Plus500 Broker Review [In-Depth 52 Point Review & Ratings]

Plus500 - Best For Traders Seeking A Solid FTSE 250 Listed CFD Broker Offering A Large Selection Of Shares, Forex, Crypto & Commodities To Trade On A Easy To Use Platform With Guaranteed Stops.

REVIEW BREAKDOWN
Broker Reputaton (Great)
Choice Of Trading Instruments
Trading Platform
Investor Protection
Customer Service

Review - Winner

plus500 CFD Broker Review & Comparison

Plus500 has been around since 2008 which makes it one of the more mature, established CFD Forex Brokers.  This is reflected in the sheer size of the number of instruments you can trade.

Plus500 Review SummaryPro’sCon’s
Trust Pilot Rating (% Avg or Better) 92%★ Large Selection of Instruments✘ No MT4 or MT5 Platforms
TrustPilot Stars ★★★★★ Guaranteed Stops
FPA Rating ★★★ Integrated Alerts (eMail, SMS, Push)
Open An Account★ Large Established Broker

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Broker Ratings & ReputationPlus500 CFD Forex Broker Review

Trusting the broker you are using is critical.  You need to be sure that the broker is reputable, efficiently run and well regulated.  To be able to assess the quality of a broker we have chosen to use two sources of ratings, because some brokers may be unfairly discriminated against on one rating website, and have great reviews on another website.  We have chosen what we believe to be the best to sources for impartial customer ratings.  Firstly we use Trustpilot, it is a well established independent website where customers can rate brokers.  Secondly, we use ForexPeaceArmy (FPA) which is a very well run community-driven rating site focused on fairness.  One of the issues with review sites is that sometimes unhappy customers form the majority of reviews as they are an outlet for complaints, the happy customers feel no need to review the service as they are content.

Plus500 scores very well on Trustpilot, with a 4 out of 5 stars rating and an 89% approval rating from 769 reviews.  The approval rating is the total percent of reviews that are rated average, great or excellent.  In fact, 62% of Plus500 customers rated the service as excellent, this is amongst the very highest in the industry.  Alternatively, on the FPA website, Plus500 scored 2 stars, which is a contrast to Trustpilot.  Taking both into consideration we can assume Plus500 is a reputable broker.  Always do your own research.

Instruments & Leverage Plus500

Instruments CategoryRetail AccountProfessional Account
Forex1:301:300
Indices1:201:300
Commodities1:201:150
Shares1:51:20
Options1:51:5
ETFs1:51:100
Crypto1:21:20
Table 1: Instruments & Leverage Per Account – Plus500 (Always refer to the Plus500 Website for the latest leverage & spread information)

Forex

Plus500 offers a huge selection of 74 foreign exchange CFD Pairs for Trading.  All the common pairs such as EUR/USD as EUR/GBP are covered, plus more exotic pairs such as NZD/JPN (New Zealand/Japan) and CHF/HUF (Swiss franc / Hungarian Forint).  Leverage is available up to 30:1 but of course, the leverage available to you depends, as with all brokers, on your account balance and experience.  Leverage of 30:1 is for retail customers and if you qualify as a professional investor your maximum leverage can increase to 1:300.

Cryptocurrencies

Trading Crypto is hot right now, and Plus500 currently offer 13 different Cryptocurrency CFD’s pairs to trade, this is the 2nd largest selection of Cryptocurrencies out of our 5 recommended brokers.  You can trade Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Stellar, Tron, Cardano, and Monero CFD’s all against the dollar.  You can also trade Ethereum against Bitcoin.  Crypto leverage is typically 1:2 for retail accounts, good brokers in this space tend to keep the leverage low to be able to service the trades in the volatile environment that is cryptocurrency.  For professional accounts this rises to 1:20.

