Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here

Plus500 Review

Overall, Plus500 is considered low-risk, with an overall Trust Score of 99% out of 100. Plus500 is licensed by four Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). Plus500 offers one retail trading account as well as Demo and Islamic accounts. Plus500 is currently not regulated by the CMA of Kenya

Updated : July 20, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA

Trading Desk

WebTrader

Total Pairs

70

Crypto

Yes (Availability subject to regulations)

Trading Fees

Low

Account Activation Time

24 Hours

Plus500 Overview

👉 Overall, Plus500 is considered low-risk, with an overall Trust Score of 99 out of 100. Plus500 is licensed by four Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). Plus500 offers one standard retail trading account.

 

👉 Plus500, founded in 2008, is a multi-regulated and market-leading online trading broker that offers a diverse choice of over 2,000 CFD products for trading through simple-to-use proprietary trading platforms.

 

👉 They provide commission-free trading with competitive spreads, a variety of simple account financing alternatives, and a top-rated 24/7 customer support team. Plus500 is one of the major online brokers and has constantly expanded its geographic reach via investment in the growth of its marketing engine.

 

👉 They may extend into new places without establishing a physical presence there due to the web technologies used. In 2018, they opened over 39 million positions, had 304,000 active customers, and traded over 1849 billion dollars.

 

👉 Plus500’s unique trading platform is accessible on desktop, web, and mobile devices. Their easy and intuitive trading platform is one of the highest-rated trading applications in the Apple App Store and Google Play, thanks to its user-friendly UI and powerful features that enable users to trade from the palm of their hands while on the move.

 

👉 Plus500 places a premium on innovation, being among the first to provide new trading instruments to satisfy consumer wants, engage them, and earn their loyalty, as shown by their status as the first online broker to offer Cannabis Stocks.

 

👉 This Plus500 review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.

 

Distribution of Traders

Distribution of Traders

👉 The distribution of traders with Plus500 is as follows:

➡️ Italy – 9.8%

➡️ United Kingdom – 8.4%

➡️ Spain – 8.4%

➡️ Germany – 7.1%

➡️ Poland – 6.4%

 

Popularity among traders who choose Plus500

🥇 Plus500 does not dominate the market share in Kenya, but the broker is still considered one of the Top 50 brokers for Kenyans.

Plus500 At a Glance

🏛 HeadquarteredSydney, Australia
⚖️ Local Market Regulator in KenyaCapital Markets Authority (CMA)
💰 Foreign Direct Investment in Kenya1.3% of the overall GDP
💸 Foreign Exchange Reserves in Kenya8.2 billion USD
🏛 Local office in Nairobi?No
⚖️ Governor of SEC in KenyaNone
✔️ Accepts Kenyan Traders?Yes
🗓 Year Founded2008
📞 Kenyan Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
⚖️ RegulationASIC, FSCA, FCA, CySEC, FSA Seychelles, MAS
1️⃣ Tier-1 Licenses• Australian Securities and Investment Commission (ASIC)
Financial Conduct Authority (FCA)
• Monetary Authority of Singapore (MAS)
• Financial Markets Authority (FMA)
2️⃣ Tier-2 LicensesCyprus Securities and Exchange Commission (CYSEC)
Financial Sector Conduct Authority (FSCA)
3️⃣ Tier-3 Licenses• Financial Services Authority (FSA) of Seychelles
🪪 License Number• Australia – 417727
• New Zealand – FSP 486026
• South Africa – FSP 47546
• United Kingdom – FRN 509909
• Cyprus – 250/14
• Seychelles – SD039
• Singapore – CMS100648-1
⚖️ CMA RegulationNone
❌ Regional RestrictionsThe United States
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts1
✔️ PAMM AccountsNo
💧 Liquidity ProvidersNone, Plus500 is the sole execution venue
💰 Affiliate ProgramYes
💻 Order ExecutionNone
📊 Starting spread0.8 pips
💰 Minimum Commission per TradeNone
💸 Decimal PricingUp to 5 digits after the comma
📞 Margin CallNone
🛑 Stop-OutNone
💰 Minimum Trade Size0.01 lots
💵 Maximum Trade Size100 lots
✔️ Crypto trading offered?Yes
✔️ Offers a KES Account?No
👥 Dedicated Kenyan Account Manager?No
📈 Maximum Leverage1:30
📋 Leverage Restrictions for Kenya?No
💰 Minimum Deposit (KES)11,500 KES or an equivalent to $100
✔️ Kenyan shilling Deposits Allowed?No, only USD, GBP, ZAR, and EUR
👥 Active Kenyan Trader Stats70,000+
🤝 Active Kenyan-based Plus500 customersUnknown
💰 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Debit Card
• Credit Card
• Bank Wire Transfer
• Skrill
• PayPal
⏰ Minimum Withdrawal Time1 business day
🕙 Maximum Estimated Withdrawal TimeUp to 7 working days
✔️ Instant Deposits and Instant Withdrawals?No
🏧 Segregated Accounts with Kenyan Banks?No, Australian banks
💻 Trading PlatformsPlus500 Proprietary Platform
💵 Tradable Assets• Cryptocurrencies
• Indices
• Forex
• Commodities
• Shares
• Options
• ETFs
✔️ Offers USD/KES currency pair?No
📊 USD/KES Average SpreadN/A
✔️ Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on the WebsiteArabic, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Italian, Latvian, Lithuanian, Malay, Maltese, Polish, Portuguese, Romanian, Russian, Slovakian, Slovenian, Spanish, Swedish, Traditional Chinese, Turkish
📞 Customer Support LanguagesMultilingual
✔️ Copy Trading SupportNo
⏰ Customer Service Hours24/7
🧑‍💻 Kenyan-based customer support?No
💰 Bonuses and Promotions for KenyansNo
📚 Education for Kenyan beginnersYes
✔️ Proprietary trading softwareYes
🥇 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✔️ Is Plus500 a safe broker for Kenyans?Yes
🥇 Rating for Plus500 Kenya9/10
🎖 Trust score for Plus500 Kenya99%
👉 Open Account👉 Open Account

