Plus500 logo
  • 💵 Currencies
  • 🛠 Platforms
  • ⇔ Spread
    GBPUSD: 1.1
    EURUSD: 0.6
    GBPEUR: 1.4
  • # Assets
  • 🪙 Minimum Deposit
  • 🫴 Bonus Offer

Our Opinion On Plus500

Plus500 is a trustworthy forex and CFD broker. We like that you can trade thousands of instruments including 60+ currency pairs with tight spreads. Our team finds that Plus500 is a particularly good option for beginners with a low minimum deposit and a user-friendly platform. On the downside, experienced traders may be put off by the limited market research. Overall, we are impressed with Plus500’s competitive trading conditions and regulatory status.


Pros & Cons

  • High trust score with licenses from CySEC, FCA and ASIC
  • Strong risk management tools including guaranteed stop-loss orders
  • Commission-free trading with competitive forex spreads
  • Wide range of instruments including forex CFDs
  • Reputable and listed on the London Stock Exchange
  • +Insights tool with big data on trends
  • Beginner-friendly platform and app
  • 24/7 multilingual customer support
  • CFD trading only
  • CFDs not available in the US
  • $10 monthly inactivity fee
  • No MT4 or MT5 integration
  • No copy trading

Is Plus500 Regulated?

Our team can’t fault the broker in terms of its regulatory status. It is a respected global brand, regulated across eight global entities. Plus500 UK Ltd is also listed on the London Stock Exchange (LSE), adding a layer of transparency and credibility.

We are pleased to see the brokerage provides several customer safeguarding measures, including negative balance protection. This means we can’t lose more than the money in our account while trading forex with Plus500.

Yet despite its respected position in the industry, the company was involved in a reporting failure in 2012 which resulted in a fine of just over £200,000 from the FCA. The firm failed to comply with transaction reporting rules between June 2010 and November 2011. Fortunately, the breach did not directly affect retail traders and there have been no complaints of scams, security breaches, or compliance failures since.

The broker holds licenses with:

  • Plus500IL Ltd – Registered and licensed to operate an investment platform in Israel
  • Plus500 UK Ltd – Authorized and regulated by the UK Financial Conduct Authority (FCA), license number 509909
  • Plus500SEY Ltd – Authorized and regulated by the Seychelles Financial Services Authority (FSA), registration number SD039
  • Plus500AE Ltd – Authorized and regulated by the Dubai Financial Services Authority (DFSA), registration number F005651
  • Plus500CY Ltd – Authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 250/14
  • Plus500SG Pte Ltd – Capital markets service licensing from the Monetary Authority of Singapore (MAS), license number CMS100648-1
  • Plus500EE AS – Authorized and regulated by the Estonian Financial Supervision and Resolution Authority (EFSA), license number 4.1-1/18
  • Plus500AU Pty Ltd – AFSL license from the Australian Securities and Investments Commission (ASIC), FSP license 486026 from the New Zealand Financial Markets Authority (FMA), authorized Financial Services Provider with the South African Financial Sector Conduct Authority (FSCA), registration number 47546

Forex Account Types

One of the reasons we think Plus500 is a top pick for beginners is the single account offering. This provides all retail traders with access to the same instruments, tools, and trading conditions. This essentially simplifies the joining process – there isn’t a range of pricing structures and features to navigate.

The downside of this approach is that established forex traders could be disappointed to find little in terms of rebates and perks for trading in high volumes. Fortunately, some experienced forex traders may qualify as an ‘Elective Professional Client’, foregoing ESMA’s leverage restrictions.

We are also pleased to see a selection of base currencies, making the firm accessible to forex traders in different locations. The minimum deposit is also low at $100, aligning with other popular brokers, such as

Account details:

  • Commission – Zero
  • Spreads – From 0.8 pips
  • Base Currencies – EUR, USD, GBP, AUD, ZAR

It is also worth highlighting that the brokerage caters to Muslim traders with an Islamic swap-free (halal) solution available upon request.

How To Open A Plus500 Account

Account registration is straightforward. Our traders were able to sign up in less than a minute. See our user manual to get started:

  1. Register for a Plus500 account
  2. Enter your email address and choose a password 
  3. Select ‘Create Account’ 
  4. Login to the client dashboard 
  5. Select the menu icon and choose ‘Verify Account’ under the ‘Account’ section
  6. Enter the details requested
  7. Add your country of residency and address in the following screen
  8. Upload proof of residency documents and identity verification 

Note, we were required to verify our ID and address before we could make a deposit and start trading forex. As a result, a useful tip is to have your personal documents to hand when signing up with Plus500. You will also need to agree to the user agreement.

