Plus500 Review 2024

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Written By
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Written By
Christian Harris
Christian is a seasoned journalist with decades of experience. He transitioned from tech journalism to finance to follow his interest in investing. He has been trading stocks, futures, forex, and cryptocurrencies for more than 5 years, becoming an eToro Popular Investor. With hands-on expertise across various assets, he offers valuable trading insights.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
Updated

4.1 / 5
Plus500 is #25 in our CFD broker rankings.

Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources.

- Christian Harris, Reviewer
82% of retail CFD accounts lose money.

Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.

$100
WebTrader, App
CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto
-
USD, EUR, GBP, AUD, ZAR, CZK
PayPal, Skrill, Visa, Wire Transfer, Mastercard, Credit Card, Debit Card, Trustly, Apple Pay
Forex Trading

Plus500 provides forex trading through CFDs, featuring narrow spreads across an impressive selection of over 60 currency pairs. During testing, spreads came in as tight as 0.6 pips on the EUR/USD, which is notably lower than many alternatives.

Stock Trading

Plus500 continues to offer an extensive range of shares across UK, US, and European markets via CFDs. The ESG and cannabis sector opportunities are also enticing features not commonly found among other platforms. There also an impressive 30+ indices available with leverage up to 1:20.

CFD Trading

Plus500 presents commission-free CFDs encompassing a vast array of markets, spanning currencies, stocks, indices, and commodities. You can engage in long or short positions on popular assets, benefiting from adaptable leverage without encountering any concealed fees. Due to the prohibition of CFDs in the US, Plus500 doesn’t facilitate CFD trading for US customers. However, the company does provide access to a new platform called TradeSniper, specifically tailored for trading futures, which is accessible to US traders.

Crypto Trading

Investors can trade on rising and falling prices with CFDs on popular cryptos like Bitcoin. Plus500 also stands out for its crypto indices, which offer diversification opportunities by tracking a basket of leading digital currencies. Availability subject to regulation.

Awards

  • Best Overall Broker 2021 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Overall Broker 2019 - DayTrading.com

✓ Pros

  • Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface
  • The broker offers commission-free trading on a diverse range of markets, minimizing additional fees while appealing to established traders
  • Plus500 has recently bolstered its suite of short-term trading products, including introducing VIX options with enhanced volatility
  • You can utilize leverage while engaging in long or short positions, allowing for more strategic trading opportunities
  • The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp

✗ Cons

  • Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
  • Educational resources are limited compared to best-in-class brokers like eToro, impacting the learning curve for beginners
  • The absence of social trading means users can’t follow and replicate the trades of experienced traders
  • Compared to some competitors, especially IG, Plus500’s research and analysis tools are limited
  • Algo trading and scalping are not supported, which may deter some day traders
Go to Plus500
82% of retail CFD accounts lose money.

In this Plus500 review, I evaluate its features, performance, and suitability for various types of traders, providing ratings based on my firsthand experience using the broker with real money.

I also compare Plus500 to suitable alternatives, emphasizing any areas for improvement.

Note: 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Regulation & Trust

3.5 / 5

Plus500 has primarily demonstrated that it’s a legitimate, trustworthy broker regulated by several reputable financial bodies.

That said, we’ve recently lowered its trust score following a class action levelled at the Australian entity, which alleges the firm was misleading in its marketing of highly leveraged CFDs.

The brand has also faced concerning lawsuits in other regions, notably Israel after it abruptly paused traders’ accounts following the Brexit referendum, potentially hurting trading portfolios.

On a more positive note, Plus500 Ltd is listed on the London Stock Exchange, which adds to its credibility and is a promising sign that the company is financially stable.

The brokerage is authorized through several subsidiaries:

Other reassuring features are segregated client accounts and negative balance protection.

In addition, retail traders in some jurisdictions will be protected by compensation schemes in the case of business insolvency. Investor protection is up to £85k for UK clients, €20k for EU clients, and $0 for other clients.

Accounts & Banking

4.1 / 5

Unlike many competitors, Plus500 offers one live account. You can access all investment products, platforms and tools with a minimum trade size of 0.01 lots and a low starting deposit of $100, making the broker accessible to everyone.

The choice of account currencies is a bonus, including USD, EUR, GBP, and AUD, allowing you to deposit, trade and withdraw in a convenient currency.

A swap-free account is also available at some of the broker’s entities, making Plus500 good for Islamic traders, while high-volume traders can open a professional account if they satisfy two of the criteria below:

The pro account offers higher leverage, the best order execution and cash rebates. It is also one of the few professional trading accounts I have seen to offer negative balance protection.

