CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Experts rate Plus500 as a beginner-friendly CFD broker, highlighting its straightforward trading platform, competitive spreads, and access to over 60 forex pairs. However, they advise new traders to start with a demo account and utilise the educational resources available, as the platform lacks advanced features and research tools compared to some competitors.
- Across 146 user reviews on Good Money Guide, averaging 3.7/5, customers frequently commend the user-friendly interface and the variety of trading options available, including forex and CFDs. However, some users express concerns about the platform's limitations, particularly regarding customer service and the handling of trades, with a few reporting negative experiences related to account management and support responsiveness.
Plus500 Canada Forex CFD Trading Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Plus500 Canada Forex CFD Trading across five key areas of our review framework.
- Pricing4.0
- Market Access4.0
- App & Platform4.5
- Customer Service4.5
- Research & Analysis4.0
Pros
- Very easy platform
- Commission-free forex trading
- Strong risk management
Cons
- No MetaTrader support
- Limited research tools
- Fewer advanced features
See full expert review
Our verdict
Plus500 has become one of the world's most recognisable CFD brokers thanks to its clean, basic platform and straightforward approach to leveraged trading. For Canadian traders, Plus500CA provides access to more than 60 forex pairs alongside CFDs on shares, indices, commodities and other markets. While it lacks some of the sophisticated features offered by brokers such as Interactive Brokers or FOREX.com, its simplicity is exactly what many retail traders are looking for.
Is Plus500 good for forex trading in Canada?
Yes, we rate Plus500 as a beginner-friendly CFD broker offering a straightforward trading platform, competitive spreads and access to global forex markets, making it ideal for traders who want a basic trading experience.
Plus500 is a beginner-friendly CFD broker offering a straightforward trading platform, competitive spreads and access to global forex markets, making it ideal for traders who want a basic trading experience.
However, if you are a beginner forex trader in Canada, it is best to start with a demo account and utilize Plus500's Trading Academy, webinars, and insights for learning before using the live platform and risking real money.
Pricing
Plus500 operates a spread-only pricing model with no commissions on forex trades. This makes costs easy to understand, particularly for newer traders. Spreads are generally competitive, although active traders looking for ultra-tight institutional pricing may find commission-based brokers offer better value for high-volume trading. Overnight financing charges apply to positions held beyond the trading day.
Market Access
Canadian clients can trade over 60 forex pairs as well as a broad range of CFDs covering global shares, indices, commodities and other asset classes. While the overall selection is smaller than some multi-asset brokers, it provides more than enough choice for most retail CFD traders.
Platforms & Apps
The proprietary Plus500 platform is one of the easiest trading platforms to learn. Available via web browser and mobile app, it includes integrated charting, price alerts, risk management tools and Guaranteed Stop Loss Orders. However, traders looking for MetaTrader, TradingView integration or algorithmic trading support may find the platform too limited.
Customer Service
Plus500 offers 24/7 customer support and provides a secure trading environment with segregated client funds. Canadian clients benefit from CIRO regulation and CIPF membership, giving additional confidence that the broker meets Canada's regulatory standards.
Research & Analysis
Research is adequate rather than exceptional. Plus500 provides market news, educational articles, trading guides and its Trading Academy to help clients improve their knowledge. However, it lacks the depth of proprietary research, advanced analytics and professional market commentary available from some of its larger competitors.
Customer reviews for Plus500
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 146 reviews
- Excellent42%
- Very good18%
- Basic18%
- Poor9%
- Bad12%
What customers like
- User-friendly platform
- Wide range of trading options
- Helpful customer support
What customers dislike
- Manipulative trading practices
- Unfair trade closures
- High fees on withdrawals
Read customer reviews
Bad
Very Bad Conditions
Thank you for taking the time to share your experience. We’re sorry to hear that you weren’t satisfied, as this isn’t what we aim for. We always try to offer clear conditions and a reliable trading platform, and feedback like yours helps us improve. If you’re open to it, our Customer Support team would be happy to look into your concerns and see how we can help.
plus 500 5 star application
i have been use plus 500 since 2012 easy to use fast and exellent in deopsit and withdraw
Use of their ‘Section 22.6’ of PLUS500 user agreement ! STAY WELL CLEAR
DO NOT TOUCH THIS PLATFORM, WHEN YOU MAKE ANY MONEY, THEY CLOSE OTHER TRADES IN THE RED, TELLING YOU IT WAS YOUR CLOSURE, THEY GET THEIR MONEY BACK THAT WAY. THEIR PLATFORM CLOSED ME OUT FOR AGES AND LEFT TRADES NEEDING ATTENTION. BECAUSE I HAVE MADE MONEY, SHOWED I CAN RECOVER MONEY AFTER BAD TRADES, THEY HAVE JUST ISSUED ME 14 DAYS NOTICE USING THEIR AGREEMENT Sections 22.6 of the User Agreement, this allows PLUS500 to close your account anytime without needing to provide a reason! They are not going to let any negative balances recover. I had already had enough of them. Luckily I have kept cash out of the account, I think they realise I won’t be paying anymore in, hence they cannot take even more money by closing positions in the negative, and decided to close my account hoping they will make more gains from the trades still open. Absolutely disgusting people, I am moving to a highly reputable trader, should have gone there in the first place, instead of dealing with cowboys.
