Plus500 Review – Great Forex Brokers

Plus500

Plus500 is a trademark of Plus500 Ltd – an Israeli broker that offers online trading services. The company operates through its subsidiaries Plus 500CY that is regulated by the Cyprus Securities and Exchange Commission (CySEC) and Plus500UK Ltd that is regulated by the Financial Conduct Authority (FCA).

The broker offers more than 2000 instruments divided into currency pairs, shares, commodities, ETFs and indices.

Plus500 provides only its own trading platform that is available as a desktop version, a web-based version and a mobile application.

There are two types of accounts – Standard Account and Gold Account. Gold account has different units deal size and provides 5% less premium charges.

The broker offers guaranteed and non-guaranteed stop loss orders. Guaranteed stop loss orders are not available for all instruments and a fee applies, expressed in a wider spread. Once placed, guaranteed stop loss orders cannot be canceled but can be changed. It can be activated on a new position only and can be edited during the instrument’s trading hours only. Non-guaranteed stop loss orders can be executed at a significantly different price than the initial one (at the first available market price) and the loss could be greater than expected. The Risk Disclosure Notice informs that during periods of low liquidity and higher volatility slippage exists and the market order can be executed at a different than shown in the platform price or be rejected.

The maximum leverage is 1:300, while the minimum deposit amount depends on the transaction type.

Clients should consider that higher leverage leads to a greater risk of loss. However, there is negative balance protection and the platforms close automatically all client’s position when margin call occurs (the equity becomes negative).

Plus500 acts as a market maker and is a counterparty to its customers, which means it doesn’t forward every deal to the liquidity providers. That could lead to potential conflicts of interests with the customers.

There is no information about the trading conditions available on the company’s website and customers must log into the platform to see the offered instruments. Plus500 applies an Inactivity fee of USD10, if there are no deals for a period of three months.