- CFD Trading
- Low Spreads
- No Hidden Fees
- Technical Tools
- Trade Now!
*772% of retail CFD accounts lose money.
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.
- Max Leverage: 1:30
- 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. 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 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 spreads depend on the trading instrument and are constantly adjusted according to the market spread. Commission charges remain competitive 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.
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. 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.
|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|
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The information displayed herein about Plus500CY Ltd. and its services is merely generic and derived from publicly available reliable sources or received from Plus500CY Ltd. (Entity authorized to operate in Spain through the passporting regime, reg no. 384).