- 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
2/5
Pros:
charts
Cons:
most things
3/5
Pros:
Trustworthy
2/5
1/5
Pros:
nothing
Cons:
n/a
3/5
3/5
4/5
Cons:
Corses for beginners
4/5
3/5
Pros:
Unlimited trading instruments
Cons:
Telephone communication
Thank you for your feedback. At the moment, we don’t offer telephone support, as we believe written communication allows us to provide clearer, more accurate assistance and ensures all information is properly documented. Our support team remains available through written channels.
3/5
3/5
5/5
3/5
Pros:
Spreads
3/5
Pros:
Not friendly plattform
Cons:
Be more friendly (interface)
Thank you for sharing your experience. We’re sorry to hear the platform didn’t feel user-friendly to you. Ease of use is something we focus on strongly, and feedback like this helps us understand where improvements may be needed.
1/5
Pros:
1000
3/5
Pros:
Ability to go short
Cons:
Don't onow
dean R @ 02/03/2021 05:38
6 months in, and after my experience with a competitor, i can report Plus500 has been very good. I don't understand some of the bad reviews. I find it really clear and easy to open a Buy or Sell position exactly when i want to. the live prices and required Margins are well indicated and the graphs are g8. Withdrawing profit has been fuss free and fast. The mobile app is fab and better that their website app because the latter has troublesome nasty ultra-thin scroll bars despite my feedback to their developers.
Jay @ 05/29/2020 09:22
In my opinion all the bad reviews are correct and the good reviews are very suspicious. Go read all the Trustpilot reviews in all the threads. When people say theyÔÇÖve had their close button frozen and theyÔÇÖve been logged out and theyÔÇÖve lost their money, itÔÇÖs truth. CFD trading is where your loss is Plus500ÔÇÖs profit. They make huge profit. If you donÔÇÖt want to be a bad reviewer then stay clear of Plus500.
We understand why online reviews can influence opinions, and we respect everyone’s right to share their experience. CFD trading involves significant risk, and losses are a possible outcome. We aim to be transparent about how our platform works and encourage anyone considering trading to carefully review the risks and decide whether it’s right for them.
Karl @ 06/18/2019 11:03
Be carefull, to many fake reviews. They close your positions if the market is in your favor.
We understand why comments like this can raise concerns. We’d like to clarify that Plus500 does not close positions based on whether the market is in a client’s favour. Trading outcomes are influenced by market movements and trading conditions, which are explained in advance.
Paul M @ 05/29/2020 09:39
You claim you source prices from third parties, so name them, who are these third parties? Your execution order says that Plus500 obtain there prices from Plus500 Ltd. So do you set your own prices? You do know under law you are obliged to be clear so answer this do you set your own prices.? Do you profit from client losses? Your misleading hedging policy indicates you do. You say on your user agreement you may hedge client trades with third parties yet your support staff say that you use an internal hedging system that is managed by the buy and sell spreads. You operate with a conflict and interest and with that comes the ability to manipulate but the motivation is there too as clearly you are profiting from client losses.
We understand the concerns being raised and appreciate the opportunity to clarify at a high level. Plus500 prices are derived from external market data sources and are set in accordance with our execution policy, which is publicly available. Pricing and execution are handled in line with regulatory requirements, and relevant information is outlined in our legal documentation.
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.
