Plus500 Review 2020

Plus500 is an industry leader in the CFD and forex segment. For many years this online broker has provided trading opportunities for millions of traders, from all corners of the earth.

It’s stated on Plus500’s website that their goal is to become the number 1 broker in the world. So how are they doing that and have they made any progress?

In our Plus500 review, we discuss that and everything else that you need to know before opening an account with this broker.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Risk Warning:

Your capital will be at risk when using any of the recommended platforms in this article. Never invest money you can’t afford to lose. Using a high leverage can result in losses of capital.  65-89% of retail investors lose money when trading contracts for difference (CFD). Bullmarketz may be compensated by some of the brokers listed on our website.

Is CFD Trading allowed in your country?

CFD Regulation Country by Country. The CFD trading services we are listing in this article is avalible in the following countries.

Europe:

  • Albania
  • Bosnia & Herzegovina
  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Kosovo
  • Latvia
  • Lithuania
  • Macedonia
  • Malta
  • Moldova
  • Montenegro
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Russia
  • Serbia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • Ukraine
  • United Kingdom

Excluded: Belgium

North America

  • Belize
  • Canada
  • Costa Rica
  • Cuba
  • Guatemala
  • Honduras
  • Jamaica
  • Mexico
  • Nicaragua
  • Panama
  • Puerto Rico
  • The Bahamas

Excluded: United States

South America

  • Argentina
  • Bolivia
  • Chile
  • Colombia
  • Dominican Republic
  • Ecuador
  • Guyana
  • Paraguay
  • Peru
  • Suriname
  • Uruguay
  • Venezuela

Excluded: Brazil

Africa

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cameroon
  • Central African Republic
  • Chad
  • Democratic Republic of Congo
  • Egypt
  • Eritrea
  • Ethiopia
  • Gabon
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Mauritania
  • Morocco
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Republic of the Congo
  • Rwanda
  • Sierra Leone
  • Somalia
  • South Africa
  • South Sudan
  • Sudan
  • Swaziland
  • Tanzania
  • The Ivory Coast
  • Togo
  • Tunisia
  • Tunisia
  • Uganda
  • Western Sahara
  • Zambia
  • Zimbabwe

Middle East

  • Georgia
  • Armenia
  • Azerbaijan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Cyprus
  • Israel
  • Jordan
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Qatar
  • United Arab Emirates
  • Oman
  • Yemen

Asia

  • Afghanistan
  • Bangladesh
  • Cambodia
  • China
  • China
  • India
  • Indonesia
  • Japan
  • Kazakstan
  • Kirgizistan
  • Laos
  • Malaysia
  • Mongolia
  • Myanmar
  • North Korea
  • Pakistan
  • Papua New Guinea
  • Philippines
  • Singapore
  • South Korea
  • Sri Lanka
  • Thailand
  • Turkmenistan
  • Uzbekistan
  • Vietnam

Excluded: Hong Kong

Oceania:

Tested Trading Platforms

  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPMarkets
  • AmanaCapital
  • Admiralmarkets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • FXPro
  • ForexTime
  • HYCM
  • FXGrow
  • TeleTrade
  • Trader.online
  • Marketscube
  • Finmaxbo
  • FXCC
  • Oanda
  • Forex.com
  • LCG
  • CMC Markets
  • FXCM
  • iForex
  • IFC Markets
  • Aaatrade

Our Writer

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

Plus500: The Background Story

In 2008, Plus500 was launched as a PC-only trading platform and one year later they started offering commission-free CFD trading to their customers.

It didn’t take long for the broker to start growing and three years after the launch, Plus500 already handled over 2,000,000 transactions a year, offered more than 2,000 international stocks, and launched a trading app for iOS. The same year their app first hit the shelves, it also became the highest-rated trading app in the Apple App Store.

By 2013, Plus500 had developed a trading app for Android and they became the first online broker to start offering a CFD on Bitcoin. This was also the year that Plus500 Ltd was listed on the London Stock Exchange.

During the past couple of years, Plus500 has continued to grow and, as mentioned, the broker now belongs to the absolute top tier of forex and CFD brokers.

Is Plus500 a Trustworthy Broker?

Yes, Plus500 is not only a trustworthy broker but one of the most legitimate brokers on the market.