Share & Indices CFD Trading

With a portfolio of over 2,000+ tradeable CFD shares, Plus500 offers one of the broadest selections of stocks available through CFD brokers.  Recently introduced are the 7 main cannabis stocks.  There is a huge selection of U.S. stocks and 20 other markets from Japan and the U.K. to Austria and Finland.  In terms of Indices, all the major European and American Benchmarks are covered, plus some rather interesting combinations like the NYSE Fang+ Index, China Internet Giants Index and even a Lithium & Battery Index.  With 31 Indices options, there is plenty of variation to quench the thirst of a well-researched trader.  In addition to shares and indices Plus500 also offer CFD Options trading, this is interesting because very few other brokers offer Options on the menu of services offered.

Commodities

For those interested in commodities, there are 20 CFD’s to choose from, which is again one of the broadest collections of commodities available. The usual commodities like Oil, Gas, Palladium, Cocoa, Cotton, and Metals are covered and include livestock such as Cattle and Hogs.

Brokers Trading Platform

Plus500: Simple & Intuitive Platform Design With integrated Alerting
Plus500: Simple & Intuitive Platform Design With integrated Alerting

Plus500 aims to keep it simple and straight forward when it comes to tools.  You can trade from your tablet, smartphone, and PC / Mac.  There are no costs associated with using the platform and no complex installation.  The beauty of this platform is that it is extremely easy to use and intuitive, whether you are using your phone or have the WebTrader program installed on your PC.  The App has a 4-star rating on the Play store and in the Apple store, which is unusual, many brokers get poor ratings for their mobile software. Ultimately you know you will be getting a solid and seamless experience however and wherever you choose to trade.

Powerful Alerting

Plus500 Trader Sentiment Alerting Is Powerful And Unique
Plus500 Trader Sentiment Alerting Is Powerful And Unique

Plus500 have taken an innovative step by adding powerful alerting functionality to their WebTrader platform.  This means if you want to trade either with sentiment or against sentiment, you can configure the alert.  Warren Buffett suggests one should “be greedy when others are fearful and fearful when others are greedy”.  Therefore you can set an alert for a trading instrument at the extremes and implement a contrary trading strategy.  Nice work from Plus500.

Company Background & Regulators

Plus500 was established in 2008 and is one of the most established brokers in the business servicing over 300,000 customer accounts.  The holding company is Plus500 PLC a FTSE 250 listed company on the London Stock Exchange.  You can rest assured that the company accounts are public and that Plus500 is regulated by the following authorities:

  • Plus500UK Ltd authorized & regulated by the FCA (# 509909).
  • Plus500CY Ltd authorized & regulated by CySEC (# 250/14).
  • 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.”

Account Funding & Investor Protection

Account Funding

Opening a demo account is free, but to start trading you will need a minimum balance of $100.

Investor Protection

Guaranteed Stops With Plus500
Guaranteed Stops With Plus500

According to Plus500:

  • All client money is held in segregated client bank accounts in accordance with the Financial Conduct Authority’s client money rules
  • Plus500UK Ltd uses its own money for hedging, it does not use client money for this purpose
  • Plus500UK Ltd does not pass client money through to hedging counter-parties
  • Plus500UK Ltd does not initiate speculative positions in the market
  • Plus500UK Ltd has no exposure to corporate or sovereign debt
  • Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909)
  • Plus500UK Ltd does not invest the money of retail clients

Finally, as per regulatory requirements, Plus500 operates segregated accounts, meaning that your cash account is segregated from the accessible funds available to Plus500, simply meaning, they cannot use your funds to trade their own account.  Also, there is Financial Services Compensation Scheme (FSCS) insolvency compensation of up to 50,000 GBP in accordance to regulations.

Customer Support & Satisfaction

Customer support is offered in 16 different languages, and email support on a 24/7 basis, this is one of the few brokers that cover 24/7.  The platform is available in 32 languages.  However, do not expect to be able to call customer services, they provide only email and live chat support.

You can also see from the TrustPilot Reviews and from their 90,000 twitter followers, there are few complaints about the service.

