Plus500 CFD Broker Review

Plus500 is a provider of CFD service which is a UK-based broker founded in 2008. It is authorised and regulated by the Financial Conduct Authority (FCA) and also by ASIC in Australia.

Please note: CFDs are leveraged products – Your capital may be at risk.

In this plus500 review we discuss more about this “famous” trading company.

Traders can trade CFDs with over 2,000 instruments (Shares, Indices, Commodities, Forex, and ETFs) across over 20 different markets worldwide. Example:

  • Shares CFDs: Google, Vodafone, Barclays, Nokia, BMW, etc
  • Indices CFDs: S&P 500, FTSE 100, DAX 30, etc
  • Commodities CFDs: Crude oil, Gold, Silver etc

Plus500 Bitcoin Trading

You can now trade virtual currencies CFDs Bitcoin and Litecoin with Plus500. This is something I like as there are not many platforms out there which enable you to trade them. But do take note that they are very volatile and highly speculative. Only experienced traders should trade it. Just my opinion.

bitcoin plus500 trading

Information You Must Know:

Min Deposit: $100

Does NOT accept US clients


  • Shares: Up to 1:20
  • Forex: Up to 1:200
  • Indices: Up to 1:300
  • Commodities:  Up to 1:150
  • ETFs: Up to 1:100

If you do not know what leverage mean, in layman’s terms it means you can have a small amount of capital in your account controlling a larger amount in the market.

Traders call it as trading on margin. 1:20 leverage means that for every $1 you have in your account you can place a trade worth $20.

Trading Platform

Plus500 uses its own proprietary trading platform. You can trade via its

  1. Desktop software (installed on your computer)
  2. Webtrader
  3. iPhone/iPad App
  4. Andriod App

plus500 platform

I have tried using both the desktop software and Webtrader. Basically, their layout is the same. Their Webtrader is the simplest to get started and trade. As long you have an internet access, you can log-in from a browser from anywhere.

plus500 platform

I know a lot of FX or CFDs brokers offer Metatrader 4 (MT4) as their trading platform. Unfortunately Plus500 does not offer MT4 platform. But luckily, Plus500 WebTrader platform is extremely simple and intuitive to use. There is almost no learning curve required. Charting and technical indicators are available in the platform. Common ones such as moving averages, Bollinger Bands, MACD, Stochastic are built-in. However, you can’t add any other indicators of your own and you can’t open multiple charts at one go. Seasoned traders may sulk for this lack of customisation. However, I find it is good enough for majority of the traders. Sometimes less is more!


What Are the Commission Fees or Charges?

Plus500 does NOT charge any commission for any trade you entered. They are compensated through market spread. The difference between the current buy price and the current sell price is referred to as the spread.

Forex pair EUR/USD Example:
Sell: 1.3713 / Buy: 1.3715

The spread is 0.0002 (2 pips). If you buy Euro at 1.3715, you need the market to move in your favour by at least 2 pips to break-even and 3 pips to start to make a profit.

Funding Methods / Withdrawals:

It is easy to fund your account. Here are the 4 methods:

  1. Visa/Mastercard
  2. Skrill
  3. Wire Tansfer
  4. PayPal

To withdraw your fund, client’s valid PhotoID must be provided.

Welcome Bonus $25 (No Deposit Required)

One of the best benefits with Plus500 is that they give you a $25 welcome bonus just for signing up (demo account included). All you have to do is to download the trading software or login to WebTrader, verify your mobile phone number and the money will be added to your account. You can then start trading immediately!

How Reputable is Plus500? Is My Funds Safe With Them?

Plus500 is listed on London Stock Exchange under the ticker “PLUS” and has more than 1 million registered traders. Although I cannot guarantee they will not go bust and collapse (Even Lehman Brothers can go bankrupt during the 2008 Global Financial Crisis!), it is definitely not a fly-by-night company and is a very reputable CFD broker in the market.

Any Complaint or Dissatisfied Customers?

My personal opinion is that no CFD provider or broker is perfect. If you look hard enough, you will find someone online who say he/she doesn’t like Plus500.

There are instances where people complained that it is hard or took a long time for them to withdraw their money out of the account.

On the other hand, there are clients who mentioned it is easy to withdraw their funds. Personally, I have no issue with them.

How Is the Customer Support?

I think this is the only flaw for Plus500. It only offers email and fax support and does not provide live chat or telephone support. Psychologically, it feels “safer” to be able to talk to a real person.

But I must say their email replies are very prompt. They are answered in less than 24 hrs (usually in just a few hours).

Anyway, I have accounts with other brokers as well, and I realised I rarely call them up. So I am fine with the email-only support.

Try It First With Free Demo Account

Plus500 offers a free (unlimited by time) demo version. I suggest you try it first, get familiarised with its platform (both deskstop or webtrader). The demo account comes with $25,000 paper money.

It is good to test out your trading strategies first without risking your real money. After which, get the $25 no-deposit-welcome-bonus and then fund your account with real money subsequently. You download Plus500 trading software directly  and open the demo account within 5-min.

Pros and Cons In a Nutshell


  • Regulated by FCA
  • Trade over 2,000 instruments
  • Able to trade Bitcoin & Litecoin
  • Does not charge commissions
  • User-friendly multiple trading platforms
  • Low minimum deposit to fund an account
  • $25 welcome-bonus with no deposit required
  • Free unlimited demo account


  • No live chat and telephone support
  • Does not provide news or market commentary/education

My Personal Verdict:

As a self-directed trader, I want a reliable trading platform and Plus500 qualifies that. I believed most traders would think that a stable platform is very important.

It is also extremely simple to use the platform. The free unlimited demo account and generous $25 welcome bonus is definitely a huge plus point.

For seasoned traders like me, I like the tight spreads offered by Plus500 and the wide varieties of instruments to trade, which includes Bitcoin. I can also trade on the go with its Android App. Also it is well regulated by FCA.

I would definitely recommend Plus500.

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