Plus500 Review

Name: Plus500 Forex
Item: Plus500 Forex
Rating: 4.5
Author: Dan Schmidt

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

The trading of futures is available through Plus500US Financial Services LLC d/b/a Plus500, a Futures Commission Merchant registered with the US Commodity Futures Trading Commission and a member of the National Futures Association (NFA ID number 0001398).

Plus500 is a CFD broker with a wide portfolio of 2800+ CFDs, 2700+ Shares, and a variety of Futures (Crypto, Metals, Agriculture, Forex, Interest Rates, Energy, and Equity Index). For those who are new to the market, CFDs are similar to binary options in the U.S. where traders take all-or-nothing speculation on the prices of certain securities like indices, commodities or currencies. While not legal to trade in the U.S., CFDs are legal in many jurisdictions across the globe and Plus500 offers a wide array of tradable markets using these instruments. U.S. customers can, instead, take advantage of the US-based Plus500 Futures platform.

Plus500 US offers a deposit bonus of up to $200, which allows you to trade without paying commissions until the deposit amount is used up. The bonus only applies to your first deposit. In addition, there are:

No Data fees
No Platform fees
No Deposit and withdrawal fees (except wire withdrawal)
No Routing fees

Remember, however, that there could be overnight funding, currency conversion, guaranteed stop order, and inactivity fees.

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.

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Pros

Low spreads and commissions and no withdrawal fees
Web platform and mobile app offer robust charting capabilities, ensuring a consistent experience across all devices
Unlimited demo account & 24/7 customer support

Cons

Lacks some advanced tools making it less attractive for active traders
Higher fees than competitors, which include currency conversion, overnight funding and more fees

Details

Currency Pairs:
60+
Account Minimum:
$100
Spreads:
Start at 1.0
Inactivity Fees:
$10 a month after three months of no trading activity
Commissions:
$0
Supports US Traders?:
Yes
Trading Platform:
Mobile, Desktop and Trading Central

Plus500 Forex Ratings at a Glance

Plus500 Fees, Commissions and Account Minimums
Plus500 Usability
Plus500 Education
Plus500 Customer Support
Plus500 Offerings
Plus500 Mobile App
Plus500 Overall Rating

Table of Contents

Why Plus500 Brokerage Over Others?  
Brokerage Quick Summary 
Plus500 Fees, Commissions and Account Minimums
See All 10 Items

Why Plus500 Brokerage Over Others?

Plus500 is a global multi-asset fintech group operating trading platforms globally, offering offers a range of trading products including CFDs, Share dealing and Futures trading (US). Plus500 is located in Israel. Plus500 is regulated by FCA, ASIC, MiFID, JFSA, MAS, FMA, CFTC, CySEC, EFSA; registered with BaFIN, CONSOB, CNMV. The broker is a fast-growing firm spreading all across Europe and Asia. In addition to the CFD and Shares offers, traders can trade Futures on Crypto, Agriculture, Metals, Forex, Interest rates, Energy and Equity index via the US-available platform Plus500Futures.

Plus500 has a robust trading platform and no shortage of viable trading scenarios. Some of the best features about Plus 500 include:

Seamless mobile trading: Plus500 has one of the highest-rated trading apps on the iTunes and Google Play stores. The WebTrader app has all the bells and whistles of the standard platform.
Platform use: Plus500 US offers demo trading via the WebTrader platform and the Plus500 mobile app. The demo account features live quotes and simulates live market conditions. Once users are up to speed on a demo account, they can easily switch to live trading.
Onboarding: You’ll need to verify personal information and provide a payment method, but little else is required. You can use debit cards and bank transfers.
Other features include:

Fast and secure withdrawals
Futures Academy
Low and attractive day trading margins for Futures trading
Funds held in segregated accounts
Protected, secure and reliable

Brokerage Quick Summary

*Illustrative prices

Asset Classes	CFDs (shares, ETFs, crypto, forex, options, indexes, commodities), Shares, Futures (crypto, agriculture, metals, forex, interest rates, energy, equity index)
Platform	Web browser platform for desktop usage; mobile app for iOS and Android
Mobile App	WebTrader mobile app available at Google Play or Apple App Store
Account Minimum	$100, or it's equivalent in the trader's currency for the CFD platform.
Available Account Types	Free demo accounts available with no time limit Professional accounts Only one trading account is permitted per person

Plus500 Fees, Commissions and Account Minimums

Plus500 doesn’t charge commissions for trades. You can trade any market available on the platform completely free of commission and pay only the spread between the trade price. The spreads vary depending on the market and instrument you’re trading but one of the benefits of Plus500’s bare-bones approach is that spreads are kept tight.

