Max. Leverage
for Forex

Minimum Deposit
EUR/USD Spread
1.5 pips

Plus500 is a CFD trading platform that offers Forex trading and CFDs on indices, options, commodities, ETFs, shares and cryptocurrencies.

Plus500 was launched in 2008 and is authorized by ASIC to offer CFDs trading services in Australia.

In this review, we will look at safety, trading conditions, fees, tradable instruments, and customer support at Plus500.

Plus500 Review Summary
🏢 Broker Name Plus500AU Pty Ltd
📅 Establishment Date 2008
🌐 Website
🏢 Address Plus500AU Pty Ltd, P.O. Box H339, Australia Square, Sydney NSW 1215, Australia.
🏦 Minimum Deposit $200
⚙️ Maximum Leverage 1:30
📋 Regulation ASIC, FCA, CySEC, FSCA, MAS, FSA Seychelles
💻 Trading Platforms Plus500 Trader for PC, Mac, Web, Android, & iOS
Visit Plus500

Plus500 Pros

  • Regulated by ASIC in Australia
  • Has 24/7 online customer support
  • Offers negative balance protection for retail clients
  • Offers a wide range of instruments to trade
  • Plus500 is listed on the London Stock Exchange
  • Offers commission-free trading on all accounts
  • Does not charge any fees for deposits or Withdrawals

Plus500 Cons

  • No phone support
  • Does not support MT4, MT5 or EAs
  • Charges dormant account fees
  • Slow processing of deposits & withdrawals

Is Plus500 trusted?

Plus500 is considered safe for traders, has low risks, and is highly trusted. This is because of their high level of regulation: they are regulated in multiple jurisdictions by Top-Tier regulations.

Plus500 Ltd is the parent company of Plus500. Registered in Israel, Plus500 Ltd has subsidiaries in the UK, Europe, Asia, and Africa.

Plus500 Ltd is a publicly listed UK company, listed on the London Stock Exchange since 2018. The company’s subsidiaries and their main regulatory bodies are listed below.

1) Australian Securities & Investments Commission (ASIC): Plus500 is regulated by ASIC as Plus500AU Pty Ltd. The company registered in 2011 with ACN (Australian Company Number) 153 301 681.

Plus500 Regulation with ASIC

2) Financial Conduct Authority (FCA), United Kingdom: Plus500 is regulated in the UK as Plus500UK Ltd since 2010. The company is authorised to provide investment services in CFDs (Contracts for Differences) trading by the FCA, Reference No. 509909.

Plus500 FCA License

3) Cyprus Securities and Exchange Commission (CySEC): Plus500 is licenced by CySEC as Plus500CY Ltd to provide investment services with licence number 250/14 issued in 2014.

Plus500 license in Europe

4) Financial Sector Conduct Authority (FSCA) in South Africa: Plus500AU Pty Ltd. is authorized by the FSCA to offer financial services in South Africa with FSP No 47546, issued in 2017.

Plus500 License in South Africa

5) Financial Services Authority (FSA), Seychelles: Plus500SEY is registered in Seychelles as a securities dealer and licensed by FSA, Seychelles with license number SD039. This is an Offshore regulation.

Plus500 License with FSA Seychelles

6) Monetary Authority of Singapore: Plus500 is licensed by the MAS as PLUS500SG PTE. LTD. to deal in securities and forex trading.

Plus500 License in Singapore

Plus500 Investor Protection

Client Country Protection Regulator Legal name
Australia $20,000 Australian Securities & Investments Commission (ASIC) Plus500AU Pty Ltd
United Kingdom £85,000 Financial Conduct Authority (FCA) Plus500UK Ltd
Cyprus (EU) €20,000 Cyprus Securities and Exchange Commission (CySEC) Plus500CY Ltd
Other countries No Protection Financial Services Authority (FSA), Seychelles Plus500SEY
Singapore Redress Framework Monetary Authority of Singapore (MAS) PLUS500SG PTE. LTD.

Plus500 Leverage

Leverage on Plus500 is determined by the type of account you have and the asset you are trading.

The maximum leverage on Plus500 for Retail Account holders is 1:30 and 1:300 for Professional Account holders, which applies to major forex pairs while other instruments have lower limits.

With a leverage of 1:30, you can open a trade position worth 30 times the value of your deposit. For example, you can place a $30,000 trade on a major forex pair with a deposit of $1,000.

Leverage for Pro clients on Plus500

Note: Trading leveraged products involves risks and you can lose your money in the process. It is best to avoid trading CFDs unless you understand it and have experience. It is important that you do not use all the leverage available on your account as this increases the risk of capital loss.

