Is PLUS500 one of the best Australian CFD Brokers? We conducted an in-depth review in November 2018 to find out the answer and bring it to you!


Another complete and unbiased Review from Engine Forex

Established in 2008, Plus500 is an internationally renowned online broker. Its main operations are based in Israel, and it has additional operations in Bulgaria. The company’s primary focus is on offering retail clients the ability to trade CFDs in global equities, indices, commodities, options, ETFs and FX. Their customer base exceeded 156,000 active users in 2016.

The group enables retail customers to trade CFDs in more than 50 countries with regulated entities in the UK, Cyprus and Australia.

Plus500AU Pty Ltd, part of the original Plus500 company, is an Australian-based company that operates its main offices in the heart of Sydney. The company is regulated and authorised by the Australian Securities and Investment Commission (ASIC). Plus500AU Pty Ltd currently offers a portfolio of over 2000 trading instruments.

In 2015, the Plus500 group signed a sponsorship deal with the Spanish champions Atlético de Madrid football club.


Plus500

Our Rating

The overall rating is based on review by our experts

7.5 3.8 1
  • Reliability 8 / 10
  • Spread 9 / 10
  • Customer Service 6 / 10
  • Offers 7 / 10
  • Speed of Execution 7 / 10
  • Uptime 8 / 10

Plus500 - Overview

Trading Conditions

  • Max Leverage
    300:1
  • Platform
    Plus500_plat
  • Min Deposit
    $100
  • Spread
    From 0.01 Pips
  • Cuts out Dealing Desk
    No

Methods of deposit and offers

  • Deposit / Withdraw
    VISA , MasterCard PayPal Skrill Bank Transfer
  • Welcome offer
    AUD 30 free & up to $10,000 in bonus
  • Rebates Engine Forex
    n/a

Extras

  • Crypto
    Bitcoin Ethereum Litecoin Ripple Bitcoin-cash IOTA
  • Headquarter
    Tel Aviv with Sydney subsidiary

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT PLUS500

In Summary

  • CySEC & FCA licenses
  • High-level web security

Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorised to issue these products to Australian residents.  

Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).

Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorised Financial Services Provider in South Africa, FSP 47546. 

All client funds are never used for hedging, are held safe and securely in segregated trust accounts, and are administered in accordance with the provisions of the Corporations Act.

Plus500AU offers a variety of risk management tools to clients including managing individual account leverage, setting profit/loss limits, price alerts, guaranteed stop and trailing stop.

Headquartered in Israel, with regulated entities in the UK, Cyprus and Australia, Plus500AU Pty Ltd is regulated and authorised by the Australian Securities and Investment Commission (ASIC).

Spreads Comparison

PLUS500
90
PEPPERSTONE
100
THINK MARKETS
80
OANDA
60
CMC MARKETS
60
IC MARKETS
100

CHARGES AND MARGINS AT PLUS500

In Summary

  • Spread mark-up
  • Up to 300:1 leverage

As is the case with all brokers, clients pay a spread on every non-equity CFD at Plus500.

There may also be additional fees charged such as 'Premiums' (overnight fees) or inactivity fees. For guaranteed stop orders and rollover adjustments further charges may also be applied.

Plus500 is mainly compensated for its services through the market spread, and clients do not pay any additional fees/commissions. 

Both the initial and maintenance margin level requirements are specific to each financial instrument and can be viewed on the Plus500 website or within their trading platform.

TECHNOLOGY

In Summary

  • Own proprietary platform
  • Range of risk-management tools

Plus500 does not allow its clients to use popular third-party trading platforms such as MetaTrader 4 or cTrader. However, they have developed their very own, unique trading platform called WebTrader. This trading platform can be accessed via Windows Trader, Web-Trader, iPhone/iPad/Apple Watch, Android app and Windows Phone app. It is also available as a no-download online version.

As a result of system enhancements, all Plus500 trading accounts are gradually being upgraded to Gold accounts, which offer different trade sizes of different units and a 5% discount on all premium charges.

