Plus500 Reviews: How it Works, Pros & Cons! [2024]

Plus500 is one of the best brokers offering trading in various markets such as CFDs, equities and futures: it is an intermediary that has been in the market for many years and allows you to trade on a multitude of assets, from commodities to stock indices to shares for several years.

Plus500 software is easy to use: charts provide a greater understanding of market trends. Plus500 has also launched a fantastic feature called: “+ Insights” for desktop and mobile, which allows users to learn more about market trends, thanks to the company’s unique internal data. It has also the following features:

• ‘Insights’ is a tool based on trend exploration
• Instrument + Insight Tab’ is a tool that allows users to drill down into the data of each instrument
• ‘+Me’ reveals trading preferences, use of risk management and how they compare to other Plus500 traders.

Additional benefits for those trading with Plus500 include:

• fast and reliable order execution
• no hidden fees and low spreads
• advanced analytical tools
• real time prices
• fast and secure withdrawals
• alerts: receive emails, text messages and push notifications in real time
• checklists: users can manage multiple favourite lists
• real-time alerts: users can choose to receive free alerts on set price changes, percentage changes (daily or hourly) and trader sentiments
• free rollover adjustment: allows users to continue to hold the same position on CFDs on commodities and indices after the futures contract reaches its expiry date.

Is Plus500 a safe broker?

Conducting a review of Plus500 is not easy if you have to rely solely on opinions. The more popular the broker, the more reviews and opinions there are on the net!

This is precisely why we are aiming for a review of Plus500 and not just a collection of opinions. Without going into detail, and just to clear the field of any misunderstanding, let’s say that Plus500 is not a scam, but is a regulated and safe broker: Plus500CY Ltd is authorised and regulated by CySEC (authorisation number 250/14) for Europe, and by the corresponding regulatory bodies for other countries (e.g. ASIC for Australia). Plus500 is headquartered in Israel.

We also note that Plus500 is listed on the London Stock Exchange and Plus500 Ltd shares are normally traded on the UK Stock Exchange, it is also a broker listed on the LSE Main Market.

Markets available on the Plus500 software

Plus500’s success also comes from the wide range of assets available for CFD trading. The broker allows you to trade stocks, stock indices, Forex and cryptocurrencies. In more detail, the markets available at Plus500 are as follows:

• Stock indices
• Forex (over 65 currency crosses available, including many exotic pairs)
• Commodities
• Cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin, Dash
• ETFs
• And much more!

With Plus500 it is possible to trade in other markets outside of CFDs. In fact, Plus500 has launched an investment platform called Plus500 Invest, which provides equity management of over 2,700 financial instruments, FREE market data and dedicated 24-hour customer support.

>>> Register for Free at Plus500 <<<

Plus500 trading software

An important aspect to consider when reviewing Plus500 is its trading software. Along with the assets that you can trade on, the platforms are one of the most important elements to consider when making an overall assessment.

Reading through the various opinions on Plus500, you will notice that many users insist on the simplicity and immediacy of the Plus500 Webtrader. There are two ways to use this platform: download and direct login. Downloading is recommended if you intend to use Plus500 on an ongoing basis. In other cases, simple direct access is also fine.

To start Webtrader, you need to register and then create an account. Access to the platform is automatic and instantaneous. The various opinions of Plus500 tend to emphasise just this, namely the fact that with Plus500 you can start opening your trading positions immediately.

The layout of Webtrader is intuitive and schematic. According to many traders, the interaction between the trading and analysis area on Webtrader is not the best, but it is clear that this aspect has been sacrificed in the name of efficiency.

In other words, the experience that is provided by this software is immediate and almost instantaneous. Access to the trading area is much faster than on other platforms. However, this is only possible because there are not so many functions available. Only the essentials are present on Web Trader.

The Plus500 software is also accessible via the mobile app, which is compatible for both Android and iOS devices.

Leverage at Plus500

CFD trading is a leveraged activity: this tool allows you to invest a greater amount of money than you have. Remember, however, it is not just the gains that will be magnified, but also the losses.

For example, if you use a leverage of 1:100 (only available to professional traders, however. For retail traders, the maximum leverage is 1:30) means that under that single euro that is actually invested, you are moving as much as 100 euro!

Thanks to leverage, therefore, it is possible to make gains beyond one’s capabilities but also to make very large losses, because leverage can lead to the loss of your entire capital. This is precisely why it is always necessary to look at the leverage offered by the broker. With each asset having its own leverage, it is always necessary to look at the conditions offered by Plus500. The leverage conditions page is clear and is constantly being updated.