Plus500 Account Types

Plus500 offers two main types of accounts: the Retail Account and the Professional Account. Plus500 does not offer Islamic accounts to clients in Australia, but you can open a demo account for practice or get a Premium Account which qualifies you to receive premium services from the broker.

The type of account you have on Plus500 determines how much leverage is available to you and the fees you will pay.

Find details about the different types of trading accounts on Plus500 below:

1) Retail Account: When you open an account with Plus500, you automatically have a Retail Account – it’s the default account assigned to new users. This account is designed for retail clients with little or no experience trading financial markets.

You can trade forex currency pairs and CFDs on indices, shares, commodities, exchange-traded funds (ETFs), cryptocurrency, and options on this account.

The Plus500 Retail Account is a spread-only account, with zero commission charges when you open or close trade positions. However, swap fees apply for holding a position overnight, and spreads start from around 0.6 pips.

To start trading with this account, you will need to make a minimum deposit of AUD 200 and the maximum leverage for this account is 1:30.

The Retail Account on Plus500 has negative balance protection, which means that if you make a loss on a trade, you cannot lose more than the money in your trading account, as any negative balance on your account will be reset to zero.

2) Professional Account: The Plus500 Professional Account is for traders with large portfolios and a high level of experience, who want to trade with higher leverage.

You can trade foreign exchange currency pairs and CFDs on indices, shares, commodities, ETFs, cryptocurrencies, and options using this account.

The Plus500 Professional Account does not charge commission fees when you open or close trade positions. However, you pay swap fees for holding a position overnight, and spreads start from around 0.6 pips.

To start trading with this account, you will need to make a minimum deposit of AUD 200 and the maximum leverage for this account is 1:300. The Professional Account on Plus500 also has negative balance protection.

To activate a Professional Account on Plus500, you will need to meet at least one of the following criteria:

  1. You have net assets in excess of AU$2.5 million; or
  2. You have a gross income of at least AU$250,000 for the past 2 financial years

If you meet these criteria, you can apply for an account upgrade from Retail to Professional by submitting a request to customer support via email or live chat. You will be required to submit a certificate by a qualified accountant before your application is approved.

Note that if you meet the criteria with another CFDs broker, you will need to provide a document showing your trading activity in the last 12 months and documents proving your financial instrument portfolio holds more than €500,000 of cash deposits and financial instruments.

You can also choose to convert your Professional Account to a Retail Account at any time by contacting customer support.

Professional Account on Plus500 Australia

3) Premium Account: Plus500 offers active traders the opportunity to upgrade to a Premium account. This account is offered by invitation only, after meeting certain criteria. As a Premium Account owner, you will have a personal account manager and priority support.

If you become eligible for a Premium Account, you will receive an email and you can choose to accept or reject the offer.

Plus500 Base Account Currency

When you sign up on Plus500 in Australia, your trading account currency is automatically set to Australian Dollars – AUD. You can change it to other currencies by contacting customer support.

Deposits, trades, and withdrawals will be measured in this currency.

Plus500 Overall Fees

To help you understand Plus500’s fees and charges, we have provided a summary below.

Trading fees

1) Spreads: Plus500 charges spread fees on trades. This represents the difference between the “ask” (sell) and “bid” (buy) prices of financial instruments. Spreads on Plus500 start from around 0.6 pips.

Plus500 uses a variable spread system that continuously updates throughout the day and is adjusted in line with market movement, liquidity, and volatility.

Below is a breakdown of the typical spreads charges on the major instrument pairs:

2) Commission fees: Plus500 offers commission-free trading on all of its trading instruments and is applicable to all account types. This means you can trade without paying commission fees for opening or closing trade positions.

Plus500 Trading Fees Table

Here is a summary of the typical fees Plus500 charges on some instruments:

CFD instrument Spread Commission
EUR/USD 1.5 pips None
GBP/USD 1.9 pips None
EUR/GBP 1.7 pips None
AUD/USD 1.4 pips None
XAU/USD (Gold) 0.28 pips None
Crude oil 0.04 pips None
UK100 2 pips None
S&P 500 0.7 pips None

*Note that swap fees fluctuate as the market moves.

3) Swap fees: Whenever you keep a trade position open past the market’s closing time Plus500 charges swap fees (overnight funding fees). The fee is deducted from your profit or loss when you close the trade position.

The fee is determined based on the size of the trade, the leverage, the instrument being traded, the number of nights the trade was open, and whether your trade position is long swap (buy) or short swap (sell).

