Plus500 is a publicly-listed financial services broker with a presence across several European, Asia, and African countries. They provide real stocks as well as several CFD assets.
This Plus500 review provides an in-depth look into the broker’s features and services. It covers their fees, accounts, spreads, apps, and payment methods. It also covers all the necessary information regarding stock trading with this broker and lists all the stock exchanges they offer.
- Availability of Cryptocurrency
- Highly Regulated
- Offers Real Stocks
- Proprietary Technology-Based Trading Platform
- Zero Commissions
- Straightforward Account Opening Process
- Relatively Low Spreads
- Inadequate Educational Materials
- MetaTrader not Available
- No Phone Call Option for Customer Support
Plus 500 offers 2,800+ tradable assets, which include 60+ forex pairs, 30+ indices, 20+ commodities, 18+ cryptocurrencies, 90+ ETFs, 1,000+ options and 1,500+ shares. Our review explores each of these assets in more detail below.
This broker provides 1,500+ stocks from the US, Europe, Asia, and Africa. Some of the available shares on their platform include TSLA, AMZN, META, and RIVN. Furthermore, their stock offering includes both real and CFD shares. The maximum leverage for trading share CFDs with this broker is 1:20.
Clients who trade with this broker can select from a list of 30+ indices spread across countries and sectors. In addition, traders will enjoy margin trading as they allow leverage of up to 1:150 on Indices. Examples of indices you can speculate on with this broker are BUREGI, BIQLUI, FNG, and BISRUI.
Plus500’s 60+ forex pairs available for trading comprises major, minor, and exotic pairs. Traders can speculate on the prices of assets such as EUR/USD, EUR/NZD, and GBP/CAD while enjoying leverage up to 1:588.
There are 20+ commodities offered by this broker such as Brent Oil, Gold, Palladium, and Natural Gas. These commodities are available at a maximum leverage of 1:150.
This broker is one of the few trading companies that offer cryptocurrencies on its platform. Non-UK traders who use Plus500 will have access to 18+ cryptocurrencies, including Bitcoin, Litecoin, and Ethereum with leverage up to 1:5.
There are 90+ ETFs available to be traded on this broker. Some examples are USO-Oil Fund, iShares Silver, GLD Gold, and NUGT. The maximum leverage on ETFs is 1:100.
Plus500 offers 1,000+ CFD Call and Put Options. With maximum leverage set at 1:5, clients can select from a long list of options which includes Cal 76, Put 140, and Put 1810.
US clients will be able to trade futures with the broker. Some popular futures listed by this broker include S&P 500, NASDAQ100, Bitcoin, Oil, and Gold.
Stock Trading at Plus500
Plus500 stocks offering include CFDs and real shares. Clients of this broker can purchase shares in popular companies across the US, UK, Europe, Africa, and Asia. Here in our broker review, we examine their stock trading requirements. We list all the available stock exchanges they provide and explain the fees and leverage for shares trading on their platforms.
Available Stock Exchanges at Plus500
This broker’s long list of stocks includes instruments from numerous exchanges in the United States, United Kingdom, and many parts of Europe such as Denmark, Portugal, Sweden, Finland, and Poland. All the stock exchanges available are listed below:
|United States of America
||New York Stock Exchange
||London Stock Exchange
||Swedish Stock Exchange
|Frankfurt Stock Exchange
|Milan Stock Exchange
|Paris Stock Exchange
|Madrid Stock Exchange
|NASDAQ OMX Helsinki
|NASDAQ OMX Copenhagen
|Vienna Stock Exchange
|Oslo Stock Exchange
|Budapest Stock Exchange
|Warsaw Stock Exchange
|Oslo Stock Exchange
|SIX Swiss Stock Exchange
||Johannesburg Stock Exchange
||Singapore Exchange Limited
||Tokyo Stock Exchange
||Hong Kong Stock Exchange
Stock Trading Fees & Commission at Plus500
The exact stock trading fee depends on the specific exchange that a client uses. Purchases made via exchanges in the US attract a commission of 0.006 USD per share. Stocks from exchanges in the UK, Sweden, Germany, Italy, France, Finland, and Denmark cost 0.045% of the total trade volume. Ireland, Portugal, Austria, and Netherlands stocks have a commission of 0.075% of the trade volume. Finally, customers who use exchanges in Spain, Norway, and Australia will be charged 0.06%, 0.055%, and 0.0525% respectively of their total trade volume.
