5/5

76.4% of retail CFD accounts lose money

    Available Countries
  • Worldwide, UK, Australia, Europe (Show More)
  • Deposit Methods
  • Credit Card, Debit Card, Bank Transfer, Paypal (Show More)
  • Cryptocurrency CFDs
    Exchange Type
  • CFD Trading Platform (CFD)
  • CFD Instruments
  • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
Margin Trading
  • Yes
  • Built In Wallet
  • No
  • Compensation Scheme
  • Yes
  • Regulated
  • Yes
  • Minimum Deposit
  • €100 for credit card deposits.
  • Deposit Fees
  • Free (Show More)
  • Withdrawal Fees
  • Free, For more than 5 withdrawals per month a $10 fee per withdrawal is applicable (Show More)
  • Trading Fees
  • Varies, A spread fee from 0.56% up to 3.28% applies (Show More)
  • Limits
  • Varies, Up to 1:2 leverage on cryptocurrency CFDs (Show More)
  • Verification
  • KYC Verification (Show More)
  • Jump to page contents

    Plus500 Platform Review

    Plus500 is one of the leading trading platforms that offer CFD trading in Shares, Indices, Forex, Cryptocurrencies, ETFs, Options, and Indices. The platform is owned and operated by Plus500 CY Ltd, a subsidiary of Plus500 Ltd which is listed on the London Stock Exchange’s Main Market. Plus500UK Ltd is authorised and regulated by FCA (Financial Conduct Authority)(# 509909). Plus500CY Ltd is authorised and regulated by CySEC (Cyprus Securities Exchange Commission) (# 250/14) and is headquartered in Limassol, Cyprus.  Plus500AU Pty Ltd is regulated by the Australian Securities and Investments Commission, ), licensed by: ASIC in Australia (ACN 153301681). Plus500SG Pte Ltd holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products. Plus500IL Ltd is registered in Israel and licensed to operate a trading platform.

    76.4% of retail CFD accounts lose money

    plus500 exchange review
    Screenshots are shown for illustration purposes only. Actual product may vary.

    The company claims that it doesn’t use the clients’ funds for hedging or other purposes, in accordance with the UK Financial Conduct Authority’s client money protection rules. Under these rules, it keeps clients’ assets in segregated bank accounts. The Plus500 CFD trading platform offers its services to members around the world through different subsidiaries. The web trading platform of Plus500 supports 30 different languages including Spanish, French, Italian, German and Portuguese.

    The trading platform of Plus500 is both intuitive and user-friendly, to provide a seamless user experience. At the time of writing, Plus500 offers a portfolio of over 2000 instruments (including cryptocurrency CFDs) on its trading platform. It even allows users to buy and sell a Crypto10 CFD index which follows price movement of the top 10 cryptocurrencies. Moreover, the platform offers a free demo account to users allowing them to test and improve their trading skills without the risk of losing money.

    The following review analyses several aspects of Plus500, whilst providing you with an all-rounded detailed overview of the platform and its services. Although Cryptimi does its best to provide you with accurate information, whilst aiming to update it on a regular basis, we strongly recommend that you visit their website for any important updates which might occur after this review has been published.

    Is Plus500 Safe?

    Plus500 claims that all the personal/sensitive information (credit card numbers, CVV, password, and so on) provided by users are automatically transferred by SSL (Secure Socket Layer) to a secure environment. Also, Plus500 offers Client Money Protection by not handling users’ funds for hedging or other investments. It securely stores users’ funds in segregated client bank accounts.

    Plus500 CFD Trading Platform

    Plus500 allows users to trade CFDs of the most popular cryptocurrencies like Bitcoin, Ethereum, Litecoin. It also provides an option to trade the CFD named Crypto 10 Index. Apart from cryptos, it even offers CFD trading in Shares, Indices, Forex, Options, Commodities (Oil, Gold, Gasoline) and ETFs. To get the full list of instruments available on Plus500, check out their website.

    76.4% of retail CFD accounts lose money

    Plus500 Crypto Markets
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To start trading crypto CFDs, users needn’t have an account or a cryptocurrency wallet. The platform offers a leverage of 1:2 for trading crypto CFDs and users can start trading with as little as 100 EUR.

    User Friendliness

    The trading platform of Plus500 is quick and easy to navigate. It even provides an easy option to configure real-time alerts for the price movements of instruments. Basically, it offers three types of alerts:

    • Price Alert – to stay informed when an instrument reaches a specific Buy or Sell price.
    • Change (%) – to get notifications when an instrument’s absolute price change (positive/negative) reaches a certain level.
    • Trader’s sentiments – where notifications will be sent when the percentage of buyers or sellers reaches a certain level.