The easiest and best way to find out whether a broker can be trusted or not is to check their licenses and see who oversees their operations. In this case, Plus500 is authorized by several of the world’s leading regulatory bodies.

Plus500 currently holds licenses from the following agencies:

  • The Financial Conduct Authority (FCA) – The UK (main license)
  • The Cyprus Securities and Exchange Commission (CySEC) – European Union
  • The Australian Securities and Investment Commission (ASIC) – Australia
  • The Monetary Authority of Singapore (MAS) – Singapore
  • The Israel Securities Authority (ISA) – Israel

There is, in other words, no reason not to trust Plus500 and their intentions. You can also use this broker knowing that it’s regularly audited and continuously evaluated by the strictest financial organizations in the world.

In addition, all these licenses also mean that Plus500 is available in most of the world, with a clear demographic in Europe, Asian, and Australia. That being said, Plus500 is not available for traders in the United States, although the company is constantly working on expanding its geographical reach.

Another great way to check a broker’s legitimacy is to see who they collaborate with, and Plus500 has partnered up with several trusted brands, including Atletico Madrid, but more about that later.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Pros and Cons with Plus500

Just because a broker has a great reputation and is regulated by the strictest regulatory bodies in the world, doesn’t mean it’s perfect. So to give you an unbiased idea of Plus500 before we get into the nitty-gritty, we’ve listed three pros and three cons with this broker.

Pros:

  • This online trading platform is operated by a well-established and reputable financial brand.
  • A large selection of assets providing many unique and interesting opportunities.
  • Plus500 is driven by innovation and is constantly being updated and adjusted to new technological advances.

Cons:

  • Limited availability, for example in North America.
  • Only one proprietary trading platform and no third-party tools or features.
  • Plus500 is not the most transparent regarding their fees and how spread is calculated, meaning inexperienced brokers could feel like they’re being kept in the dark.

Plus500 – Available Assets and Markets

Plus500 is a purebred CFD broker meaning you can’t buy securities or assets with this broker. Instead, you speculate on the price of underlying assets. In turn, this gives Plus500 the option of offering many more markets than your average stockbroker, something you can read more about in this Plus500 review.

Forex

The forex market has been one of Plus500’s main markets from the start. Today, the selection consists of more than 50 currency pairs, ranging from majors and minors to exotic pairs. In other words, there is not a well-known currency pair that you can trade.

As long as you don’t reside within the European Union, Plus500 lets you trade currencies with leverage of 1:300. Otherwise, leverage is limited to a maximum of 30:1 for certain major currency pairs, in accordance with EU regulation.

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Find the best trading platform. You capital is at risk when trading. Be careful.

CFDs: Shares, Commodities, and ETFs

The main part of Plus500’s selection is made up of CFDs on a long list of underlying assets. In fact, Plus500 has several thousand CFDs on everything from American and European stocks and indices to commodities such as gold, platinum, petrol and crude oil. You also have the option of trading exchange-traded funds (ETFs) and a range of options.

One of the benefits with a broad selection of assets like this is that you can trade around the clock since there is always a market open, whether that be the New York Stock Exchange (EST/UTC -5) or the Tokyo Stock Exchange (JST/UTC +9).

For a complete list of available assets, we suggest you visit Plus500.

Cryptocurrencies

As mentioned, in 2013, Plus500 became the first online broker to offer a CFD on bitcoin. Since then, the broker has continued to focus a lot of research and development on the cryptocurrency market, and today, they’re leading in the field.

Plus500’s cryptocurrency selection consists of more than 14 products, including Bitcoin, Ethereum, XRP, Stellar, NEO, EOS, Tron and Monero, as well as the Crypto 10 Index and several pairs (BTC/ETC, etc.).

The benefit of trading cryptocurrencies, compared to stocks or exchange-traded funds, is that they’re available around the clock, even on the weekends.

Fees, Spread and Commission

Similar to most online brokers, the lion’s share of Plus500’s revenue comes from spread, ie. the difference between the bid and ask price. Subsequently, Plus500 is a commission-free broker with minimal fees and charges.

The spread varies from asset to asset and is something you have to keep an eye on yourself when trading. At times it’s fixed but it can also fluctuate. That being said, Plus500’s spread is on average quite low.

