- CFD Trading
- Low Spreads
- No Commissions
- Technical Tools
- Trade Now!
Read our Plus500 Review and Discover More about the CFD Broker.
Plus500 began its journey in 2008 when its PC-based online trading platform was launched. Today it gives clients the opportunity to trade on price movements of CFDs on indices, shares ETFs, options, commodities and Forex, without having to buy or sell the underlying instruments. With offices all across the globe, it has become an internationally renowned financial services provider that is one of our top choices.
- $20 Trading Bonus: T&Cs Apply
- Max Leverage: 1:294
- Spread: 1.8
- Forex Licences: CySEC, FCA, ASiC
A brief introduction to Plus500
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission, is authorised to issue these products to Australian residents. You do not own or have any rights to the underlying assets. Please consider our disclosure documents available on our website.
Plus500 is a trademark of Plus500 Ltd. Its financial services are provided by a number of subsidiaries, all of which are licensed and regulated in the country where they are based, so it’s pretty obvious that Plus500 take the issue of licensing very seriously. Plus500 Ltd is listed on the AIM section of the London Stock Exchange. All of the above should give any trader complete peace of mind.
Plus500 are able to offer investors a diverse range of tradeable instruments, certainly more than many other brokers we get to review. There are more than 2,000 to choose from, including CFDs on shares, foreign currencies, indices, options, commodities, and ETFs.
Plus500 decided to design their own trading platform.
What traders want and need has been taken into consideration by Plus500, and rather than use a trading platform that was already popular, it was decided to design one of their own. In no way is it overshadowed by MT4; in fact, it is more than capable of holding its own. Minimalist yet fully functional, it can be modified to suit individual traders’ needs. There is a desktop version, a Web browser and a Plus500 mobile app, which is compatible with all mobile devices.
All the important account information
Aside from the unlimited demo account, there is only one real-money account, with a minimum deposit of $100. The fact that the demo account has no time limit is a really great benefit. Many other brokers only allow traders to use this type of practice account for a short period of time. Plus500, on the other hand, appreciate that some traders may require longer to decide whether they are the right broker, and have been very generous with their free time. Once a trader is ready to deposit real money into an active account, the choice is simple. This may be perfect for clients who find so many account choices rather more of a burden. We happen to think it can be seen as a good thing, because all investors are treated equally.
The spread can be as low as 0.01% (0.01% = spread for EUR/USD) for major currency pairs, which is one of the more competitive spreads in the market. There are no commission charges, as Plus500 make their money mostly by incorporating spreads into the market price. Leverage offered is not a big as that of a number of other brokers, but we don’t happen to think that’s a bad thing.
All the usual payment methods are supported, including credit cards, bank transfers, and Skrill.
Plus500 offer a welcome and a first-deposit bonus.
At the time of writing this Plus500 review, there are two bonuses available for newcomers. The first is a welcome bonus of $25 (T&Cs apply), which is not dependent on a trading account being funded. This is a good way for newcomers to try out a spot of real trading before deciding how much money to fund their account with. It does, however, require phone verification before the funds are added to the account. In order to withdraw the bonus and profits generated by the bonus, 100 trader points need to be achieved.
The second bonus is awarded once a first deposit has been made, and is worked out on a sliding scale, depending on the deposit. For example, a $100 deposit will be awarded a $30 bonus, a $500 deposit receives an extra $150, $750 receives a bonus of $200, while a trader who can deposit $5,000 gets an additional $1,000 (T&Cs apply to all of the above). A certain number of trader points have to be accumulated before the Forex bonus can be withdrawn.
Customer support is a little on the sparse side.
When writing our reviews we think that customer support is important, and we don’t just mean the fact that there are representatives on the end of the phone. We also think it is vital for investors to be educated, especially those who are new to the world of Forex trading. Some brokers have an extensive range of material, including videos, tutorials, seminars and webinars; but we couldn’t find any of this being offered by Plus500. We didn’t let this put us off too much, but it might make some of you look in another direction.
The quality of customer service was very good, and there was a live chat team member available 24 hours a day, 7 days a week. However, there was no telephone number, and only an email as an alternative. There is a FAQs section that possibly has the answer to many common questions, but there is nothing to match the level of service you can check with a real person on the other end of the phone.
There is really no surprise that Plus500 has managed to make a name for itself, even with the few little niggles we found. Trading with this broker is a pleasant enough experience, whether you happen to be a beginner or a more experienced trader. With almost 15 years’ experience they are certainly a broker worth trying, and in order to keep your risk to a minimum, it is great that there is an unlimited demo account, which means you don’t have to feel pressured into committing real funds unless you’re absolutely sure. Even if you’d prefer to experience real-time trading, the fact there is a no deposit bonus makes it even more worth your while.
|Company||Plus500 UK Ltd|
|Languages||English, Croatian, Polish, Bulgarian, Bahasa Melayu, Icelandic, Portuguese, Czech, Italian, Russian, Danish, Latvian, Romanian, German, Lithuanian, Slovenian, Estonian, Hungarian, Slovakian, Spanish, Maltese, Suomeksi, Greek, Dutch, Swedish, French, Norwegian, Turkish, Chinese, Chinese (Simplified), Arabic.|
|Deposit Methods||Visa, Mastercard, Maestro, PayPal, Skrill, bank wire transfer, and more|