Plus500 offers to professional clients unique account type called the Plus500 Professional account. Unlike the Plus500 retail account, this pro account allows its traders to use higher leverage when opening trades. Today, we will cover what are all the advantages and disadvantages of the Plus500 Professional account and the conditions you have to meet to get such an account.
Plus500 Professional vs Retail account leverage
Because on Plus500 pro clients do not apply the ESMA (The European Securities and Markets Authority) rules and leverage restrictions, they can take advantage of higher leverage. Here is a breakdown and comparison table of maximum leverage that pro and retail clients can use at Plus500.
|Asset category||Pro accounts||Retail clients|
The last update of the table was on 28.06.2020. Please remember that using higher leverage is a two-edged sword.
Are there any other differences between Plus500 Pro and Retail account?
Yes, while Plus500 still offers to both account types: Negative Balance Protection, Client Money Protection and Financial Services Compensation Scheme, the Plus500 pro account does not have access to the Financial Ombudsman Service (the “FOS”). According to the Plus500 website, there should be no other differences (apart from the higher leverage and FOS) between Professional and retail account.
Can I change my pro account back to retail?
Yes, you can. If you change your mind about having the Plus500 pro account, you can contact the Plus500 customer support and they will change it back to the retail account.
How to get Plus500 Professional account?
In order to get the Plus500 professional account, you have to meet at least 2 out of 3 from these conditions.
- Trading volume – You made on average at least 10 trades per quarter, of significant size, over the previous four quarters on relevant markets *1 (Either with Plus500 and/or other providers).
- Sizable portfolio – You have a financial portfolio of at least €500,000 *2 (including cash savings and financial instruments).
- Relevant experience – You work or have worked in the financial services sector for at least one year in a professional position.
*1 Relevant Market – OTC Derivatives such as Leveraged CFDs, Forex, Spread Betting.
*2 Financial instruments portfolio includes shares, derivatives (only cash deposits made to fund/profits realised from investing in derivatives), debt instruments and cash deposits. It does not include property portfolios, direct commodity ownership or notional values of leveraged instruments.
72% of retail CFD accounts lose money