Wanna see if Plus500 is a legit broker? Is Plus500 safe to trade? It spread is high or low? How long to deposit or withdraw?
We provide answers to all the questions in this Plus500 Review.
We check Plus500 licenses and regulation status to see is Plus500 safe. Compare Plus500βs fees like spread & commission from its live account to other 150 brokers. The time for deposit & withdrawal and many more findings you can get in this Review.
What is Plus500
Plus500 a global CFD broker, established in 2008.
The company is operating various entities and regulated by several global financial authorities, including the top-tier Financial Conduct Authority (FCA) in the United Kingdom, Singapore MAS and Australian ASIC.
Plus500 Highlights
| πΊοΈ Regulated in | UK, Cyprus, Australia, Singapore |
| π‘οΈ Is Plus500 safe to trade | Yes |
| π΅ EUR/USD spread | 0.6 pips |
| π¦ Deposit | Cards, Bank Transfer, PayPal, Skrill, Trustly, MyBank, giropay, Klarna |
| π° Minimum deposit | US$100 |
| π¦ Withdrawal | Cards, Bank Transfer, PayPal, Skrill, Trustly, MyBank, giropay, Klarna |
| π» Trading platform | Proprietary Plus500 WebTrader |
| π³ Trading markets | CFDs on Shares, Indices, Forex, Commodities, ETFs and Cryptocurrencies. Options |
| π Number of product | 2800+ |
| π Live chat response | Instant and relevant answers |
Regulation
License and regulation are the keys to fund security. There are two factors to verify the broker background and licenses it carries and how trader is protected if something goes wrong.
Is Plus500 legit
Plus500 is a UK FTSE250 company listed on the London Stock Exchanges Main Market.
Also, Plus500 is regulated by several financial authorities, including the UKβs Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC) with registers as authorized service provider by FSCA South Africa (SP 47546) and FMA in New Zealand (FSP 486026).
Plus500 Licenses and Regulatory status
| Entity | Registered in | Regulator | License no. | Status |
| Plus500UK Ltd | United Kingdom | Financial Conduct Authority (FCA) | 509909 | Currently Regulated |
| Plus500CY Ltd | Cyprus | Cyprus Securities and Exchange Commission (CySEC) | 250/14 | Currently Regulated |
| Plus500AU Pty Ltd | Austalia | Australian Securities and Investment Commission (ASIC) | AFSL 417727 | Currently Regulated |
| Plus500SG Pte Ltd | Singapore | Monetary Authority of Singapore (MAS) | CMS100648-1 | Currently Regulated |
| Plus500SEY Ltd | Seychelles | Seychelles Financial Services Authority (SFSA) | No. SD039 | Currently Regulated |
Is Plus500 safe
Yes, Plus500 is considered safe because it is regulated by the top-tiers FCA, MAS and ASIC.
Plus500 operates multiple legal and fully regulated entities allowing to serve trades worldwide. The point of the entity also applies regulatory rules or restrictions imposed to particular residents also the amount of protection in case of insolvency.
Plus500 Compensation Scheme
| Entity | Compensation Amount | Negative Balance Protection |
| Plus500UK Ltd | Β£85,000 | Yes |
| Plus500CY Ltd | β¬20,000 | Yes |
| Plus500AU Pty Ltd | No compensation | Yes |
| Plus500SG Pte Ltd | $50,000 | Yes |
| Plus500SEY Ltd | No compensation | No |
We recommend registering your account with the UK entity or Singapore entity if itβs available for you as we consider those regulations as the best ones.
Plus500 provides negative balance protection for traders from any entity, while Seychelles being an offshore zone does not mandate this rule.
Markets and Products
At Plus500 you can trade only CFDs on popular assets including Forex, Stocks, Commodities, Cryptocurrencies, ETFs, Indices, Options and over 2000 Stocks.
| Markets | Instruments |
| Forex | 71 |
| ETFs | 95 |
| Commodities | 22 |
| Cryptocurrencies | 3 |
| Shares | 2000+ |
Stock
We found at Plus500 one of the best Stock ranges with over 2000 Shares in portfolio. Likewise on CFD basis offering non-commission trading opportunity and physical ownership of the Share.
Bitcoin
Plus500 Cryptos range including popular Bitcoin, Ethereum and Litecoin available for trading as CFDs, meaning through the option to speculate on the price movement.
Account types
There is one Single Account at Plus500 also with an easy switch between Demo Account and Live account modes. Islamic Account is optional upon request and registration too.
There is a mentioning that bigger account size will entitle additional benefits and bonuses like discounts to the trading account, all managed as tailored solution.
Fees and commissions
Plus500 fee levels we ranked as average and low based on the instrument and compare to 150 brokers that we check through Live account spread.
