Plus500 Forex Broker Review

How are the fees structured at Plus500?

Plus500 is one of those brokers who finance themselves exclusively through spreads. This gives traders the opportunity to achieve higher profits through tight spreads. Brokers who finance themselves only through spreads do not buy the securities on behalf of the customer on the stock exchange, but act as trading partners. The spread results from the difference between the bid and the ask price. In addition to the spreads, there are no other fees.

Settlement purely via spreads has the advantage that the Plus500 fees are transparent and easy to calculate for the investor. With regard to the individual products, the spreads on the indices are favorable. For the DAX or the Dow Jones, investors pay an average of 0.5 to 1 pip. Caution is advised when trading on smaller markets, as the spreads can be larger here. In terms of currencies, the fees are cheap at 0.5 pips for the euro and US dollar. Only raw materials are a bit more important in terms of costs, but this is why they can still be described as cheap in terms of costs.

Anyone who trades long should know that an overnight fee will be charged. They also has an inactivity fee. The broker incurs costs through the provision of the infrastructure for trading. He usually compensates for this through the spreads. If the Plus500 spreads are missing, $ 10 will be deducted from the deposit balance every month.

Plus500 pros and cons

► Free demo account
► Many commercial products are tradable
► Cryptocurrencies can also be traded

► Selection of crypto currencies expandable

How does Plus500 perform in the appraisal?

Plus500 counts mainly active traders among its target group. All functions of trading are designed primarily for strong trading and less for clients looking for solid, long-term investments. Therefore, only CFDs can be traded. Fund savings or savings plans are not offered.

In terms of fees, Plus500 is one of the cheapest brokers. There are no order fees or custody account management costs. The customer pays his fees exclusively via the spread. There is also an overnight fee and an inactivity fee. They do not trade with funds. For this, the broker focuses on trading CFDs, which are available in a large number. The broker secures its deposits in Great Britain. The company was founded in 2008 and has branches in five different countries.

The trial shows that stocks, CFDs, ETFs, options, futures and currencies can be traded. Customers can only trade with Plus500 via the company’s own web trader. There is also a demo account.

As far as online security is concerned, the broker can score in the assessment. You can log in as normal using your email address and password, but transactions are secured using two-factor authentication and a fingerprint login. Plus500 payments can only be made to a previously defined reference account.

In addition to the web trader, the broker also provides an app that is one of the most frequently used. Customer service takes place exclusively online, via chat, WhatsApp or via the contact form.

In addition to the classic order supplements, Plus500 offers Take Profit, Training Stop, Stop Loss and a guaranteed stop. There are free real-time prices, volume indicators and the use of extended key figures without any restrictions. In the area of ​​trading CFD options, the broker offers futures on commodities and indices. All types of trading are represented in CFDs: Forex, stocks, indices, precious metals, commodities, bonds and interest.

With Plus500 Forex majors, exotics and cross rates can be traded. The Forex contains over 80 different currency pairs. Retail investors trade forex with leverage of up to 1:30.

The training opportunities can be rated positively in the Plus500 trial because they are very versatile. In addition to various videos and articles, there is also an extensive FAQ area.

As far as the broker’s deposit protection is concerned, the company is not a member of the compensation institutions of European banks, but is exclusively supervised by the FCA. Client deposits are held in trust by Barclays Bank, separate from corporate funds.

Is Plus500 a scam?

If you are reading the name of the company for the first time, you might ask yourself what Plus500 actually is, because at first you don’t think of a broker and you might react suspiciously. But one cannot speak of them and fraud. It is a broker that specialises in trading CFDs and thus on the target group of risk-averse investors. It is important to know that high losses are common in the business area served by the broker, which is why we cannot speak of fraud. The fact that the broker is under the supervision of the FCA is a clear indication that Plus500 is reputable.

Is Plus500 reputable?

Yes, Plus500 is a well thought of broker who specialises in the riskier models in securities trading. The company has been successful in the market for 22 years and has established itself. Another fact that shows they are reputable is that the company is the official sponsor of Atletico Madrid.