Regulation and Safety of Funds

Plus500 Review Regulation And Safety

👉 Plus500 is a market leader in CFD trading across a variety of asset classes. Plus500 has an excellent trust rating and is widely regarded as one of the top online brokers available today. Plus500AU Pty Ltd is an Australian firm established in Sydney that offers a variety of trading options to Australian traders.

 

👉 The Australian Securities and Investments Commission (ASIC) regulates and authorizes Plus500AU Pty Ltd under the AFSL number 417727. Additionally, Plus500AU Pty Ltd is regulated as a Financial Services Provider in New Zealand by the Financial Markets Authority (FMA), under license number 486026.

 

👉 Plus500AU Pty Ltd is also a licensed and regulated FSP in South Africa, with license number 47546 issued by the Financial Sector Conduct Authority (FSCA). Plus500UK Ltd is a company registered and regulated by the respectable Financial Conduct Authority (FRN 509909).

 

👉 Plus500CY Ltd is a Cyprus-incorporated company that is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 250/14. Plus500SEY Ltd is a Seychelles-incorporated company regulated by the Financial Services Authority with license number SD039.

 

👉 Plus500IL Ltd is a company incorporated in Israel with the sole purpose of operating the proprietary trading platform. Finally, Plus500SG Pte Ltd is licensed by the Monetary Authority of Singapore to provide capital markets services under license number CMS100648-1.

 

👉 Plus500 guarantees customer money is protected by storing them in segregated bank accounts with top-tier financial institutions. Plus500 assures that it complies with all applicable regulatory obligations imposed by market authorities and other organizations.

Account Types and Features

👉 Plus500 provides a single account type, the basic account, to all traders. This account is specifically designed to meet the goals and objectives of professional and casual traders alike, regardless of their trading methods, experience, or skill level.

 

Live Trading Accounts

👉 Plus500’s account features include the following:

Account FeatureValue
💰 Minimum Deposit11,500 KES or an equivalent to $100
💵 Account Base CurrencyUSD, GBP, ZAR, or EUR
📊 Range of Markets2,000+ including;
• Forex major pairs
• Forex minor pairs
• Forex exotic pairs
• Indices
• Commodities
• Shares
• ETFs
• Cryptocurrencies
• Options
💻 Trading PlatformPlus500 Platform
📈 Average SpreadsFrom 0.8 pips EUR/USD
💸 Commissions chargedNone, guaranteed commission-free
⬆️ Maximum Leverage Ratio1:30, depending on the trader’s country of residence

 

👉 Traders who open an account with Plus500 should be aware that it does not cater to all types of retail traders. Plus500 UK Ltd and Plus500CY Ltd do not accept retail customers from their respective regions.

