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Plus500 general information
|Founded in:||2008 year|
|Offices in the country:||Australia, United Kingdom, Cyprus|
|Minimum Deposit:||100 $|
|Deposit currency:||USD, EUR, GBP|
|Mobile trading:||iOS, Android, Windows Phone|
|Types of offered accounts:|
- Web-based platform
- Guaranteed stop loss
Plus500 Forex broker description
Plus 500 is an online forex trading company with its headquarters in Israel. Plus 500 was established in 2008 and over the years it has been able to establish its name as among the most credible brokers globally. Its global presence has further been facilitated by it having a lot of subsidiaries worldwide I various countries.
For one to be able to trade with plus 500, you will require a trading account that you will sign up for in the plus 500’s online platform. The firm has two trading accounts which are the demo account and the standard trading account. All of these accounts have been specially designed to meet the individual needs of the various clients who have or want to trade with plus 500.
The Plus 500 Demo Trading Account
The demo trading account just as the name implies is a trading account that will allow you to demonstrate and learn the key skills in trade execution in forex trading. The demo account has been designed to meet the needs of traders who have little or no experience in trading and want to know of the concept of trading and how it is carried out. The demo account will help one in learning step by step how to trade and also the various conditions of trading. As a bonus, one will be able to execute trades but will not incur any losses as they will use virtual funds.
The Standard Trading Account
The standard trading account is an account type that has been designed to meet the needs of all traders signed up to plus 500 irrespective of skills or knowledge. In other words, this account type is one that is suited for all persons that want to trade with plus 500. Among the features of this account type include:
- Access to a wide range of trading instruments from cryptocurrencies, indices, commodities, and shares.
- Leverages of up to 1:300.
- No commission is charged at all.
- Fast execution speeds.
- Negative balance protection.
- Has the stop loss order.
The Company. Security Of Funds.
Plus 500, as earlier indicate is an Israeli owned firm that has vast experience in the forex trading sector having been around for almost a decade. This has put it in a position to be able to produce well-crafted products to its many clients in terms of favorable trading conditions in the foreign exchange sector. Due to this favorable terms, it has been able to amass a lot is scores of clients worldwide and has expanded to have offices and subsidiaries in other countries such as the United Kingdom, Cyprus, Singapore and Bulgaria among many others. This influx in clients from differ parts of the globe have brought the need to incorporate many different languages to cater for them and these include English, Chinese, French, Danish, Arabic, and polish among many other languages. This is to enhance the communication of all clients with interest in the product.
With client satisfaction being their priority, it would not be a surprise to note that plus 500 have invested in a very professional workforce that is dedicated to serving their clients to the uttermost. The staff ensures that any issue put forward by any customer is sorted out and will also occasionally offer advisory services to the clients. This is evident in the plus 500 customer reviews and comments that is full of praise to the operation mode of this firm.
Pus 500 is a credible and legitimate firm that has all its operational licenses valid and in order. This is further boosted by its listing in the prestigious London stock exchange. It has valid operation licenses from the following regulatory bodies:
- A valid operating license from the United Kingdom’s financial conduct authority (FCA).
- The Cyprus Securities and Exchange Commission (CySEC) has licensed pus 500 in Cyprus.
- A valid license from the monetary authority of Singapore (MAS)
- A valid license from Israel’s Israel securities authority (ISA).
- A license from Australia’s Australian securities and investment commission (ASIC).
In keeping up with the set regulations from the regulatory authorities, plus 500 has put up some strict measures to guarantee the safety of clients’ funds bestowed upon them. Among the measures put across include:
- Use of segregated bank accounts away from the company’s funds.
- The company uses its own funds for hedging.
- No exposure to sovereign or corporate debt.
- Does not invest the funds of retail clients.
No commissions are charges at all while trading with plus 500.
Plus500 is a CFD broker operating out of the United Kingdom. A huge accomplishment for this company is that it is a FTSE 250 listed brokerage, which brings with it the respect and prestige that many smaller brokers have not earned.
The background of the founding team is in technology, and the broker’s proprietary platform is the crowning accomplishment of this team. In addition to the pride it has about its trading platform, Plus500 is proud to display its impressive ratings at Google Play and in Apple’s App Store, which they trumpet as a measure of their popularity. The broker does not provide research or education, but they attempt to compensate by offering a trading platform that is extremely easy to use.
Regulation and Security
Plus500 is among the most highly-regulated brokers in the world, which is a huge advantage for traders wishing to trade with a reliable broker that is based locally. The primary regulator of Plus500 is the Financial Conduct Authority (FCA) in the UK which is counted among the strictest and most reliable Forex brokers in the world. Traders are protected under the Financial Services Compensation Scheme (FSCS), up to £85,000, as per regulatory requirements. This brokerage also operates a subsidiary regulated by the Cyprus Securities and Exchange Commission (CySEC). Plus500 is, therefore, under the Financial Instruments Directive 2020/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive. Traders are protected by the Investor Compensation Fund (CIF) with maximum coverage of €20,000, as stipulated by the EU Directive 2020/49/EU.
Plus500 also serves traders through regulated entities in Australia, regulated by the Australian Securities and Investments Commission (ASIC), in New Zealand under supervision of the Financial Markets Authority (FMA), in South Africa authorized by the Financial Services Board (FSB), and in Singapore regulated by the Monetary Authority of Singapore (MAS). The brokerage also has an Israeli branch regulated by the Israel Securities Administration. Per regulatory requirements, client funds remain segregated from company funds. Plus500 is serving traders from a proper regulatory framework (or, more precisely, several regulatory frameworks), and traders may trust this broker with deposits.
The FCA is the primary regulator of Plus500 in the UK.
Additional entities are managed across several regulatory environments.
Plus500 derives the majority of its revenues from spreads charged on over 2,000 assets. Trading costs for currency pairs are competitive, with the EUR/USD listed at 0.6 pips, and no commissions are charged by this broker. Some asset classes are priced higher than other brokers, so it’s a good idea to check before placing your trades, if you maintain multiple brokerage accounts. If not, you can rest assured that Plus500’s fees aren’t among the highest in the industry, and that some super-low fees will balance out the more expensive ones.
Swap rates on overnight leveraged positions apply. Traders can access the precise amount from inside the proprietary trading platform by clicking on “Details” next to the asset. Some traders have complained that swap rates at Plus500 are higher than those at other brokers, but we could not verify these claims during this Plus500 review. Corporate actions, like dividends, splits, and mergers, are passed on to traders. An inactivity fee of $10 per month applies if the account has been dormant for three months. While this may sound like an annoying fee, other brokers charge as much as $50/month as an inactivity fee, so Plus500’s fee is considered on the low side. A 0.3% currency conversion fee, as well as third-party payment processing fees, complete the fee structure at Plus500.
Trading costs are competitive for pure Forex trader, though fees on other assets may be higher. Plus500 does provide good transparency regarding trading fees.
What Can I Trade
Asset selection at Plus500 is excellent for retail traders through small portfolio management operations. Over 2,000 CFDs are provided across the Forex market, cryptocurrencies, commodities, equities and indices, ETFs, and options markets. Traders can properly diversify portfolios and take advantage of trading opportunities across the global financial spectrum.
Forex traders can suitably manage currency-only portfolios in a cost-effective trading environment through more than fifty currency pairs.
Cryptocurrency selection is sound and exceeds essential names, an area where Plus500 outperforms many retail brokerages.
Commodities are effectively presented and offer proper hedging capabilities for traders.
Index CFDs provide traders with a useful diversification tool and complements the equity CFD selection.
ETF CFDs support passive trading, a growing trend across portfolios.
Options complete the cross-asset trading environment at Plus500.
Plus500 provides the same CFD account to all traders, while a professional account is available if two of three requirements are fulfilled. Different services are offered for traders with a pro account, as is common in today’s industry, and required by many regulators. Leverage for the standard account is limited to 1:30, but professional portfolios enjoy an upgrade to 1:300. The Australian entity regulated by ASIC grants leverage of 1:300 for standard accounts and presents the best choice for relevant traders.
