- Experts rate Plus500 highly for its accessible trading platform, noting the low initial deposit requirement and the ability to day trade forex with higher leverage. However, they mention limitations such as a restricted range of order types and currency crosses, which may affect more experienced traders seeking diverse options.
- Across 146 user reviews on Good Money Guide, averaging 3.7/5, customers frequently highlight the user-friendly interface and the wide variety of trading options available, including forex and CFDs. While many praise the platform's reliability and customer support, some users express dissatisfaction with trading conditions and issues related to account management, indicating a mix of positive and negative experiences.
Plus500 US Forex 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 US Forex Trading across five key areas of our review framework.
- Pricing4.5
- Market Access4.5
- App & Platform4.5
- Customer Service4.5
- Research & Analysis4.0
Pros
- On-exchange futures
- Small initial deposit requirement
Cons
- Limited order types
- limited currency crosses
See full expert review
Our verdict
US forex traders can trade on-exchange currency future with Plus500. 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).
Trading in futures involves the risk of loss.
Is Plus500 a good US forex broker?
Yes, Plus500 offers on-exchange currency futures, so when you trade forex with Plus500, you are trading on the CME and ICE. It's a good platform for new traders to get started as there are mini and micro FX contracts available and you only need $10 to get started.
You are also able to day trade forex on Plus500 as they offer intraday margin, which gives you higher leverage if your positions are closed by end of day and not carried overnight. For instance, if you were trading 1 lot of USDGBP the full margin requirement would be $1,925, but for forex day trading this is reduced to $500.
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.
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
4/5
Pros:
This platform have an options.
Cons:
I don't have idea, i like everything.
2/5
Pros:
None
Cons:
n/a
5/5
5/5
3/5
3/5
3/5
2/5
Pros:
The news coverage
Cons:
Modern UI
4/5
Pros:
Na
Cons:
Na
1/5
Pros:
crypto
Cons:
Reduce spreads
Thank you for the suggestion. Spreads vary depending on market conditions and the instrument traded, and they’re always visible before opening a position so traders can make informed decisions. We aim to keep our pricing competitive and appreciate the feedback.
5/5
1/5
Pros:
bad
4/5
Pros:
Range of tradeables
Cons:
No thoughts
4/5
Pros:
Informative
Cons:
Nothing
5/5
Pros:
Easy to use
5/5
Pros:
Preferred shares
Cons:
Answer emails quicker
4/5
2/5
5/5
1/5
Cons:
Improve transparency
Thank you for the feedback. Transparency is very important to us, and we aim to provide clear information about trading conditions, fees, and risks at every stage. We’re always looking for ways to improve how this information is presented.
Yes, Plus500 offers on-exchange currency futures, so when you trade forex with Plus500, you are trading on the CME and ICE. It’s a good platform for new traders to get started as there are mini and micro FX contracts available and you only need $100 to get started.
If you are a beginner options trader in the US it is worth starting with a demo account and utilizing a brokers trading academy, webinars, and insights for learning and to understand the risks involved.
If you are a beginner trader it is worth starting with a demo account and utilizing a brokers trading academy, webinars, and insights for learning and to understand the risks involved.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
