Plus500 US Review 2024

Last updated Mar 1, 2024
Логотип Plus500 US
3.6/5
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

Are you a Futures trader looking for an innovative and reliable broker? Take a look at Plus500!

In this comprehensive platform review, we will cover its features, benefits, offered futures, available account types, and much more - you will get all the necessary information to decide whether opening an account with Plus500 US is the right decision.

Plus500 Broker Overview

Foundation Year2007
Official Websitehttps://us.plus500.com
Regulated in CountriesUnited Kingdom, United StatesMore Details
Minimum Deposit
  • 100 USD
Spreadfrom 0 points
Max Leverage1:500
Trading Assets
  • Futures
  • Options
Trading Platforms
  • WebTrader
Email Support
  • support@plus500.com
Hotline Phones
Social Media

Established in 2008, brokerage firm Plus500 has established itself as a prominent player in the financial trading sector. In the United States, Plus500 stands out for its emphasis on futures contracts, which enable traders to speculate on the price movements of financial assets without actual ownership. While offering potential profits, it's crucial to recognize the significant risks involved, including the possibility of capital losses.

Plus500 U.S. Companies offers a comprehensive range of opportunities for traders, from futures trading to options on futures. Leveraging the combined expertise of CTS and Cunningham, which spans over 40 years, Plus500 provides advanced and innovative tools designed specifically for the U.S. market.

The services of Plus500 are not limited to individual trading. They offer world-class solutions for IBS and professionals, featuring a reliable and customizable T4 system. Traders can access every major Futures and options exchange globally, including CME, CBOT, EUREX, ICE, MGEX, COMEX, and NYMEX.

Plus500’s impact is global, with over 25 million customers worldwide, engaging in trades valued at over $800 billion across 2800 instruments. The firm has registered over 25 million customers, opened more than 300 million positions, and extended its services across more than 50 countries.

Plus500 Review Summary

In evaluating Plus500, we adhered to strict and thoroughly developed criteria outlined in our broker evaluation methodology. Every aspect of the broker's operations, from the trading instruments and platforms offered to the quality of educational materials and the efficiency of customer support, was meticulously analyzed and rated by our team. We strongly recommend that you study our methodology to understand better how we form our evaluations. Continue reading to learn more about all the advantages and disadvantages of working with Plus500.

Reliability and Regulation

Rating:5/5
Legal EntityRegulatorReview
Plus500 review
Current review

Plus500 operates under strict regulatory oversight in multiple jurisdictions worldwide. In the United States, futures trading is offered through Cunningham Commodities, LLC, doing business as Plus500. Cunningham Commodities is a Futures Commission Merchant registered with the US Commodity Futures Trading Commission and a member of the National Futures Association (NFA ID number 0001398). As a wholly-owned subsidiary of Plus500US Inc., Cunningham Commodities adheres to rigorous financial standards and undergoes regular reporting and compliance checks to ensure the utmost integrity in trading practices. Notably, trading privileges are subject to review and approval, and not all applicants may qualify. This aligns with the firm's commitment to comply with Federal law, including verifying an applicant’s identity during the account application process.

Plus500UK Ltd, part of the Plus500 group, is authorized and regulated by the Financial Conduct Authority in the UK (FRN 509909). Each regulatory body imposes strict financial standards, mandating regular reporting and transparency from Plus500, thereby ensuring high protection for traders and stakeholders involved.

Account Opening

Rating:5/5

Plus500 opening an account is quite easy thanks to a fast registration process and a relatively low minimum deposit.

Registration

To create an account with Plus500, complete a form on the company's official website. Initially, you must enter your email address and create a password.

Creating a Plus500 Futures account
Creating a Plus500 Futures account

Verification

For account verification, you must enter your details, including your full name, residential address, phone number, and social security number. You will need to confirm these details with scans of your documents.

Minimum Deposit

To open an account with Plus500, a minimum deposit of 100 US dollars is required. This ensures you are ready to start trading and have sufficient funds for initial transactions.

Account Types

Rating:2/5

The lack of account diversity and market execution of orders at Plus500 significantly limits flexibility and opportunities for traders of various categories.

Account variability allows a broker to meet the needs of different categories of traders, including professionals, beginners, high-volume traders, and algo traders.

Trading Account

Plus500 offers only one type of trading account to its customers.

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Account CurrencyUSD
Minimum Deposit100 $
Trading PlatformsWebTrader
Spreadfixed0 pips
Commission per Tradeper 1 lot0.89 $
Trading AssetsFuturesOptions
Opened Positions
Leverage1:2-1:500
Margin Call / Stop Out100% / 100%
Order ExecutionDMA
Demo Account
Islamic Account
Register

Demo Account

The broker can work on an unlimited virtual account to practice new strategies and try unfamiliar instruments, test indicators, and advisors. This option is excellent for beginners who want to gain experience. Professional traders can also benefit from the demo version to refine new strategies.

