Plus500.com is recommended for traders who are looking for a heavily regulated broker with an easy-to-use web platform.
|Regulation||ASIC (Australia), FSCA (South Africa), CySEC (Cyprus), FMA (New Zealand), MAS (Singapore), FSA (Seychelles)|
|Inactivity fee charged||10$ (after 3 months of inactivity)|
|Withdrawal fee amount||$0|
|Time to open an account||1 day|
|Deposit with credit card||Possible|
|Depositing with electronic wallet||Possible|
|Possible account currencies||EUR, USD|
|Free & unlimited Demo account||Yes|
|Available Instruments||+2000 | CFD (Commodities, Cryptocurrency, ETFs, Forex, Shares, Stock Indices)|
We rank brokers based on how they compare to our other reviewed brokers. We want to make sure that you understand the fees which may arise, here is a list of what you should consider:
In the following sections, we will present the most relevant fees for Plus500.com. Usually, for most traders, the most important fees are spreads, commissions and financing rates. To give you a better idea of the fees, we also compare Plus500’s fees with those of two similar brokers, Capital.com and eToro. We selected those brokers as they have a similar offer, profile and fee structure. If you want an in-detail comparison, you can find a Plus500 alternative here.
In the following comparison chart you will find the spread for opening a trade in the instruments EUR/USD, Apple, Silver and S&P500. Usually the spread is the most important factor for short term trades.
We calculate the actual costs of a trade with the following parameter:
In the following chart, you can check the costs of each trade by hovering or clicking an individual bar. A smaller bar is better, as that indicates a more favourable fee structure of the broker.
We do not publish concrete data about the swap fees, as they are flexible and change daily. However, rest assured as we take a look at the swap fees and compare them internally, which influences the total rating of the fees.
Plus500 has no commissions, and they make most of their money from a spread markup. The spread is the price difference between the buy and the sell price of an asset. The spread is variable and changes depending on the liquidity of the instrument you are trying to trade.
Plus500 does not charge account, deposit or withdrawal fees; however, they charge a $10 inactivity fee if you do not log in to your account for three months. The inactivity fee is charged once per month after that time frame, as long as you do not log in to your account. The inactivity fee is equal to $10 depending on the currency of your account and is charged to offset the expenses incurred in the provision of brokerage services available at the platform, although you did not use the service. This fee is deducted from your Real Money account only when there are sufficient funds available in your account. You can avoid inactivity fees by just logging into your Plus500 account.
Plus500 only offers Contracts for Difference (CFDs). Contracts for difference are popular nowadays and are preferred by many traders as a beginner-friendly method in the financial markets. CFDs ensure that you enjoy the advantage of trading a stock, index, forex, ETF or commodity, yet you do not physically own the instrument. You can enter into a CFD at the price quoted on Plus500’s official website. When a trade is closed, the difference between the open and close price, or any other financial obligations like the dividends, are settled through cash.
There are many benefits of CFDs such as you do not need to pay the stamp duty or exchange charges. The method also eliminates any trading inefficiencies such as the delays and expenses of physical delivery of commodities or shares, and their registration, safe custody or holding fees. Moreover, you can trade through leverage on margin and can also trade a number of indices, margins or shares. Lastly, you cannot lose more money than is available in your Plus500 account, so you do not have to fear being in debt to the broker.
In regard to the above-mentioned instruments, Plus500 does not charge any additional fees or commissions, except the below-mentioned charges:
Nevertheless, Plus500 makes money through the market spreads (the difference between the purchase and sell price of an instrument). For instance, when trading with USD/EUR, suppose the purchase rate is 2.23078, then the rate of selling would be 2.23072 respectively. It means that Plus500 will be compensated with a market spread of 0.6 pips (in this particular example). The spread for every instrument at Plus500 can be found in the “Details” button next to every instrument on the main screen of the platform.
