Plus500 offers low spreads from 1.9 pips and has over 400 reviews exceeding 67% approval based on customer support. Plus500 is a leading CFD provider with a wide range of Financial instruments for trade and includes negative balance protection.
Plus500 is an excellent choice for forex traders due to its fixed spreads, low fees, and negative balance protection. The platform is also user-friendly. Plus500 is still offering a wide range of trading products as of May 2024.
*Your capital is at risk ‘82% of retail CFD accounts lose money’
Plus500 is a global fintech company that offers online trading in CFDs, share dealing, futures trading and options on futures. The company has subsidiaries in the United Kingdom, Cyprus, Australia, Israel, Seychelles, Singapore, Bulgaria, Estonia, the United States, and Japan. It is a component of the FTSE 250 Index and is listed on the London Stock Exchange.
Plus500 has been using its own internally developed technologies since it opened its doors. The company offers a variety of technologies including a trading platform available on multiple operating systems, risk management tools, customer onboarding, affiliates, back-office systems, and marketing.
Plus500 offers four types of accounts: the CFD Account, Professional Account, Invest Account, and Futures Account. The Plus500 CFD Account is the default and is available to all clients worldwide.
Plus500 offers two types of spreads: fixed and dynamic. The average EUR/USD spread is 0.8 pips on GBP/USD and 1.3 pips on GBP/USD, respectively. Plus500 does not charge any commissions on any of their trades. The no-commission spreads are only available with the ECN style account for more experienced/high-volume traders.
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Standard Account Spreads
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1.70 | 1.40 | 1.70 | 2.30 | 1.90 |
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0.80 | 1.00 | 1.00 | 1.60 | 1.00 |
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1.10 | 1.10 | 1.10 | 1.30 | 1.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 05/01/2025
Other Trading Costs
Two additional fees traders may incur is an overnight holding fee and a $10 USD inactivity fee if your account remains unused for three months.
To find out more, you can read our in-depth review of Plus500 fees.
Verdict on Plus500 Spreads
Plus500’s spreads suit beginners with its simple pricing structure with no commission.
Plus500 has a trust score of 78 out of 100, making it a safe broker to trade with.
Regulation
Plus500 is regulated by five ‘tier-1’ financial authorities, which include the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC), the Monetary Authority of Singapore (MAS), and New Zealand’s Financial Markets Authority (FMA).
| Plus500 Safety | Regulators |
|---|---|
| Tier-1 | FCA (UK) CYSEC (Cyprus) ASIC (Australia) MAS (Singapore) FMA (New Zealand) |
| Tier-2 | DFSA (Dubai) EFSRA (Estonia) |
| Tier-3 | FSA-S (Seychelles) FSCA (South Africa) |
Reputation
Plus500 was established in Haifa, Israel, in 2008, which means they have almost two decades’ worth of visibility in the industry.
The broker is quite popular with traders, with over 246,000 searches per month.
Reviews
Plus500’s TrustPilot score is 4.0 out of 5.0 from 12,099 reviews. This further strengthens the broker’s reliability and confidence score.
Verdict on Plus500’s Trustworthiness
Plus500 has shown a high level of trust, which garnered its top scores all over.
Plus500 offers a range of 2,800+ financial products to trade as CFDs including forex, shares, commodities, and options.
Forex: Plus500 offers CFD trading on 71 different forex pairs ranging from major currency pairs to more exotic currencies.
Shares:The platform offers more than 1,100 stock CFDs, allowing traders to speculate on global stock movements.
Indices: Plus500’s offering includes 30 indices, featuring popular ones like the USA 500 and US-TECH 100.
Cryptocurrencies: 15 crypto CFDs are available, including major names like Bitcoin, Ethereum, and Litecoin.
Note: Cryptocurrency trading is prohibited in the UK by the Financial Conduct Authority (FCA).
Commodities: A variety of commodities, from gold and oil to agricultural products, are available for CFD trading.
ETFs (Exchange Traded Funds): Traders can choose from 98 ETFs, including the NASDAQ-100 Index, S&P 500, and Gold, traded as CFDs.
Options: Options CFDs are offered at various strike prices, providing additional trading flexibility.
Verdict on Plus500 Trading Products
Plus500 offers an extensive selection of CFD trading products, including forex, shares, indices, cryptocurrencies, commodities, ETFs, and options, catering to a broad range of trading interests and strategies.
Plus500 provides a proprietary trading platform available as a desktop application, WebTrader, and mobile apps.
The platform is designed with simplicity in mind, making it particularly accessible for beginner traders with a straightforward interface.
While the platform is user-friendly, it may not meet the needs of expert traders accustomed to more sophisticated trading tools available on platforms like MetaTrader 4, MetaTrader 5, or cTrader.
Trading Tools on Plus500 Platform
The Plus500 mobile app, available for mobiles and tablets on both Android and iOS (iPhone and iPad), replicates the WebTrader platform’s functionality, ensuring a smooth transition across devices. It encompasses features such as real-time alerts, live quotes, charts, and a demo account for practice trading.
Although the app is solid in its fundamental offerings, it falls short in some advanced features and functionalities like automated trading.
In our best forex trading platform Australia analysis, the Plus500 trading platform won the award for the most user-friendly forex platform and interface. To determine this, we tested the CFD provider’s live account and compared its features to other brokers trading platform offerings.
