CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bottom Line Summary
If you are seeking a major CFD broker that relies on in-house-developed software, then Plus500 is eager to have your patronage. The firm has become a global multi-asset fintech group and is a constituent of the FTSE 250 index on the London Stock Exchange. Plus500 relies upon its proprietary WebTrader trading platform, available in 32 languages, which has won numerous awards and is considered very user-friendly. As for the products offered, there are more than 2,000 entries on its website, though some may be restricted by your residency status. Plus500 also has licences in 11 jurisdictions from a multitude of regulatory bodies, including the FCA, ASIC and CySEC. If you want a broker focused on innovation and driven by internal development, then Plus500 might be right for you.
Overall Ratings
4.1
Plus500 Fees
4.5
Accounts/Membership Levels
4.5
Deposit and Withdrawal
4.5
Trading Platforms
4.2
Mobile Trading App
4.2
Markets and Products
4.4
Market Research
3
Customer Service
3.7
Education
3.5
Plus500 broker features
Feature
Plus500
Minimum deposit:
100 units of USD, EUR, GBP
Withdrawal fee amount:
None
Inactivity fee charged (Y/N):
Y
Max leverage:
1:30
Spread from:
Varies
Number of instruments:
2,000+
Year founded:
2008
Time to open account:
1-2 business days
Demo account provided (Y/N):
Y
Countries of regulation:
UK, Cyprus, Australia, New Zealand, South Africa, Seychelles, Estonia, Singapore, Israel, US, Japan
Products offered:
CFDs in forex, indices, shares, commodities, options, ETFs, and cryptocurrencies in limited jurisdictions, stocks on Plus500Invest (available in certain countries)
Plus500 pros and cons
Pros
Heavily regulated in 11 jurisdictions, including FCA, ASIC and CySEC
Good transparency on fees, better than average on costs
Proprietary WebTrader platform and app have won many awards, user-friendly
More than 2,000 popular asset choices on CFD platform
Cons
Research and education materials could be more comprehensive
Plus500 has had to traverse a very bumpy road to get to its rock-star status of today with more than 22 million traders registered since inception in 50+ countries and counting. Its humble origins began in 2008 when six graduates of a local technology institute in Israel raised $400,000 to launch Plus500. The firm has always had a home-grown trading platform, which went online in 2010 but quickly ran afoul of FCA audits in the UK due to the absence of key reporting modules in its software.
Once corrected and a fine paid, the broker went on to be listed on the London Stock Exchange in its AIM division. It has significantly progressed and is now a member of the FTSE 250 index. The road became bumpy again in 2015 when it was the victim of its own success. There was a severe backlog in processing new client documentation, severe enough for the FCA to freeze all UK accounts for months. CFD trading was not halted in overseas subsidiaries.
Stock values plunged 60%. Playtech, a large gaming and technology company on the LSE, attempted to acquire Plus500 in its crippled state. After months of negotiations, Playtech withdrew its bid when the FCA would not give its blessing for the deal. Having learned a few valuable lessons, the management team decided to aggressively market the firm globally.
Plus500 has become a major provider of CFD trading services and is respected across the globe, but it continues to confront controversies from time to time. Reporting issues have plagued the firm, whether they relate to losses or clients. The 2021 Annual Report claims 22 million registered customers, but it later states that active traders for 2021 were 407,374. Today, it has operating subsidiaries in the UK, Cyprus, Australia, the Seychelles, Singapore, Estonia, the US and Japan with their headquarters based in Israel. For 2021, it reported annual revenues in excess of $700m and 450+ employees.
Plus500 Fees
4.5
Plus500 makes a dedicated effort to win you over in the fee category. First, there are no commissions on its CFDs, and spreads appear to be above average. The firm also publishes extensive tables on its website revealing real-time pricing data, another effort to gain your trust. There are some overnight fees, as is standard in the industry, but there is also an inactivity fee after three months of dormancy. Logging onto your account will exempt you, and there are no fees for deposits or withdrawals.
Accounts/Membership Levels
4.5
Plus500 eliminates much of the confusion when selecting an account. The size of your initial deposit does not dictate your benefits or spreads as a retail trader. There is a single Standard account, but if you can qualify as a Professional investor, then there are rewards. It also appears that Plus500 is trying a new approach called the Premium Service. It includes a dedicated client manager, access to expert advice and specialised webinars, and additional features to come. The Premium Service is by invitation only, without any details given.
Opening an account is straightforward and seamless. The online process is similar to other online brokers, except that you must select your account at the beginning, which can be Demo, Standard or Professional. Personal ID materials must be verified, in accordance with global regulations, followed by funding and, lastly, the green light for trading.
Deposit and Withdrawal
4.5
Plus500 does excel in the deposit and withdrawal area. First, you can choose from 16 account base currencies, which can be a benefit if you invest in markets denominated in the same currency as your base, thereby avoiding conversion fees. The firm will charge a conversion fee of 0.7%, if the proceeds are in another currency. Deposits can be wire transfers, credit/debit cards, or Skrill. There are no fees related to deposits.
Withdrawals bear no charge for up to five per month, though your payment intermediary may charge a fee for its services. The withdrawal process is quick and fully digitized – a few clicks and you are done. Be sure that your documentation is in order. Delays can happen due to banking and processing conventions across the globe but check with your bank if you have any questions.
Trading Platforms
4.2
As its roots began with former technology students, Plus500 has always had a predilection for internally developed software. It does not offer MetaTrader products, but it has relied on its proprietary platform to curry favour with its clients. The WebTrader platform has received several rewards over the years for its ease of use, but critics feel that there needs to be more customisation for a trader’s desired profile. Features, charts, alerts and indicators are in the package, and for a small fee, a guaranteed stop order can be placed on your position. Unfortunately, no desktop version is supported.
