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Plus500 review: Global CFD trading platform

Trade more than 2000 CFD and forex trading instruments from the one account.

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R0

Minimum Opening Balance

CFDs

What you can trade?

Email, Phone

Support

Details

Product NamePlus500
CFD ProductsIndices, currencies, commodities, cryptocurrencies, shares, options, ETFs
Local commissionR0
Minimum Trade SizeR1,500
PlatformsPlus500 Trading Platform
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More Info

Quick verdict

Good for
  • Easily trade CFDs and forex from one account
  • Multiple international markets
  • No commissions
Not so great for
  • No physical share trading

Plus500 as an online broker

Headquartered in Israel, but holding licenses in multiple jurisdictions, Plus500 services clients all over the world. Plus500 is a global platform in the CFD trading space, with a listing on the London Stock Exchange.

Plus500 (Plus500AU Pty Ltd, ACN 153301681) is licensed by ASIC in Australia (AFSL #417727), FMA in New Zealand (FSP #486026) and 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 website.

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 platform for you:

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 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 and forex 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.

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. In general, it’s all about speculating rather than owning, so 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 trade, this isn’t for you.

Plus500 offers services that suit a range of different investors. Through the Plus500 trading platform, you’ll gain access to real-time financial market data to 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 CapitaLand, Keppel, SGX, Facebook, Apple and Alphabet.
  • Forex CFDs. You can trade foreign exchange markets (forex) through CFDs 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 Singapore 25, the S&P 500, the Italy 40 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 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 access a live chat conversation from the “contact us” section of their website. You can also access customer support via WhatsApp.

As for market data itself, real-time 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?

  • 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 share market CFDs and forex market options.
  • You can trade multiple international markets. With Plus500, you can trade 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.
  • Negative balance protection. Plus500 offers negative balance protection for investors in South Africa. This way, your losses cannot go beyond your existing account balance.
  • Guaranteed Stop on CFD trading. With Guaranteed Stop, your order will be guaranteed to close at the price you’ve selected without any deviations.

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. You are limited in expert support and advice with Plus500 compared to other online platforms. It only has email and online chat services, and no South African phone number for support.

How do I open an account with Plus500?

If you’re ready to open a CFD trading account with Plus500, 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. Do note that Plus500 requires a minimum deposit of ZAR 1500.

Compare with other brokers

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Name Product Number of Stocks CFDs Shares Markets
AvaTrade
Access to global markets
Yes
No
Worldwide with exception.
CFD Service. Your capital is at risk.
Trade over 1,200 instruments online with Avatrade, including stocks, cryptocurrencies, forex, commodities and indices. The minimum deposit with Avatrade is US$100.
Plus500
2,000+
Yes
No
Worldwide with exception.
CFD Service. Your capital is at risk.
Trade over 2,500 financial instruments with one of the largest CFD providers in the world.
Zacks Trade
Access to global markets
No
Yes
US, CA, MX, AT, BG, FR, DE, IT, NL, ES, NO, SE, SW, UK, HK, JP, SG, RU, AU
Trade stocks, bonds, ETFs, options, and more on 90+ international exchanges. Offers customizable trading platforms with over 120 technical indicators for your charting needs.
Eightcap
Access to global markets
Yes
No
UK, DE, AU
CFD Service. Your capital is at risk.
Trade a wide variety of instruments on the award-winning MT4/5 platforms with this Australia-based CFD and forex broker.
Firstrade
Access to US stocks
No
Yes
US
CFD Service. Your capital is at risk.
Enjoy $0 commission trading for stocks, options, funds, and more with this internationally-acclaimed discount broker.
CM Trading
N/A
Yes
No
US, FR, DE, UK, AU, ZA, CH. HK, JP, ES, NL, IT
CFD Service. Your capital is at risk.
Licensed international brokerage and CFD provider that offers advanced trading solutions designed for both new and experienced traders alike.
Exness
N/A
Yes
No
CH, VN, TH, PH, SG, ID, IN, UAE, ZA, SA, EG, BR, CR, MX
CFD Service. Your capital is at risk.
Enjoy fast trade executions at competitive fees with this award-winning retail forex broker.
Interactive Brokers
Access to global markets
No
Yes
US, MX, RU, ES, UK, DE, IL, HK, SG, IN, KR, AU, CH, HU, CA
CFD Service. Your capital is at risk.
Take advantage of low trading fees, multiple platform support, and an extensive list of asset classes across global markets, including stocks, options, futures, forex, bonds, and funds.
Capital.com
N/A
Yes
No
US, UK, DE, NL, ES
CFD Service. Your capital is at risk.
Access over 6,000 index, commodity, crypto, and share markets with Capital.com.
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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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