Plus500 Review in 2020

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plus500 review


Plus500 Review in 2020

At Top10best.io, we strive to help you make informed decisions about financial matters. We provide you with detailed review of brokers and financial brands in the market.

By the way, we’re 100% free to use & fully independent
Trusted by thousands


plus500 review Plus500 Review:
Best CFD & Forex Broker in 2020 (Great User Experience)


As one of the best FX & CFD brokers in the world, Plus500, an Israel based online broker was established in 2008 and publicly listed in London Stock Exchange.
Plus500 safety level is pretty high as it is under governance by the following top tier financial authorities:

  • Financial Conduct Authority (FCA) in the United Kingdom
  • Australian Securities and Investments Commission (ASIC)
  • Cyprus Securities and Exchange Commission (CySEC)
  • FSCA of South Africa & FMA of New Zealand
  • Singapore: (Monetary Authority of Singapore
  • And finally in their home town, Israel, the Israel Securities Authority (ISA)
  • The portfolio of products and services that Plus500 offers are not very comprehensive. Even though there are variety of CFD options, you can only trade the following stocks:

  • Forex,
  • Crypto,
  • CFD
  • We have analysed over 31 Tier-1 online brokers & online trading paltforms, and rated Plus500 as an option for:

  • Best low trading fee online broker
  • Safe Online broker
  • Best Forex Broker
  • Plus500 pros and cons

    Apart from regulation that we talked about, online trading platform that Plus500 offers to you as a trader is among the best. It's comprehensive, and very easy to use. Plus500 lacks in offering great educational materials but you will have a demo account to practice.

    The bright side is their low trading fee, and their decent customer support. Additionally, you can deposit at no cost and withdraw 5 times a month.
    There is always a flip side of the coin and it is Plus500's limited offers and portfolio (Most Forex & CFD). If you wish to compare Plus500 with other alternativve online Brokers, click here, otherwise keep reading.



    best cfd broker
    Best online CFD & FX broker
    (Great User Experience)
    Trade Now

    Account Fees:

    NO

    Minimum deposit:

    $100

    Withdrawal Fees:

    Free

    Investor Protection:

    £85,000 for UK residents,
    €20,000 for Europe (Swiss & Norway)

    Regulated:

    YES, UK, Israel, Australia, Singapore, Cyprus, South Africa & New Zealand

    Customer Support:

    Live Chat, Email

    Demo Account:

    YES

    Trading Options:

    Forex FX, CFD, Crypto

    Expert rating:

    Online Trading Platform: Desktop, Mobile, Web

    Commission rating:

    Research rating:

    Education rating:

    Overall Ranking:

    4.5 / 5

    Deposit & Withdrawal Type:

    Free / Bank Transfer, Credit/Debit card, Electronic wallets

    Open Account

    Plus500 Pros and Cons

    Apart from regulation that we talked about, online trading platform that Plus500 offers to you as a trader is among the best. It's comprehensive, and very easy to use. Plus500 lacks in offering great educational materials but you will have a demo account to practice.

    The bright side is their low trading fee, and their decent customer support. Additionally, you can deposit at no cost and withdraw 5 times a month.
    There is always a flip side of the coin and it is Plus500's limited offers and portfolio (Most Forex & CFD).

    If you wish to compare Plus500 with other alternativve online Brokers, click here, otherwise keep reading.


    How Much is Plus500 Fees

    There are Pros and Cons here too.
    The fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread.
    ✓ For S&P 500 CFD the fee is 0.45 average spread cost, which is considered to be low.
    ✓ For Europe 50 CFD the fee is 1 average spread cost, which is considered to be low.
    ✕ For EURUSD the fee is 0.6 pip average spread cost, which is considered to be low.
    ✕ There is inactivity fee of $10 per month after 3 months.


    TIP: In reality it can take couple of business to deposit via bank transfer, Yet credit card and debit cards are done instantly.
    Some other positive points are:


    best cfd broker
    Pros

    Free deposit and 5 withdrawal per month

    Low forex trading fees

    Decent Customer Service

    Updated Online Trading Platform


    best cfd broker
    Cons

    No Phone Support

    Portfolio is limited to CFD & Forex

    There is Inactivity fees



    Trading Vs Non-Trading fees

    Thats not all the fees
    As you can see in the table above we ranked Plus500 fees (in the table in 3 different categories: from low, average to high) compare to 2 other competitors and brokers: XTB and eToro
    Well, you need to keep an eye on broker fees such as trading fees and non-trading fees too.

