- 430+ thousand users
- Publicly traded company
- Very low spreads
- Mobile trading app
84.97% of retail CFD accounts lose money
Plus500 Review 2024
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In This Guide
Plus500 Review Summary
Plus500 is a leading online broker offering a wide range of CFD (Contracts for Difference) trading opportunities. Founded in 2008, it is known for its intuitive and user-friendly trading platform, allowing traders to access over 2,000 financial instruments across multiple asset classes, including forex, commodities, indices, stocks, ETFs, and cryptocurrencies. Plus500 is regulated in several jurisdictions, providing a high level of security and trust for traders. The platform offers competitive spreads, no commissions, and a seamless mobile trading experience.
Key Highlights:
- Established: 2008
- Regulated by: FCA (UK), CySEC (Cyprus), ASIC (Australia), MAS (Singapore), FMA (New Zealand), and others
- Fee Structure: Spread-based, no commissions
- Trading Instruments: CFDs on over 2,000 instruments, including forex, stocks, indices, commodities, ETFs, and cryptocurrencies
- Leverage: Up to 1:30 for retail clients, up to 1:300 for professional clients
- Demo Account: Available with unlimited time
- Deposit Methods: Credit/Debit cards, e-wallets (PayPal, Skrill), bank transfers
- Mobile App: Available on iOS and Android
- Customer Support: 24/7 via live chat and email
Plus500 Trading Platform
The Plus500 trading platform is designed with ease of use in mind. It is a web-based platform, meaning no software downloads are required, and it is accessible from any device with an internet connection.
Key features of the Plus500 platform include:
- User-friendly interface with simple navigation
- Advanced charting tools for technical analysis
- Real-time market data and live price alerts
- Access to 2,000+ instruments, including forex, stocks, commodities, and cryptocurrencies
The platform also includes a risk management section, with tools like stop-loss orders and price alerts to help manage trading risks.
What Accounts Does Plus500 Offer?
Plus500 offers a straightforward account structure designed to cater to both beginners and professional traders:
Retail Account: This is the standard account available to most traders, offering leverage up to 1:30 and access to all trading instruments on the platform. Retail clients benefit from negative balance protection, ensuring they cannot lose more than their account balance.
Professional Account: Traders who qualify as professional clients can access higher leverage (up to 1:300), but they must meet certain criteria regarding trading experience and financial capacity. Professional accounts do not have negative balance protection.
Demo Account: Plus500 provides an unlimited-time demo account where users can practice trading with virtual funds before moving to live trading.
What Products and Assets Can You Trade on Plus500?
Plus500 specializes in CFD trading and provides access to a wide array of financial instruments across several asset classes:
- Forex: Trade major, minor, and exotic currency pairs, including EUR/USD, GBP/JPY, and USD/TRY.
- Stocks: CFDs on popular global stocks like Apple, Tesla, and Google.
- Indices: Access major indices such as the S&P 500, NASDAQ, FTSE 100, and DAX 30.
- Commodities: Trade CFDs on gold, silver, oil, and other commodities.
- ETFs: Exchange-Traded Funds (ETFs) from various sectors and industries.
- Cryptocurrencies: Trade popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and more.
Plus500’s asset variety makes it a versatile platform for traders seeking exposure to different markets.
Plus500 Leverage
Leverage allows traders to increase their market exposure with a smaller initial investment. Plus500 offers varying levels of leverage depending on the asset being traded:
- Forex: Up to 1:30 for retail traders (e.g., for every $1 you deposit, you can trade up to $30).
- Indices and Commodities: Up to 1:20 leverage.
- Cryptocurrencies: Up to 1:2 leverage for retail traders.
For professional traders, Plus500 offers higher leverage (up to 1:300) depending on the asset class. However, it is important to note that while leverage can amplify gains, it also magnifies losses. Risk management tools like stop-loss orders are crucial when trading with leverage.
Plus500 CFD Trading
Plus500 specializes in CFD (Contracts for Difference) trading, allowing traders to speculate on the price movements of various assets without owning the underlying asset. With CFDs, you can trade on the price difference between the opening and closing positions of an asset, going long (buying) or short (selling).
Some of the most popular assets available for CFD trading on Plus500 include:
- Forex pairs like EUR/USD
- Stocks from major companies like Apple and Tesla
- Commodities such as gold and oil
- Cryptocurrencies including Bitcoin and Ethereum
- Indices like the S&P 500 and NASDAQ
Plus500’s platform provides real-time data and advanced charting tools, enabling traders to analyze price movements and make informed decisions.
