Plus 500 is a multi-regulated forex broker that allows trading in many trading instruments, including forex, stocks, indices, cryptocurrencies, and ETFs. Moreover, this broker offers trading with a zero commission environment, but the biggest drawback is that it does not provide MT4 and MT5 trading platforms. Furthermore, it does not provide services to US clients.
Can Plus500 be trusted?
Regulation
The broker holds regulation from multiple authorities from leading places. We have found this broker and its subsidiaries as regulated by these authorities:
- By the Financial Conduct Authority (FRN 509909).
- By the Cyprus Securities and Exchange Commission (CySEC 250/14).
- By the Seychelles Financial Services Authority (SD039).
- Plus500AU Pty Ltd holds AFSL No. 417727 issued by ASIC, FSP 486026 published by the FMA in New Zealand, and Authorised Financial Services Provider No. 47546 issued by the FSCA in South Africa.
- Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (CMS100648-1).
- Registered in Israel and licensed to operate a trading platform.
Foundation
The broker has been operating since 2008.
History
The broker is most important because the UK Financial Supervisory Authorities regulate it. Plus500’s headquarters are located here. This eliminates the risk of fraud. The company has been operating since 2008. A solid trading experience also instills customer confidence. The company is listed on the London Stock Exchange.
Location & Offices
The head office of Plus500 is located at Matam, Haifa, Israel. Its subsidiaries’ offices are located in Tel Aviv, London, Sydney, Singapore, and Limassol. Plus500 is a leading FX and CFDs service provider in Asia and Europe that offers more than 1000 instruments to its clients. The company became popular among mass people after becoming the sponsor of Europa League Champions for the following two sessions.
Markets overview
Plus500 provides trading opportunities in indices, forex, commodities, crypto, shares, options, and ETFs. Therefore, the company has a strong position based on the availability of instruments and diversification opportunities.
Indices
- It provides trading opportunities in S&P 500, NASDAQ 100, FR 40, etc.
- Ability to trade with leverage up to 1:300
Forex
- Plus500 offers more than 70 trading instruments from forex majors, minors, cross, and exotics
- You can trade with zero commission in all trading instruments
Commodities
- Plus500 offers trading opportunities in commodity CFDs like gold, oil, and silver
- Provides the ability of free demo testing
- Available leverage is a maximum of 1:500
Shares
- The broker offers trading in most of the significant shares in the US, UK, and other markets
- You can trade with world-famous companies like Facebook, Apple, Microsoft, etc.
Options
- There are very few brokers that offer the forex and options trading together, and Plus500 is one
- The broker provides options trading with 1:5 leverage
ETFs
- The broker offers ETFs like VXX volatility and SPDRUSA500
- Available leverage is a maximum of 1:100
Comparison with other brokers
| Plus500 | FXTM | AvaTrade | RoboForex | Forex4you | InstaForex | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes | No | Yes |
| ETFs | Yes | No | Yes | Yes | No | No |
| Options | Yes | No | Yes | No | No | Yes |
Platforms overview
The broker provides retail and professional accounts trading opportunities through the proprietary platform. The desktop version of this platform is also available that a trader can easily install on a personal computer. Moreover, it is also available in the windows store and Google PlayStore.
The trading screen is divided into three main sections, and the menu is located on the left side of the screen. The upper section of the trading screen is reserved for the asset selection dialog, while the lower screen displays a trading chart.
You can choose to display a line chart or a Japanese candlestick chart for the latter. Various technical indicators can be superimposed on the quotes chart for in-depth analysis of price fluctuations at your service. The graph time range can be adjusted from one minute to one week.
Although the platform is not similar to the MT4 or MT5 platforms, it has multiple trading functions and efficient tools. On the other hand, the drawback of the platform is that traders will not be able to use any expert advisors written in the MQL4 language.
Plus500 affiliate program
A partner earns from $200 to $800 for a referred client who has opened a trading account and started trading. The amount of remuneration varies depending on the partner’s country of residence.
Another option for making money is attracting customers through a referral program.
The essence of the referral program is to advertise the broker’s services on various Internet sites. The broker provides partners with all the tools they need to make this: banner ads, widgets, a list of landing pages.
The partner is entitled to a reward of 10% of the commission that the referred partner earned during the month. The partner is paid a financial reward for each attracted client who started active trading.
Useful Plus500 services:
- Economic calendar
Allows traders to trade in real-time and plan deals based on upcoming market events.
- Risk management
Allows the user to set the required stop-loss and stop-limit levels.
- Notifications
The task of the service is to notify traders about prices, changes in percentages per day or hour and show the ratio of sellers to buyers using messages by e-mail, phone, or notifications on the site.
Is Plus500 good for mobile trading?
Mobile trading is essential for every trader these days. Many traders also want to manage their portfolios from their mobile phones. Plus500 offers an app for iOS and Android. This allows you to react very quickly to political events or fundamental news.
The application has a similar design for a computer trading platform. The chart can also be adapted to the trader’s trading style. Even the latest news can be accessed through the app. This way, the app rounds up the broker’s portfolio, and Plus500 offers everything a trader needs.
Plus500 fees
Trading commissions
The broker does not take any charge or commission on trading. As per our findings, this platform provides a low-cost trading service for all traders.
Other information regarding fees and commissions:
- 0 fees on deposits
- 0 fees on withdrawals
- 0 fees on rolling positions
- 0 fees for position extension
Non-trading commissions
- Spread on any open trading position
- Percentage fee for overnight positions
- $10 fee due to inactivity after three months
- You see, the fees are transparent on the platform
- Overnight funding
- Currency conversion
Deposit & Withdrawal
Payment methods
Plus500 has both electronic and bank payment opportunities for traders. You have to follow some simple steps after opening the account to make a deposit.
The available deposit methods:
- Credit/debit card
- Bank transfer
- PayPal
- Skrill
Withdrawal method
Withdrawal initiation takes place in the same way as account replenishment. Instead of a deposit, you need to select the withdrawal option in the Funds Management section. The overall withdrawal process takes one to three business days.
After the withdrawal request gets approved, you may have to wait a couple of extra days to see the funds in the account:
- Credit cards
According to the required time to process bank transactions.
- Bank transfer
Five business days in average.
- Electronic wallets
Three to seven business days.
Minimum deposit
$100
Base currencies
USD
Where does Plus500 excel?
- A large number of trading assets
- The ability to choose the language of the site (31 languages)
- The ability to trade from mobile devices
What are Plus500 disadvantages?
- The site does not contain comprehensive information that a trader needs to know about trading conditions
- The trading platform freezes periodically
- There are problems with the withdrawal of funds
Who Plus500 is best for?
Plus500 is a good choice for both novice traders and experienced ones. Beginners will love the simplicity of the trading application, it can be quickly figured out. Experienced will be impressed by the abundance of trading instruments: 2000 CFDs and 60 currency pairs.
Conclusion
Plus500 is a broker that combines the latest technologies and a conservative view of trading, which involves exclusively independent trading without trading robots and programs.
The company has two types of accounts, one of which is real and the other is a demo. The broker’s website contains information about all trading assets and the fundamental change in their prices, allowing traders to track the market situation. To trade, market participants do not need to install various programs on their PC. The trading terminal is available in web format and as a mobile application. There is also a Windows 10 Trader platform.
Overall, based on our review Plus500 has the maximum funds safety as it uses tier one liquidity from multiple world-class liquidity providers. However, the main drawback of the platform is that it does not provide an MT4 or an MT5 platform.
