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The WikiFX Score of this broker is reduced because of too many complaints!

Plus500

Cyprus|10-15 years|
Market Making(MM)|High potential risk|

https://www.plus500.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

Plus500JPSecurities-Demo

Japan
MT4
8

Influence

AAA

Influence index NO.1

Poland 8.64
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

8
Server Name
Plus500JPSecurities-Demo MT4
Server Location Japan

Influence

Influence

AAA

Influence index NO.1

Poland 8.64

Surpassed 10.24% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

https://www.plus500.com/en/
169-171 Arch. Makarios III Avenue, Cedars Oasis Tower, Floor 1, 3027, Limassol, Cyprus
https://www.facebook.com/Plus500
https://www.twitter.com/plus500

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

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Broker Information

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Company Name

Plus500

Abbreviation

Plus500

Platform registered country and region

Cyprus

Company website
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WikiFX Risk Alerts 2
Previous Detection : 2024-10-15
  • The number of the complaints received by WikiFX have reached 17 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

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Plus500 · WikiFX Survey
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Plus500 · Company Summary

Plus500 Review Summary of 10 Points
Founded 2008
Headquarters Israel
Regulation FCA, CySEC, ASIC, FMA, MAS
Market Instruments forex, cryptocurrencies, stocks, indices, commodities, and options
Demo Account Available
Leverage 1:30 (forex), 1:20 (indices), 1:10 (commodities), 1:2 (cryptocurrencies), 1:5 (stocks)
EUR/USD Spread 0.5 pips
Trading Platforms own proprietary trading platform (desktop, web, and mobile)
Minimum deposit $/€/£100
Customer Support 24/7 email, WhatsApp and live chat

What is Plus500?

Plus500 is an online trading platform that offers Contracts for Difference (CFDs) on a range of financial instruments including stocks, forex, commodities, cryptocurrencies, options, and indices. The platform was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.

What Type of Broker is Plus500?

Plus500 is a CFD (Contracts for Difference) broker, which means that it offers trading on derivatives based on various financial assets without actually owning the underlying assets. Traders can speculate on the price movements of assets such as stocks, forex, commodities, cryptocurrencies, and indices without having to buy or sell the assets themselves. As a CFD broker, Plus500 allows traders to take both long and short positions, and offers leverage which can increase potential profits (and losses).

Plus500's website

Pros & Cons

Plus500 is a good option for traders looking for a user-friendly platform to trade a wide range of markets and instruments, with competitive spreads and no commissions.

However, traders who require advanced charting tools, educational resources, and alternative trading platforms may need to consider other brokers.

Pros Cons
• Simple and easy-to-use trading platform • Limited product offering
• Commission-free trading • Limited research and educational tools
• Tight spreads • No support for MetaTrader platform
• Negative balance protection • Limited customer support options
• Regulated by reputable financial authorities • No phone support
• Free demo account • Withdrawal fees for some payment methods
• Limited trading tools and features

Note that the information presented in the table is based on general observations and may vary depending on individual circumstances and preferences.

Plus500 Alternative Brokers

There are many alternative brokers to Plus500, and the best one for you will depend on your individual trading needs and preferences. Here are some popular alternatives to Plus500:

  • eToro: eToro is a social trading platform that allows you to copy the trades of other traders. It offers a wide range of trading instruments and has a user-friendly platform.

  • IG: IG is a well-established broker that offers a wide range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

  • XM: XM is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

  • Pepperstone: Pepperstone is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

  • IC Markets: IC Markets is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.

It's important to do your own research and compare the features and fees of different brokers before making a decision.

Is Plus500 Safe or Scam?

Plus500 is considered legitimate as it is authorized and regulated by several top-tier financial authorities, including the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base. However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker.

How are you protected?

Plus500 takes several measures to ensure the safety and protection of its clients, and the fact that it is a regulated broker provides additional reassurance to clients. Here is a table outlining how Plus500 protects its clients:

Protection Measure Detail
Segregated Funds Client funds are kept separate from company funds
Negative Balance Protection Clients can't lose more than their account balance
Risk Management Tools Stop loss, limit order and other tools to help manage risk
Account Verification Rigorous account verification process to prevent fraud and unauthorized access
SSL Encryption Secure Socket Layer (SSL) encryption used for all communication and data transfer
Regulatory Oversight Regulated by multiple reputable financial authorities
Investor Compensation Fund Eligible clients may receive compensation in the event of insolvency or bankruptcy

Note: This table provides a brief overview of Plus500's client protection measures and is not exhaustive. Clients should always refer to Plus500's official website and legal documents for complete and up-to-date information.