Stock Trading Leverage at Plus500
This broker provides margin trading on its stock CFDs. The amount of leverage available to traders is based on their country of residence. Clients living in the United Kingdom and Europe will be given access to leverage up to 1:5. However, global customers will enjoy much higher maximum leverage up to 1:20.
Plus500 is highly authorised by regulatory authorities in various countries. Some of these bodies include the UK Financial Conduct Authority, Cyprus Securities and Exchange Commission (CySEC), Australia Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Seychelles Financial Services Authority (FSA), Estonian Financial Supervision and Regulatory Authority (EFSRA), Dubai Financial Services Authority (DFSA), and the South African Financial Sector Conduct Authority (FSCA). In this section of our review, we list out all the subsidiaries of this broker, their addresses, and licensing information.
Plus500UK Ltd: Located at 8 Angel Court, Copthall Avenue, London, EC2R7HJ, this entity is authorised and regulated by the FCA.
- FCA Registration Number: 509909
Plus500CY Ltd: This subsidiary of Plus500 is located at 169 – 171 Arch. Makarios III Avenue, Cedars Oasis Tower, Floor I, 3027, Limassol Cyprus, and regulated by CySEC.
- CySEC Licence Number: 250/14
Plus500AU Pty: This entity resides at Australia Square, Sydney NSW1215, Australia, and is regulated by ASIC.
- AFS Licence Number: 417727
Plus500SG Pte Ltd: Located at 1 Temasek Avenue 18-07 Millenia Tower, Singapore, it is regulated by MAS.
- Licence Number: CMS100648-1
- UE Number: 201422211Z
Plus500SEY Ltd: This entity is located at Room 12, 1st floor, Kingsgate House, Victoria, Mahe, Seychelles. It is regulated by the FSA.
Plus500EE AS: Located at Harju maakond, tallinn, kesklinna linnaosa, parnu mnt, 31-58, 10119. This subsidiary of Plus500 is regulated by the EFSRA.
Plus500AE Ltd: Located at Unit Office GV04/L01/109, Level 1, Gate Village Building 04, Dubai International Financial Centre, Dubai. It is regulated by the DFSA.
Fees and Commissions
Plus500 charges spread on its financial assets. Furthermore, despite being a low-cost, commission-free broker, its clients are still expected to pay specific fees for certain services offered on the broker’s platform. This section of the review lists the broker’s fees, including all trading and non-trading costs incurred by users of this broker.
Trading fees on Plus500 include Spreads and Swap Rates. This broker does not charge commissions or include a paid subscription plan. Below, we list the expected trading fees for clients.
Spreads depend on the asset traded and are incorporated as part of the broker’s quoted rate. Traders with this broker can enjoy spreads as low as 0.8 pips on financial assets such as currency pairs.
Plus500 charges a small fee on positions held overnight. This amount deducted varies based on the financial instrument and can be found listed separately on the broker’s page for each of its assets.
Non-Trading fees incurred by clients include currency conversion fees, inactivity fees, and guaranteed stop orders. Here, we also explain all these non-trading charges in greater detail.
Currency Conversion Fee
This broker deducts a currency conversion fee on trades involving a currency that differs from a user’s account base currency. This fee is set at 0.7% of the net profit or loss from the resulting order.
Clients whose accounts remain dormant for three months or more will be required to pay an inactivity fee. With Plus500, the inactivity fee is 10 USD each month until user activity is recorded on that account.
Guaranteed Stop Order
Plus500 charges a wider spread for clients who choose to use its guaranteed stop order feature while trading. This broker does not allow guaranteed stop orders on all its instruments. However, this fee cannot be refunded once activated.
This broker offers a demo account, a Retail account, and a professional account. Here, we review each of these account types and what users can expect when they open a live account under any of them.
Demo accounts enable newbies and experienced traders to get familiar with the broker’s trading platform and perfect their trading strategies without losing any money. Upon opening a demo CFD trading account, clients will have access to a 40,000 EUR virtual balance. However, this demo account is only available on Plus500 CFD. Customers who use the Invest option are not allowed to operate a demo account.
Plus500 offers its Retail Account option to everyone who opts to register a live account and begin speculation on the price of different financial assets. Unlike a demo account, the Retail account must be funded with real money before traders can place their orders on the broker’s trading apps. Customers who operate a Retail Account will enjoy negative account balance protection, cash rebates, real-time disclosure, and margin close-out protection.
Professional accounts are reserved for traders who meet specific criteria outlined by the broker. This account type provides a wide range of benefits and is available to clients in Australia, the United Kingdom, and several parts of Europe. Clients with a Professional Account will enjoy much larger spreads up to 1:300 on some financial assets such as forex pairs and indices.
