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Plus500 Review

Steven Hatzakis

By Steven Hatzakis / May 21st, 2019

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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.

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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.

Overall 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.

Trust Score

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Trust Score

Plus500

FeaturePlus500
Year Founded2008
Publicly-Traded Company (Listed) Yes
Regulated in Major Hub Yes
Regulated in Emerging Hub Yes
Authorised in the European Union 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.

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Further Reading

Plus500

FeaturePlus500
Minimum Initial Deposit€100
Average Spread EUR/USD - Standard0.600
All-in Cost EUR/USD - ActiveN/A
Active Trader or Premium/VIP No

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.

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Further Reading

Plus500

FeaturePlus500
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading No
MetaTrader 4 (MT4) No
MetaTrader 5 (MT5) No
cTrader No
Charting - Indicators / Studies (Total)103
Charting - Drawing Tools (Total)0
Charting - Trade From Chart No
Watchlists - Total Fields10
Order Type - Trailing Stop 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.

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Further Reading

Plus500

FeaturePlus500
Daily Market Commentary No
Forex News (Top-Tier Sources) No
Weekly Webinars No
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Acuity Trading No
Social Trading / Copy-Trading No
Social Sentiment - Currency Pairs No
Economic Calendar Yes

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

Plus500

FeaturePlus500
Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting - Indicators / Studies18
Charting - Draw Trend Lines No
Charting - Trend Lines Moveable No
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave No
Forex Calendar No

Offering of Investments

Rank: 12th (of 28)

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

Plus500

FeaturePlus500
Currency Pairs (Total Forex pairs)60
CFDs - Total Offered2045
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD 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).

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