Qualified traders may ask for an upgrade to a professional account.
Plus500 provides traders with only its proprietary trading platform, which is a surprising strategy considering the popularity of the MetaTrader suite of platforms. The platform was designed with novice traders in mind, and is touted as one of the most user-friendly platforms in the industry. The plus side (no pun intended!) is that new traders can place trades easily and navigate through different assets smoothly. The downside is that automated trading is not supported, third-party plugins are unavailable, and critical trading functions for advanced traders are largely absent.
While it would be nice for Plus500 to offer the MetaTrader 4 platform, that platform is available at most brokers, and it’s somewhat refreshing to see Plus500 stand by its principles to offer something unique and solid.
As mentioned earlier, the most unique offering of Plus500 is its trading platform and impressive choice of tradable assets.
Though 2020 numbers weren’t yet available at the time of this Plus500 review, the 2020 numbers published by the company are in fact impressive.
Research and Education
Unfortunately, there is no research offered by Plus500. The company does offer a limited education section called the Trader’s Guide, which has a few videos that can help traders get started. They also have a fairly comprehensive Risk Management section which explains to traders how to best mitigate their risks while trading. Some brokers have made the case that advanced traders don’t need education, as they already know how to trade, and there is some validity to this claim. However, since Plus500’s platform is relevant to traders at all levels, it would be nice if the company would expand their educational offerings.
Clients have access to customer support 24/7 via live chat or e-mail, which is nice, as most brokers only offer support 24/5. An FAQ section covers the most basic questions. The website covers thirty-two languages, and customer support is equally multi-lingual. Broadly speaking, most traders never require assistance from a broker’s support team. In case the need arises, Plus500 provides adequate support capabilities, highly rated by over 8,100 ratings.
Bonuses and Promotions
Plus500 does not offer bonuses or promotions to its traders, in keeping with regulatory requirements.
Opening an Account
Account openings are processed through online applications, as is the standard operating procedure across the brokerage industry. Plus500 requires an e-mail address and password for the first step of the account opening process. Traders may login with their Google or Facebook accounts, which is a nice, easy touch. New traders need to submit a copy of their ID and one proof of residency document to complete the AML/KYC verification process, as stipulated by regulators. With high regulation and connections to some of the most trustworthy apps and services on the internet, traders may trust this broker with their information.
Deposits and Withdrawals
Plus500 supports bank wires, credit/debit cards, Skrill, and PayPal. Regional payment methods may be available, but full details can be seen only from inside the trading platform, due to geotargeting efforts (so that traders aren’t bothered by irrelevant information). Processing times and potential fees are not provided. In compliance with AML requirements, the name on the trading account and payment processor need to be the same. Withdrawals are processed the same route as deposits. The deposit and withdrawal procedures mirror those at other brokerages, and appear to be in keeping with industry standards.
- Broker’s Name : Plus500
- Headquarter : United Kingdom
- Regulation : CySEC, FCA, ASIC, FMA, FSB, MAS
- Type of Broker : Market Maker
- U.S. Clients Allowed :
- Minimum Deposit : $100
- Maximum Leverage : 1:300
- Commissions / Spreads : Spread
- Account 1 : CFD
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : Proprietary platform, Web-based
Pros and Cons
- Highly regulated
- Multi-language website
- Demo account
- No Swap Account
Can you make money with Plus500?
It is certainly possible to make money with Plus500. At the time of updating this review, Plus500 reported according to regulatory requirements that 23.6% of their retail investor accounts were making money when trading CFDs.
How do I withdraw money from Plus500?
You can withdraw money from Plus500 through bank wires, credit/debit cards, Skrill, and PayPal. Click on the “Withdrawals” section when logged in for exact instructions on how to execute a withdrawal from your Plus500 account.
How long does it take to withdraw money from Plus500?
Plus500 is usually able to get your withdrawal paid to you within 2 or 3 days at most. Plus500 clients report that PayPal tends to be the quickest withdrawal method from Plus500.
Does Plus500 allow scalping?
No, Plus500 does not allow scalping.
Is Plus500 regulated?
The UK Financial Conduct Authority (FCA) remains the principal regulator for Plus500. This broker is additionally regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (FMA), the South Africa Financial Services Board (FSB), the Israel Securities Authority, and the Monetary Authority of Singapore (MAS).
Is Plus500 good for beginners?
Yes, Plus500 is good for beginner traders because it is generally reported to be a user-friendly broker by its clients.
What is the minimum deposit on Plus500?
The minimum deposit required to open an account with Plus500 is $100 but may be higher depending upon the payment method used to fund the account.
Where is Plus500 based?
Plus500 is headquartered in London, UK, per its FTSE250 listed entity. It additionally manages a global headquarters in Israel while each operating subsidiary possesses its regional one.
How does Plus500 make money?
Plus500 charges a spread on over 2,000 assets. As a market maker, this broker also profits from client losses.
How can I deposit into a Plus500 account?
Bank wires, credit and debit cards, Skrill, Neteller, and PayPal compose the main payment options supported by Plus500. Regional ones may be available, but this broker solely provides this information from inside its trading platform.
What is the minimum lot size at Plus500?
This information is nor provided, but since Plus500 is a CFD broker, the minimum transaction size is presumed to be 1 CFD.
When does a margin-call take place at Plus500?
When the account balance fails to satisfy the maintenance margin requirement, a margin call is issued. Precise requirements are provided inside the trading platform, as the maintenance margin is asset dependent.
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What is the maximum leverage offered by Plus500?
The maximum leverage is capped at 1:30 for retail clients and 1:300 for professional clients, but retail traders under the ASIC regulated entity have access to 1:300.
How do I open an account with Plus500?
Plus500 has an online application form, which is the standard operating procedure.
What trading platforms does Plus500 offer?
Plus500 merely provides its sub-standard proprietary trading platform.
Plus500 is a well-regulated broker, operational since 2008, which gives it experience and tenure that many of today’s young brokers don’t have. At first glance, this brokerage comes across as a market leader, and its operational statistics are certainly impressive. The best feature provided is the asset selection, and the broker’s weakest offering is its education and research sections.
While this brokerage is in full compliance with its regulators, it has run into some problems in the past (though they have been resolved without the company filing for bankruptcy or insolvency, which is a strongly positive sign).
Plus500’s only platform is its proprietary platform, which can be both an advantage and disadvantage for traders. New traders will love the easy-to-use platform, and advanced traders may appreciate the simplicity as well, at least as a secondary option for traders who want to take advantage of Plus500’s other offerings.
Trading costs for currency pairs are competitive and make Plus500 an attractive broker. Our conclusion is that despite some flaws, Plus500 offers advantages where it really counts – with a wide asset offering, user-friendly platform, and competitive spreads.
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Hi everyone,i just noticed this website,i see there is a lot of comments about 500+,i have been trading with them for over 3.5years,before that I looked at a lot of different platforms,each having plus and minus features,when I first looked at 500+ I could see straight away that it was a clear and simple platform.I have no connection with 500+ so I give my honest opinion.Im a self taught trader although I am in the process of doing a professional trading dip.You really have to know what you are doing with trading,no second guessing,do your research and then do more.If you have time watch Bloomberg tv,its a good way to get a feel for whats going on in the market.There are a lot of tips I could give but id be typing for hours.It is possible to make money on this platform,i made 560euro in one day,i missed a trade by 2 days which would have made me 24,000 euro in 5 days,so I know its possible,i traded blackberry successfully when almost every analyst said don’t.I also lost money,thats part of trading.
I have some reservations about Plus500. First of all, why they offer £/€25,00 at the registration time! To attract you, of course and then the experience becomes boring and frustrating. Entered into their system about a month and due to the EUR set back and USD uplift lost half of my investment (though not much to other, but enough for me as an academic). The good thing is that they do not charge for each trade, but their premium is high, especially overnight. One better thing that I found is that their rates are online which is compatible to Yahoo currency. The other good thing is that they respond to your email, but there are a few things that I like to reveal.