Plus500 does not allow its clients to use popular third-party trading platforms such as MetaTrader 4 or cTrader. However, they have developed their very own, unique trading platform called WebTrader. This trading platform can be accessed via Windows Trader, Web-Trader, iPhone/iPad/Apple Watch, Android app and Windows Phone app. It is also available as a no-download online version.

Execution of Speed Comparison

PLUS500
70
PEPPERSTONE
100
THINK MARKETS
90
OANDA
80
CMC MARKETS
90
IC MARKETS
100

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF PLUS500's CUSTOMER SERVICE AND CLIENTS

In Summary

  • 24/7 customer support
  • 1 platform and account option
  • 2,000+ financial instruments

Plus500’s target audience is exclusively retail customers, and the platform is not available to institutional traders. The company enables retail customers to trade CFDs in more than 50 countries and 32 languages. Plus500 offers its customers sophisticated risk management tools to manage their trading positions and these ensure that customers cannot lose more than they deposit.

Plus500 has clients all over the globe, with the strongest market presence in Europe, and offers great customer support 24/7 through live chat, an extensive online help and FAQ section, and email support.

Clients can only choose between opening a Real or Demo account. Depending on the client’s needs, this could be a benefit or a downside. Plus500 only differentiates between Gold and Standard accounts, the details of which can be discussed directly with their customer support team.

Plus500 does also not allow for the usage of MetaTrader 4, cTrader or other popular third-party platforms. However, it has developed a very good, easy-to-use and navigate unique in-house platform.

Apart from a great selection of currency pairs and commodities, Plus500 also offers a selection of indices from around the globe to choose from, including the Australian S&P 200 Index, UK FTSE 100 Index, Germany Dax 30 or Japan Nikkei 225.

In total, over 2100 different underlying global financial instruments—including more than 50+ currencies, 21 indices, 16 commodities, and a large selection of options, ETFs and shares from over 20 different markets—can be traded with a Plus500 account.

FOREX AND OTHER TRADING OPTIONS AT PLUS500

In Summary

  • 59 currency pairs
  • 7 cryptocurrency CFDs
  • Large selection of options, ETFs & shares
  • 23 indices CFDs

Plus500 offers more than 2100 tradable financial instruments including more than 50 currency pairs, 23 indices, 17 commodities, and a large selection of options, ETFs, and shares from over 20 different markets.

Traders can choose to trade on the above-mentioned options including some of the world’s top markets such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index, Germany 30 and Hong Kong 50.

Clients interested in binary option trading will also find a large variety to choose from. As examples, country/index-specific options include Google Alphabet, Facebook, Apple or Deutsche Bank.

Plus500 offers leverage of up to 300:1 and different funding currencies. Spreads start from a competitive 0.01 Pips. Clients can begin trading with a minimum deposit of $100.

SPECIAL FEATURES OF PLUS500

In Summary

  • Easy-to-use platform
  • Large selection of tradable instruments, including 7 cryptocurrency CFDs

Unlike other online brokers, Plus500 only offers traders access to its unique proprietary trading software. However, this platform is easy to use and ideal for any type of trader.

Plus500AU offers a good range of risk management tools such as managing individual account leverage, setting profit/loss limits, price alerts, guaranteed stop and trailing stop.

Plus500 offers a large selection of tradable financial instruments and their own, unique proprietary trading platform.

Max Leverage Comparison

PLUS500
300:1
PEPPERSTONE
500:1
THINK MARKETS
400:1
OANDA
100:1
CMC MARKETS
500:1
IC MARKETS
500:1

IN CONCLUSION

Plus500 has grown to a strong force in the online CFD space. With their own proprietary platform that's compatible to many devices they offer an easy-to-use alternative to the commonly used MT4 or cTrader platforms. Overall, Plus500 is a good choice with their large selection of tradable instruments, competitive spreads and very solid trading environment.