Trading Fees

Whilst not the cheapest forex broker around, fees are in line with other major players in the industry, helping to keep trading costs down.

Plus500 offers commission-free trading alongside competitive spreads. We are pleased to see relatively tight spreads on major forex pairs, including 0.8 on EUR/USD and 1.3 on GBP/USD. While using the broker, we were also offered reasonable spreads of 0.7 on the USA 500 index and 1.5 on the France 40.

EURUSD trading conditions at Plus500
EUR/USD Conditions Explained

Note, live price information by asset can be found in the trading platform under the ‘Details’ section.  

Non-Trading Fees

Plus500 does charge some additional fees, but these are all fairly typical. Automatic rollover fees, for example, apply for overnight positions.

It is worth noting that currency conversion charges will apply for trades in a currency other than your account base. This may be up to 0.7% of a position’s realized profit & loss.

Additionally, a $10 inactivity fee applies after 3 months of dormancy. This is similar to alternatives, such as XTB. It is also noticeably lower than some competitors, with AvaTrade for instance, charging $50 after 3 months of zero trading activity.

Plus500 Payment Methods


We are impressed with the wide selection of payment methods available. This includes bank wire transfers, debit/credit cards, and e-wallets (PayPal and Skrill). Support for local payment methods in some jurisdictions is also a bonus, making it easy to fund an account with a convenient solution.

To improve its rating further, we would like to see Plus500 introduce increasingly popular solutions, such as Apple Pay, Google Pay and cryptocurrency.

For traders looking to get started quickly, our team recommend opting for e-wallets and bank cards, which typically provide near-instant account funding. There are also no charges from Plus500 for these solutions, though third-party charges may apply.

Importantly, we have no security concerns when depositing funds into an account. The broker utilizes Secure Socket Layer (SSL) encryption to shield transaction data.

How To Make A Deposit   

  1. Sign in to the client portal
  2. Select ‘Funds’ from the menu on the left side and choose ‘Deposit’
  3. Choose a payment method from the list of supported options 
  4. Enter the funding amount (note the $100 minimum investment)
  5. Complete the on-screen payment instructions 
  6. Select ‘Deposit’ to confirm the payment


As is typical at reputable forex brokers, withdrawals must be made back to the original payment method.

Plus500 aims to review withdrawal requests within 1 to 3 working days, meaning it could be up to 7 working days before funds are credited to your account. Now these aren’t the fastest timelines around – we see brokers that process withdrawals on the same day, however this will suffice for most retail traders.

Our team aren’t thrilled to see that you can only make a maximum of 5 withdrawal requests per month according to their money removal policy. A $10 fee per additional request will then apply.

We are also disappointed to see relatively high minimum withdrawals for some payment solutions, up to $100. This is a notable drawback compared to the likes of XM for example, where there are no withdrawal limits.

Minimum withdrawals:

  • Skrill – $50
  • PayPal – $50
  • Wire Transfer – $100
  • Credit/Debit Card – $100

Forex Assets

With over 60 currency pairs covering majors, minors, and exotics, we find plenty of forex trading opportunities at Plus500. The wide range available is also in line with other leading forex brokers, including XM, which offers approximately 50 forex pairs.

We also like that Plus500’s suite of forex assets can be traded as CFDs (contracts for difference). This means we can speculate on rising and falling prices while trading on margin. For a relatively small deposit, we can boost our purchasing power by up to 30x (1:30).

Forex PairAvailableForex PairAvailable

Non-Forex Assets

Plus500 is a great option for traders looking to diversify their portfolios beyond forex. With more than 2800 CFD instruments covering popular global markets, clients can explore new asset classes and sectors with ease from the same platform and app.

In fact, the broker offers considerably more instruments than many competitors, including XM (approx 1000) and AvaTrade (approx 1200). With that said, CMC Markets does knock Plus500 off its perch with an impressive list of around 12,000 assets. To bolster its rating further, we would like to see Plus500 introduce popular products like spread betting and penny stocks.