Now like to share about my experience. Within this one month period, every day I take a log of my preferred currencies and their rates from time to time. However, among a few things that I observed that whenever there is a big dip in the rate and you like to take the advantage of that, either your system hangs out or you are logged out of the system. When you are back to the system, either your last purchase is approved with higher price, or you lost the chance to buy the same because the rate has gone up by that time. The same thing happened to me when there is a sudden rise and I could not avail to take the opportunity. I thought and still desire to gain at most 100-200Euros from my little investment, which is not a 100% profit of course, but in reality I am very much doubtful to invest further there. Sorry, if I am wrong, or I am little unfortunate in this business (a first timer and never thought of investing in such instrument, unless much hit by this EU economic crisis), but in my believe money is not safe in to the system, unless you are very opportune. Of course, you (the Company) are in business and you have to gain money, but there should be a little flexibility from the client side too. Every time I am buying a stock from the system, I am in a tense mood, because of my feeling that I am going to lose again! Because the system does not allow you to sale without certain restriction when you are at lose (agree, but the restriction, to me seems very much confined). I hope I am wrong. Will be very happy, if someone intelligent, and more experienced may shade some light on this.
Hi there, My name is Mark Munro, I am a 20 year old Business student in Glasgow Scotland. And i have had a very good experience with PLUS500. I deposited £150 uk pounds, i then confirmed, my e-mail, my address, and any other documentation. I know this seams abit dodgey, and i was very very weary of doing it, but i then applied to get my money withdrawn, £189 after around a week (thanks apple) it then took 5 days, and the money is back in my account. If you follow the rules youl be fine if you live in the UK. my main tip is DO NOT SCALP. or rather invest in any stock for less than 5 minutes. if you do this you will be at risk, reading the terms and coditions. I had a very good experience, although i was very nervous with all the reviews i read. If anyone has any questions, please feel free to eamil me at [email protected]
THIS SYSTEM WORKS iffffffffffff you follow the rules, plain and simple from my experience and made £39 in one week
Beginner’s Guide to Plus500: Complete Review
Plus500 is an industry leader providing contracts for difference (CFDs) and trading facilities for Crtyptocurrency, forex, shares, ETFs, commodities, indices, and options.
All trading instruments on Plus500 are leveraged. The trading platform comes from Plus500UK Ltd, and the company takes multiple steps to secure client funds and ensure a seamless user experience. Currently, Plus500 has more than 2,000 instruments in its portfolio.
Plus500 At a Glance
|Regulation||FCA (UK), CySec (Cyprus), ASIC (Australia), MAS (Singapore), FMA (New Zealand)|
|Minium Initial Deposit
|Asset Coverage||Crypto, Indices, Forex, Commodities, Shares, Options, ETFs|
|Leverage||30:1 Retail Accounts & 300:1 Professional Accounts|
|Trading Platforms||Proprietary, Web, Mobile, Windows Desktop,|
Plus500UK Ltd is based in the United Kingdom and has its offices in London at 78 Cornhill in EC3V 3QQ.
- The Financial Conduct Authority (FCA) authorizes and regulates Plus500UK Ltd to offer CFDs with FRN 509909.
- Plus500UK Limited is registered in Wales and England (with company number 07024970).
- Plus500UK Ltd itself is a subsidiary of Plus500 Ltd, which is listed on the Main Market for Listed Companies of the London Stock Exchange and has its headquarters in Haifa.
Read about the FCA regulations for Contracts for Difference here.
Around the world, Plus500 is regulated by other agencies.
- Plus500CY Ltd is regulated and authorized by the Cyprus Securities and Exchange Commission with license number 250/14.
- Plus500AU Pty Ltd has AFSL # 417727, which the Australian Securities and Investments Commission issued.
- The Monetary Authority of Singapore provided Plus500SG Pte Ltd (with UEN 202022211Z) a capital markets services license allowing it to deal in leveraged foreign exchange trading and securities, with license number CMS100648-1.
- Plus500SG Pte Ltd additionally holds a Commodity Broker’s License with license number PLUS/CBL/2020 from Enterprise Singapore.
- Plus500IL Ltd is licensed to operate its trading platform and registered in Israel.
By trading with a regulated company, such as Plus500, clients know that they trade using a reputable and reliable platform within an environment that is regulated. Clients are also protected by stringent regulations and rules.
Where Can You Use Plus500?
Plus500 is offered in more than 50 countries. Additionally, it is possible to use the platform in more than 30 different languages, allowing clients to trade and learn in their native language.
Clients of Plus500 have the responsibility of reporting and paying taxes according to their local laws. Certain countries also require Plus500 to withhold tax at the source.
History of Plus500
The founding of Plus500 took place in 2008. Over the years, it has achieved several key milestones. The same years as its founding, Plus500 Group launched its online trading platform that was PC-based.
In 2009, Plus500 Group offered CFDs on shares without any commissions.
In 2020, it launched the web-based version of its trading platform, which opened up the ability to trade online to those who use Linux, Mac, or smartphones. This was also the year that Plus500 added ETFs to its trading portfolio.
By 2020, Plus500 Group had more than 2 million transactions every single month. This year saw the launch of the very first iPad and iPhone app to give clients complete control on the go. This was followed by Plus500 becoming the highest-rated CFD trading app within the Apple App Store. Also in 2020, Plus500 increased its international portfolio with more than 1,000 different stocks from global markets.
The Android smartphone and tablet application from Plus500 Group arrived in 2020, which is also the year that Plus500 Group made the goal of becoming the top CFD trading company in the world.
In 2020, Plus500 Group went public in the London Stock Exchange’s AIM section. This is also when Plus500 made history by introducing the first Bitcoin CFD to the world.
On Feb. 26, 2020, the Plus500 Ltd market valuation on the London Stock Exchange AIM section reached $1 billion USD. This year also saw the introduction of Plus500’s Guaranteed Stop facility.
In 2020, Plus500 became a sponsor for Atletico de Madrid football club, the Spanish champions. A Windows mobile application was also added to the offerings this year.
In 2020, Plus500 introduced rollover functionality, added CFDs for options, and launched its new Web Trader, which is compatible with both mobile and desktop devices.
In 2020, Plus500 Group made a sponsorship deal with the 2020 Super Rugby Australian Conference Champions, the “Plus500 Brumbies.”
So far in 2020, Plus500 Ltd has gotten its ordinary shares listed for trading on the Main Market for Listed Companies of the London Stock Exchange and joined the UK FTSE 250 index for leading mid-cap listed companies.
Goals of Plus500
Plus500 strives to increase the trade volume of active customers by focusing on delivering a best-in-class user experience, innovation, and a range of offerings.
The emphasis on innovation also helps Plus500 work toward this goal. Plus500 additionally wishes to increase its market share in the current jurisdictions and expand its offerings into new jurisdictions.
The focus in this respect is on acquiring new customers within regulated markets, particularly Western Europe.
Another goal of Plus500 is to continue being a leader for research and development and innovation, both of which have been priorities for the company since its inception.
Finally, the broker wants to continue optimizing its operating model to drive financial performance. Thanks to the proprietary technology from Plus500, it is possible to enter new geographies without having to be physically present within those markets.
This means that Plus500 does not need to expend as much capital to enhance its geographic reach.
What Instruments Can You Trade on Plus500?
Plus500 supports trading of forex and CFDs, including indices, cryptocurrencies, commodities, shares, options, and ETFs.
In total, there are more than 2,000 trading instruments available via Plus500. There is a complete list of the trading instruments on its website via the Trading Instruments button on the main navigation bar.
At the time of writing, this list included 27 indices, 65 forex pairs, 20 commodities, 10 cryptocurrency pairs, and 81 ETFs.
Options are divided into popular options plus 23 other categories, such as Germany 30, Alphabet, and USA 500. Shares are divided into popular shares and those from 21 different countries.
