Plus500

Quick summary

A broker at the top of our list for credibility as they are listed on the AIM (Alternative Investment Market) of the London Stock Exchange. In addition to this, they also sponsor one of the biggest teams in world football, Atletico Madrid. In 2017, they also signed up Super Rugby powerhouse the ACT Brumbies.

If you prioritise safety and credibility over bonuses, this broker is the standout choice for you.

Plus500 provides a CFD (Contract for Difference) service.

Licenses

Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).

Plus500 AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. You do not own or have any rights to the underlying assets. Please consider our Disclosure documents available on our website.

Forex trading, like any other form of investing does not guarantee returns. Your capital is at risk.

Where is Plus500 Regulated?

Plus500 is authorised and regulated in 3 countries: Australia (ASIC), Cyprus (CySec) and the United Kingdon (FCA).

With Australia and the UK both having very strong reputations as stable, first world countries, you can be assured that your dealings with Plus500 are safe and secure.

Licenses

Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).

Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546. You do not own or have any rights to the underlying assets. Please consider the Disclosure documents available on Plus500’s official websites.

Plus500 Bonus Code & Deposit Bonus 2020

Forex trading, like any other form of investing does not guarantee returns. Your capital is at risk.

All Plus500 bonuses and promotions are subject to terms and conditions, including different bonus amounts and limited availability in some countries. Please check the eligibility rules on the website for more information.

All Plus500 bonus codes are first deposit bonuses. This means that you will be awarded a bonus amount for making a deposit for the first time according to the table below. Bonus codes are a handy way to start your trading account with a little bit extra.

The following table lists the current bonuses available. Depending on what country you are in, the same bonuses or no bonuses may be available (in the latter case, due to law). We recommend checking the website by clicking here as it will automatically redirect you to the website for your country. If a bonus is available, you will see it on the homepage.

Minimum DepositBonus AmountRequired TPointsBonus Code
£100£2050FIRST100
£400£100150FIRST500
£750£150200FIRST1000
£4,000£5001000FIRST5000
£7,500£1,2002500FIRST10000
£40,000£6,00010000FIRST50000

It’s important to note that the Plus500 bonuses are subject to terms and conditions. This is normal for any forex broker so that they can protect themselves from people who are not genuine about trading and only want to use the bonuses. The Plus500 bonuses come with rules on how and when you can withdraw the bonus money, as determined by something they call “TPoints”.

TPoints are earned through placing trades. In order to withdraw any bonuses, you must accumulate the required number of TPoints. This prevents people from depositing money then withdrawing everything including the bonus without placing a trade. Bonuses will be adjusted to the currency you choose to open your account in.

Plus500 No Deposit Bonus

In some countries, Plus500 do have a no deposit bonus which can be obtained by verifying your account. This may not be available to all countries so please check by clicking here. If your country is eligible for a no deposit bonus, you should see it as a promotion on the homepage, such as the example below which is from the Plus500 Australia website:

Plus500 No Deposit Bonus

Minimum & Maximum Deposits / Withdrawals

Forex trading, like any other form of investing does not guarantee returns. Your capital is at risk.

Plus500 Minimum Deposit

The minimum deposit at Plus500 is 100 units of the local currency, e.g. $100 USD, $100 AUD, £100 GBP.

Plus500 Maximum Deposit

The maximum deposit will generally be limited by your deposit source. Bank transfers are the best option if you wish to deposit a large sum of money for your trading account.

Your deposit options include: PayPal, Skrill, Credit Card or Bank Transfer.

Plus500 Minimum Withdrawal

The minimum withdrawal depends on your withdrawal method.

The minimum withdrawal amount for PayPal and Skrill is the lesser of $50USD (or equivalent in the Base currency), or your available balance.

The minimum withdrawal amount for bank transfers and credit cards is the lesser of $100USD (or equivalent in the Base currency), or your available balance.

Processing a withdrawal request of less than the minimum withdrawal amount will incur a fee of $10USD (or equivalent in the Base currency).

Plus500 Maximum Withdrawal

At this time, there is nothing in the user agreement that mentions a maximum withdrawal amount. Therefore we assume that there is no upper limit to withdrawing your balance.