Plus500 is a large company with offices throughout the world. They are operated through various worldwide subsidiaries, as follows:
Plus500 is not a scam, but a legitimate brokerage service, set up in 2008. Many people trust Plus500 as their legal online broker. Plus500 is listed on London Stock Exchange, runs its operations worldwide and is trusted by millions of traders online. To verify the reliability of online brokerage services, you can check whether they are registered with regulatory bodies. All the subsidiaries of Plus500 are regulated by:
The Financial Conduct Authority (FCA) is the major regulatory body of the U.K., and because Plus500 is located in England, they are regulated by FCA, which ensures Plus500 handles your money with care. Plus500 does not do anything shady with your funds, so your money is safe. Another top tier regulator the ASIC (responsible for Australia), where Plus500 is regulated as well, shows that Plus500 adheres to the highest regulation and security standards.
Your money is safe at Plus500. Your funds are safe in a segregated account, in accordance with the payment protocols. They offer a financial services compensation scheme to protect the funds of clients under the FCA regulatory framework. They also offer negative balance protection, which means that they protect you when your account balance goes into negative so that you are never in debt to the company.
As far as the history of Plus500 is concerned, they have been in the game since 2008. The longer the track record of a broker, the more security we have that they have successfully overcome financial crises in the past. Plus500 is listed in the London Stock Exchange Main Market, which is a huge safety plus. They also release regular and transparent financial statements, with unambiguous company ownership and regulatory compliance. They are also audited by the Big Four (PWC, EY, KPMG and Deloitee), which guarantees the safety of your money.
But if you are wondering about the unlikely case of a bankruptcy of Plus500, there is an investor protection under certain regulations. Whether you are covered by investor protection and to what extent depends on the regulation/legal entity your account is registered with.
If you are unsure about the regulation or entity that you belong to, you can simply get in touch with a support agent. In the case that you have a large trading account, it’s usually a good practice to split it between brokers to minimize any potential risk.
No, Plus500 has never been hacked. They need your legal documents to sanction deposits to prevent financing of terrorism and/or money laundering or to prevent any hacking attempts. Besides, these documents ensure that hackers do not open accounts with different emails to claim your starting capital.
Moreover, there has never been a case of leaked personal information at Plus500. They are registered with top-tier regulatory authorities such as ASIC, FCS, MAS, CySEC, FSCA, and so on. These regulatory authorities ensure that brokerage services are safe and secure.
Plus500 implements and maintains organizational and technical measures to secure your personal information. Your personal information is only retained for a period of 7 years, in accordance with the local laws and contractual obligations. Your information is securely deleted and destroyed after the set time frame.
Here is a list of all the deposit and withdrawal methods available at Plus500 with their payment processing time; however, note that some withdrawal methods may not be available in certain regions:
Plus500 performs many security checks for the safe initiation of payments. Generally, it takes about one to three business days for your withdrawal request to be approved by the broker; however, the exact time for payment receipts depends on the payment method and the third-party remitter’s processing time.
The minimum withdrawal requirements for each payment method are listed on the withdrawal screen of Plus500. If you process a withdrawal request that is lower than the minimum amount you can withdraw from your account, then the broker has the right to charge an additional amount from your account.
Plus500 makes withdrawal payments to the same payment method that you used to make a deposit to your Plus500 account. For instance, if you used an e-wallet to deposit your funds, then Plus500 will first try to withdraw your funds to the same e-wallet.
Traders can create both demo and live trading accounts at Plus500. Both accounts allow traders to trade in real marketing conditions, but the only difference is that traders can use virtual money in the demo account to familiarize themselves with the trading conditions in the market.
Unlike many other brokers, Plus500 does not have any account tiers for different account sizes. This is a huge plus in our eyes.
Opening an account at Plus500 is simple and straightforward. Go to www.plus500.com (risk warning: 72% of retail investor accounts lose money) and click on the “Start Trading” button. Write your email address and create a strong password. Click on the “Create Account” button to log in to your Plus500 trading account.
