Plus500 review summary
Recommended for experienced traders looking for an easy-to-use platform and a great user experience
Plus500 is a London Stock Exchange-listed global CFD broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Being listed on a stock exchange, regulated by several top-tier financial authorities, and disclosing its financials publicly are all good signs for Plus500's safety.
Plus500 review
Plus500 pros and cons
Plus500 has a simple, easy-to-use site, with an especially well-designed mobile platform. The account opening process and customer support are great. We tested the account opening and our account was up and running within one day.
On the negative side, Plus500 only offers the standard research tools; recommendations and fundamental data are not available. CFD trading fees are average and their education section has room for improvement.
| Pros | Cons |
|---|---|
| • Easy-to-use platform | • Mediocre research tools |
| • Great account opening | • Average CFD fees |
| • Quick and helpful customer support | • Hard-to-find educational tools |
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer for daytraders: At Plus500, scalping is defined as a "trading strategy based on the notion that client transactions are opened and closed within 2 minutes in order to accumulate quick profits from small price changes." If Plus500 believes that you are following this strategy, your account may be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.
| 🗺️ Country of regulation | UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel, Seychelles |
| 💰 Trading fees class | Average |
| 💰 Inactivity fee charged | Yes |
| 💰 Withdrawal fee amount | $0 |
| 💰 Minimum deposit | $100 |
| 🕗 Time to open an account | 1 day |
| 💳 Deposit with bank card | Available |
| 👛 Depositing with electronic wallet | Available |
| 💱 Number of base currencies supported | 16 |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | Forex, CFD, Real stocks |
Plus500 review
Fees
Plus500 has low stock trading fees and charges no withdrawal fee. There is an inactivity fee, but it's charged only if you don't log in to the platform. On the negative side, forex fees are high.
| Pros | Cons |
|---|---|
| • Low real stock fees | • High forex fees |
| • No withdrawal fee | |
| • Inactivity fee applies only if you don't log into the platform |
For fee calculations and further details, check out our Plus500 Fees page.
Plus500 introduced a new service in 2021 and since then, Plus500 allows you to invest in real stocks. We'll guide you how to buy stocks, step by step in the article above.
The fees/spreads were collected on December 13, 2021, between 2 p.m. and 4 p.m. CET. Rates are subject to change. To see current rates, check Plus500's website.
Plus500 review
Account opening
Plus500's account opening is seamless, fast and fully digital. Your trading account is opened within a day.
| Pros | Cons |
|---|---|
| • Fast | • None |
| • Fully digital | |
| • Low minimum deposit |
Can you open an account?
For more information on account types, minimum deposit, base currencies, the account opening process and pricing, check out our Plus500 account article.
Plus500 review
Deposit and withdrawal
At Plus500, deposit and withdrawal services are great. There are several options to deposit and withdraw funds, and the processes are simple and free of charge.
| Pros | Cons |
|---|---|
| • Credit card available | • None |
| • Free withdrawal | |
| • No deposit fee |
Account base currencies
At Plus500, there are several currencies available, even minor ones, but it is not transparent how many and which ones. The following account currencies are available for sure: USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK and SGD. The default account currency is set based on your country of residency.
You need to contact customer support if you wish to change your base currency.
| Plus500 | ActivTrades | Spreadex | |
|---|---|---|---|
| Number of base currencies | 16 | 4 | 4 |
Why does this matter? For two reasons. If you fund your trading account in a different currency than your bank account or you trade assets in a different currency than your trading account base currency, you will have to pay a conversion fee.
Plus500 will charge a currency conversion fee of up to 0.7% for all trades on instruments denominated in a currency different from the currency of your account.
A convenient way to save on currency conversion fees is to open a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
Plus500 charges no deposit fees.
As with other CFD brokers, there are a lot of depositing options at Plus500:
- Bank transfer
- Credit/debit card
- Paypal
- Skrill
Which e-wallet options are available depends on your region; not all options are available in every country.
| Plus500 | ActivTrades | Spreadex | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | No |
A bank transfer can take several business days, while payment with a credit/debit card and electronic wallets is instant.
You can only deposit money from accounts that are in your name.
Plus500 withdrawal fees and options
Plus500 withdrawal is free of charge, but you can make only 5 withdrawals per month. If you exceed this number, Plus500 may charge $10 for each additional withdrawal. The minimum withdrawal amount is $50 for PayPal/Skrill and $100 for bank transfers and credit/debit cards.
The same withdrawal methods are available as for deposits.
| Plus500 | ActivTrades | Spreadex | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | No |
| Withdrawal fee | $0 | $0 | $0 |
How long does it take to withdraw money from Plus500? We tested debit card withdrawal and it took more than 2 days business days
You can only withdraw money to accounts in your name.
As with deposits, not all e-wallet withdrawal options are available in every country.
How do you withdraw money from Plus500?
- Log in to your account.
- Click the 'Menu' icon in the top left corner.
- Click 'Withdraw'.
- Enter the amount you'd like to withdraw.
- Initiate the transaction by clicking 'Open a Withdrawal'.
Plus500 review
Trading platforms
The Plus500 web trading platform is easy to use and looks great. On the negative side, it cannot be customized.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability for workspace |
| • Clear fee report | |
| • Two-step (safer) login |
We tested the platforms and summarized the results in our Plus500 webtrader article; check it out for a detailed guide to all the features and functionalities.
Plus500 review
Markets and products
At Plus500 you can trade mainly CFDs (CFD forex, stock index, stock, ETF, commodity and crypto) and stocks. Further popular asset classes, like ETFs or futures, are not available.
Plus500 is a CFD broker. To learn more about CFDs read our CFD trading tips.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Plus500 offers a good selection of CFDs, although it falls short compared to some of its competitors.
