Expert Review
Product Name: Plus500 US Futures Trading
Product Description: In 2023, Plus500 launched its online trading platform in the US. Through the platform, those in the US can trade futures on a range of instruments including equity indexes, crypto-assets, currencies (forex), and commodities. Plus500 is headquartered in Israel, however, it’s listed in the UK on the London Stock Exchange. In the US, its platform is operated by Plus500US Ltd, which is licensed to offer the trading of futures via Plus500US Financial Services LLC, a Futures Commission Merchant that is registered with the US Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Is Plus500 a good futures broker?
Yes, Plus500 is an online trading company that operates in over 50 countries worldwide and in the US, its platform allows you to trade futures on a range of assets. Plus500 also offers a range of features designed to help traders capitalize on opportunities in the markets including charting tools and real-time news feeds. There is a demo account for those looking to learn how to trade futures before committing real money, but one downside is that there are some platforms that offer more futures markets than Plus500.
Pros
- You can trade a range of instruments and assets including equity indexes, crypto, and commodities.
- You can start trading with a small amount of capital.
- There is a demo account for beginners.
Cons
- With Plus500 US, you can only trade futures. You can’t buy stocks or funds directly.
- There is no telephone customer service available.
- Plus500 doesn’t offer as many futures as some other platforms do.
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Pricing
(4.5)
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Market Access
(4.5)
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App & Platform
(5)
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Customer Service
(4.5)
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Research & Analysis
(4)
Overall
4.5What futures markets can you trade with Plus500?
With Plus500, you can trade futures on:
- Equity indexes (e.g. E-mini S&P 500, E-mini Dow Jones)
- Crypto (e.g. Micro Bitcoin, Micro Ether)
- Forex (e.g. British Pound, Australian Dollar)
- Metals (e.g. Gold, Copper)
- Energy (e.g. Crude Oil, Natural Gas)
- Interest rates (e.g. 10-Y T-note, 30 Day FedFund)
- Agriculture (e.g. Wheat, Soybean)
What features does the Plus500 futures trading platform offer?
Key features available include:
- Charting tools – The platform offers charts with a wide range of indicators and drawing tools to help traders identify and capitalize on patterns and trends (there are 13 charting tools and over 100 indicators).
- Real-time alerts – With Plus500 you can set up real-time email, SMS, and push notifications for trade alerts (e.g. price alerts or % change alerts).
- Watchlists – Customers can set up multiple watchlists to keep track of security prices.
- A demo account – With Plus500’s demo account, novice traders can learn to trade futures without risking real money.
- Futures Trading Academy – Plus500’s Futures Trading Academy offers a range of educational videos and articles designed to help traders learn about futures trading.
What are Plus500’s futures fees and charges?
Plus500 Futures charges a fee of $0.89 per standard contract and $0.49 per micro contract (per side). There’s also an auto-liquidation fee of $10 per contract.
On top of these fees, there’s a NFA Regulatory Fee of $0.02 per side and per contract as well as exchange execution and clearing fees for non-members.
What is Plus500’s customer service like?
Plus500’s customer service options are limited to online chat and email support. So, you can’t contact the company by phone. This is not a major issue though. We contacted the company via online chat and were very impressed with the service and support offered. It’s worth noting here that online chat and email support is available 24/7.
Does Plus500 US offer a bonus for new accounts?
Plus500 US offers a deposit bonus of up to $200, which allows you to trade without paying commissions until the bonus balance is used up. The bonus only applies to your first deposit.
How do you open Plus500 futures trading account?
You can open an account with Plus500 US online. You will need to provide some basic information (date of birth, social security number, annual income, etc.) as well as some documentation relating to your identification and your address.
When it comes to funding your account, you can do this via bank transfer, debit card (Visa and Mastercard), and Apple Pay.
The minimum deposit for debit cards is $100 while the minimum deposit for wire transfer is $200.
Plus500 US Futures Trading FAQs
Futures are financial contracts whereby two parties agree to exchange a financial asset (e.g. an index, commodity, or currency) at a fixed price and time in the future. When entering into a futures contract, one only needs to pay a fraction of the full price upfront (this is known as margin).
E-mini contracts are one-fifth the size of a standard futures contract while Micro E-mini contracts are one-tenth the size of E-mini contracts.
Futures contracts usually start trading at 6pm Eastern Time (ET) on Sunday and finish trading between 4:30pm and 5pm ET on Friday.
Plus500 is a regulated company so you should consider it to be trustworthy. When you open an account with Plus500 US, the company will hold your funds in a segregated bank account.
Yes, it has an app for both iOS and Android.
In the US, Plus500 is registered as a Futures Commodity Merchant (FCM) with the US Commodity Futures Trading Commission (CFTC). It is also a member of the National Futures Association (its NFA ID number is 0001398) and the Chicago Board of Trade (CBOT).
The minimum deposit with Plus500 US is $100.
The leverage is different for each instrument depending on the margin. Note that trading with leverage comes with a high risk and may not be suitable for everyone.
Plenty of people make money on Plus500. However, trading futures is risky, and many people lose money with this form of trading.
