Overview
Regulation
The group holds licences across fourteen regulators. Clients from Chile are served by Plus500SEY Ltd under licence FSA Seychelles SD039. The user agreement is governed by the law of the Republic of Seychelles and assigns disputes to the exclusive jurisdiction of Seychelles courts. Client money is segregated from the company's own funds under the Securities Act 2007 and the Securities (Conduct of Business) Regulations 2008, and a client is categorised as a retail client by default. In Chile the CMF maintains the Ley Fintech register of providers established in the country and publishes alerts about entities operating outside it. A complaint runs through the broker's internal procedure, kept under FSA requirements, and is escalated from there to the FSA Seychelles.
Platforms and instruments
Plus500 runs only its proprietary platform, available as a web terminal. The portfolio covers more than 2,800 CFDs across forex, shares, indices, commodities, options and cryptocurrencies. A free and unlimited demo account and the Plus500 Trading Academy are available.
Trading conditions
Plus500 offers a single retail CFD account with a minimum deposit of about US$55. Pricing is spread-only: the broker is paid through the dynamic buy/sell spread built into the quote. The spread floats with market liquidity and runs around 0.9 pips on EUR/USD. Leverage is set per instrument, capped by asset class:
Initial margin follows from the cap: 0.33% on forex, 0.67% on commodities and indices, 20% on cryptocurrencies. Once the margin in the account drops below 50% of the total initial margin required for all open CFDs, positions are closed automatically, starting with the smallest. An overnight funding fee applies to positions held past the daily cut-off. A currency conversion fee of up to 0.7% of realised profit and loss applies to instruments denominated in a currency other than the account currency, which on a CLP account covers instruments quoted in dollars. A guaranteed stop order is filled at a wider spread, and an inactivity fee of up to US$10 per month applies after three months without login. Negative balance protection applies, so the account cannot fall below zero.
Payments for clients from Chile
The account can be opened in CLP or USD. The minimum deposit is about US$55 (CH$50,000) by card, Google Pay and Skrill, and about US$215 (CH$200,000) by bank transfer. The transfer is an international wire to a Plus500SEY Ltd account at Deutsche Bank AG in Frankfurt and is credited within five business days. Plus500 charges no fee of its own on deposits, although a card issuer or bank may apply its own charge on international card transactions and cross-border transfers.
Withdrawals
Withdrawals follow a return-to-source policy: funds are returned through the method used to deposit. A request is processed within three business days where possible, after which the timing of the payment provider or the bank applies. Five withdrawals per month are free and each further withdrawal in the same month costs US$10. The minimum withdrawal is US$50 via Skrill and US$100 by card or bank transfer; a request below the minimum carries a US$10 fee, and a bank transfer may carry up to US$6 in bank processing charges.
Localisation and support
The website and educational materials are available in Spanish, and the platform interface is in English. Support is provided in writing, through live chat and email.
Additional programmes
A first-deposit bonus is offered in tiers by deposit size, claimed with a promo code at the time of the deposit and released once the required trading volume, measured in Trader Points, is reached. The same Trader Points drive a loyalty programme with three levels: Premium from 10,000 points, Elite from 50,000 and Ambassador from 250,000. All three carry a rebates programme, expert market analysis, a personal manager and a financial news subscription; Elite adds four personal educational sessions and Ambassador six.
Public sources
Trustpilot: 4.2 out of 5 across 19,295 reviews. In October 2012 the UK FSA fined Plus500UK Limited £205,128 for failing to report transactions accurately and on time. In April 2017 Plus500 reached a €550,000 settlement with Belgium's FSMA for offering CFDs in Belgium without regulatory approval, without admitting guilt. Both actions concerned other entities of the group; no enforcement action has been recorded against Plus500SEY Ltd, the entity that serves clients from Chile.
Pros and cons
- Chilean peso (CLP) account
- 1000+ trading instruments
- Negative balance protection
- Adjustable leverage
- Account inactivity fee
- No MT4 or MT5 platforms
Account types
Accounts available to clients from Chile.
Spread shown for EUR/USD. Commission is round turn per lot.
Payment methods
Available deposit and withdrawal methods for clients from CL.
Regulation & Licenses
Financial Conduct Authority is the main UK financial regulator, founded in 2013. It supervises over 50,000 financial firms, including CFD and forex brokers.
Financial Services Compensation Scheme (FSCS) is a statutory fund that pays up to £85,000 per client when a regulated broker fails. The service is free.
Australian Securities and Investments Commission is the Australian corporate and financial regulator. It licenses brokers under the Australian Financial Services License (AFSL).