As they have replied, I did reach out to them for help. and for that my account is being closed with no reason given. I accepted all my losses and took full responsibility for that, as the market has been in a strong correction. I queried 3 trades, then, as soon as I am able to make some money back, they prohibit me for trading, I feel punished for asking for help. I have never been rude, always polite and courteous to staff. I am very upset by this awful and unwarranted treatment, I would not place another penny in this account, rather walk away with my losses, and learn from my mistake of trusting a platform such as PLUS500! Just awful, awful treatment, no reason provided.PLUS500 is happy to take thousands, no chance of closing my account when my money was flowing in, until I realised each time I made money, a trade was closed to recover the money by your platform.
In my opinion from my experience you do not want anyone to make any money, as you are basically a common betting site, it isn’t any wonder the moment a person might be in a position to make some gains as the market rises, you freeze trading.
PLUS500 is not set up for anyone to HOLD stock due to the overnight funding fees, which soon add up.
I reiterate they did indeed cite
‘Sections 22.6 of the User Agreement’
They can close your account without giving any reason.
Exactly what they did, they can decide something you are doing does not abide by their ‘agreement’ you won’t know what, your account will stop you trading, so you won’t be able to cover any losses, so you are left helpless with no explanation. I will be reporting this company to the U.S Departments who will not be happy they treat U.K tax payers this way. They need looking into, definitely auditing,
This review will appear everywhere I can place it to warn others, grandparents. Mums and dads who believe they are placing their money in a place where they will be treated fairly. I would not want others to lose money, then be disallowed to trade to make the money back as the market lifts out of a deep correction.
I will be closing my trades before they get a chance to make money as I do not want anything to do with your betting site. Bet red or green, place your bets, but don’t for goodness sake, win!
We’re truly sorry to read how upsetting this experience has been, and we understand how stressful it can feel when trading outcomes and account decisions don’t meet expectations. Plus500 does not intervene in trades based on profitability, and positions are closed only according to platform rules, margin requirements, or user actions. Account reviews are carried out in line with our User Agreement and regulatory obligations. We encourage you to continue the conversation with our Customer Support team so your concerns can be reviewed in detail.
Manipulators
Robbers close your positions with nonsense justifications , always trade opposite to your position would ask to to share their bank cards pictures with security code, licensed robbers
We’re sorry to hear about your frustration. We’d like to clarify that Plus500 never asks for security codes or full card details. In some cases, we may request documents showing only the last four digits and the account holder’s name to verify ownership and keep accounts secure. We encourage you to contact Customer Support so your concerns can be reviewed.
Solid broker
"This thing is pretty slick. Lots of options, easy to use, and they've got real people to help out if you need it. No complaints so far, it's doing what it's supposed to do."
So far so good..
I’m still exploring their service, but as a new user, I find the website very helpful.
You can use leverage
It's good cause you can trade with leverage. Easy to use, easy interface and there's good leverage. I've made some good amounts of money thanks to leverage.
User-friendly platform
Plus500 is a well-regarded trading platform known broad range of trading options, including forex, stocks, cryptocurrencies, indices, and commodities. The platform is especially user-friendly, making it accessible. It offers a solid trading experience for those looking for an easy-to-use, comprehensive platform.
Intuitive platform
The Plus500 platform is intuitively designed, making it ideal for advanced users, with clear charts, real-time data, and essential risk management tools like stop-loss and take-profit options.
Fantastic Platform
Plus500 is a fantastic trading platform for those seeking a reliable, user-friendly experience. It covers a wide range of markets, including forex, stocks, cryptocurrencies, commodities, and indices
Solid
That platform is fantastic - it is easy, it has everything, I make profits, it gives me my profits. Super good.
a reliable platform
I've been trading with Plus500 for some time now, and I’m happy with the experience so far. The platform is straightforward to use, and I appreciate the wide range of markets. The spreads are reasonable, and I’ve had no issues with deposits or withdrawals. Overall, I’m satisfied with the service and feel comfortable using it for my trades.
Plus500 is my go-to trading platform
I appreciate the wide range of instruments available, from stocks and indices to cryptocurrencies and commodities. The real-time charts and risk management tools are top-notch, helping me make informed decisions. Plus, their customer service is responsive and helpful.
I love this trading app
I've had a fantastic experience using this trading platform. The interface is intuitive, making it easy to navigate even for beginners. The tools provided are powerful yet simple, with real-time data and comprehensive charting options that help me make informed decisions quickly. It’s a reliable and efficient platform for anyone looking to trade with confidence. Highly recommended!
I like the charts
The charts are very clear and easy to read, making it simple to understand, They give a straightforward view that helps with understanding and analyzing information.
Good
I'm still in the learning process, but so far, I'm pleased with my experience. The verification process was smooth, and the demo has been very helpful.
A wide variety of instruments
They’ve got most global indexes, stocks, and commodities covered. The interface is easy to use, and their support team is friendly and helpful.
Great Experience with Plus500!
I had a fantastic experience with Plus500. The platform is user-friendly and easy to navigate, which made it simple for me to start trading. I was especially impressed with their customer support – they were quick to respond and super helpful in answering my questions.
The demo account was also a great feature that helped me get familiar with the tools before trading for real. Deposits and withdrawals were smooth which I really appreciated. They offer everything I need for a successful trading experience. Highly recommended!
Smooth and Reliable Experience with Plus500
I’ve had a great time using Plus500. The platform is really reliable, and I like how they have real-time data and a range of trading options. I found the fees to be clear, with no surprises, and deposits and withdrawals have been fast and easy. The risk management tools are a big plus. Overall, it’s been a straightforward and positive experience.
Decent platform
The platform suits my needs and I quite enjoy it. It has a lot of instruments, it's quick, easy, everything is placed conveniently for you to see. I'll continue using it.
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