Deposits & Withdrawals

Plus500 scores well when it comes to deposits and withdrawals. The broker accepts multiple fee-free and secure payment options, including wire transfers, credit/debit cards, and e-wallets like PayPal and Skrill.

I find that e-wallets offer the fastest processing times, with funds normally available immediately. In contrast, wire transfers can take up to 5 working days, so avoid this if you want to get started quickly.

Looking at the negatives, withdrawal times at Plus500 are slower than some alternatives. PayPal and Skrill can take between 3 and 7 working days, respectively.

On a lighter note, there is no withdrawal limit.

You can compare Plus500’s entry requirements with alternatives below.

Comparison of similar brokers 2024
Plus500 IG Interactive Brokers
Minimum Deposit $100 $0 $0
Minimum Trade 0.01 Lots 0.01 Lots $100
Payment Methods Apple Pay, Credit Card, Debit Card, Mastercard, PayPal, Skrill, Trustly, Visa, Wire Transfer Credit Card, Debit Card, Mastercard, PayPal, Visa, Wire Transfer ACH Transfer, Automated Customer Account Transfer Service, Cheque, Debit Card, TransferWise, Wire Transfer

Demo Account

Plus500 offers a free demo account. What’s great is that there are no time restrictions, so you can continue using it even after you register for a live account.

💡

Tip: Starting in the demo mode is sensible to get familiar with the in-house platform and its features before trading with real money.

The process to sign up for a Plus500 demo account is reduced compared to a full account. There is no lengthy registration process and you can reset your account balance at any time. In the client portal, simply use the ‘Real Money’ and ‘Demo Mode’ toggles at the bottom of the menu on the left.

Switching to demo mode at Plus500

Assets & Markets

3.5 / 5

Plus500 specializes in CFDs, encompassing stocks, indices, forex, commodities, and more. Notably, the stock diversity stands out, offering exposure to significant economies and industries. For forex traders, the platform offers dozens of popular currency pairs.

Plus500 distinguishes itself with call and put options, as well as futures (via the Plus500Futures platform), providing an alternative means to speculate on popular financial markets. These options offer leverage and diverse expiry dates, enhancing trading flexibility.

Trading products include:

Note that the availability of trading instruments might vary based on your location. For example, CFD trading isn’t available in the US.

You can compare Plus500’s investment offering with alternatives below.

Comparison of similar brokers 2024
Plus500 IG Interactive Brokers
Instruments CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies

Leverage

Leverage trading is available at Plus500 in line with local regulatory restrictions. For example, UK and EU investors can trade forex with 1:30 leverage and stocks with 1:5 leverage.

Investors who qualify for a professional account can access leverage up to 1:300. Taking professional status does mean however, that those traders are no longer covered by the ICF and they waive other regulatory protections.

I recommend that all traders approach leveraged trading (including options) with caution – it can amplify both profits and losses.

Make the most of stop-loss orders to protect your capital.

author image
Christian Harris
Author

Fees & Costs

4 / 5

Plus500 has reasonable trading fees but trails the cheapest brokers like CMC Markets.

The broker offers commission-free trading with floating spreads that vary depending on market conditions.

During my hands-on tests of the platform, I got 0.6 on the EUR/USD, 0.70 on the S&P 500, 1.20 on the UK 100, and 0.36 on gold.

I also appreciate that Plus500 does not charge for deposits and withdrawals.

The only other significant costs to consider are swap fees for overnight positions and conversion charges up to 0.7% if you trade in a currency other than your base currency.

Casual traders should also be aware that there is a $10 inactivity fee after three months of zero trading. This is fairly common at established brokers, so this isn’t a significant drawback.

Platforms & Tools

3.1 / 5

Plus500’s flagship web terminal scores fairly well in terms of its suitability for day trading, especially its clear design and charting functionality.

With that said, it doesn’t particularly stand out against alternatives when it comes to additional trading features.

You can see how it performs overall in key areas below.

Plus500 web terminal day trading scores

Looking at the positives, I find trading with Plus500 intuitive thanks to its user-friendly platform accessible via a web browser or mobile device.

The platform’s simplicity shines through its uncluttered order screen, allowing for the swift opening of new positions in just a few clicks.

Moreover, Plus500’s platform offers an array of analysis features that will cater to technical traders and day traders, including a variety of chart types, timeframes, drawing tools, and over 100 technical indicators such as Bollinger Bands, Moving Average, and RSI.