    Trading fees are very easy to understand. Those fees are there only when you trade anything.
    Plus500 is very transparent with its trading fees.
    You can withdraw 5 times a month at no cost, but if you do try more than that in every 30 days, you will be charged $10.
    If you wish to withdraw through banks, you ought to pay another $6 as a fix fee.
    In cases where you withdraw any amount less than the minimum withdrawal amount of $100 in Plus500, You will also be charged $10. Generally, trading fees come in formes of:

    Trading fees come in forms of:

  • Commissions
  • Spreads
  • Financial Rates
  • Conversion Fees
  • Now it's time for Non-trading fees
    These charges are not 100% related to what you trade. You have seen them in the table above. they are fees such as withdrawal and inactivity fees.

    Plus500

    Best Online broker for CFD, Forex (Great User Experience)


    4.5

    Minimum Deposit

    $100

    Trade Now

    Plus500 Trading fees

    Plus500, which is primarily known as a forex or CFD broker offers only one type of account with different base currencies. You can contact their support team to change your base currency. Let's deep dive and have a look at plus500's fees for stock, forex and CFD fees. we will also run a comparison table with two big brokers to show you the difference.
    The Scenario is running this way: A typical trade means buying a leveraged position, holding it for 7 days and only sell after that period.
    * Volume: a $2,000 position for the stock Index
    * Volume: a $2,000 position for CFD
    * Volume: $20,000 for the forex transactions.
    The leverage in this scenarios is:
    • 20:1 stock index CFDs
    • 5:1 CFD
    • 30:1 forex
    • Stock CFDs are Apple & telecommunication giant Vodafone


    Here is the tabular view of plus500's fees and side by side comparison with other 2 brokers.


    CFD Scenario

    CFD Fees

    Plus500

    eToro

    XTB

    S&P 500 CFD

    $2.1

    $2.2

    $2.0

    Europe 50 CFD

    $1.3

    $2.7

    $2.2

    Apple CFD

    $8.9

    $6.3

    $17.9

    Vodafone CFD

    $7.6

    ---

    $20.9


    Forex Scenario

    Benchmark Fee

    Plus500

    eToro

    XTB

    EURUSD

    $17.9

    $19.6

    $15

    GBPUSD

    $14

    $16.2

    $11.1

    AUDUSD

    $12.6

    $12.4

    $10

    EURCHF

    $9

    $11.8

    $6.6

    EURGBP

    $14.4

    $19.9

    $9.9


    To start trading plus500 does not charge any deposit fees, but you ought to remember that in order to deposit money you have to use funding sources that are in your own name. If you are ready to trade, go ahead and use the live account, If not plus500 offers a demo account to practice..


    Plus500's Online Trading Platform

    plus500 does not offer desktop platform but it provides access to a unique mobile trading app and web trading platform. Even though it is liked by experienced traders, we have received feedback from beginners that they could easily navigate through the tabs and the entire online trading platform. One fun part is the search functionality.

    Plus 500 mobile apps are available for IOS, Android and Windows Phone. If you want to trade on to go, you may use mobile trading platforms on your android and ios device. it gives you the flexibility of mobile as well as some cool features such as push notifications or enhanced touch experience to act by swiping right or left.
    To add more security and protect your account, you can setup two-step login feature in your profile.
    The UI & UX of plus500 trading platform is unique and user friendly.
    At a glance it looks like this:



    You should not be worried if English is not your strength, because plus500 online trading platform is available in the following19 languages: In middle east it covers Arabic, Bulgarian, Simplified Chinese, Czech, French, German, Hungarian, Italian, Japanese, their origin language of Polish, then Romanian, Russian, Slovenian, Portuguese & Spanish languages, Thai, Turkce for Turkish citizens, Vietnamese and of course English.

    When it comes to trading, customer service plays a big role.
    Overall, plus500 customer support team responds fast via email (but they do not answer Phone calls). They have a live chat and offer help in English.

    Plus500

    Best Online broker for CFD, Forex (Great User Experience)


    4.5

    Minimum Deposit

    $100

    Trade CFD Now

    What can you trade on Plus500

    Products, Portfolio and Markets

    The trading options that are available to you at plus500 are:

  • CFD
  • Forex
  • Cryptocurrency
  • Tip: When you buy with no leverage (leverage=1) you buy real stocks and not contract for difference. That's why Non-leveraged buy positions for equities, ETFs and cryptocurrencies (digital currency) are traded as real assets. (Be aware of the risks of price movements)
    All other positions are kind of contract for difference (this applies to cfd traders). An example could be leveraged buy positions and all sell positions of stocks, ETFs and cryptos as well as all forex, commodities and indices positions.