Supported instruments include:

  • Commodities – Invest in 22 soft and hard commodities including Brent oil, natural gas, gold, sugar, copper, and wheat
  • Shares – Speculate on the performance of 1000+ company stocks from the USA, UK, Australia, Germany, and more. Popular firms include Coinbase, Apple, Tesco, Newcrest Mining, and Deutsche Bank
  • Indices – Trade 25 indices including Hong Kong 50, Germany DAX 30, NASDAQ 100, and FTSE 100. We also rated that the firm offers 5 ESG indices and 5 sector indices such as the Global Warming Reduction Index and the Real Estate Giants Index
  • ETFs – Invest in 95+ popular exchange-traded funds such as VXX Volatility, USO-Oil, and Invesco QQQ
  • Options – Trade call and put options on a selection of instruments including USA 500, EUR/USD, and Tesla stock
  • Crypto – Speculate on 19 popular digital currencies including Bitcoin (BTC), Ripple (XRP), Stellar Lumens (XLM), Litecoin (LTC), Ethereum (ETH), and Monero (XMR)

Note, access to instruments may vary between jurisdictions. Futures, for example, are only available to US residents.

It is also worth being aware that binary options are not available. In addition, tax obligations in the UK, Europe and beyond are the responsibility of the trader.

Plus500 Most Viewed Instruments

Plus500 Leverage

The leverage available varies depending on the entity and relevant jurisdictional restrictions. EU clients, for instance, can trade with up to 1:30 leverage on major forex pairs as per ESMA restrictions. This is the same for Australian traders in line with ASIC regulations.

With that said, professional traders and individuals investing through entities with less stringent regulators can access higher leverage. This includes up to 1:300 for forex pairs and up to 1:150 for indices and commodities.

To help minimize the risks of online trading, our experts like that Plus500 offers guaranteed stop-loss orders. For a small fee/wider spread, the brokerage guarantees to close your trade at the agreed price regardless of market volatility or gapping. This can be a useful tool and is not widely available at forex brokers, helping to separate Plus500 in a crowded marketplace.

Note, you can change your leverage and find details of the margin call process in the members area.

Platforms & Apps

I was hesitant when I saw that Plus500 doesn’t offer the established MetaTrader platforms – MT4 and MT5. However, the broker’s WebTrader platform is easy to get to grips with and provides all of the features and widgets I need to analyze assets and make trades. I actually find the interface more user-friendly and modern than the sometimes clunky feel of the MetaTrader software.

Plus500 Trading Terminal

I am pleased with the level of customization and technical analysis tools provided. The WebTrader offers 9 graphs which can be viewed simultaneously, 13 chart types across 9 timeframes, 21 drawing tools, and 80+ integrated technical indicators. I also like that the news stream and economic calendar can be viewed from the platform menu, making it easy to toggle between charts and market announcements.

Another feature I find helpful is the custom notification service, which I can use to set alerts for various scenarios, including every time a position is opened or closed or when an asset hits a pre-defined price.

The Plus500 platform is available as a WebTrader or iOS and Android (APK) mobile app. On the downside, there is no download option for desktop Mac or Windows devices. The limited automated trading functionality is also a drawback.

How To Make A Forex Trade

Placing a trade on the WebTrader platform is easy:

  1. Sign in to the dashboard
  2. Select the ‘Trade’ icon from the left menu (second symbol from the top)
  3. Choose an instrument by searching for a symbol in the top navigation bar or scrolling through the list by category 
  4. Choose ‘Buy’ or ‘Sell’ to initiate the new window pop out
  5. Use the ‘+’ and ‘-‘ icons to increase or decrease the size
  6. Review the required maintenance margin information 
  7. Confirm any risk management parameters
  8. Select ‘Buy’ or ‘Sell’ at the bottom to complete the order

Note, annual and quarterly earnings reports can be downloaded from the platform interface. Simply select the ‘Menu’ logo, then ‘Tools’, and then ‘Reports’. 

Forex Tools

My favorite feature is the +Insights dashboard. I can view market sentiment data and analyze the trades and activity of other traders in real-time. I can also filter by the most purchased and sold assets and the highest payouts being returned currently. The tool can be a great starting point for beginners too. There is plenty of digestible data available to help with new trading ideas.

I also rate the economic calendar and ESG scores in partnership with FactSet, plus the analyst insight publications. However, I am disappointed to see that Plus500 doesn’t offer useful tools available at other forex brokers, including copy trading and a VPS. The former is useful for beginners new to trading forex while the latter can help active traders run automated strategies 24/7 without technical interruption.

Plus500 economic calendar today view
Economic Calendar

Forex Research

One of my key criticisms of Plus500 is the fairly limited market research available.

The broker indeed offers a latest news and market insights section that is updated each day and which can be filtered by popular topics such as ‘Big Tech’ or ‘NASDAQ’. However, to compete with other top forex brokers, I would like to see more technical analysis, including chart setups and graphical overlays.

