Plus500
One uncomplicated platform of its own, plenty of markets, and not a cent of commission.
Fact sheet
What kind of broker is it?
Plus500 made a choice to keep things simple. It does not offer MT4 or MT5. What you get is its own interface, where CFDs are traded point-and-click, the cost is the spread and no commission is charged per trade. The mobile experience is one of its strengths. As a company it is headquartered in Israel, listed on the London Stock Exchange as PLUS, and run through operating entities in the UK, Cyprus, Australia and Singapore.
Where the points come from
These points measure fit, not rank. When a broker gets 5.0 for something, we judged it by the demands of its own category and did not compare it with every other broker.
The good and the not so good
In its favour
- Part of the FTSE 250, with shares on the LSE
- Top-tier regulators in 7 jurisdictions
- Spread is the only cost on CFDs; commission is nil
- Practise free with $40,000 in virtual funds
- Designed around the phone, and it shows
- You can place guaranteed stop-loss orders
Against it
- No way to use MT4/MT5; it is the house platform or nothing
- Copy trading and social tools are absent
- After 3 months idle, $10/month is charged
- On majors, ECN-style brokers quote lower spreads
- Chartists will want more advanced tools
Is it right for you?
Right for beginners and for people who trade CFDs now and then, if what they want most is a clean mobile app, a simple process and a well-regulated firm. Wrong for automated strategies and high-frequency trading.
Trading CFDs means trading with leverage, and losing money is a real and high risk. Check that this broker may legally serve residents of your country before you deposit. Its full risk warning is on its official website.