Spreads & Commissions8/10
- An EU MiFID compliant broker that is regulated by the ASIC, the CySEC, and the FCA
- Choice of over 2000 financial instruments through a multi-asset platform
- Complete mobile access with dedicated apps
- Offers 24X7 customer service through email, phone, and live chat
- Trading accounts are available from just $100
- The spreads are slightly expensive
- No direct market access account
- Limitations on scalping and other high-frequency trading strategies
Read Our Plus500 Broker Review Before Opening An FX & CFD Trading Account
Plus500 has asserted its authority in the market by consistently revamping its services to meet the rising demands of investors in the financial industry. Plus500 does not believe in making any radical changes, but the company refines its brokerage portfolio by understanding its customers’ needs and developing a product that works. While it is true that companies are having a hard time in generating profits in the highly competitive markets, Plus500 is one of the very few that actually follows a regulated framework and manages to turn up a profit.
Plus500 may be an excellent option for retail traders, but it is essential for traders to have exclusive information about a broker before investing. We realise that no two traders can have the same trading experience, which is why our detailed Plus 500 review has been compiled to address all major concerns and trading features that are important from a trader’s perspective.
Branches, Security Of Funds, & Plus500 Regulation
Brokers normally set up their representative branches and headquarters in tax havens, mainly for two reasons. The first reason is the lack of strict regulatory supervision, and the second one is that tax havens have little to no taxation on income, thereby helping the companies to save money and improve their bottom line. It is also generally easier to set up a company in a lesser-known country, along with benefits of low set up and operational costs.
However, occasionally, some brokers take it upon themselves to improve their credibility by offering personalised services to traders across the globe through a local office in some of the renowned broker destinations in the world. Plus500 is one such company that has set up offices in different parts of the world, mainly in the UK, Cyprus, and Australia. Plus500 is especially popular for its European location, where the company has two regulatory licenses, each issued by the Cyprus Securities and Exchange Commission (CySEC), and the Financial Conduct Authority of the UK (FCA).
Traders and investors from Europe are protected by the highly efficient regulatory framework of the European Markets in Financial Instruments Derivatives (MiFID), which stipulate several minimum capital requirements, broker operational standards, and other laws that help in improving the transparency of brokers. Other financial safeguards such as segregation of clients’ funds, routine audits, and investor compensation programs provide additional security of funds. The Investor Compensation Fund (ICF) offered by the CySEC and the Financial Services Compensation Scheme offered by the FCA, provide a compensation guarantee of up to €20,000 and £50,000 respectively, in the event of broker insolvency.
Plus500 has also set up a branch in Australia that has an Australian Financial Services License under the regulatory governance of the Australian Securities and Investments Commission (ASIC). Plus500’s AFSL license grants the broker flexibility to cater to the Asia-Pacific market, but the company still does not have the sufficient regulatory clearances to operate in countries such as the USA, Japan, and Canada. Nevertheless, Plus500 is indeed a secure and reliable brokerage, with several unique advantages to its name.
List Of Plus500 Assets
Plu500 is a multi-asset brokerage that offers access to an elaborate list of more than 2000 financial instruments. Plus500 has coverage for the entire global market, ensuring that traders can access any asset that they prefer.
Forex: USD/ZAR, EUR/USD, USD/JPY, U.S. Dollar Index, GBP/USD, GBP/JPY, NZD/USD, EUR/JPY, AUD/USD, EUR/GBP, USD/CAD, USD/CHF, GBP/AUD, EUR/AUD, EUR/NZD, GBP/CAD, AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/SGD, CAD/CHF, CAD/JPY, CHF/DKK, CHF/JPY, CHF/NOK, CHF/SEK, DKK/NOK, EUR/CAD, EUR/CHF, EUR/CZK, EUR/HUF, EUR/MXN, EUR/NOK, EUR/PLN, EUR/SEK, EUR/SGD, EUR/TRY, GBP/CHF, GBP/DKK, GBP/NOK, GBP/NZD, GBP/SEK, GBP/ZAR, NZD/CHF, NZD/JPY, SEK/NOK, USD/CNH, USD/CZK, USD/DKK, USD/HKD, USD/HRK, USD/HUF, USD/MXN, USD/NOK, USD/PLN, USD/RON, USD/RUB, USD/SEK, USD/SGD, USD/TRY
Commodities: Oil, Gold, Natural Gas, Copper, Silver, Palladium, Platinum, Heating Oil, Cotton, Wheat, Brent Oil, Sugar, Gasoline, Coffee, Corn, Soybeans, Cocoa
Crypto: Bitcoin, Bitcoin Cash, Ethereum, Monero, Ripple, Litecoin, Dash, NEO
ETFs: iShares Silver, USO-Oil Fund, UNG-Gas Fund, OIH-Oil Service, GLD Gold, Commodity Index Fund, ETFS Gold, VXX Volatility, GDX, iShares R2000, SPY, EDC, XLV, VWO, SPXL, VNQ, TNA, iShares China, XLU, SPXU, QQQ, IWO, VTI, iShares Korea, iShares EEM, QLD, EWZ, iShares Japan, TLT, IYR, DIA, iShares UK 100, SPDR ASX 50, TBT, XLK, iShares EU50, HYG, EFA, QID, IWN, LQD, FXE, TZA, IJR, FAZ, SDS, TWM, XOP, XME, iShares DAX, ERX, RSX, Lyxor CAC, XLB, ACWI, XLE, iShares AEX, EWW, EWH, MDY, XLF, IWF, SSO, SPDR ASX 200, SH, JNK, BND, XLY, AGQ, VGK, EWT, DVY, SPDR EURO 50, FAS, XLP, XRT, XHB, XLI, UPRO, IAU
Options: Germany 30, France 40, UK 100, Netherlands 25, USA 500, Italy 40, Alphabet, Facebook, Apple, Hong Kong, DeutscheBank, Snap
Indices: USA 30, UK 100, Germany 30, ASX 200, Hong Kong 50, Netherlands 25, France 40, Swiss 20, USA 2000, Europe 50, US-TECH 100, Spain 35, USA 500, Austria 20, Japan 225, Italy 40, Greece 20, Denmark 20, Poland 20, Germany MCap, Hungary 12, Norway 25, Sweden 30
Plus500 does not limit the number of instruments to just Forex, commodities, cryptocurrencies, ETFs, indices, and options, as the broker also provides access to almost all the popular shares from countries such as USA, UK, Germany, France, Italy, Ireland, Hong Kong, Denmark, Holland, Poland, Finland, Belgium, Sweden, Switzerland, Japan, Portugal, Greece, Australia, Spain, Norway, and Austria. Choosing from over 2000 different financial instruments can be an improbable task for novice traders; hence, if you are at the beginning stages of your trading career, it may be wise to stick to the tried and tested assets from the list.