What is the Plus500 payout time?

Payouts are possible in various ways. This includes the classic transfer, payment via credit card, PayPal and Skrill. As far as the Plus500 payout period is concerned, payment methods that can be made online are always faster than traditional ones. Nevertheless, a few working days should be taken into account as processing time. The fastest payout times can undoubtedly be offered by PayPal and Skrill, because here it usually takes a minute at most.

Is Plus500 a rip off?

Whoever stays fair knows that Plus500 has nothing to do with rip-offs. However, it has to be said that the broker limits itself to a business that involves a high level of risk. But this is legal and cannot be called a rip-off. The broker’s offer is aimed at investors who are willing to take risks. Everyone should be aware that you can not only earn money with Plus500, but also lose it.

How good is the Plus500 Webtrader?

The Plus500 Webtrader is an intuitively structured platform in which users can quickly find their way around. The following order types can be placed via the Webtrader: Market Order, Take Profit, Stop Buy and Training Stop. A search function is also integrated, which works well and is easy to understand. In the form of charts, traders can find out more about 103 indicators within the platform and choose the best ones for trading. There is also the option of creating an account snapshot that shows the available capital, its allocation and a list of open positions. This gives customers a better overview of their financial status.

What is Plus500?

Customers who read the name of the company for the first time certainly do not immediately realise that it is a broker and first ask themselves what is Plus500? The broker was founded in London in 2008. In 2015 there were problems with the UK Financial Regulator, which froze a large portion of customer accounts due to them failing to comply with money laundering regulations. This initially led to a collapse in the company’s shares. Shortly thereafter, the company was to be taken over by Playtech Plc, which, however, did not happen. They focuse on trading CFDs, which allow high profits, but also involve very high risks. Most private investors lose their money with this type of investment.

How are the Plus500 ratings?

As far as the ratings are concerned, the company is at the top almost everywhere. Customers are particularly enthusiastic about the demo account because they can see their own progress after using the demo account. The trading software also scores well within the ratings because it is clear and easy to use. TheSupport & Customer Service is rated a bit worse because there is no personal availability.

Does Plus500 have an app?

Yes, the app has pretty good reviews in the app store and is considered one of the leading tools for CFD trading. Customers can trade leveraged CFDs on stocks, indices, forex, commodities, ETFs and cryptocurrencies with the app. The demo account also runs on the app without any problems. All products can be sold and bought within the app, it offers real-time market prices, trading with Plus500 CFD with the most widely traded instruments. Stops and limits can be set and the balance can be protected against losses. The app can be used to monitor your own balance sheet, capital and margin at any time and from any location. The app is stable and error-free.

Does Plus500 have crypto?

Yes, all variants of crypto can be traded. The broker not only offers a few currencies, but almost all of them. Trading at Plus500 with crypto is possible with levers and around the clock.

Cryptocurrencies are virtual currencies that are distributed over a decentralised network. When trading crypto CFDs, there is no need to buy coins, you can simply speculate on the rising or falling prices as with normal CFDs. Customers do not need an extra account with Plus500 to exchange currencies and no wallet either. Trading is possible 7 days a week, 24 hours a day.

What is the Plus500 opinion of customers?

On average, the opinion of customers is 90% positive. Customers like, as can be read in the opinion, above all the stable and easy-to-use technology, the low prices and the demo account, which helps many users in their knowledge.

How is the Plus500 Spread designed?

The spread is an important parameter because the broker operates its entire pricing policy exclusively via the spread. It should be noted that the spread can vary greatly, depending on the market situation and the type of trade. However, the minimum spreads given are very low, which is an advantage for the customer. Even if the spread is higher due to other factors, this means that it is still relatively lower than it might be with other brokers. Overall, it makes sense for a broker who specialises primarily in trading in derivatives to settle using spreads. For trades that do not involve spreads, it makes sense to charge an order fee. Would Plus500 do the same

How good is the Plus500 support & customer service?

