Plus500 is a top-rated trading platform offering clients a comprehensive range of CFDs in over 50 countries. It’s one of the leading CFD brokers in the UK, with more than 430,000 active customers and $1700 billion in traded value.
Plus500 does not offer trading in real stocks or exchange-traded funds. It is focused on CFDs (Contract for Difference).
Read my in-depth review of Plus 500, in which I examine the user experience, fees and charges, customer reviews, security and educational resources. We also compare it to other similar platforms to explore its strengths and weaknesses.
It is essential to remember that trading CFDs is a complex and high-risk activity. 84% of retail investor accounts lose money when trading CFDs with Plus500.
Plus500 Review: Our Verdict
With over 20 commodity CFDs, 90 ETF CFDs, indices CFDs, options CFDs, and shares CFDs, Plus500’s sheer range of CFDs places them ahead of many competitors. All this can be accessed from the Plus500 proprietary trading platform, which offers excellent search functions and alerts, making monitoring trades and analysing charts easy.
What I Like about Plus500
Overall, Plus500 is a well-designed trading platform with an intuitive UX. Trading is commission-free, and their spreads are in keeping with the industry average. They are regulated and secure. Trades are executed swiftly, and withdrawal is also an easy process.
I was impressed with Insights, an innovative proprietary analytical tool that provides real-time analysis of millions of trades. This tool is free for Plus500 users and allows traders to identify the most profitable trades and trader sentiment.
The lack of MT4 as an alternate platform and no auto-trading make it less suitable for some traders.
Also, the market research and Plus 500’s educational resources are slightly below average.
Pros & Cons of Plus500
- Established and reputable: Founded in 2008, Plus500 is publicly traded (LSE: PLUS) and part of the FTSE 250 Index
- Regulated in four tier-1 and four tier-2 jurisdictions.
- The new +Insights analytics tool includes the integration of advanced sentiment features from Trading Central and FactSet.
- Access to more than 2,800 CFDs, including popular stocks, indices, commodities, and currencies.
- Competitive spreads
- CFD option contracts on 24 popular symbols.
- Guaranteed stop loss orders:
- Robust risk management tools
- Limited educational resources
- No support for MetaTrader.
- No direct market access (DMA)
- Customer support: Although the platform offers 24/7 customer support, some users have reported delays in response times and difficulties in reaching a representative.
- No telephone support
- No social or copy trading
- Limited account types: Plus500 only offers a single standard account type and a demo account
My Review Methodology
To provide an unbiased and comprehensive review of Plus500, I followed a structured methodology that ensures a thorough evaluation of the platform’s offerings, considering the needs and preferences of different types of traders. My approach included the following:
- Platform testing: I opened live and demo accounts with Plus500 to test the platform’s functionality, ease of use, and reliability. This allowed me to assess the overall user experience and gather first-hand insights into the platform’s features.
- Research and analysis: I analyzed the range of trading instruments, spreads, fees, and other trading conditions to gauge Plus500’s competitiveness in the market. Additionally, I assessed the platform’s research tools, educational resources, and customer support to understand its offerings better.
- Comparisons with competitors: I compared Plus500 with other leading trading platforms to identify its unique selling points and potential drawbacks. This helped us put the platform’s strengths and weaknesses into perspective.
- Community feedback: I researched online forums, social media, and review websites to gather feedback from real users of Plus500. This helped us understand traders’ common issues and concerns and the aspects they appreciate most about the platform.
Some background on Plus500
Plus500 is a global fintech group founded in Israel in 2008 and listed on the London Stock Exchange.
Plus500UK Ltd, its UK-based subsidiary, is authorised and regulated by the Financial Conduct Authority (FCA) to offer CFDs. They have a customer base of over 20 million and offer over 2800 instruments.
Plus500 has achieved several key milestones since its founding in 2008, including expansion into markets in Europe, Australia, Singapore, and South Africa and signing sponsorship deals with several football clubs and the Chicago Bulls.
Understanding Plus500 at a Glance
|Key information||Plus500 details|
|Regulators||(FCA, BaFin, CySec, ASIC, DFSA, SCB, CMA)|
|Additional security aspects||Client funds are held in segregated tier-1 banks|
|Minimum deposit amount||$100|
|Deposit/withdrawal methods||Visa, Mastercard, Bank transfer, PayPal, Skrill|
|Deposit time||Immediate (1-3 days for bank transfers only)|
|Withdrawal time||1-3 working days|
|Currency Conversion Fee||up to 0.7% of the trade’s realised net profit and loss|
|Inactivity Fee||up to USD 10 per month will be levied should you not log in to your trading account for a period of at least three months.|
|Number of tradable instruments||2800+|
|Types of available instruments||CFDs on Indices, Forex, Commodities, Shares, Options, ETFs, Cryptocurrency|
|Available trading platforms||webtrader|
|Trading formats||Spread betting and CFDs (contracts for difference)|
|Compatible platforms||Windows, Mac OS, iOS & Android, WebTrader|
|Trading education||✔ (CFDs, forex, shares, and general trading information)|
|Algorithmic trading||Plus 500 does not offer APIs or automated trading|
Plus500 Security: Is it Safe to Use?
Plus500 is secure and safe for traders. The platform takes several measures to ensure the safety and security of its clients’ funds and personal information:
- Client Money Protection: All client money is held in segregated client bank accounts in accordance with the Financial Conduct Authority’s (FCA) client money rules. This ensures that clients’ funds are separate from Plus500’s operational funds and cannot be used for any other purpose.
- Hedging: Plus500UK Ltd uses its own money for hedging and does not use client money for this purpose. This means that the company keeps its trading activities separate from clients’ funds.
- No speculative positions: Plus500UK Ltd does not initiate speculative positions in the market, ensuring that the company maintains a responsible approach to risk management.
- No exposure to debt: Plus500UK Ltd has no exposure to corporate or sovereign debt, mitigating potential risks associated with such investments.
- FCA Regulation: Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909), which enforces strict regulatory standards to protect investors.
- Responsible investment: Plus500UK Ltd does not invest the money of retail clients, ensuring that clients’ funds are not exposed to unnecessary risks.
Plus 500 Trading Instruments
|Indices||Trade CFDs on popular global indices like USA 500, US-TECH 100, and France 40.|
|Forex||Access various currency pairs such as EUR/USD, GBP/USD, and USD/JPY.|
|Commodities||Trade CFDs on commodities like gold, silver, oil, and natural gas.|
|Shares||Access CFDs on shares of popular companies like Apple, Amazon, and Tesla.|
|Options||Trade CFDs on options contracts for select indices and stocks.|
|ETFs||Access a range of ETFs, allowing exposure to various market sectors.|
|Cryptocurrency||Not available to UK investors|
CFDs on Indices
Plus 500 offers more than 25 country indices, 5 sector indices and 5 ESG indices. You also have the option to magnify your trades with leverage of up to 1:20.
Choose from 70+ currency pairs along with advanced trading tools such as Stop Loss, Stop Limit, and Guaranteed Stop to protect your profits and limit losses.
You can also use leverage up to 1:30, meaning that with as little as £100, you can gain the effect of £3,000 capital.
Plus500 offers a platform for trading commodity CFDs with leverage on a variety of popular commodities, including gold, oil, and silver. With up to 1:20 leverage, you can start trading with as little as £100 to gain the effect of £2,000 capital.
Plus500 offers a platform for trading share CFDs from popular markets such as the USA, UK, and Germany with leverage and low spreads. With up to 1:5 leverage, you can start trading with as little as £100 to gain the effect of £500 capital.
The platform allows you to trade shares like Meta and Apple without stamp duty, saving 0.5% compared to a traditional UK share purchase. Advanced trading tools enable you to control profits and losses by predefining Stops and Limits or using the Guaranteed Stop feature to avoid slippage.
Plus500 offers a platform for trading options CFDs with leverage, allowing you to trade call and put options on assets like Germany 40, Oil, and Meta. With up to 1:5 leverage, you can start trading with as little as £100 to gain the effect of £500 capital.
Plus500 offers a platform for trading ETFs CFDs with leverage, allowing you to trade on popular Exchange Traded Funds (ETFs) like VXX Volatility and SPDRUSA500. With up to 1:5 leverage, you can start with as little as £100 to gain the effect of £500 capital. The platform provides advanced technical analysis tools and free real-time streaming quotes to help you make informed trading decisions.
Plus500 Fees and Charges
|Buy/Sell Spreads||Plus500 is compensated through the Buy/Sell (Bid/Ask) spread included in the quoted rates.|
|Overnight Funding||Added or subtracted when holding a position after the Overnight Funding Time.|
|Currency Conversion||0.7% fee for trades on instruments denominated in a different currency than your account.|
|Guaranteed Stop Order||A wider spread is applied for using this feature, which guarantees the stop loss level.|
|Inactivity Fee||$10 per month after three months of inactivity (no account login). Not suitable for buy-and-hold investors.|
|Deposit Fees||No fees are charged by Plus500 for deposits.|
|Withdrawal Fees||No fees for the first five withdrawals per month. £10 for each withdrawal thereafter.|
Plus500 Trading Platforms
Plus500 offers its own proprietary platform, Webtrader: using third-party applications like Mt4 is impossible.
The dashboard is designed with a user-friendly interface and uncluttered display, making it easy for traders to navigate and execute trades quickly. The platform allows traders to switch between demo, real money, and professional accounts, giving them the flexibility to test their strategies before trading with real money.
The platform’s price alert and notification system is one of the best features, allowing traders to set up alerts based on specific market conditions, price levels, and events.
Plus 500 Mobile App Review
I spent significant time testing the Plus500 App to see how it measures up.
Overall, it’s a reasonable app that benefits from real-time pricing and a user-friendly interface, particularly for beginners, but its functionality can sometimes be frustrating. During periods of high market activity, the app sometimes freezes or crashes, which can be quite disruptive.
Despite these concerns, the app still provides a good overall experience for those just starting out in trading and looking for a user-friendly platform to get started. But something like TD Ameritrade or Interactive Brokers is a better bet for advanced traders.
Plus500 Market Research and Educational Resources
Plus 500 offers a range of free educational materials to help traders enhance their trading skills and knowledge, including how-to videos and eBooks.
Their eBook, “Trading With Plus500,” provides comprehensive explanations about the instruments they offer, platform features, and a step-by-step trading guide. It also covers popular trading terms, from basic to advanced levels
The videos cover a variety of trading-related topics, including basic concepts of Contracts for Difference (CFD), popular trading strategies, risk management tools, margin requirements, and more. Additionally, traders can also learn about slippage, trading alerts, risk-reward ratio, types of trading charts, commodities trading, and options CFDs.
Despite this, the educational resources are thin compared to many platforms and one of Plus500’s weakest areas. Platforms like Avatrade, HYCM, and especially ActivTrades are much better in this regard.
Plus500 Customer Support
Plus500 offers 24/7 customer support via live chat or What’s APP, or email. I found them responsive to my test enquiries, with replies coming back in a few minutes.
There is no phone support which may be off-putting to some customers.
Plus500 Customer Reviews and Ratings
Plus500 has a ‘great’ score of 3.9 stars out of 5 on Trustpilot out of over 11,400 reviews.
58% awarded the platform 5 stars with reviews speaking of: “Great trading platform!”, “easy to use”, “highly informative. excellent graphs and analytics”, “best company with which I traded”, and “support team is always there when you need them.”
15% of users only awarded Plus500 1 star with complaints such as: “Bad rates. Very expensive overnight fees.”, “Poor platform.”, “Delay verification and withdrawal.”, “Their customer service is appalling.”,