Traders under the jurisdiction of ASIC who wish to migrate to a Professional account must have assets worth at least 2,500,000 AUD or a gross income history exceeding 250,000 AUD for two consecutive years.
However, those in other locations such as the United Kingdom and Europe will have to meet at least two out of the following criteria.
- Traders must have performed at least 10 sizeable transactions per quarter in a relevant market over a period of four quarters
- A financial investment portfolio (including cash savings and financial investments) exceeding 500,000 EUR
- Relevant experience in the finance sector
Plus500 offers a proprietary web app and a mobile trading app for iOS and Android. However, unlike many of its competitors, this broker does not provide MetaTrader or cTrader as alternative trading platforms. In this section of the Plus500 review, we take a closer look at the features of their web and mobile trading apps. We also provide a step-by-step guide on the account opening and funding process across both trading platforms.
Desktop Trading Platforms
Below, we list out the features of this broker’s web application as well as provide a step-by-step guide for getting started with them via this platform.
The desktop platform provides added security for traders through two-factor authentication (2FA). Users can set up 2FA by clicking on Settings from the dropdown menu and selecting Security Settings.
The economic calendar gives traders detailed information on events that have an impact on the direction of the financial markets. Clients can sort out these events according to past, present, and future happenings and use this information to speculate on the prices of financial assets.
The Market News tool is similar to the economic calendar. This feature collates all the important news and market insights to enable traders to make informed decisions. Users can access this option from the Trading Tools section in the dropdown menu of the web trader.
With this feature, traders can set new alerts for several financial assets and receive notifications on their web trading platform.
How to Open an Account on Plus500 Desktop Trading Platform
- On the Plus500 website, select the Start Trading button located at the top right corner
- After that, you will be directed to the Web platform and asked to create an account by typing in your email and a password
- Click on the dropdown menu and select Get Started to complete your registration
- Enter your name and date of birth
- Fill in your address
- Next, the broker will assess your prior knowledge of trading and financial products by providing you with a brief questionnaire
- Submit information about your employment status and income history
- Answer the questions regarding your trading frequency, preferred deposit method, and main trading purpose
- Read and accept the user terms and conditions
- Deposit funds to your account via any of the listed payment methods
- Once you log into the web application, click on the dropdown menu, select Account, and then Verify Account
- Next, you will be required to upload proof of address and a valid photo ID and verify your phone number and email address. You will also need to fill the Form W-8BEN
- When you click Verify, you will be given access to a tab where you can upload the requested documents and submit them for verification
Plus500 offers a proprietary mobile app for its iOS and Android users. Let’s review some of the key features of this app and list out the required process for opening an account on mobile.
The mobile trading app has a well-designed and intuitive interface. Clients can navigate between various tabs easily or access its vast trading tools though the dropdown menu.
There are over 110 trading indicators on the mobile app for traders to enjoy. Customers of this broker can carry out technical analysis with popular indicators such as Aroon Oscillator, Chaikin Volatility, Ichimoku Chords, or MACD.
The economic calendar provides a quick summary of important events in the financial markets. Traders who engage in sentiment analysis will find this feature helpful in placing their orders on this trading platform.
The alert feature on mobile is extremely useful as it enables users to set notifications when specific events such as fulfilled orders take place.
This application offers clients market insights and up-to-date reports on the latest happenings across various sectors of the economy, which can affect price action across various assets.
How to Open an Account on Plus500 Mobile Trading App
- Visit the Apple App Store (iOS) or Google PlayStore (Android) and search for Plus500 Trading
- Select between Demo and Real account modes
- Create an account by entering your email and password
- Once you are logged in, select Get Started from the dropdown menu to continue the account opening process
- Enter your personal details as they appear on your identification document
- Provide all residential information requested
- Next, you will be required to answer some questions to ascertain if you have any prior trading knowledge, experience, and professional financial experience
- Answer all questions about your employment status
- Provide details of your income history and trading profile
- Accept the stated terms and conditions
- Verify your account by providing a valid ID, proof of address, and confirming your email and phone number
- Make a deposit by selecting from one of the available payment methods displayed
There are multiple options for making deposits and withdrawals at Plus500. This section of the broker’s review will provide you with all the information you need about the available payment methods, minimum deposit amounts, deposit and withdrawal fees, and processing times.
Traders who wish to deposit funds and begin trading can do so via bank transfers, credit cards, debit cards, or e-wallets such as PayPal, Skrill, or GooglePay. However, for credit cards and debit cards, this broker only accepts Mastercard or Visa. Furthermore, there are no deposit fees with this broker.
