Plus500 is an international forex broker based in the UK. Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License 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 us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also anauthorised Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on Plus500’s websites.
Plus500 is a public company listed on the London Stock Exchange.
Please note that Plus500 does not accept U.S. clients. Therefore, if you are located in the United States, we suggest choosing another top rated broker.
Your capital is at risk
Plus500 is a CFDs service
Features at Plus500
Plus500 offers a complete integrated multi asset software trading platform. A trader can trade CFDs on Indices, Forex, Commodities, Crypto, Shares, Options and ETFs. In addition the broker offers a Welcome bonus – AU$30, T&Cs apply; First deposit bonus – up to AU$10000, T&Cs apply. Plus500 bonus is applicable only in Australia, New Zealand, South Africa, Germany and UK.
Plus500 requires a minimum initial deposit of $100 and accounts can be funded through Visa/MasterCard, MoneyBookers or through a wire transfer. The maximum leverage on Plus500 accounts is 1:300 and they offer two types of accounts: a live funded account and a free unlimited-time demo trading account complete with a trading platform. Keep in mind that increasing the leverage as part of your strategy also increases risk! Trading on margin is high-risk and is not suitable for all investors.
Unlike most online broker’s demo accounts, the Plus500 demo account does not have a specified time period, giving the prospective trader the advantage of an unlimited training period before beginning to trade a live account.
The company makes their commissions on the dealing spreads, which are two pips for EUR/USD.
The Plus500 trading platform is fully compatible with Windows XP, Windows Vista and Windows 7 and comes in three different formats: a downloadable version which can be downloaded directly to your desktop or laptop, a web based version, which allows you to log on to any computer and access your trading account, and a mobile trading interface that can be accessed on cell phones…iPhone, iPad, android tablet and mobile.
The chief advantage of the Plus500 trading platform — besides its ease of use — consists in the fact that the trading screen is all inclusive with clearly labeled tabs on top for details on past trades and current positions. In addition, the multi asset trading platform includes menus for commodities, stocks, indexes, ETFs and CFDs as well as standard forex real time quotes.
Charts for the different trading vehicles appear individually, since the software does not allow for multiple graphs on one screen. Nevertheless, most new traders do not generally use more than one chart at a time.
The Plus500 trading platform maintains consistency in its presentation and looks the same in all three versions, making it easier for the trader to input and execute trades from any machine or cell phone. Nevertheless, Plus500 does not offer support for MetaTrader 4 or any other third party trading platform.
Deposits and Withdrawals
Deposits to fund an account at Plus500 are accepted through Visa or MasterCard, MoneyBookers, or through a wire transfer.
The fastest way to begin trading is by depositing through a Visa or MasterCard. The customer can go to the Plus500 cashier screen, fill out the necessary credit card details and begin trading immediately.
Depositing through Moneybookers can be just as easy. The client must go to the “Funds Management” window, select Moneybookers and enter the Moneybookers e-mail address. A new window will open where the Moneybookers transfer can be confirmed.
Deposits through a wire transfer generally takes up to three days at Plus500, although the process to deposit is straightforward: in the “Funds Management” window, click on “Wire” and then click on the “Send me Wire Details” option. An e-mail from Plus500 is then sent to the client with the wiring details.
The e-mail sent from Plus500 gives their bank wiring specifics and the minimum and maximum amounts they can accept through the wire transfer, with a minimum amount of AU$500.
As per Plus500’s regulators, Plus500’s withdrawal policy requires that the customer provide a copy of a current identification document, such as a passport, driver’s license or other official photo identification before being allowed to make a withdrawal.
The client can send this information via e-mail or by uploading a pdf, tif, jpeg or doc type file with the upload function provided on the trading platform. Clients should allow up to 24 hours for the files to be reviewed. If scanning the identification document is unavailable, the client can photograph the ID with a mobile phone or digital camera instead.
Risk disclaimer: Forex trading involves substantial risk of loss and is not suitable for all investors. You may lose more than your initial investment.
Plus500 offers e-mail and fax support in multiple languages 24/7. In addition, they now offer chat in English and additional supported languages. If the chat isn’t active at a specific moment, then they can still by contacted via the Contact Us from.
However, Plus500 does not offer telephone support, which can be a disadvantage if the customer loses internet service or their computer crashes while trading.
Plus500 – Conclusion
Plus500 offers a complete online brokerage service for non U.S. traders that includes forex, commodities, stocks, CFDs and ETF execution. Their trading platform is easy to use and ideal for experienced traders and available in three different versions. In addition, the trading platform can be used to trade multiple assets, allowing the trader to consolidate all of their trading to one screen.
Another advantage of using this online broker consists of a very generous bonus program. They are: AU$30, T&Cs apply; First deposit bonus – up to AU$10000, T&Cs apply.
Plus500 could be an excellent choice for a new trader, with the ease of use of their trading platform and multi asset trading capabilities. Nevertheless, the lack of online chat or telephone support may make trading difficult in the event of an Internet disconnection.
Read more reviews of the best forex brokers
- Very low $100 initial minimum deposit
- Regulated by authorities; FCA, ASIC & CySEC
- Multi asset trading platform
- iPhone, iPad, android tablet and mobile platforms.
Your capital is at risk