Trading with Plus500 Simple strategy that is efficient

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Plus500 Review 2020

Summary

Recommended for experienced traders looking for an easy-to-use platform and a great user experience

Plus500 is a London Stock Exchange-listed global CFD and FX broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Plus500 is considered safe because it is listed on a stock exchange, discloses its financials and is regulated by several top-tier financial authorities.

Disclaimer: 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.

Disclaimer for daytraders: At Plus500, scalping is defined as “A trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.” If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.

Plus500 pros and cons

Plus500 has a simple, easy-to-use trading platform, with an especially well-designed mobile platform. The account opening process is fully digital and seamless. Trading fees are low.

On the negative side, Plus500 has limited product portfolio, consisting only of CFDs and forex products. Some standard research tools, like recommendations and fundamental data are not available. The educational section still needs improvement.

Pros Cons
• Easy-to-use platform • Limited product portfolio, only CFDs & forex
• Low trading fees • Minimal research tools
• Listed on the London Stock Exchange • Mid-range educational section
Plus500 main features and highlights
��️ Country of regulation UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $100
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 10
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Plus500 review
Fees

Plus500 has low trading fees and average non-trading fees. Even if they have an inactivity fee, it is applied only if you are not logging in at all.

Pros Cons
• Low trading fees • Inactivity fee
• No withdrawal fee
Plus500 fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.45 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 1 is the average spread cost.
EURUSD Average The fees are built into spread, 0.6 pips is the average spread cost.
Inactivity fee Low $10 per quarter after 3 months of inactivity

How we ranked fees

We ranked Plus500’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Plus500 for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

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We also compared Plus500’s fees with those of two similar brokers we selected, eToro and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Plus500 alternatives.

To have a clear overview of Plus500, let’s start with the trading fees.

Plus500 trading fees

Plus500 trading fees are low.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for Plus500 fees.

CFD fees

Plus500 has generally low CFD trading fees.

There is no commission: everything is included in the spread, i.e. the difference between the ask and bid prices.

Plus500 CFD fees for a $2,000 long position held for one week

Plus500 eToro XTB
S&P 500 CFD benchmark fee $2.1 $2.4 $2.0
Europe 50 CFD benchmark fee $1.3 $2.7 $2.2
Apple CFD benchmark fee $8.9 $6.3 $17.9
Vodafone CFD benchmark fee $7.6 $20.9

Forex fees

Plus500 forex fees are average. Again, no commission, everything is included the spreads.

Plus500 forex benchmark fees of a $20,000 30:1 long position held for one week

Plus500 eToro XTB
EURUSD benchmark fee $17.9 $19.6 $15.0
GBPUSD benchmark fee $14.0 $16.2 $11.1
AUDUSD benchmark fee $12.6 $12.4 $10.0
EURCHF benchmark fee $9.0 $11.8 $6.6
EURGBP benchmark fee $14.6 $19.9 $9.9

Non-trading fees

Plus500 has average non-trading fees.

Plus500’s withdrawal fee conditions are favorable: there are five free withdrawals per month, after which the withdrawal fee is $10. However, Plus500 will also charge you $10 if you withdraw less than the minimum withdrawal amount of $100. The cost for withdrawals by bank transfer is a fixed $6. There is also a high inactivity fee of $10 per quarter after 3 months of inactivity. At the same time we have to share, you can save the inactivity fee with a simple login to the platform. In the case of other brokers, we’ve tested skipping inactivity fee regularly tied to trading not only login.

Plus500 non-trading fees

Plus500 eToro XTB
Account fee No No No
Inactivity fee Yes Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $25 $0

Plus500 review
Account opening

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.

Pros Cons
• Fast None
• Fully digital
• Low minimum deposit

Can you open an account?

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76.4% of retail CFD accounts lose money

Plus500 accepts customers from many countries all around the world. However, there are some notable exceptions: for example, residents of the US and Canada can’t open an account, while other countries such as Cuba, Iran and Syria are also excluded.

What is the minimum deposit at Plus500?

