menu

Best Overall

Copy Trading Brokers

MetaTrader Brokers

ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

Plus500 Review

Steven Hatzakis

Steven Hatzakis | July 15th, 2019

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

The ForexBrokers.com Annual Review (3 years running) is among the most cited in the industry. Our Head of Research, Steven Hatzakis, is frequently referenced as a leading analyst covering forex brokers and cryptocurrency. Learn more.

Founded in 2008, Plus500 is publicly traded on the London Stock Exchange’s (LSE:PLUS) and is part of the FTSE 250 Index. The broker serves forex and CFD traders through its regulated subsidiaries that are licensed in major financial hubs including the United Kingdom, Australia, New Zealand, Israel, and Singapore.

Plus500 offers over 2,000 tradable products, including forex pairs and CFDs on shares, indices, commodities, ETFs, options, and digital assets. For trading its product offering, clients at Plus500 can choose between desktop, mobile, and web-based trading platforms.

Review Summary

Rank: 26th (of 28)

While Plus500 is a trusted global brand that offers an easy-to-use platform, it lacks research, trading tools, phone support, and educational resources desired by both casual and active traders.

Benefits

  • 2,000 products to trade across global markets, including cryptocurrency CFDs.
  • Offers guaranteed stop-loss orders for an extra premium.
  • Licensed in several regulatory hubs, and publicly listed.

Considerations

  • Lack of educational content and news headlines.
  • No phone support offered.
  • Few advanced features or tools available.

Is Plus500 Safe?

help 90
Trust Score

Plus500 is considered low-risk, with an overall Trust Score of 90 out of 99. Plus500 is publicly traded, does not operate a bank, and is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Plus500 is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

FeaturePlus500IGSaxo BankCMC Markets
Year Founded2008197419921989
Publicly Traded (Listed) Yes Yes No Yes
Bank No Yes Yes No
Tier-1 Licenses2664
Tier-2 Licenses2412
Tier-3 Licenses0000
Trust Score90999898

Tier-1 Licenses

Tier-1 licenses are deemed high-trust and are only given to the top regulators. We would not hesitate to open an account with brokers with these licenses.

FeaturePlus500IGSaxo BankCMC Markets
ASIC Authorised (Australia) Yes Yes Yes Yes
IIROC Authorised (Canada) No No No Yes
SFC Authorised (Hong Kong) No No Yes No
FSA Authorised (Japan) No Yes Yes No
MAS Authorised (Singapore) Yes Yes Yes Yes
FINMA Authorised (Switzerland) No Yes Yes No
FCA Authorised (UK) Yes Yes Yes Yes
CFTC Registered (USA) No Yes No No

Tier-2 Licenses

Tier-2 licenses are deemed average-trust. We consider these safe but would give some consideration before opening an account with a broker that only has this tier of license.

FeaturePlus500IGSaxo BankCMC Markets
CBRC Authorised (China) No No No Yes
CySEC Authorised (Cyprus) Yes No Yes No
ISA Authorised (Israel) Yes No No No
FMA Authorised (New Zealand) Yes Yes No Yes
CBR Authorised (Russia) No No No No
FSB Authorised (South Africa) No Yes Yes No
SEC Authorised (Thailand) No No No No
DFSA / Central Bank Authorised (UAE) No Yes Yes No

Tier-3 Licenses

Tier-3 licenses are deemed low-trust. We recommend carefully considering other options before opening an account with a broker that only has this tier of license. We recommend opening an account with brokers that have higher-trust licenses, if available.

FeaturePlus500IGSaxo BankCMC Markets
FSC Authorised (British Virgin Islands) No No No No
FSC Authorised (Mauritius) No No No No
Offshore Authorised No No No No

Offering of Investments

Rank: 12th (of 28)

The following table summarizes the different investment products available to Plus500 clients.

Offering Comparison

Plus500 offers 60 currency pairs and over 2,000 CFDs, which is slightly above average than most forex brokers.

FeaturePlus500IGSaxo BankCMC Markets
Forex: Spot Trading Yes Yes Yes Yes
Currency Pairs (Total Forex pairs)6091182183
CFDs - Total Offered204515000329999959
Cryptocurrency traded as actual No No No No
Cryptocurrency traded as CFD Yes Yes No Yes
Offering of Investments 3.5 Stars 4.5 Stars 4.5 Stars 4 Stars

Plus500 offers most major currency pairs but does not offer GBP/USD or NZD/USD.

