What We Tested
- Account type: Retail CFD Account ($500 starting balance for test)
- Platform: Proprietary WebTrader (Desktop & Mobile)
- Trading period: 3 months, 75 trades executed
- Pairs tested: EURUSD, GBPUSD, NASDAQ100
- Withdrawal tests: 3 successful (PayPal, Credit Card, Bank Wire)
- Support tests: 5 inquiries via email/chat
Testing focused on the usability of the proprietary platform and the transparency of the commission-free spread model. Execution speed is considered average for a Market Maker.
Regulation & Safety
Plus500 is one of the most rigorously regulated brokers, listed on the London Stock Exchange (LSE) and part of the FTSE 250 Index:
- FCA (UK) – Tier-1 regulation, FSCS protection up to £85,000.
- ASIC (Australia) – Tier-1 regulation, strict compliance.
- CySEC (Cyprus) – Tier-2 regulation, ICF compensation up to €20,000.
- MAS (Singapore) – Tier-1 license for Asian market operations.
Spreads & Execution
| Pair | Avg Spread (Commission-Free) | Execution Model | Commission |
|---|---|---|---|
| EUR/USD | 1.1 pips | Market Maker | $0 |
| GBP/USD | 1.7 pips | Market Maker | $0 |
| Indices (NASDAQ100) | 2.0 points | Market Maker | $0 |
| XAU/USD | 50 pips | Market Maker | $0 |
Spreads are dynamic but generally competitive for a commission-free Market Maker. All trading costs are included in the spread markup.
Execution Model (Market Maker)
- Execution Model: Market Maker (B-Book/Hybrid) - Broker acts as counterparty.
- Fill Time: Fast and Guaranteed (Risk of B-Book model is conflict of interest).
- Slippage: Fixed spreads prevent unfavorable slippage, but the fixed spread itself is the cost.
- Requotes: Not applicable due to fixed/guaranteed spread model.
Plus500's Market Maker model ensures guaranteed fills at the quoted price, which is excellent for beginner psychology. However, their reliance on this model means there is an inherent conflict of interest (they profit from client losses).
Publicly Traded (LSE) - Unmatched Trust
Plus500 is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 250 index. This provides an extreme level of investor trust:
- Financial Stability: Public listing requires stringent capital adequacy and regular audits by external authorities.
- Transparency: Quarterly financial reports are public, offering visibility into the company's fiscal health that private brokers lack.
- Fund Safety: This status strongly reinforces the security and segregation of client funds.
Trading with a publicly traded, LSE-listed broker offers the highest level of trust regarding fund security and financial transparency available in the retail CFD industry.
Account Types & Fees
Standard CFD Account (Single Tier)
- Min deposit: $100
- Spreads: From 0.8 pips (avg 1.1 pips on EUR/USD)
- Commission: $0
- Leverage: Up to 1:30 (FCA/ASIC standard)
- Best for: Simple trading, beginners, index traders
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: $0 (note: fees apply after 5 withdrawals/month or below min limit)
- Inactivity fee: $10/month after 3 months of inactivity.
- Overnight Fees: Standard swap fees (financing charge for leveraged positions).
- Currency Conversion: Up to 0.7% markup on trades denominated in a different currency.
Deposits & Withdrawals (Tested)
Plus500 supports fast, fee-free deposits and withdrawals through various electronic channels:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card | $300 | 1 business day | $0 | Return to source policy |
| Bank Wire | $500 | 3-7 business days | $0 | Note: $6 fee for international bank transfer |
| PayPal/Skrill | $150 | Same day (4 hours) | $0 | Fastest methods tested |
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Platforms & Tools
- Proprietary Plus500 Platform: Available for web, desktop, and mobile. Extremely user-friendly and intuitive.
- No MetaTrader (MT4/MT5): Zero support for industry-standard MT4/MT5 or cTrader.
- Tools: Access to guaranteed stop loss (subject to wider spread) and economic calendar.
- APIs: No public API access for retail algorithmic trading.
Our Take: The platform's simplicity is its strength—it’s perfect for beginners. However, the complete lack of MT4/MT5 support is a critical drawback for any serious EA trader or those accustomed to custom indicators.
Punitive Inactivity Fee (The Downside)
A major drawback for casual traders is the inactivity fee:
- Fee: $10 USD per month.
- Trigger: Applied after just three months (90 days) of no activity (no trades, no logins).
- Risk: If you deposit $100 and forget your account, it will be zeroed out in 10 months.
This fee is significantly more aggressive than the industry standard (usually triggered after 6-12 months and often waived). If you do not plan to trade or log in at least once a month, you should avoid Plus500.
Customer Support (Tested)
Plus500 offers 24/7 support primarily via electronic channels:
- Live Chat/WhatsApp: 24/7 support available, quick response times (tested: under 2 minutes).
- Email: Primary channel for complex inquiries, responses within 12-24 hours.
- Phone Support: Not available (or extremely limited). Support is digital-only.
- Quality: Support is generally fast and helpful for platform/account issues, but lacks the deep technical expertise found at ECN rivals.
The 24/7 digital support is a pro for global traders, but the complete lack of dedicated phone support for urgent issues is a minor drawback for a publicly traded company.
PROS
- Publicly traded (LSE) and rigorously regulated (FCA, ASIC, CySEC)
- User-friendly proprietary platform (ideal for beginners)
- Commission-free trading (spread markup only)
- Guaranteed Stop Loss feature available
- Free deposits and withdrawals (up to 5 per month)
- Negative Balance Protection
- Wide range of CFD assets (Shares, Indices, Commodities, Crypto)
CONS
- No MT4, MT5, cTrader, or API support (no EA/Algo trading)
- Inactivity fee of $10 per month after 3 months is punitive
- Market Maker execution model creates conflict of interest
- Spreads are average (1.1 pips EUR/USD) vs ECN rivals
- Limited analytical and research tools
Who Should Use Plus500?
- Great fit: Absolute beginners and retail traders who need simplicity, ease of use, and the highest level of regulatory safety (publicly listed, FCA/ASIC). Ideal for manual trading indices/shares CFDs.
- Good fit: Traders who only trade occasionally and prefer a simple, all-in-one platform.
- Not ideal: Algorithmic traders, scalpers, high-volume traders, or anyone who requires the MT4/MT5 platform or low ECN commissions.
Final Verdict
Plus500 is a highly secure broker, backed by strong Tier-1 regulation and its status as a publicly traded company on the LSE. This is its core strength, offering unmatched trust and fund safety.
The proprietary platform is extremely user-friendly, making it a gateway for beginners. Trading is commission-free, simplifying the cost structure for new traders. However, its Market Maker model and lack of MT4/MT5/API support create a significant technological constraint.
The $10 monthly inactivity fee after just 3 months is a drawback and penalizes casual traders, despite the broker's focus on simplicity. Spreads are competitive for its model (1.1 pips EUR/USD) but cannot compete with ECN raw spreads.