4) Currency Conversion fees: When trading instruments denominated in a currency different from the currency of your account, Plus500 charges a currency conversion fee. For example, if your account base currency is AUD and you trade GBP/USD, you will incur a currency conversion fee.

The fee is automatically added to the unrealized profit or loss of an open position.

Non-trading fees

1) Deposit and Withdrawal fees: You do not pay any fees when you deposit money into your Plus500 account or withdraw money from it. This applies to all payment methods supported by Plus500.

Be aware that some payment methods may charge additional/independent processing fees, and If you request a withdrawal for an amount less than the minimum amount, your account may be charged a service fee.

2) Account Inactivity charges: If you do not log into your trading account for 3 months, Plus500 will charge US$10 in inactive account fees per month from the balance in your account. If you have no money in your account, no fees will be charged.

Plus500 Non-trading Fees Table

Fee Amount
Inactivity fee US$10 per month
Deposit fee Free*
Withdrawal fee Free*

*Note that your payment processing company may charge some independent transaction fee.

How to Open Plus500 Account in Australia?

To start trading with Plus500, follow the steps below to create a Plus500 trading account.

Step 1) Go to the Plus500 website homepage via and Click the ‘Start Trading Now’ button.

Plus500 Website Australia

Step 2) Input your email and create a password on the form that appears then click ‘Create Account’. You will be redirected to the Plus500 WebTrader.

Create Account on Plus500 Australia

Step 3) To complete your registration, click on the three bars on the left side of the WebTrader, then click the ‘Get Started’ button.

Register Account on Plus500

Step 4) Type your full name and date of birth on the personal details form provided, then click Next. Fill out the address information and click ‘NEXT’.

Plus500 Account Signup Information

New User Registration Plus500

Step 5) Answer questions about your financial status, CFDs trading experience, and knowledge of trading.

After that, check the box to agree to the terms and conditions and click ‘Finish’.

Register with Plus500 Australia

New Trader Signup Plus500

Step 6) To verify your account, click on the menu (three bars) on the left, then select ‘Account’ and click on ‘Verify Account’. You will be required to upload some documents to verify your identity and address.

Verify Account on Plus500

Activate Plus500 Account

After your account is verified, you can make deposits, trade, and withdraw funds.

Plus500 Deposits & Withdrawals

Plus500 offers several ways to deposit and withdraw funds, including bank transfers, debit/credit cards (Visa, MasterCard, & Maestro), and e-wallets like Skrill and PayPal.

Plus500 Deposit Methods

Here is a summary of payment methods accepted by Plus500 for deposits.

Deposit Methods Availability Charges Processing time
Local Bank Transfer Yes Free Up to 5 business days
Cards Yes Free Instant
E-wallet Yes (Skrill, PayPal) Free 24 hours

Plus500 Withdrawal Methods

Here is a summary of payment methods for withdrawals accepted on Plus500.

Withdrawal Methods Availability Charges Processing time
Local Bank Transfer Yes Free 1 to 5 business days
Cards Yes Free 1 to 5 business days
E-wallets Yes (Skrill, Paypal) Free 1 to 5 business days

What is Plus500 Minimum deposit?

The minimum deposit on Plus500 depends on the payment method you are using. Plus500 requires a minimum deposit of AU$200 for Debit/Credit card – Visa/Master Card/Maestro Card, and Electronic wallet – (PayPal/Skrill), AU$100 for BPay and Poli, AU$150 for ApplePay, and AU$500 for Bank transfers.

Deposits via bank transfer on Plus500 are credited within 5 business days while e-wallets and card deposits are credited instantly.

How do I Deposit Funds?

To deposit funds to your Plus500 trading account and start trading, follow these steps:

Step 1) Log in to your Plus500 account at by clicking on Login at the top bar menu, input your email address and password, and click ‘Login’.

Login to Plus500 AU

Step 2) After you log in, click the 3 lines on the left-side menu tab and then select the ‘Deposit’ link.

Deposit on Plus500

Step 3) You will need to select the payment method, enter the amount you want to deposit, and follow the on-screen instructions to complete your deposit.

Plus500 Deposit Methods

What is Plus500 Minimum withdrawal?

The minimum withdrawal amount on Plus500 is AU$130 for Debit/Credit card – Visa/Master Card/Maestro Card, AU$70 for e-wallets – PayPal/Skrill, AU$150 for ApplePay, and AU$130 Bank transfer.

Your withdrawal to all payment methods will be processed within 3 business days and may take 3-7 business days for you to receive the funds depending on the payment method you are using.

How to Withdraw Funds from Plus500 in Australia?

You can follow these steps to withdraw your money from Plus500 Australia.