The Plus500 minimum deposit is $100 for debit/credit cards and electronic wallets, and $500 for bank transfers.

Account types

Plus500 has only one account type.

How to open your account

If you want a fast and digital account opening process, Plus500 is your broker. You can easily open your trading account within a day.

After the online registration, you have to verify your identity and provide proof of residency. You can upload a copy of your ID or passport for verifying your identity, and a bank statement or utility bill for verifying your residency.

Plus500 review
Deposit and withdrawal

Plus500’s deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.

Pros Cons
• Credit/Debit card available None
• No deposit fee
• Five withdrawals per month free

Account base currencies

At Plus500, there are several currencies available, even minor ones, but it is not transparent how many and which ones. You need to contact support if you wish to change your base currency. However, make sure you do this before depositing money to your account.

Base currencies at Plus500 vs similar brokers

Plus500 eToro XTB
Number of base currencies 10 1 4

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Plus500 charges no deposit fees.

As with other CFD brokers, there are a lot of depositing options at Plus500:

  • Bank transfer
  • Credit/Debit card
  • Skrill
  • PayPal
Plus500 deposit options
Plus500 eToro XTB
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

A bank transfer can take several business days, while payment with a credit/debit card and electronic wallets is instant.

You can only deposit money from accounts that are in your name.

Plus500 withdrawal fees and options

Plus500 withdrawal is free of charge for the first five withdrawals each month. After that, there is a $10 fee per withdrawal. This is a competitive offer, since many other brokers charge withdrawal fees.

There is also a minimum withdrawal amount, which is $50 for PayPal and $100 for bank transfer and credit/debit cards. If you want to withdraw less than this, a $10 charge will be applied.

For withdrawals, you can use the same methods as for deposits.

Plus500 withdrawal fees and options

Plus500 eToro XTB
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes No
Electronic wallets Yes Yes No
Withdrawal fee $0 $25 $0

How long does it take to withdraw money from Plus500? We tested the credit card/bank transfer withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from Plus500?

  1. Log in to your account.
  2. Click the ‘Menu’ icon in the top left corner.
  3. Click ‘Withdraw’.
  4. Enter the amount you’d like to withdraw.
  5. Initiate the transaction by clicking ‘Open a Withdrawal’.

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Plus500 review
Web trading platform

The Plus500 trading platform is very easy to use and also looks great. On the negative side, it cannot be customized.

Pros Cons
• User-friendly • Limited customizability (for charts, workspace)
• Clear fee report
• Two-step (safer) login
Plus500 platforms to choose from
Trading platform Score Available
Web 4.4 / 5 stars Yes
Mobile 4.9 / 5 stars Yes
Desktop No

The web trading platform is available in a lot of languages: Arabic, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Italian, Latvian, Lithuanian, Malay, Maltese, Polish, Portuguese, Romanian, Russian, Slovakian, Slovenian, Spanish, Swedish,Traditional Chinese, Turkish.

Look and feel

The Plus500 web trading platform is clean, well-designed and easy to use. As such, even a first-timer can navigate the site with ease.

On the downside, you cannot customize the platform.

Login and security

Plus500 provides a safer, two-step login. Google and Facebook authentication is also available, which is quite convenient.

Search functions

The search function is great, you will have no trouble finding anything. You can find the products categorized on the left or you can search by typing in the product name.

Placing orders

You can use the following order types:

To get a better understanding of these terms, read this overview of order types.

On the other hand, there are no order time limits provided.

Alerts and notifications

We also liked the platform’s alert and notification functions. You can set up email, SMS and push notifications.

The alert lets you know if the price of an asset reaches a level or changes by a set percentage. Additionally, you can also sign up be alerted if the Plus500 Traders’ Sentiment (the percentage of Buyers or Sellers among Plus500 customers) reaches a certain level.

Portfolio and fee reports

Plus500 provides transparent portfolio and fee reports. It is clearly indicated how much you paid in overnight fees. The composition of your current portfolio is also made clear, which you can check in the bar at the top of the platform.

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76.4% of retail CFD accounts lose money

Plus500 review
Mobile trading platform

The Plus500 mobile trading platform is well-designed and user-friendly.

