Introduction or Skip Content and Read the Bottom Line!
Plus500 was established in 2008 and is one of the most popular brokerage firms today that are offering CFD trading services. They also developed their own platform which is a bold move since most brokers utilize the standard MetaTrader 4 or 5. Impressive but is this the better option?
Be sure to read this detailed review to know our findings.
|Platform||Windows Trader, WebTrader, Windows 10, Android App, Windows Phone App, iPhone App/iPad App/Apple Watch App|
|Minimum account size||$100|
|Maximum leverage||1:30 (under FCA, ASIC & CySEC), 1:300 (under FSA)|
|Spread on EUR/USD||Dynamic|
|Payment methods||Visa/MasterCard, Skrill, Wire Transfer, PayPal|
|Demo account||Unlimited time|
|Accepts USA traders||No|
|Regulated||FCA(UK), ASIC(Australia), CySEC(Cyprus), FSA(Seychelles)|
|Support||Email, Live Chat, WhatsApp|
You only need to provide an email and a password of your choice to open an account with Plus500. It’s that simple.
After submitting these details, you’re already signed-up and you just need to complete the registration process later on. Be sure to finish this though so you can authenticate your account.
Want to register now with Plus500? You can click on the button below and we’ll take you straight to the sign-up page:
Account Types 8/10
There are no account types in Plus500. Whatever amount you deposited, you’ll still enjoy the same features that other traders are also able to access and utilize. Regardless if you want to start with a low or high capital, there will be no changes on your account.
Demo Account 10/10
If you want to see how the platform works, you can use the demo account to your advantage. It’s basically the same as the real money account with live prices and markets but everything is in virtual mode.
Payment Methods 10/10
Adding money into your trading account is possible via several payment methods:
- Wire Transfer
- Credit Card or Debit Card
It’s important to remember that the payment method you are using must be under your name. The name on the trading account must match the name on the deposit method that you will use.
Minimum Deposit 8/10
You only need to deposit a minimum of $100 into your account initially. This may not be the lowest but this is definitely not the highest either. And if you’re serious in trading online, this is actually a reasonable capital to start with.
According to our scoring system, Plus500’s affordable and lower-than-average minimum deposit garnered a highly recommendable score.
With Plus500’s highly customized platform, they got to receive a whopping perfect score on our chart for this criteria alone. This is due to the unique user interface and the improved design which is uniform on all their platforms.
It loads fast and doesn’t use a lot of system resources so it will not be a drag. Overall, we never encountered any bugs or issues.
Here’s how their platforms look like:
Tradable Assets 9.6/10
As of this writing, there are over 2000 assets to choose from. In comparison with other brokerages we’ve tested, this number is actually huge because their competitors usually offer around 100 to 1000 instruments only.
You can invest on forex, commodities, stocks, indices, ETFs and even cryptocurrencies.
Such gargantuan range deserves a perfect score in this category.
We’ve tested the spreads on Plus500’s platform and we found them to be very tight and that’s why we have awarded this broker with a perfect spreads score.
Quotes Accuracy 9/10
To make sure that the quotes on the platform are accurate, we’ve compared the prices displayed there and the prices from other quote providers like Yahoo Finance and Google Finance. We didn’t see any discrepancies at all.
Withdrawal Time 10/10
The standard processing time for a withdrawal request is around 3 days. It’s not the fastest but they do deliver.
We never experienced any delays on the withdrawals that we made and we were able to get our money back. That alone indicates that they mean business.
Customer Support 9.5/10
Plus500 can be contacted by email or live chat. If you have WhatsApp, you can also get in touch with them via this messaging app.
The live chat is only accessible from the platform when you are logged in. This can be found on the lower right part of the screen.
Regulation and License 10/10
Plus500 currently has a license from the following regulators:
- Plus500CY Ltd authorized & regulated by CySEC (#250/14).
- Plus500UK Ltd authorised & regulated by the FCA (#509909).
- Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).
- Plus500AU Pty Ltd (ACN 153301681), licensed by:
ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.
- Plus500SEY Ltd authorized & regulated by the Seychelles Financial Services Authority (#SD039).
Plus500’s platform is the perfect choice for traders who would like to explore various markets such as forex, crypto, stocks, indices and commodities. Their platform has the edge over other brokerages because it was developed in-house so it was optimized well.
And with more than 2000 tradable assets, you can find lots of investment opportunities. Best of all, they have a support team that is well-trained in assisting their clients.
In general, Plus500 should be on the top of your list if you’re looking for the best trading experience!