It’s important to note that Plus500 is not suitable for scalping strategies, as accounts employing rapid trade executions within a two-minute window may be subject to closure.
Verdict on Plus500 Trading Platforms
Overall, the Plus500 offers a good trading platform for beginners, providing an uncomplicated, user-friendly entry point.
Open a demo accountVisit Plus500
*Your capital is at risk ‘72% of retail CFD accounts lose money’
Plus500 offer multiple fee-free options to deposit and withdraw funds.
To open a trading position with Plus500, a minimum deposit of $100 or equivalent in your currency is required.
The base currencies available at Plus500 include EUR, USD, JPY, GBP, AUD, CAD, and JPY.
Plus500 charges no deposit fees with the following funding methods available:
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Paypal | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Bank Wire | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Skrill | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
Customers are not charged any fees for withdrawing funds. When you withdraw funds from your trading account in a foreign currency, you may be charged foreign exchange fees.
If you withdraw funds to PayPal, you’ll receive slightly less due to PayPal’s foreign exchange rates being worse than transferring to your bank account.
Plus500 provides 24/7 customer support through email and live chat, available in multiple languages.
The customer service team is available in 30 languages and has a local office in Sydney, ensuring efficient issue resolution. Responses to inquiries are prompt and without delay.
However, a significant limitation is the absence of a direct phone line, which may be a concern for customers needing immediate assistance, especially in the fast-paced forex trading industry.
Verdict on Plus500 Customer Support
Plus500 offers reliable 24/7 customer support through email and live chat in over 30 languages, backed by a dedicated team in their Sydney office for efficient resolution of issues.
Plus500 provides several educational materials for beginners as well as advanced traders.
Verdict on Plus500’s Education
Plus500’s educational and research offerings, including a Trading Academy, market insights, and practical tools like an Economic Calendar and real-time alerts, provide valuable resources for traders at all levels.
Our team of experts gave Plus500 a 57/100 because they have low fees, fixed spreads, negative balance protection, and a simple-to-use platform combined with a guaranteed stop offering.
Although they offer several benefits for beginners, expert CFD traders may prefer more mainstream forex platforms with higher leverage to increase their risk profile. That said, the company offers a wide range of trading products that customers might find useful.
Overall, Plus500 is worth considering for those looking to make their first steps towards currency trading.
Plus500 has a $100 minimum deposit requirement for traders. The broker believes it’s a good amount to start trading as their recommended deposit is also at $100.
Plus500 lets you open a demo account with no time limit. You can use the trial account for as long as you need to familiarise yourself with the platform and create trading strategies.
Yes, it is safe to trade with Plus500, having a high trust score of 78 out of 100.
The broker is also regulated by multiple top-tier authorities, ensuring all traders are protected.
The leverage for a Plus500 account varies based on the instrument being traded. For instance, crypto, including bitcoin, has a leverage of 2:1, commodities have a leverage of 10:1 (20:1 for gold), and forex has a leverage of 30:1. Each instrument traded on Plus500 has a specific leverage that cannot be modified. Also, there are differences in Plus500 leverage levels for retail and professional traders.
Plus500 not only offers bitcoin trading but also a variety of other cryptocurrencies for trading and speculation. If you want to trade Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, and IOTA with Plus500, you’re in luck.
The cryptocurrency market operates 24 hours a day, seven days a week, making it unique compared to other financial markets that have specified trading hours. If you want to trade on weekends, you can do so at any time except for a two-hour window on Sundays between 12:00 and 14:00 UTC.
All reviews and forex provider comparison tables were created by Australians who don’t work for any of the forex providers compared. The forex provider comparisons information was gained from each provider’s website (including this Plus500 Review) or from demo & trading accounts. The forex comparisons look at elements, including the trading platforms, spreads and key trading features. Each financial services provider compared must be ASIC regulated, including the account types offered. Tables were designed to make forex trading setup easier, providing the pros/cons of different providers. The providers selected are all nationally certified with a strong market share to avoid scams or other poor conduct of some smaller unregulated forex service providers.
Ask an Expert
Does Plus500 offer negative balance protection?
Historically Plus500 distinguished itself from many brokers as they always included Negative Balance Protection.
While Plus500 still include this feature, all brokers regulated by ASIC, FCA or European Regulators such as CySEC of BaFIN much offer Negative Balance Protection.
Is Plus500 a Forex Broker or CFD Provider?
Plus500 prefer to call themselves a CFD Provider rather than a broker. This might be to emphasise their range of product which is quite diverse
Can you owe money on Plus500?
No, all clients with Plus500 receive negative balance protection
is plus500 safe?
Yes, we consider Plus500 to be a highly trusted broker. We gave them a score of 78 out of 100 for trust and 87 out of 100 for regulation. Regulation plays a large role in trust and Plus500 is regulated 9 regions including 5 tiers 1 regulators. Plus500 is also listed on the London stock market (LON:PLUS) which requires the broker meet strict guidelines set by the regulator.
Is Plus500 good for day trading?
While you can day trade with PLus500, day traders and scalp traders tend to prefer RAW spread rather than Standard style accounts so there may be better brokers to consider.
Is Plus500 better than eToro?