Pros Cons
• User-friendly None
• Two-step (safer) login
• Good search function

The Plus500 mobile trading platform is very similar to the web platform. It has the same functionalities and is also user-friendly.

You can download the mobile app for iOS, Android and Windows Phone. You can also use your smartwatch, but we stuck to a conventional smartphone and tested the mobile iOS app. It was great.

Plus500 provides a safe two-step login and you also use biometric authentication, which is a convenient feature.

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76.4% of retail CFD accounts lose money

Plus500 review
Desktop trading platform

Plus500 does not offer a desktop trading platform.

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76.4% of retail CFD accounts lose money

Plus500 review
Markets and products

At Plus500 you can trade only with CFDs and forex. There is a wide selection of CFDs and currency pairs to trade with.

Plus500 is a CFD and forex broker. To learn more about CFDs read our CFD trading tips.

Disclaimer: 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 offers a good selection of CFDs, which is wider than eToro’s and in line with XTB’s product lineup. There are some cryptos as well, but less than at eToro and XTB.

Plus500 product selection

Plus500 eToro XTB
Currency pairs (#) 70 47 49
Stock index CFDs (#) 33 13 42
Stock CFDs (#) 1,800 1,900 1,700
ETF CFDs (#) 92 145 103
Commodity CFDs (#) 22 6 18
Bond CFDs (#) 3
Futures CFDs (#)
Cryptos (#) 14 17 25

You can also trade with options on a few stock CFDs and stock index CFDs.

You cannot change leverage levels, which is a drawback.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, as the preset leverage levels are high.

Plus500 review
Research

Plus500 provides limited research options. It has great charting tools and a well-designed economic calendar, but no recommendations, fundamental data or news feed.

Pros Cons
• Good interactive chart • No trading ideas
• User-friendly • No fundamental data available
• No/poor quality news flow

Plus500 does not provide trading ideas or fundamental data.

Charting

The charting tool is of good quality. There are 107 technical indicators and great editor tools. You can also save the charts.

News feed

You will find a well-designed economic calendar, but no news feed or newsletter.

We liked that you can filter for macro events or company-related events.

Other research tools you will enjoy

You can use Plus500’s Traders’ Sentiment tool, which shows the proportion of buyers and sellers at Plus500.

Plus500 review
Customer service

Plus500 has great customer support, available 24/7 . Both the live chat and the email support are quick and reliable.

Pros Cons
• Live chat • No phone support
• Relevant answers
• 24/7 availability

You can contact customer service via live chat and email. There is no phone support, but they use WhatsApp.

We tested the Plus500 live chat several times. It was always quick and reliable. For example, when we asked about fees they provided all relevant fees, including financing rates. After the conversation, you can rate your customer agent instantly, which is a good way to provide feedback.

The email customer support was also fine. They replied within one hour, which is extremely fast compared to other brokers. The answers we got were all relevant.

In addition to the good quality of customer service, it is also available 24/7, which is not the case at most other brokers.

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76.4% of retail CFD accounts lose money

Plus500 review
Education

Plus500 only provides a demo account and a few very basic videos about trading and using the platform.

Pros Cons
• Demo account • No trading platform tutorial videos
• Only few and basic educational videos

All education related materials can be reached at the site of Plus500 under the ‘Trader’s Guide’ section.

Visit education page
76.4% of retail CFD accounts lose money

Plus500 review
Safety

Plus500 is listed on the Main Market of the London Stock Exchange and is also regulated by more than one top-tier financial authority.

Pros Cons
• Listed on stock exchange • Does not hold a banking license
• Negative balance protection
• Financial information is publicly available

Is Plus500 regulated?

Yes, it is regulated by several financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority (FMA) of New Zealand, the Financial Sector Conduct Authority (FSCA) of South Africa, the Monetary Authority of Singapore (MAS), and the Israel Securities Authority (ISA).

Plus500 is based in Israel and was founded in 2008.

Is Plus500 safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Plus500 operates several subsidiaries and which one will serve you depends on your residency. The investor protection amount you get depends on the country of the subsidiary you are signing up with.