Once you have opened your Plus500 account, you have two options, as follows:
Although you can log in and explore your new account immediately, you can trade with real money only when you have passed the compliance, which may take up to a few business days as per your particular situation.
To verify your account, go to “Menu” → “Account” → “Verify Account”. You are required to go through some basic compliance checks to complete the verification process. These compliance checks assess your knowledge of trading and ensure that you understand the risks of trading.
Later, you are also required to submit the below-mentioned documents to verify your personal information:
You can upload photos or scanned pdf, jpg or gif documents from your Web, Windows, Android or iPhone platforms to your Plus500 account. You can also take a snapshot of your ID and proof of address from mobile applications and upload them to your Plus500 account.
Next, you can make a deposit to your Plus500 account. To make a deposit, go to “Menu” → “Funds” → “Deposit”. Here, you can choose from the various methods of deposit. You can make a deposit through debit/credit card, PayPal, Klarna, Skrill, or bank wire. Choose a deposit method, fill the form and proceed with the transaction of money.
Note that fund transfer is instant and Plus500 does not charge any deposit fee. Moreover, your funds are safe and secure at all times.
By regulation, every new client must go through some basic compliance checks to ensure that you understand the risks of trading and are admitted to trading. When you open an account, you will probably be asked for the following items, so it is good to have them handy:
You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to take at least 10 minutes to complete the account opening process. Although you can explore the demo account immediately, it is important to note that you cannot make any real trading transactions until you have passed compliance, which can take up to several days depending on your situation.
Deleting your account at Plus500 is easy; however, there are a few simple requirements for you to follow before you delete your Plus500 account. Ensure that all your positions at your Plus500 trading account are closed, and also do not forget your trader points at the trading platform.
You have two major options to delete your account, as follows:
To delete your account through the website, go to https://www.plus500.com/Help/ContactUs and enter your name. Write down the e-mail address linked to your Plus500 account. In the “Subject section”, enter “Delete my account” and in the “Type of Query” section, select “General”. In the description box given below, write your reason for deleting your Plus500 account. Be honest. Then, confirm that you are not a robot and click on the “Send” button to initiate your request.
To delete your account via email, go to the email account that is registered with your Plus500 account. Compose a new e-mail and enter email@example.com as the recipient of the e-mail. In the subject section, write “Request for Account Deletion”. Now, write an email about why you want to delete your Plus500 account and request them to delete your personal data and information from their database.
Here is a sample email on how to request Plus500 to delete your trading account.
You can also use WhatsApp or live chat options to contact Plus500 representatives and request them to delete your Plus500 account; however, we suggest that you use their online form available at their website to submit your account deletion request, which is quick and efficient.
Now, why do people delete their Plus500 account?
People delete their Plus500 accounts for many reasons. The major reason is that they do not want to trade anymore. This is either because they lost funds while trading or they found another suitable brokerage service. Trading is not a get-rich-quick scheme, but requires extensive experience and knowledge.
Moreover, people quit Plus500 trading because the platform does not provide the instrument they want to trade. At Plus500, you can find a huge variety of instruments, yet you may not find every instrument you are looking for.
Lastly, people often quit due to technical problems such as problems with funds deposit or withdrawal; however, these problems are usually a glitch, and you can resolve them easily by getting in touch with the support team at Plus500.
Plus500’s WebTrader platform provides an easy and intuitive user interface ideal for trading at all times and all places. These platforms are stable, streamlines and can be accessed from multiple systems and devices including Windows PCs, smartphones, web browsers and tablets. WebTrader interface enables you to create watchlists, manage trades and analyse charts; however, the lack of Meta Trader 4 platform has limited the customization and functionality options for traders.
WebTrader is an appealing platform that enabled users to analyse their choice of instruments on a customizable technical analysis chart; however, the platform does not offer third-party automation and analytical tools, which can be a huge disappointment for experienced users.
The trading app of Plus500.com also has a simple and straightforward interface; it is easy to use and navigate for novice and inexperienced traders. The app also provides the same amount of trading features as the desktop version of Plus500’s platform. Traders can deposit and withdraw funds, and access account details, charting, product catalogue and conditional orders via mobile app.