Plus500 Cryptocurrency Trading
Plus500 offers CFD trading on cryptocurrencies, allowing traders to speculate on the price movements of popular digital currencies without needing to own them. The platform provides access to the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
Cryptocurrency CFDs on Plus500 come with leverage of up to 1:2 for retail clients, and 1:5 for professional clients. You can also take advantage of tools like stop-loss and take-profit orders to manage the volatility of crypto markets.
Plus500 Forex Trading
Forex trading on Plus500 allows traders to speculate on currency pair price movements using CFDs. The platform offers access to more than 70 currency pairs, including major, minor, and exotic pairs:
- Major pairs: EUR/USD, GBP/USD, USD/JPY
- Minor pairs: EUR/GBP, AUD/CAD, NZD/USD
- Exotic pairs: USD/ZAR, USD/TRY, EUR/PLN
Plus500 offers leverage of up to 1:30 for retail traders and up to 1:300 for professional traders. The platform also provides tight spreads and real-time price charts to help traders stay on top of market movements.
Plus500 Share Dealing
Plus500 provides CFD trading on thousands of global stocks, allowing traders to speculate on the price movements of shares without actually owning them. Some of the most popular stocks available include:
- Apple (AAPL)
- Amazon (AMZN)
- Tesla (TSLA)
- Google (GOOGL)
- Microsoft (MSFT)
Stock CFDs on Plus500 can be traded with no commission, and leverage is available up to 1:5 for retail clients. Traders can use various tools such as technical analysis, price alerts, and risk management features to optimize their share trading strategies.
What Are The Spreads?
Plus500 operates on a spread-based fee structure, which means traders are not charged commissions. The spread is the difference between the buy (ask) and sell (bid) price. Plus500 offers competitive and variable spreads, which vary depending on market conditions and the asset being traded.
- Forex: Spreads on major currency pairs like EUR/USD can start as low as 0.6 pips.
- Stocks: Stock CFDs typically have spreads of around 0.01% – 0.3%.
- Cryptocurrencies: The spreads on popular cryptocurrencies like Bitcoin can vary from 0.30% to 1%.
Traders should always monitor the spreads before executing a trade, especially during periods of high volatility.
Plus500 Spread Betting
Spread betting is a form of derivative trading where traders bet on the direction of the price movement of an asset. Plus500 offers spread betting to UK residents, allowing them to speculate on various assets, including forex, stocks, indices, and commodities.
Key advantages of spread betting on Plus500 include:
- Tax-free profits for UK residents (as it is considered gambling by UK tax authorities)
- Commission-free trading
- Leverage options to increase market exposure
- The ability to go long or short based on market conditions
Spread betting is only available in certain regions, so traders outside the UK should consider other trading options on Plus500.
Plus500 Autotrading
While Plus500 does not offer traditional autotrading (automated trading) features such as Expert Advisors (EAs) like on MetaTrader platforms, you can still automate parts of your trading strategy by setting price alerts and stop-loss/take-profit orders. These features allow you to automate your exit strategies, protecting your capital without needing to manually monitor the market.
For those seeking more advanced autotrading features, third-party platforms such as MetaTrader or ZuluTrade (not supported by Plus500) may be better options.
Plus500 Margin Requirements
Margin is the amount of capital required to open a leveraged position. The margin required on Plus500 depends on the leverage and the asset being traded.
For example:
- Forex (EUR/USD) margin requirement: 3.33% (leverage 1:30)
- Commodities (Gold) margin requirement: 5% (leverage 1:20)
- Stocks (Apple) margin requirement: 20% (leverage 1:5)
To calculate your required margin on Plus500:
- Find the notional value of the position (position size).
- Apply the relevant margin percentage based on the asset.
Ensure that your account balance covers the margin requirements, or you may receive a margin call to top up your account.
Plus500 Risk Management Tools
Plus500 provides several risk management tools to help traders protect their capital:
- Stop-Loss Orders: Automatically closes a trade when the price reaches a pre-set level to minimize losses.
- Take-Profit Orders: Automatically closes a trade when the price hits a certain level to lock in profits.
- Trailing Stop Orders: Similar to stop-loss orders but adjusts the stop price as the market moves in your favor.
- Guaranteed Stop: This ensures that your position will be closed at the exact price you set, even if the market gaps. This feature is available on select assets and comes with a higher spread.
These tools help traders mitigate risk and protect their positions from volatile market movements.
