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4.09
/ 5
| 🏦 Min. Deposit | AUD 200 |
| 🛡️ Regulated By | FCA, CySEC, ASIC, MAS |
| 💵 Trading Cost | USD 8 |
| ⚖️ Max. Leverage | 30:1 |
| 💹 Copy Trading | No |
| 🖥️ Platforms | Plus500 |
| 💱 Instruments | Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices |
Accepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1.Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. 79% of traders lose money with this provider.
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website you agree to our Terms of Service.
A trustworthy CFD provider with regulation from eight national authorities and a listing on the London Stock Exchange, Plus500 is a good choice for traders looking for a simple account structure, reasonable trading fees, a wide range of tradable assets, and a well-designed mobile trading app.
Plus500 only offers one trading account, but its trading costs are low compared to many brokers, with spreads starting at 0.8 pips* on the EUR/USD and a minimum deposit of 100 AUD. Most traders will also be satisfied with the number of financial assets available, including over 70 Forex pairs and 1900 share CFDs.Unlike other CFD providers that provide support for a variety of trading platforms – such as MT4, MT5, or cTrader – Plus500 only offers support for its own in-house platform. However, the platform is sleek and well-designed. Available as a mobile app or on the web with no need for any downloads, the platform is equipped with a number of useful risk management tools.
We were disappointed that Plus500’s education and market analysis materials are virtually non-existent, but its award-winning customer service is available 24/7, which is exceptional for an industry where the norm is 24/5.
*spreads correct as of 09:00, 21/06/2022
| 🏦 Min. Deposit | AUD 200 |
| 🛡️ Regulated By | FCA, CySEC, ASIC, MAS |
| 💵 Trading Cost | USD 8 |
| ⚖️ Max. Leverage | 30:1 |
| 💹 Copy Trading | No |
| 🖥️ Platforms | Plus500 |
| 💱 Instruments | Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices |
One of the best-regulated CFD providers, Plus500 maintains regulation from no less than eight authorities, and is listed on the London Stock Exchange.
ASIC Regulation: Australians will be onboarded through Plus500AU Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC):
Safety Features: ASIC is considered one of the strictest regulators in the world. As such it restricts maximum leverage to 30:1 for Forex trading and ensures that brokers provide negative balance protection, which means that traders can never lose more money than they have in their trading accounts. In addition, all brokers are required to segregate client funds from their operating capital and cannot offer bonuses or promotions.
While the additional protection offered by ASIC regulation is welcome, some Australian traders may find the low leverage levels restrictive.
Plus500 is also listed on the London Stock Exchange, further burnishing its credentials as a safe broker.
Company Details:
We found that Plus500 offers a wider range of assets compared to other similar CFD providers, including over 70 currency pairs.
See below for Plus500’s range of instruments and corresponding leverage:
Scroll for more details Financial Instrument Number of Assets Leverage Commodities2520:1Cryptocurrencies182:1Stock CFDs1,9005:1ETFs955:1Forex7030:1Indices2620:1
Overall, we found the range and depth of assets available to trade impressive and it excels in its Forex offering.
Plus500’s trading conditions are broadly similar to other CFD providers, with a single account type, but tight spreads.
Trading Fees: Plus500’s account has a minimum deposit requirement of only 100 AUD, making it accessible to most traders. Although the CFD trading account is commission-free, spreads start at only 0.8 pips* on the EUR/USD, which is tighter than other similar CFD providers. Most other good CFD providers have an average spread of 0.9 pips (EUR/USD).
*spreads correct as of 09:00 GMT on 20/06/2022.
Plus500’s Account Trading Costs:
Scroll for more details Trading account Min. Deposit Min. Spread EUR/USD Commission Trading Cost (USD) StandardUSD 1008Spread Only8
Spreads on other Major Forex Pairs
Plus500 also offers trading on other major pairs, including the GBP/USD, USD/JPY, AUD/USD, and USD/CHF. As with the EUR/USD above, the costs* in the table below are based on the trading fees of one lot (100 000 USD), including the spread and commission:
Scroll for more details Major Forex Pair Spread Broker Trading Cost Industry Average Trading Cost
As you can see, trading costs are close to the industry average on most major pairs.
*Note that these costs are correct as of 09:00 GMT, 21/06/2022.
Overall, we found that Plus500 offers a single trading account with competitive trading costs and a reasonable minimum deposit requirement.
We found that Plus500 charges low deposit and withdrawal fees compared to other CFD providers, but that its payment methods are limited.