Commissions

Rating:3.5/5

Plus500 Futures offers highly competitive rates for Standard and E-Mini contracts, among the lowest in the market. However, micro contracts' commissions are somewhat higher than some competitors. Additionally, Plus500 Futures stands out for not charging fees such as withdrawal wire transfers, data fees, platform fees, deposit and withdrawal fees, inactivity fees, or routing fees. These advantages significantly improve the platform's affordability, making it appealing to a wide range of traders, from regular to high-volume users.

Trading Commissions

Plus500 Futures imposes a fee of $0.89 per side for Standard and E-Mini contracts and $0.49 per side for Micro contracts. While the commission for Standard & E-Mini contracts is notably low compared to other brokers, the Micro contract commission is slightly higher than some of its competitors.

Comparing Plus500 Futures' commissions with other popular futures brokers:

BrokerStandard Contract CommissionMicro Contract CommissionAdditional Notes
Plus500 Futures$0.89 per side$0.49 per sideNo additional fees for platform, data, etc.
Interactive Brokers$0.85 per contract$0.25 per contract
NinjaTrader$1.29 per side$0.35 per sideVariable rates based on payment plan
Tradovate$1.29 per side$0.35 per sideVariable rates based on payment plan
TradeStation$1.50 per contract, per side$0.50 per contract, per sideCommission plus contract fee

This table shows that Plus500 Futures offers one of the lowest commission rates for Standard and E-Mini contracts, while their Micro contract commissions are not the lowest but are still competitive.

Liquidation Fee per Contract

Plus500 Futures also charges a liquidation fee of $10 per contract. This fee is applied when a position is liquidated, such as when a stop order is triggered or if the account fails to maintain the required margin. It's an important consideration for traders, especially those who use high leverage or trade in volatile markets.

Deposit and Withdrawal

Rating:4/5

Plus500 offers many payment systems, making depositing and withdrawing funds convenient for most clients. The absence of fees for deposits and withdrawals is a significant advantage. However, the processing time for withdrawal requests can take up to three business days, which some clients may find somewhat lengthy.

Deposit Methods

The following methods are used for depositing funds:

Payment SystemCurrenciesDeposit FeeOperation Limit
PayPalPayPal
USDEURGBP
0%
from 100 USD
SkrillSkrill
USDEURGBP
0%
from 100 USD
Bank TransferBank Transfer
USDEURGBP
0%
from 500 USD
VisaVisa
USDEURGBP
0%
from 100 USD
MastercardMastercard
USDEURGBP
0%
from 100 USD

Plus500 covers most of the fees for payment processing. In some cases, a fee may be charged by the payment system.

Withdrawal Methods

Similar methods are available for withdrawing earned funds.

Payment SystemCurrenciesWithdrawal FeeOperation Limit
PayPalPayPal
USDEURGBP
0%
from 50 USD
SkrillSkrill
USDEURGBP
0%
from 50 USD
Bank TransferBank Transfer
USDEURGBP
0%
from 100 USD
VisaVisa
USDEURJPY
0%
from 100 USD
MastercardMastercard
USDEURGBP
0%
from 100 USD

Withdrawals must be made to the same payment system from which the initial deposit was made.

Withdrawal request processing times usually range from 1-3 business days. The timing of the payment receipt depends on the payment method and the processing time of the payment system executing the transfer.

Markets and Products

Rating:2.5/5

Plus500 Futures offers access to 51 futures products across 7 major exchanges, which, while covering essential and major futures markets, is relatively limited compared to its competitors.

What markets are available?

Plus500's Futures trading platform grants traders access to an extensive array of some of the most prominent Futures exchanges globally. This access ensures traders have a broad range of options for their investment strategies. The available exchanges include:

  1. EUREX: One of Europe's most extensive futures and options markets, known for various products, including European stocks and indices.

  2. CME (Chicago Mercantile Exchange): Renowned for various futures contracts, including major asset classes like commodities, currencies, and indexes.

  3. COMEX: Part of the CME Group, it specializes in metals such as gold, silver, and copper futures.

  4. NYMEX (New York Mercantile Exchange): Another integral part of the CME Group, NYMEX is famous for energy and metals futures contracts.

  5. CBOT (Chicago Board of Trade): A leading exchange for grain and treasury futures.

  6. MGEX (Minneapolis Grain Exchange): Known for focusing on grain futures, particularly wheat.

  7. ICE (Intercontinental Exchange): Offers a broad range of contracts, including energy, environmental, and soft commodities.

Collectively, these exchanges provide Plus500 Futures traders with access to some of the most liquid and diverse futures markets in the world, covering a wide array of commodities, currencies, indices, and other financial instruments.

What products are available?

The company provides a vast number of futures for trading, among which are:

  • 13 futures on Forex;
  • 10 futures on equity indices;
  • 7 futures on metals;
  • 9 futures on energies;
  • 8 futures on agricultures;
  • 2 futures on interest rates;
  • 2 futures on crypto.