Plus500 User Reviews
Overall, Plus500 has received positive reviews for its user-friendly platform, competitive pricing, and variety of assets. Here are some common themes from user reviews:
Positive Feedback:
- Ease of use: The platform is designed for both beginners and advanced traders, offering a simple interface.
- Low fees: Many users appreciate the commission-free trading model and competitive spreads.
- Wide range of assets: With over 2,000 instruments available, Plus500 caters to a variety of trading strategies.
- Mobile trading: The Plus500 app is highly rated for providing a seamless trading experience on the go.
Negative Feedback:
- Limited research tools: Some traders feel that the platform lacks advanced research and analytical tools.
- No copy trading: Unlike platforms like eToro, Plus500 does not offer social or copy trading features.
Buy Bitcoin on Plus500
Plus500 offers a seamless way to trade Bitcoin and other cryptocurrencies via CFDs. Traders do not own the underlying asset but speculate on its price movements.
- Leverage: Retail clients can trade Bitcoin with leverage of up to 1:2, while professional clients can trade with leverage up to 1:5.
- No Commissions: You only pay the spread when trading cryptocurrencies on Plus500.
- Price Alerts: Set alerts to be notified when Bitcoin hits a certain price level.
- Advanced Charting: Plus500 offers tools like candlestick charts, indicators, and real-time market data for in-depth analysis.
This makes Plus500 an appealing choice for traders who want to speculate on the price of Bitcoin without the hassle of owning or storing the cryptocurrency.
Alternatives to Plus500
While Plus500 is a popular CFD broker, traders might also consider these alternatives:
eToro: Known for its social trading features, eToro allows traders to follow and copy the strategies of experienced traders. It offers both real asset and CFD trading.
Libertex: Libertex offers a commission-based model with no spreads, which is appealing to traders who prefer transparent fee structures. It supports a range of tradable assets, including cryptocurrencies.
IG Markets: IG Markets provides a broad selection of financial instruments, including CFDs and traditional trading, making it suitable for advanced traders.
CMC Markets: CMC Markets offers extensive research tools and over 10,000 assets for CFD trading, including forex, commodities, and stocks.
Plus500 Crypto
Plus500 offers CFD trading on a wide range of cryptocurrencies, making it one of the leading brokers for crypto traders:
- Available Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and more.
- No Commission: Similar to other asset classes, Plus500 does not charge commissions for cryptocurrency trades. Instead, traders pay the spread.
- Leverage: Up to 1:2 leverage for retail clients and up to 1:5 for professional clients.
- Risk Management Tools: Plus500 provides stop-loss and take-profit options to help manage the volatility of cryptocurrencies.
Plus500 App
The Plus500 mobile app is one of the top-rated trading apps available, providing traders with the ability to trade anytime, anywhere. Available on both iOS and Android, the app offers:
- Full Platform Functionality: All the features available on the desktop platform, including access to over 2,000 CFDs, advanced charting, and real-time market data, are available on the app.
- Intuitive Interface: The app is designed to be user-friendly, making it suitable for both beginners and experienced traders.
- Push Notifications: Stay updated with real-time price alerts and notifications for margin levels and order executions.
- Fast Execution: Open and close positions quickly with reliable execution speeds.
Plus500 App Download
The Plus500 app is available for both iOS and Android devices, offering a seamless mobile trading experience. To download the app:
- Go to the App Store (iOS) or Google Play Store (Android).
- Search for “Plus500”.
- Download and install the app on your mobile device.
- Open the app and log in to start trading.
The app provides all the same features as the web platform, including access to thousands of CFDs, real-time price charts, and advanced trading tools.
Plus500 CopyTrading
Unlike platforms such as eToro, Plus500 does not offer CopyTrading. While it provides powerful trading tools and resources, traders looking for a social trading experience, where they can copy the trades of others, will need to explore alternatives like eToro.
Plus500 vs eToro
When comparing Plus500 vs eToro, there are a few key differences to consider:
- Plus500 is focused solely on CFD trading, whereas eToro offers both CFD trading and real asset trading, allowing users to buy stocks and cryptocurrencies directly.
- eToro offers social trading and CopyTrading, which allows users to follow and copy the trades of successful investors, a feature Plus500 does not offer.
- Both platforms are commission-free, but eToro charges withdrawal fees, whereas Plus500 does not.
In summary, Plus500 is a great option for those who want a straightforward CFD trading experience, while eToro is better suited for those interested in social trading.
Plus500 Review
Plus500 is a highly reliable and regulated broker, known for its user-friendly interface and extensive range of CFD instruments. The platform’s competitive spreads, advanced tools, and seamless mobile experience make it a popular choice for both beginners and experienced traders.
Pros:
- User-friendly platform with access to over 2,000 CFD instruments
- Regulated in multiple jurisdictions, ensuring security
- Unlimited demo account for practice
- No commissions, only spread-based pricing
- Advanced trading features available on both desktop and mobile apps
Cons:
- No traditional stock or cryptocurrency ownership, only CFD trading
- No social or copy trading features
- Limited leverage for retail clients
Is Plus500 Legit?
Yes, Plus500 is legit and fully regulated by several top-tier authorities. The platform is authorized by the FCA (UK), CySEC (Cyprus), ASIC (Australia), and MAS (Singapore), ensuring it operates under strict regulations that protect traders’ funds and ensure fair trading practices.
Plus500 has been in operation for over a decade and serves millions of customers worldwide. The broker keeps client funds in segregated accounts, meaning your money is kept separate from the company’s operational funds, offering added protection. Additionally, negative balance protection is available for retail clients, ensuring you cannot lose more than the amount in your account.
Plus500 Fees
Plus500 operates a commission-free trading model, meaning that traders are only charged via the spread—the difference between the buy and sell price. Here are some key aspects of their fees:
- Spreads: Plus500’s spreads are competitive. For example, the spread for EUR/USD can start as low as 0.6 pips.
- Overnight Fees: If you keep a position open overnight, you will incur a swap fee. The fee depends on the instrument being traded.
- Inactivity Fee: Plus500 charges an inactivity fee of $10 per month if your account is inactive for more than 3 months.
Plus500’s transparent fee structure makes it a cost-effective broker, particularly for those trading frequently.
Plus500 Minimum Deposit
The minimum deposit on Plus500 is $100 for most accounts, though this may vary depending on the payment method or your location. Plus500 accepts a wide variety of deposit methods, including credit/debit cards, PayPal, Skrill, and bank transfers.
The low minimum deposit makes it accessible for beginner traders who want to start with a modest amount of capital, while the variety of deposit options ensures flexibility for users worldwide.
How to Withdraw Money from Plus500
To withdraw funds from Plus500, follow these simple steps:
- Log in to your Plus500 account.
- Go to the “Withdraw” section in the platform.
- Select your preferred withdrawal method (credit card, bank transfer, PayPal, or Skrill).
- Enter the amount you wish to withdraw.
- Submit your withdrawal request.
Plus500 typically processes withdrawals within 1-3 business days, although the time it takes for the funds to reach your account will depend on your payment provider.
Plus500 Login
Logging into Plus500 is straightforward and can be done via both the web platform and mobile app. Here’s how to do it:
- Visit the Plus500 website or open the Plus500 app on your mobile device.
- Click on the “Login” button located at the top right corner of the screen.
- Enter your email address and password. If you’ve enabled two-factor authentication (2FA), you will also need to enter the verification code sent to your phone or email.
- Click Login.
If you’ve forgotten your password, you can reset it by clicking the “Forgot Password?” link and following the instructions.
Plus500 Demo Account
Plus500 offers a free demo account that allows traders to practice trading with virtual funds before risking real money. The demo account is unlimited, meaning you can use it for as long as you need, and it gives you access to the full range of assets and features available on the live platform.
Using a demo account is a great way for beginners to familiarize themselves with the platform and learn how to trade, while more experienced traders can use it to test strategies without any financial risk.
Plus500 Customer Support
Plus500 offers 24/7 customer support via:
- Live chat
- WhatsApp support
Unfortunately, Plus500 does not offer phone support, but their live chat option is quick and responsive. The platform also features a comprehensive FAQ section that covers most common issues related to trading, account management, and platform use.
FAQs
Yes, Plus500 is regulated by multiple authorities, including the FCA, CySEC, ASIC, and others.
Plus500 offers CFDs on over 2,000 financial instruments, including forex, stocks, indices, commodities, ETFs, and cryptocurrencies.
Yes, Plus500 provides an unlimited-time demo account where users can practice trading with virtual funds.
Yes, Plus500 offers CFDs on a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
No, Plus500 does not offer CopyTrading. Traders looking for social trading features may want to consider platforms like eToro.
Yes, Plus500’s intuitive platform, unlimited demo account, and educational tools make it an excellent choice for beginner traders.
Retail clients can access leverage of up to 1:30, while professional clients can access leverage of up to 1:300, depending on the asset class.
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