On the other hand, they offer a wide range of stocks, unlike their closest competitors.
| Plus500 | ActivTrades | Spreadex | |
|---|---|---|---|
| Currency pairs (#) | 70 | 49 | 51 |
| Stock index CFDs (#) | 26 | 27 | 27 |
| Stock CFDs (#) | 1,900 | 660 | 3,000 |
| ETF CFDs (#) | 95 | 500 | 200 |
| Commodity CFDs (#) | 25 | 38 | 26 |
| Bond CFDs (#) | - | 5 | 10 |
| Cryptos (#) | 14 | - | - |
Disclaimer for cryptos: availability subject to regulations. Also, as of January 2021, the FCA banned the sale of crypto-derivatives to UK retail consumers.
You can trade options on a few stock CFDs and stock index CFDs. Thematic indexes are also available, i.e. the Cannabis index.
You cannot change leverage levels, which is a drawback. Changing the leverage is a very useful feature if you want to lower the risk of your trade. Be careful with CFD trading, as preset leverage levels are high and investors can easily lose money when trading CFDs.
A general word of advice: tread carefully when trading CFDs, as there's a high risk of losing money here.
Stocks and ETFs
Plus500 clients can trade real stocks as well
You can invest in stocks in the following markets: EU countries, Switzerland, Norway.
This service is available only to clients under CySEC (EEA countries).
| Plus500 | ActivTrades | Spreadex | |
|---|---|---|---|
| Stock markets (#) | 18 | - | - |
| ETFs (#) | - | - | - |
Plus500 review
Research
Plus500 has limited research functionalities. Charting tools and its own market analyses are great, but recommendations, fundamental data or news are not available.
| Pros | Cons |
|---|---|
| • Good interactive charts | • No trading ideas |
| • User-friendly | • No fundamental data |
| • Market analysis | • No/poor quality news flow |
Plus500 does not provide trading ideas or fundamental data on assets.
Charting
The charting tool is great . There are 119 technical indicators and excellent editor tools. You can also save the charts.
This is great for clients looking for a massive selection of technical indicators. The most popular technical indicators such as RSI, MACD, etc., are all available
Clients can use multiple charts at the same time, which is a great feature. If you want to use it, click on 'Multiple charts view'.
Disclaimer: Illustrative prices.
News feed
You will find a well-designed economic calendar and market analyses prepared by Plus500's research team, but there is no news feed or newsletter
You can find short analyses about market events and companies. You can access these analyses if you go to Plus500's website, click on 'Trading', and select 'News & Market Insights'.
We liked the economic calendar. You can filter for macro or company-related events.
Other research tools you may enjoy
You can use Plus500's Traders' Sentiment tool, which shows the proportion of buyers and sellers at Plus500 for a given asset.
In addition, there is a 'Live Statistics' feature, which shows data about the price of an asset, such as the lowest/highest price within 5 minutes, 60 minutes, or 1 day.
Disclaimer: Illustrative prices.
Plus500 review
Customer service
Plus500 provides outstanding customer support that is available 24/7. Both the live chat and email support are quick and reliable.
| Pros | Cons |
|---|---|
| • Live chat | • No phone support |
| • Relevant answers | |
| • 24/7 availability |
You can contact customer service via live chat, WhatsApp and email. There is no phone support, but there is an integrated 'Contact Us' page for inquiries.
We tested the Plus500 live chat several times. It was always quick and reliable. For example, when we asked about fees they provided all relevant fees, including financing rates.
The email customer support was also great. They replied within one hour, which is extremely fast compared to other brokers. The answers we got were all relevant.
In addition to the good quality of customer service, it is also available 24/7, which is not the case at most other brokers.
Plus500 review
Education
Plus500 only provides a demo account, and a few basic videos and articles about trading. There are no webinars available and the education section is not well-structured.
| Pros | Cons |
|---|---|
| • Demo account | • No webinars |
| • Educational videos | • Materials are not well-structured |
| • Educational articles |
At Plus500, you can learn in the following ways:
- Demo account
- Basic educational and trading platform videos
- Educational articles about asset classes, risk management tools, and an FAQ section
- An ebook about using the trading platform (that can be downloaded from the trading platform)
You can find the educational tools on the Plus500 website, under 'Trading' if you click on 'Risk management' or 'Trader's Guide'. In addition, if you browse their FAQ, you will find a few more videos detailing, for example, the process of payment verification. These can be of great use, as there's a high risk of losing money when trading CFDs with this - or any - provider.
To practice, it's best to try out the demo platform, where you will be trading with virtual money and your potential losses remain virtual as well. It is recommended that you practice trading with the same amount of virtual currency as you would in real trading.
On the negative side, the educational materials on the website are not well-structured. It was hard to find the various educational tools, and we also missed the availability of webinars.
Plus500 review
Safety
Plus500 is listed on the London Stock Exchange and is regulated by more than one top-tier financial authority. On the negative side, it does not have a banking license.
| Pros | Cons |
|---|---|
| • Listed on stock exchange | • Does not hold a banking license |
| • Financial information is publicly available |
We collected vital safety-related information in our About Plus500 article. This is a must-read, as CFD brokers often carry a higher risk than large traditional brokerages.
Plus500 review
FAQ
We recommend Plus500 for experienced traders looking for an easy-to-use platform and a great user experience.
Below you can find links to all aspects of Plus500 in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our Plus500 fees article.
How to open your Plus500 account?
Look no further than our evaluation of the Plus500 account opening.
How to buy silver on Plus500?
Research in the silver on Plus500 guide
I want to trade options, are they available at Plus500?
We explored the topic in Can you trade options on Plus500?
How do you withdraw money from Plus500?
We tested it and collected the options and costs in How to withdraw money on Plus500.
Further reading:
