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S&P 500
S&P 500
ES
$7,356.782 -0.79%

How to trade the S&P 500

Everything you need to know about the S&P 500 and how to trade it with CFDs on Plus500.

  • Plus500
  • June 2026
  • 5 min read

What is the S&P 500?

The S&P 500 tracks 500 of the largest U.S. companies, covering about 80% of the total market value. It serves as a primary benchmark for the American stock market and includes giants like Apple, Alphabet, and NVIDIA.

The S&P 500 has shown a 10% average annual return since 1926, even though investors have experienced volatility like the 20% drop in 2022*. This volatility is partly driven by the Index's market-cap-weighting structure, where larger companies like Amazon or Microsoft drive price movements more than smaller ones. For any trader, this history is a reminder that while short-term dips are likely, the market horizon has historically been upward.

When the S&P 500 shifts, it is usually because of a few key movers in its giant basket of 500 listed U.S. Stocks. The Index also reacts to earnings releases and economic data reports. Another influencer is the USD strength and sudden geopolitical events, which play a major role in driving volatility. Understanding these drivers helps traders keep informed of potential shifts.

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Why trade the S&P 500?

The "Basket of Fruit" Concept

Instead of buying one apple (a single stock), you get a whole basket containing small pieces of 500 different fruits.

  • If one fruit goes bad, the rest of the basket can stay fresh.
  • If the whole farm has a great season, the value of your entire basket goes up.

The S&P 500 is similar to that. You speculate on a piece of everything from Tech (Google) to Cars (Tesla) to Banking (Citigroup).

Why trade the S&P 500 with us?

Top industry awards

ADVFN 2023 Best Provider Global Trading
ForexBrokers 2024 Best in Class Trust Score
ADVFN 2025 Best Provider Global Trading
ForexBrokers 2025 Best in Class Ease of Use
FXEmpire 2025 Best Mobile Trading App
FXEmpire 2025 Best Broker in EU
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What makes it popular?

  • Diversity

    Instant exposure across major U.S. Stocks.

  • Security

    Reviewed and updated by a standard committee.

  • Growth

    Long-term average returns around ~10% per year.

"S&P" refers to Standard & Poor's, the firm behind the index, and "500" refers to the 500 constituent companies. The index is now maintained by S&P Dow Jones Indices.

Trade the S&P 500 your way

With Plus500, you can discover three different ways to trade the S&P 500 to suit your strategy.

  • Index CFDs

    Gain exposure the standard way on S&P 500 daily price movements.

  • Options CFDs**

    Speculate on reaching a certain price by a certain date.

  • ETF CFDs

    Trade CFDs on popular funds like SPY that track the Index directly.

Choosing between Index CFDs, Options CFDs, and ETF CFDs often comes down to your time horizon and how you want to manage risk. While all three are derivatives, they behave very differently in a portfolio. This table helps you understand which instrument aligns with your strategy.

Feature Index CFDs Options CFDs ETF CFDs
What you trade The value of a market Index (e.g., S&P 500). The price of an Option contract on an asset. The price of a basket of Stocks (e.g., AMZN, AAPL).
Price Driver Moves 1:1 with the underlying Index. Driven by price, time left, and volatility. Moves 1:1 with the ETF share price.
Expiry Date Usually "Roll over" automatically. Fixed Expiry: Contract ends on a specific date. Usually "Roll over" automatically.
Leverage Yes Yes Yes
** Availability subject to jurisdiction.

How to get started

  • Open an account

  • Practise risk-free demo

  • Trade for real

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Trading the S&P 500 with Leverage

Leverage lets you open a larger position with a smaller deposit.
With Plus500, 1:20 leverage, means every $1 you deposit gives you exposure to $20 in the market.

Your Deposit

$4,200

Market Exposure

$84,000
Deposit x 20 This is the total value of your CFD position on the S&P 500.
While leverage can magnify gains, it can also amplify losses, depending on the price movements of the underlying asset.

Understanding S&P 500 risks

While every investment holds risk, the S&P 500 is known for its exposure across 500 U.S Stocks, making it popular to build wealth over time. One of its biggest risks is market volatility, which has historically driven its strong returns (averaging about 10% annually over the long run) but has also led to notable downturns. By staying invested through the S&P 500’s downtrends, you are gaining exposure to the overall growth of listed companies, even through their hardship.

The Index’s downtrends are also part of its strength. By focusing only on large, successful U.S. tech giants, you are choosing stability and quality over high-risk smaller companies. For traders, the S&P 500 provides exposure to an Index rather than individual stocks, where the committee automatically removes underperforming companies that do not meet the inclusion criteria and replaces them with new successful companies. However, because the Index is currently dominated by some big tech giants, it can drop if those specific companies have a bad year.


Exit strategy & risk management

Essential risk management tools are key to help protect gains and minimise losses. Let’s break them down:

  • Close at Profit

    Helps you secure potential gains by closing a position once a specified profit level is reached.
  • Close at Loss

    Allows you to set a price at which your CFD position will automatically close in order to limit potential losses.
  • Trailing Stop

    Can be set at a specific distance from the current market price. It remains active as long as the price moves in your favour and the stop level “trails” along with the market price by the predefined specific distance.
  • Guaranteed Stop

    Helps ensure that your position will close at the exact price you set with no risk of Slippage due to market volatility or gapping.

These tools are critical so you can have a solid exit strategy in times of volatility.

* Past performance does not reflect future results. The above is for marketing and general informational purposes only, and are only projections and should not be taken as investment research, investment advice or a personal recommendation.

Key takeaways

  • What it is

    The S&P 500 tracks 500 of the largest U.S. companies. Its historical performance has a 10% average annual return. The Index’s price is driven by earnings, data reports, and USD strength.
  • Why trade it

    One trade gives broad exposure across many U.S Stocks. It's reviewed and updated by a committee regularly.
  • The Pluses with us

    Trade with fast order execution, tight spreads, advanced tools, and secure withdrawals.
  • Ways to trade

    Access via Index CFDs, Options CFDs, or ETF CFDs (e.g. SPY) and compare how all three are derivatives, behaving differently.
  • How to get started

    Open an account, try demo trading, and trade for real.
  • Understanding the risks

    One of its biggest risks is market volatility, which allows for its historically strong returns. Essential risk management tools are key to help protect gains and minimise losses.

FAQs

Since 1926, the S&P 500 has delivered an average annual return of approximately 10%. While short-term volatility is common, including a 20% drop in 2022, the long-term trajectory has historically trended upward. Past performance does not guarantee future results.

Key drivers include earnings releases from major companies, U.S. economic data reports, USD strength, and geopolitical events. Because the Index is market-cap weighted, the largest companies, such as Amazon and Microsoft - have an outsized influence on price movement.

Trading the S&P 500 gives you instant diversified exposure across 500 major U.S. companies spanning sectors like technology, automotive, and banking. If one company underperforms, the broader basket can help offset the impact. It also benefits from a standard committee that regularly reviews and updates its composition.

Leverage lets you open a larger market position with a smaller deposit. While leverage can amplify potential gains, it equally amplifies losses.

Market volatility can be the primary risk. Although the Index is diversified across 500 companies, it is currently dominated by large-cap tech companies, meaning a downturn in that sector can significantly impact the overall Index. Leverage also increases both potential gains and losses.

You can open an account, practise with a risk-free demo, and then trade for real when you're ready.
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