    Plus500 also offers a mobile app (Android / iOS ) to help users for trading on the go.

    Plus500 CFD Trading Account

    The sign-up process on Plus500 is straightforward since you only need to provide an email address to create an account. Apart from trading fees, there are additional fees which are clearly listed on the website. Additionally, Plus500 allows users to reset their password, in case they forget it.

    How to Sign up on Plus500

    Follow the below steps to create your account on Plus500:

    Plus500 Exchange Signup Page

    1. Navigate to their site and click ‘Start Trading Now’.
    2. Next, select ‘Real Money’. (But, if you would like to try out their demo account, then select ‘Demo Mode’)
    3. Enter your email address, password and click ‘Create Account’.

    Congratulations! You have successfully created an account with Plus500.

    How to Log in on Plus500

    To log in to your account, follow the below steps:

    Plus500 Exchange Log In

    1. Navigate to their site and click ‘Log in’
    2. Enter your email address, password and click ‘Log in’

    After logging in to your account, you must provide your personal details and upload the required documents to verify your identity. Only then, you will be able to start trading on Plus500.

    Verification Requirements

    In order to start trading on Plus500, users need to verify their account by submitting all the required documents. Since Plus500 follows a strict KYC (Know Your Customer) policy, it expects its customers to verify their personal information, including their date of birth and other valid contact details. To verify their identity, users must upload a government-issued identification document which contains all the necessary information. For verifying the residential address, users can upload a copy of their utility bill, bank/credit card statement, phone/internet bill and/or a tax letter.

    Some jurisdictions accept electronic verification, while others require users to provide a hard copy of their documents. Plus500 also asks for users to upload a copy of the bank statement or the front of their debit/credit card, to verify funds’ sources.

    How to Buy or Sell Bitcoin CFDs with Plus500

    Follow the below steps to buy/sell Bitcoin CFDs on Plus500 trading platform. Before starting to place your order, make sure that you have deposited funds in your account.

    Plus500 Bitcoin CFD Market
    Screenshots are shown for illustration purposes only. Actual product may vary.

    How to Deposit Funds on Plus500

    Follow the below steps to deposit funds on your account. The minimum amount of deposit varies depending on the payment method. For example, you need to deposit at least 100 EUR, if you are using credit/debit cards.

    1. Log in to your account and click ‘Menu’-> Funds Management->’Deposit’.
    2. Select your desired payment method from the list of options (i.e. PayPal, Skrill, Bank Transfer, Credit/Debit card)
    3. Enter the amount of your deposit (Make sure that the deposit amount is within the minimum/maximum limits displayed on your screen)
    4. Fill in all the required fields. Be sure to provide your card number, expiry date, and CVV, in case you select credit/debit cards as your payment option.
    5. Finally, click ‘Make a deposit’.

    Then, you will see a confirmation window with the message ‘Your deposit was approved!‘. Depending on the processing time of your payment provider, funds will be credited to your Plus500 account.

    Now, let’s see how one can buy Bitcoin CFDs on Plus500:

    1. Log in to your account and click Trade –> Cryptocurrencies.
    2. Here, you will see the full list of CFDs on cryptocurrencies. Click ‘Buy’ or ‘Sell’ button when you come across the Bitcoin icon.
    3. Now, a window will appear on the right-hand part of your screen with several fields. Enter the number of contracts, profit and stop-loss levels.
    4. Then, the required margin for the position will be displayed on your screen. You need to make sure that you have enough funds in your account to meet the margin amount. Otherwise, you can adjust the number of contracts accordingly.
    5. Finally, click ‘Buy’ or ‘Sell’ to open a position.

    Once your order is processed, real-time information about your open position such as required margin, Profit/Loss will be updated. To close a position, just click the ‘Close’ button that appears next to an open position.

    76.4% of retail CFD accounts lose money

    Warning: Since CFDs are complex instruments, they always 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. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page

    Since trading in CFDs is completely different to trading cryptocurrencies, it is highly recommended to understand the following terminologies:

    • CFD (Contract For Difference) – is a form of derivative trading that allows traders to speculate on the rise or fall of prices of instruments like shares, cryptocurrencies and commodities.
    • Spread – in general, it indicates the difference between two prices, rates, or yields. It can also be defined as the gap between bid and asking price of an asset or security. It can also be the difference between a short position (selling) and long position (buying).
    • Derivative – is a contract that derives its value from the performance of an underlying entity. This underlying entity can be an asset, index or interest rate. Some examples of derivatives are futures, options, swaps and forwards.
    • Pip (Point in Percentage) – is a very small measure of the change in a currency pair in Forex trading.
    • Order – is a request to open a position at a specified price.
    • Initial Margin – is the minimum amount of funds required to open a new position. It varies based on the instrument type.
    • Maintenance Margin – is the amount of equity needed by a customer to keep a position open.

