Our take on Plus500
Plus500 is a global CFD broker, listed on the London Stock Exchange's Main Market and regulated by many authorities including the UK FCA and CySEC of Cyprus. Plus500 has a simple, easy-to-use site, with an especially well-designed mobile platform. The account opening process and customer support are great. During our account opening testing, our account was opened within a day. Plus500 also provides a demo account that can be opened immediately. On the negative side, Plus500 has standard research tools, like recommendations and fundamental data are not available. Also, CFD trading fees are average. BrokerChooser gave Plus500 a 4.7/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Pros | Cons |
---|---|
• Easy-to-use platform
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• Mediocre research tools
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• Great account opening
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• Average CFD fees
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• Quick and helpful customer support
|
|
Plus500 main highlights
🗺️ Country of regulation | UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel, Seychelles |
💰 Trading fees class | Low |
💰 Inactivity fee charged | Yes |
💰 Withdrawal fee amount | $0 |
💰 Minimum deposit | $100 |
🕖 Time to open an account | 1 day |
💳 Deposit with bank card | Available |
👛 With electronic wallet | Available |
💱 Number of base currencies | 16 |
🎮 Demo account provided | Yes |
🛍️ Products offered | Futures, CFD |
Plus500 summary
- No withdrawal fee
- Inactivity fee applies only if you don't log in to the platform
- Average forex CFD fees
Plus500 review
Fees
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Account opening
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Deposit and withdrawal
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Web trading platform
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Mobile trading platform
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Desktop trading platform
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Markets and products
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Research
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Customer service
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Education
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Legitimacy
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Bottom line
Plus500 is a good CFD broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK's FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by regulators from other countries where different investor protection rules may apply.
Attention Daytraders! At Plus500, scalping is defined as "a trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.
The Plus500 platform is easy to use, providing a great user experience even for first-timers. The account opening process and customer support are great.
On the other hand, the brokers' research tools are limited, CFD fees are average and their educational site has room for improvement.
As there is a low minimum deposit required, no withdrawal fee for withdrawals over $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try. Just be sure not to use all of your capital, as it is really easy to lose money when trading CFDs with this – or any – provider. There's always a high risk of losing your capital when trading with CFDs, be careful!
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