Plus500 Review – By An Expert Forex Trader

In this Plus500 review, I will show you the important features you should look at in terms of safety and trading options provided by the broker.

Before you use the Plus500 forex broker for your trading, you need to read reviews like this. The table below summarizes the Plus500 Forex broker review;

Is Plus500 Safe And Regulated?

With a trust score of 98 out of 99, Plus500 is a low-risk platform. Plus500 is a publicly-traded company that doesn’t run a bank.
It is regulated by the Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC), and the Singapore Monetary Authority (MAS).

Plus500 Review – Frequently Asked Questions

What is Plus500’s Minimum Deposit?

Plus500’s minimum deposit is $100 for debit/credit cards and $500 for bank transfers. This is higher than many other brokers but still within a reasonable range.

What is Plus500 Broker Spread?

Overall, Plus500’s pricing is in line with the industry average, but when it comes to active trader pricing, it lags behind the best forex brokers (see IG or Saxo Bank for comparison). Plus500 does not offer active traders or VIP clients any discounts.

How long does Plus500 Broker Withdrawal Take?

A bank transfer can take several days, credit/debit card withdrawal take 3 days and electronic wallet payments are immediate. 

Do they have a Bonus?

The regulatory jurisdiction at Plus500 determines its bonuses and promotions for traders. EEA-based traders, for example, have none because the European Securities and Markets Authority (ESMA), the EU’s super-regulator, has banned them.

What is the Plus500 Broker Leverage?

Leverage at Plus500 varies by instrument and ranges from 1:20 to 1:300. The leverage is fixed and can’t be changed.

Is Plus500 Broker Regulated?

Plus500 is regulated by several international financial authorities and top-tier regulators, such as the Financial Conduct Authority (FCA) of the United Kingdom and the Australian Securities and Investments Commission (ASIC).

Is Plus500 Broker an ECN Broker?

No, Plus500 does not offer ECN accounts.

Plus500 Broker Withdrawal Methods

Withdrawals on Plus500 are free of charge for five transactions per month. After which you will be charged $10 for every withdrawal. A minimum withdrawal amount of $50 for PayPal/Skrill and $100 for bank transfers (credit/debit cards included) are also required.

Plus500 Broker Commission

Overall, Plus500’s pricing is in line with the industry average, but when it comes to active trader pricing, it lags behind the best forex brokers (see IG or Saxo Bank for comparison). Plus500 does not offer active traders or VIP clients any discounts.

Is Plus500 a safe bet?

Plus500 is a publicly-traded company that is currently regulated by 8 different agencies, and trusted by thousands of traders.

Where is Plus500 based?

The headquarters of Plus500 is located at 78 Cornhill in London, United Kingdom.

How do I sign up for a Plus500 account?

You can create an account on the Plus500 website in about 10 minutes.

How does Plus500 make money?

The bid/ask spread is how Plus500 makes money. It also makes money from fees for overnight financing and inactivity.

Are Plus500’s fees competitive?

Plus500’s fees are average to competitive, according to my assessment. While some instruments, such as the EUR/USD, have competitive spreads, others, such as gold, do not. The fees for overnight swaps were quite high.

Is Plus500 good for beginners?

Plus500’s straightforward trading platform is suitable for beginners, but it lacks comprehensive educational resources and research.

Does Plus500 offer demo accounts?

Plus500 not only offers demo accounts with a virtual balance of $50,000, but it also offers real money trading with the potential to earn real money profits.

Plus500 Account Types And Spread

For the most part, Plus500 only has a Retail account, and demo account. 

Retail Account

Plus500’s retail account is commission-free and has spreads on the EUR/USD that start at 0.8 pips, which is average when compared to most other CFD providers. The maximum leverage (as defined by ASIC regulations) is 30:1, and the minimum deposit is a reasonable $100. 

Trading is only available on Plus500’s proprietary platform, which is limited in comparison to most other brokers. However, traders can choose from a wide range of tradable assets, including over 70 Forex pairs and indices, share CFDs, cryptocurrencies, ETFs, commodities, and currency indices.

Demo Account

Before depositing real money, traders can use the demo account to practice trading and familiarize themselves with the Plus500 platform.

Because the Plus500 platform differs from other CFD providers, I recommend that new traders spend some time learning the platform before making a deposit. 

While many traders prefer the Plus500 platform’s clean design, others may prefer a more traditional layout.

Demo accounts don’t have any expiration date since they are pre-loaded with virtual funds that will be replenished on demand.

Although Plus500 only has one live account, its low trading costs, and low deposit requirements appeal to both novice and experienced traders.

Plus500 Deposit Methods

There are no deposit fees at Plus500. Plus500, like other CFD brokers, offers a variety of deposit options:

• Bank transfer
• Credit/debit card
• PayPal
• Skrill

Plus500 Review – Trading Platforms

Because of its ease of use and focus on providing only the essential tools for trading, the Plus500 WebTrader platform is an excellent choice for new investors. WebTrader is easy to use and has a minimalistic design.

Trailing stops and guaranteed stop-loss orders (GSLO) are two of the most advanced features that are available on the Plus500 platform. And they can be useful risk management tools for casual traders.

Plus500 also has a mobile trading app for IOS and Android

Trading Instruments

• Indices – Country and Sector
• Forex
• Commodities
• Individual shares
• ETFs
• Options
• Cryptocurrencies (availability subject to regulation)

Plus500 Traders Education

When compared to education leaders like City Index, IG, and CMC Markets, Plus500 does not offer a wide range of educational content for traders. However, the Plus500 currently offers 6 educational video content as part of its Trader’s Guide series.

Summary: Plus500 Review

Overall, my experience with Plus500 was extremely positive. WebTrader’s platform is one of the most user-friendly and intuitive on the market.

There is a diverse range of instruments to trade, and I found that pricing in most areas ranged from average to competitive.

Traders should be aware of swap fees (the cost of holding a trade overnight), as they can add up quickly. Beginners and casual traders will benefit greatly from this platform.

Plus500 is not a good fit for algorithmic traders and scalpers who constantly trade in and out of different markets.