A well-regulated CFD provider, Plus500 ensures that all Anti-Money Laundering rules and regulations are followed. As such, all non-profit funds are returned to the original deposit source.
Trading Account Currencies:When we opened our account, we noticed that the Plus500 client portal allows you to choose from a large range of base currencies, including USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, and SGD. Because we were depositing AUD from an AUD bank account, we weren’t charged any currency conversion fees. Plus500’s currency conversion Fee is up to 0.7% of the trade’s realised net profit and loss, which is higher than the currency conversion fees charged by other CFD providers.
Deposits and Withdrawals: We found that deposits and withdrawals can be made securely at Plus500 using major debit cards and credit cards (including Visa and MasterCard), bank wire transfer, and Skrill. See below for details on the payment methods:
Scroll for more details Funding Method Base Currency Deposit Fees Withdrawal Fees Processing Time Bank TransferUSD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGDFREEFREE - withdrawals minimum 300 USD. Withdrawals below this amount incur a 10 USD feeDeposits are processed within two days and withdrawals are processed in one to three daysMastercardUSD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGDFREEFREE - withdrawals minimum 300 USD. Withdrawals below this amount incur a 10 USD feeDeposits are instant, withdrawals are processed in one to three daysPaypalUSD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGDFREEFREE - withdrawals minimum 100 USD. Withdrawals below this amount incur a 10 USD feeDeposits are instant, withdrawals are processed in one to three daysSkrillUSD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGDFREEFREE - withdrawals minimum 100 USD. Withdrawals below this amount incur a 10 USD feeDeposits are instant, withdrawals are processed in one to three daysVisaUSD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGDFREEFREE - withdrawals minimum 300 USD. Withdrawals below this amount incur a 10 USD feeDeposits are instant, withdrawals are processed in one to three days
Although deposits and withdrawals are generally commission-free, Plus500 requires a minimum withdrawal amount of 100 USD for Skrill and credit cards; and 300 USD for bank transfers. Withdrawals below this amount incur a fee of 10 USD, which is relatively expensive.
We tested deposits via credit card and found that our payment was processed almost instantly, but it took three days for our withdrawal to arrive in our account, which is longer than average.
Overall, we were disappointed in the limited variety of payment methods and that Plus500’s processing times are slower than other CFD providers. Additionally, while no commissions are charged on deposits, withdrawals below certain minimum amounts will incur a fee of 10 USD.
We found that, unlike most other CFD providers, Plus500 only provides its own mobile trading platform, which cannot be customised and does not allow for algorithmic trading, but the platform has a sleek design and is easy to use.
We rigorously tested the trading platform. See below for more details:
Easy to Use: We found that the platform offers a streamlined trading experience, appealing to traders who want to avoid the complexity of third-party platforms. The platform looks fantastic, is very easy to use, and has a solid reputation in the trading community.
Platform Features: As you can see below, the simple interface allows users to create watchlists (or favourites), analyze charts, and place and monitor trades. Additionally, technical analysis charts offer more than 100 technical indicators available in multiple timeframes:
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The Plus500 platform is exclusively web-based and is not available as a downloadable desktop app.
Functionality: We found that like the mobile trading platform, the web-based platform is similarly user-friendly and uncomplicated. It also has the same functionality, including the ability to make deposits and withdrawals, set alerts, view trader sentiment, analyse charts, place and monitor trades, and access over 100 technical indicators:
No Automated Trading: We found that Plus500 provides a superior trading experience compared to other similar CFD providers, but, unlike platforms such as MT4 and MT5, the Plus500 platform is not customisable, and traders who are used to setting up their own charts over a bespoke workspace will be disappointed. In addition, the platform does not offer the execution speeds of the Metatrader platforms, nor does it offer algorithmic trading.
Overall, we enjoyed using Plus500’s trading platform because of its intuitive interface and excellent support. However, compared to third-party platforms such as MT4 and MT5, it lacks the execution speeds and doesn’t allow for automated trading via expert advisors or other trading algorithms.
We found the account-opening process at Plus500 straightforward and our account was ready for trading within one day.
We tested the account opening process, which took approximately 10 minutes to complete, and once our documentation had been submitted, our accounts were ready for trading on the same day.
How to open an account at Plus500:
Our application was approved within 24 hours.
Overall, we found the account-opening process quick and convenient compared to other similar CFD providers.
Our review noted that Plus500’s market analysis materials are limited in scope compared to other similar CFD providers, and it offers fewer trading tools.