    Tip: Changing the leverage manually is a very useful feature when you want to lower the risk of a trade. For instance, rather than trading with X:1 leverage (x higher than Y), only trade with Y:1 leverage for stock CFDs. Please be reminded that forex and CFD trading default leverages are high, don't gamble.



    best forex broker Trade Online Now

    Currency pairs:

    70

    Stock index CFDs:

    33

    Stock CFDs:

    1800

    ETF CFDs:

    92

    Commodity CFDs:

    22

    Bond CFDs:

    --

    Future CFDs:

    --

    Cryptos:

    14


     

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
    Disclaimer: Indicative prices; current market price is shown on the broker's trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.



    How to open account on plus500.


    Citizens of most countries are allowed to open account, however, Plus500, as a forex or CFD broker offers only one type of account and you can not open an account if you are from USA or Canada).
    You can expect a very easy, smooth and professional process to open your account with Plus 500. All you need is an email or a social platform login
    You don't want to wast time, so do they. therefore, you will get your account opened in 1 day. Additionally, you will get access to use your demo account, immediately

    However, if you decide to move forward as a trader and work with real money and real shares or trades, get ready to provide your passport or ID along with proof of residency (something like a utility bill or bank statement). In some cases a video verification might be asked too. Well, its more than easy to place an order and you will be guided throughout the process.
    As you can see in the image below, you will be prompted with easy to use wizard for getting onboard with plus500.

    in brief follow these 5 steps for account opening at plus500:

    1. Get ready with you email address
    2. Select the country of residency.
    3. Provide demographic data
    4. Select your account type & base currency.
    5. Provide identity and residency proof for activation.

    plus500 review

    Performance Tracking

    Tip about away times:
    You can set alerts and notifications on plus500 and customise it. For instance, your alert can be set for a time that an asset reaches certain price target, or for fulfilment of order.
    No matter you use web or mobile for your trading, you can get different kind of notifications.
    Additionally, you might get yourself registered with traders' Sentiment so the system can inform you if a certain percentage of traders ( Buyers or Sellers) reaches a preset level that matters to you.
    I will put it simply, whether you need a pie chart, or list of assets, you can easily generate it and track the performance of your portfolio in plus500, It's kinda easy and you can see a structured cash flow and other financial related reports.
    Follow this path:

  • Navigate to portfolio
  • Then History
  • Access your account statement

  • plus500 offer new feed too and it is all produced by in-house research team. In 2018, they managed to please the jury and be awarded by Bloomberg as Best EMEA FX Forecast. What you can expect is a combination of economic calendar data release, what trader's talk recommendations, and a bit about market development.

    Finally, Research & Education

    Alright, if you are looking for fancy videos and a lot of videos to begin with, top 10 best is a much better resource since we have hundreds of pages and detailed reviews and tools, guides and articles (We do not offer investment advice and guarantees).
    plus500 education is not that comprehensive. You will get a demo account and sufficient balance to begin practicing.
    The Research part however is comparatively strong. for instance, they have a feature called 'Market sentiment' that illustrates the log and short positions of percentage of the clients.
    When it comes to research it offers decent technical analysis tools (in 21 languages) that engages you with good UI and user friendliness environment, nice interactive charts, and some recommendations about analysis and ideas on trading.
    The charts and charting feature is pretty good. You can use almost 107 technical analysis. Please bear in mind that this broker does not offer the following:
    • Trading ideas
    • Fundamental data

    Our Take


    After careful evaluation, we believe plus500 is among top-tier online brokers, especially when it comes to trading CFD and forex in 2020.
    Couple of reasons could be it's regulation and being listed in stock exchange that makes it safer to trade. Also it is regulated by several financial authorities globally.

    Good thing is that plus500's trading fees on forex and stock index CFD are low, and they allow you to withdraw for free and 5 times a month, In fact it's done pretty fast. No need to talk about the fully automated account opening process which is a great joy.
    On the negative side, plus500 is good for FX and CFDs but does not offer much of other options to trade, especially if you are outside Europe. They charge you inactivity fee and do not offer that much of educational materials


    Plus500

    Best Online broker for CFD, Forex (Great User Experience)


    4.5

    Minimum Deposit

    $100

    Start Trading