Alternatives to Plus500
Plus500 is a well-known CFD and options trading platform offering access to over 6,000 markets. It's popular with active traders who want leveraged exposure to global instruments without owning the underlying assets. However, Plus500 doesn't support ASX or US share trading, real share ownership, or features like auto-invest, DRP, or SMSF accounts. If you're after direct share ownership, lower spreads, a custodial brokerage model, or a platform that supports ASX shares, there are solid alternatives worth comparing. Here are six alternatives to Plus500 that each offer something meaningfully different.
Lower minimum deposit ($20 vs $100) and no options trading, but similar CFD coverage across 6,000+ markets.
- ASX ETFs supported
- No
- Auto-invest / DCA
- No
- Monthly platform fee
- $0/month
Tighter spreads from 0.5 pips on AUD/USD with zero platform fee and no minimum deposit required.
- ASX ETFs supported
- No
- Auto-invest / DCA
- No
- Monthly platform fee
- $0/month
Supports real ASX and US shares with zero brokerage and auto-invest, unlike Plus500's CFD-only model.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes(Plus500: No)
- CHESS sponsorship model
- custodian
Offers zero-brokerage ASX and US share trading plus CFDs on 17,000+ markets and SMSF accounts.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes(Plus500: No)
- CHESS sponsorship model
- custodian
Also offers options trading like Plus500 but with a lower $25 minimum deposit and fixed spreads.
- ASX ETFs supported
- No
- Auto-invest / DCA
- No
- Monthly platform fee
- $0/month
Common questions
Can I trade ASX shares on Plus500?
No. Plus500 is a CFD and options provider, not a share brokerage. You cannot buy or sell real ASX shares on the platform. If you want direct ASX share ownership, you'll need a broker that offers CHESS-sponsored or custodial ASX trading.
Does Plus500 charge a monthly platform fee?
No. Plus500 does not charge a monthly platform fee. You only pay spreads and overnight funding charges on leveraged positions. This makes it cost-effective for active traders who don't hold positions long-term.
Is Plus500 suitable for SMSF investors?
No. Plus500 does not support SMSF accounts. If you're managing a self-managed super fund and want to trade shares or derivatives within your fund, you'll need a broker that explicitly offers SMSF-compatible account structures.
What's the difference between CFD trading and real share ownership?
CFD trading lets you speculate on price movements without owning the underlying asset. You don't receive dividends or have voting rights. Real share ownership means you hold the actual shares, can receive dividends, and in Australia can be CHESS-sponsored for direct ASX ownership.