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Plus500 Ireland review: Global CFD trading platform

Trade more than 2000 CFDs and forex instruments from one account.

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warning iconWarning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

Plus500 as an online broker to trade CFDs

Name Product What you can trade Available Markets Link
Plus500
Shares, commodities, forex, indices, cryptocurrencies
US, UK, AU, DE, FR, IT, PT, GR, JP, SG, ZA, NL, FI, BE, DK, SE, CH, ES, AT, NO, HU, CZ, IE, PL, HK
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76.4% of CFD accounts lose money
More Info
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.
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Quick verdict

Good for
  • Trading CFDs and forex
  • Accessing multiple international markets
  • No-commission trades
Not so great for
  • Physical share trading (not available)

Plus500 background

Headquartered in Israel, Plus500 services clients from all over the world—including Ireland. Plus500 is a global powerhouse in the CFD and forex trading space, with a listing on the London Stock Exchange and a front of shirt sponsorship with football giants Atletico Madrid.

In Europe, Plus500 holds a licence in Cyprus under Plus500CY Ltd and is regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).

What are the key features of a Plus500 CFD trading account?

These are the features that you’ll probably find with a Plus500 CFD and forex trading account in Ireland:

Trade CFDs and forex on the one platform

You’ll have access to more than 2000 tradable markets, including local/international share market CFDs, forex, indices, commodities and cryptocurrency markets. You’re able to trade them either long and short on margin.

Trading account accessibility

You can access your Plus500 trading account in multiple ways, including a cloud-based trading platform, desktop platform, smartphone apps (iOS and Android) and even dedicated tablet apps (iOS and Android). Trade your way, wherever you may be.

Free demo account

Using pretend money, you can learn how to effectively trade CFDs and forex before committing your own money on a live account. There is no time limit for how long investors in Ireland can use the demo account, which subjects you to real market conditions so that you can see how well your strategies work.

Advanced trading tools

A number of tools are accessible on the Plus500 trading platform to help you manage your risk in the markets. These include stop-loss orders, stop-limit orders, trailing stop orders, limit setting, price alerts and guaranteed stops.

No commissions

Plus500 doesn’t charge commissions on trades, instead running a spread only model that ensures traders’ costs are clear when they enter and exit trades. The spread is variable and up-to-date prices are always streamed live to your trading platform.

What markets can I trade with Plus500?

Is CFD trading for me?

CFDs are complex, much more so than buying shares or general investment. In general, it’s all about speculating rather than owning, but it’s very risky. If you’re quite new to the trading game, it might not be suitable for you and you may want to do some research into it first. If you’re not prepared to lose the money you invest, this isn’t for you.

Plus500 offers services that could suit a range of investors in Ireland. Once you sign up, you will have access to:

  • Shares CFDs. Global share CFDs are available from over 20 different countries. This includes shares listed on exchanges in the United States, Germany, the UK, France and more. Some of the most popular share market CFDs are Facebook, Apple and Alphabet.
  • Forex CFDs. You can trade foreign exchange markets (forex) on the Plus500 platform and pay no commissions on your activity. You can access leverage up to 1:300 and even test your strategy across multiple currency pairs on a demo account before going live.
  • Index CFDs. There are dozens of indices to trade using the Plus500 platform, acting as a key diversification for your investments. Pick from the USA 500, the UK 100 and many more.
  • Commodities CFDs. Trade a number of commodity market CFDs on leverage. Popular commodities markets available on the Plus500 platform include gold, silver and oil.
  • ETF CFDs. Trade CFDs that track the price of some of the most popular Exchange Traded Funds (ETFs) such as the iShares MSCI Ireland ETF. Access ETF markets with low spreads and free stops and limits on all ETF CFD orders.
  • Options CFDs. Call or put option CFDs are available on markets such as the Dax 30, S&P 500, CAC 40, MIB 40, and the AEX 25. No commissions are charged as you’re still trading CFDs and not holding the underlying asset itself.
  • Cryptocurrency CFDs. Plus500 lets you trade a wide range of cryptocurrency CFDs. Features of the trading platform including price alerts, stop loss and trailing stop orders, are also well suited to the volatile nature of cryptocurrency, all there to help you manage risk.

What customer support and information is available from Plus500?

If you are having an issue with your Plus500 account, their comprehensive FAQ page should be able to help solve your problem. If your issue requires a more personalised response, you can email Plus500 or access a live chat conversation.

As for market data itself, up-to-the-minute prices and spreads can be accessed through your online trading platform 24 hours a day, 5 days a week. It’s all easily accessible in one place.

What are the spreads and fees from Plus500?

  • No commissions. Unlike other CFD and forex brokers in Ireland that charge commissions on each trade, Plus500 does not charge commissions on trades. The only related costs involve the spread, which is variable between products and always displayed within your trading platform.
  • Holding a trade overnight. As is standard practice, an overnight funding amount is either added to or subtracted from open trades when holding a position overnight. Check the ‘Overnight Funding Time’ on the market details within your trading platform.
  • Inactivity fee. In the event that your Trading Platform is inactive for three months, you will incur a fee. This is to offset the cost incurred in making the service available to you, even though it’s not being used.

What are the pros and cons of trading with Plus500?

Pros

  • Range of markets to trade. Opening an account with Plus500 in Ireland gives you access to a broad range of investments, including both share market CFDs and forex market options.
  • You can trade multiple international markets. With Plus500, you can invest in various markets all over the world.
  • There are low fees. There is no sign-up or ongoing fees for using the Plus500 platform. Trading costs are also covered within the spread, meaning no commissions.
  • Free demo access. If you’re new to trading CFDs and forex, a free Plus500 demo account can help you to understand how it works before risking your own money.

Cons

  • Not a multi-asset platform. Plus500 specialises in CFD trading. You cannot buy and own physical shares through this platform.
  • There’s limited physical support. Plus500 only has email and online chat services.

How do I open an account with Plus500?

If you’re ready to open a CFD or forex trading account with Plus500 in Ireland, click on ‘Start Trading’ button on the Plus500 website and complete the sign-up form.

While accessing a demo account will take you 30 seconds with a name and email address, in order to open a live account, you’ll need to provide:

  • Your name
  • Your contact details
  • Government-issued ID
  • Proof of residential address
  • Details of your chosen deposit method

Once your account has been approved by the Plus500 account services team, you will then be able to fund your account.

Plus500 frequently asked questions?

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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