Mobile Trading App
4.2
The Plus500 mobile app does not sacrifice any functionality from its online web version. Its design has been rated very user-friendly, and there are no issues with both Android and iOS devices. The Plus500 WebTrader app has won several awards, even though it may not be ahead of the apps from larger competitors. We doubt if most traders would notice.
Markets and Products
4.4
Plus500 is a pure CFD player, except for one small stock purchase programme only offered to traders with its CySEC subsidiary. CFDs cover 2,000+ tradable assets, primarily in the shares arena, but forex, indices, ETFs, commodities, and options are also included. Cryptocurrencies are also offered on a limited basis, due to prohibitive regulations regarding retail traders in the UK. Unfortunately, Plus500 does not offer social or copy trading.
Market Research
3
As a low-cost provider, it was no surprise that Plus500 has cut corners in this area. There is no live news feed. Customer sentiment data is available, along with a calendar and some interesting alert features, but technical and fundamental analyses are nowhere to be found. The firm appears to be adding articles, especially on its YouTube channel, but the trend is to have personal experts for this kind of guidance advice.
Customer Service
3.7
Plus500 has live chat, WhatsApp and email support. When you click the blue ‘24/7’ button on each website page, you are referred to a page with several FAQ sections and an email and WhatsApp selection buttons. Live chat did not appear, and it wasn’t found when entered in the Search facility. Unfortunately, the firm does not offer telephone support.
Address: Plus500 Ltd (member of the FTSE 250 Index on the LSE) 8 Angel Court, Copthall Avenue, London, EC2R 7HJ, UK
Our Plus500 review revealed a rudimentary educational offering. There are the basics about WebTrader and trading CFDs, but beginners will not get a complete service on this website. The firm has invested in a broad YouTube channel offering to offset these shortfalls.
Is Webull regulated?
Plus500 is one of the most heavily regulated forex brokers in the industry. It has operating licences from regulators in 11 countries, including the UK, Cyprus, Australia, Israel, the Seychelles, Singapore, South Africa, New Zealand, Estonia, the US and Japan.
Verdict – Is Plus500 right for you?
In the past 14 years, more than 22 million customers have chosen to try their hand at CFD trading with Plus500, evidence that the management team has created a brokerage that appeals to many different traders with varying styles and experience. From its start, it has focused on internally developed software to win the day, and in the process, it has garnered several industry awards for excellence and ease of use. You will not find another broker that complies with as many regulatory bodies as does Plus 500, which is a testament to its commitment to transparency, and the peace of mind of its loyal fan base.
Alternatives to Plus500
Our forex review deemed Plus500 to be one of the best global brokerage firm, headquartered in Israel and traded on the London Stock Exchange. It has focused on the CFD market and spread to Asia and other regions of the world. As successful as it has been in the past few years, Plus500 does have several impressive competitors in its space. It has been recognised for its excellent service, but if you are the least bit hesitant to choose Plus500 as your financial partner, then we have prepared a list of five worthy alternatives for your consideration. Any one of these five brokers can provide the products and features you seek, with the assurance of heavy regulatory oversight:
eToro: Large, popular global broker, major focus on copy trading and portfolio products
IG Group: Major London-based broker on LSE, consistently ranking in top five
OvalX: Formerly ETX Capital, owner on LSE, low spreads for all traders, forex CFD
Pepperstone: Popular with beginners and veterans, this Australian broker is a leader
Markets.com: Another London-based global broker, owned by Playtech on the LSE
If you are a beginner and would like additional support when looking for your first forex broker, we can also help you in your search.
Regulators
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Cryptocurrency CFDs are not available to Retail Clients. Office Address: Plus500UK Ltd, 8 Angel Court, Copthall Avenue | London EC2R 7HJ.
Plus500CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14). Cryptocurrency CFDs are not available to UK Retail Clients.
Plus500AU Pty Ltd holds AFSL #417727 issued by ASIC, FSP No. 486026 issued by the FMA in New Zealand and Authorised Financial Services Provider #47546 issued by the FSCA in South Africa.
Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039).
Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18).
Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1).
FAQ
How does Plus500 make money?
Our online trading review of Plus500 revealed that it makes its income from a combination of spreads, overnight charges, and the net of gains and losses from customer trading experiences with CFD positions. The firm may also earn commissions on some of its other products and on currency conversion policies when required to post funds to accounts based on different currency bases.
Is Plus500 regulated?
Plus500 is one of the most heavily regulated forex brokers in the industry. It has operating licences from regulators in 11 countries, including the UK, Cyprus, Australia, Israel, the Seychelles, Singapore, South Africa, New Zealand, Estonia, the US and Japan.
How do you sign up with Plus500?
Opening an account with Plus500 follows industry norms. A short registration process gets you access to a free demo system. You must also choose from a standard retail or professional account classification. The latter has strict standards for which few retail traders can qualify. In order to trade, you must also submit personal identity documentation in accordance with international law. Approval can come within a day or two if there is an issue, but once funded, you are free to start your trading journey.
What do you do if Plus500 is down?
As a heavily regulated broker in several global jurisdictions, Plus500 must comply with strict standards for backup network contingencies in case of system outages. Outages tend to be local and outside the broker’s control. In case of an emergency, contact Plus500 via email, its website or WhatsApp.
How do you trade with Plus500?
Plus500’s WebTrader software has won awards for usability and has much of the same functionality as MetaTrader products when it comes to opening and closing a position. In some respects, Plus500 tries to give you more information, not less, at this critical trading junction. Once your order type is selected and you are satisfied with your decision, a single click will execute your order instantly.
Risk Disclaimer
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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