The inclusion of email and SMS alerts, which notify you about price changes and market sentiment even when offline, adds practicality to the trading experience.

Yet while there are essential real-time data like balances, transaction history, and profit/loss breakdowns, I find it frustrating that Plus500 lacks advanced tools for comprehensive analysis of trading activity.

There’s no built-in trading journal or tax accounting tools within the platform, either.

author image
Christian Harris
Author

Certain markets on Plus500 offer guaranteed stops, but they involve a wider spread and cannot be applied to trades that have already been opened.

Overall, the web platform does its job and is particularly appealing to those traders looking for a no-fuss approach to online trading.

Screenshot of Plus500 web trading platform

Weighing the negatives, Plus500 does not support widely used platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), or cTrader. Those specifically seeking third-party analytical and automation tools in their trading process will be disappointed as none of these tools can be integrated directly. Plus500 does, however, offer Multiple Charts View, which allows you to display up to 9 different charts at a time.

Additionally, Plus500 falls behind its competitors, such as CMC Markets, in terms of automated trading capabilities, lacking support for constructing, testing and deploying algorithmic trading strategies.

It also does not facilitate managing third-party funds through PAMM or MAM trading platforms, nor does it offer copy trading. These features are increasingly popular with aspiring traders and available at alternatives like Vantage.

You can compare Plus500’s platform offering with alternatives below.

Comparison of similar brokers 2024
Plus500 IG Interactive Brokers
MetaTrader 4 No Yes No
MetaTrader 5 No No No
cTrader No No No
TradingView No No No
Auto Trading No Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime Capitalise.ai & TWS API

Mobile App

The Plus500 app offers almost the same functionality as the desktop solution. You can trade the full suite of instruments, view charts, and manage your account on mobile and tablet devices.

I didn’t encounter any issues during my Plus500 review and enjoyed the modern design and mobile trading experience.

The app is available for download to iOS and Android devices from the Apple App Store or Google Play.

Research

2 / 5

Plus500 lacks extensive research resources, analysis, and commentary. It offers limited in-house research, but does provide economic and earnings calendars as well as a news and market insights section.

The platform includes customizable charts for technical analysis and indicators like ‘Traders’ Sentiment’ and ‘Live Statistics,’ revealing the percentage of buyers and sellers along with performance across different time frames for various instruments.

Plus500 Market Sentiment

Other platforms, in particular eToro, offer far superior research tools including analyst recommendations.

Education

3 / 5

Plus500 performs commendably in its educational offerings, particularly catering to beginners with helpful resources such as e-books, video tutorials, and trading articles.

The video content stands out as a particularly effective resource, offering visual aids that facilitate quicker comprehension compared to written materials.

However, in comparison to some of our highest-rated brokers like AvaTrade, the breadth and depth of educational resources provided by Plus500 are lacking, especially considering the lack of risk management resources and market news.

Plus500 Academy

Customer Support

4 / 5

Plus500 tries to ensure accessible customer support around the clock through live chat, WhatsApp, and email services.

While the absence of a telephone contact number might pose frustration for some traders, the chat support stands out positively, offering excellent assistance based on my experience – responses were consistently received within a couple of minutes during my tests, and agents were notably helpful and professional.

Additionally, the broker provides an extensive FAQ portal covering various topics such as trading software usage, user manuals, withdrawal policies, and account closure/deletion.

Plus500 also maintains an active presence across social media platforms, including Facebook, Twitter, and LinkedIn.

Plus500 customer support available in trading platform

Should You Trade With Plus500?

Following our assessment using a real money account, Plus500 is a well-regulated broker with transparent fees and is worth considering if you are looking to trade CFDs across various markets, including stocks, indices, forex, and commodities. There’s limited options trading, too.

The platform’s user-friendly interface is suitable for traders of all levels, but its lack of support for copy trading and the absence of extensive research tools are disappointing compared to other platforms such as eToro or IG.

FAQ

Is Plus500 Legit Or A Scam?

Plus500 is a legitimate brokerage platform regulated by multiple reputable authorities. It’s publicly listed on the London Stock Exchange, adding a layer of transparency and accountability.

However, as with any trading platform, it’s crucial to do your own research, understand the risks involved, and trade responsibly.

Can I Trust Plus500?

Plus500 is regulated by multiple prominent financial authorities, ensuring compliance with strict standards and regulations. As a publicly listed company, it also upholds transparency and accountability. Additionally, client funds are segregated from the company’s operational funds, providing an extra layer of security.