We found that although Plus500’s market research is written by an in-house research team, it is not as comprehensive as what is available at other CFD providers. The materials include a Market Insights blog and an Economic Calendar. The Market News is updated daily, providing traders with insight into various market events. The materials are well-written and useful, but the articles are short. However, we liked the fact that Plus500’s Economic Calendar has filters that can select for company or macro-events:
Plus500’s trading tools include unique risk management tools, some of which come at an extra cost. However, unlike other similar CFD providers, it does not offer any additional analytics services such as Autochartist or Trading Central, and the proprietary platform also does not integrate with any third-party tools. See below for more details on the various tools:
The risk management tools include:
Overall, while the market analysis provided is updated daily, we found the materials brief and limited compared to most other large international CFD providers. It also provides a limited range of trading tools to help traders make trading decisions, but its risk management tools are excellent. Plus500 should consider partnering with some third-party providers to offer a more comprehensive market analysis.
Trading Tools Comparison:
Scroll for more details Broker Economic Calendar Autochartist Trading Central Trading View Free VPS
We found that Plus500’s educational materials are limited compared to other CFD providers.
Plus500’s educational materials include a set of Trader’s guides covering topics such as ‘What is CFD Trading,’ ‘Slippage When opening a Position,’ and more. It also provides a set of ‘how-to’ videos to learn more about online trading with Plus500’s platform. All videos are accompanied by an article on the respective topic. Plus500 also recently launched a detailed 28-page eBook covering all aspects of CFD trading that traders will find helpful.
Many other CFD providers offer courses, quizzes, and more to help clients learn about the markets in which they are investing, which is not available at Plus500.
Demo Account
The demo account allows traders to practice trading and get used to the Plus500 platform before depositing real money. The Plus500 platform is different from that of other CFD providers, so we advise that new clients take the time to get comfortable with the platform before committing to a deposit. While we enjoyed the clean design of the Plus500 platform, some traders may prefer a more traditional layout. Demo accounts do not expire and are loaded with virtual funds that can be topped up by request.
Overall, we think that the education section could be improved with a greater variety of materials in addition to providing sections for more experienced traders. Traders would also benefit greatly from being able to attend webinars on CFD trading basics and risk management.
Education Comparison:
We found Plus500’s customer support excellent compared to other CFD providers – with support available 24/7 on live chat and via email.
Plus500 offers 24/7 customer support via email, online chat, and WhatsApp messages in 31 different languages. This is a much higher level of service than we usually find at other CFD providers. The only way we think customer support could be improved is by offering phone support for more complex queries and troubleshooting.
For the purposes of the review, we tested the live chat service. We found the live chat agents were knowledgeable and responsive. They also provided links and extra reading material where appropriate.
We consider Plus500 a safe broker to trade with. It maintains regulation from a number of top-tier regulators, including the FCA of the UK, ASIC of Australia, and the MAS of Singapore. It also maintains regulation from the FSA of Seychelles, through which global traders are onboarded.
Plus500 was founded in 2008 and has grown into one of the largest online CFD providers in the world – not only is the company publicly traded on the London Stock Exchange, meaning an additional level of scrutiny, but eight national authorities also regulate its subsidiaries:
Awards
Plus500 does not highlight any industry recognition it has received, but it has won numerous awards for its services over the years.
Overall, considering the strict regulatory oversight, the long track history, and the fact that it is listed on a public stock exchange, we deem Plus500 a trustworthy and safe CFD provider.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process. Central to that process is the evaluation of reliability, the platform offering and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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 is a leading brand in the CFD trading industry and has a loyal following of traders. We found that it has low trading costs, a reasonable minimum deposit requirement, and a wide range of tradable assets.
Although some traders may be disappointed that trading is only offered on Plus500’s proprietary platform, the platform has a sleek, intuitive design, and is integrated with some excellent risk management tools.
We noted that the market analysis and educational materials are limited compared to other CFD providers, forcing traders to self-educate elsewhere, but customer support is available 24/7.
Find out how Plus500 stacks up against other brokers.
Accepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1.Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. 79% of traders lose money with this provider.
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These Mob are bunch of scammers lost 23000 in seconds and couldn’t close the order they are quick to take your money and ridiculously slow to contact….via email every one out there don’t trade through these thieves!!
Hi Trevor, could you give us more detail please? These are serious allegations – we also have a form to report a broker here: https://fx-australia.com/forex-scams-report-a-broker/.