Step 1) Log in to your dashboard, then click the left side menu, and select ‘Funds’.

Step 2) Click Withdraw on the main menu and select a withdrawal method.

Withdraw From Plus500

Step 3) Next, fill in the amount you want to withdraw and other fields required.

Then click ‘Open a Withdrawal’ and follow the instructions shown to complete the transaction.

Plus500 Payment Methods Australia

Be aware that withdrawal payments can only be made to the same source that was used to make the deposit, and the payment methods must match the name on the trading account.

Also, you need to verify your account before you can initiate any withdrawals.

Plus500 Trading Instruments

You can trade more than 2000 financial instruments with Plus500. The products are distributed among the following categories.

Instrument Availability Number
Forex CFDs Yes 66 currency pairs on Plus500 (including majors & minors)
Commodities CFDs Yes 22 spot commodities on Plus500 (including oil, gas, coffee, and others)
Shares CFDs Yes 1,655 shares on Plus500 (From 24 countries including the UK, USA, Japan, Sweden, South African shares and others)
Indices CFDs Yes 27 spot indices on Plus500 (US-TECH 100, UK100, GER40, and others)
Options CFDs Yes 356 Options on Plus500
ETFs CFDs Yes 96 ETFs on Plus500
Crypto CFDs Yes 19 Cryptocurrencies on Plus500

Plus500 Trading Platforms

The Plus500 Trader is the only trading platform supported by Plus500. The platform is owned by Plus500 Ltd and allows you to trade a large variety of financial instruments.

MetaTrader 4, MetaTrader 5. EAs cannot be integrated into the platform.

You can use Plus500 Trader on the web, macOS, and Windows desktops, as well as Android and iOS devices.

Plus500 Trading Platform

Plus500 Trader comes with risk management tools that protect you from extreme losses. They have the conventional stop loss but it is liable to slippage. To reduce this risk, Plus500 provided guaranteed stop loss orders on the platform. With this tool, your stop loss will not be exceeded no matter how volatile the market is. The only downside is that it is not available for all CFDs on Plus500 Trader.

In addition, Plus500 Trader has a good charting display. It has various chart types like candlestick charts, bar charts, etc. You will also have access to historical price movements, trading volumes, baseline, etc. The platform also has top technical indicators like the MACD, Bollinger bands, moving averages, and relative strength index.

Plus500 Execution Policy

Plus500 automatically processes your orders via Straight Through Processing. They are an STP broker with no dealing desk. There is no conflict of interest issue between Plus500 and their clients. When you open a position, Plus500 hedges the risk with a counterparty. This way, they have no personal gains from your losses. It is a key component of their execution.

Price quotes are supplied by liquidity providers and other third-party sources. This confirms that Plus500 is not a market maker. Their execution policy strives to secure the best tradable prices from these sources. Though there are rare occasions where you might not the best price, Plus500’s execution is good enough for an STP broker. In addition, prices are obtained from various sources to prevent excessive reliance on a singular source. These sources are reviewed regularly to make sure only competitive prices are provided.

There aren’t many details on costs that we have not covered under the fees section. However, you should note that spreads can be readjusted based on volatility and other market factors. GSLOs, swaps, and currency conversion fees are other points under costs. Plus500 charge you for guaranteed stop loss orders by widening the spread of the CFD you are trading.

High relevance is also attached to the speed and the likelihood of execution. Under normal circumstances, your trades will be executed at the level you request. But your trades can be rejected or executed at a different level in certain conditions. For example, if you are trading with poor internet speed or there is high volatility, the quoted price may not be representative of the underlying market price. In this case, your trade will be executed at the best available price. This new price may be beneficial or detrimental depending on price movement.

If volatility is so high that the price has moved beyond a level where the best available price can be found, your order will be rejected. Guaranteed stop loss orders will be executed at the requested level regardless of volatility.

The level of liquidity available also affects the likelihood of your order being executed. In tile of low or zero liquidity, Plus500 reserves the right not to execute your trade. Also, if there is a rare situation where there is a halt or suspension of trading on which the underlying product is traded, your order can be rejected.

Plus500 Education and Research

There are different ways you can learn with Plus500 UK. Here are some of them.

1) Demo Account: A demo account allows you to trade with virtual money. Profits and losses made on this account are virtual as well. A demo account is useful for both beginners and experts. As a beginner, you can attempt to open a demo account with the same amount of money you want to use for your live account. If you are an expert, you can test newly developed strategies. Plus500’s demo account does not expire.

2) Economic Calendar: Plus500 economic calendar is good for you if you love to research. The economic calendar covers macroeconomic events that are key to trading currency pairs. Also, it covers corporate events. Corporate events are important for trading shares CFDs. The calendar is equipped with a filter so you can choose the exact time period you want to review.

