If you’re searching for an honest Plus500 review, you’ve come to the right place. In this detailed guide, we’ll cover everything you need to know about Plus500, including its features, fees, pros and cons, and whether it’s a good choice for traders in 2024.
By the end of this review, you’ll have a clear understanding of whether Plus500 is the right platform for your trading needs.
Plus500 Overview
Plus500 is a popular CFD (Contract for Difference) trading platform founded in 2008. It allows users to trade a wide variety of financial instruments, including:
- Stocks (Apple, Tesla, Amazon, etc.)
- Forex (EUR/USD, GBP/USD, etc.)
- Commodities (Gold, Oil, Silver)
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin)
- Indices (S&P 500, NASDAQ, FTSE 100)
- ETFs & Options
The platform is known for its user-friendly interface, low fees, and strong regulatory compliance. It is regulated by top financial authorities, including:
- FCA (UK)
- ASIC (Australia)
- CySEC (Cyprus)
- MAS (Singapore)
This makes Plus500 a safe and trusted choice for traders worldwide.
Key Features of Plus500
1. Easy-to-Use Trading Platform
Plus500 offers a simple and intuitive platform, making it ideal for beginners. The web-based and mobile apps (iOS & Android) allow smooth trading with real-time charts and tools.
2. Low Fees & Tight Spreads
Unlike traditional brokers, Plus500 does not charge commission fees. Instead, it makes money through spreads (the difference between buy and sell prices). The spreads are competitive, especially for major forex pairs and indices.
3. Demo Account (Free Practice Trading)
New users get a free demo account with virtual funds (up to $40,000). This is perfect for beginners who want to practice trading risk-free.
4. Leverage Trading
Plus500 offers leverage (up to 1:30 for retail traders under EU regulations and higher for professional traders). While leverage can increase profits, it also raises risks, so caution is advised.
5. Risk Management Tools
The platform includes useful tools like:
- Stop Loss – Automatically closes a trade at a set loss level.
- Take Profit – Locks in profits when a trade reaches a target price.
- Guaranteed Stop Loss – Ensures your position closes at the exact price you set (available for some instruments).
6. No Hidden Fees
Plus500 is transparent with its pricing. There are no deposit/withdrawal fees for most payment methods, and no inactivity fees (after 3 months of no trading).
Pros & Cons of Plus500
✅ Pros:
✔ Regulated & Safe (FCA, ASIC, CySEC licensed)
✔ User-friendly platform (great for beginners)
✔ No commission fees (only spreads)
✔ Free demo account (practice trading)
✔ Wide range of trading instruments (stocks, forex, crypto, etc.)
✔ Fast withdrawals (usually processed within 1-3 days)
❌ Cons:
✖ No MetaTrader (MT4/MT5) support – Uses its own proprietary platform.
✖ Limited educational resources – Not ideal for traders who need in-depth learning materials.
✖ No phone support – Customer service is via email/live chat only.
Is Plus500 Legit or a Scam?
Plus500 is a legitimate and regulated broker trusted by millions of traders. It is listed on the London Stock Exchange (LSE: PLUS), which adds to its credibility.
However, CFD trading is risky, and many traders lose money due to leverage. Always trade responsibly and never invest more than you can afford to lose.
Plus500 Fees & Charges
Here’s a breakdown of Plus500’s fees:
| Fee Type | Details |
|---|---|
| Spreads | Low spreads (e.g., 0.6 pips on EUR/USD) |
| Overnight Funding | Small fee for holding positions overnight |
| Inactivity Fee | $10/month after 3 months of no trading |
| Withdrawal Fee | Free (except for bank transfers in some cases) |
How to Open a Plus500 Account (Step-by-Step)
- Sign Up – Visit Plus500’s official website and click “Start Trading.”
- Verify Identity – Submit ID and proof of address (required by law).
- Deposit Funds – Minimum deposit is $100 (varies by region).
- Start Trading – Use the demo account or trade with real money.
Final Verdict: Is Plus500 Worth It?
Plus500 is a great choice for:
- Beginners (easy-to-use platform, free demo account)
- CFD traders (wide range of instruments, low fees)
- Mobile traders (smooth iOS/Android app)
Not ideal for:
- Advanced traders (lacks MT4/MT5, limited analysis tools)
- Long-term investors (CFDs are best for short-term trading)
Rating: 4.3/5 ⭐⭐⭐⭐☆
FAQ About Plus500
1. Is Plus500 good for beginners?
Yes! Its simple platform and free demo account make it beginner-friendly.
2. Can I withdraw money easily from Plus500?
Yes, withdrawals are fast (1-3 days) and usually free.
3. Does Plus500 accept PayPal?
Yes, Plus500 supports PayPal, credit/debit cards, and bank transfers.
4. Is Plus500 available in the USA?
No, Plus500 does not accept US traders due to regulatory restrictions.
5. What is the minimum deposit for Plus500?
The minimum deposit is $100 (or equivalent in other currencies).
Conclusion
Plus500 is a trusted, regulated, and user-friendly CFD trading platform. While it may not suit advanced traders, it’s an excellent choice for beginners and intermediate traders looking for a simple way to trade stocks, forex, crypto, and more.
👉 Ready to try Plus500? Sign up here and start trading today!
Disclaimer: CFDs are complex instruments with a high risk of losing money. 72% of retail investor accounts lose money when trading CFDs. Ensure you understand the risks before trading.