For example, if you are from the UK, you account will be with Plus500UK Ltd and you will get £85,000 in investor protection. Plus500UK Ltd is regulated by the FCA, the UK’s financial authority.

Plus500 investor protection

Client country Investor protection amount Regulator Legal entity
EEA countries (EU, Switzerland, Norway) €20,000 Authorized and regulated by the Cyprus Securities and Exchange Commission (#250/14) Plus500CY Ltd
UK £85,000 Authorized and regulated by the Financial Conduct Authority (#509909) Plus500UK Ltd
Australia, New Zealand and South Africa No protection Licensed by the ASIC (AFSL #417727), Financial Markets Authority (FSP #486026), and FSCA (FSP #47546) Plus500AU Pty Ltd
Singapore No protection Licensed by the Monetary Authority of Singapore (#CMS100648-1) and the IE Singapore (#PLUS/CBL/2020) Plus500SG Pte Ltd
Israel No protection Licensed by Israel Securities Authority (#515233914) Plus500IL Ltd

Plus500 provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection. This means that if the balance on your account should go into negative territory, you will be protected.

Background

Plus500 was established in 2008. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Plus500 is listed on the Main Market of the London Stock Exchange, which is a big plus for safety as Plus500 releases financial statements regularly and transparently. Other aspects, such as ownership and regulatory compliance are also all transparent.

A financially strong parent company is a plus since it can provide the online broker with additional capital if needed. In 2020, the biggest owners of the company were mostly large investment banks and asset management companies, like JPMorgan and Morgan Stanley. The biggest owner, Brighttech Investments, had a 9.99% stake. Alon Gonen, one of the founders, was also among the top shareholders, through Sparta24 Ltd.

Being listed on a stock exchange, providing financial statements and being regulated by a top-tier authority like the FCA are all great signs for Plus500’s safety.

Plus500 review
Bottom line

Plus500 is a good CFD and forex broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK’s FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by Plus500 Cyprus, thus the Cypriot investor protection will apply.

Attention Daytraders! At Plus500 scalping is defined as “a trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.” If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.

The Plus500 platform is easy to use, with a great user experience, which even first-time users can navigate with ease. Spreads are competitive, but financing rates are quite high. Some more advanced research tools would be useful.

As there is no minimum balance required, no withdrawal fee above $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.

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76.4% of retail CFD accounts lose money

Plus500 Review

Founded in 2008 in Israel, Plus500 is one of the oldest CFD brokers. It is a trading platform for CFDs on stocks, indices, foreign exchange and cryptocurrencies. The global CFD broker Plus500 describes itself as: “the trading module for the entire world – reliable, simple, innovative”.

Today, the trading company is registered with its subsidiaries in four marketplaces: Great Britain, Singapore, Cyprus, and Australia.

Company Overview

The company was founded by former students of the Technion – Israel Institute of Technology. It currently offers over 2000 financial instruments. The principal company, Plus500 Limited, is listed on the London Stock Exchange.

Plus500 promises its customers attractive terms, a modern trading platform and a wide range of tradable underlying.

The strict security requirements, which include the separate administration of customer funds and encrypted data transmission, are intended to provide clients with the reliable protection of their capital. In the terms and conditions of the company, negative account balances are excluded, so there is no obligation to make additional payments.

In addition, various other functions, such as a guaranteed stop loss, will be good for risk management. The Plus500 Group has set itself the goal of becoming the world’s number one CFD trading company. With broadened supply and low trading fees, the broker is well on the way, although some small improvements are needed.

“Large range of tradable assets”

Regulatory/licensing

Plus500UK Ltd authorized & regulated by the FCA (#509909).

Plus500CY Ltd authorized & regulated by CySEC (#250/14).

Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2020).

Plus500AU Pty Ltd (ACN 153301681),

licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. Unlike its biggest competitor, eToro, Plus500 is not officially based in Cyprus but has chosen Haifa, Israel as its headquarters.