Forex Education

Plus500 scores better in terms of the free training materials available through their online ‘Trading Academy’. There is a wealth of content, from e-books and keyword glossaries to video tutorials and trading tips. Most of the information is useful and covers key topics, including how to interpret net P&L performance, how to buy shares and use the Plus500 platform, plus a guide to day trading and overnight funding.  

On the downside, we don’t like that there is no clear distinction between resources for beginners and experienced investors. This means we have to do some digging to find the topics that would be most useful to our needs. Still, it is a useful service that will stand novice forex traders, in particular, in good stead.

Demo Account

We are pleased to see that Plus500 offers a free demo account to prospective clients. We are particularly impressed to see there is no time limit, meaning lifetime access.

The paper trading profile simulates real market conditions. This means you can practice trading with flexible leverage and an initial virtual balance of $40,000. The demo account also provides access to all instruments, platforms and apps. As a result, we find it a useful way to test some of the forex broker’s tools and features without risking cash. 

Plus500 WebTrader
Demo Charts

How To Open A Demo Account

  1. Select ‘Try Free Demo’ from the broker’s homepage
  2. Enter your email address and create a password. Alternatively, sign up with a Google or Facebook account
  3. Select ‘Create Demo Account’
  4. Access to the client dashboard should be granted immediately 
  5. Select ‘Let’s Go’ from the pop-out window for a virtual tour (optional)
  6. Start online trading in demo mode or choose ‘Switch To Real Money’ from the side menu to trade in live mode

Plus500 Bonus Offers

There is not a joining deal or any first ‘no deposit’ welcome bonus codes for new customers.  

Instead, the broker rewards more experienced traders with the improved conditions of the ‘Professional Trader’ account and the Plus500 ‘Premium Service’.

The Professional Trader account offers increased leverage, cash rebates, and best order execution to individuals with a portfolio of at least €500,000, plus experience in the financial industry and significant trading activity in the last year.

The Premium Service is an invitation-only scheme. Customers benefit from a fund manager, invitations to external events, regular expert analysis, and exclusive educational materials. This is worth opting in to if you trade forex in high volumes and get the call up.

Plus500 also offers Traders Points. Clients essentially pick up points for making trades which can then be redeemed for fee rebates.

We also recommend keeping an eye on the official website for upcoming promotions and bonus incentives. Of course, these may vary due to regulations, especially for EU traders.

Trading Restrictions

We are glad to see that Plus500 does not have many limitations when it comes to trading strategies. However, it is worth calling out that scalping and ‘abusive’ trading whereby several short-duration positions are placed repetitively are restricted. In this instance, the broker has the right to close positions or void your trading account.

 So, obviously we don’t recommend Plus500 for forex scalpers.

Customer Service

The broker offers excellent and reliable customer support. In fact, the customer service team is available 24/7 in 30+ languages.

We like that we can get in contact with Plus500 through a variety of channels, including live chat, online inquiry form, and WhatsApp. Upon testing, we could also get through to customer service representatives in less than a minute, which is competitive vs other leading forex brokers.

The only thing we are disappointed to see is that the broker does not provide a contact telephone number, often one of the most reliable contact methods.

Contact options:

  • WhatsApp – QR code integration from the FAQ page
  • Live Chat – Located in the bottom right of the broker’s webpages
  • Online Enquiry Form – Located in the bottom right of the broker’s webpages
  • HQ Address – Plus500UK Ltd, 8 Angel Court, Copthall Avenue, London, EC27 7HJ

Another useful tip from our experience is to try the FAQ area, which is fairly comprehensive. Questions include how to open or close a Plus500 account and common withdrawal problems. 

Company Details

Plus500 has a long history. It was established in 2008 and has its headquarters in Israel. Today, the brand is globally recognized, providing financial services and bespoke trading tools in over 50+ countries.

The broker boasts over 24 million registered customers, with 106,000 new accounts opened in 2022. Records also show over 300 million positions have been opened, totaling over $800 billion in volume.

Plus500 is listed on the Main Market of the London Stock Exchange with the ticker symbol, PLUS. It is a listed firm on the FTSE 250 index. Details on investor relations, stock dividends and share prices are available on the official website. The present CEO is David Zruia.

The latest strategic company announcements include the acquisition of EZ Invest Securities in 2022, and licensing in Estonia, both of which contribute to the brand’s global growth roadmap. 

The forex broker is also a brand sponsor of some leading sports teams including the Chicago Bulls and Legia Warsaw.

Our experts were unsurprised to see that Plus500 has picked up multiple awards, including being recognized as the Best Provider For Global Trading at the 2023 ADVFN International Finance Awards.  

