Plus500 Review 2024 | Is Plus500 a Scam or Legit Forex Broker?
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Top alternative : OspreyFX


Is Plus500 safe? Yes Plus500 is a safe and secure broker. However, No broker is perfect, and Plus500 is no exception. While they do have a lot of pros, there are plenty of reasons why you might be looking for an alternative to Plus500. So which brokers are better than Plus500? Want to jump straight to the answer?

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Read our Plus500 review to find out if Plus500 is a scam or a reliable forex broker. Unbiased Forex brokers reviews that serve the interests of our users.

Plus500 Review and Analysis

Overview

Plus500 ReviewPlus500 is an LSE listed online CFD brokerage firm that offers multiple trading instruments across commodities, currencies, cryptos, indices and shares on CFD’s, with multiple regulations and competitive charges.

Investor Protection & Regulations

Plus500 has multiple regulations from different countries. These regulatory bodies impose stringent rules to ensure that investor funds are adequately protected. Regulation includes FCA, ASIC, CySEC and MAS

Tradeable Products

Over 2,500 trading instruments are available for trading on the Plus500 trading platforms across currencies, stocks, ETF’s, indices, commodities and cryptocurrencies

Fees and Commissions

Plus500 fees and commissionsTight spreads and no trading commissions.

Trading Platform

Plus500 trading platformTrade with Plus500’s own simple and intuitive proprietary user interface. The platform comes in 32 languages and is available as WebTrader, Windows 10 version and as an Android, iPhone or iPad app.Plus500 offers its unique trading platform on mobile phones. The platform is available on Android, iOS and Windows phone. You can trade on the go, access push notification and manage your account

Account Types

Choose from 2 real account types on Plus500. Standard account minimum deposit is $100 and maximum leverage Is 1:30 with variable spreads and no commissions. Pro account leverage goes up to 1:300 and 10 transactions must have been performed per quarter over the course of one year to apply.

Deposit and withdrawal

Plus500 Deposit and WithdrawalPlus500 offers swift and secure channels for deposits and withdrawals including debit/credit cards, bank transfer and e-wallets which include Paypal and Skrill. Conversion fees are passed on to the trader and there are some charges for withdrawals

Usability

Plus500 simple platform provides a good experience for users. A huge selection of assets to trade, the platform comes with risk management tools and trading alerts are sent to the smartphone and by email

Customer Support

Plus500 customer supportDedicated and Multilingual Customer Support available 24/7 through Live Chat, Contact form and a variety of social channels. Customer support is helpful and fast to respond.

Education and Research

Plus500 provides no form of Trader Education to clients. There are very few research tools on Plus500 apart from price alert notifications and an economic calendar.

Overall Conclusion – Final Thoughts

Plus500 has been in the brokerage business for a decade. The trading platforms are simple, user-friendly, fast and secure. No educational materials are available, which is a huge minus.

Broker's Features PLUS500 Availability
Commissions
Hedging
PAMM
Scalping
Accepts US traders
24 hour trading
Swaps
Demo account
Daily analysis
Automated trading
Mobile trading
Trading by phone
1st deposit bonus
Forex contests competitions
Bonuses Promotions
Interest charges on the balance
Free education
Expert advisors
Partnership programs
Trust management
24 hour support

People Also Asked

Is Plus500 regulated?
Yes, Plus500 is regulated by top-tier regulators, FCA, CySEC, MAS, IE, ASIC, AFSL, FMA, FSP inclusive.
Where is Plus500 based?
Plus500 is based in Israel
How does Plus500 make money?
Plus500 charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in Plus500 account?
With Plus500 you can deposit money via the following means; Credit Card, Moneybookers, PayPal, Skrill, Wire Transfer.
How do I withdrawal in Plus500 account?
Plus500 lets you request a withdrawal of funds from your account via the following means; Credit Card, Moneybookers, PayPal, Skrill, Wire Transfer.
What is the minimum deposit for Plus500?
Plus500 has $100 minimum deposit.
What are the available account base currencies with Plus500?
Plus500 trading accounts are offered in USD. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in Plus500?
Plus500 has a maximum leverage is 1:30 for professional traders.
Does Plus500 use MetaTrader?
Plus500 platforms: No, Plus500 do not use MetaTrader but it uses the following platforms: Proprietary, WebTrader
What type of broker is Plus500?
Plus500 appears to be a Market Maker broker which offers market access to a variety of traders.
Does Plus500 accept US clients?
No, Plus500 does not accept US clients
Does Plus500 offers Islamic accounts?
Yes, Plus500 offers Islamic accounts
What financial instruments can I trade?
You can trade a wide variety of instruments with Plus500: You can trade a wide variety of instruments with Plus500: Shares, Indices, Forex, Cryptocurrencycurrency and Commodities

Are you Satisfied with what They Offer?