 

👉 Clients in these locations have access to just a Professional Account, which is accessible only to qualified professional traders. Such requirements may include having engaged in a large portion of trading activity in the preceding 12 months, possessing a financial portfolio worth more than half a million US dollars, and possessing the appropriate financial sector expertise.

 

Demo Account

Plus500 Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

👉 There is a certain degree of risk involved when trading financial markets and Plus500 offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

Islamic Account

Plus500 Review Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 Plus500 supports Islamic trading and provides Muslim traders with access to a variety of financial marketplaces. Traders may convert their trading accounts to Islamic Accounts after the account has been registered and verified.

Account Registration

Plus500 Review Account Registration Step 1

👉 Traders can open an account with Plus500 in a matter of minutes. Traders can register on Plus500’s official website and complete a brief online application to get access to the web-based trading platform and their newly created trading account.

 

👉 From this page, traders can complete their registration and submit the required papers to prove their identity and address. Lastly, traders can pay the minimum deposit required to start trading.

Plus500 Vs eToro Vs NAGA – Broker Comparison

🥇 Plus500🥈 eToro🥉 NAGA
⚖️ RegulationASIC, FMA, FSCA, FCA, CySEC, FSA, MASCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPCCySEC, BaFin
📱 Trading PlatformPlus500 mobile and web-based trading platformeToro proprietary platform• NAGA Trading Platform
• MetaTrader 4
• MetaTrader 5
💸 Withdrawal FeeNoYesYes
💻 Demo AccountYesYesYes
💵 Min Deposit11,500 KES23,000 KES29,000 KES
📊 Leverage1:30• 1:30 (Retail)
• 1:400 (Professional)
1:1000
📊 Spread0.8 pipsFrom 1 pip0.7 pips
💰 CommissionsNoneNoneNone
🛑 Margin Call/Stop-OutNoneNone indicated
100%/50%
💵 Order ExecutionNoneMarket/InstantMarket
💰 No-Deposit BonusNoNoNo
💵 Cent AccountsNoNoNo
💻 Account TypesStandard Live Account• Retail Account
• Professional Account
• Iron Account
• Bronze Account
• Silver Account
• Gold Account
• Diamond Account
• Crystal Account
⚖️ CMA RegulationNoNoNo
💸 KES DepositsNoNoNo
💰 Kenyan shilling AccountNoNoNo
📞 Customer Service Hours24/724/624/5
🛍 Retail Investor Accounts116
☪️ Islamic AccountYesYesYes
💵 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size100 lotsDepends on the instrument and account balance10,000 lots
⏰ Minimum Withdrawal Time1 business dayInstantInstant
💻 Maximum Estimated Withdrawal TimeUp to 7 working daysUp to 10 Working DaysUp to 5 working days
💵 Instant Deposits and Instant Withdrawals?NoYesYes

Trading Platforms

Plus500 Review Trade Options

👉 Plus500 offers Kenyan traders a comprehensive and powerful proprietary trading platform.

 

👉 Plus500 utilizes an in-house platform that is compatible with Apple iOS, Android, Windows Phone, and Windows 10. Additionally, traders may access the web-based platform, which is compatible with most popular browsers.

 

👉 None of the platforms is restricted in their operation. Individuals who need access to their accounts and the ability to trade while on the road will appreciate the trading applications. Traders may trade over 2,000 financial products across many markets with the Plus500 trading platform, which is simple to use and has competitive spreads and no transaction fees.

 

👉 It is simple to use and has a minimalist appearance and feel, making it suitable for traders of all experience levels. Traders can quickly search for instruments by name and download charts for the instruments they want to see.

 

👉 Positions are entered through the interface’s buy and sell buttons, and prices are updated in real-time. All types of orders are allowed, including market orders, limit orders, stop-loss orders, trailing stop orders, and guaranteed stop orders.

 

👉 Additionally, traders may configure email, SMS, and push alerts to be informed when market events occur, such as price changes and altering sentiment, to avoid missing critical information.