Plus500 Bad Reviews

Forex trading, like any other form of investing does not guarantee returns. Your capital is at risk.

It should be accepted that people by nature are more likely to complain than to praise. Therefore, rather than simply look at the weight of bad reviews vs good ones, our job here is to conduct thorough research and form an opinion on how well Plus500 handle customer complaints when they appear to be legitimate.

Is Plus500 a Scam?

Our verdict is NO. The complaints that we have researched appear to be unfounded or very vague in the best cases.

A lot of them appeared to revolve around the $30 bonus which has clear terms and conditions yet the customers hadn’t read them properly.

Other bad reviews spoke of withdrawals not being processed, but nobody uploaded real screenshots or evidence of any kind to support their case.

Forum posts by users with just the 1 post which is the bad review, minimal information, no continuity in the threads etc. can’t be considered sufficient evidence in our opinion to call Plus500 a scam broker.

We looked through the following websites:

How to Trade Bitcoin at Plus500

Forex trading, like any other form of investing does not guarantee returns. Your capital is at risk.

You can trade Bitcoin with Plus500 through their CFD (Contract For Difference) product. Please be aware of what CFD’s are prior to trading. In short, CFD’s are a type of transaction where you are taking up a position on the buy or sell side of an instrument which in this case is Bitcoin. You enter into a contract with Plus 500 for your trade and don’t actually purchase the underlying asset. Therefore, if you “buy” Bitcoin via a Plus 500 CFD, you aren’t actually purchasing actual Bitcoins. You are just buying into an agreement that the Bitcoin price will rise. As the price fluctuates, you are able to see whether you are in profit or loss.

Similary, if you think that the price of Bitcoin is going to go down, you can “sell” Bitcoin via the CFD. In this example of a “sell”, it becomes easier to understand the CFD product because how can you sell Bitcoins that you don’t own in the first place? In other words, if you really had Bitcoins of your own, then “selling” them would result in an instant transaction that takes place at whatever the price is at that time. You would simply receive whatever dollars it is worth, and future movements regardless of whether it goes up or down don’t affect what you were given for your Bitcoin.

In a CFD scenario however, taking up the “sell” side means that as the prices fluctuate, your profit or losses keep changing. Here’s another easy example to understand a CFD. Suppose that the Bitcoin price is currently $10,000 USD. You believe that it’s going to go down and your friend believes it’s going to go up. Neither of you actually own Bitcoin, but want to bet against each other with your opposing views.

You agree with your friend that for every $1 that the Bitcoin moves in price, the person who was wrong will pay $1 to the person who was right. You both agree that the bet will be decided according to the price in 12 hours time. If Bitcoin ends up at $10,500 then you have to pay your friend $500. If the price ends up at $9,500 then your friend has to pay $500 to you.

This is basically a CFD. You just entered into an agreement and somebody made money and somebody lost over a commodity which neither party actually owned.

What is Trust Score?

This is a rating out of 100 which we calculate for each broker based on a combination of factors, all of which you will find below on the scorecard.

Every broker starts with a base score of 100 and we subtract points according to what criteria they match in each category.

Whilst Trust Score provides a good insight into the broker’s reputation, our overall rankings are based off our own thorough reviews plus the user reviews. Therefore, brokers with a high Trust Score aren’t always guaranteed to be ranked at the top.

Plus500 Scorecard – 89 / 100

Extra credit: Plus500 Ltd is listed on the AIM section of the London Stock Exchange.

Major sponsorships: Plus500 sponsors Spanish football giants Atletico Madridas well as Super Rugby franchise the ACT Brumbies in Australia.

Category & CriteriaPoint DeductionScore
Years in operation
Over 10 years00
Between 5-10 years-1-1
Between 1-5 years-20
Less than a year-100
Contact methods
No phone number-10-10
No e-mail address-100
No live chat-20
Social media accounts
No Facebook page-50
No LinkedIn page-50
No Twitter account-30
No YouTube channel-10
No Google+ account-10
No Instagram account-10
App acceptances
Not on Apple App Store-50
Not on Google Play-50
Major partnerships / Public Exposure
No major partnerships-50
Client security
No negative balance protection-200
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Forex brokers who are listed on our website must be regulated with at least one regulatory body.

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