Reviews

Plus 500

Good Broker/Excellent demo account and educational resources for Beginner Traders, combined with good trading account for advanced traders.

Minimum Deposit is $100

Overall Summary 4.7/5 stars rating based on analyzing 300+ criteria and testing the broker’s trading platforms and tools.

Regulation 5.00
Platforms and tools 4.70
Commission and spreads 5.00
Education and Research materials 4.70
Costumer support 5.00
Mobile trading 4.80
Overall Rating 4.70

Review

Plus 500 is a trusted global brand, which is great for beginner traders because it offers user friendly demo accounts and good educational materials. It is also excellent for advanced traders as it provides good trading platforms and tools. It is secured and protected, licensed, and regulated by a variety of global regulators and has professional costumer service support. The company is a rapidly growing CFD provider and currently offers its portfolio of over 2800 instruments.

Regulatory Compliance

Plus 500 is safe broker. It was established in 2008 and it is authorized and regulated by reputable financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) – (#250/14) and the Financial Conduct Authority (FCA) – (FRN 509909) in the UK. In addition, Plus500AU Pty Ltd (ACN 153301681) is licenced by the the Australian Securities and Investments Commission ASIC – (AFSL #417727), the Financial Markets Authority (FMA) in New Zealand – (FSP #486026), and the Financial Services Provider (FSP) in South Africa – (#47546).

Broker’s Investment offerings

Plus 500 offers over 2,800 instruments from a wide range of asset classes. These include Indices, Forex, Commodities, Shares, Options and ETFs. The table below has summarized the available markets in Plus 500:

Markets

Forex Yes
Futures yes
Indices yes
Shares yes
Metals yes
Energy yes
Cryptocurrencies CFDs yes

Trading Platforms and tools

Plus 500 web trading platform is called WebTrader. This platform is an excellent choice for beginner traders, as well as advanced traders. It is user friendly platform, combined with great educational resources for beginner traders. Advanced traders found the platform a great choice as well, given the fact that it has professional trading tools and great market analysis.

The Plus500 web platform features 110 indicators, over 20 drawing tools, and 13 different chart types.

WebTrader allows users to create watchlists easily, analyze charts, enter trades, and monitor positions in the market.

All basic order types, such as market, limit, and stop loss, are available. Trailing stop orders and guaranteed stop loss orders are also available.

Plus500 does not support algorithmic trading, social copy trading, or the MetaTrader suite of platforms – though it does provide its own proprietary trading platform.

Plus 500 offers a mobile app which closely mirrors the web trading platform. The Plus500 mobile app is available for iOS, Android, and Windows.

The mobile app has a range of great features including:

Two Factor Authentication

Demo mode – users can switch between demo account and live trading

Users can have alerts sent via email, SMS, or push notification when an asset reaches a set level.

Economic Calendar. The Plus500 economic calendar shows all the key information about upcoming releases.

Users can follow popular instruments, a particular asset class, risers, and fallers, or create their own list of instruments to track.

The mobile trading app provides 13 chart types, 11-time frames, 119 indicators and 21 drawings tools.

In conclusion, Plus 500 has great web trading and mobile trading platforms for the causal trader.

Spreads and Commissions

Plus 500 offer fair pricing for their clients. The pricing is in line with the industry average. The broker offers 0 commission for deposits, live share CFD prices, real-time forex quotes, opening / closing trades, and dynamic charts & graphs. Plus 500 is mainly compensated though the spread. Other fees can be applied to a client, depending on their trading activity. Such fees include overnight fees, currency conversion fees, guaranteed stop order and inactivity fees (applied after three months of inactivity.

Costumer support

Plus 500 has a great costumer support team available 24/7. They can be reached via phone, online chat, and email.

Reputation

Plus 500 is global multi-asset group operating around the world, having excellent demo account and educational materials for beginner traders along with great trading platforms for beginner and advanced traders. It has excellent client testimonials. It is fully licensed and regulated, making it a safe broker to use.

Education and research materials

Plus 500 offer Trading Academy on their website. There the costumers could find ‘how-to’videos, trader’s guide, beginner’s guide, webinars, and eBooks. The educational material is especially helpful for beginner traders, as it provides a lot of basic, but very important information for the beginner trader. Our team has concluded that Plus 500 has one of the best educational materials for beginner traders.

Deposit and Withdrawal Methods

You can deposit money in your Plus 500 account via: Cards – only Visa or MasterCard are acceptable, electronic wallets (PayPal or Skrill) or Bank transfer (direct bank to bank funds transfer). The Plus500 withdrawal methods are bank wires, credit/debit cards, skrill, neteller, and paypal. The withdrawal takes a little longer time.

Pros and Cons

Pros

  • Founded in 2008, Plus500CY Ltd is authorized & regulated by CySEC (#250/14)
  • User – friendly demo account, great for beginner traders and good web trading platforms for advanced traders
  • Advanced trading tools
  • Great educational materials for beginner traders
  • Easy account opening process

Cons

  • Withdrawal takes longer time
  • May not attract advanced traders, because of narrow selection of market research

 

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a substantial risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the substantial risk of losing your money.