Over time, trading in the forex market has become more popular among traders, including those who are just starting their trading journey. Plus500 is one of the top forex brokers that provide a strong trading platform to meet various requirements. Learn what makes this forex broker exceptional in our Plus500 review with the necessary information that is aimed at every type of trader, including new and experienced ones, with sections dedicated to platforms, fees and commissions, education, regulations, and account creation.
Key Takeaways
- Plus500 is regulated by FCA, CySEC, ASIC, FMA, and more.
- The platform offers competitive spreads.
- Has guaranteed stop loss orders.
- Provides impressive range of CFD and other financial instruments.
Plus500 Overview
| Regulations | Regulated by FCA, CySEC, ASIC, FMA, and more |
| Supported Languages | English, Spanish, French, German, and others |
| Products | Forex, Indices, Commodities, Cryptocurrencies, CFDs |
| Min Deposit | $100 |
| Max Leverage | 1:300 |
| Trading Desk Type | Market Maker |
| Trading Platforms | Plus500 WebTrader, Mobile App |
| Deposit Options | Credit/Debit Card, Bank Transfer, PayPal |
| Withdrawal Options | Credit/Debit Card, Bank Transfer, PayPal |
| Demo Account | Yes |
| Foundation Year | 2008 |
| Headquarters Country | Israel |
Our Take On Plus500 Forex Broker
In recent years, Plus500 has established a good reputation because of its strict compliance with regulations and enhanced security features to encourage traders. Plus500 platform provides various trading features simple user experience on web and application versions. Education is rich and covers all levels of traders to assist them in their trading endeavors, as per our Plus500 broker review. Low spreads ensure that trading costs are low, although the structure of the assets is not as diverse as with other brokers. In conclusion, Plus500 still retains a fairly good performance for many traders.
Plus500 Pros and Cons
| Pros | Cons |
| Simple and easy to navigate user-interface on both online and on mobile. | Less choice of assets than some other trading brokers. |
| Lowest spreads with no commission on trading. | There are restrictions on leverage, particularly for retail clients. |
| Education section available. | No phone support is available. |
| Live chat support and email support available. | |
| Free demo account trading available. |
Plus500 Key Features and Services
Plus500 provides several important features and services to support its trading services, which can be useful for traders of all levels. Here are a few best listed:-
Security and Regulation
Plus500 has a high level of compliance with the rules and regulations of licensing bodies as far as its operations are concerned, making it safe for trading. The broker is regulated and authorized to operate by some of the world’s most recognized financial bodies like the FCA, CySEC, and ASIC. Compliance with these high standards ensures that Plus500 operates according to the highest financial and operational standards. The safety of the client’s funds is crucial, and every deposited sum is held in a separate account from the company’s working funds, so it is safe from any financial risks.
In addition, Plus500 has the following data and transaction security features: encryption and secure socket layer (SSL) protocols to protect personal and financial information. Strict guidelines are followed to ensure compliance and effective risk management.
In conclusion, Plus500’s compliance with the rules and regulations and the measures taken to ensure that the traders’ data and funds are secure make it possible to state that the company offers a safe trading platform.
Trading Platform and Tools
Plus500 web platform focuses on usability and navigation with simple and clear interface suitable for beginners and experienced traders. It has an enriched set of tools, such as charts, real-time quote, and bar, and numerous indicators, all of which are intended to improve the process of trading activity. It also has easy-to-use MetaTrader(MT4) and (MT5) trading platforms.
The Plus500 mobile app is a replica of the web version and allows traders to experience a smooth trading interface on the go. As per our research while writing this Plus500 review, we saw that the app is easy to navigate, it is fast, and does not take a long time to place an order like other trading apps. It offers all the necessary tools, including real-time quotes, an advanced charting package, and account-related facilities to help traders remain connected with the markets at any time. Overall, the web platform and the mobile application of Plus500 provide a stable and efficient trading environment, which is why the company is popular among many traders.
Commission and Fees
Spreads: Plus500 has low spread costs, meaning that the amount of money required to open and close positions is affordable compared to most providers. Some online forex brokers offer their spreads on major forex pairs that are relatively more competitive, and therefore, the overall trading cost is comparatively cheaper.
Commissions: One key advantage of Plus500 is that, unlike some other brokers, this company does not take commissions for transactions. This makes the cost model less complicated and is beneficial for traders as it reduces the overall cost of transactions.