Compensation Scheme of Last Resort (CSLR), operational since April 2024, pays up to AUD 150,000 per claim if a firm fails to satisfy an AFCA determination due to insolvency.
Monetary Authority of Singapore is Singapore's central bank and integrated financial regulator, founded in 1971. It licenses forex/CFD brokers under a Capital Markets Services (CMS) Licence.
No statutory compensation fund covers forex/CFD broker clients. The Singapore Deposit Insurance Corporation (SDIC) cap of S$100,000 applies to bank deposits only, not trading accounts.
Canadian Investment Regulatory Organization is Canada's national self-regulatory organization, formed on 1 January 2023 (renamed CIRO on 1 June 2023) by consolidating IIROC and the MFDA. It oversees investment dealers, mutual fund dealers and trading on Canada's debt and equity marketplaces.
The Canadian Investor Protection Fund (CIPF) covers eligible client property (securities and cash, excluding crypto-assets) up to CAD 1,000,000 per account category if a CIRO member firm becomes insolvent.
Financial Services Agency of Japan is the independent Japanese financial regulator, founded in 2000. It licenses forex brokers with a retail leverage cap of 1:25. There is no online register search: the list of licensed firms is published as an Excel file, and a licence is verified by searching within it.
Japan Investor Protection Fund (JIPF) is the statutory compensation fund that pays up to ¥10,000,000 per client if a licensed broker becomes insolvent.
Cyprus Securities and Exchange Commission is the Cyprus financial regulator and an ESMA member. It licenses and supervises investment firms within the EU jurisdiction.
Investor Compensation Fund (ICF) covers up to 90% of covered client claims, capped at €20,000 per client, if a CIF firm becomes insolvent. Apply via the online form on cysec.gov.cy or by post: ICF, 19 Diagorou Str., 1097 Nicosia.
Financial Sector Conduct Authority is the South African market conduct regulator, founded in 2018 as the successor to the FSB. It licenses forex brokers as Financial Services Providers (FSPs) under the FAIS Act.
No investor compensation fund for forex broker clients. Protection relies on FAIS licensing requirements and mandatory segregation of client funds.
Dubai Financial Services Authority is the independent regulator of financial services in the Dubai International Financial Centre (DIFC) free zone, founded in 2004. It licenses banks, investment firms and CFD/forex brokers operating from DIFC.
No statutory investor compensation scheme. Client protection relies on licensing capital requirements and mandatory segregation of client funds.
Financial Markets Authority is New Zealand's principal conduct regulator for financial markets, an independent Crown entity established on 1 May 2011. It licenses derivative issuers (forex and CFD providers), managed investment scheme managers and financial advisers.
No statutory investor compensation fund exists in New Zealand. Client protection relies on licensing requirements and the broker's mandatory membership of an approved dispute resolution scheme.
Finantsinspektsioon (the Estonian Financial Supervision and Resolution Authority) is the financial regulator of Estonia, founded in 2002 and part of the EU and ESMA framework. It supervises banks, investment firms (CFDs under MiFID), fund managers, payment institutions and the securities and crypto-asset markets.
The Investor Protection Sectoral Fund within the Guarantee Fund (Tagatisfond) reimburses a client's investments up to €20,000 if an investment firm registered in Estonia becomes insolvent.
Israel Securities Authority is the independent Israeli securities regulator, founded in 1968. Since 2015 it licenses CFD/forex brokers under the Online Trading Platform Licence. The public licence register on the ISA website is accessible only from Israel.
No statutory compensation scheme. Client funds must be kept in segregated accounts and cannot be used by the broker to cover trading losses.
Securities and Commodities Authority is the UAE federal regulator of securities and commodities markets, established in 2000. It licenses forex brokers operating on mainland UAE, outside the DIFC and ADGM free zones.
No statutory compensation scheme. The SCA does not handle monetary compensation claims; complainants must pursue these through the competent UAE courts.
Financial Services Authority of Seychelles is the non-bank financial services regulator of Seychelles, founded in 2013. It licenses forex brokers under the Securities Dealer category.
No investor compensation fund. Segregation of client funds is a licensing requirement, but there is no state-backed reimbursement if a broker becomes insolvent.
Email: [email protected], or use the form at fsaseychelles.sc/complaint-handling. You must first lodge the complaint with the broker and wait 21 business days before escalating to the FSA.
Securities Commission of The Bahamas is the Bahamas capital markets regulator, founded in 1995. It supervises investment funds, securities and capital markets. There is no online register search: the commission publishes the list of licensed firms as a PDF document, and a licence is verified by searching within it.
No investor compensation fund. Client protection relies on licensing capital requirements and the broker’s segregation of client funds.