Plus500CY Limited Review – Is it a Scam or Legit Broker (2021)

Information source:
The source of this information is the website and the broker's trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business.

In this Plus500CY Limited Review, we are going to take a look at the offer that this broker prepared for its traders. Plus500CY Limited is regulated by the CySEC in Cyprus, by the ASIC in Australia and by the FCA in the UK. Plus500CY Limited operates on the financial market since 2008. When it comes to trading platforms, the broker features WebTrader. The Plus500CY Limited minimum deposit is 100 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this Plus500CY Limited Review

Website address:https://www.plus500.com/en 76.4% of retail CFD accounts lose money
Operated by: Plus500CY Ltd, Plus500UK Ltd, Plus500AU Pty, Plus500SG Pte Ltd
Licensed and authorised by regulatory bodies:CySec ASIC FCA MAS FSCA
Supported languages:English, German, Spanish, French and Italian
Customer support available via:E-mail, phone, live-chat
Contact details:[email protected] +972 4-689-2154
Available deposit methods:Bank transfer, Debit and Credit Cards, Paypal, Skrill ,
Available withdrawal methods:Bank transfer, Debit and Credit Cards, Paypal, Skrill ,
Minimum deposit:100 USD
Min. trade in lots:0.01
Spreads:Typical spread on the currency pair EUR/USD - 0,8 pips * on standard account type
Tradable assets:
Might be a CFD.
Forex (71), stocks (1400), commodities (22), indices (33), cryptocurrencies (12)
Demo: Yes
Mobile app: Yes
MetaTrader 4:No
Other trading platforms:WebTrader
Maximum leverage:

The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.

For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions.

1:300
Social trading:No

Plus500CY Limited Fees (typical spreads)

We have scanned fees (typical spreads) that Plus500CY Limited charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
1,5* 0,8* 1,7* 2,0* 1,3* 1,0*

*Typical spreads were recorded on 15.02.2021 at 09:55 for the standard account. Plus500CY Limited spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: PatForex, YSIFX, MXCForex and VTMarkets

Frequently Asked Questions

🧐 Is Plus500CY Limited a Scam?

Plus500CY Limited is a broker licensed and regulated by the CySec, ASIC, FCA, MAS and FSCA. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that Plus500CY Limited is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the Plus500CY Limited minimum deposit?

In order to start trading with Plus500CY Limited, you have to deposit at least 100 USD (Trading accounts can also be held in USD,EUR,GBP, CZK, HUF, ZAR).

📵 What deposit and withdrawal methods Plus500CY Limited supports?

Plus500CY Limited allows funding your account via Bank transfer, Debit and Credit Cards, Paypal, Skrill , .

⚖️ Would you recommend me choosing Plus500CY Limited?

We don’t have our own personal experience with Plus500CY Limited. However, because the broker is regulated by the CySec, ASIC, FCA, MAS and FSCA, there is a high chance that it is not a scam. With that being said, it still does not mean that Plus500CY Limited is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker IQ Option – 84% of retail CFD accounts lose money , which is a CySEC regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC £/€/$ 250 MT4 1.8 PIPs ¹
  • User-friendly trading platform
  • International support
Start tradingRead a review
CySECFCA £/€/$ 1 MT4 & xStation 5 0.9 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review
ASICCySECFCA £/€/$ 100 In-house built platform 0.7 PIPs ¹
  • User-friendly trading platform
  • Long-established company
Start tradingRead a review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

¹ Variable spreads, spreads recorded for the EUR/USD on 05.10.2021 at 11:42 GMT.