FeaturePlus500IGSaxo BankCMC Markets
GBPUSD (or USDGBP) No Yes Yes Yes
USDJPY (or JPYUSD) Yes Yes Yes Yes
EURUSD (or USDEUR) Yes Yes Yes Yes
USDCHF (or CHFUSD) Yes Yes Yes Yes
USDCAD (or CADUSD) Yes Yes Yes Yes
NZDUSD (or USDNZD) No Yes Yes Yes
AUDUSD (or USDAUD) Yes Yes Yes Yes
USDCNH (or CNHUSD) Yes Yes Yes Yes
USDSGD (or SGDUSD) Yes Yes Yes Yes

Commissions & Fees

Rank: 16th (of 28)

Plus500 appears to offer competitive spreads on most of its major forex pairs, while minor pairs are a mixed bag.

Benefits

  • Some forex pairs had spreads that were priced competitively, while spreads on other pairs were not discounted as much. For example, in August 2018 the USD/CAD seemed to be priced competitively at Plus500 with an observed spread of 1.3 pips. Meanwhile, other pairs offered, such as the USD/CHF and NZD/USD, had higher spreads than some competitors, with the spread on USD/CHF at 4 pips, and NZD/USD at 3.6 pips.

Considerations

  • On the EUR/USD, the spread in the platform was listed as fixed at 0.00006 which is 0.6 pips, yet it is important to note that while fixed spreads are not variable, they are subject to adjustments. During the month of August 2018, the average spread from Plus500 for the EUR/USD was 0.6 pips.
  • Because Plus500 doesn’t publish “average” spreads, which can help traders get an idea of what spreads are like at a broker, it is difficult to compare Plus500’s prices to other firms at any given time.

Gallery

Further Reading

Fees Comparison

Plus500 has a minimum deposit of €100 and does not give discounts to active traders/VIP clients.

FeaturePlus500IGSaxo BankCMC Markets
Minimum Initial Deposit€100£250.00$2,000.00$0.00
Average Spread EUR/USD - Standard0.6000.7500.9000.744
All-in Cost EUR/USD - ActiveN/A0.3630.6000.744
Active Trader or VIP Discounts No Yes Yes Yes
Commissions & Fees 4 Stars 4.5 Stars 4.5 Stars 5 Stars

Plus500 offers most of the popular banking methods, with the exception UnionPay.

FeaturePlus500IGSaxo BankCMC Markets
Bank Wire (Deposit/Withdraw)1.001.001.001.00
Visa/Mastercard (Credit/Debit)1.001.001.001.00
PayPal (Deposit/Withdraw)1.001.000.001.00
Skrill (Deposit/Withdraw)1.000.000.000.00
UnionPay (Deposit/Withdraw)0.000.000.000.00

Platforms & Tools

Rank: 25th (of 28)

Available for desktop, web, and mobile, the Plus500 platform can be a great choice for casual investors due to its ease of use; however, the platform offers only the essential basic tools required for trading.

Benefits

  • If you have never traded before, the Plus500 desktop platform could be a place to start before graduating to a more advanced platform. Both the desktop and web-based versions of the platform are cleanly designed and focus on simplicity.
  • Charting offers over 100 optional technical indicators alongside the ability to save chart templates.

Considerations

  • MetaTrader is not offered as an alternative platform option.
  • Plus500 is not built for active traders and the range of research and trading tools trails most other multi asset brokers.

Gallery

Further Reading

Tools Comparison

Plus500 does not offer MetaTrader 4 or 5 as an alternative platform to its own in-house platform.

FeaturePlus500IGSaxo BankCMC Markets
Proprietary Platform Yes Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes Yes
Web Platform Yes Yes Yes Yes
Social Trading / Copy-Trading No Yes Yes Yes
MetaTrader 4 (MT4) No Yes No Yes
MetaTrader 5 (MT5) No No No No
cTrader No No No No

Plus500 offers plenty of charting indicators but not drawing tools.