Those with a strong interest in cryptocurrency will be interested to know that the supported cryptocurrency pairs on Plus500 include ETH/BTC, BTC/USD, BCH/USD, LTC/USD, ETH/USD, NEO/USD, IOT/USD, XMR/USD, XRP/USD, and EOS/USD.
As such, there is support for pairs that involve Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripple, IOTA, Monero, and EOS.
You can learn more about each instrument on the Plus500 platform by going to the Details tab for a given instrument while on the platform. Keep in mind that the listed details can change.
This is where you will find such information as the minimum trading size for a given instrument, its trading hours, its leverage, and margin requirements.
How Do You Trade with Plus500?
To open a position on Plus500, go to the Trade screen on the platform. Select your chosen instrument and then click Buy/Sell. This will open a popup box that displays the position screen.
Here, you can see the rate or price and select the size of the trade. This is also where you will see the value of the position as well as the margin required to open your trade.
Here, you will be able to set Stop Orders for risk management. The rates are updated constantly based on market movements until you click the Buy/Sell button.
Image from Plus500, For Example Purpose Only.
To set a Trailing Stop order, go to the position screen of the Plus500 platform. From there, click on Advanced.
You will see a box for Trailing Stop. Tick it then set your chosen pips requirement for the stop to activate.
Plus500 offers four types of Stop Orders, including Trailing Stop Orders, Guaranteed Stop Orders, Close at Loss Orders (Stop Loss Orders), and Close at Profit Orders (Stop Limit Orders).
Image from Plus500, For Example Purpose Only.
To close a position, go to the Open Positions tab or go to the main screen. From there, just select Close Position. This will give you a popup box that asks you to confirm or cancel the request.
Alternatively, you can partially close a position via this popup box. If you cannot close a position, confirm that it is currently during the trading hours for the given instrument.
It is also possible for instruments to be temporarily unavailable for trading if a market event restricts the price feed. These events can include extreme volatility, underlying market suspension, or illiquidity, among others.
Image from Plus500, For Example Purpose Only.
What Else Should You Know about Trading with Plus500?
Traders should note that certain trading methods are prohibited according to the Plus500 user agreement, including hedging, an automated data entry system, and scalping, or trading that is considered insider trading or another type of market abuse.
If you participate in prohibited trades, Plus500 has the right to void trades and close your account.
It is also important to know that it is not possible to lose more money than you have in your account. Plus500 offers a Margin Call to avoid this issue. Margin Calls are when Plus500 closes any or all of your open positions if your equity drops below the requirement for a maintenance margin.
You can prevent this from happening by monitoring your balance and always ensuring you have enough funds. You can also request notifications if your account equity is approaching the maintenance margin value to further avoid this issue.
Margin Trading on Plus500
Trades on Plus500 are done with margins, so it is important for traders to understand the margin calculations.
Keep in mind that the margin requirements, both for initial and maintenance margin levels, vary for each financial instrument. Plus500 offers simple instructions for these calculations in its FAQ section.
The initial margin is the opening position price times the trade size times the initial margin percentage. The maintenance margin is the opening position price times the trade size times the maintenance margin percentage.
Plus500 Demo Accounts
Plus500 does offer a demo account, which is fully risk-free to use, as you cannot lose any money while using it.
Demo accounts are free, and you can select this type of account during registration. When the process prompts you to “Select Account Mode,” choose “Demo Mode.” The only difference that you will notice between a real money and demo account is that in the demo account, you do not actually trade with real money.
Everything else, from the market conditions to platform setup, is identical.
Image from Plus500, For Example Purpose Only.
To help you get a feel for the platform and trading CFDs and forex, Plus500 will automatically reinstate the initial amount in your demo account if the balance drops lower than 200 EUR or its equivalent.
There is also no time limit for the demo account, a feature that sets Plus500 apart from many competitors. Conveniently, it is possible to switch between your demo and real money accounts.
This lets you hone your skills on more complicated trades or strategies in the demo account while investing real money in the real account. The option to switch between account types will appear on the app menu or on the main platform screen.
Plus500 Account Types
Plus500 recommends that clients only open a single trading account and the company reserves the right to close any subsequently opened accounts.
However, it does assess each case individually. If Plus500 allows for an additional trading account, clients cannot transfer funds between the accounts in question and they must operate independently.
Note that with Plus500, you will only find individual trading accounts as corporate or company accounts are not offered.
Plus500 Account Verification
To allow for security and identification, clients of Plus500 must verify their accounts. This includes verification of name, residential address, date of birth, email address, phone number, and payment method.
To verify your phone number, go to your Account page and click on “Verify Account.” Next to “Verify your phone,” select “Verify,” enter your phone number without your country code, and click either “Call my phone” or “Send me an SMS.” Your phone will receive a three-digit code that you should then enter into the screen on your account page.
To verify your Plus500 account, you may need to provide documentation for both proof of identity, proof of address, and verification of your funding source. Proof of identity comes via a government-issued ID that contains an identity number, a photo, your full name, your date of birth, and the date of expiry.
Your proof of address should display your full name and address. A utility company, financial institution, judicial authority, or government agency must issue it. The options include internet bills, TV services bills, phone bills, tax letters, gas or water bills, electricity bills, bank statements, credit card statements, and tax letters.
To upload the documents, go to your Account page and select “Verify Account” or “Upload Documents.” You can also do this via the mobile application.
If at any point in the future you need to update the account details, you can do so by contacting Plus500. When you do so, note what information needs to be changed and the reason for the change. Plus500 will review your request and let you know if additional documentation is necessary.
PLus500 Payment Methods
Depending on the type of payment method you use with Plus500, you may need to submit additional documentation to verify that the payment method in question is in your name.
If you deposit by credit or debit card, you may need to upload a scan or photo of your card, a document from the bank, or your credit card statement. In the case of a bank transfer, you may need to upload a photo or scan of proof of payment or a bank statement. For Skrill and PayPal, Plus500 undertakes online verification within several business days or immediately.
In most cases, Plus500 will cover any payment processing fees associated with deposits. There are rare situations when you may incur a fee associated with transferring money into or out of your Plus500 account, but those are not from Plus500; they are from your bank or payment issuer.
Those situations include when you use an international credit card and the transaction is processed via a foreign acquirer, in the case of incoming or outgoing bank transfers, and in the case of forex conversions if you deposit a currency that the selected payment method does not support.
The only deposit fees that Plus500 will charge you itself would be if you exceed the maximum monthly withdrawals.
Most of the services from Plus500 come with no commissions or fees. There are zero fees from Plus500 associated with deposits, real-time forex quotes, live share CFD prices, opening or closing trades, rolling positions, or dynamic charts and graphs. Instead, the company makes its money from the bid and ask spreads.
Even so, Plus500 can offer some of the tightest spreads within the industry, a qualification that is based on its own internal monitoring.
You can view the Plus500 spreads yourself by logging into your account, searching for the instrument you are interested in, and clicking on the (i), which is the details icon. From there, scroll to the info section, and you will see the spread.
In some cases, there may also be a few additional fees from Plus500, each of which depends on trading activity. There are fees for overnight funding, with the amount subtracted from or added to the account when you hold a position past a certain time.
If you choose to use a guaranteed stop order to minimize risks, you get the guarantee that a position closes at your specified rate. In exchange, the spread is wider than it is with a typical order.
Additionally, Plus500 charges an inactivity fee of up to $10 for accounts who do not log into the trading platform for at least three months.
As expected from a broker, Plus500 offers an economic calendar on its website. You can view yesterday, today, tomorrow, this week, or a specific date range you prefer.
The data on the economic calendar comes from Dow Jones. For each event, you will see the time, country/currency impacted, the title of the event, the related instruments, and the percentages for actual, forecast, and previous.
At the top of the economic calendar, you can also switch the view to a corporate events calendar. This will show you the time and day of the event, as well as the name and quantities with sections for cash, fiscal, and dividends.
Risk Management Tools
Because trading CFDs and forex includes a high amount of risk, Plus500 offers a range of tools to help keep that risk to a minimum.
