Plus500 Review

Background

Plus500 began as a small Fintech start-up in 2008, and is now listed on the London Stock Exchange. Plus500 gives traders access to over 20 global markets and more than 2000 financial instruments. Very few CFD brokers can match Plus500, either for its technical expertise or resources. Customer service is strong and the account management system is tried and tested. Plus500 is a well respected brokerage with a good reputation, although it may not be suitable for every trader.

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Protection & Security

Plus500 is registered in the EU and Australia and is highly experienced when it comes to protecting trader security. The brokerage uses the world’s best SSL security protocols to safeguard its site and platforms and encourages traders to work closely with customer service and account managers.

Global Presence

Plus500 welcomes traders from most countries around the world. The multi-lingual trading platform available in over 30 languages, backed up by customer service and live support in almost ten different languages. Plus500 is one of the few truly international brokerages currently in operation.

Account Types

Plus500 offers a variety of accounts, including a professional account, retail account and Islamic account. Minimum deposits vary according to account type and region. It is worth contacting the broker directly.

Minimum Deposit – $100

Deposits & Withdrawals

Deposits and withdrawals are straightforward at Plus500. The broker accepts credit and debit cards, bankwire transfers, Skrill and PayPal etc. There are usually no fees, as long as you are depositing in a recognised base currency. We found Plus500 to be fast and efficient and they do not penalise traders who withdraw their profits.

Deposit

Plus500 accepts traders from dozens of countries and the minimum deposit varies according to your location. But the general rule seems to be $100 for credit/debit card and e-wallet.

Withdrawals

Withdrawals are usually free (if you stick to supported currencies) but there may be a monthly limit on the number of withdrawals. All transactions are usually completed within 3 days.

Trading Platforms

The award winning Plus500 Webtrader platform requires no download and allows fast one click order execution and risk management, backed up by live feeds and market updates. There is a whole suite of risk management tools as well as charts, heatmaps and trading statistics. The mobile apps are equally effective.

Markets & Products

Plus500 offers traders a world class asset index that includes cryptocurrencies, forex, stocks, indices, commodities, bonds and ETFs. The asset index is regularly updated with new financial products.

Edcuation Center

Plus500 maintains a basic education center. The quality of the learning materials is good, but they need to add more resources. Traders have the usual ebooks, film tutorials and courses. There are webinars, but not in all languages. We recommend working with your account manager to improve your trading.

Customer Service

One advantage of Plus500 customer service is that all the reps for each region are native speakers only. Services are available 24/7 which is another big plus. The staff is friendly and efficient and have a good knowledge of the broker’s platform and account management systems.

Promotions & Offers

Bonuses at Plus500 vary according to region. All traders can qualify for a welcome bonus and there are various promotions on offer throughout the year. Generally, Plus500 isn’t big on deposit bonuses and is more focused on offering better trading terms.

Trading Tools & Reaserch

All Plus500 traders have access to a free demo account (usually a good sign that the broker provides a high quality trading experience). There are also some excellent risk management tools, indicators, alerts and signals.

Overall Summary

PLUS:
Plus500 is a registered brokerage with years of experience. It provides a secure trading environment with a choice of account types and a top level trading platform. Account management is simple and traders aren’t hit by surprise fees or commissions.

MINUS:
Traders have complained about the mobile app. The brokerage could improve its education center and it needs to be clearer about how terms and conditions vary in different countries.

Pros & Cons

Pros

Excellent Webtrader platform

Good asset index

Strong international customer service

Fast and easy withdrawals

Cons

Average education center

Poor customer service

Reported issues with mobile trading

Some glitches on the platform

Plus500

Plus500

Protection & Security
4/5
Global Presence
4/5
Account Types
3/5
Deposits & Withdrawals
3/5
Trading Platforms
3.5/5
Markets & Products
3.5/5
Edcuation Center
3/5
Customer Service
2.5/5
Promotions & Offers
2.5/5
Trading Tools & Reaserch
4/5

Minimum Deposit - $100

Recent Comments

Matt D.

November 17, 2020 08:00

3.7

Protection & Security

4.3

Deposit & Withdrawal

3.5

Trading Platform

3.6

Markets & Products

3.5

Education & Research

4.1

Customer Service

3.7

Lost some profitable trades due to sudden platform ‘glitches’. Not good at all.

Pros

Cons

Free demo account

Platform seemed to be unstable

Good signals and alerts

No real promos or bonuses

Customer service works weekends

Account manager was lazy

Benjamin J.

November 17, 2020 08:00

3.5

Protection & Security

4.0

Deposit & Withdrawal

3.4

Trading Platform

3.0

Markets & Products

3.8

Education & Research

4.0

Customer Service

3.8

The mobile application crashed all the time, I’ve tried to reinstall it but same problems happened again. Very frustrating.

Pros

Cons

They are a multilingual broker

I had big problems with the mobile app

There are some strong trading tools

Costs were high compared to other brokers

I liked the choice of financial products

Need to see more cryptos

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