Overnight fees: Nevertheless, there are overnight fees, which are also called swap fees. They are charged for positions held at night and depend on the asset. Even though these fees are clearly stated, it is crucial to take them into account when calculating the expenses, especially if a trader has long-term positions.
Transparency of fees: Plus500’s website easily provides information concerning fees, so traders can easily determine the total cost implications.
In conclusion, the Plus500 trading fees are relatively low and clearly defined, which makes it possible for traders to find this platform appealing and suitable for their needs. Lack of commissions and the availability of detailed information about fees are the factors that can explain why it is considered to be the best forex broker.
Account Types
- Standard Account: The Standard account is suitable for most traders because it allows trading with all available instruments at Plus500 like Forex, CFDs on commodities, indices, and cryptocurrencies. It also includes competitive spreads, no commissions on trades, and access to trading education. This account type requires a minimum deposit of $100 and offers leverage options up to 1:30 for retail clients.
- Raw Spread Account: Another type of trading account offered by Plus500 is the Raw Spread Account, which is designed for professional traders who want the tightest spread possible. This type of account offers the trader real-time trading with narrower prices, often in exchange for a relatively small fee per transaction. The Raw Spread Account is designed for active traders who want to pay the smallest possible amount in commissions and receive exact market quotations. According to our Plus500 broker review, both accounts provide a demo account for practice trading and are supported by strong regulations and high-quality trading platforms.
Account Opening Process, Deposits, and Withdrawals
Account Opening Process
Opening a Plus500 account is easy. There are some simple steps to follow on the official website.
Step 1: Go to the Plus500 website and open the “Trading” section by clicking on the “Start Trading” button.
Step 2: You must complete the registration form with your personal information, choose a username and password, and confirm your email.
Step 3: Next, go through the KYC (Know Your Customer) procedure, which involves providing the necessary identification documents, including a passport or any other official identification and utility bill. After this, you can fund your trading account and start trading the documents.
Deposits
Deposit methods accepted at Plus500 include credit/debit cards, bank transfers, PayPal, and Skrill, among others. Deposits take a few moments when using credit/debit cards or e-wallets and a few business days when using bank transfers at the Plus500 trading platform. The initial deposit to open a Plus500 trading account is $100, making it possible for most traders to deposit the minimum amount using their relaible payment method. These deposit options aim to offer flexibility and ease to users across the world.
Withdrawals
Withdrawing the amount from a Plus500 broker account is also easy, and you have more than one option, such as credit/debit card, bank transfer, and e-wallets like PayPal and Skrill. The time taken to complete the withdrawal request is usually 1-3 business days, depending on the method used. Withdrawal processes are also efficient with Plus500, although it is important to note any minimum withdrawal limits that are in place depending on the method. Specifically, many Plus500 broker reviews say that the platform does not charge its clients for withdrawal fees in most cases, but it is advisable to be acquainted with any special conditions or third party charges.
In conclusion, Plus500 provides a clear and efficient way of depositing and withdrawing funds in trading accounts, thus enabling traders to access their money quickly.
Tradable Instruments
Plus500 has a large number of trading instruments and currency pair options catering to traders’ different preferences. The broker offers a wide range of forex currency pairs: major, minor, and exotic pairs for traders to participate in global currency trading. Trading in commodities is also active, and the trader can opt to trade in various popular commodities such as gold, silver, crude oil, and natural gas, among others, to diversify the portfolio.
Indices offered at Plus500 involve trading in the world’s leading stock indices, such as the S&P 500, NASDAQ, FTSE 100, and DAX 30, which allow the trader to track broad market trends. Plus500 also provides a number of cryptocurrency CFDs, such as Bitcoin, Ethereum, Litecoin, and Ripple, through which traders can invest in the highly unpredictable crypto markets without actually possessing the tokens.
This broad number of tradable assets makes Plus500 a universal forex broker, which can be a good choice for those who want to invest in various types of instruments and assets. As per many Plus500 reviews, the range and accessibility of the assets are often emphasized as major advantages, which explains why this forex trading platform is so popular among traders.
Promotions and Bonuses
Plus500 offers welcome bonus and other promotions to new clients at the time of registration or when they make a deposit for the first time. Some of these promotions are as follows: These promotions can be in the form of deposit bonuses, where new traders receive an extra amount of money depending on the amount of money they deposit with the broker to increase their trading capital. However, these bonuses have certain differences and can be available depending on the region due to legislation.