In addition, UK deposit protection of £50,000 per customer also exists, ensuring that customer deposits on the trading account are well protected, even in the event of bankruptcy of the broker. One aspect that can always reassure customers is that it is a must for this UK broker to manage client funds separately from their own funds.

Even if the broker should ever get into financial difficulties or even a fraud case, customers and investors do not have to fear for their money. Additional security is provided by the fact that the company is listed. If there were any inconsistencies in the business, this would have been noticed long ago, as the company has to disclose all business activities.

Trading with Plus500

The low minimum deposit of €100 makes the offer equally attractive to all investors. The free and unlimited demo trading account allows first-time players to practice and playfully play before opening a real account. The software is easy to understand, very clear and easy to get started.

But the software also meets the demands of the pros in every case. The range of tradable assets is large.

Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

“Highly recommended Plus500”

The minimum deposit:

Minimum deposit for opening a real trading account by Plus500 will be a €100.- using debit and credit card or any of the electronic wallets. However, for the Regular wire transfer by bank the minimum deposit will be set on a €500.-

Trading platform

The most important thing is how the individual trades can be executed in the end. With the WebTrader Plus500 on the one hand offers the chance to act on the basis of a Flash version. This means that it is not absolutely necessary to download a software in order to start trading yourself.

On one hand, this offers the opportunity to access the mobile website. No download is required here to gain access to the improved rendering. This makes use of a smartphone or tablet if possible. Likewise, customers have the opportunity to download the broker’s app directly to their end device.

But even professionals are convinced by their own trading software, the Plus500 brought to the market. The many tools for analysis that have been integrated into it for a better understanding of the courses, continue to add value to traders today but with even mobile, it has long been possible to take advantage of the Plus500 offer.

This is available for free and positive reviews in the stores already clarify its quality. Thus, it also becomes an important alternative on the way to yield. in case of inactivity of more than three months a fee of 10 Euro will be charged.

However, this will only be charged if the account has sufficient credit. Negative account balances are excluded in the terms and conditions, so there is no margin requirement on Plus500. The maximum leverage in cryptocurrencies is also one of the positive aspects of the Plus500 rating.

This allows customers to trade Plus500 Bitcoin with a 1:2 lever. In order to limit the possible high losses, a guaranteed stop-loss function is offered.

Demo trading account

Anyone who decided to register with Plus500 is in no way dependent on starting directly with the live account. On the contrary, there is a chance to use the services of the demo trading account. This is available for an unlimited period of time.

There, trading can be simulated without any risk, which is done solely on the basis of a virtual currency.

Beginners thus get the chance to get first important insights into the new terrain before their own money is used. But even experienced traders benefit time and again from the opportunity created.

In addition, Plus500 does very little to advance the expertise of its customers. There are no webinars or guides available that will help you gain new knowledge. However, this is just one of the few disadvantages that we discovered on the site during our test.

Deposit and withdrawal

But what about the process of deposit and withdrawal? In general, Plus500 offers different payment methods. A quick and above all secure transaction is provided by Visa and Master Card credit cards.

Furthermore, it would be possible to use the services of the e-wallets Skrill and PayPal. They are both capable of transferring the money within minutes. Even a payout lands in this way within 24 hours on your own account.

In general, it is necessary for Plus500, to meet the minimum deposit of 100€. However, this is set much lower than the offers of the competition. In addition, the broker refrains from requiring an additional fee from its customers in the context of transactions, which further increases the added value.

Deposit Insurance

Clients’ funds are managed in separate accounts with reputable banks and can even be disbursed in the event of bankruptcy. In addition, a deposit insurance exists. For hedging positions, Plus500 uses its own funds.

Also, other expenses are not financed with customer funds, which serve exclusively as a margin for the positions opened by the customers. Plus500 also offers Crypto-CFDs for trading. For some time now, customers of the CFD broker Plus500 have had the opportunity to speculate on underlyings such as commodities, foreign exchange and indices too.

In addition, the broker has also been adding cryptocurrencies to its offer for quite some time. Thus, all registered customers have the opportunity to speculate on the price trends of some of the most popular digital currencies.