 

👉 The top bar of the platform shows an overview of the trader’s current portfolio state. On the Plus500 platform, charting possibilities abound, with a range of chart types accessible, from candles to bars to lines, in a variety of timeframes and styles.

 

👉 The most widely used technical indicators are provided, and in addition to detecting support and resistance levels and computing Fibonacci retracements, drawing tools are included.

 

👉 Additionally, traders have access to a complete news feed that details events and their impact on markets in real-time through an integrated economic calendar, as well as current, historical, and expected results.

 

👉 News can also be targeted to certain audiences via timing and impact. This calendar is beneficial for fundamental analysis. Two-step authentication guarantees that the site is only accessible to authorized users. For those who want, Google and Facebook login options are also accessible.

 

👉 While most brokers provide MetaTrader, the Plus500 platform is clean and modern, delivering all the functionality that most traders could ever desire in a single, easy-to-use interface.

 

Range of Markets

👉 Kenyan traders can expect the following range of markets from Plus500:

➡️ Cryptocurrencies

➡️ Indices

➡️ Forex

➡️ Commodities

➡️ Shares

➡️ Options

➡️ ETFs

Broker Comparison for Range of Markets 

🥇 Plus500🥈 eToro🥉 NAGA
➡️ ForexYesYesYes
➡️ Precious MetalsYesYesYes
➡️ ETFsYesYesYes
➡️ CFDsYesYesYes
➡️ IndicesYesYesYes
➡️ StocksYesYesYes
➡️ CryptocurrencyYesNoYes
➡️ OptionsYesNoNo
➡️ EnergiesYesYesYes
➡️ BondsNoNoNo

Trading and Non-Trading Fees

Spreads

Spreads

👉 Spreads on Plus500 are decided by the financial instrument traded and the market circumstances on the trading day. Kenyan traders can anticipate the following typical spreads:

➡️ EUR/USD – from 0.8 pips

➡️ USD-TECH100 Futures CFDs – 1.9 pips

➡️ Crude Oil – from 0.04 pips

➡️ Gold – 0.55 pips

➡️ Silver – from 0.022 pips

➡️ Bitcoin – from 116.43 pips

➡️ APPL shares – from 1.2 pips

➡️ Options – Apple Put 180 – from 1.04 pips

➡️ VXX ETFs – from 0.32 pips

 

Commissions

Commissions

👉 Plus500 does not charge any commissions on trades but instead adds the broker’s fee to the spread.

 

Overnight Fees, Rollovers, or Swaps

Plus500 Review Overnight Fees

➡️ EUR/USD – a long swap of -0.0081% and a short swap of -0.0033%

➡️ USD-TECH100 Futures CFDs – a long swap of -0.0146% and a short swap of -0.0128%

➡️ Crude Oil – a long swap of -0.0228% and a short swap of -0.021%

➡️ Gold – a long swap of -0.0228% and a short swap of -0.021%

➡️ Silver – a long swap of -0.0228% and a short swap of -0.021%

➡️ Bitcoin – a long swap of -0.0513% and a short swap of -0.0275%

➡️ APPL shares – a long swap of -0.0375% and a short swap of -0.0357%

➡️ VXX ETFs – a long swap of -0.0375% and a short swap of -0.0357%

 

Deposit and Withdrawal Fees

👉 Plus500 does not charge any deposit or withdrawal fees.

 

Other Fees

👉 Kenyans can expect an inactivity fee of 10 USD per month if the trading account goes dormant after three consecutive months. This fee is applied every month if the account remains dormant. There is also a currency conversion fee charged on trades that are denominated in a currency other than the account base currency.

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA

Trading Desk

WebTrader

Total Pairs

70

Crypto

Yes (Availability subject to regulations)

Trading Fees

Low

Account Activation Time

24 Hours

Deposits and Withdrawals

👉 Plus500 offers the following deposit and withdrawal methods:

➡️ Debit Card

➡️ Credit Card

➡️ Bank Wire Transfer

➡️ Skrill

➡️ PayPal

 

Payment Methods, Deposit Currencies, Minimum Withdrawal, and Processing Time

💵 Payment Method💰 Accepted Currencies💳 Min Withdrawal💸 Processing Time
Debit CardUSD, GBP, ZAR, EUR$1001 working day

Credit CardUSD, GBP, ZAR, EUR$1001 working day
Bank Wire Transfer

USD, GBP, ZAR, EUR$1005 to 7 working days
SkrillUSD, GBP, ZAR, EUR$503 to 7 working days
PayPalUSD, GBP, ZAR, EUR$503 to 7 working days

How to Deposit Funds with Plus500

👉 To deposit funds to an account with Plus500, Kenyan traders can follow these steps:

➡️ Log into your Plus500 account and select “Funds”.

