Plus500 vs CloseOption

Plus500 vs CloseOption Comparison Table 2023
Plus500 CloseOption
4.1
3.8

CloseOption is #6 in our binary options broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US accepted

Plus500 is a leading brokerage, listed on the London Stock Exchange with 25+ million registered traders. The firm specializes in CFD trading on its intuitive, in-house platform and mobile app. Spreads are low and there are no deposit or withdrawal fees. Plus500 also has a high trust score with licenses from reputable regulators, including the FCA, ASIC and CySEC.

CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.

82% of retail CFD accounts lose money.
Bonus Offer
$10 Welcome Gift
Promotions

CloseOption Runs Weekly Trading Contest With $3K Prize Pot

Comment by Reviewer
"Plus500 offers one of the best trading platforms for beginners. With a modern design and dynamic charting, we found it great for trading CFDs on popular financial markets. The $100 minimum deposit and unlimited demo account also make Plus500 accessible for aspiring investors." "CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
Pros
  • Zero commissions and tight spreads on over 2,000 instruments across forex, shares, indices, commodities, cryptos and ETFs
  • Premium service for professional traders with fee rebates, external webinars, expert analysis and a dedicated client manager
  • ESG investing opportunities through a range of equities and indices, including the Global Warming Reduction Index
  • Unique +Insights feature offering real-time trading analysis to uncover trends and market sentiment
  • We enjoy using the web platform with its smooth user experience and feature-rich trading tools
  • Excellent reputation with 25+ million clients worldwide and licensed in multiple jurisdictions
  • Reliable 24/7 customer support via email, telephone, live chat and WhatsApp
  • Excellent risk management tools including guaranteed stop loss orders
  • New traders can get started with a $5 minimum deposit
  • CloseOption offers weekly trading tournaments with cash prizes
  • The user-friendly platform is compatible with most web browsers
  • Multiple global payment methods are available
  • Free demo account
Cons
  • No access to the MetaTrader 4 or MetaTrader 5 platforms
  • Average withdrawal speeds that can take up to 7 days
  • No social trading functions for hands-off investors
  • $10 monthly inactivity fee after 3 months
  • Algo trading is not supported
  • Scalping is not permitted
  • Clients need to deposit $50,000+ to qualify for the best payouts
  • CloseOption is not regulated by a well-regarded trading authority
  • Binary options are only available on fiat and digital currencies
Awards
  • Best Overall Broker 2021 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Overall Broker 2019 - DayTrading.com
Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto Binary Options on Forex & Cryptos
Demo Account
Yes Yes
Minimum Deposit
$100 $5
Trading Platforms
  • WebTrader
  • App
  • Own
Payment Methods
Minimum Trade
0.01 Lots $1
Regulator
FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA National Bank of Georgia
Margin Trading
Yes No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
No No
Mobile Apps
iOS, Android & Windows
Auto Trading
No
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
Yes No
Inactivity Fee
$10 0.5%
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • ZAR
  • CZK
  • USD
Stock Exchanges
Commodities
CFD Trading
Plus500 offers commission-free CFDs on a huge range of markets, including currencies, stocks, indices and commodities. Traders can go long or short on popular assets with flexible leverage and no hidden charges. The WebTrader platform has been specifically designed for trading CFDs. CFD trading not offered
Leverage
1:30
FTSE Spread
1.8
GBPUSD Spread
1.1
Oil Spread
0.04
Stocks Spread
0.08
Forex Trading
Plus500 offers forex trading via CFDs with tight, floating spreads and an excellent suite of 60+ currency pairs. We got spreads of 0.6 pips on the EUR/USD during testing - lower than many alternatives. CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD.
Forex App

Plus500 have developed their mobile apps to match the WebTrader online platform . Secure and reliable, the app is among the best out there. Stop loss and limits are available, free alerts and a full range of markets and instruments are available. Visit the download page here.

GBPUSD Spread
1.1 No fee - payouts approx. 80% (Copper)
EURUSD Spread
0.6 No fee - payouts approx. 80% (Copper)
EURGBP Spread
1.4 No fee - payouts approx. 80% (Copper)
Assets
60+ 20+
Cryptocurrency
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. CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals.
Spread
Variable No fee - payouts approx. 40% (Copper)
Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • IOTA
  • NEO
  • EOS
  • XMR
  • BTC
  • BCH
  • ETH
  • LTC
  • XBT
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Binary options trading not offered CloseOption offers binary options trading on 30+ fiat and digital currencies through an easy-to-use web-based platform. 15 contract timeframes are available from 30 seconds to 1 month, suiting both short-term and long-term traders. New users also get a joining gift.
Payout
95%
Expiry Times
30 seconds - 1 month
Ladder Options
No No
Boundary Options
No No
82% of retail CFD accounts lose money.
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