Currently, among other things, there are the following cryptocurrencies between which the traders can decide as respective underlying for CFD trading:

Available cryptocurrencies at Plus500

Although these digital currencies can still be traded exclusively against US dollars using the corresponding crypto-CFDs, it is not unlikely that this will be possible against the Euro in the near future.

The amount of the spread is variable on one hand and depends on which cryptocurrency the underlying customer chooses. For example, for crypto-CFDs with underlying Bitcoin, the spread is often 52.01 points.

A peculiarity in this sector is certainly that the leverage with which customers can trade the crypto-CFDs is relatively high for this type of asset. Up to 1:2, the potential leverage, which, of course, given the fact that cryptocurrencies are very volatile, offers a significantly higher profit opportunity, or the relative loss outcome.

Positive reviews in the press & partnership with Atletico Madrid

Last but not least, let’s take a quick look at the specialist press. Finally, reports in popular magazines and possible awards also shed light on how responsibly and customer-oriented a broker acts.

First, it should be noted that neither the press nor reports from traders suggest fraud. On the contrary, current users are more than satisfied with the broker’s service. For example, the Plus500 trading app in the App Store and Google Play Store is rated very positively.

Also in the trade press, the customer focus of Plus500 is repeatedly brought into attention. The Plus500 Group has been active on the market since 2008 and has been able to place itself as one of the top well-known brokers ever.

Since 2020, the company has even been the main sponsor of the Spanish football club Atletico Madrid. Although this has no influence on the trading experience itself, it also shows how financially strong Plus500 is.

In addition, a renowned traditional club like Atletico Madrid would not partner with a dubious company.

Support & Service: No complaints

Reputable brokers are also characterized by the fact that they are always available to customers and work solution-oriented on problems.

In this respect, the Plus500 support also plays a role in the question of whether the broker is reputable. First, a look at the means of communication through which contact with employees can be made: Online chat e-mail

Plus500 indicates that support is available to traders 24/7, 365 days a year. Although a phone number is missing, however, the questions in the online chat can be clarified quickly. Even unregistered users can call the chat and then chat directly with an employee.

It is not necessary to communicate in English, especially during the day, traders can almost always reach German employees.

In addition, Plus500 also offers a passive information offering with a large FAQ section. Traders can answer the detailed answers to more than 50 questions without first having to get in touch with an employee. Among other things, Plus500 explains its own business model, refers to valid licenses and describes the security mechanisms that have been developed for client funds.

At a glance the Advantages

The free demo trading account

A large variety of assets

Only €100 minimum deposit

many ways of depositing

simple and clear software

Mobile trading via PC, tablet, smartphone

low costs and fees

Disadvantages

No instructional videos and webinars

Conclusion

At the end, there is a very good balance on the side of Plus500. It is a very experienced and good provider who bringseverything you would expect from a good supplier.

The financial success is definitely possible. The demo trading account is free to use and Plus500 UK Ltd is authorized and regulated by Financial Conduct Authority (FRN 509909). In our rating, the broker therefore occupied the 4th place, because the eToro experiences made ours and the CMC Markets’ experience a little less convincing.

Broker FAQ

What trading hours apply to cryptocurrency trading? Unlike the “classic” underlying, cryptocurrencies on Plus500 can be traded around the clock seven days a week. Only Sundays the trade is interrupted from 12 o’clock for two hours.

As a result, Plus500 is one of the brokers with most extensive trading hours, offering additional opportunities to benefit from price progressions of the growing cryptocurrencies.

Which minimum deposit is required?

The minimum deposit is $100, allowing even low-capital traders to trade in increasingly popular cryptocurrencies.

Fortunately, Plus500 offers many other payment options, including PayPal, Skrill and credit card deposit.

How does trading via the demo account work?

The demo trading account is free and can be opened without a trading account. First and foremost, it serves to get to know the broker and the offered trading products.

But even for active traders, the occasional use of the demo trading account offers many advantages.

For example, they can train newly learned strategies and methods or work on their trading strategy without any financial risk.

