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


Cyprus|10-15 years|
Regulated in Australia|Market Making(MM)|Self-developed|Global Business|High potential risk|


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169-171 Arch. Makarios III Avenue, Cedars Oasis Tower, Floor 1, 3027, Limassol, Cyprus
The WikiFX Score of this broker is reduced because of too many complaints!


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WikiFX Risk Alerts 2
Previous Detection : 2023-12-06
  • The number of the complaints received by WikiFX have reached 14 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 · 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


    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.


    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.


    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.


    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.


    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.


    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.


    Clone of Plus500

    NewsClone of Plus500

    2023-11-07 14:43

    The Notable UK’s Regulator Financial Conduct Authority (FCA) exposed a clone firm that is copying the details of an FCA-authorised regulated firm called Plus500. The FCA stated that the clone firm is convincing people that their firm is genuine. FCA shared the details of CLONE and authorised firm on its official website so that people don’t fall for Clone firm.

    2023-11-07 14:43
    Clone of Plus500
    FCA UK Warns Against Plus500UK Cloned Broker

    NewsFCA UK Warns Against Plus500UK Cloned Broker

    2023-11-07 14:42

    The UK's FCA warns of a fraudulent clone posing as the authorized broker Plus500UK Ltd. Investors should verify firms via official FCA resources before engaging.

    2023-11-07 14:42
    FCA UK Warns Against Plus500UK Cloned Broker
    Plus500 Commences New $60 Million Share Buyback Program

    NewsPlus500 Commences New $60 Million Share Buyback Program

    2023-08-18 14:25

    Plus500 announces a $60M share buyback program, reflecting confidence in its future. The firm remains vigilant against impersonators in the forex industry.

    2023-08-18 14:25
    Plus500 Commences New $60 Million Share Buyback Program
    WikiFX Reviews Plus500

    NewsWikiFX Reviews Plus500

    2023-07-14 17:17

    In today's comprehensive review, WikiFX will delve into the details of Plus500, which is considered an OG forex broker within the industry.

    2023-07-14 17:17
    WikiFX Reviews Plus500

    User Reviews

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    more than one year
    Plus 500 is a respectable broker, and I have been using it for years. I highly appreciate Plus 500’ customer support, responsive and helpful. Thanks my account manager, professional and patient. I also learned a lot on this platform.
    2023-02-21 21:37
    more than one year
    I am a little confused. As far as I know, Plus500 is a well-known and big forex broker, but now I can't even open their website. I see some complaints against the bad behavior of the company, but I find it hard to believe...
    2023-02-14 10:17
    Ricci Leonardo
    more than one year
    Compared with other brokers, the information of this broker is still not transparent enough. They do not even disclose the information about the trading conditions that traders are most interested in on the official website, and they do not reveal which trading platform to provide. Maybe just a web-based trading platform is provided.
    2023-02-13 16:53
    I am still dreaming about the money from 8850millionaire I like support for South Africa
    2023-01-10 05:16
    more than one year
    If it weren't for wikifx, I would really trust this company! It has licenses from several regulators and is in good could I have thought he was actually a liar? Forex trading scams are hard to detect!
    2022-12-14 10:22
    more than one year
    A friend of mine has been scammed by plus500. We don't understand why he is so positively famous. We have already reported with many platforms and we sincerely hope that they will refund our money.
    2022-11-15 18:38
    more than one year
    I made an investment on forex trading using this platform and made a small profit. This broker's customer support is quick to response. The only negative part is the withdrawal time is a little slow than brokers I used before.
    2022-11-15 14:43
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