The strong regulatory intervention from the CySEC and other leading regulators from the EU has forced Plus500, along with other regulated brokers, into withdrawing their bonus programs. Of course, international traders are not bound by any such regulations, but the broker has followed the same strategy as adopted by other similar brokers in the market. The company has chosen to avoid the concept of providing bonuses to any of its traders, but if a trader is willing to negotiate with their account manager, there may be a 30% bonus on offer for your first deposit. Of course, the deposit bonus is highly reserved, and there are no guarantees that you may be able to receive a bonus from the broker.
Plus500 Trading Platform For Multi-Asset Trading
A major percentage of traders are familiar with some of the leading third-party platforms such as the MT4, the MT5, and the cTrader, which may present a slight concern for Plus500. Although Plus500 has been consistent in its brokerage services by offering a proprietary trading platform for trading all the assets on offer, we are not sure how it would be able to keep up with the ever-increasing competition from third-party platform developers. The proprietary Plus500 WebTrader platform had certainly seen numerous improvements since 2008 when the company launched its brokerage, but it may not be as efficient as the other more established platforms in the market. Regardless, one of the brilliant advantages of the Plus500 trading interface is that it offers a multi-asset platform that offers all the essential trading tools, charting options, and trading flexibility as one would expect from a mainstream Forex and CFD broker.
Plus500 Mobile Trading
Every major financial broker has a dedicated mobile trading app for Android, iOS, and Windows operating systems, which ensures complete mobile access for smartphones and tablets. Plus500 has a dedicated mobile trading platform for each of these platforms, and users can download the Plus500 apps for free from the Apple App Store, the Android Store, and the Windows Store. The Plus500 mobile app follows on from the same theme adopted by its desktop counterpart, which facilitates access to the same list of tradable instruments, trading features, and charting tools.
Plus500 Minimum Deposit, Spreads, & Leverage
Plus500 is a CFD broker that operates with an internal dealing desk for offering more than 2000 financial instruments through the broker’s trading platform. The market maker account is not what one would normally prefer, as ECN brokers offer direct market access to liquidity providers for the best trading conditions. Nevertheless, the Plus500 account offers competitive trading conditions, where the Plus500 minimum deposit is just $100. For $100, you get access to some of the largest collection of financial instruments, an amazing array of technical tools, and access to a regulated brokerage that guarantees the safety of your funds.
However, the drawbacks of a market maker become evident by the slightly higher Plus500 spreads, which starts at 2 pips for the major currency pairs. A few leading brokers have resorted to using a hybrid of market maker and direct market access accounts to offer competitive spreads, which may make more sense for traders, but the chief attraction of Plus500 is that their instruments portfolio and overall cost of trading are competitive than most financial companies.
Traders may also have to make a few compromises while trading on margin, as the Plus500 leverage is minimised to a maximum of 1:300. The leverage is further reduced for stocks, with the company specifying all contract specifications on its instruments page. The trading conditions may change according to the market variations, and it is imperative for traders to browse through the broker’s resources before investing in an asset.
Accessing Plus500 Customer Support Departments
Plus500 traders can contact the broker throughout a trading day, which gives access to the 24X7 customer service channel through online/live chat, web contact form, and email. The web contact form and email correspondences have longer response times and are only more suitable for detailed resolutions or lengthy complaint redressals. For most traders, the live chat feature should be largely sufficient for most trader concerns.
Plus500 offers a CFD trading account through a multi-asset platform, but the broker has a highly regulated background that ensures a high degree of reliability and security for traders’ investments.
Can Plus500 Offer Security For My Investments?
Plus500 is a regulated company and segregates clients’ funds in separate accounts at top banks in the world. The company also undergoes routine auditing for ensuring 100% financial transparency.
How Much Should I Invest For A Trading Account?
Traders will be required to deposit at least $100 for a trading account.
Can I Receive A Plus500 Bonus?
Unfortunately, Plus500 does not provide extensive bonuses to its traders and is highly reserved.