Plus500 Demo: How to open a Free Demo Account

The best way to get an idea of the advantages and disadvantages of Plus500 is to open a demo account. Like all CFD Trading brokers, Plus500 is happy to use a demo account to understand how the Webtrader works. The Plus500 demo account is absolutely free and can be used with no time limit. This means that if the user is a novice trader, there will be no limits to their activity in demo mode.

Very important is the fact that with the Plus500 demo account, all trades can be made that would normally be made with a real account. So there is plenty of freedom of choice, with the guarantee that you are not putting your capital at risk.

The Plus500 demo account can be opened immediately and is unlimited. In addition, users can configure the balance of their demo account by setting the desired amount without contacting customer support, and without clearing the account history.

Plus500 users are now able to independently set their demo account balance up to €40,000, or the equivalent in the currency of their trading account. This new feature allows users to customise their trading experience while using the Plus500 demo account to better reflect their investment volume targets.

In addition, users are able to completely reset their demo account, including the history, so that they can repeat the experience an unlimited number of times to try out different trading strategies.

To switch from your Demo Account to your Plus500 Real Account, you simply need to select the appropriate function and, of course, fund your account. Plus500 always allows you to switch from your Demo Account to your Real Account and vice versa. This is an important option as you may always want to learn new features without the risk of making operational errors. With the exception of a few cases, subject to broker approval, you cannot have more than one live account at Plus500.

Plus500 Minimum Deposit

One of the aspects that has the greatest impact on a broker’s overall rating is the minimum deposit requirement. On this point, Plus500’s policy is in line with that of other brokers.

The minimum deposit required at Plus500 is €100. According to some, such a low deposit is almost a disincentive to more experienced traders. In reality, we can say that these investors do not pay the slightest attention to this aspect, which is important for beginners!

>>> Open a demo account at Plus500 <<<

How to Deposit and Withdraw at Plus500

To make a deposit and start trading with Plus500 you need to, once logged in, click on Fund Management and then Deposit. You then need to select your preferred deposit method from the available options. The next step is to complete the various fields. It is important to remember that each deposit method has a minimum level. The following options can be used to deposit to your Plus500 account:

• Debit/credit cards: Visa or MasterCard only
• E-wallets (PayPal or Skrill).
• Wire transfer
• Apple Pay
• Other local payment methods, available for different countries

Once you have deposited money in your account, you can immediately start trading. According to the reviews of Plus500 on the web, depositing money into your account is straightforward.

Withdrawing at Plus500 is equally simple. As far as this aspect of the review is concerned, the guiding principle is that the money placed in your account is always available. You can therefore withdraw at any time, and the money will be credited to the same card you used to make the deposit.

There are no fees for withdrawals and, more importantly, the request is processed within a maximum of 1 business day. This means that the trader will be credited within 1 day. This is a strength of Plus500, as many other brokers have (more or less explicitly) longer processing times.

Plus500 Customer Support

Plus500’s customer service is rated positively by traders. The same argument that has been made previously for other areas also applies to its absence: few channels available but much immediacy and speed in service delivery!

There are now multiple avenues available to contact Plus500: email, chat and even WhatsApp. To those who might complain about the paucity of means, we would reply immediately that to think of activating other channels, considering that the service is offered in 32 languages(!) is almost utopian. To contact Plus500 support, there is no need to wait for office hours. The service is available 24 hours a day, 7 days a week.

Opinions on Plus500

Plus500 is not a broker that we recommend to all traders. If you do not have the patience to rely on external tools, such as charting or education, then perhaps it is better to use another broker, such as eToro.

In fact, with Plus500 traders have a lot of useful information at their disposal in the Trading Academy, such as eBooks, educational videos, and an in-depth FAQ section. Thanks to all this, the success of Plus500 is undeniable.

The success stems from the fact that what for some may be intense as a disadvantage of Plus500 is actually its great advantage! The reference is obviously to the Webtrader platform, simple, straightforward, essential. In the face of such a tool and the security that the broker has always guaranteed on its accounts, even the disadvantages (such as the little weight given to training) take a back seat.

If you would like to test Plus500 and learn more about the many features of the broker, all you need to do is open a no obligation demo account. This will give you the opportunity to become familiar with all the platform features available.

Open your Plus500 demo account today and start trading with a reliable broker. You will find that there are many assets available and you can vary your trading strategy!