This adds a significant degree of transparency to its operations and to the company’s solvency and liquidity. This is crucial to protect the money it holds for its investors. However, investopedia.com found that when asked about the average spread on the EUR/USD and USD/JPY pair via email, Plus500 gave a strange response.

1. If you want to expand your research, and evaluate some options similar to this CFD platform, you can consult the alternatives to Plus500.
2. It’s user-friendly and efficient, allowing quick platform access.
3. Plus500 offers a range of 2,800+ financial products to trade as CFDs including forex, shares, commodities, and options.
4. Plus500 offers this incentive to lure in more first-time deposits.

Availability subject to regulations as cryptocurrencies are not available to retail clients in the UK. Plus500UK hold client funds in segregated bank accounts according to the Financial Conduct Authority’s client money protection rules. These means that funds cannot be used for any other purpose by the company such as hedging, speculation or running costs. Plus500 levies a currency conversion fee of up to 0.70% on realized profits and losses. For example, if you have the US Dollar as your account base currency and make trades in Euro-denominated assets, Plus500 will charge a currency conversion fee.

Plus500 Review: Pros and Cons Uncovered 2024

There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Opening an Account, Deposits, and Withdrawals

Clients can choose from more than 2,000 instruments, analyze their selection on a customizable technical analysis chart, and place their trade in just a few clicks, all within the same window. Advanced traders who rely on incorporating third-party analytical and automation tools in their trading process will be disappointed as none of these tools can be integrated directly. Plus500 has expanded its client sentiment data offering with the launch of advanced sentiment features from Trading Central and FactSet, and Plus500’s promising new +Insights module. This new tool delivers advanced insights into the activity of Plus500 traders and a range of statistics related to its trader base. Plus500’s simplified trading platform attracts beginners looking for a user-friendly experience and delivers a growing selection of educational content. While strides continue to be made, Plus500’s narrow selection of market research will leave active traders wanting more.

Plus500 delivers an average spread of 0.8 (August 2021) when trading the EUR/USD within a standard account. The all-in cost of trading the EUR/USD with an active account is N/A. We were able to obtain average spread data for over 30 brokers, and found the industry averages for these data points to be 1.04 (standard) and 0.87 (all-in). We were disappointed to find that there was no real education section and a little let down by the live chat support. While we did receive answers to our questions once connected, the live chat representatives seem very slow in terms of responding to queries.

The trading platform handles all financial transactions, where the options are limited to five, and availability dependent on geographic location. Plus500 does not charge deposit or withdrawal costs but a currency conversions fee of 0.70% applies where necessary. Third-party payment processor costs also exist, and I recommend traders check them. Another way to minimize costs is to avoid small or frequent withdrawals.

John Bringans is the Senior Editor of BrokerNotes.co and ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Here’s how Plus500 fares in providing clients with the most common types of educational content. In line with financial regulations, you’ll have to prove your identity and provide the necessary tax information if you want to trade for real money at Plus500.

Account Minimum

Not providing MT4 as an alternate platform, and no auto-trading make this broker unsuitable for technically oriented traders. Furthermore, Plus500 is not the most beginner friendly place to trade due the complexity and risk of CFD trading. However, experienced investors who prefer to enter and exit their trades manually may find the functionality trade-off worth the lower expenses. Plus500 has very little to offer when it comes to research, analysis, tools and commentary.

Is Plus500 real money?

The upside is that you will know your maximum loss in advance. Second, although it is not available for all instruments, guaranteed stops can be set only before opening your position, never after placing your trade. Spreads at Plus500 are variable since they depend on the trading instrument and they are constantly adjusted according to the market spread.

It can display charts in multiple timeframes from tick to weekly and in multiple chart styles from candles to bars and lines. Most of the common technical indictors are available such as Bollinger Bands, moving averages, MACD, RSI, etc. There are drawing tools for marking support and resistance levels, plotting Fibonacci retracements and more.

That said, the company offers a wide range of trading products that customers might find useful. Plus500 is an excellent choice for forex traders due to its fixed spreads, low fees, and negative balance protection. Plus500 is still offering a wide range of trading products as of January 2024. The most appealing feature of Plus500’s WebTrader and other versions of their platform is that it’s easy to use with layouts that will feel familiar to experienced traders.

Inactivity Fee

Overall, Plus500’s unique features provide traders with valuable tools and insights that can aid in making informed trading decisions. Plus500 charges a currency conversion fee when trading instruments denominated in a currency different from the trader’s account currency. plus500 canada Plus500 expands its market horizon with the Plus500 Securities platform, catering to the Japanese market. This platform offers a wide variety of currency pairs, ranging from major currencies to exotic currencies, providing diverse opportunities for forex trading.

There’s no fees to open an account, deposit money or withdraw money. If you want to trade foreign stocks, you might pay a currency conversion fee (we’ll cover that below too). With data powered by Dow Jones, the economic calendar can be used as part of a fundamental analysis. It keeps you up to date with the latest market news events with a rating on the impact each event can have from low, medium to high. You can see the name of the release, country, related instruments, date and time, level of impact and the actual/previous/forecasted result. The calendar can also be switched to display corporate events which is a useful feature not offered by many other brokers.

There’s a wide range of investment options with Plus500, in fact, there’s over 2,800 different (CFD) investments to trade. These cover a range of different investment types (asset classes), such as stocks and shares, ETFs, commodities and foreign exchange (forex). Overall, it’s one of the best trading platforms out there, and has great features for both beginners and professional traders. The platform itself is user friendly, and straightforward to pick up and learn – you’ll be trading in time. There’s also a demo account, so you can start without using your own cash, and a trading academy to learn everything you need to as you go. The trading platform itself (the software you use to trade (buy and sell)) is excellent.

Plus500 reviews show that every Bonus Code grants more capital linked to TraderPoints (TPoints), which can be converted into cash that can be withdrawn. The amount of TPoints earned for trading CFDs or others depends on the asset and the volume traded. A chart is available on the website showing details of the table taking part in the promotion. The other three tiers are GOLD, PLATINUM, and DIAMOND, and the basic deposits required are A$/S$7,500, A$/S$15,000, and A$/S$75,000, respectively.