and professional experience as well as your financial background.
You will also be required to comply with various KYC regulations that require you to verify your identity using your ID, Address, and Tax ID Number. Once you have complied with these requirements, you will be allowed to begin depositing funds into your account.
Plus500 Minimum Deposit
One of the main attractions of Plus500 is that it offers a very low minimum deposit. For example, the minimum deposit for a standard account is just $100. Although there are brokers with lower minimum deposits, $100 still makes Plus500 an accessible broker.
Trading on Plus500
Now that you have funded your account, you are ready to begin trading. You will have access to all of Plus500's instruments when you select "Trade" in the top left-hand side menu. You can either search for the instrument that you wish to trade in the search bar at the top or manually scroll through the list available on the page.
How to Open a Trade on Plus500
Let’s take a quick example to see exactly how you would open a trade on Plus500. Remember that you can trade from
Here are the steps you need to perform to open a trade:
- Search for the instrument you wish to trade or select it from the list on Plus500
- Select Buy or Sell depending on the type of position you want to open
- Add the size of your position
- Optionally, you can use stop orders (Stop Loss or Take Profit) to automatically close your position.
- When you are done, click ‘Buy.’
- If you want to place a buy order, simply activate the ‘Only buy when rate is’ button.
Remember that, with Plus500, you don’t buy the underlying asset (or the share) – you’re only trading in CFDs. Remember that CFDs are not considered low risk and that retail investor accounts usually lose money when using such instruments.
How to Close a Trade on Plus500
The process of closing a position on the Plus500 trading platform is just as simple. These are the steps:
- First, click on the ‘Open Positions’ button in the menu to see all available positions
- Select your desired position
- Click the ‘Close’ button to close the position
- If you want to partially close a position, click on the ‘Edit’ button and adjust the size of your position
Plus500 Customer Support
Plus500 has an extensive list of Frequently Asked Questions you can browse through in order to find your answers. However, if you cannot find the answer you’re looking for, you can contact customer service through email.
Plus500 Review Conclusion
In summary, Plus500 provides you with all the tools to start trading. Their competitive trading fees, broad product offerings, and well-designed platform best suit experienced traders. In other words, it is ideal for active traders but should not be considered low-risk. If you found this Plus500 review useful and want more information on the best brokerages available, check out our broker comparison page. Here, you can check out other options trading platforms.
On the downside, Plus500, is not really suited for investors, as you will not be buying actual shares of a company - only CFDs. It's also not suited for beginners who only now want to learn how to trade with leverage.
Reviews - Other Brokers
On Sortter.com, you can find reviews for several other trading brokers. To read more about these trading platforms, or other forex broker reviews, simply go to the top of the page and hover over the navigation menu. There, under the 'Investment Brokers' tab, you will find the 'Review' section, which contains all the useful information you need about any online trading platform listed. We review top crypto brokers as well - you will find this information under the 'Crypto Exchanges' tab.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
79% of retail investor accounts lose money when trading CFDs with this provider.
As you can see, most retail CFD accounts lose money. As such, you should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Unsure if this broker is for you?
Plus500 is one of the largest CFD providers in Germany and the United Kingdom. Plus 500 is completely legitimate, and it is regulated by the best financial authorities in the world. Check out the article above for the full list.
Trading with Plus500 can be done only with a few clicks. All you need to do is log into your account, look for an instrument, and open a trade by clicking on Buy or Sell.
To open a position, you need to log into your account and go to the tab Trade. Select what you want to trade, and then click on Buy/Sell. Then, the position screen will open, where you can choose the trade size.
Plus500 allows you to trade CFDs of Commodities, Forex, cryptocurrencies (Availability subject to regulation), stocks, and much more. You need a strong understanding of the financial market in order to trade on Plus500.