Support & Customer Service cannot be reached by phone, but only online, but it still gets good reviews from customers. The employees react quickly to incoming questions and usually answer on the same day. They are also able to solve problems quickly and to the satisfaction of customers. Competence and friendliness are probably the reason why customers look up to the lack of opportunities to address them personally.

How does a deposit work at Plus500?

There are more ways to make a deposit at Plus500 than most of its competitors. Classic brokers often only offer deposits with bank transfer. A deposit can also be made with a credit card, PayPal or Skrill. The advantage is that the trading capital is available immediately.

How does a payout work at Plus500?

If you want to request a payout at Plus500, you can basically use the same payment methods as for deposits: transfer, credit card, PayPal or Skrill. With the transfer, the payout can take a while, with the other methods it is usually credited at the same time. With the payout to a credit card, please note that only an amount in the same amount as the amount that was deposited can be credited. The same methods and accounts must always be used for deposits and withdrawals.

Is there a Plus500 demo account?

Yes, a Plus500 demo account is available. The account should be pretty good, because customers are enthusiastic about it and many are happy because they have learned to trade securities via the Plus500 demo account. Using the demo account helps to understand all the important basics and can save time, because customers can try out things in the demo account that they would otherwise have to read or watch on videos. With the demo account there is no financial risk, which is a great advantage when trading CFDs, because traders should be able to master this risky form of trading in order to be able to minimise losses. The demo account can already be used if the real account has not yet been activated. In addition, customers can use it for as long as they want.

How are the Plus500 costs to be assessed?

Costs were designed very intelligently by the broker. The system is beneficial for both customers and brokers. They only calculate according to spreads. This makes a lot of sense with a broker who only trades derivatives. If the provider were to charge additional order fees, this would mean double costs for the customer. Other brokers can charge order costs because they sell products with no spreads. But that doesn’t make sense with Plus500. In addition, it should be said that the costs are also very cheap. Although the spreads vary depending on the business and market, the broker is still quite far ahead when comparing the minimum fees compared to the competition.

Can you make money with Plus500?

Yes, most customers probably aim to make money with Plus500 because the broker does not offer long-term investments. For this reason, among other things, some investors may be critical of the provider, because he only offers securities transactions with high risk. However, there is nothing to be said against it, because customers who want to earn money with Plus500 are happy about it.

Is there a deposit at Plus500 with PayPal?

Yes, a deposit with PayPal is possible. In addition, the broker also offers deposits by bank transfer, credit card and Skrill. The advantages of paying with PayPal are obvious: On the one hand, it is particularly easy to carry out, but above all it is quick and the deposited money can be traded within a few minutes.

Does Plus500 have ETFs?

No, the broker does not offer trading with ETF. The company specialises purely in the derivatives business, which is why trading with Plus500 ETF would not fit into the corporate philosophy.

Does Plus500 have CFDs?

Yes, trading with Plus500 CFD is possible. It is even the broker’s specialty, as the company specialises exclusively in trading derivatives.

Does Plus500 offer Forex?

Yes, Plus500 Forex trading is offered in the form of Forex CFDs. The most popular currency pairs in Plus500 Forex are GBP / USD, EUR / GBP and EUR / USD. The broker offers advanced trading tools to minimise losses and protect profits. Nevertheless, it must be said very clearly that there is also a great risk for the trader in forex trading.

Plus500 FAQs

► Does Plus500 charge high fees?

No, the CFD broker settles fairly according to spreads. Although the spreads vary depending on the business and market, the fees are still to be regarded as low. They do not charge any extra order costs, like many other providers.

► Which payment methods does Plus500 offer?

In addition to the fast and popular PayPal provider, the Plus500 broker also offers payments via credit cards, Skrill and transfers. In this way, They ensure that the credit is available for trading as quickly as possible.

► Is Plus500 serious?

Yes, they meet all the requirements for a reputable online broker. This includes, among other things, proper regulation as well as visible risk warnings and sponsoring.

► How long do the withdrawals at Plus500 take?

Since they offer a long list of possible payment methods, the duration of the payouts also varies. The fastest way is with Skrill and PayPal – only a few minutes are estimated here.