Plus500 has a minimum deposit amount set at $100. However, individuals funding their accounts via bank transfer will need to deposit up to $500. This broker can also set deposit limits on a user’s account depending on several factors, including the trader’s country of residence and chosen payment method. Also, third-party deposits are not allowed. Clients must use an account bearing their name to make deposits. Below, we list the available deposit methods and their minimum deposit amounts.
|Paypal, Skrill, Google Pay
|Credit Cards and Debit Cards
Plus500 offers similar deposit and withdrawal methods. Wherever possible, this broker only allows withdrawals with the same option that was used for deposits. Although clients may be subject to third-party fees, this broker does not charge for withdrawals. However, this rule applies to the first five withdrawals each month. Subsequent withdrawals will attract a fee of $10.
The minimum withdrawal amount with this broker differs depending on the method used. E-wallets like PayPal and Skrill have a fixed minimum withdrawal amount of $50, while bank transfers and credit cards are set at $100. Should a trader wish to withdraw less than these stated amounts they will be required to pay a fee of $10.
Processing times for ewallet withdrawals are usually between 3 – 5 business days, while bank transfers take about 5 – 7 business days. Traders who use Mastercard or Visa may experience varying wait times depending on their individual bank.
Account Base Currency
The broker allows clients to open an account with many currencies. Unfortunately, this broker does not list all the account base currencies it accepts on its website as this depends on a client’s country of residence. However, our review can confirm that they do offer major currencies such as USD, EUR, GBP, JPY, and AUD.
Research and Education
This broker’s educational materials include videos and an e-book. The video learning section covers a variety of topics, including How to Trade CryptoCurrencies, Types of Trading Charts, Understanding Risk-Reward Ratio, and Popular Trading Strategies. Furthermore, their ebook deals with everything traders need to know about the broker’s services ranging from platform features to available instruments. It also contains a section with a list of essential trading terminologies. In addition to these materials, they also provide a detailed article on risk management and a robust FAQ section where beginners and experienced traders can learn more about the available features and benefits of the Plus500 platform.
Our careful review of the customer service options provided by this broker shows that they offer a 24/7 live chat option and an email option on their website. Customers can also find answers to their problems by visiting the help centre, where solutions to frequently asked questions have been provided. Unfortunately, there is no phone number for traders to call and speak directly to a customer support staff.
In addition to their email and live chat options, customers can also contact the broker by reaching out to them on their various social media platforms. Plus500 has an online presence on Facebook, Linkedin, Instagram and Twitter.
As part of our Plus500 review, we’ve considered users’ opinions of this broker across various popular social communities and broker feedback websites. Here, we provide you with detailed information about what users are saying about them on Reddit, Quora, TrustPilot, and ForexPeaceArmy.
What Reddit Users Say About Plus500
There are only a few comments on Reddit about Plus500. One user drew attention to this broker’s FCA regulation, giving credence to the fact that it is a reliable option. However, another user voiced their distrust for them, citing that the broker’s prices are not an accurate reflection of the market.
What Quora Users Say About Plus500
Comments about Plus500 on Quora are predominantly negative. Although there were mentions of its multiple regulations across several countries, several users have complained about withdrawal challenges with this broker.
Also, some comments referenced that there were discrepancies between the claims stated in various online advertisements of this broker and its actual performance. Finally, a number of people claimed to have had issues with manipulated spreads.
TrustPilot Users’ Review About Plus500
On TrustPilot, Plus500 enjoys a rating of 4.1 from 11,433 reviews. This website is filled with positive comments especially regarding the broker’s easy-to-use trading platform. Furthermore, many people praised its fantastic user interface, wide list of trading features, and responsive customer service.
Unfortunately, there were also some negative responses. Some comments mentioned that their accounts were closed without a proper explanation provided while others claimed that their positions were forcefully closed as a result of issues with misrepresented spreads.
ForexPeaceArmy Users’ Review About Plus500
Plus500 has been rated by 173 people on ForexPeaceArmy with an overall rating of 1.573. Most of these reviews have been poor and many users have claimed that this broker is deliberately manipulating quotes. One comment mentioned that their stated stock prices differ from the actual market prices. Another person claimed that he was not allowed to close his trades when he wanted. Fund withdrawal complaints were also frequently mentioned on this broker’s page on ForexPeaceArmy.
Other Products and Services
Along with its trading services, this broker also offers additional options to its customers. Here in our Plus500 review, we examine some of these services and outline the benefits they offer to users.
