Plus500 Review 2023

How we ranked fees

We ranked Plus500's fee levels as low, average or high based on how they compare to those of all reviewed brokers. teszt

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Plus500 for each asset class. For example, in the case of forex and stock index trading, the most important fees are spreads, commissions and financing rates.

We also compared Plus500's fees with those of two similar brokers we selected, eToro and Capital.com. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Plus500 alternatives.

To have a clear overview of Plus500, let's start with its trading fees.

Plus500 trading fees

Plus500 trading fees are average.

We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We selected popular instruments within each asset class:

• Stock index CFDs: SPX and EUSTX50
• Stock CFDs: Apple and Vodafone
• Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

• 20:1 for stock index CFDs
• 5:1 for stock CFDs
• 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for Plus500 fees.

Stock CFD and stock index CFD fees

Plus500 has overall average CFD trading fees.

There is no commission: everything is included in the spread when trading CFDs with this provider, i.e. the difference between the ask and bid prices. However, fees are lower at the featured competitors.

Forex CFD fees

Plus500 forex fees are average. Again, there is no commission, and everything is included in the spreads.

Futures fees

Plus500 futures fees are generally low. Futures trading is only available for US citizens through the Trade Sniper platform.

Non-trading fees

Plus500 has average non-trading fees. Plus500 charges no withdrawal, account or deposit fees.

On the other hand, there is an inactivity fee of $10 per quarter after 3 months of inactivity. However, you can get around having to pay the inactivity fee if you simply log in to the platform. At some other brokers, you have to trade in order to not be charged an inactivity fee, logging in is not enough. 

Can you open an account?

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86% of retail CFD accounts lose money

Plus500 accepts customers from many countries all around the world. Plus500's futures trading service is available to US clients too. 

What is the minimum deposit at Plus500?

The Plus500 minimum deposit is $100 for debit/credit cards and electronic wallets and $500 for bank transfers.

Account types

Plus500 only offers one account type for most clients, which is often referred to as a Retail account.

You can apply for a Professional account only if you meet two of the following three criteria: 

• Sufficient trading activity in the last 12 months
• Financial instrument portfolio over €500,000 
• Relevant experience in the financial services sector 

How to open your account

If you want an efficient and digital account opening process, Plus500 is the provider for you.

After the online registration, you have to verify your identity and provide proof of residency. You can upload a copy of your ID or passport to verify your identity, and a bank statement or utility bill to verify your residency. Alternatively, you can use a driving license or a residence permit for ID verification, or a toll taxes letter, salary slip or address card to verify your residency.

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 support if you wish to change your base currency.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't 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 by opening 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.

Compare digital banks

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. 

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 you $10 for each additional withdrawal. There is also a minimum withdrawal amount, which is $50 for PayPal/Skrill and $100 for bank transfers and credit/debit cards.

The same withdrawal methods are available as for deposits.

How long does it take to withdraw money from Plus500? We tested the debit card transfer withdrawal and it took more than 3 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?

1. Log in to your account.
2. Click the 'Menu' icon in the top left corner.
3. Click 'Withdraw'.
4. Enter the amount you'd like to withdraw.
5. Initiate the transaction by clicking 'Open a Withdrawal'.

Plus500 has its own-developed web platform, called Web-Trader. It is available in quite a lot of languages.

Look and feel

The Plus500 web platform has a clean, well-designed look and is easy to use. You can choose a dark mode as well.

On the downside, you cannot customize the platform.

Disclaimer: Illustrative prices.

Login and security

Plus500 provides a safer, two-step login. Google and Facebook authentication are also available, which is quite convenient.

Search functions

The search function is great, you will have no trouble finding anything. You can find the products categorized on the left or you can search by typing in the product name.

Placing orders

You can use the following order types:

• Market
• Limit
• Stop
• Trailing stop
• Guaranteed stop: this guarantees that your position will be closed even if there is a large market movement. However, if you use it, the spread will be wider. This is the extra cost of using this order type.

To get a better understanding of these terms, read our overview of order types.

These orders can be canceled at any time before they are executed, i.e. they are Good 'till Canceled (GTC). However, there are no other order time limits provided.

Disclaimer: Illustrative prices.

Alerts and notifications

We liked the platform's alert and notification functions. This is great, as investor accounts can easily lose money if they are not notified of sudden price changes. You can set up email, SMS and push notifications.

The alert lets you know if the price of an asset reaches a certain level or changes by a set percentage. Additionally, you can sign up to be alerted if the Plus500 Traders' Sentiment (the percentage of buyers and sellers among Plus500 customers) reaches a certain level.

Portfolio and fee reports

Plus500 provides transparent portfolio and fee reports. It is clearly indicated how much you paid in overnight fees. The composition of your current portfolio is also made clear, which you can check in the bar at the top of the platform.