When you open an account at Plus500, you get the opportunity to invest in a wide range of instruments simultaneously. There are over 2000 instruments available at Plus500; however, the availability, leverage, and margin data of these instruments may vary depending on your region.
The most commonly used instruments at Plus500 include:
The actual amount of these instruments per asset class is as follows:
You can log in to the Plus500 account to begin managing and analysing the markets you want to invest in. You can review the market trends to make well-informed investment decisions.
Plus500 has a complete trading guide. Users can access this guide through their website. The guide covers all the important trading questions such as the trading platform of Plus500, how to trade with CFDs, trading strategies, and so on.
Plus500 also offer risk management tools including:
Plus500 offers a wide range of drawing tools and indicators that can help you analyse market trends and predict potential market movements. You can assess these tools and indicators through charts at Plus500, and can also customize them through the following options:
You can use any combination of tools, indicators or views to follow the movement of your instruments and adjust your trading strategy as required.
You can easily customize the charts as per your requirements by clicking on the icons next to the charts and selecting the options in the drop-down menus of relevant charts.
Plus500 offers good customer service and ensures that the clients are satisfied. You can easily get in touch with the support team through the integrated “Contact Us” page. All you need to do is to write your name, email and query, and they will get in touch with you within a couple of hours. Moreover, their service is available 24/7, which is not the case with every online broker.
While we were conducting our research, we sent a few queries through their integrated contact form, and they replied within one hour. The replies were somewhat knowledgeable.
We are doing our due diligence on this review, that is why we highlight positive and negative points on every single review. If you want more information on how we write reviews, you can check out our methodology.
Plus500 has a simple and straightforward website and web platform. The interface is easy to navigate and recommended for beginner traders. They are listed on the London Stock Exchange and are authorized by top-tier regulatory authorities, so you do not have to worry about losing your money. They are 100% legit. As a market maker Plus500 offers certain trading features like a guaranteed stop-loss which is highly liked by many traders.
Plus500 sadly only offer CFD products for trade. The fee for CFD positions is also mid-tier and average. They also do not provide the standard research tools available on other broker websites, such as fundamental data or recommendations. Many experienced traders will miss MetaTrader 4 and 5 as trading platform.
Summing up our Plus500 review, we can surely describe Plus500 as an above-average CFD & FX broker. The biggest advantage of Plus500 is the high level of security and regulation and the ease of use of the trading platform. In general, Plus500 should offer more than enough instruments and trading features for beginner traders. Experienced traders will miss the possibility to use different trading platforms. Currently, there is no way to use any EA (expert advisor) or other forms of automated trading.
Yes, Plus500.com is a good broker. Plus500 is listed on the London Stock Exchange and is regulated by top-tier regulatory authorities. They have a simple and straightforward user-friendly trading platform with an easy account opening and closing process, 24/7 customer service and commission-free trades.
Yes, Plus500.com is trusted by many traders throughout the world. They are regulated by top-tier regulatory authorities such as FCA (UK), ASIC (Australia), FSCA (South Africa), CySEC (Cyprus), FMA (New Zealand), MAS (Singapore) and FSA (Seychelles). They are also listed on the London Stock Exchange.
No. Plus500.com is regulated by FCA (UK), ASIC (Australia), FSCA (South Africa), CySEC (Cyprus), FMA (New Zealand), MAS (Singapore) and FSA (Seychelles). No scam warning has been issued against Plus500.com.
No. Plus500.com has never been hacked. Your personal information is safe with Plus500.com.
The minimum deposit to open a live account at Plus500.com is $100.
Plus500.com offers a proprietary WebTrader platform and a mobile application.
Yes, Plus500.com offers an unlimited demo account for testing purposes. You can easily switch between demo and live accounts.
You can close your Plus500.com account through the website contact form or by sending an email to firstname.lastname@example.org.
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