The first of these is the ability to set a Close at Profit (Limit) or Close at Loss (Stop Loss) order. You can set these levels when opening new positions or editing existing ones. This type of risk management lets you set a rate at which point you will close your position automatically, protecting your profit or minimizing your loss for Close at Profit and Close at Loss orders, respectively.
Keep in mind that this type of order does not guarantee that the position closes exactly at your specified price level. Slippage may occur if the market price experiences a sudden rise or fall, which would lead to your position closing at the next price that is available.
This risk management feature is free of charge and locks in profits while limiting losses.
Guaranteed stops are similar but place an absolute limit on the potential loss. Even in cases when the instrument price moves against you significantly, the position will automatically close at the price you specified, and it can never include slippage.
Guaranteed stops are only offered for certain instruments. If it is, you will see a checkbox for a Guaranteed Stop after you select “Close at Loss.” You cannot add a Guaranteed Stop to an existing order; instead, you must place it on a new pending/position order.
You can also only activate or edit it when the given instrument is open for trading.
There is not the option to remove an active Guaranteed Stop order, which is something you could do with a Close at Loss order. Guaranteed Stops come with an additional spread charge and this is nonrefundable but clearly displayed before you place the order.
To successfully place the order, your Guaranteed Stop level must be a predefined distance from the instrument’s current trading price. Although the spread for a Guaranteed Stop is larger, it limits your risk and lets you know your maximum loss ahead of time.
Another risk management strategy from Plus500 is a Trailing Stop, which lets you lock in profits. Trailing Stops let your order stay open for as long as the instrument’s price remains in your favor.
The order automatically closes when the price changes direction and passes the number of pips that you specify. Essentially, a Trailing Stop makes it possible to place Close at Loss orders that automatically update as long as the market moves in your favor.
The Close at Loss order gets activated when the market moves in an unfavorable direction. There is not a guarantee that using a Trailing Stop will close the position at the exact level of the Close at Loss due to slippage. This feature is also available free of charge.
Alerts for Traders
To help traders minimize their losses and make trading decisions, Plus500 offers the ability to set up a range of alerts. Alerts are free and simple to set up, and you can use them on all devices.
You set up alerts via the main trading screen by clicking on the alert icon, which is shaped like a bell. You can also view, remove, or edit your alerts via the Alerts tab that is on the application menu. To set up an alert, you start by selecting the alert icon next to the instrument you want an alert for.
You then specify the details of the alert you want, including values, and will automatically get a notification in real-time when those conditions are met. Your alerts can be sent via push notifications, email, or SMS messages.
Price alerts will inform you the moment that an instrument reaches the sell or buy price that you specified. Change percent alerts will notify you when the absolute price of an instrument changes (either positively or negatively) of a certain level.
You can set these up to recur daily or monthly. Finally, Traders’ Sentiments alerts will automatically trigger if the percentage of sellers or buyers (among Plus500 customers) hits a certain level.
You set a percentage for buyers vs. sellers that you prefer. This last alert is unique and allows for a small element of social trading.
In addition to trading alerts, Plus500 also offers a range of notification options. Users can choose to receive these notifications via push, email, or SMS.
Via the main platform, set up notifications by going to your Account and then clicking on Notifications. Via the application, go to Menu, then Price Alerts, and finally, Notifications. You can get notifications when your account equity approaches the maintenance margin value as a way to prevent a margin call.
You can also set up notifications for each time you open or close a position. Just keep in mind that as these are only notifications; you must actually log into the account to perform any actions or to accurately monitor your accounts.
Is Plus500 Safe?
Plus500 takes extra measures to ensure that client funds are always protected. One of the most important steps toward reaching this goal is holding client funds on a segregated basis, as this follows the client money rules of the Financial Conduct Authority.
Additionally, Plus500 UK Ltd relies on its own money for any hedging, never using client funds for this. Plus500 UK Ltd will not pass client money to hedging counter-parties or initiate speculative positions within the market. Plus500UK Ltd also has no exposure to sovereign or corporate debt and does not invest money that belongs to retail clients.
Because Plus500 is regulated and authorized by the FCA, client funds are protected under the Financial Services Compensation Scheme (FSCS). This protection becomes useful in the unlikely event that Plus500 ceases trading or becomes insolvent. As clients from Plus500UK Ltd would have “investment” claims, the coverage from the FSCS would be £50,000 per person and per firm.
Plus 500’s Security and Privacy Features
The team do not give out an extensive amount of information on their security protocols but do state that they employ a variety of methods to maintain the integrity of their platform, and these include the use of Secured Socket Layer (SSL) encryption.
Due to the nature of the platform’s services, Plus500 handles large amounts of sensitive data such as personal identification documents, and credit card and bank details, and all data submitted into the company’s website or platforms is encrypted during the process of being transmitted which greatly hinders the possibility of client data being intercepted and misused by malicious actors.
The login process is also further secured as Plus500 also provides authentication through Google and Facebook in addition to implementing 2-factor authentication (2FA). This involves users being prompted to confirm the ownership of their accounts by using a unique confirmation code that has been sent to their email, mobile phone, or phone application.
The code expires after a few minutes, and requires the person logging into the account to have access to the linked email address or mobile phone which receives the verification code, this greatly reduces the possibility of user accounts being hacked and works in conjunction with standard user ID and password procedures.
It’s also worth noting that when using 2FA, users should make sure to back up and store their 2FA keys securely offline. In the event of losing access to a smart device or needing to reboot a phone, it will prove much easier to restore the original settings or app once the device is back in operation rather than to have to contact the broker and pass extensive identity checks.
The process of transferring funds to and from the platform is also subject to various security mechanisms, and while depositing cash is generally quite straightforward, wire transfers can take up to five days to clear.
Also users must head to the “Funds Management” section in their accounts, and click on “Deposit” and then select “Wire”. From here, clicking on the “Send me Wire Details” tab will result in Plus500 emailing the client the wiring details directly.
The email will contain all the necessary details for wiring funds to the platform’s bank and also includes the minimum and maximum deposit amount requirements for wire transfer.
When it comes to making withdrawals, in keeping with regulatory requirements, every customer is required to provide an official photo ID such as a passport, national identity card, or driver’s license before being allowed to take out their funds.
Finally, with regards to client funds, Plus500 stores all client funds in segregated bank accounts, does not invest the funds of retail clients, and instead, uses its own reserves for hedging.
Finally, in the event that Plus500 needed to file for bankruptcy, the Financial Services Compensation Scheme (FSCS) in the UK would cover each client’s losses up to the amount of £50,000.
How Suitable is Plus500 for Beginners?
As an industry leader in providing contracts for difference (CFDs) and leveraged trading, Plus500 naturally attracts a lot of attention and has over 2,000 instruments in its portfolio.
These include cryptocurrencies, commodities, Forex, ETFs, options, indices, and shares, with all trading instruments on Plus500 being leveraged.
As a result, the platform is not suitable for beginners as the practice of CFD trading is more advanced than traditional trading, and leveraged trades can result in greater losses than may have first been calculated.
CFDs are derivative products and by nature, take or derive their value from the value of another asset or security.
For example, a gold CFD will follow the price movements of gold, and if the price goes up, so does the CFD’s value. CFD trading is essentially using contracts to “bet” on whether a financial asset will increase or decrease in value, and when trading in this way, you do not actually trade with the real underlying financial asset. This means that cryptocurrency CFD traders do not actually purchase the cryptos being traded, this can act as a positive or negative with coin ownership seen as being an important aspect of buying cryptocurrencies.
Again, anyone wanting to make a bet on an increase in the price of Bitcoin can choose a BTC CFD, and when the price of Bitcoin increases by a particular percentage, the price of the BTC CFD will increase by the same percentage, with the gain being the price difference in Bitcoin, illustrating why CFDs are named Contract for Difference.
While CFDs can appear to be exciting financial instruments, they are inherently risky and are best left to experienced traders. Beginners should avoid them as they involve large amounts of research, and expertise related to limiting leverage and choosing the correct trade positions. Once again, it’s important to remember that CFDs are leveraged products and can result in significant losses.