Multiple Charts

Plus500 clients can view up to 9 charts simultaneously on Web-Trader. To enable Multiple Charts on the web trading platform, look for a button with four quadrants on the chart's toolbar.

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86% of retail CFD accounts lose money

The Plus500 mobile platform is very similar to the web platform. It has the same functionalities and is also user-friendly: same order types, same options for notifications. This is a great addition for investors trading CFDs, as they can be notified of sudden price changes in time.

You can download the trading app for iOS, Android and Windows. You can also use your smartwatch, but we stuck to a conventional smartphone and tested the mobile iOS app. It was great.

Plus500 provides a safe two-step login and you can also use biometric authentication, which is a convenient feature.

Disclaimer: Illustrative prices.

Disclaimer: Illustrative prices.

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86% of retail CFD accounts lose money

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86% of retail CFD accounts lose money

If you are interested in real stock trading visit our Plus500 Invest review.

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. 79% 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, althought it falls short compared to some of its competitors. 

You can also trade options on a few stock CFDs and stock index CFDs. There are thematic indexes as well that you can trade, e.g. Cannabis index.

You cannot change leverage levels, which is a drawback. Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with CFD trading, as the preset leverage levels are high and investor or CFD accounts can easily lose money when trading CFDs.

All in all – be careful, as there's a high risk of losing money here.

Plus500 does not provide trading ideas or fundamental data on assets.

Charting

The charting tool has great quality. There are 119 technical indicators and great editor tools. You can also save the charts.

This is great for clients looking for a massive selection of technical indicators. Most popular technical indicators are available, such as RSI, MACD, etc. 

We also liked that you can use multiple charts at the same time. To use this feature, 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.

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 events 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 the given asset.

In addition, there is a 'Live Statistics' feature, which shows a few data about the price of an asset, such as the lowest/highest price within 5 minutes, 60 minutes, or 1 day.

Disclaimer: Illustrative prices.

Compare research pros and cons

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. After the conversation, you can rate your customer agent instantly, which is a good way to provide feedback. 

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.

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86% of retail CFD accounts lose money

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
• An ebook about using the trading platform (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 'Trading Academy'. 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, as with this you are trading from a virtual account and thus 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. At Plus500 you can self-adjust your demo account balance.

You can also find educational materials on Plus500's Trading Academy that can be accessed on the Plus500 website under 'Trading' and 'Trading Academy'. Here you can read eBooks, watch videos or explore FAQs.

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86% of retail CFD accounts lose money

Is Plus500 regulated?

Yes, it is regulated by several financial authorities:

• the Cyprus Securities and Exchange Commission (CySEC)
• the UK's Financial Conduct Authority (FCA)
• the Australian Securities and Investments Commission (ASIC)
• the Financial Markets Authority (FMA) of New Zealand
• the Financial Sector Conduct Authority (FSCA) of South Africa
• the Monetary Authority of Singapore (MAS)
• the Israel Securities Authority (ISA) and
• the Seychelles Financial Services Authority (FSA).

Is Plus500 reliable?

To be certain if a brokerage is reliable, we highly advise that you check two facts:

• how you are protected if something goes wrong
• what the background of the broker is

How you are protected – Client Money Protection

Plus500 operates several subsidiaries; which one will serve you depends on your residency. The investor protection amount you get depends on the country of the entity you are signing up with.

For example, if you are from the UK, your account will be with Plus500UK Ltd and you will get £85,000 in investor protection. Plus500UK Ltd is regulated by the FCA, the UK's financial authority.

Plus500 provides negative balance protection for CFD trading. This means that if the balance on your account should go into negative territory, you will be protected.

Background

Plus500 is based in Israel and was founded in 2008. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Plus500 is listed on the Main Market of the London Stock Exchange, which is a big plus for reliability as Plus500 releases financial statements regularly and transparently. Other aspects, such as ownership and regulatory compliance are also all transparent. For a detailed description of Plus500 as a company, read our in-depth article. 

A financially strong parent company is a plus since it can provide the online broker with additional capital if needed. As of December 2021, the biggest owners of the company were mostly large investment banks and asset management companies, including Morgan Stanley. The biggest owner, Odey Asset Management, had a 9.42% stake.

Being listed on a stock exchange, publishing financial statements and being regulated by a top-tier authority like the FCA are all great signs for Plus500's reliability.

Find your safe broker

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/sell 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:

• About Plus500  
• Plus500 alternatives
• Plus500 demo account 
• Plus500 API
• Plus500 share price
• Plus500 webtrader
• How to close your Plus500 account
• Can you buy stocks on Plus500? Yes, and here's how