Plus500 Forex Broker

Quick Plus500 Review Summary Founded2008HeadquartersIsraelRegulationASIC, FSA, CySEC, FCA, FMA, MASMarket Instruments2,800 CFDs, cryptos, indices, forex, commodities, shares, ETFsDemo Account✅Leverage1:30 (retail)/1:300 (professional)EUR/USD SpreadFloating around 0.5 pipsTrading PlatformsOwn proprietary trading platform (desktop, web, and mobile)Min Deposit$/€/£100Payment MethodsVisa, MasterCard, PayPal, Skrill, Apple Pay, Google PayDeposit & Withdrawal Fee❌Inactivity FeeUp to USD 10 per month charged if not log in to your trading account for 3 monthsCustomer Support24/7Plus500 Information Plus500 is an online trading platform that offers 2,800 Contracts for Difference (CFDs) on cryptos, indices, forex, commodities, shares, and ETFs. It was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.Pros & Cons Plus500 is a good option for traders looking for a user-friendly platform to trade a wide range of markets and instruments, with competitive spreads and no commissions. However, traders who require MT4 and MT5 trading platforms, or do not want to pay for an inactivity fee may need to consider other brokers.ProsCons• Simple and easy-to-use trading platform• No support for MetaTrader platform• Commission-free trading• Limited customer support options• Tight spreads• Inactivity fee charged• Negative balance protection• Regulated by reputable financial authorities• Free demo accountsIs Plus500 Legit? Plus500 is considered legitimate as it is authorized and regulated by several top-tier financial authorities, including the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).Regulated CountryRegulated AuthorityCurrent StatusRegulated EntityLicense TypeLicense NumberASICRegulatedPLUS500AU PTY. LTD.Market Making (MM)000417727FSARegulatedPlus500JP証券株式会社Retail Forex License2007-09-30CySECRegulatedPlus500CY LtdMarket Making (MM)250/14FCARegulatedPlus500UK LtdStraight Through Processing (STP)509909FMARegulatedPLUS500AU PTY LTDStraight Through Processing (STP)486026 Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base. However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker. How are you protected? Plus500 takes several measures to ensure the safety and protection of its clients, and the fact that it is a regulated broker provides additional reassurance to clients. Here is a table outlining how Plus500 protects its clients:Protection MeasureDetailSegregated FundsClient funds are kept separate from company fundsNegative Balance ProtectionClients can't lose more than their account balanceRisk Management ToolsStop loss, limit order and other tools to help manage riskAccount VerificationRigorous account verification process to prevent fraud and unauthorized accessSSL EncryptionSecure Socket Layer (SSL) encryption used for all communication and data transferRegulatory OversightRegulated by multiple reputable financial authoritiesInvestor Compensation FundEligible clients may receive compensation in the event of insolvency or bankruptcy Our Conclusion on Plus500 Reliability: Overall, Plus500 appears to be a reliable broker with a strong emphasis on client protection. The company is regulated by multiple reputable financial authorities, has a robust risk management system in place, and offers negative balance protection to clients. Plus500 also uses encryption technology to protect clients' personal and financial information. However, it is important to note that no broker is completely risk-free, and clients should always carefully consider their investment goals and risk tolerance before trading with any broker.Market Instruments Plus500 offers 2,800 CFDs, including:Forex pairs major, minor, and exotic currency pairsStocks CFDs on stocks from various international marketsIndices CFDs on major stock indices like S&P 500, Nasdaq, FTSE 100, and moreCommodities CFDs on precious metals, energies, and agricultural productsCryptocurrencies CFDs on popular digital currencies like Bitcoin, Ethereum, Litecoin, and moreAsset ClassSupportedCFDs✔Cryptos✔Indices✔Forex✔Commodities✔Shares✔ETFs✔Bonds❌Options❌Accounts Plus500 offers two types of accounts: a live trading account and a demo account. The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,800 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread. The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.Leverage Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients. For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients. It's important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.Spreads & Commissions Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads can start from as low as 0.5 pips for major currency pairs like EUR/USD. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.Trading Platforms The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages. The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money. Overall, the Plus500 trading platform is well-designed and functional, but it may lack some of the advanced features found in other trading platforms. See the trading platform comparison table below:BrokerTrading PlatformsPlus500 WebTrader, Plus500 Windows Trader, Plus500 mobile appL2 dealer, ProRealTime, MT4, TradingViewMT4/5, XM AppMT4/5, cTrader, TradingView (Windows, Web, Android, Mac, iOS)Deposits & Withdrawals Plus500 accepts payments via Visa, MasterCard, PayPal, Skrill, Apple Pay, and Google Pay. Plus500 does not charge deposit or withdrawal fees, but some payment providers may charge transaction fees, which should be checked with the provider directly. Plus500 also requires users to withdraw funds using the same payment method that was used for depositing funds, up to the deposited amount. Any excess profits can be withdrawn using any other payment method supported by Plus500. Minimum Deposit Requirement The minimum deposit requirement for Plus500 varies depending on the jurisdiction and the account type. In general, the minimum deposit ranges from $100 to $1,000. For example, in the UK, the minimum deposit is £100. In Australia, it is AUD 100, and in the EU, it is €100. It is recommended to check the specific minimum deposit requirement for your country and account type on the Plus500 website. Plus500 minimum deposit vs other brokersBrokerMinimum Deposit$/€/£100$0$5$200Fees Plus500 charges overnight funding fees for holding positions overnight. There are no fees for deposits and withdrawals, and inactivity fees only apply after three months of inactivity. The overnight funding fee is a cost incurred for holding positions overnight and can be a credit or debit to your account depending on the direction of the position and the prevailing interest rates. The funding rate varies based on the instrument traded. It is important to note that Plus500 may also charge additional fees for certain actions like guaranteed stop-loss orders or currency conversions. Overall, while the fees for Plus500 are relatively low, traders should be aware of the potential for higher overnight funding fees, as well as any additional fees that may apply for certain actions. See the fee comparison table below:BrokerDeposit FeeWithdrawal FeeInactivity Fee❌❌$10/month if not log in to your trading account for 3 months////❌/❌❌/Education Plus500 provides rich educational resources on their website, which includes trading academy, trader's guide, beginner's guide, webinars, ebook, FAQ, and news. The educational resources cover topics such as trading basics, technical analysis, and risk management.Conclusion Overall, Plus500 is a reputable and reliable online broker that offers a user-friendly trading platform, competitive spreads, and a wide range of trading instruments. It has a strong regulatory framework and offers various measures to protect its clients. Plus500 also provides excellent customer service with 24/7 support. However, Plus500 does have some drawbacks, such as no popular MT4/5, limited contact channels and relatively high inactivity fees. In summary, Plus500 is an excellent option for beginner traders who are looking for a straightforward and easy-to-use trading platform with a low minimum deposit requirement. It is also a good choice for experienced traders who prioritize a strong regulatory framework and reliable customer service over advanced trading features.Frequently Asked Questions (FAQs)Q 1:Is Plus500 regulated?A 1:Yes. Plus500 is regulated by ASIC, FSA, CySEC, FCA, FMA, and MAS.Q 2:Does Plus500 offer demo accounts?A 2:Yes.Q 3:Does Plus500 offer industry-standard MT4 & MT5?A 3:No. Instead, Plus500 offers its own proprietary trading platform (desktop, web, and mobile).Q 4:What is the minimum deposit for Plus500?A 4:The minimum initial deposit to open an account is $/€/£100.Q 5:Is Plus500 a good broker for beginners?A 5:Yes. Plus500 is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money.