Overview
Plus500
The Plus500 trading platform is offered by Plus500UK Ltd, a UK based company with its offices located in the City of London. Plus500UK Ltd authorised & regulated by the FCA (#509909) to offer Contracts For Difference (CFD) to its customers.
The company is a rapidly growing CFD provider and currently offers its portfolio of over 2000 instruments. Plus500UK Ltd is a subsidiary of Plus500 Ltd; a company listed on the London Stock Exchange’s Main Market for Listed Companies, and headquartered in Haifa.
How many Symbols do Plus500 offer?
They offer over 2000 instruments including FX, Commodities, Indices, Metals, Shares, ETFs, Options, and even Cryptos! (Availability subject to regulations)
Do I have to have a USD account to trade?
No, USD accounts are available and so are a host of other base currencies– GBP and EUR included.
What is the maximum leverage I can have?
30:1 is the maximum leverage available but much lower levels can be chosen. and there are plenty of options.
How can I deposit funds?
Lots of options here– Credit and Debit Cards, Skrill, Paypal, Electronic Wallet, Trustly and something else that puts Plus500 head and shoulders above the rest in our opinion – Apple Pay!
Are Plus500 on Social Media?
Yes – Via Facebook, Instagram and Twitter.
Are Plus500 Regulated?
Yes, they are regulated by ASIC, FCA and MAS to name the major regulators.
Can I trade via MT4?
No – Plus500 are one of the rare brokers who don’t offer MT4. Whilst we usually like to see brokers offer the MT4 platform, the proprietary Plus 500 platform is so good, it doesn’t matter. This may be an issue for traders who need EAs to trade.
Is there a minimum deposit when opening an account?
$100
How do I open an account?
It’s a quick and easy process to open an account. Click here to start.
Plus500 Ratings
| Feature | Rating |
|---|---|
| Overall | 92/100 |
| Protection (Trust) | |
| Support | |
| Trading Costs | |
| Platforms and Tools | |
| Products |
Protection (Trust)
Reason we trust Plus500:
- They are a Listed Company – Plus 500 shares are traded on the LSE Plus Exchange and are also part of the FTSE 250 Index
- Their Amazing Proprietary platform – The platform in question is fantastic. Simplicity at its finest in our opinion
- Great Demo environment – Unlike some broker, they really make it simple to distinguish and switch between demo and live account – Giving traders the comfort of honing their trading skills with demo funds before they switch to live
- Their App ratings – Plus500 are right amongst the highest rated apps on both the google play and apple store
- Their Vision – Of being the Number 1 Global CFD Broker
Support
Plus 500 have plenty of lines of premium support for all traders to use.
Let’s start with their FAQs section.
- FAQs – Probably the best FAQ section we reviewed of any broker. at least 9 times out of 10 we found the answers we were looking for before even having to speak to any staff members
- Languages covered – They cover a whole host of languages for client support. Their website alone can be translated into over 30 languages!
- Easy to use email form – So you can send specific queries to specific departments at the click of a button
- 24/7 support – Something that not all brokers can do but something that we always look for with our brokers!
- Live Chat – Their Live chat functionality was second to none and the few tests we made with their support team – we couldn’t fault them in any way
Trading Costs
When compared with the rest of the brokers we reviewed, Plus500 come in around the middle ground when looking at fees and spreads. But when you consider the sheer amount of tradable symbols you get – Its not a bad deal at all.
Lets take a look at some of the fees associated with Plus500:
- Deposits and Withdrawals – No fees whatsoever, which we love!
- Inactivity Fee – They do charge one, however it doesn’t kick in for 3 months and even then its $10, which is a snip compared with some of the brokers out there
- Guaranteed Stops – Another fantastic feature from Plus500 is that they can guarantee you stop loss orders. There is a small charge for this which just means that your spread is slightly wider when using this type of order
- Spreads – This is how they make their money. By charging you guys a spread. In fact this is how most brokers make their money. When comparing 10 of the major symbols against other brokers, Plus500 were just below the average fees and charges we saw. Not bad at all!
- Other Fees – There are also Overnight funding charges and Currency conversion fees, which are common with most Brokers. For details on full trading fees and charges, please visit their site here
Platforms and Tools
The trading platform offered by Plus500 is fantastic. We don’t want to go into too much detail and sings its praises too much. But basically I’d describe it as ‘Simplicity Personified’.
Lets take a look at some of the features that we enjoyed:
- Platform Simplicity
- Vast amount of symbols to trade
- Great charting
- Super User-Friendly
- Nice easy, slick reporting system
- Web and Mobile Compatibility
- Good security involved in the login process
For more on the platform, please visit the website here
Products
As previously mentioned on this topic, Plus 500 offer a vast array of assets classes and symbols to trade. Well over 2000 which is by far the largest selection of all brokers we reviewed.
These symbols included:
- FX – Over 50 pairs
- Commodities – Covering all of the usual sectors
- Indices – A full Global spectrum
- Shares – The largest plethora of equities we found
- Metals – Again all of the usual suspects
- Cryptocurrencies – Bitcoin, Bitcoin Cash, Etheruem, and Litecoin are offered to Professional Clients (Availability subject to regulations)
- ETFs – one of our favourite asset classes, somewhat of a rarity at retail brokers
- Options – A real rarity these days with retail brokers and something that really stands out from the competition