For example, Plus500 may promote a welcome bonus or a first deposit bonus to new customers in some jurisdictions and not in others. It is highly advisable for clients to visit the Plus500 official website or to turn to customer service to find out the current bonus offers available to clients from their country.
Plus500 also operates seasonal promotions that may involve offering rebates, cash back, or trading tournaments, which adds some extra value to both new and old traders. These promotions and bonuses, when offered, improve the trading experience and give an added reason to prefer Plus500 as one of the top forex brokers.
It is always important to go through the terms and conditions of any promotional offer to be clear on the requirements and what is offered in return.
Customer Support
Customer support is well developed through multiple means to ensure that traders are well attended by Plus500. The most prominent means of communication is through the live chat feature, which is available around the clock and offers immediate connection to support representatives. For more elaborate questions and concerns, there is also an email support option. They usually reply within 24 hours.
However, the forex trading platform does not provide phone support, but its live chat and email support are quite responsive. Customers can also interact with the broker through social media, with updates and assistance provided through Facebook and Twitter. Also, the forex broker supports customer support in many languages, according to our expert’s analysis in this Plus500 review. The support team is also competent and available to assist in different ways, including technical platform problems and account questions.
Research and Educational Resources
Plus500 offers numerous tools for traders to help them make the right decisions, including research and education. It also has features like real-time graphics for price charts, indicators, and advanced market data that help traders analyze market conditions and devise proper trading strategies.
Education section is well developed and covers materials for new traders as well as for advanced users for better forex trading strategies to earn big profits. Plus500 provides a range of help resources, including help guides, FAQs, and tutorial videos that help traders understand the basics of trading, how to use the platform, and even more complex aspects of trading. Also, it is possible to obtain market analysis, calendar of events, and news feed straight from the trading terminal.
The Plus500 platform blog provides important information and trading advice that will increase traders’ experience and proficiency. These resources are aimed at helping new traders have a great start while at the same time providing sophisticated features and information to experienced traders to ensure that the Plus500 broker is a good option for everyone who are willing to go with forex trading activity.
Forex Trading Mobile App
The Plus500 mobile app is robust for any trader who needs to use their mobile platform to trade in forex. The app’s concept is to have a simple and uncluttered interface that allows users to trade effortlessly on both iOS and Android. Some of the notable features include current prices, charts, and other tools that help the trader identify market trends and make the right decisions instantly.
The process of placing an order is simple and intuitive. The app allows any type of orders available on the web platform, including market, limit, and stop orders. It makes traders always informed about the current status of the market and their accounts, so they do not miss anything. It also has options for logging in securely like fingerprint, and face recognition among others. As per our Plus500 app review, the platform’s mobile application offers a full trading solution for traders, enabling them to monitor the markets and control their investments from their mobile devices.
Our Conclusion
Plus500 forex trading platform is a stable and functional brand that will meet the needs of both newcomers and professionals. The firm is an excellent option in the forex market because of its strong regulations, easy-to-use platform, low spreads, and detailed learning materials. The ability to trade on the move is a distinct advantage of the mobile app, and the clearly stated fees and excellent customer service add to the platform’s appeal.
Plus500 receives a high score from our Plus500 review, and we encourage traders to use this platform for safe and diverse trading. Overall, it can be said that Plus500 is a reliable platform for forex trading as it provides reasonable opportunities and a high level of security.
FAQs
Is Plus500 Safe?
Yes, Plus500 is indeed safe and is a legitimate and regulated trading platform and also takes strict measures to ensure the safety of the client’s money and their identity.
Is Plus500 Regulated?
Yes, Plus500 is regulated by several of the world’s premier financial authorities, including the FCA in the United Kingdom, CySEC in Cyprus, and ASIC in Australia.
What Is The Minimum Deposit For Plus500?
Plus500 has a minimum deposit requirement of $100, which ensures that most traders can easily commence their trading experience.
Is Plus500 Suitable For Beginners?
Yes, Plus500 is ideal for new traders because of its easy-to-use interface, extensive tutorials, and friendly customer support that can assist those who are just starting their trading journey.
Does Plus500 Provide A Demo Account?
Yes, Plus500 offers a demo account through which the users can get a feel of the trading platform and some of the trading techniques without putting their real money to stake.
What Instruments Can I Trade On Plus500?
Plus500 offers its clients opportunities to trade in forex currency pairs, commodities, indices, cryptocurrencies, and contracts for differences on other underlying instruments. Such a structure creates the possibility of diversified trading.