Quick verdict
Good for
- Easily trade CFDs from one account
- Multiple international markets
- No commissions
Not so great for
- No physical share trading
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Plus500 review: Global CFD trading platform
Trade more than 2,000 CFDs on shares, indices, forex, and more, from one account.
A leading provider of Contracts for Difference (CFDs), Plus500 offers CFDs on forex and other instruments for retail customers. With over 2000 financial instruments including CFDs on shares forex, indices and commodities available, Plus500 is a solid all round trading option.
Plus500 is accessible via your online browser and iOS/Android mobile phones. Plus500 has one of the highest ratings for CFD trading apps on Apple’s App Store and Google Play, thanks to its user-friendly and innovative features.
Important: This broker offers CFDs which are a leveraged product and can result in the loss of your entire capital. Most retail client accounts lose money trading CFDs. Please ensure you fully understand the risks involved.
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Headquartered in Israel, but holding licenses in multiple jurisdictions, Plus500 services clients the world over. Plus500 is a global powerhouse in the CFD trading space, with a listing on the London Stock Exchange and a front of shirt sponsorship with football giants Atletico Madrid.
Plus500AU Pty Ltd (ACN 153301681), is licensed by ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website for more.
What are the key features of a Plus500 CFD trading account?
The following features of the Plus500 CFD trading platform will help you make a decision on whether they’re the right broker for you.
Trade CFDs across thousands of markets on the one platform
You’ll have access to more than 2,000 tradable markets, including CFDs on local/international share markets, forex, indices, commodities and cryptocurrency markets. You’re able to trade them all long and short on margin.
Trading account accessibility
You can access your Plus500 trading account in multiple ways, including a cloud based trading 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 before committing your own money on a live account. There is no time limit for how long you 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.
New Zealand regulated broker
Plus500 is licensed in New Zealand with the Financial Markets Authority (FSP #486026). Bear in mind that you do not own or have any rights to the underlying assets. See the disclosure documents available on the Plus500 website for more.
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?
Plus500 offers services and options that will please practically every type of investor. Through the Plus500 trading platform, you are able to gain access to financial market data including real-time data to help guide your trading decisions. Once you have been signed 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 Telstra, Woolworths and Facebook.
- 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 1:30 and even test your strategy across multiple currency pairs on a demo account before going live.
- Index CFDs. There are dozens of indices available to trade on the Plus500 platform, acting as a key diversification for your investments. Pick from the Australia 200, the S&P 500, the Italy 40 and many more.
- Commodities CFDs. Trade a number of commodity market CFDs on leverage, with an account as small as $200. 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 VXX volatility index. 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 simply start an instant live chat conversation, both directly from the “contact us” section of their website.
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 the one place.
What are the spreads and fees from Plus500?
- No commissions. Unlike other CFD brokers that also charge commissions on each trade, Plus500 does not charge commissions on trades, only the spread. The spread is variable between products, with up-to-date spreads 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 of US$10. 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 gives you access to a broad range of investments, including CFDs on shares, forex and more.
- 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. Sign up for a free demo account before risking your own money.
Cons
- Not a multi-asset platform. Plus500 specialise in CFD trading. You can not buy and own physical shares through this platform.
- There’s limited physical support. You are limited in expert support and advice with Plus500 compared to other online brokerage firms. It only has email and online chat services.
How do I open an account with Plus500?
If you’re ready to open a CFD trading account with Plus500, you’ll need to fill out the sign up form on the Plus500 website.
To open a demo account you will only need an email address and password. In order to open a live account, you’ll also need to provide:
- Your name
- Your contact details
- 100 points of ID
- 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.
CFD Service. Your capital is at risk.
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.
CFDs are complex financial products and traders are at high-risk of losing all or more than their initial investment.