However, Plus500 incorporates a range of features that may appeal to more experienced traders and these include a proprietary trading platform which allows traders to operate in multiple markets from the same screen while also providing technical analysis software and real time quotes for all of its products.
The trading platform can be accessed as a web based version as well as a downloadable desktop version, and the mobile app versions for iOS, and Android smartphones allows users to log into their accounts while on the move.
In addition, the platform is available in 32 languages with 24/7 email support and live chat functionality. However, there is no telephone support, which can prove problematic for anyone whose internet service goes down or computer crashes while trading, and needs to be walked through a specific problem.
Plus500 also incorporates a range of alerts and notifications, with email, SMS and push notifications all available, and users can set up alerts based upon price changes and buyer/seller sentiment changes.
Transparent portfolio and fee reports are also provided which clearly state the overnight fees charged, as well as your current portfolio status.
Alongside this, the platform’s charting tools and economic calendar are useful; however, Plus500 lacks any real variety of research tools and there are no analyst recommendations or fundamental data that allow users to keep an eye on promising assets and conduct more in depth research.
There is also no market news or daily technical analysis, and the platform also places little emphasis on providing educational resources for its clients. There is a complete lack of trading articles, blog posts explaining key markets, training videos, or supplementary resources anywhere on the website.
This highlights the fact that the service offered by Plus500 is aimed at more advanced traders who already know how to source good information and/or have developed a skill set that does not require any significant changes.
Having said that, the demo account can be opened for free, has no time limit and can be used to practise and fine tune a variety of trading strategies.
This is valuable as trading on margin is a high risk activity and does not suit all types of traders, with operating on leverage accentuating the possible outcomes.
Anyone who is still unsure of their trading capabilities should spend a considerable amount of time learning about CFD trading and testing out strategies before moving on to open a live account.
Plus500 Customer Support
In most of the jurisdictions where you can use Plus500, the platform offers 24/7 support via email and chat.
Most questions will be answered via the FAQ section, which has a search bar and categories for Account Verification Process, Deposits, Fees & Charges, Financial Instruments, Opening an Account, Regulators, Submitting Financial Documents, Trading, and Withdrawals. Many of the FAQ answers also include videos to show you the platform.
If you do not find the solution to your issue on that page, go to the left side of the FAQ page below the categories.
Here, you will see a button for emailing customer support and a button to start the online chat. You can get to the FAQ page in the first place via the Company tab on the main navigation bar or by clicking the floating button on the bottom right corner of the page that says “24/7 Support.”
Plus500 is a regulated broker with offices in London and more than 2,000 instruments available for trading. You can trade via Plus500 via your web browser or via its mobile application. This broker focuses on CFDs and forex, offering cryptocurrencies, indices, commodities, forex, shares, options, and ETFs.
The platform is well-designed and fairly straightforward to use and includes 24/7 customer support. It is available in a long list of countries and in 30 languages, helping Plus500 appeal to a range of traders.
It should be noted that CFD trading, especially using leverage is not something for beginners. You should have a strong knowledge foundation of how the markets work and carry out thorough research before beginning. We recommend you take advantage of the demo account first which will give you $40,000 of play money to test the system.
The fact that Plus500UK Ltd is regulated by the FCA is a huge plus and it will give you peace of mind that this trading platform operates correctly within the laws of the United Kingdom. The Plus500 Ltd company is also listed on the London Stock Exchange, which again should go towards reassuring you that this is a large a legitimate company to deal with.
Plus500 Broker Review: Safe Or Scam? We Uncover The Pros & Cons
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Last Updated on March 24, 2020
Risk Warning: 76.4% of retail trader 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 is a leading global Contract for Difference (CFD) brokerage firm and online trading platform. CFDs are derivative instruments that allow customers to buy and sell financial instruments without actually holding them in their account. Plus500 offers CFD trading in a variety of financial markets including commodities, cryptocurrencies forex, stocks, ETFs and market indices. Its trading platform is known for its simple design and ease of use.
Plus500 has received awards and recognition from industry watchers for its excellent service. Plus500 also has one of the highest rated CFD apps on the App Store and Google Play.
We think the Plus500 trading platform is incredibly slick and one of the best on the market. Traders seeking a first-rate, professional online trading experience and access to a large number of CFDs in a variety of different asset classes should check out Plus500. Always remember that your capital is at risk and whilst Plus500 is a responsible broker and won’t allow you to lose more than your account balance, trading CFDs is for experienced traders.
This Plus500 review will cover all of the relevant details of the company and discuss the broker’s major advantages and disadvantages.
Why Choose Plus500?
|What’s Good About Plus500?||What Could Plus500 Do Better?|
|Plus500||www.plus500.com (76.4% of retail CFD accounts lose money)|
|Overview||The World’s Trading Machine|
|Our Overall Rating|
|Broker Trust Rating||90/100|
|Number of Customers||200,000+ worldwide|
|Countries Served||50+ (Full list below)|
|Minimum Deposit||Minimum deposit varies according to payment method and the country where you are based.|
|Fees||Plus500 is a no-commission broker. Plus500 makes money through the market bid/ask spread (See below). Plus500 charge an inactivity fee of $10 and some overnight and premium fees may apply. See here for full list of fees.|
|Regulator(s)||UK Financial Conduct Authority, Australian Securities and Investment Commission and The Cyprus Securities Exchange|
|Customer Support||Email & Live Chat|
|Awards||Plus500 is one of the highest rated CFD trading apps on Apple’s AppStore and Google Play|
|Demo Account||Yes – a free demo account is offered and available even after opening a real account.|
History of Plus500
Plus500 was founded in Israel in 2008 by six individuals who were alumni of the Technion Institute of Technology. One of the founders seeded the company with $400,000 of his own money. In 2020 the company raised $75 million through an IPO on the AIM market of the London Stock Exchange. By 2020 the company had a market cap of over $1 billion.
Plus500 is registered and located in Israel and has subsidiaries in the UK, Cyprus and Australia. Its subsidiaries are regulated as follows: Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909), Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14), 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. You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.
Plus500 provides 24/7 email and live chat support in 15 languages. The firm also offers chat support in English 24/7 in most jurisdictions where it operates. In addition, traders can view the Plus500 website and mobile apps in 30 different languages. The company does not offer customer support by phone, which may be a problem if you lose your internet connection.
In June 2020, Plus500 started trading on the main London market as a constituent of the FTSE250.
Which Countries Does Plus500 Operate In?
Plus500 is available in 50+ countries and in more than 30 languages.
IMPORTANT: CFDs are not available in the USA due to local regulation, and this regulated CFD broker does not accept US citizens or US residents as clients.
- Costa Rica
- Czech Republic
- Isle of Man
- New Zealand
- Saudi Arabia
- South Africa
- United Arab Emirates
- United Kingdom
- Simplified Chinese
- Traditional Chinese
It is worth remembering that although the trading platform is available in over 30 languages, customer support is actually only offered in Arabic, Dutch, English, French, German, Hebrew, Italian, Polish and Spanish.
Can I Trust Plus500?
Plus500 lists on the London Stock Exchange
Yes, Plus500 is a trustworthy, publicly traded company regulated in multiple jurisdictions.
Plus500 is a safe and secure way to trade CFDs. Plus500 subsidiaries are individually regulated by the following agencies; Financial Conduct Authority (FCA), Cyprus Securities Exchange (CySEC), Australian Securities and Investments Commission (ASIC).