Review Summary Plus500

Plus500 is a well-established market leading CFD broker with a good reputation, which is important in this industry.  They have one of the biggest selections of tradeable instruments including Shares, Options, ETF’s, Indices and a huge selection of Fx pairs and Cryptocurrencies.  The system and platform are designed for simplicity and ease of use from the highly rated WebTrader software to the tight Spreads.  This publicly listed LSE company is transparent and offer guaranteed stops which are essential.  This is why they are one of only 5 of our recommended brokers.  If you are looking for direct ECN market access or the MetaTrader suite, then you may want to look at other brokers.

Open An Account

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Table: Plus500 Service Datasheet

Brokerplus500 CFD Broker Review & Comparison
Customer Ratings
Trustpilot Stars★★★★
Trustpilot (% Average Rating & Above)92%
ForexPeaceArmy Rating★★
Dealing Type STP
Dealing Type ECN
No Dealing Desk / Market Execution
Market Maker
Scalping & HFT Allowed
Instruments & Leverage
Forex Pairs CFD's74
Forex Leverage1:30
ForexSpread
Crypto Trading CFD's #13
Crypto Leverage1:2
Shares CFD's #2000
Shares Leverage1:5
SharesSpread
Indices CFD's #30
Indices Leverage1:20
IndicesSpread
ETF CFD's #84
ETF Leverage1:5
Commodities, Bonds, Treasuries CFD's
Commodities / Futures20
Commodities Leverage1:20
Bonds / Treasuries #
Bonds Leverage
Funding & Company Size
Minimum Balance$100
Established2008
Investor Protection
Negative Balance Protection
Guaranteed Stops
Segregated Accounts
Investor Protection $£50,000
Regulated ByFCA UK (FRN 509909) / CySec /
Australian SIC
Parent CompanyPlus500 FTSE 250 Company
Trading Software
SoftwareWebTrader
Mobile Software
Customer Services
Customer SupporteMail & Chat
ResearchAlerts / Trader Sentiment
Education
Twitter Followers90000

CFD Risk Notice ESMA & FCA Risk Warning - "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts may lose money when trading CFDs with any provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk"

We thoroughly background check the brokers we recommend and only list reputable trustworthy companies.  Read our tips to perform your own background checks, and test a broker after you sign up. You can perform your own check easilly. LiberatedStockTrader.com accepts no responsibility for your experience with any broker.
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Frequently Asked Questions About CFD Brokers

How do I find a trustworthy CFD Broker?

There are thousands of brokers offering Contracts for Difference Brokerage Services.  CFD’s differ from buying or selling regular stocks or foreign exchange because you do not actually own the underlying stock or currency.  Instead, you own a contract for that instrument which should closely represent the underlying asset’s value. We recommend you check ratings on Trustpilot, it is a well established independent website where customers can rate brokers.  Secondly, you can use ForexPeaceArmy (FPA) which is a very well run community-driven rating site focused on fairness.

Why are CFD’s not available in the USA?

CFD’s are not allowed in the U.S.A., Canada, and India, due to the fact they do not represent trading or exchange of the actual asset. They are forbidden under the Securities and Exchange Commission regulations.  CFD trading is huge in Europe and Asia, where it is completely legal and regulated.

Why do people complain about not being able to get their funds back from CFD Brokers?

One of the issues with review sites is that sometimes unhappy customers form the majority of reviews as the websites are an outlet for complaints, the happy customers feel no need to review the service as they are content.

Due to money laundering legislation and anti-terrorism laws, all financial institutions are not allowed to return money to a bank account that did not send the money in the first place.  This means you cannot fund your account from bank A and expect your funds to be returned to bank B.  Many traders do not realize this, and when the brokers need to investigate the potentially fraudulent request, the delays make the customers angry, this is typically not the fault of the reputable broker. That is not to say all brokers are reputable.

What kinds of Fraud Activities are in the CFD Industry?

Many brokers act as market makers for their clients, meaning they provide the liquidity upon which you trade.  An unscrupulous broker might manipulate the market prices to benefit themselves.  Tactics like not executing trades, or executing trades at different prices to the ones on the quote screen for example.  This is why reputation is everything in this industry.

 

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