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In our Plus500 review, we will dig into this well-established Forex broker. We will also examine the platform, trade functionality as well as customer service. Plus500 is a CFD broker which allows investors the opportunity to trade a number of different asset classes including Stocks, commodities, indexes and ETFs.

Plus500 UK LTD is based the United Kingdom, is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 LTD Is listed on the AIM (part of the London Stock Exchange). In Europe, Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).

For Australian traders, Plus 500 AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. You do not own or have any rights to the underlying assets. Please consider Plus500 Disclosure documents available on Plus500 website.

This is quite good sign for us as these regulations are usually very strict and require brokers to be up to the highest standards.

Minimum Deposit€100
Max BonusUp to 25%, T&Cs apply
Max Leverage300:1
Support FeaturesLive Chat and Email
Demo AccountDemo
Deposit & Withdrawal MethodsVisa, Mastercard, Diners, PayPal, Bank Wire, Skrill
Account CurrenciesMost Major Currencies
JurisdictionUK, Europe, Australia, Asia, Africa and South America
Languages Available32
Investment TypesCFDs on Forex, Commodities, Indices, ETFs and Stocks
Additional ToolsRisk Management
Mobile TradingiOS, Android and Windows
FXaxe Rating

Plus500 Account Options

Plus500 has only 2 account options and prefers to keep it quite simple. These are a demo account with unlimited demo funds and the standard live trading account.

  • Demo Account. With the Demo account, you are able to trade as much as you like and get a feel for the full platform with the numerous instruments on offer. When you register your demo account, you are given €20,000 to practice trading with. There is also no time limit on the demo account so you are able to practice for as long as you like until you are fully comfortable to invest. Once your demo account balance falls below the €200 limit, you are automatically given more funds to trade with.
  • Live Account. The live account at Plus500 requires a minimum investment of €100. Although this is all one tier of account, there are a number of different bonuses which are on offer. Firstly, when you first create a trading account, you get a welcome bonus of €25 (T&Cs apply). This bonus is given to you irrespective of the amount that you decide to invest. Then, upon depositing some funds you are given a first deposit bonus up to a maximum of 25% (T&Cs apply).

Although Bonus offers sound quite appealing, it is always prudent to make sure that you understand the terms and conditions that are attached to these bonuses.

Plus500 Review Video

Deposits and Withdrawals

When you decide that you want to fund your account, you can use a number methods including via Credit Card, Skrill, PayPal and wire transfer. When using credit cards, one is able to deposit quite quickly as no payment provider accounts are required.

However, if you have a Skrill account then a payment from this provider is also as easy. You merely select to deposit your funds and your Skrill email address is requested. If you are choosing to fund your account with a wire transfer then you should allow up to 5 days for the funds to properly clear. If you are electing to send funds via wire then the minimum deposit amount is €500 and the maximum is €150k. Assuming that you have provided all the correct identification documents, withdrawal times should take the same amount of time as deposits.

Plus500 Trading Platform

The Plus500 trading platform is very powerful in terms of functionality. This allows trader to invest in over 2,000 instruments ranging from numerous different forex pairs to ETFs, Shares and Commodities in over 20 markets over the world. The platform also gets real time streaming of data from well-known data providers. It also has one click functionality for opening and closing positions as well as for setting stops and entry limits.

Web Based Platform

plus500 Review

Due to the fact that Plus500 uses CFDs, there is quite a lot of room for leverage. The leverage ratios with some of the instruments goes up to 1:300. Although this seems like an opportunity for excess returns, there is also a sizeable risk so it is important to manage your account prudently with all the adequate stops in place.

Mobile Platform

Plus500 Mobile

For PC users, the Plus500 platform comes in at least three different options. Firstly, there is the web trading platform. This allows traders to log into their accounts and trade via their browser. Secondly, traders may elect to download the Plus500 software for their PC. This connects directly to the Plus500 servers right from your desktop. This also has a lot more functionality than the web based version. When we tested the PC software, we also found that it was much faster than relying on the web based one.

Lastly, the Plus500 platform has been well optimised for mobile search. This is available for iOs, Android and Windows phones. We found the mobile application to be seamless as it was easy enough to enter trades quickly while monitoring chart movements on the same screen. This seems to be confirmed with the mobile app reviews that Plus500 was getting in both the Google Play store and the iStore. This appears to be considerably better than many other larger competitors such as IG and FXCM.

When it comes to the trading spreads, the Plus500 ones really surprised us. For example, EUR/USD is variable but it is as low as 0.8 pips. These are some of the lowest spreads that we have seen among CFD providers globally.

Unfortunately for the more technical traders, Plus500 does not offer the MT4 platform as part of their trading bundles.

Additional Tools

Plus500 Risk Tools

Something that our FXaxe team found quite interesting was the risk management tools that Plus500 included. These can no doubt come in handy when the trader is taking considerable leverage on trades. With these tools, you are able to monitor your account leverage by examining the total position value that you have on the trade and dividing that by your equity amount.

Plus500 also has easy stop loss functionality built into the platform. If you are entering a forex trade with leverage, you can adjust these stops such that you can limit your losses or realise your gains. It is important to note though, that this level is not always guaranteed. If there is a large and sudden market movement, the price may go through the stops which is termed “slippage”.

However, for a slightly greater spread, you are able to enter a guaranteed stop. What this tool does is that it guarantees that you will exit a trade once the price goes below a certain level. Therefore, there is no chance of any slippage on the account.

For both the normal stop loss and the Guaranteed stop loss, we had the option to make them “trailing”. This means that our chosen stops could be within a certain range of the current level.

Customer Service

The FXaxe team wanted to get a sense of the quality of the customer service at Plus500. True to their claims, there was indeed support available to us even at weird times of the day. We tried contacting them via live chat at 5am GMT while trading Asian time zone. We received an answer pretty quickly.

Plus500 also has dedicated Multilingual chat and email support in a number of languages. This can allow traders who’s mother tongue is not English to get support in their native language. Unfortunately, there is no dedicated telephone support provided yet.


Plus500 Atletico Madrid

Our overall impression with Plus500 was a favourable one. There are so many forex and CFD brokers in the industry now that it is hard to work your way through them. Based purely on the spreads that we were getting at Plus500, I can say that a trader could get the most bang for their buck. We also noticed that Atletico Madrid decided to sign an agreement with Plus500 for shirt sponsorship. This can be an added vote of confidence given the reputation of the club and its choice of sponsor.

There were only a few downsides that we found with Plus500. Although quite an advanced trading platform, there is no MT4 functionality. Plus500 is also does not accept U.S. and Canadian investors which is unfortunate. FXaxe has a list of approved brokers should you be from either of these countries.

Yet, if you are a CFD trader who does not live in the U.S. or Canada then we can definitely recommend Plus500. Our review found them to be well respected among online forums and their regulatory approval confirms this.

Risk Warning: your capital is at risk