Plus500 Review 2026
The full Plus500 write-up for Nigeria traders: the kitchen inspection, the ingredient costs, the bill, and our straight verdict.
Regulation in Nigeria
| Regulator | FSA FSA, Seychelles Financial Services Authority (FSA) |
| Licence Number | SD039 |
| Regulated Entity | Plus500SEY Ltd |
| Max Leverage (Forex) | 1:300 |
| Max Leverage (Crypto) | 1:10 |
| Minimum Deposit | $100 |
| EUR/USD Spread | From 0.6 pips |
| Instruments | 2,000+ |
| Platforms | WebTrader, iOS, Android |
| Copy Trading | ✗ |
| Real Stocks | ✗ |
| Inactivity fee | Inactivity fee: USD10/month after 3 months (no login) |
Verdict
Cooks under FSA (licence SD039). Cover charge $100. In Nigeria, forex leverage is capped at 1:300.
About Plus500
Plus500 opened its doors in 2008 out of a kitchen in Haifa, Israel. Its menu runs to 2,000 tradeable instruments, forex pairs alongside CFDs on stocks, indices and commodities. Plus500 trades publicly on the LSE:PLUS. It holds licences across several jurisdictions, with the head licence carried by Plus500SEY Ltd under FSA.
In Nigeria, Plus500 serves as Plus500SEY Ltd, cleared by FSA under licence number SD039. Under FSA house rules, Nigeria traders are poured no more than 1:300 leverage on forex pairs.
Trading Platforms
Pros
- FSA regulated, licence SD039
- 2,000+ instruments to trade
- Negative balance protection in Nigeria
- Platforms: WebTrader, iOS, Android
- Founded in 2008 (18 years operating)
- Publicly listed (LSE:PLUS), subject to stock-exchange disclosure rules
Cons
- Inactivity fee: USD10/month after 3 months (no login)
- 82% of retail clients burn their fingers
- CFDs only, you trade the price, you never own the dish
- No real stock ownership
Key Facts, Plus500
- Listed on London Stock Exchange Main Market since 2018 (ticker: PLUS)
- Proprietary platform only, no MT4, MT5, or cTrader
- Offers guaranteed stop-loss orders (GSLO) at an added spread cost
Known Limitations
- Inactivity fee of $10/month applies after 3 months without login
- No support for automated trading (EAs/bots)
- CFD-only, no direct ownership of underlying assets
Frequently Asked Questions
Is Plus500 regulated?
Yes. Plus500 is authorised by FSA, issued to the entity Plus500SEY Ltd, an authorisation you can look up for yourself on the official FSA public register.
What is the minimum deposit for Plus500 in Nigeria?
The cover charge is $100, the smallest amount Nigeria traders need to open a live account with Plus500 under FSA rules.
What leverage does Plus500 offer in Nigeria?
In Nigeria, FSA rules cap Plus500 at 1:300 on forex pairs. A larger pour is sometimes available through offshore-regulated entities, with thinner protection to match.
Is Plus500 safe to trade with?
The kitchen passes inspection: Plus500 cooks under FSA. A tier-1 regulator insists on segregated client money, negative balance protection and independent audits, while lighter offshore regimes offer weaker cover and often no compensation scheme. That does not make trading risk-free, so check which entity holds your account and what protections actually apply before you deposit.
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