Generally, maximum leverage obtainable is 1:30. Higher leverage is only for Professional account holders on some instruments.
Commissions & Spreads
“Tight spreads and no trading commissions.”
Plus500 features both fixed and dynamic spreads and do not charge commissions at all. Comprehensive information on spreads is not given. Here are the spreads on some selected instruments:
* The figures are according to the broker’s website at the time of writing this review
Bonus & Promotions
“No bonuses and promotions are available as a result of regulatory restrictions.”
There are no bonuses given to clients by Plus500. Also, there are no promotions or contests offered.
“Dedicated and Multilingual Customer Support available 24/7 through Live Chat, Contact form and a variety of social channels. Customer support is helpful and fast to respond.”
The Customer support on Plus500 is available in multiple languages. The website is available in 32 languages. There is no phone support. The support is available on a 24/7 basis. The channels are:
- Live chat: This is available round the clock.
- “Write to Us” form is available on the website for support especially for enquirers.
- Social Media: Facebook.com/Plus500; twitter.com/Plus500; Instagram.com/Plus500 and plus.google.com/Plus500
The web chat assistants are very fast and efficient as it took just 15 seconds to respond to chats.
The social media channels are also active as updates are posted periodically. But there are not much responses or comments by clients on these channels. However support on these channels is fast and normally replied within a few hours.
“There are very few research tools on Plus500 apart from price alert notifications and an economic calendar.”
The platform provides charting tools though not as exhaustive as that of the MT4 and MT5 platforms. There is a comprehensive economic calendar on the website and portal. But, there are no market news or daily technical analysis. There are push notifications, real time emails and SMS market updates though.
“ Plus500 provides no form of Trader Education to clients. “
Unfortunately, the Plus500 website has no training videos, eBooks, training articles, webinars or any form of Educational material at all.
“Plus500 simple platform provides a good experience for users. A huge selection of assets to trade, the platform comes with risk management tools and trading alerts are sent to the smartphone and by email“
The Plus500 trading service is good for simple traders who like take advantage of low charges and multiple trading instruments.
For expert traders who use complex charts, indicators, Expert Advisors etc; Plus500 will definitely not serve them well.
The offering is simple, however it does account for risk management tools and trading alerts are sent out each day by SMS and email.
- UK’s No.1 CFD Broker by Investment Trends* – for the second year in a row.
*By total number of relationships with UK CFD traders. Investment Trends 2019 UK Leverage Trading Report.
- “Germany’s No. 1 CFD Broker”** and “Spain’s No. 1 CFD Platform/Provider”
**By a total number of client relationships. Investment Trends 2018 Germany and Spain CFD & FX Report
Where is Plus500 based?
The Headquarters is in Israel but it operates through four subsidiaries in UK, Singapore, Australia and Cyprus.
How does Plus500 make money?
Plus500 makes money from spread charges. They do not charge commissions.
How do I deposit in Plus500 account?
Deposits can be made using bank wire transfer, Credit/debit cards (VISA, MasterCard), Paypal and Skrill.
What is the min. deposit for Plus500?
The minimum deposit required is $100.
What is the max leverage in Plus500?
The maximum leverage is 1:30 for the standard account; however the Professional accounts get a leverage of up to 1:300
How do I open an account with Plus500?
Click on “Start trading Now” button found at the bottom of every page on their website. Fill the online form or sign in with Google or facebook.
Does Plus500 use MetaTrader?
No, Plus500 only have their proprietary trading platform.
Plus500 has been in the brokerage business for a decade. They boast of 317,000 clients from all over the world. They are properly regulated in four different countries including Australia, UK and Cyprus. The trading platforms are simple, user-friendly, fast and secure. Platforms that can be used across multiple devices and operating systems are available for trading in various situations.
No educational materials are available, which is a huge minus. Furthermore, no research materials (else then the economic calendar) or technical analysis is provided.
Some features of trading with Plus500 include:
- Leveraged trading of over 2500 financial instruments, including forex, commodities, indices, shares, options and cryptocurrencies.
- Multiple licensing and regulation in different countries.
- Tight spreads and zero trading commissions.
- Advanced risk management tools, which includes guaranteed stop and trailing stop orders.
- Dedicated multilingual customer support which is available 24/7.