Plus500 Broker Review


Bonus
AU$30 Welcome Bonus(applicable only in UK, Germany, Australia, New Zealand, and South Africa.)
Minimum Deposit
$100
Regulators
ASIC, CySEC, FCA
EURUSD Spread
2 Pips
US Traders
No
Platforms
Founded
2008

Plus500.com only accepts non-U.S. customers.

  • Your capital is at risk
  • Plus500 is a CFDs service

Plus500 Corporate History

Plus500.com is a world class online forex broker based in the UK. Since 2009. Plus500 has headquarters in Israel and Plus500UK is headquartered in England and is authorized and regulated by the British Financial Conduct Authority.

Broker Features

Plus500.com offers customers its own proprietary multi asset trading platform. This allows a non-US online forex trader the possibility of trading CFDs on commodities, stocks, indexes, ETFs. Another attractive feature of Plus500.com is their “Welcome bonus – AU$30, T&Cs apply; First deposit bonus – up to AU$10000, T&Cs apply.”

The amount for opening a live account at Plus500 requires a minimum initial deposit of $100 and accounts can be funded through Visa/MasterCard, MoneyBookers or through a wire transfer. The maximum leverage on Plus500 accounts is 1:300. Keep in mind the higher the leverage, the greater the risk, so keep it as low as possible.

Plus500.com makes their commissions on the dealing spreads, which are two pips for EUR/USD.

Trader Accounts

Plus500.com offers customers two types of accounts:

• Live account – minimum deposit $100
• Free demo trading – this type of demo trading account has an unlimited use time and comes complete with a trading platform and charting software.
Transactions

Deposits

• Several options for funding an account
• Credit card transfers from Visa and MasterCard.
• MoneyBookers cash transfers
• Wire transfers from banks or other institutions

Withdrawals

• Customers must provide proof of identification to withdraw funds
• Takes up to 24 hours for the customer’s identifying documents to be reviewed

Risk disclaimer: Forex trading involves substantial risk of loss and is not suitable for all investors. You may lose more than your initial investment.

Trading Platforms

Plus500.com offers clients a great proprietary trading platform, which is can run on Windows XP, Windows Vista and Windows 7 operating systems. The platform comes in three different formats: a web based version, accessible from any PC, a downloadable version that clients can download directly to a desktop or laptop computer and a mobile version for use with cellphones and other personal devices.

The trading platform also includes charting software and an all inclusive trading screen. The multi asset trading platform includes real time quotes and the ability to trade commodities such as oil, silver and gold, stocks, indexes, CFDs and ETFs. Tabs on the top of the screen allow access to historical trades and current positions.

The Plus500.com trading platform has the same features and presentation across all three versions, facilitating trade entry and execution from any cell phone or computer. Plus500.com, however does not offer support for other third party trading platform such as MetaTrader 4.

Customer Support

Plus500.com offers customers fax and e-mail support 24/7 in multiple languages, however, online chat and telephone support are not available.

Educational

– Plus500.com offers some basic forex trading material, for more in depth market education material other sources are advisable. The unlimited demo account can provide ample market experience and a hands on market education.

Safety

Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14).
Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on Plus500’s websites. 

Conclusion

Plus500.com may not be the largest online forex broker, but they offer a great trading platform accessible from your cell phone and just about any Internet computer. Also, Plus500.com gives non-U.S. traders the ability to access much more than just the forex market, and the company is Authorised and regulated by the Financial Conduct Authority, thereby providing customers with added fund security.

Furthermore, their customer service department responds quickly via e-mail and Plus500.com has an online chat feature though they do not list a phone number. If communication via e-mail or chat is acceptable, this broker makes a good overall choice for seasoned traders alike.