Our Conclusion on Plus500 Reliability:

Overall, Plus500 appears to be a reliable broker with a strong emphasis on client protection. The company is regulated by multiple reputable financial authorities, has a robust risk management system in place, and offers negative balance protection to clients. Plus500 also uses encryption technology to protect clients' personal and financial information.

However, it is important to note that no broker is completely risk-free, and clients should always carefully consider their investment goals and risk tolerance before trading with any broker.

Market Instruments

Plus500 offers a wide range of trading instruments including:

  • Forex pairs - major, minor, and exotic currency pairs

  • Stocks - CFDs on stocks from various international markets

  • Indices - CFDs on major stock indices like S&P 500, Nasdaq, FTSE 100, and more

  • Commodities - CFDs on precious metals, energies, and agricultural products

  • Cryptocurrencies - CFDs on popular digital currencies like Bitcoin, Ethereum, Litecoin, and more

Accounts

Plus500 offers two types of accounts: a live trading account and a demo account.

The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,000 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread.

The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.

Leverage

Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients.

For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients.

It's important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.

Spreads & Commissions

Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads can start from as low as 0.5 pips for major currency pairs like EUR/USD. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commission
Plus500 0.5 pips No
eToro 1.0 pips No
IG 0.75 pips Yes
XM 1.6 pips No
Pepperstone 0.16 pips Yes
IC Markets 0.1 pips Yes

Note that spreads and commissions are subject to change and can vary depending on the account type, trading platform, and other factors. Traders should always check the broker's website for the most up-to-date and accurate information.

Trading Platforms

The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages.

The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money.

Overall, the Plus500 trading platform is well-designed and functional, but it may lack some of the advanced features found in other trading platforms. See the trading platform comparison table below:

Broker Trading Platforms
Plus500 Plus500 WebTrader, Plus500 Windows Trader, Plus500 mobile app
eToro eToro WebTrader, eToro mobile app
IG IG Trading Platform, IG mobile app
XM MetaTrader 4, MetaTrader 5, XM WebTrader, XM mobile app
Pepperstone MetaTrader 4, MetaTrader 5, cTrader, Pepperstone mobile app
IC Markets MetaTrader 4, MetaTrader 5, cTrader, IC Markets mobile app

Deposits & Withdrawals

Plus500 offers several deposit and withdrawal methods, including:

  • Credit/debit card (Visa or Mastercard)

  • PayPal

  • Bank transfer

  • Electronic wallets (Skrill, Neteller)

It's worth noting that the availability of certain payment methods may vary depending on your location.

payment methods

Plus500 does not charge deposit or withdrawal fees, but some payment providers may charge transaction fees, which should be checked with the provider directly. Plus500 also requires users to withdraw funds using the same payment method that was used for depositing funds, up to the deposited amount. Any excess profits can be withdrawn using any other payment method supported by Plus500.

deposit and withdrawal fees

Minimum deposit requirement

The minimum deposit requirement for Plus500 varies depending on the jurisdiction and the account type. In general, the minimum deposit ranges from $100 to $1,000. For example, in the UK, the minimum deposit is £100. In Australia, it is AUD 100, and in the EU, it is €100. It is recommended to check the specific minimum deposit requirement for your country and account type on the Plus500 website.

Plus500 minimum deposit vs other brokers

Plus500 Most other
Minimum Deposit $/€/£100 $/€/£100

Plus500 Money Withdrawal

To withdraw funds from Plus500, you need to follow these steps:

Step 1: Log in to your Plus500 account and click on the “Funds Management” tab.

Step 2: Click on “Withdrawal” and select your preferred withdrawal method.

Step 3: Enter the amount you wish to withdraw and any additional information required for the withdrawal method you have chosen.

Step 4: Click on “Submit” to initiate the withdrawal process.

It is worth noting that Plus500 may require additional documentation or information to verify your identity before processing your withdrawal request. The processing time for withdrawals may also vary depending on your chosen withdrawal method.

Fees

Plus500 charges overnight funding fees for holding positions overnight. There are no fees for deposits and withdrawals, and inactivity fees only apply after three months of inactivity.

no fees

The overnight funding fee is a cost incurred for holding positions overnight and can be a credit or debit to your account depending on the direction of the position and the prevailing interest rates. The funding rate varies based on the instrument traded.

It is important to note that Plus500 may also charge additional fees for certain actions like guaranteed stop-loss orders or currency conversions.

aditional fees

Overall, while the fees for Plus500 are relatively low, traders should be aware of the potential for higher overnight funding fees, as well as any additional fees that may apply for certain actions.