Besides that, Plus500 does charge a few trading-related and non-trading related fees, as most brokers do.

There are, for example, an overnight fee for positions that are kept open after the related exchange or market has closed and there is an inactivity fee for accounts that aren’t used for a certain amount of time.

Luckily, there are no fees for deposits or withdrawals.

Trading with Plus500 On Your Smartphone or Computer

Plus500’s main trading platform is a web-based platform developed in-house. Its interface is easy to use with several innovative features, and it won’t take long before you get used to it.

In 2019, the platform went through a major upgrade and today it features more graphs, the option of drawing on your graphs, and other interesting tools that help you trade more efficiently. Although, unlike some third-party trading platforms such as MetaTrader 4 & 5, you can’t develop or add new tools to the platform.

For many years, Plus500 has been one of the leading mobile trading platforms on the market and this is a field where they really excel. The first app ever launched by Plus500 was an iOS app for iPhone and iPad. It has since been upgraded to also support simple features and trading on Apple Watches.

There is also an identical app for Android devices which has won multiple awards and is readily available in the Play Store.

To make things even more impressive, Plus500 is one of few CFD brokers to offer a Windows App for handheld Windows devices as well as computers running on Windows 10.

All things considered, Plus500 provides their customers with an amazing trading platform with all the tools and services you could think off, regardless of whether you trade on a mobile or a desktop.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Open an Account with Plus500

By now, it should be obvious that we recommend Plus500 to our readers. As you can see in our Plus500 review, they’re trustworthy, their fees are fair, and their selection of assets is satisfying.

If you feel like the broker could be a good fit for you, we suggest you open an account with them. The process of opening an account is simple and the same no matter where you live, as long as you live where Plus500 is available.

The first step involves providing Plus500 with account information such as name, address, email, and phone number. After doing that, you gain access to your new Plus500 account as well as the option to try their demo account which you can read more about in the section below.

For you to be able to deposit funds and start trading, you will have to verify your account. A verification process is standard in the industry and its purpose is to protect your information and funds.

This is done by providing a copy of your ID (passport or driver’s license), as well as proof of residency, for example, a recent utility bill or a bank statement. Plus500 might ask you to provide more information.

After that, you can use one of the provided payment methods – Mastercard, Visa, PayPal, Skrill or bank transfer – to fund your account.

Opening a Plus500 Demo Account

A demo account is a replica of a regular trading account but instead of trading with real money, you use virtual money. This means you can trade under real market conditions but without risk.

These types of accounts are offered by brokers to give you the option of testing the broker before signing up and depositing your own money. Moreover, demo accounts are great ways to practice and try new strategies.

Therefore, it’s something we suggest all traders open and actively uses.

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Find the best trading platform. You capital is at risk when trading. Be careful.

Plus500 as a Sports Sponsor

At the time of writing, Plus500 had several active partnerships with other brands, including two high-profile sports teams.

Plus500 & Atletico Madrid

Plus500 is the main sponsor of the Spanish football team Atletico Madrid, a team that Plus500 has been involved with since 2015.

Plus500 & Brumbies

The Brumbies is one of the top rugby teams in Australia. The sponsorship includes the Brumbies officially changing their name to the Plus500 Brumbies for the “2019 Super Rugby Australian Conference Champions”.

Final Words on Plus500

Plus500 is a leading forex and CFD broker with its roots in Israel and its main operative office in London. It’s a trustworthy broker that’s licensed by several of the world’s top financial regulatory bodies and they have a good reputation among clients and competitors.

Today, the broker has several million customers from mainly Europe and Asia and they offer the option of speculating on thousands of instruments ranging from stocks, commodities, and ETFs to currency pairs and cryptocurrencies.

Plus500 UK & EU - Scam? Mobile? Demo account? Comprehensive review. Plus500 UK & EU - Scam? Mobile? Demo account? Comprehensive review. Plus500 UK & EU - Scam? Mobile? Demo account? Comprehensive review. Plus500 UK & EU - Scam? Mobile? Demo account? Comprehensive review. Plus500 UK & EU - Scam? Mobile? Demo account? Comprehensive review.

Find the best trading platform. You capital is at risk when trading. Be careful.