➡️ From here, click on “Deposit” and select a preferred deposit method.

➡️ Complete all the fields and select “Deposit.”

👉 Kenyans should note that each deposit method has a different minimum deposit amount, which can be seen on the Deposit tab of the trading site. However, the minimum to register a trading account is 11,500 KES or the equivalent of $100.

Plus500 Fund Withdrawal Process

👉 To withdraw funds from an account with Plus500, Kenyan traders can follow these steps:

➡️ Log into your Plus500 account and select “Funds”.

➡️ From here, click on “Withdrawals” and select a preferred deposit method.

➡️ Complete all the fields and select “Open a Withdrawal.”

Education and Research

Education and Research

👉 A comprehensive selection of instructional resources, such as trading videos and articles, are available via Plus500 for new traders looking to enhance their trading skills. There are several FAQ sections on Plus500’s website that give extra information on its markets and services.

 

👉 Plus500’s “How-To” training films may assist traders to build a strong basis for their investing selections.

 

👉 The news stream and market data may help traders navigate more complicated instruments and marketplaces. This area contains a variety of informative articles and market news that might be helpful to traders doing fundamental research.

 

👉 Plus500 offers Kenyan traders the following Research and Trading Tools:

➡️ Any fundamental study would be incomplete without a Dow Jones economic calendar.

➡️ Setting price levels, using guaranteed stop orders, and trailing stops are all examples of risk management methods.

➡️ Trades can obtain real-time alerts by email, SMS, or push notifications, helping them to stay informed.

➡️ When a financial instrument hits a given price, price alerts may be set to notify traders so they can take advantage of price movements.

➡️ Change percentage, either daily or hourly, provides an immediate warning when an instrument’s price changes. A trader’s preferences and trading strategy will determine whether this is done daily or hourly.

➡️ For traders who choose this feature, Traders Sentiment will send them an automated notification when the proportion of buyers and sellers in an instrument hits a specified threshold. Traders that use a contrarian trading approach often employ this sentiment analysis.

Bonuses and Promotions

👉 Plus500 offers Kenyan traders the following bonuses and promotions:

➡️ A First-Deposit Bonus from $250 up to $65,000.

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA

Trading Desk

WebTrader

Total Pairs

70

Crypto

Yes (Availability subject to regulations)

Trading Fees

Low

Account Activation Time

24 Hours

How to open an Affiliate Account with Plus500

Affiliate Account

👉 Kenyans can navigate to the Plus500 website and select “Affiliates” from the “Company” tab on the homepage. Kenyans can easily register to become an affiliate by selecting “Sign Up.” Prospective affiliates can sign up either as an individual or as a company and complete a short application form that can be submitted to Plus 500.

 

Plus500 Affiliate Program Features

👉 High-conversion technologies and unique marketing solutions enable Plus500 affiliates to optimize their websites’ potential while simultaneously promoting the company. A dedicated affiliate manager is assigned to each partner to support them in their day-to-day activities.

Plus500 Corporate Social Responsibility

Plus500 Corporate Social Responsibility

👉 Fintech pioneer Plus500 also takes its social and environmental responsibility very seriously. Ensuring that all the company’s environmental practices are on par with industry standards, environmental, social, and governance committees were recently formed (ESG).

 

👉 Corporate governance has grown more important considering corporations’ growing influence on society. For Plus500, creating an equitable, long-term, and inclusive economy means connecting business operations with the interests of the communities in which they operate.

 

👉 By taking a variety of proactive measures in 2020, the firm fulfilled its commitment to give back to the communities where it operates.

 

👉 Workplace regulations and practices across the globe have changed dramatically since the Covid-19 pandemic. Considering the pandemic and the ongoing lockdowns, Plus500, which operates via several subsidiaries throughout the globe, provided its global workforce with the necessary support they needed.

