Plus500 Review and Tutorial 2020

Our Plus500 review includes everything from the Webtrader online trading platform, to the mobile app and fees. Whether you are looking to login and trade Bitcoin, ripple or Oil, or you just need details on the demo account and minimum deposit, we cover everything in this detailed review.

Plus500 is a leading online Contract for Difference (CFDs) trading platform that is owned by a holding company called Plus500 Ltd. The company is listed on the Main Market of the London Stock Exchange (LON:PLUS). Operating through 3 different subsidiaries:

  • Plus500UK Ltd,
  • Plus500CY Ltd
  • Plus500AU Pty Ltd.

Making the brand synonymous with reliability and safety.

This is largely due to the fact that Plus500 (or subsidiaries) are regulated in several different jurisdictions around the world. In addition to being regulated around the world, Plus500 is also an active sponsor of professional Soccer and Rugby teams. The firm have been the official sponsor of Club Atletico de Madrid since 2016.Traders can earn a first deposit bonus on their initial deposit, up to a maximum of $10,000. Additional leverage of up to 1:300 is also available.

Regulation & Reputation

Since its inception in 2008, Plus500 has earned a reputation among traders in the online community as being reliable and trusted. Plus500 Ltd is listed on the Main Market of the London Stock Exchange, whichalso helps to bolster the broker’s reputation as being financially stable. In terms of regulatory oversight, Plus500 subsidiaries are regulated by several regulatory agencies:

  • Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
  • Plus500CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
  • Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorised to issue these products to Australian residents.
  • Derivatives issuer licence in New Zealand, FSP #. 486026 authorises them to issue these products to New Zealand residents.
  • Plus500AU Pty Ltd, is also an authorised Financial Services Provider in South Africa, FSP 47546.

With subsidiaries as regulated entities under the UK’s FCA, ASIC in Australia and CySEC, Plus500 is able to work with traders from Australia, Europe and the UK. Clients can therefore take advantage of the benefits of being protected under the Financial Services Compensation Scheme (FSCS) and Investors Compensation Scheme. For full details of the protection these schemes offer, visit the website.

Trading Platforms

Although Plus500 uses a proprietary trading platform, the trading platform (Webtrader) is able to cater to the different needs of the broker’s international clientele base, as it is available across several different versions.

There is a desktop version of the trading platform which traders can download and install onto their computers. Retail and professional accounts operate on the same platform. This creates pros and cons but with advanced research tools next to the ability to execute trades in a user friendly way the platform performs well.

For those who wish to trade directly from the internet, there is a web-based version of the trading platform which can be accessed with any web browser. There is no integration with MT4 at present.

The key difference between the Webtrader trading platform and the platforms provided by other brokers in the industry is the fact that Plus500 trading platforms work seamlessly with each other.

Plus500 Mobile Trading Platforms

Mobile Trading

A mobile version of the trading platform is also available to traders who wish to trade the markets using just their smartphones or mobile devices. Provided free of charge, the mobile trading app can be downloaded directly from Google Playstore or Apple App Store.

The mobile app is fully functioning, and offers all the trading options that the web based version does. It is a single click download, and trading via the app is quick and easy. Look and feel between mobile and web based platforms is kept the same, making transition between the two very easy.

Both Android and iOS versions retain all the same low trading fees, spreads and rates etc, and any trading portfolio is retained across all platforms.

Trading Accounts

Plus500 has only provided one type of trading account, a standard trading account. The standard trading account requires a minimum deposit of $100 to open. During the recent system upgrade, the broker has upgraded all their clients’ trading accounts to a Gold account status.

With this recent enhancement, existing account holders will pay lower premium fees. However they will be subjected to a higher minimum trade volume.

Apart from the standard trading account, Plus500 has also provided a free unlimited demo account which potential clients can use to test out the performance of the trading platform and develop a trading strategy.

Compatible Trading App Platforms At Plus500

Although there is only one trading account, there is provision for traders to be classed as “professional” rather than “retail” clients. The benefits are increased leverage (1:300) and fewer restrictions on margin.

The downside however, is that regulatory protection is reduced for ‘Pro’ accounts (negative balance protection for example). Visit the website to apply, or see if you will be eligible for a professional account.