The demo trading account is not subject to a time limit, it can be used permanently. Trading is done with virtual credit, which is recharged for free by the broker.

The trading takes place on the same terms as the live account, only that no real money can be lost or won.

“100% Free demo trading account”

Where can I find trading terms for cryptocurrency trading?

Plus500 offers trading leverage and dynamic spreads when trading in cryptocurrencies and other products.

Especially in the case of very volatile cryptocurrencies, the conditions may change in the meantime. The current conditions can be found on the website.

Here, Plus500 provides a list of all offered underlying assets.

By clicking on the appropriate CFD, users are provided with information on spreads, levers and other parameters.

(Note: with CFD options, you do not own or have any rights to the underlying assets.)

Forex trading strategy plus 500

Plus 500 is a Forex trend trading strategy with a classic set of technical indicators. This strategy targets take-profit orders for 500 pips using the 4-digits quotes, that’s why it’s called so. The currency pair to trade with is EUR/USD and the timeframe is H4.

It’s widely known that huge trends are not easy to catch and especially to take most of the distance covered as the profit. Any beginner would target such trends right after the first market experience. This dream does not turn to the reality with time, though. It’s becoming understandable, that it’s almost unreal to catch such a trend with several first attempts. These failed deals could cause losses and potential profit coming from successful deal could turn to a zero, if not putting the deposit under water.

We’ll try to understand today how to use a limited number of attempts and get the profitable deal done until the full target (+500 pips) is achieved. We cannot call this Forex trading strategy as extremely profitable, of course, as negative positions could occur quite often. However, an exciting feeling of taking 3-4 deals with such a profit could add a lot of positive emotions to the profit.

Just to add some statistics, this trading strategy brought a profit of 1400 pips roughly in the previous year from May 2020 to April 2020. We’ve closed 4 deals with the full profit of plus 500 pips using this strategy.

Timeframe recommended is H4.

The currency pair to trade on is EUR/USD. This strategy is suitable for different other currencies as the authors claim. Still we did not check out the multicurrency efficiency for this strategy.

The following technical indicators are used for this Forex trading strategy:

  1. Relative Strength Index with default period of 14;
  2. Parabolic SAR with both step and maximum value at 0.03;
  3. Simple Moving Average with 70 period (MA70).

If you like this strategy, you might also be interested in this Forex Candlestick Patterns

The conditions for LONG positions are as follows:

  • One of the candles is closed above simple moving average with 70 period. All of the further actions have to be taken only if the price remains above MA70.
  • Parabolic SAR indicator jumps below the price;
  • RSI 14 indicator is above 60 level;
  • We open LONG position right on the next candle;
  • We set stop-loss order for 80 pips below the entry point;
  • When the Parabolic SAR appears closer to the entry point, we should change the stop-loss order below the indicator’s last value. We will keep changing the stop-loss order until closing the deal according to the Parabolic SAR momentum (3-4 pips lower);
  • Once the price has moved 130 pips in the right direction, then this position has to be at least in zero loss. We ignore Parabolic SAR even if the indicator does not allow us to set risk-free mode for the position we hold;
  • Take-profit order is set for 500 pips above the entry point.

The conditions for SHORT positions are as follows:

  • One of the candles is closed below simple moving average with 70 period;
  • Parabolic SAR indicator jumps above the price;
  • RSI 14 indicator is below 40 level;
  • We open SHORT position right on the next candle;
  • We set stop-loss order for 80 pips above the entry point;
  • When the Parabolic SAR appears closer to the entry point, we should change the stop-loss order above the indicator’s last value. We will keep changing the stop-loss order until closing the deal according to the Parabolic SAR momentum (3-4 pips higher);
  • Once the price has moved 130 pips in the right direction, then this position has to be set at least in zero loss. We ignore Parabolic SAR even if the indicator does not allow us to set risk-free mode for the position we hold;
  • Take-profit order is set for 500 pips below the entry point.

There is one more additional option to this strategy. The same direction position can be considered in case if the price at least touches MA70 on the pullback. Ideally, it’s better to see the price crosses MA70 and comes back after that.

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