 

👉 During the height of the epidemic, the firm also donated money to local charities and hospitals to help buy medical supplies and equipment for the institutions that needed it most. In addition, the corporation donated to several economically disadvantaged towns in many areas.

 

👉 Many low-income families were unable to pay for their children’s online education because they had no source of income. Subsequently, Plus500 donated computers and other IT equipment to help these students continue their education from a distance.

 

👉 Plus500 continues to be a major participant in the Australian regulated market. ” Australia’s biodiversity, ecology, and public health have all suffered long-term consequences because of the devastating bushfires that struck the nation in mid-January of 2020.

 

👉 To aid in the recovery of the local communities affected by this catastrophe, Plus500 donated funds to a variety of relief organizations.

 

👉 Throughout the last year, Plus500 has made several changes to its top organizational structure, to expand its expertise and improve diversity. According to the company’s commitment to fostering a more diverse workforce, these key changes will allow it to tailor its services to each region’s unique culture, needs, and preferences.

 

👉 Furthermore, it demonstrates how committed the Group is in building a strong functional infrastructure by bringing in top-tier talent and expertise from all over the world. New financial and trading products will be added to the company’s services over the next several years, aside from CFDs, as part of its strategic ambitions.

 

👉 The firm also wants to keep gaining new customers, providing them with greater trading performance, and extending its trading options via organic investments in R&D and marketing technology.

Verdict on Plus500

👉 With a broad selection of trading instruments available on several different marketplaces, Plus500 is a well-respected and well-established online trading broker. Traders may utilize their platform on a PC, online browser, and mobile device.

 

👉 The practise account is a great way to get a feel for what they have to offer, and customer service is always available to answer any general or technical inquiries. Competitive spreads and no commission costs are available. There is a single trading account for all funding types.

 

👉 There is little doubt that Plus500 is aimed at traders who want a simple way to execute trades, rather than those who require more complex tools. WebTrader, the broker’s proprietary trading platform, is easy to use, and the spreads are competitive.

 

👉 The lack of an MT4 platform and the lack of auto-trading make this broker unsuitable for technical traders. As a result of Plus500’s lack of training tools and the inherent complexity and danger of CFD trading, it is not the best choice for novice traders.

 

👉 For experienced investors who prefer to initiate and exit transactions manually, the trade-off may be worth the reduced costs.

Plus500 Pros and Cons

✔️ Pros❌ Cons
Plus500 has subsidiaries in several regions, each well-regulated by prominent market regulatorsThere are inactivity and currency conversion fees
Commission-free trading is offeredThe guaranteed stops are available at an additional charge
There are no deposit or withdrawal fees chargedThere are restrictions on retail traders from some regions
There is a range of markets offered, with over 2,000 financial instrumentsRestrictions on the maximum leverage
There is prompt and helpful 24/7 customer support availableKenyans are not provided with a KES-denominated account and KES deposits/withdrawals are not supported
There are trading guides offered to beginnersThere are limitations to the trading strategies that Kenyans can use
Advanced Kenyan traders can expect innovative products, market news, and insights
Client fund security can be guaranteed

FAQ

Can Plus500 be trusted?

Yes, Plus500 is a low-risk and high-trust broker with a trust score of 99 out of 100, one of the highest scores that a forex broker can achieve. Plus500 is licensed by four Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust).

In addition, Plus500 has a Trustpilot score of 4.1 out of 5 from 10,700+ reviews as a verified company.

 

Can I make Money with Plus500?

Through CFDs, Plus500 enables you to trade stocks, cryptocurrencies, forex, and commodities. To profit on Plus500, you must have a thorough grasp of the financial markets.

 

Is it easy to withdraw money from Plus500?

Yes, Plus500 offers convenient and reliable withdrawal methods.

 

Is Plus500 commission-free?

Yes, Plus500 does not charge any deposit, withdrawal, or trading commissions or fees.

 

What is the overall rating for Plus500?

We give Plus500 an overall rating of 9/10. This overall score is attributable to Plus500’s reliable trading platform, regulatory status, competitive and transparent fees, commission-free trading, and wide range of markets.

 

What is Plus500’s leverage?

Depending on your country of residence, you could be restricted to leverage of up to 1:30.

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

9.6/10 - (19 votes)