    How to Cash Out on Plus500

    Plus500 allows users to withdraw their funds using different payment methods like bank transfer, credit/debit cards or electronic wallets (PayPal/Skrill). The minimum withdrawal requirements vary based on the payment method. Follow the below steps to place your withdrawal request:

    1. Log in to your account and click on Menu->Funds Management->Withdraw.
    2. Select your desired withdrawal method and enter the amount of withdrawal. (Make sure the amount is within the minimum/maximum limits displayed on your screen)
    3. Fill in all the required fields related to your payment method. For example, you must provide your account number, name and other details, for a bank transfer.
    4. Finally, click ‘Open Withdrawal’.

    Then, you will see a confirmation window with the message ‘Your withdrawal was successfully submitted’. Generally, the processing time for a withdrawal request is one business day. Depending on the processing time of your payment provider or bank,  funds will be credited to your account.

    Supported Cryptocurrencies

    At the time of writing, Plus500 supports the following cryptocurrency CFDs:

    • Bitcoin (BTCUSD)
    • Ethereum/Bitcoin (ETHBTC)
    • Ethereum (ETHUSD)
    • Crypto 10 Index (Crypto10)
    • Litecoin (LTCUSD)
    • NEO (NEOUSD)
    • Ripple XRP (XRPUSD)
    • IOTA (IOTUSD)
    • Monero (XMRUSD)
    • Stellar (XLMUSD)
    • EOS (EOSUSD)
    • Bitcoin Cash ABC (BABUSD)
    • Cardano (ADAUSD)
    • Tron (TRXUSD)

    To get the full list of cryptocurrency CFDs supported by Plus500, check out their website.

    Supported Countries

    Plus500 accepts members from over 50 countries worldwide to trade.

    Supported

    Except for the countries listed in the below section, Plus500 is available for all countries including the EU, United Kingdom (UK), Australia, Switzerland, United Arab Emerites, Qatar, New Zealand, Netherlands, South Africa, Spain, Sweden, Singapore, Saudi Arabia, Portugal, Oman, Mexico, Malaysia, Italy, Germany, Bahrain, Hong Kong, Austria, Chile, Colombia, Cyprus, Crech Republic, Denmark, Finland, Israel, Luxemburg, Poland, Argentina, Bulgaria, Greece, Ireland, Latvia, Malta, Romania, Slovakia and many more countries.

    76.4% of retail CFD accounts lose money

    Excluded

    At the time of writing, Plus500 does not accept users from the following countries: US, India, Japan, Canada, El Salvador, Belgium, Turkey and Vietnam.

    Platform Fees & Limits

    Every CFD trading platform has its own fee structure and limits.

    Fees

    Trading Fees

    Since Plus500 is mainly compensated for its services through the market spread, it doesn’t charge any commissions on each trade. However, a fee is applicable if you place a ‘Guaranteed Stop Order’. An Overnight Funding fee (explained below) might be applicable, depending on your trading activity.

    Overnight Funding

    The overnight funding amount will be added to or subtracted from your account when holding a position after a certain time. The fee varies depending on cryptocurrency chosen. For example, overnight funding percentage for Bitcoin (BTCUSD) is 0% (Sell) and -0.0503% (Buy). To find out Overnight fee for specific crypto, navigate to their Instruments page, select the crypto and click the link titled ‘View full details’.

    Inactivity Fee

    A fee of up to $10 is applicable if users would not have logged on to the trading platform for a period of three months. However, the fee will be deducted only if there are sufficient funds available in the account.

    Spread Fee

    Plus500 offers a fixed or dynamic spread for its instruments. The calculation of spread can be conducted by subtracting selling price from buying price of the instrument. The dynamic spread can change during the period a position is open, whereas fixed spread remains unchanged from the time you open the position until the position is closed.

    To find out the spread fee for a crypto, navigate to their Instruments page and click ‘View full details’ for the crypto you would like to trade. This section has other information which includes initial margin, maintenance margin, leverage and overnight funding fee.