Trading Hours

Plus500 opening hours are in line with most brokers and market operating hours.

For example, forex can generally be traded around the clock. Products on the US stock market will be available to trade between 2:30 pm and 9:00 pm (UTC). The UK equities market, on the other hand, is open between 8:00 am and 4:30 pm (UTC).

Instrument-specific trading times are available via the ‘Details’ section of the WebTrader platform. The broker also complies with the market closures and public holiday dates associated with each exchange. 

Who Is Plus500 Best For?

Plus500 is the best pick for beginner investors with all the basic functions needed to trade forex and CFDs.

The proprietary WebTrader platform and app provide a stable yet customizable interface with plenty of technical tools and analysis features. We also like that trading fees are competitive on major forex pairs and that we can use guaranteed stop-loss orders for a small spread markup. Add in a demo account with no expiry, an excellent reputation with strong regulatory oversight, plus a dedicated Trading Academy, and Plus500 has a lot to offer aspiring forex traders.


Is Plus500 Legit Or A Scam?

Plus500 is a legitimate brokerage with an established global presence. Our team is satisfied that the broker is regulated by top-tier agencies in multiple countries, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC). Our experts are also pleased to see protective measures like negative balance protection and guaranteed stop-loss orders.

Can I Trust Plus500?

Yes, Plus500 is a trustworthy forex and CFD broker with good user reviews. The broker has excellent credentials with a high trust score. There have been no recent reports of scams or financial mispractice and the firm has earned various industry awards. The 24 million traders that have opened an account is also a reassuring sign that the company can be trusted.

Is Plus500 A Regulated Forex Broker?

Yes, Plus500 is authorized and regulated by various financial authorities. This includes licensing from the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA)

Is Plus500 A Good Broker For Beginners?

Plus500 is a good broker for beginners. There are plenty of educational resources and a demo account with no time limit. The WebTrader platform is simple to use, with a modern and sleek design. Additionally, traders can access 24/7 customer support via several methods such as WhatsApp and Live Chat. The only key feature our team think is missing for novice traders is a copy trading platform.

Does Plus500 Offer Low Forex Trading Fees?

Yes, Plus500’s forex trading fees are competitive. Retail investors can trade commission-free with dynamic (or floating) spreads. We were offered spreads of 0.8 pips on the EUR/USD and 1.3 pips on the GBP/USD, which is reasonable.

Does Plus500 Have A Forex App?

Yes, the Plus500 trading platform has mobile app compatibility. The terminal offers the same stability and features as the WebTrader. We also like that you can add two-factor authentication (2FA) as a further security measure. You can download the app for free from the Google Play or Apple App Store. 

How Long Do Withdrawals Take At Plus500?

Plus500 processes withdrawals within 1 to 3 working days. The time taken for funds to be received will vary between methods. This includes a typical time of 3 to 7 working days for e-wallet transfers. However, we rate that you can review the withdrawal status from the client portal. 

Can You Make Money Trading Forex With Plus500?

The broker offers commission-free trading with tight floating spreads. With that said, profits are not guaranteed, so a risk management strategy is key. We like that Plus500 offers a useful risk protection measure in guaranteed stop-loss orders, which will close your position out at a specified price regardless of how the market moves or gapping.

Is Plus500 A Good Trading Platform?

Yes, Plus500 offers an easy-to-use trading platform with multiple tools. We particularly like the selection of 21 drawing tools, 80+ technical indicators, 13 chart types, and an integrated economic calendar. Traders can switch also between live and demo modes easily in the client portal. 

Is Plus500 A Market Maker?

Yes, Plus500 is a market maker broker. Orders are processed through an in-house dealing desk. This means that the broker takes the other side of opposing trades. The drawback is that this potentially raises a conflict of interest. With that said, our experts are comfortable that the forex brokerage is reliable with a good trust rating.

Article Sources

Plus500 Website

Plus500 FCA License

Plus500 DFSA License

Plus500 MAS License

Plus500 FMA License

Plus500 EFSA License

Plus500 FSA Fine 2012

Our Review Methodology is committed to helping traders find the right forex broker for their specific requirements.

Our forex broker ratings are the result of a blend of quantitative data and qualitative insights gathered during the testing process. This approach allows us to identify the best forex brokers for a variety of trading styles, skill levels, and financial parameters.

We score and compare forex brokers in more than 15 categories. The most important of which include regulatory credentials, the accessibility of accounts, coverage of the forex market, the quality of trading tools, and the competitiveness of fee structures.

To ensure we offer traders accurate and current information, our forex broker reviews also undergo rigorous editing and fact-checking.