Financial News and Advice in Singapore

Plus500 Review: Beginner-friendly CFDs Trading Platform

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If you’re intimidated by other platforms styled for more advanced investors, give Plus500 a try. 

The potential to amplify gains and the ability to trade voluminously with low capital are among the top reasons why some investors like leveraged trading.

Yet, leveraged trades can also accelerate your losses; inexperienced traders may find it difficult to jump in. Or, they may struggle to grasp the basics and build their skills.

Aiming to solve this problem is London-based Plus500, an online brokerage specialising in CFDs for stocks, ETFs, options, crypto, Forex and more. 

Here’s what you’ll learn about Plus500 in this article.  

Overview of Plus500 

Product summary:

  • What you can invest in: CFDs (Shares, ETFs, options, Forex, crypto, indices)
  • Deposit fees: $0
  • Withdrawal fees: $0 
  • Withdrawal limits: None
  • Commission: According to market spreads
  • Inactivity fee: US$10 per month after 3 consecutive months of inactivity 
  • Licence: Authorised by Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC) plus four more.
ProsCons
Highly-rated for user-friendliness, with clear and easy-to-understand trading platformsOffers only basic education and lacklustre news updates
Listed on the London stock exchange, and licensed in several citiesInactivity fee that kicks in after only 3 months
Unlimited use of free demo accountOnly VISA and Mastercard accepted for account funding
Offers bonuses and rebates to help offset trading costs

Why should you trade with Plus500?

#1: Designed for user-friendliness

What sets Plus500 apart is their emphasis on making trading easy to understand even for beginners. This is highly important considering that the brokerage deals in CFDs, which are leveraged products that can rack up profits and losses at an accelerated rate.

But this emphasis on newbie traders comes with a corresponding lack of advanced capabilities, which may turn off more experienced investors.

#2: Competitive spreads, few fees

Like any CFDs brokerage, Plus500 mainly derives its revenues from margin spreads, which are, for the most part, on par with average market rates. 

This marks Plus500 as a competitively priced brokerage, a reputation further bolstered by the relatively few fees you’ll encounter as long as you keep your account active.

#3: Offers bonuses and rebates  

Plus500 traders can take advantage of bonuses and rebates to offset trading costs and amplify their results. Bonuses are subject to qualifying criteria (such as reaching trading thresholds), while rebates are automatically earned as trades are performed. 

#4: Well-trusted brokerage listed on the London Stock Exchange

Plus500 is a well-trusted brokerage, licensed in seven jurisdictions around the world, including Singapore (MAS), UK (FCA) and Australia (ASIC). It is also listed on the London Stock Exchange, and reported record active customers in the first three months of the year.

If your top priority is to trade with a reputable brokerage, you likely won’t go wrong with Plus500, given its considerable track record.

For whom is Plus500 best suited?

Plus500 is made for investors and traders looking to try their hand at leveraged trading, and who appreciate simplified, easy-to-understand platforms and tools, and unlimited opportunity to practise with a free demo account. 

Its beginner-friendliness is further increased by its relative lack of service charges and fees, such that cost of trading is mostly concentrated on actual trades. 

New traders unfamiliar with the landscape will also value the platform’s trustworthy reputation, which reassures them that they can trade with peace of mind.

What charges or fees should you look out for?

When trading with Plus500, you will encounter relatively few fees and charges. This is because Plus500’s revenue model is mostly based on the margin spreads it charges on certain trades. Still, there’s little cause for concern, as Plus500 spreads are competitively priced.

Having said that, you should watch out for currency conversion fees if you’re trading in a different currency than the Singapore Dollar.

If your account remains inactive for three consecutive months, you will incur an inactivity fee of up to US$10 per month on your account.   

How do you open and fund your Plus500 account?

Opening your Plus500 account

  1. Go to plus500.com.sg and click on the Start Trading button in the upper right corner
  2. Choose the account type you want (real money, or demo)
  3. Follow the on-screen prompts to complete your account registration

Note that the demo account is freely available for an unlimited time period. The system will also automatically reinstate your practice funds once it falls below a certain threshold.

Funding your Plus500 account

You may fund your Plus500 account using any of the following methods. 

Funding methodCrediting lead timeFees
Bank transfer 1 to 2 working daysBank charges may apply
PayPal or SkrillSame dayService fees may apply
Credit cards (VISA or Mastercard only)Same dayBank charges may apply

At-a-glance comparison: Plus500 vs other popular brokers


Commission feeMinimum depositMaintenance fee
Plus500Margin spreadsUS$100 (varies according to deposit method)Inactivity fee of up to US$10 per month after three consecutive months without valid trades.
Saxo MarketsMutual funds and SGX stocks: S$0 

US ETFs, CFDs and Stocks: min. S$3

US bonds: min. 0.05% 

Bonds, commodities, futures and options: min. $1.25
S$2,000 for regular savings plan

S$3,000 for SaxoTraderGo platform
N/A
UOB Kay HianSG stocks & stocks CFDs: min. S$10 – S$25 

US stocks & stock CFDs: min. US$20, 
SG corporate bonds: min. S$2.14
S$3,000 for CFDs, $5,000 for FXN/A
Maybank Kim EngSG stocks: min. S$10 – S$25 

US stocks: min. US$20
N/AN/A
OandaDaily rates and charges according to market conditions
N/AInactivity fee of $10 per month applies after 12 months without trading activity
IGS$10 minimum for equity CFDs per open/closeN/AN/A
City Index0.08% or S$10 minimum for Singapore CFDs$150N/A
Tiger BrokersSGX stocks: 0.08%, min. S$2.88 per order (currently waived) 

US stocks: US$0.01, min. US$1.99 per trade
N/AN/A
Interactive Brokers (IBKR)SGX stocks: 0.08% of trade value, min. S$2.50 per order 

US stocks: US$0.005 per share, min. US$1 per order
N/AUp to US$10 per month (less commission paid that month)
TD AmeritradeUS$0 (for US exchange-listed stocks, ETFs and option trades)N/AN/A

Read these next:
Best Brokerage Accounts To Start Your Investment Journey In Singapore
Best CFD Brokers In Singapore For Every Investor Type
Tiger Brokers Review: New Kid On The Block With Low Commissions
moomoo Review: Low Cost Trades And A Free AAPL Share
Interactive Brokers (IBKR) Review: Pros, Cons and Why They’re So Popular


By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.