    At the time of writing, the ‘Spread‘ and ‘Spread (%)‘ for various cryptocurrency CFDs were as follows:

    • Bitcoin (BTCUSD) : 55.01, 0.56%
    • Ethereum/Bitcoin (ETHBTC): 0.0003, 1.35%
    • Ethereum (ETHUSD): 2, 0.93%
    • Crypto 10 Index (Crypto10): 39.7, 1.25%
    • Litecoin (LTCUSD): 0.62, 0.67%
    • NEO (NEOUSD): 0.2, 1.69%
    • Ripple XRP (XRPUSD): 0.0062, 1.98%
    • IOTA (IOTUSD): 0.01, 3.28%
    • Monero (XMRUSD): 1.75, 2.18%
    • Stellar (XLMUSD): 0.021,2.46%
    • EOS (EOSUSD): 0.044, 0.98%
    • Bitcoin Cash ABC (BABUSD): 2.58, 0.86%
    • Cardano (ADAUSD): 0.0009, 1.56%
    • Tron (TRXUSD): 0.0006, 2.62%

    Deposit/Withdrawal Fees

    Generally, Plus500 doesn’t charge any fee to deposit/withdraw funds. However, a fee of $10 is applicable if users exceed the maximum number of monthly withdrawals, which is 5. If you are making international credit card transactions and using a currency that is not supported by the platform, then a Forex conversion fee may be applicable. In this case, the conversion fee will be determined by your payment provider or bank, and not by Plus500. Refer to the ‘Fees’ and ‘Limits’ sections of this review to know more about deposit/withdrawal limits.

    Warning: Since CFDs are complex instruments, they always 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. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page

    Limits

    The deposit/withdrawal limit varies depending on the payment method and it will be displayed on your account dashboard. For example, the minimum deposit/withdrawal limit for credit/debit card is 100 EUR. For trading cryptocurrency CFDs, your account balance should be greater than or equal to the initial margin which is calculated using the following formula:

    IM = position’s opening price*size of the trade*initial margin percentage

    Initial margin percentage for cryptocurrency CFDs is fixed at 50.00%. The leverage offered by Plus500 for all cryptocurrency CFDs is 1:2.

    Supported Payment Methods

    Plus500 supports a wide range of fiat payment options which are given below:

    • Credit/Debit cards (VISA/Master)
    • Bank Transfer
    • PayPal
    • Skrill

    Warning: Since CFDs are complex instruments, they always 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. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page

    Plus500 Security

    Like most platforms, Plus500 also provides 2FA protection (via SMS) to protect users’ accounts from unauthorized access. In addition to this, users can also be notified if a login is attempted from a new device.

    Plus500 Customer Support

    The trading platform offers 24/7 support to its customers via Email and WhatsApp. To contact their customer support via email, navigate to their support page, fill out the required information and click on ‘Send query’. Alternatively, you can send a message to their WhatsApp number, and you will probably get a much quicker response. For general queries, users can refer to the articles listed on the FAQs section of the website.

    Top Competitors

    Plus500 vs eToro

    Both platforms offer trading in CFDs for the most popular cryptocurrencies like Bitcoin, Ethereum, Litecoin. Like Plus500, eToro is also authorised and regulated by CySEC. Regarding fees, Plus500 doesn’t charge any fee for deposits/withdrawals, whereas a small crypto transfer fee is applicable with eToro, which incidentally supports more cryptocurrency CFDs than Plus500.

    Plus500 vs AvaTrade

    Both CFD trading platforms are regulated by European financial regulator and offer trading in CFDs for the top cryptocurrencies including Bitcoin, Ethereum, Litecoin. Both Plus500 and AvaTrade allow users to trade on the go with their mobile apps. When compared to AvaTrade, Plus500 supports a large number of instruments including shares, commodities, cryptocurrencies and more.

    Conclusion

    With its intuitive user interface, a free demo account and 24/7 customer support, Plus500 is an excellent platform for trading CFDs. Since it is regulated, it can be guaranteed that the platform operates correctly by following all protocols. However, it is highly recommended for users to be conversant in CFDs and how they actually work before taking the plunge and deciding to trade. Moreover, users should consider the fact that 76.4% of retail investor accounts lose money when trading CFDs with this provider.

    76.4% of retail CFD accounts lose money

    Warning: Since CFDs are complex instruments, they always 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. Hence, it is advised for you to fully understand how CFDs work and make an informed decision based on your research. It is up to you to decide whether you are willing to take the high risk of loss of assets or not. To find out more information about the risks in trading on this platform, it is highly recommended for you to check their disclosure page

    Rating Score

    Pros

    • Regulated broker
    • Demo account
    • Offers 2000+ instruments
    • Offers 14+ cryptocurrency CFDs
    • Live chat

    Cons

    • A limited number of crypto CFDs

    Similar Platform Reviews

    iqoption.com

    IQ Option is a leading multi-asset trading platform which offers CFD trading in Stocks, Commodities, Cryptocurrencies, Forex, ETFs, and Indices.

    Rating 4.5/5
    Full Review

    77% 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.

    etoro.com

    eToro is one of the leading, fast-growing, multi-asset trading platforms that offer CFD trading in Stocks, Cryptocurrencies, Commodities, and more.

    Rating 5/5
    Full Review

    66% 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.

    cex-promotion exmo-promotion