Bonus Offers & Promos

There are a range of bonus offers available for traders in the ASIC regulated region. The size of the deposit bonus varies based on the size of the first deposit – but can reach up to $10,000 AUD. On visiting Plus500, visit the bonus page to see the bonus codes you need to enter when making your first deposit.

The terms of these bonuses include a requirement to accumulate “TPoints”. These are earned as you trade and once a certain amount have been collected, the awarded bonus can be withdrawn as cash. Assets and investments vary in terms of how many TPoints they accrue, full T&Cs are on the relevant bonus page for your region.

Assets & Instruments

Traders will be pleased to know that there are more than 2000 instruments to choose from using CFDs. These underlying assets include major classes such as currency pairs, cryptocurrencies, commodities, ETFs, options and stocks. Available leverage is as high as 1:300.

Cryptocurrency leverage is capped at 1:2 by the regulator, but assets like Bitcoin, Ripple and Litecoin are all available to trade with tight spreads.

Customer Support

While the support service at Plus500 is available 24/7, it is only available through email or live chat. So although their website is available in 32 different languages, there is no telephone support.

Deposit And Withdrawal

Available payment and withdrawal methods at Plus500 are Credit/Debit Card (Visa or MasterCard), PayPal, Skrill (Moneybookers), or Bank Transfer.

The minimum deposit is $100.

The same methods can be used for making deposits and withdrawals. For withdrawals, the processing time is 3 business days. It should be noted that all withdrawal methods have a minimum amount threshold and you can only withdraw through the method that you used initially for making your deposit.

There are no withdrawal fees, though there are inactivity fees and some positions may be subject to overnight fees.

Is Plus500 Best For Day Trading?

Without a doubt, Plus500 operates with a high standard of efficiency and reliability. Their digital Webtrader trading platform, is proprietary and able to perform the job of executing trades quickly. In addition, there is a wide range of assets for you to choose from to trade with.

As a day trader, it is important that you can execute as many trades as needed within a short time frame. With the huge asset index, you will be able to do just that, without difficulties. In addition, the fact that you can open and close a CFD position at any time during trading hours, means you can review and amend your positions and investing portfolio however you need to.

Plus500 vs eToro

BrokerMinimum DepositRegulatorMT4
Plus500$100FCA, CySec, ASICNo
eToro$200FCAYes

Plus500 compares well to eToro, with a larger range of markets and far more research and analysis tools. eToro tends to cater to more casual traders – perhaps who’s time is limited. Copy Trading is their big feature – but they do offer fractionally smaller spreads (trading costs). Plus500 however, delivers a superior service for more involved traders, and also has a lower minimum deposit and more advanced trading platform.

BrokerFTSEOilEUR/USD
Plus500DynamicDynamicDynamic
eToro1 pt (var)5 pts3 pips (var)

Awards

Best Overall Broker 2020
Best Trading App

FAQs

What is the minimum deposit requirement to open a trading account?

The minimum deposit requirement is $100.

How fast can my withdrawal request be processed?

The typical processing time for a withdrawal request ranges from one business day to three business days.

Is Plus500 a reliable broker?

Yes. They have been operational since 2008 and subsidiaries are regulated in several countries around the world including the UK, Singapore and Australia.

What kind of trading platform does Plus500 have?

The company uses a proprietary trading platform to provide their traders with access to the financial markets.

What is the maximum leverage available at Plus500?

The maximum leverage offered by Plus500 is 1:30 as per regulatory guidelines. Leverage varies by asset (crypto trades are limited to 1:2). Traders in Non-EU regulated markets can utilise higher levels of margin. 1:30 is a limit imposed by ESMA in European Economic Area only.

Plus500 vs Etoro

Plus500 has tighter spreads for most assets than eToro, and also has a broader range. Social trading is not available, though it is at eToro. Plus500 also has higher levels of regulation and is a much more widely recognised and ‘global’ firm.

Share Price

Plus500 are listed on the London Stock Exchange (LON:PLUS).

Accepted Countries

Plus500 accepts traders from Australia, United Kingdom, South Africa, Singapore, Hong Kong, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Plus500 from Belgium, Iran, United States, Canada, Zimbabwe, Nigeria, Cote D’Ivoire, Cameroon, Thailand, India, Indonesia, Brazil, Egypt, Pakistan, France, Cayman Islands, Philippines.

Be the 1st to vote.