Quick verdict
Good for
- Trade CFDs, including forex through CFDs, from the one account
- Multiple international markets
- No commissions
Not so great for
- No physical stock trading
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Plus500 review: Global CFD trading platform
Trade more than 2000 CFD trading instruments from the one account.
Plus500 is a well-recognised provider of Contracts for Difference (CFDs) globally, offering a number of CFD options for retail traders. With over 2000 financial instruments, Plus500 is a solid all-round trading option.
No reviews yet.
Write a review
Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
About Plus500
Headquartered in Israel, but holding licenses in multiple jurisdictions, Plus500 services clients over the world. Plus500 is a global platform in the CFD space, with a listing on the London Stock Exchange and is the official global partner of the iconic NBA professional basketball team Chicago Bulls.
If you’re a Singaporean trader, then it’s worth noting that the company’s Singapore subsidiary, Plus500 SG Pte Ltd holds a capital markets services license from the Monetary Authority of Singapore (MAS) and has an office located in Millenia Tower.
What markets can I trade with Plus500?
Plus500 offers services and options for those looking to trade CFDs. 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:
- Stocks CFDs. Singapore and global stock CFDs are available from over 20 different countries. This includes stocks listed on exchanges in the United States, Germany, the UK, France and more. Some of the most popular stock market CFDs are CapitaLand, Keppel, SGX, Facebook, Apple and Alphabet.
- Forex CFDs. You can trade foreign exchange markets (forex) on the Plus500 platform through CFDs and pay no commissions on your activity. You can access leverage up to 1:20 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 Singapore 25, 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.
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 and forex on the one platform
You’ll have access to more than 2000 tradable markets, including local/international stock market CFDs, forex through CFDs, 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, 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 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.
Singapore regulated broker
Plus500 (Plus500SG Pte Ltd) is licensed in Singapore by MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018) and follows strict regulatory requirements in order to remain. This includes all client funds being held in a segregated trust account and cannot use them for hedging purposes.
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 are the spreads and fees from Plus500?
- Market spread. Plus500 makes money through its buy and sell (or bid and ask) spread. This spread is usually included in the rate you’re quoted rather than being a separate fee on top of the quoted rate. The spread is variable between products.
- 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 “Details” section in the Plus500 platform to see the daily overnight funding percentage and funding time.
- Currency conversion fee. If you trade in a currency that’s different to the currency in your account, you will be charged a currency conversion fee. This fee can be up to 0.7% of the net profit or loss. This fee is subject to change so be sure you check before trading.
- Guaranteed stop order. In order to manage your risks, you can request a guaranteed stop order at a specific rate, guaranteeing that you won’t close any lower than your specified rate. You’ll pay a wider spread for this order.
- Inactivity fee. In the event that your trading is inactive for at least 3 months, you will incur a fee of US$10, charged once each month going forward until you log into your account. This is to offset the cost incurred in making the service available to you, even though it’s not being used.
- Forex conversion fee. While deposits and withdrawals are free, in some instances, you may be charged a forex conversion fee when using an international credit or debit card to transfer a currency that isn’t supported.
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 both stock market CFDs and forex market CFDs.
- You can trade multiple international markets. With Plus500, you’re not limited to the Singapore market and 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. For Singaporeans who are new to trading CFDs, 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 specialise in CFD trading. You can not buy and own physical stocks 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, simply click on ‘Start Trading’ button on the Plus500 website and fill out 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.
How do I contact support?
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 reach its support team through the following contact details:
- Live chat and email: Available 24/7 from the ‘contact us’ section of Plus500’s website.
Frequently asked questions
Important information: Powered by finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. 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 most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