Comparison with other brokers

Evaluating Plus500 Futures in terms of the range of markets and products it offers compared to other brokers, it's clear that Plus500 Futures has a more selective offering. While it provides access to major exchanges, the number of futures contracts is less extensive. Here's a comparative table to illustrate this point:

BrokerNumber of Futures ProductsNumber of Exchanges
Plus500 Futures517
Tradovate1249
TradeStation600+7
Interactive Brokers1000+32

This comparison shows that Plus500 Futures offers a relatively modest selection of futures products and exchanges compared to its competitors. While it covers key markets, traders looking for a wider range of futures contracts and access to more global exchanges may find other brokers like Interactive Brokers or TradeStation more aligned with their needs. However, Plus500 Futures' selection can be sufficient for traders who focus on the most prominent and liquid futures markets.

Trading Platforms

Rating:3.5/5

Plus500 offers a unique trading platform designed with client convenience in mind. It provides access to valuable features such as trading asset specifications, client trade analysis, economic calendar, and various types of orders.

Despite the lack of choice between different platforms, trendy ones like MT4 or MT5, Plus500's trading platform still offers all the necessary functionality and can be convenient for most traders.

Plus500 Platform

Unlike most of its peers, Plus500 provides its clients only one trading terminal, individually developed by the company's specialists. The Trading Program is available in several versions:

  • web terminal for PCs and laptops;
  • mobile application for Android and iOS.
Plus500 Futures Platform
Plus500 Futures Platform

The following orders are available for trading on Plus500:

  • Market buy or sell;
  • Take-profit;
  • Stop-loss;
  • Trailing stop;
  • Buy- and Sell-limit.

Additionally, for the trader's convenience, the following are available in the terminal tab:

  • trading asset specifications;
  • trader's sentiments (Trader's Sentiments);
  • economic calendar;
  • +Insights - Plus500 client trade analysis.
Futures Plus500 Platform
Futures Plus500 Platform

Analytics

Rating:2/5

The lack of analytical support at Plus500 Futures presents a significant drawback for traders who rely on these resources for informed decision-making. This absence means traders must seek external sources for market analysis, expert opinions, news updates, and trading signals, which can be inconvenient and time-consuming. While Plus500 Futures may suffice for experienced traders who already have a set strategy or access to these resources elsewhere, beginners or those who depend heavily on broker-provided analytics might find this limitation a critical factor in their choice of broker.

Education

Rating:3/5

Plus500 provides high-quality video tutorials and articles that explain various aspects of trading in detail and an accessible manner. This is an excellent resource for beginners and experienced traders to improve their trading skills and strategies. However, the lack of other educational materials, such as webinars and podcasts, limits access to diverse education, which may be necessary for a comprehensive understanding and study of the market.

Video Tutorials

One of the critical elements of Plus500's educational materials is the video tutorials. They cover various topics, from the basics of futures trading to more complex aspects, such as understanding the risk/reward ratio and using various trading charts.

All lessons are easily understandable and equipped with step-by-step instructions, making them an ideal learning tool regardless of the trader's experience level.

Plus500 Futures Video Tutorials
Plus500 Futures Video Tutorials

Articles

In addition to its high-quality video tutorials, Plus500 offers a comprehensive collection of written articles, enriching traders' understanding of the Futures market. These articles are designed to build a solid foundation of knowledge essential for new and experienced traders in the dynamic world of Futures trading.

Plus500 Futures Articles
Plus500 Futures Articles

Customer Support

Rating:3.5/5

Customer Support at Plus500 offers a significant advantage by being available 24/7. However, it's important to note the limited communication channels, as no direct phone line or email support is provided on the website.

How to Contact Support?

If a client's query is not resolved in the FAQ section, they can contact the company’s support team. The primary method is via a specific feedback form available in the "Contact" section of the website. Additionally, for registered users, there is the convenience of a Live Chat feature within the platform, offering more immediate assistance.

Customer Support Working Hours

The support team operates around the clock, providing 24/7 assistance for clients across different time zones. This continuous availability ensures that help is always available, regardless of the time or day.

Plus500 Pros and Cons

Advantages

  1. Regulated broker: Plus500 is regulated in several jurisdictions, ensuring adherence to strict financial standards.
  2. Easy account opening: Fast registration process with a low minimum deposit requirement.
  3. Competitive trading commissions: Especially for Standard and E-Mini contracts.
  4. User-friendly platform: Efficient and easy to navigate, enhancing the trading experience.
  5. 24/7 customer support: Including a Live Chat feature for registered users.

Disadvantages

  1. Lack of account diversity: Limits flexibility and opportunities for different types of traders.
  2. Absence of analytical tools: Significant limitation for traders who rely on in-depth analysis.
  3. Lack of interactive educational formats: No webinars or podcasts for dynamic learning.
  4. No direct phone or email support: Limits direct and instant communication options.

Conclusion

Overall, Plus500 can be considered an excellent choice for beginner to intermediate traders focusing on futures trading, especially those who value simplicity and educational support. Plus500 deserves a solid rating for its balanced offering, marking it as a reputable and accessible broker yet leaving room for enhancement in areas crucial for advanced trading needs.

Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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