Login

New to Benzinga?

Register

Already have an account?

Plus500 Review

Plus500 is an online brokerage tailored to the advanced trader looking to diversify their portfolio of CFDs.

securely through Plus500's website

1 Minute Review

Plus500, owned by Plus500CY, a Cyprus-based company and a subsidiary of LSE-listed Plus500 Ltd, offers contract for differences, or CFDs, in various underlying assets. Founded in 2008, it offers CFDs of diverse asset classes, including bitcoin and options and its 300,000-plus active customers trade over $1.270 trillion.

Best For

  • Advanced traders
  • Cost-conscious traders
  • Traders looking to invest in diverse asset classes

Pros

  • Simple and easy-to-use trading platform
  • Breadth of asset offerings
  • No commission on CFD trading
  • Well-regulated
  • Availability of a demo account

Cons

  • Lack of educational resources and well-rounded research
  • Relatively higher spreads, especially for guaranteed stops
  • No available phone support
  • Doesn’t offer services to U.S. residents

The Plus500 platform is one of the highest rated apps for trading CFDs on both the Google Play Store and Apple App Store. Plus500 is known for their simple yet powerful tools and features. They not only place importance on finding new customers, but on the satisfaction of their current users and keeping them satisfied with the services they provide.

Who's Plus500 For?

  • Advanced traders: Since there’s little by way of guidance in the form of research or education, advanced traders would see the most benefit. If you’re a DIY trader, the firm offers some tools, including alerts and risk management strategies.
  • Cost-conscious traders: Relatively low spreads, lack of commission and low account minimum makes it a better fit for cost-conscious traders.

Plus500's Commissions & Fees

Plus500 claims to offer most of its services free of cost and makes its money through bid/ask spreads. Customers aren’t charged for deposits or withdrawals, real-time forex quotes, dynamic charts or graphs, live share CFD prices, opening/closing trades or rolling positions.

Additional trading fees may include:

  • Overnight funding fees: The amount added or subtracted from an account when holding a position after a certain time called the “overnight funding time”
  • A $10 inactivity fee if you don’t log in to your trading platform for three months

Plus 500 offers leverage of up to 1:30 for retail accounts and up to 1:300 for a professional account.

Negative balance protection, available for both account types, ensures that you don’t lose more money than what is available in your account. The account balance automatically adjusts to zero if it goes into negative due to trading activity.

Plus500's Platform & Tools

Plus500 offers fast, reliable order execution through its web-based and mobile trading platforms through WebTrader as well as iPhone/iPad, Android app and Windows Phone app.

Source: https://www.plus500.com/

Advanced tools and features include stop limit/stop loss/trailing stop, guaranteed stop, free email and push notifications on market events and alerts on price movements.

Source: https://www.plus500.com/

Plus500's Research

Plus500 does not offer extensive proprietary or third party research options and offers absolutely no educational content. A Traders’ Sentiment indicator provides insight into what other clients are trading. Plus500’s technical analysis chart offers over 100 technical indicators.

An economic calendar powered by Dow Jones is offered on both website and platform.

Plus500's Security

Clients’ funds are held by Plus500 in accordance with the Cyprus Securities and Exchange Commission’s client fund rules, which mandate that client funds are paid into a segregated client bank account. The firm does not invest funds of retail clients.

The firm also states that it is debt-free, has sufficient liquidity and significant surplus capital reserves over its regulatory requirements.

Its subsidiaries in the rest of the countries in which it operates are regulated by regulators of those particular countries.

  • Plus500UK: U.K. Financial Conduct Authority
  • Plus500AU Pty Ltd: Australian Securities and Investments Commission
  • Plus500SG Pte Ltd: Monetary Authority of Singapore for dealing in capital markets products
  • Plus500IL Ltd: Israel and licensed to operate a trading platform.

Apart from what is guaranteed by the regulatory bodies under whose purview the firm falls under in each country, it does not offer any additional deposit insurance.

Source: https://www.plus500.com/Help/Offices

Plus500's Customer Support

Plus500 offers customer support in 32 languages and a webpage dedicated to frequently asked questions on several topics:

  • Account verification process
  • Deposits
  • Fees and charges
  • Financial instruments
  • Opening an account
  • Regulators
  • Submitting document identification
  • Trading
  • Withdrawals

The firm’s online support team is available 24/7. Plus500’s website offers an online questionnaire for questions not answered by FAQs.

Plus500's Tradable Asset Classes

Plus500’s breadth of asset classes is commendable, as it offers CFDs on the following underlying assets:

  • Indices (27 indexes, including that of the German DAX, Russell 2000, Nasdaq 100, VIX etc)
  • Shares
  • ETFs
  • Commodities (20 including crude oil, base metals, precious metals and agricultural commodities)
  • Forex (66 currency pairs)
  • Options
  • Cryptocurrencies (10 cryptos)

Check out a more detailed list of individual securities within each of these asset classes.

Plus500's Ease of Use

Opening an account at Plus500 is fairly simple.

  1. Download the platform
  2. Follow the trading platform download, and create a Real Money account or switch to a demo mode.
  3. Once the Real Money account option is selected, an account can be created by inputting email address password and phone number.
  4. Choose wire transfer, Visa/MasterCard, Skrill, or PayPal to begin trading.

A Demo account can be opened during the registration process by clicking on the Demo mode in the Select Account Mode window. The platform also allows switching back from Real Money mode to Demo mode by clicking on the Switch to Demo mode.

Plus500’s trading platform scores high in terms of ease of use, as it allows trading multiple markets from a single screen.

Final Thoughts

Plus500 could work for you only if you’re willing to take on some degree of risk. However, the negative balance protection and risk mitigation strategies offered can help to offset some risk. Plus500 offers an easy-to-use trading platform, though it’s handicapped a lack of research and educational offerings. Low account minimums and no commissions appeal if you’re cost-conscious. A lack of phone support is a negative. If you have your own sources of  research and analysis, Plus500 might work for you, particularly if you’re looking for diversity in product line-up.