COMMENTS

WORDPRESS: 97
  • comment-avatar

    I am contemplating creating a free demo account at Plus500, in the long run I would like to trade Forex and cryptocurrencies but I am taking one step at a time. My question is, does Plus500 offer the best demo or is there any other broker that would be more suitable?

    • comment-avatar

      Plus500 definitely offers one of the best demo accounts on the market, along with eToro and IQ Option. Make sure to check out these two as well. Anyway, Plus500 will give you a demo account with free access to their full platform. Try it out and let us know what you think.

  • comment-avatar

    If I place a stop loss GTC order on my shares at $180, and it reaches that price during pre-market or after hours, will my order get executed? I asked because I’ve been unable to withdraw my investments from Plus500 and no one is responding which is very crazy! How do i go about getting my money back if they are never gonna respond..

    • comment-avatar

      If the scenario was during a weekend then probably no but on a regular day after pre-market hours, the order should theoretically be executed. We hope that you have reached Plus500 by now. If not let us know and we will try to help escalate this.

  • comment-avatar

    My question is simple: Is Plus500 a scam? I see them doing marketing everywhere and they seems to be regulated but on the other hand if you read on some forums it seems that people are not really happy? I am not sure who to trust.

    • comment-avatar

      Hi,

      Is Plus500 a scam? Definitely not, in fact, they are one of the most serious brokers on the market right now, regulated by both CySEC and FCA. These are the two most serious regulators in the world. If you are trading with any broker that has a license from either CySEC och FCA then you can rest assured you are trading on fair terms.

      On top of this Plus500 is a publicly traded company with a lot to lose on being considered a scam.

      Lastly, if you read around on forums then you might see some unhappy traders that have lost money and they are calling Plus500 a scam but most of these are upset traders who have made bad investments. Rarely do these claims have any serious background and if they did they would have been reported and investigated by the regulators.

  • comment-avatar

    How can I get more information about how I deactivate my account? Not finding any information at Plus500

  • comment-avatar

    Hi,

    In order to delete or deactivate your account at Plus500 you need to email the support them. They will have to delete your account according to the new data laws rolled out 2018. You can email the customer support team here: support@plus500.com.

    // Jimmy

  • comment-avatar

    Simply one of the best brokers out there today, excellent choice, I am very happy with Plus500 and I can recommend to almost anyone. I think most people who are complaining about scam have just simply lost their investments due to poor judgment.

    • comment-avatar

      Hi,

      While we think there is some truth to people making false accusations, we also believe that everyone has the right to communicate their feelings and opinions. With that said, making false accusations is a very serious matter and can backfire. We truly hope that everyone remains truthful in this comment section.

      // BM

  • comment-avatar

    Can I invest in long term cryptos with Plus500? I am looking to place a few investments but I want to hold them for over a year, I check eToro but they have quite some fees on positions that you hold for such a long time.

  • comment-avatar

    Cmon plus500 is a pretty old broker and there is a lot of other alternatives out there today, why should I pick this broker? also, why are they not giving any bonus anymore? Seems a bit cheap no? Plus500 used to be hot a couple of years ago but now there are many new brokers out there..

    • comment-avatar

      Hi,

      Thank you for your question.

      Plus500 is indeed a broker that’s been around for quite some time, in our eyes, that’s one of their strengths. Its a broker we can fully trust. They are not offering a bonus right now because it has been prohibited by the regulators. A bonus was simply a way of luring in customers.

      Though we agree, there is a ton of good brokers out there, and there is no reason to pick Plus500 if you are interested in other products.

      // BM

  • comment-avatar
    VIANCYACERE 2 years ago

    plus500 is probaby the best broker you can use today, very trusted broker with a lot of clients and a public company.. great and free demo account as well.. I can recommend them

  • comment-avatar
    DLL88 2 years ago

    Can I trade on plus500 while trading on plus500?…. jokes aside, I think this broker is your best bet since they are a public company.. they will have a harder time to rip off their clients.. no one wants to invest in a company like that.. Plus500 seem legit in my eyes

  • comment-avatar

    Any input on other brokers? Anyone that can match Plus500?

    • comment-avatar

      Hi,

      Of the top of my head, I would recommend IQ Option, Markets.com or eToro as viable options. They are all great brokers and can match Plus500 any day of the week.

      // BM

  • Between 73-89% of retail investor accounts lose money when trading CFDs.