Home / Best Forex Brokers in Malaysia / Plus500 Broker Review

Plus500 Broker Review

FX Scouts By Jeffrey Cammack Updated: May 25, 2020
Overall Rating
3.74 / 5
Min. DepositUSD 100
Max. Leverage30:1
Min. Spread0.7 pips
Regulators CySEC,ASIC,FSCA,MAS,FMA
Regulator Origin CySEC ASIC FSCA MAS FMA
Trading Desk Type

Summary

With 50+ Forex pairs available, tight spreads and fast execution, Plus500 is a popular broker with both its new and long-standing customers. Award-winning customer service is available 24/7 and the Plus500 platform is web-based with no need for any downloads or setup, making this a good provider for those starting out who want to keep it simple.

Plus500 has one account with a 100 USD minimum deposit requirement and keeps simplicity at the core of its business.

 

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Poor
Bonuses
Our Review Process

Trading Conditions

Minimum DepositUSD 100
Base currenciesUSD, EUR, GBP, AUD
Number of FX Pairs70+
Hedging Allowed No
Scalping No
Islamic Account Yes

Average Spreads

EUR / USD0.7
GBP / USD1.5
USD / JPY0.7

Company Details

Company namePlus500 Ltd
Founded2008
Website www.plus500.com
Type Market Maker
Regulators CySEC,ASIC,FSCA,MAS,FMA
Office locations Israel

Deposit & Withdrawal Methods

Supported Platforms for Plus500

All information presented is verified as of the date of the review. Most retail CFD accounts lose money. Your capital is at risk.

  • Help me to solve my problem
    Please
    He say from 500 plus market
    He took my money n lie

    • Chris Cammack says:

      Hi Haslia, I’m very sorry to hear about your difficulty. This person is not from Plus500 as they do not contact customers and ask them to give them money. Could please fill out our Scam Broker form here: https://forex-malaysia.my/forex-scams-report-a-broker/ and please include as much detail as possible – include the person’s name and email address if possible. Many thanks.

  • Joseph says:

    Hi, wonder if anyone can solve my confusion if the profit generated from trading share/forex/commodities using this Plus500/eToro… is taxable under Malaysia law?

    • Chris Cammack says:

      Hi Joseph, thanks for your comment.

      Indeed, this is a confusing subject, and the answer is whether gains from your Forex trading are considered revenue or not. The Inland Revenue Board of Malaysia defines revenue as “transactions relating to normal income-earning operations or are directly or sufficiently bound to business operations”. If Forex trading is what you do for a living, then yes, the gains are taxable.

      On the other hand, if your profits are capital in nature, then they are not taxable. Inland Revenue defines Capital gains as: “those that involve assets of enduring value i.e. fixed capital, investments and speculations outside the normal income-earning activities of a person.” So, if you have a job and you trade Forex on the side, then your profits are not taxable.

      Please read through this document for more information: http://lampiran1.hasil.gov.my/pdf/pdfam/PR_12_2019.pdf.

      Hope that helps!

  • Compare CFD Brokers

    Overall Rating 3.74 / 5 3.33 / 5 3.87 / 5
    Minimum DepositUSD 100USD 200USD 1
    Regulation
    CySEC CySEC
    ASIC ASIC
    FSCA FSCA
    MAS MAS
    FMA FMA
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    CySEC CySEC
    IFSC IFSC
    Trading Desk Type
    Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Vanilla Options, ETFsCommodities, Cryptocurrencies, Forex, Indicies, EquitiesCommodities, Cryptocurrencies, Forex, Metals, Equities
    Forex Pairs70+4737
    Crypto Pairs9164
    Pros
    • Well regulated
    • Wide range of assets
    • Well regulated
    • Good for beginners
    • Innovative trading tools
    • Tight spreads
    • Low minimum deposit
    • Excellent education
    • Excellent market analysis
    Cons
    • Limited education
    • Limited account options
    • Limited education
    • Wide spreads
    • Limited range of assets
    • Extreme leverage
    Read Full Review Read Full Review
    Trust Rating 5 / 5 5 / 5 3.5 / 5
    Trading Conditions 3 / 5 2 / 5 4.5 / 5
    Trading Platforms 4 / 5 4 / 5 4.5 / 5
    Deposit & Withdrawal 3 / 5 2 / 5 2 / 5
    Education & Research 1.5 / 5 1.5 / 5 4.5 / 5
    Assets Available 4.5 / 5 4 / 5 4 / 5
    Customer Service 4.5 / 5 4 / 5 3.5 / 5
    % Lose with this broker 76.4% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
    Leverage30:130:130:1
    Spread0.7 pips2.0 pips0.0 pips
    Hedging No Yes Yes
    Scalping No No Yes
    Account Types
    • Standard (Standard)
    • Standard (Standard)
    • Zero Spread (Professional)
    Islamic Account Yes Yes Yes
    Trading Platforms Plus500 etoro MT4, MT5
    Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Paypal Visa, Mastercard, Neteller, Unionpay, Skrill, Paypal Visa, Neteller, Unionpay
    Trading Commission Fees Included in Spread Fees Included in Spread 6 USD / lot - ECN Account
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    Overall Rating 3.74 / 5 3.33 / 5 3.87 / 5
    Minimum DepositUSD 100USD 200USD 1
    Regulation
    CySEC CySEC
    ASIC ASIC
    FSCA FSCA
    MAS MAS
    FMA FMA
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    CySEC CySEC
    IFSC IFSC
    Trading Desk Type
    Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Vanilla Options, ETFsCommodities, Cryptocurrencies, Forex, Indicies, EquitiesCommodities, Cryptocurrencies, Forex, Metals, Equities
    Forex Pairs70+4737
    Crypto Pairs9164
    Pros
    • Well regulated
    • Wide range of assets
    • Well regulated
    • Good for beginners
    • Innovative trading tools
    • Tight spreads
    • Low minimum deposit
    • Excellent education
    • Excellent market analysis
    Cons
    • Limited education
    • Limited account options
    • Limited education
    • Wide spreads
    • Limited range of assets
    • Extreme leverage
    Read Full Review Read Full Review
    Trust Rating 5 / 5 5 / 5 3.5 / 5
    Trading Conditions 3 / 5 2 / 5 4.5 / 5
    Trading Platforms 4 / 5 4 / 5 4.5 / 5
    Deposit & Withdrawal 3 / 5 2 / 5 2 / 5
    Education & Research 1.5 / 5 1.5 / 5 4.5 / 5
    Assets Available 4.5 / 5 4 / 5 4 / 5
    Customer Service 4.5 / 5 4 / 5 3.5 / 5
    % Lose with this broker 76.4% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
    Leverage30:130:130:1
    Spread0.7 pips2.0 pips0.0 pips
    Hedging No Yes Yes
    Scalping No No Yes
    Account Types
    • Standard (Standard)
    • Standard (Standard)
    • Zero Spread (Professional)
    Islamic Account Yes Yes Yes
    Trading Platforms Plus500 etoro MT4, MT5
    Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Paypal Visa, Mastercard, Neteller, Unionpay, Skrill, Paypal Visa, Neteller, Unionpay
    Trading Commission Fees Included in Spread Fees Included in Spread 6 USD / lot - ECN Account

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    All information presented is verified as of the date of the review. Most retail CFD accounts lose money. Your capital is at risk.

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