Plus500 Review 2019 | Is Plus500 a Scam or Legit Forex Broker?

Read our Plus500 review to find out if Plus500 is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.3/ 5

Rating breakdown

Protection & Regulations
100% Complete (danger)
5.0/5
Trading platforms
20% Complete (danger)
1.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
Plus500
Plus500 Overview

Plus500 is an LSE listed online CFD brokerage firm that offers multiple trading instruments across commodities, currencies, cryptos, indices and shares on CFD’s, with multiple regulations and competitive charges.

# Broker's Features PLUS500 Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Plus500.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Plus500 offers Online Financial Trading and Investment Services Such as Trade over 2000 CFDs instruments on Shares, Indices, Forex, Cryptos and Commodities.

Tradable Products: Over 2,500 trading instruments are available for trading on the Plus500 trading platforms across currencies, stocks, ETF’s, indices, commodities and cryptocurrencies

Broker Type: Many types of brokers can be found in the most dynamic market in the world. Plus500 is No dealing desk.

Features: Plus500 platform has risk management features like guaranteed stop and trailing stop, alerts and push notifications and order fast order executions.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Plus500 recommended minimum capital is $100.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Plus500 is regulated by FCA, CySEC, MAS, IE, ASIC, AFSL, FMA, FSP. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: Plus500 has multiple regulations from different countries. These regulatory bodies impose stringent rules to ensure that investor funds are adequately protected. Regulation includes FCA, ASIC, CySEC and MAS

Account currencies: Next lets consider the Account currencies each broker offers. Plus500 offers Most of the currencies are being supported different account currencies for each account types.

Account Openning: Choose from 2 real account types on Plus500. Standard account minimum deposit is $100 and maximum leverage Is 1:30 with variable spreads and no commissions. Pro account leverage goes up to 1:300 and 10 transactions must have been performed per quarter over the course of one year to apply.

Plus500 offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages Available: Next lets have a look at each broker's different Language options. Plus500 offers platform is offered in 32 languages. Support is of.

Payment methods: Next lets have a look at each broker's payment options. Plus500 offers Credit Card, Skrill, PayPal, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Plus500 offers swift and secure channels for deposits and withdrawals including debit/credit cards, bank transfer and e-wallets which include Paypal and Skrill. Conversion fees are passed on to the trader and there are some charges for withdrawals

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Plus500 makes Plus500 in-house platform available to clients.

Web & Desktop Trading Platforms: Trade with Plus500’s own simple and intuitive proprietary user interface. The platform comes in 32 languages and is available as WebTrader, Windows 10 version and as an Android, iPhone or iPad app.
Mobile Trading Platforms: Plus500 offers its unique trading platform on mobile phones. The platform is available on Android, iOS and Windows phone. You can trade on the go, access push notification and manage your account

Other

Trader Education
Plus500 provides no form of Trader Education to clients. There are very few research tools on Plus500 apart from price alert notifications and an economic calendar.

Promotions
No bonuses and promotions are available as a result of regulatory restrictions.

Support
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.

Recup
Plus500 has been in the brokerage business for a decade. The trading platforms are simple, user-friendly, fast and secure. No educational materials are available, which is a huge minus.

Final Thoughts
Plus500 can be an ideal choice for less-experienced traders as the platform is straightforward to figure out and designed to making the trading experience simple throughout. That said, client education materials are mostly absent from the Plus500 offering, and the trading platforms available are very light compared to Plus500’s competitors.

Trading Experience
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

People Also Asked

Is Plus500 regulated?
Yes, Plus500 is regulated by top-tier regulators, FCA, CySEC, MAS, IE, ASIC, AFSL, FMA, FSP inclusive.
Where is Plus500 based?
Plus500 is based in Israel
How does Plus500 make money?
Plus500 charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in Plus500 account?
With Plus500 you can deposit money via the following means; Credit Card, Moneybookers, PayPal, Skrill, Wire Transfer.
How do I withdrawal in Plus500 account?
Plus500 lets you request a withdrawal of funds from your account via the following means; Credit Card, Moneybookers, PayPal, Skrill, Wire Tr.
What is the minimum deposit for Plus500?
Plus500 has $100 minimum deposit.
What are the available account base currencies with Plus500?
Plus500 trading accounts are offered in Most of the currencies are being supported. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in Plus500?
Plus500 has a maximum leverage is 1:30 for professional traders.
How do I open an account with Plus500?
Opening an account with Plus500 is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does Plus500 use MetaTrader?
Plus500 platforms: No, Plus500 do not use MetaTrader but it uses the following platforms: Plus500 in-house platform
What type of broker is Plus500?
Plus500 appears to be a No dealing desk broker which offers market access to a variety of traders.
Does Plus500 accept US clients?
No
Does Plus500 offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with Plus500: You can trade a wide variety of instruments with Plus500: Trade over 2000 CFDs instruments on Shares, Indices, Forex, Cryptos and Commodities