While Plus500 has established regulatory compliance and security measures, it’s prudent to perform due diligence, review its terms and conditions, and trade cautiously with any platform to mitigate risks.

Is Plus500 A Regulated Broker?

Plus500 is regulated in various countries through different regulatory bodies. Some of the key regulatory authorities overseeing Plus500 include the Financial Conduct Authority (FCA) in the United Kingdon, the Australian Securities and Investments Commission (ASIC) in Australia, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Markets Authority (FMA) in New Zealand, the Monetary Authority of Singapore (MAS) in Singapore, and the Israel Securities Authority (ISA) in Israel.

Regulatory compliance ensures that Plus500 operates under the guidelines set by these authorities, offering a degree of protection and reassurance for traders in these regions.

Is Plus500 Suitable For Beginners?

Plus500’s user-friendly interface and straightforward platform is suitable for all traders.

Its intuitive design and  clear navigation features make it accessible, and there are sufficient risk warnings and educational content about using leveraged products like CFDs.

If you’re new to trading, start with a demo account to practice, and consider seeking additional educational resources before venturing into live trading with real money.

Does Plus500 Offer Low Fees?

Plus500 typically offers relatively tight spreads on various financial instruments, and it does not charge commissions on trades, which can potentially reduce overall trading costs.

However, other fees, such as overnight funding fees for holding positions overnight, inactivity fees, and currency conversion fees, may apply. Review and understand the fee schedule before trading.

Is Plus500 A Good Broker For Day Trading?

Plus500 can be suitable for day trading due to its user-friendly platform and the availability of a wide range of CFDs across multiple markets.

However, the lack of advanced charting tools and order types, and no support for automated trading, may limit its appeal to more experienced traders needing a more extensive platform such as IG, which is tailored specifically for day trading.

Does Plus500 Have A Mobile App?

Plus500 offers a mobile app available for both iOS and Android devices. The mobile app enables you to trade various financial instruments on the go, providing access to the same features and functionalities as the web platform.

You can monitor markets, execute trades, manage positions, and access account information, making it convenient if you prefer trading from your smartphone or tablet.

Is Plus500 A Market Maker?

Plus500 is a market maker, acting as the counterparty to positions opened by its users. As a result, commissions are included in spreads and execution is usually reliable.

Top 3 Alternatives to Plus500

Compare Plus500 with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of day trading markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com

Plus500 Comparison Table

Compare Plus500 With Similar Brokers
Plus500 IG Interactive Brokers Forex.com
Rating 4.1 4.4 4.3 4.5
Markets CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, Spot Metals
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $0 $100
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Regulators FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB NFA, CFTC
Bonus Active Trader Program With A 15% Reduction In Costs
Education Yes Yes Yes Yes
Platforms WebTrader, App Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:30 1:30 (Retail), 1:250 (Pro) 1:50 1:50
Payment Methods 9 6 6 8
Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
Forex.com
Review

Compare Trading Instruments

Compare the markets and instruments offered by Plus500 and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Plus500 Trading Instruments
Plus500 IG Interactive Brokers Forex.com
CFD Yes Yes Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper Yes Yes No No
Silver Yes Yes No Yes
Corn Yes No No No
Crypto Yes Yes Yes No
Futures Yes Yes Yes No
Options Yes Yes Yes Yes
ETFs Yes Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index Yes Yes No No

Plus500 vs Other Brokers

Compare Plus500 with any other broker by selecting the other broker below.

 

The most popular Plus500 comparisons:

  1. Plus500 vs eToro
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  4. Plus500 vs CMC Markets
  5. Plus500 vs Capital.com
  6. Plus500 vs Pepperstone

Customer Reviews

  3 / 5

This average customer rating is based on 1 Plus500 customer reviews submitted by our visitors.

If you have traded with Plus500 we would really like to know about your experience - please submit your own review. Thank you.

  3

I’ve been trading CFDs at Plus500 and have had a mostly good experience. I enjoy the look and feel of the platform while the live analysis from +Insights is excellent. On the downside, I think it’s a shame that scalping isn’t accepted and withdrawals can take the best part of a week.

✍ Jack Dawn | 🌐 United Kingdom | November 17, 2023

Submit Your Own Review of Plus500

If you have experience trading with Plus500 please share your personal review of the broker and what you think are strong and weak points. Thank you.

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Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.
82% of retail CFD accounts lose money.

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