Plus500 Research

3) Ebook: Plus500’s e-book contain information about the broker and the basics of forex trading. The book is not so detailed. However, the knowledge in it can come in handy, especially in the glossary section. The glossary covers basic and advanced terms on forex trading.

4) Videos: There are 10 videos on Plus500’s website covering topics like slippage, risk-to-reward ratio, margin requirements, etc. The downside is that these videos are not structured for systematic learning.

5) News and Insights: The news and market insights section is helpful for fundamental traders. Apart from educating articles, important news and analytical reports are uploaded when key economic data is about to be released. There is also a search bar that allows you to backdate the page. With this, you can keep track of past data and their effects on the market.

Plus500 Australia Customer Service

Plus500 customer support is available 24 hours a day via these channels:

1) Live chat support: Plus500 offers live chat support through their website. Plus500 Live Chat agents respond quickly, and a chat agent was able to answer our questions correctly in less than a minute when we tested the service by starting a chat.

Plus500 live chat is available 24/7 and can be found on the bottom right corner of their website on a desktop. In order to start chatting, you have to enter your name and email address.

Plus500 Online Support

Plus500 Live Chat Australia

2) Email support: Plus500 offers email support that is also available 24 hours a day, 7 days a week and responds to customer enquiries promptly.

When we tested the email customer support, we received a response within 30 minutes with the answer to our question.

Once you send an email, you will get an auto-generated response acknowledging your enquiry and assigning a ticket number to it. A customer support representative will then send you a reply with the answers to your enquiry.

To send an email inquiry, you may use the form on their website or send an email directly to the Plus500 email address via [email protected].

Plus500 Customer Support

3) Phone support: Plus500 does not provide a phone support line for enquiries, but they have a WhatsApp account that works in a similar way to the live chat feature which can be used for enquiries. You can find the link to the WhatsApp chat on the FAQ page.

Do we Recommend Plus500 Australia?

Yes, we recommend Plus500 for trading CFDs because they are regulated by the ASIC in Australia and other top-tier regulators worldwide such as FCA, CySEC, and FSCA. This means that they have to follow strict rules, which protect the funds of traders.

The Plus500 proprietary trading platform is easy to get the hang of, which means even new traders can use it and the account opening process is simple and fast. The fees are moderate and there is no commission charged for any trade on the platform, although they charge currency conversion and inactive account fees.

The Plus500 customer service is good, which is an important factor when choosing a broker because fast responses ensure that any issues you encounter will be resolved quickly. Although they do not offer phone support, the company responds quickly to emailed and live chat questions.

Plus500 Australia FAQs

How long does a Plus500 withdrawal take?

All withdrawal requests on Plus500 are processed within 3 business days and may take 3-7 business days for you to receive the funds depending on the payment method you are using.

Is Plus500 legitimate?

Plus500 is legitimate because they are regulated by ASIC in Australia and by other top financial regulators in the UK, Singapore, South Africa, and Cyprus.

The company has physical offices, and online customer support and is also publicly listed on the London stock exchange.

Can I make money on Plus500?

Plus500 is regulated forex broker. They offer CFD trading services to retail and professional traders. 73% of retail investors lose money when trading with Plus500. CFD trading is risky so be cautious.

What are Plus500 fees?

Plus500 is a zero commission broker. Also, they do not charge any fees for deposits or withdrawals. However, there is a US$10 inactivity fee, guaranteed stop-loss premiums, spreads, and rollover charges.

What is the minimum deposit on Plus500?

Plus500 minimum deposit in Australia is AUD 200 for deposits via cards and e-wallets (PayPal/Skrill) while deposits via bank transfers have a minimum deposit of AUD 500.

is plus500 good for beginners?

Plus500 can be a decent starting point for absolute beginners to forex trading for several reasons.

Its user-friendly platform ensures easy navigation and the Plus500 demo account offers you risk-free practice opportunities. Plus500 educational resources are designed to help you understand trading concepts.

Plus500 regulatory compliance and fractional shares offer security and flexibility. They also have a negative balance protection to ensure you do not lose more than your capital if you suffer a loss. However, trading CFDs with leverage carries risks, so caution is advised, particularly for inexperienced traders.

What are the account types for Plus500?

Plus500 offers 3 account types, the Retail account which has minimum deposit requirement of AUD 200 and maximum leverage of 1;30, the Professional Account with maximum leverage of 1:300 and the demo account you can use to practice. Plus500 also offers Islamic account option for muslim traders.


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