See the table below for exactly which regulator covers you in your country and what protection is offered.
|Regulator||Countries Covered||Protection Offered||Additional Protection Offered|
|Financial Conduct Authority (FCA)||UK, Ireland and Germany||All client funds are held in a segregated client bank account||Clients of Plus500UK Ltd would fall under the ‘investments’ claim category, whereby the cover is £85,000 per person per firm.|
|Cyprus Securities Exchange (CySEC)||Andorra, Argentina, Austria, Bahrain, Belgium, Bulgaria, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Hungary, Iceland, Isle of Man, Israel, Italy, Kuwait, Latvia, Liechenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Monaco, The Netherlands, Norway, Oman, Poland, Portugal, Qatar, Romania, Saudi Arabia, Slovakia, Slovenia, Spain, South Africa, Sweden, Switzerland, United Arab Emirates and Uruguay.||All client funds are held in a segregated client bank account|
|Australian Securities & Investments Commission (ASIC)||Australia, New Zealand and South Africa||All client funds are held in a segregated client bank account|
76.4% of retail CFD accounts lose money.
Financial Conduct Authority (FCA)
The UK’s Financial Conduct Agency regulates Plus500’s activities in the UK, but through the FCA’s “passport out” system ( which enables an authorised firm to provide financial products or services, set up a base, or run its permitted activities in another country in the
” data-original-title=””>European Economic Area (EEA)) the FCA also covers their activities in Ireland and Germany.
The fact that Plus500 is regulated by the FCA is a huge positive. The FCA and the UK is widely respected as a leader in financial regulation and in fact the UK scores highly in Transparency International‘s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption.
Plus500 customers in the countries listed above are protected by the UK based scheme Financial Services Compensation Scheme (FSCS) which was established to protect consumers when authorised financial services firms fail. In short, it steps in and pays compensation up to certain levels if a regulated firm is unable to pay. Up to £50k of funds deposited into Plus500 are protected by the FSCS if you are in one of countries that fall under the FCA jurisdiction.
For more information, Plus500’s Financial Services Register reference number is FRN 509909.
Cyprus Securities Exchange (CySEC)
The Cyprus Securities and Exchange Commission is the financial regulatory agency of Cyprus. Cyprus is a European Union member and is a financial services industry hub. The country ranks well in the Transparency International league table of countries based on their corruption perception index.
This is reassuring if you’re in a country where your Plus500 activities are regulated by CySEC, although obviously it is worth remembering that the level of compensation available (up to €30,000 if Plus500 fails) is less than if you are in a country that falls under the jurisdiction of the FCA.
Australian Securities and Investments Commission (ASIC)
The Australian Securities and Investments Commission or ASIC covers Plus500’s activities in Australia, New Zealand and South Africa.
ASIC’s oversight of Plus500 means that client money is held in a trust and completely separate from Plus500’s own money. Unlike other jurisdictions however, if you are based in Australia or South Africa, there is no additional compensation scheme in place to cover your deposit.
That doesn’t mean it isn’t safe to deposit with Plus500 if you’re in Australia or South Africa it just means you are offered only the legal protection afforded by the Australian legal system. That being said, money held in trust in Australia is highly regulated covered by the Corporations Act, and given Plus500’s failure seems unlikely anyway we still feel happy recommending Plus500 in these countries.
Inside the Plus500 Offices
Plus500 Office Reception. Plus500 Careers
Plus500 team members chatting in common area. Plus500 Careers
Some of the Plus500 team. Plus500 Careers
Who Runs Plus500?
The Plus500 board currently consists of 7 directors. We have listed the main management team and their responsibilities below:
|www.plus500.com 76.4% of retail CFD accounts lose money.|
|Mr. Elimelech holds a B.A. in Accounting and Economics from Haifa University and is a certified accountant in Israel.|
|Mr. Haber holds a B.Sc. in Computer Science from the Technion, Israel. Before founding Plus500, Mr. Haber served as chief operating officer of InterLogic Ltd, a ‘skilled games’ programme provider for the internet, and mobile devices, which he co-founded in 2004.|
|Mr. Even-Chen holds a B.A. in Accounting and Economics from Tel-Aviv University, an LL.B Degree from the College of Management and an MBA (specialising in Financial Management) from Tel-Aviv University.|
|Ms. Judd is a chartered accountant with over 30 years of experience in Compliance, Regulation, Corporate Finance and Audit.|
Asaf Elimelech signs shirt sponsorship deal. EFE/ Rodrigo Jiménez
Plus500 Trading Products
Plus500 offers customers access to trading seven categories of financial instruments through the use of CFDs: indices, commodities, forex, cryptocurrencies shares, options and ETFs:
Trade the most popular Indices around the world like USA 500, NASDAQ 100 and France 40 with leverage.
- Natural Gas
Plus500 cover all the major currency pairs including EUR/USD, GBP/USD and EUR/GBP.
- Bitcoin Cash
Trade CFDs of popular shares from the UK, USA, Germany and more.
Plus500 offers options contracts on the following stocks and indices:
- Germany 30
- France 40
- UK 100
- Netherlands 25
- USA 500
- Italy 40
- Hong Kong 50
- Deutsche Bank
- Europe 50
Plus500 offers contracts on the following ETFs:
|DBC||Commodity Index Fund|
|VXX||VXX Volatility (ETF)|
|ISF-L||iShares UK 100|
|FEZ||SPDR EURO 50|
|STW.AX||SPDR S&P/ASX 200|
|SFY.AX||SPDR S&P/ASX 50|
Plus500 Account Types
Plus500 aims to keep things simple and, therefore, only offers two types of trading accounts – a standard live trading account and a demo account. Opening an account is simple and straightforward. The signup page asks traders to choose between the live and the demo account. After making this selection, traders are taken to the registration page where they fill in some basic information and click the “Create Account” button.
Illustrative prices only. (76.4% of retail CFD accounts lose money).
It is worth remembering though that once you have an account, you will need to complete the Plus500 verification process (described in detail below) before you can place your first real trade.
There is no time limit for using the demo account. Traders in demo mode can easily toggle between the real account and demo account by clicking on the desired account in the main screen menu.
What is a Gold Account?
Plus500 has enhanced and upgraded its systems. As a result, Plus500 has upgraded most trading accounts to “Gold accounts.” These accounts have different units of trade size and a 5% discount on all overnight funding charges. Each instrument has a different unit of trade size. Traders can choose the ones that best fit their trading goals.
Plus500 Pro Account
Plus500 now offers a Professional Client Account (Pro Account) to traders who meet certain criteria. This special premium account offers the following features:
- Higher leverage amounts on some instruments
- The same client money protection advantages offered with a Retail Account
- The same negative balance protection offered with a Retail Account
- Traders can revert back to a Retail Account at any time
Traders who opt for a Pro Account lose access to the Financial Ombudsman Service (FOS). The FOS is an independent organization that was established to resolve disputes between financial institutions and their customers.
Traders must request consideration from Plus500 for a Pro Account. Plus500 will then assess your expertise, knowledge of financial markets and experience to determine if the account is right for you. In addition, Plus500 must establish that you are capable of making your own investment decisions and understand the risks involved in those decisions.
In order to be granted a Pro Account, traders must meet at least two (2) of the following criteria:
- Sufficient Trading Activity: Traders must have executed an average of 10 transactions per quarter (of significant size) over the previous four quarters with Plus500 or another CFD broker.
- Portfolio Size: Traders must have a financial instrument portfolio of at least €500,000. This includes both cash deposits and financial instruments.
- Relevant Work Experience: Traders must have worked in the financial sector for at least one year in a position which requires knowledge of the related products and services (e.g., OTC derivatives such as leveraged CFDs, forex or spread betting).
Plus500 Spreads and Fees
The relevant underlying financial instruments determine the Plus500 spreads offered to traders. Plus500 obtains the data from reputable third-party sources, which obtain the data directly from exchange feeds.
Plus500 receives its compensation through the market bid/ask spread. In addition to this spread (detailed below), customers may, however, incur the following Plus 500 fees:
Overnight Funding: This overnight Plus500 fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a certain period of time.
Inactivity Fee: Plus 500 charges traders a $10 inactivity fee if they don’t use the platform for a period of three months. This Plus500 fee only applies to real money accounts and only if the trader has sufficient funds in the account. Traders simply need to log in to their accounts periodically to avoid these fees.
