Want to learn more about one of the best CFD trading platforms in the world? Our Plus500 broker review will show you how this company has built up a reputation for excellence through low fees, tight spreads and hundreds of trading options.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider.
Fans of low fees, diverse options and generous trading conditions, listen up. Plus500 is one of the most popular online brokers in the business because it can be all things to all traders. For example, if you’re a professional, you can trade with higher leverage and tighter spreads on request.
You can try your hand at trading CFDs on more than 2000 instruments. In fact, if you don’t want to start trading for real money straight away, the Plus500 demo account lets you learn the ropes for free. In this Plus500 review, we’ve covered all of these important points and other things you should know if you're about to trade with Plus500 from Australia.
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Plus500 is a regulated company, and the platform is secured by SSL against hacker attacks. When it comes to making deposits and withdrawals, only reputable processors are available and all funds are stored in segregated client accounts.
This means your money is shielded from any financial issues the company might experience. Moreover, any losses that are a result of mismanagement on the part of Plus500 are insured up to the value of €85,000.
Plus500 is regulated as follows, depending on the countries it operates in:
You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.
To comply with its licencing conditions, Plus500 makes the following promises:
Plus500 is regarded as one of the leading CFD brokers in Europe for a variety of reasons. This broker provides CFD trading services on over 2,000 securities and asset classes, including forex, options, indices, ETFs, cryptocurrencies and stocks.
Plus500 has gone above and beyond to ensure you get to trade CFDs in the way you want. For example, there are 28 indices, including the UK 100, Germany 30 and USA 500. You can also trade CFDs on emerging indices like the Cannabis Stock Index.
It’s the same when you scroll through commodities. Oil, gold and natural gas stand at the top of the tree. However, there are dozens of niche options such as palladium, cotton, soybeans and feeder cattle. Finally, alongside ETFs and Options, you can scroll through lists of shares categorised by countries and sectors.
“Popular Shares” gives you a quick overview of the biggest share options in the world. However, if you want to look at companies based on their country of origin, you can click on UK, for example, and see share prices and buy/sell options for the likes of BP, Tesco, Rolls-Royce and more.
If you’re a fan of forex trading, few can match the service Plus500 offers. When you open an account, you’ll be able to trade 71 currency pairs, including all the majors. From EUR/USD and GBP/USD to CHF/JPY and AUD/CAD, all the significant currencies are covered.
In fact, they’re not only covered, they’re available at great prices. For example, EUR/USD has a spread percentage of just 0.01% and you can get leverage of 1:30. What’s more, initial margins are as low as 3.33% and it will cost just 1.67% to maintain a margin. These are generous conditions that not only make forex trading at Plus500 great for professional and experienced traders.
If you want to trade cryptocurrencies, Plus500 covers the following assets: Bitcoin, Ethereum, Litecoin, NEO, Ripple XRP, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Tron, Monero. As you can see, all the major cryptos are there, as are some of the sector’s rising stars.
That’s great, but what’s also great about crypto trading at Plus500 is the fact you can do it with leverage of 1:2. Not many online brokers provide this sort of benefit. So, this is yet another reason to try Plus500.
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. For those that prefer to practise their craft before diving into the action, you can open a demo account. These accounts let you trade for free using a virtual bankroll, and are highly recommended for novices.
If you’re 18 or older, you can open an account at Plus500, unless you live in the following countries*:
*The countries mentioned are not the only ones where Plus500 does not operate in. In case of doubts, you should contact the Plus500 Customer Support team.
Plus500 has one type of account, known as a retail account. As noted, this can be a demo account to start with. However, if you want to trade for real, you’ll need to verify your identity and make a deposit.
Professional-level traders can apply for a “pro” account if they’ve achieved a consistent level of trading volume over a 12-month period. Moreover, applicants must have a portfolio with a value of €500,000+ and an established trading background. Those with a pro account will get to trade with higher leverage. For most instruments, pro accounts can trade with leverage between 1:5 and 1:300.
Click the links on this Plus500 Review to create an account at Plus500 using our secure sign-up link. Then, follow the below steps:
Plus500 keeps its fees as low as possible. Withdrawals are free until the monthly limit is reached. When you’re depositing/withdrawing in a non-native currency, a conversion fee of up to 0.5% may be applicable. Other possible fees may apply.
This broker makes its money through spreads. This keeps the fees extremely low. In fact, Plus500 has some of the lowest trading fees in the business.
The average spread on S&P 500 shares is 0.5*. When you compare Plus500’s average cost per trade on indices to other online brokers, it’s around 20% lower than eToro, for example.
*Spread amounts are dynamic and subject to change. The amounts indicated above reflect the ones at the time of writing this review.
If you’re trading forex, major pairs such as EUR/USD have spreads as low as 0.7 pips*.
The only other fees you have to consider at Plus500 are the $10 a month inactivity charge and overnight funding fees. The latter will vary depending on the instrument you’re trading.
As we’ve noted, withdrawals at Plus500 are free until the monthly limit is reached. There are no deposit fees involved.
All payments are protected by SSL encryption and funds are stored in segregated bank accounts.
Plus500 covers all the major currencies. We spoke to a member of the support team and they were somewhat reluctant to provide a complete list. However, we know you can use GBP, USD, EUR, CAD and others. That’s impressive in its own right but, significantly, it’s more than other trading sites like eToro and XTB.
The minimum deposit at Plus500 is $100 for all methods except bank transfer which is $500.
You can make fee-free deposits of at least $100 using Visa, MasterCard, PayPal, Skrill and bank transfer ($500+).
You can withdraw a minimum of $50 without paying any fees at Plus500 (bank transfer and debit card withdrawals start at $50). Requests are typically processed within three days, which means you should receive your money within five to seven days. The withdrawal methods at Plus500 are: Visa, MasterCard, PayPal, Skrill and bank transfers.
You can trade and speak to a member of the support team in one of 16 languages, including English, Chinese, French, German and Spanish. Agents are available 24/7 and will deal with any and all account issues. Contact methods include:
For variety, accessibility and affordability, Plus500 is hard to beat. For starters, the fees are low. They might not be the lowest in the industry but they’re right up there (or down there) with the best. However, what we really love about Plus500 is the wide opportunities it offers in CFD trading.
This broker not only covers all the various types of trading facilities; it also gives you the ability to buy and sell niche shares, indices, commodities and cryptos. Add to this a selection unique features, such as leverage for crypto trades, and Plus500 is perfectly set up to provide experienced traders with a comprehensive experience.