See the fee comparison table below:

Broker Deposit Fee Withdrawal Fee Inactivity Fee
Plus500 Free $5-$10 $10/month
eToro Free $5 $10/month
IG Free Free $18/month
XM Free Free $5/month
Pepperstone Free Free $0
IC Markets Free $3.5 $0

Customer Service

Plus500 offers customer service through email, WhatsApp and live chat. The live chat is available 24/7, while email and WhatsApp support is available during business hours. Plus500 also provides an extensive FAQ section on their website, which covers many commonly asked questions about their services and trading platform.

FAQs

You can also follow Plus500 on some social networks such as Facebook, Twitter and Instagram.

social media

Overall, Plus500's customer service is considered to be adequate, with prompt responses and helpful support staff. However, some users have reported difficulty reaching support during busy times or experiencing long wait times for responses to their queries.

Pros Cons
• 24/7 customer support via live chat • No phone support available
• Multilingual support • Sometimes response is not prompt
• User-friendly help center and FAQ section

Note: These pros and cons are subjective and may vary depending on the individual's experience with Plus500's customer service.

Education

Plus500 provides an educational section on their website, which includes video tutorials, a demo account, and a FAQ section. The educational resources cover topics such as trading basics, technical analysis, and risk management. However, the educational content is relatively limited compared to some other brokers and may not be sufficient for beginners looking to learn about trading.

Conclusion

Overall, Plus500 is a reputable and reliable online broker that offers a user-friendly trading platform, competitive spreads, and a wide range of trading instruments. It has a strong regulatory framework and offers various measures to protect its clients. Plus500 also provides excellent customer service with a 24/7 support team available via live chat.

However, Plus500 does have some drawbacks, such as limited educational resources, lack of a dedicated account manager, and a relatively high inactivity fee. Additionally, the broker's trading platform may not be suitable for advanced traders who require advanced charting tools and features.

In summary, Plus500 is an excellent option for beginner traders who are looking for a straightforward and easy-to-use trading platform with a low minimum deposit requirement. It is also a good choice for experienced traders who prioritize a strong regulatory framework and reliable customer service over advanced trading features.

Frequently Asked Questions (FAQs)

Q 1: Is Plus500 regulated?
A 1: Yes. Plus500 is regulated by FCA, CySEC, ASIC, FMA, and MAS.
Q 2: Does Plus500 offer demo accounts?
A 2: Yes.
Q 3: Does Plus500 offer industry-standard MT4 & MT5?
A 3: No. Instead, Plus500 offers its own proprietary trading platform (desktop, web, and mobile).
Q 4: What is the minimum deposit for Plus500?
A 4: The minimum initial deposit to open an account is $/€/£100.
Q 5: Is Plus500 a good broker for beginners?
A 5: Yes. Plus500 is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

News

Plus500 Launches Multiscreen Charts for Enhanced Trading

NewsPlus500 Launches Multiscreen Charts for Enhanced Trading

2024-08-28 11:09

Plus500 introduces multiscreen charts on its platform, enabling traders to view and trade more efficiently. Customize and enhance your trading experience today.

WikiFX
2024-08-28 11:09
News
Plus500 Launches Multiscreen Charts for Enhanced Trading
Plus500 Reports Strong H1 2024, Returns $185.5M to Shareholders

NewsPlus500 Reports Strong H1 2024, Returns $185.5M to Shareholders

2024-08-20 14:38

Plus500 reports strong H1 2024 with $398.2M in revenue, $183.9M in EBITDA, and returns $185.5M to shareholders—solid earnings and customer acquisition growth.

WikiFX
2024-08-20 14:38
News
Plus500 Reports Strong H1 2024, Returns $185.5M to Shareholders
An In-depth Review of Plus500, A CFD Broker

NewsAn In-depth Review of Plus500, A CFD Broker

2024-04-08 15:27

Unveiling: A detailed Plus500 review focuses on its robust, user-friendly platform, strict regulatory compliance, and extensive market offerings, catering to beginners and experts alike.

WikiFX
2024-04-08 15:27
News
An In-depth Review of Plus500, A CFD Broker
 Plus500 doubles its Israel office space

Exposure Plus500 doubles its Israel office space

2024-03-25 16:30

Retail FX broker Plus500 Ltd (LON: PLUS) is gearing up for a significant expansion, according to sources familiar with the company's plans in Israel. Reports indicate that Plus500 is securing an additional 5,800 square meters of office space adjacent to its current global headquarters in Haifa, Israel. Alongside this move, the company is actively engaged in recruiting new talent across various departments.

WikiFX
2024-03-25 16:30
Exposure
 Plus500 doubles its Israel office space

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