Guaranteed Stop Order: Traders who want to guarantee that their position closes at a specified price may pay wider Plus500 spreads to execute these trades.
Traders pay the spreads on trades. The spreads are shown as a percentage of the underlying instrument’s price and vary according to liquidity, volatility and other factors. The following are recent Plus500 spreads for indices, forex, commodities, cryptocurrencies, shares and ETFs but it’s important to note that these are variable . Options strikes available for trading vary with the price of the underlying asset and time, so traders should consult the Plus500 website for those spreads.
Plus500 serves 50 countries worldwide. The process of opening an account is largely the same in each jurisdiction. Before you can trade with Plus500 for the first time, you need to pass an identity and residential address verification as well as verifying the source of the funds. Don’t worry, the process is quite simple and we’ve found Plus500 to verify files quickly so there isn’t typically a long delay between signing up and being able to trade.
To pass their identity verification, you will need a Government issued form of identification e.g. a passport which contains the following:
- Identity number
- Full name
- Date of birth
- Date of expiry
To pass their residential address verification, you will need to provide one of the following:
- Bank statement
- Credit card statement
- Electricity bill
- Water or gas bill
- Council tax bill
- Tax letter
- Phone bill
- Television services bill
- Internet bill
To verify the source of your funds i.e. to prove you are the legitimate owner of those funds, you may need to provide a scan of one of the following:
- The front of your debit/credit card
- A bank/credit card statement.
Traders can make deposits and withdrawals by major credit cards such as Visa or MasterCard, bank wire transfer, PayPal or Skrill. Deposits by wire transfer may take up to five days for funds availability, while deposits through Visa and MasterCard are the fastest.
Depositing money in an account is fast and simple. Traders click on the Funds Management tab on the main screen and select “Deposit.” Traders then select the deposit method of their choice, fill in the required information and click “Submit.” The minimum amount required to make a deposit starts at $100 but depends on where you are based and the method of funding.
Plus500 offers different amounts of leverage depending on the CFD product and the type of account being used (retail or professional).
Each CFD also has specific Plus500 margin requirements that traders must maintain. Traders who fall below the Plus500 margin requirements will have their positions closed with no option to keep their positions open.
All account withdrawal requests are subject to a minimum withdrawal amount. The minimum withdrawal amount for PayPal and Skrill is $50USD (or equivalent in your currency).
The minimum withdrawal amount for bank transfers and credit cards is $100USD (or equivalent in your currency). All withdrawal requests are processed by Plus500 within 1-3 business days.
All withdrawal methods have minimum amount thresholds, which can be found on the withdrawal screen on the trading platform.
Plus500’s stated policy, wherever possible, is to only return funds to the same payment method from which they originated.
Listed below are the withdrawal methods Plus500 offers. Please note that some of the methods may not be available in your country:
Electronic wallets – PayPal or Skrill. Funds should be received in your e-wallet account in 3-7 business days after withdrawal has been authorized.
Bank transfer – direct bank to bank funds transfer. Funds should be received in your bank account within 5 business days from the authorization of the withdrawal. Withdrawals to a bank account may be subject to further delays sometimes depending on the banking institution and the jurisdiction in question.
Debit/Credit cards – funds should be received according to each issuer or bank’s refund processing time.
Plus500 WebTrader Review
The Plus500 platform is a well-designed platform with excellent features for a variety of traders. The platform seems particularly well-suited to traders who want to navigate quickly between many different trading instruments. In fact, the platform’s main screen gives traders access to hundreds of different instruments without the need to pull up additional windows.
The main screen gives traders access to trade execution, pricing information, charting, positions and fund and balance information. The main screen is organized with a logical and intuitive structure:
For illustrative purposes only – not a recommendation.
For illustrative purposes only
Trade: On the very left side of the screen is the trade tab. Traders can click on each category and get a drop-down menu of items to trade. These drop-down folders contain all of the products on the platform and eliminate the need for traders to use a search engine or navigate to another page to find trading instruments. Traders can also set up a “favorites” or “most popular” section so they can quickly locate instruments to trade.
Clicking on an instrument creates the trade ticket shown above. The ticket offers a litany of sophisticated options for more advanced traders. Traders can choose the size of the trade and can add provisions to lock in profits or stop losses. Plus500 traders can also add trailing stops to orders and calculate leverage used and margin required for trades. The ticket is one of the features of the Plus500 platform that sophisticated traders will find very appealing.
Instruments Section: The top part of the screen allows the trader to populate a window with instruments they want to track or frequently trade. This section has a lot of attractive features that should appeal to active traders. The big buy and sell buttons next to each market allow for quick execution.
More importantly, however, this section integrates the trader’s existing positions into the list. For example, a trader can see his open positions and P&Ls. Plus500 traders can click “Close Position” to send a closing order. Unlike many trading systems that separate open positions from watch lists, this integrating feature is a nice time saver and an easy way to track open positions alongside other securities.
For illustrative purposes only
Open and Closed Positions: Traders can navigate to these tabs to keep track of their trading activity. The Plus500 platform allows the trader to search for activity by dates. In the closed position tab, traders can see reasons positions were closed, time of opening and closing, and P&L.
Illustrative purposes only – not a recommendation.
For illustrative purposes only
Charts: The charting functions offered by Plus500 are the most limiting and disappointing features of the platform:
For illustrative purposes only
The charts appear in the main window of the trading platform and graphically represent price movements for trading instruments. The platform allows traders to apply various technical indicators to the charts. However, the number of indicators and time frames that Plus500 offers pales in comparison to other more sophisticated trading platforms such as MetaTrader4. Traders have access to only about a dozen time frames and indicators.
The Plus500 platform does not support integration with MetaTrader4 or with any type of algorithmic trading. Also, traders can only pull up one chart at a time, which is a seriously limiting factor for active traders who want to compare multiple instruments or the same instrument using different charting tools. In sum, the chart function may be useful for traders who want a general idea of price movements in a financial instrument, but would likely be disappointing to sophisticated traders who need robust charting capabilities.
Funds: The bottom section of the Plus500 main trading screen shows available funds, equity and profits (or losses) for the account. The best part of this section is the ease with which traders can navigate to the deposit page to add funds to the account. Also, traders can toggle between their real money and their demo account easily, which allows them to test out practice ideas and, if successful, quickly implement them with live trades.
Plus500 Demo Account
Plus500 really stands apart from other brokers when it comes to their free demo account, even after you open your real account you can continue to use your demo account to test trading ideas you might have in future. Many other brokers will charge you for a demo account after an initial free period.
Plus500 doesn’t offer any educational courses, videos or market commentary on its website, which may be a problem for inexperienced traders. However, Plus500 offers traders a demo account where they can test ideas with virtual funds. The demo account is permanent, so traders have access to it even after trading in their real account. In fact, traders can easily and seamlessly switch back and forth between the demo and real money account.
When traders first sign up for an account, they see the following screen:
A trader can create an account in the demo mode and then see the same layout that a real money trader sees.
The demo account has all of the securities available to real money traders. A nice feature of this account is that traders can easily switch to real money trading by clicking the blue button at the bottom of the screen. Also, Plus500 replenishes funds in the demo account when traders fall below certain levels.
In addition to accessing Web Trader via a PC, traders have several other ways to access the Plus500 trading platform:
iPhone/iPad/Apple Watch App:
- The app is available from the Apple app store and requires iOS 8.0 or later
- Compatible with iPhone, iPad and iPod touch
- Languages supported are English, Arabic, Bulgarian, Croatian, Czech, Danish, Dutch, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Indonesian, Italian, Japanese, Korean, Latvian, Lithuanian, Malay, Maltese, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Simplified Chinese, Slovak, Slovenian, Spanish, Swedish, Traditional Chinese and Turkish
- The app is available from Google Play
- Multi-language 24/7 professional support
Windows Phone App:
- The app is available from the Microsoft store
- Multi-language support
- Minimum operating system requirements: Windows 10, Windows 8.1, Windows 10 Mobile, Windows Phone 8.1
- Architecture: ARM, x86, x64
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