Spread we collect for popular instruments, 6 markets and 150 brokers
| Markets | Instruments | Low | Average | High |
|---|---|---|---|---|
| Forex | EUR/USD | 0.1-0.9 | 1-1.5 | 1.6 or higher |
| Indices | US S&P500 | 0.75-1 | ||
| Commodities | Gold | |||
| Stocks | Tesla | |||
| ETFs | US Russell 2000 | |||
| Cryptocurrencies | Bitcoin | 0.5-0.75% |
Spreads
Plus500 costs are built into a spread for trading CFDs plus overnight charges, also Commission Free Stocks and Currencies.
Comparing the spreads derived from Live Account to industry benchmarks, we rank Plus500 Live Spread on Stock indices higher. While the spreads on Forex and Commodities are in industry averages.
| Markets | Instruments | Plus500 Spread | Other brokersβ avg spread |
| Forex | EUR/USD | 1.2 | 1-1.5 |
| Indices | US S&P500 | 0.7 | |
| Commodities | Gold | 0.59 | |
| Stocks | Tesla | 2.79 | |
| ETFs | US Russell2000 | 0.7 | |
| Cryptocurrencies | Bitcoin | 0.28% |
Trading Shares in Plus500 is offered via CFDs, so it is a speculation on the price movement only. Share trading is Live, Share price is 0 trading the direction of the price while you will only pay a spread for trading Shares.
Other Fees
Plus500 non-trading fees are favorable. There is no fee for deposits and withdrawals. However, beware of inactivity fee of 10$ for an account deemed inactive.
Trading Conditions
The trading conditions at Plus500 are good but you can deploy a standard trading strategies, scalping and hedging are restricted.
| Trading Conditions | Yes/No |
| Hedging Allowed | No |
| Scalping Allowed | No |
| Change Leverage Allowed | Yes |
Hedging is not allowed at Plus500.
Plus500 does not allow scalping and mainstays on its own platform so there is no Expert Advisors (EAs) and no VPS too.
The use of leverage is allowed likewise the change of its levels also defined by the regulatory restriction of each jurisdiction.
Deposit
Plus500 charges no deposit fees. You can use bank transfer, Credit or Debit cards, and electronic wallets.
A bank transfer can take several business days, while payment with credit/debit cards is instant.
| Deposit Method | Funding Time | Fee |
| Credit Card | Instant | Free |
| Skrill | Instant | Free |
| PayPal | Instant | Free |
| Wire Transfer | 4-7 business days | Free |
Minimum Deposit
The Minimum deposit upon Plus500 account opening is set to 100$ or equivalent.
Withdrawal
Plus500 charges no fees for withdrawals.
Funds are withdrawn using the Funds Management area in your account and done by same methods as deposits. Typically Plus500 confirms and processes withdrawal requests within 1 business day.
| Withdrawal Method | Withdrawal Time | Fee |
| Credit Card | Up to 8 business days | 0$ |
| Skrill | 1-2 business days | 0$ |
| PayPal | 1-2 business days | 0$ |
| Wire Transfer | Up to 8 business days | 0$ |
Bonus
There are various Bonuses at Plus500, you can receive bonus for Initial Deposit and gain rebates on your trading activity also receive Trader Points that will be transferred as a Bonus to your Bonus Account.
Trading Platform
Plus500 platform is proprietary software solely based in Web.
WebTrader
Plus500 WebTrader is an intuitive design platform supporting various languages and is easy to use or navigate. To login Plus500 follow login link on the website and start trading, platform is accessible through any web browser across all devices such as Windows, Mac.
App
Android and IOs Plus500 Mobile App goes in the package and is especially well-designed gaining our highest regard for its navigation and powerful tools included.
Research and Tools
Plus500 provides a good range of research tools including standard Economic Calendars, Alerts, News and market insights and tools available right from the platform.
What is a plus Risk Management tools including Guaranteed Stop Loss. On the flip side, the charting tools are rather limited.
Plus500 Research tools available via:
- Plus500 trading platform
- Plus500 website
Education
Plus500 education materials are limited.
There are only education videos in Traders Guide Section or Platform tutorials with Demo Account for your practice.
On its negative side comprehensive education necessary for beginners is not provided, brokersβ proposal might more suit traders with experience.
At Plus500 you can learn though the following ways:
- Demo account
- Platform tutorial videos
Demo
Demo Account is available on unlimited basis and is an easy switch between Live and Demo mode through the platform.
Customer Service
Plus500 customer supported receive good ranking, available 24/7 and many common questions are answered via FAQ through Live Chat accessible via website or directly through the platform. We got relevant answer with in person customer representative.
From the downsides there is no telephone number.
Plus500 Customer Support is available in various languages via:
- Live chat
Plus500 Live chat response is quick speed, the chat agents are helpful
| Question Asked | We ask about commissions and spreads. |
| Time of Reply | It was within minutes to connect to Live Chat and response. |
| Quality of Reply | The answer is relevant. |
Conclusion
Plus500 is a safe broker to trade. It allows to trade CFDs on great range of instruments, but also limited to CFDs only too.
Operating various Plus500 entities you can choose the suitable for your conditions, if its possible, while we would recommend trading with the UK entity. For the downsides of Plus500, there is no alternative platform.
We recommend Plus500 for more experienced traders who prefer CFDs trading option.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.