The Plus500 Affiliates program is designed for individuals who have some measure of online traffic and would like to earn a commission by partnering with the broker. The affiliates program operates a referral structure where clients get paid a percentage for every person they get to open a live account and begin trading on Plus500. To enable its affiliates to make a maximum impact, Plus500 provides a variety of high-conversion tools. The firm also offers each person an affiliate manager to guide them through the entire process.
Is Plus500 Safe?
Plus500 safety protocols indicate that it can be regarded as a trustworthy broker. It operates segregated bank accounts, separating company funds from client funds to ensure that customers are not at any risk of losses. The firm has a strict policy of not investing retail clients’ funds or engaging in hedging with its user’s monies. In addition to these measures, for traders under the jurisdiction of CySEC, this broker participates in the Investor Compensation Fund, which guarantees user deposits up to 20,000 EUR. Similarly, users resident in the UK can benefit from the Financial Services Compensation Scheme (FSCS), which provides insurance of up to 85,000 GBP in the event that something happens to a trader’s funds. Finally, it is well-regulated across various countries, including the United Kingdom, Australia, Singapore, Seychelles, South Africa, and Estonia. Some of the financial and investment regulatory bodies that have authorised this broker are ASIC, CySEC, MAS, FSA, EFSRA, DFSA, and FSCA.
Our Plus500 review highlights several of its outstanding features, mainly its tier-1 regulations, availability of cryptocurrencies and real stocks, and straightforward account opening process. However, we also pointed out this broker’s limited number of educational resources and its incompatibility with common trading platforms such as MT4 and MT5.
They have many assets for trading, including forex pairs, indices, commodities, cryptocurrencies, ETFs, options, futures (US only) and shares. For individuals looking to trade real stocks, you can access thousands of shares from exchanges in 24 different countries, including the United States, Australia, France, Germany, Sweden, and Italy. Trading with each of these exchanges attracts a commission that varies between 0.045% and 0.075% of your total trading volume, depending on the specific exchange you use. Plus500 permits margin trading on its CFD stocks and traders resident in the UK and Europe will enjoy leverage from 1:5 while global customers will have access to leverage up to 1:20.
The broker carries a stamp of approval from a long list of regulatory bodies, including the FCA, ASIC, MAS, CySEC, FSA, EFSRA, and DFSA. In addition, it is a commission-free financial services company, hence, users will only pay fees for spreads, swaps, currency conversion, or inactivity. Funding and withdrawals are possible through credit cards, debit cards (Mastercard or Visa), e-wallets such as PayPal and Skrill, or bank transfers. However, the exact method available to a trader depends on their country of residence. Finally, this broker supports AUD, USD, EUR, GBP, and JPY among its numerous account base currency options. It also provides customer support via a live chat feature and an email form on the website.
Q & A
Yes, they are legit. They are regulated by the FCA, ASIC, MAS, CySEC, FSA, EFSRA, and DFSA.
This broker’s shares started trading at 1,760 GBX.
To log into your account, click Login from the broker’s website and enter your email and password.
It contains information on the broker’s available assets, stock trading features, regulations, fees, account types, trading platforms, customer services, and research and educational resources.
Plus500 is a commission-free broker and they offer relatively low fees compared to many of their competitors.
They are well-regulated by the FCA, ASIC, MAS, CySEC, FSA, EFSRA, and DFSA.
To start trading stocks you will need to register a Retail or Professional Account.
No, Demo Accounts do not have an expiry date.
This broker’s UK’s offerings differ from other regions due to specific FCA regulatory principles.
The minimum deposit amount is $100. However, clients who deposit funds via bank transfers have a minimum deposit of $500.
Yes, you can trade stocks on the Plus500 app on desktop and mobile.
To invest in shares, you will need to open a Retail or Professional Account, select Plus500 Invest in the web or mobile application, and choose your preferred financial instrument.
The maximum leverage to trade shares is 1:20 for global clients. However, traders resident in the UK and Europe will only be able to use maximum leverage of 1:5.
Yes, they offer cryptocurrencies as part of their financial assets.
To delete your account, you would need to visit the ‘Contact Us’ section on the broker’s website. Once there, provide your name and email address and type and send a message indicating that you intend to close your account.
No, they do not charge any commissions on stocks.
Plus500 is not a scam. It is a trustworthy broker regulated across more than 5 regions.
Yes, you can. Also, if you have an open buy position on a CFD stock during the ex-dividend date, a positive adjustment will be made to your account with respect to the dividend paid on that particular share.
The highest leverage is 1:588 and this is available to clients who participate in the Forex markets.