FeaturePlus500IGSaxo BankCMC Markets
Virtual Trading (Demo) Yes Yes Yes Yes
Alerts - Basic Fields Yes Yes Yes Yes
Watchlists - Total Fields1012128
Charting - Indicators / Studies (Total)103224781
Charting - Drawing Tools (Total)0171724
Charting - Trade From Chart No Yes Yes Yes
Charting - Drawings Autosave No No Yes Yes
Order Type - Trailing Stop Yes Yes Yes Yes

Research

Rank: 26th (of 28)

As far as forex and CFDs research goes, Plus500 leaves much to be desired.

Benefits

  • None.

Considerations

  • It was surprising to see there is no research shown within the Plus500 demo in terms of any top-tier news headlines from providers such as Dow Jones, Reuters, Bloomberg, or even technical-related analysis content from the broker itself or third-party sources.
  • While Plus500 offers an economic calendar powered by Dow Jones on its website, no economic calendar can be found on its platform, which is off given economic calendars are industry standard tools.
  • Plus500 does link to Yahoo Finance in the information section of each instrument or to the underlying futures index that a CFD aims to track. Also, the notification center displays headlines, but these are far and few in between and simply redirects back to the instrument instead of a news story.

Gallery

Further Reading

Research Comparison

Plus500 does not offer basic research options that top competitors all provide such as daily market commentary, forex news, or weekly webinars.

FeaturePlus500IGSaxo BankCMC Markets
Daily Market Commentary No Yes Yes Yes
Forex News (Top-Tier Sources) No Yes Yes Yes
Weekly Webinars No Yes Yes Yes
AutoChartist No Yes Yes No
Trading Central (Recognia) No No No Yes
Delkos Research No No No No
Social Trading / Copy-Trading No Yes Yes Yes
Social Sentiment - Currency Pairs No Yes Yes Yes
Economic Calendar Yes Yes Yes Yes
Research 2.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars

Mobile Trading

Rank: 20th (of 28)

The Plus500 mobile app is similar to the web and desktop versions, with a consistent look and feel and a simple design and platform layout.

Benefits

  • Consistent with the desktop and web platform, Plus500 keeps the mobile app light and easy-to-use by focusing on watch lists, alerts, and trading.
  • Charts come with 18 indicators and no drawing tools. One nice feature is that any indicators added to a chart are automatically saved as the default, allowing for efficient analysis across multiple instruments.

Considerations

  • The mobile app has plenty of room for improvement in terms of the number of features, as news, research, and drawing tools for the charts are all not offered. Overall, the app lacks the advanced tools and all-around functionality to challenge industry leaders.

Gallery

Further Reading

Mobile Apps Comparison

Plus500 offers apps for both Android and Apple devices.

FeaturePlus500IGSaxo BankCMC Markets
Android App Yes Yes Yes Yes
Apple iOS App Yes Yes Yes Yes
Trading - Forex Yes Yes Yes Yes
Trading - CFDs Yes Yes Yes Yes
Alerts - Basic Fields Yes Yes Yes Yes

The Plus500 mobile app includes 18 charting indicators but does not include charting trend lines or drawings.

FeaturePlus500IGSaxo BankCMC Markets
Watch List Yes Yes Yes Yes
Watch List Syncing Yes Yes Yes Yes
Charting - Indicators / Studies18264123
Charting - Draw Trend Lines No Yes Yes Yes
Charting - Trend Lines Moveable No Yes Yes Yes
Charting - Multiple Time Frames Yes Yes Yes Yes
Charting - Drawings Autosave No Yes Yes Yes
Forex Calendar No Yes Yes Yes

Final Thoughts

Rank: 26th (of 28)

Plus500 can be a good choice for less experienced traders as the platform is very easy to figure out and its design is centered on making the trading experience simple throughout.

That said, client education materials are largely absent from the Plus500 offering, and the trading platforms available are very light compared to Plus500’s competitors.

Considering the range of tradeable instruments, with over 2,000 CFDs available, including nearly 60 forex pairs, together with a low minimum deposit to open a live account, Plus500 provides new market entrants an easy way to test the world of online forex and CFDs trading.

For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers. Each FX broker was graded on 81 variables. How we test.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.


Steven Hatzakis

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

arrow_drop_upBack to top