Overnight Funding Fee	Varies by instrument
Inactivity Fee	$10 per month after 3 months of continuous inactivity
Currency Conversion Fee	0.7% for all trades on instruments denominated in a currency different from the currency of your account.
Withdrawals	$0
Deposits and Withdrawals	Free
Account Minimum	$100

Plus500 Usability

*Illustrative prices

Plus500 clients will feel at home on the platform in no time. The demo account has no expiration. In fact, your demo account will be automatically recharged anytime it drops below a certain amount.

Abundance of tradable markets: CFDs are diverse instruments that can be traded across a number of different asset classes. Clients can access indices from stock exchanges across the globe, trade in different commodity and currency futures or even dabble in cryptocurrency CFDs. Futures are financial contracts in which two parties, usually a buyer and seller, agree to buy or sell (transact) a financial asset like a commodity, currency or index, at a fixed price and time in the future. You can trade Futures via Plus500's US-exclusive platform Plus500Futures.

Desktop and mobile app experience: Plus500 doesn’t want an intimidating platform with lots of trading jargon and advanced technical tools. Trading on the platform is straightforward.

Free demo account with automatic reloads: Plenty of brokers offer a demo account so prospective clients can test out the platform and get used to its feel. But not many brokers allow access to a demo account in perpetuity — Plus500 does. Your demo account will be open as long as you want to use it and you can self-adjust your demo account balance.

Plus500 Education

Plus500 has launched a Trading Academy, which offers a variety of educational products including eBook, video traders guide and FAQs to ease trading for both beginner and experienced traders.

Users are able to:

Read eBooks
Watch educational videos
Explore FAQs
Attend the Futures academy with free educational videos and articles to stay in the loop on the Futures market.
Attend weekly webinars that discuss market trends and technical analysis. The webinars host market analysts and experts courtesy of the Corellian Trading Academy. You can also watch these videos on YouTube.

There’s also a News, Markets and Insights section where you can learn what’s happening right now on the markets and around the world.

Plus500 Customer Support

Plus500’s customer support team is available 24/7 in 16 languages via live chat, WhatsApp and email, providing speedy answers to customer questions.

Plus500 Offerings

Plus500 offers a wide range of contracts, including:

9 Agriculture contracts
2 Cryptocurrency contracts
7 Metals contracts
23 Commodity contracts
7 Energy contracts
13 Forex contracts
4 Interest rate contracts
10 Equity index contracts

To its US clients, Plus500 offers simple, fast and accessible Futures trading like you've never seen before.

Another highlight is the first deposit bonus available to Plus500Futures clients (T&Cs apply).

Plus500 Futures

You can now trade futures with Plus500, learning how futures work through educational articles or videos. Futures on Plus500 are laid out clearly on a singular chart that includes cryptos, agriculture, metals, forex, interest rates, energy and equity index assets.

Plus500 Mobile App

Taking your trading operation to the small screen won’t reduce any utility when using Plus500’s mobile app. You’ll be able to access the thousands of available trading instruments and use all the tools and indicators found on the desktop platform. Trading is a seamless one-touch process and your account balances and details are easily located. The mobile app is available for both iOS and Android operating systems.

Plus500 Overall Rating

Plus500 offers service to U.S. clients through Plus500 Futures. But CFDs are perfectly fine in most European and Asian jurisdictions, meaning you get more options if you’re outside the U.S. Plus500 regulators include: Plus500CY Ltd authorized & regulated by CySEC (#250/14). Plus500UK Ltd authorized & regulated by the FCA (#509909). Plus500S Pte Ltd, licensed by the MAS (#CMSI00648-1) and IE Singapore (#PLUS/CBL/2018). PlusS0OSEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039).Plus500AU Pty Ltd (ACN 153301681), licensed by ASIC in Australia ASL #417727. FMA in New Zealand FSP #486026, Authorised Financial Services Provider in South Africa PSP #47546. You do not own or have any rights to the underlying assets.

CFDs are inherently risky derivatives thanks to the leverage involved and the volatile nature of either/or trades. If you lose a few trades in a row, you could find yourself facing a margin call.

If you understand the risk of trading derivatives like CFDs, Plus500 is a great broker to get started with. The platform is intuitive and comprehensive, providing access to all of the asset classes offered by the brokerage. The demo account lets clients practice until they feel comfortable moving on to the real thing and video tutorials show how to use all features of the platform. If you’re outside of U.S. jurisdiction and want to test out CFD trading, Plus500 is a no-frills broker with low fees and access to dozens of different markets.

Frequently Asked Questions

Is Plus500 legitimate?

Yes, Plus500 is a legitimate online trading platform and is regulated by several financial authorities, ensuring safety and compliance for its users.

Is Plus500 good for beginners?

Plus500 can be considered good for beginners due to its user-friendly interface and easy-to-understand trading tools, although potential users should also be aware of the risks involved in trading.