Plus500 Trading Platform Review

Join the ranks of over 30 million customers from 60+ countries who have chosen Plus500, a leading online broker, to access 2,800+ leveraged instruments across various asset classes. With a proprietary trading platform and features like +Insights and advanced risk management tools, Plus500 empowers traders to make informed decisions. Enjoy commission-free trades, free and unlimited demo trading, and fast withdrawals, all backed by robust regulation in multiple jurisdictions. Discover a world of trading opportunities with Plus500, a publicly traded company and a constituent of the FTSE 250 Index.

Plus500 Contact Information

Highlights of Plus500

• 26+ million registered accounts from 60+ countries: This vast and diverse customer base is a testament to Plus500’s global reach and reputation as a reliable online trading platform.
• Over 2,800 leveraged instruments across various asset classes and commission-free pricing: The extensive selection of tradable instruments, which includes indices, forex, commodities, and more, offers users the flexibility to diversify their portfolios and explore different markets. Additionally, the lack of commissions on trades provides a straightforward way to calculate trading costs.
• Proprietary trading platform: Plus500’s proprietary platform is designed to provide a seamless and intuitive trading experience, with features and tools tailored to meet the specific needs of its users, allowing for faster and more efficient trading.
• Advanced tools and features (Trading Academy; News & Markets Insights; + Insights; risk management tools; alerts): These advanced tools and features are designed to help users make informed trading decisions, with resources like the Trading Academy providing educational support, and features like Risk Management Tools and Alerts enabling users to manage risk and stay up-to-date with market developments.
• Free and unlimited Demo trading: The free and unlimited demo trading feature allows users to practice and refine their trading strategies in a risk-free environment, using virtual funds to simulate real-world trading scenarios and build confidence before transitioning to live trading.

Advantages and Disadvantages of Plus500

Available Markets at Plus500

We will now examine Plus500’s diverse range of financial markets, which are sure to attract the attention of UK traders. The platform offers a cutting-edge trading experience and provides access to a wide array of multi-asset CFDs, including some of the world’s most popular markets.

Crypto

The Crypto market is a rapidly evolving space, and Plus500 allows traders to tap into this excitement with ease. With a wide range of top digital coins available, including Bitcoin, Ethereum, and approximately 20 more altcoins, traders can access the Crypto market around the clock without needing a digital wallet. Crypto-asset CFDs are not available to UK retail clients due to Financial Conduct Authority (FCA) rules. However, professional cleints can trade crypto-asset CFDs on major coins such as Bitcoin and Ethereum, along with a plethora of altcoins. Trading is conducted on a margin/CFD basis with variable spreads, the ability to go long or short, and no need for a wallet. Leverage is also available to Professional account holders, allowing them to trade crypto assets with leverage of up to 1:20.

Plus500 makes it straightforward to trade crypto CFDs, allowing users to capitalise on the market’s volatility and profit from rising and falling prices. The broker provides extensive information on what moves cryptocurrency prices, which equips traders with the necessary knowledge to benefit from the digital assets.

• Trade top digital coins like Bitcoin, Ethereum, and Litecoin with without needing a digital wallet.
• Access Crypto CFDs around the clock, allowing for flexible trading.
• Leverage the volatility of the crypto market to maximise gains.
• Stay up-to-date with real-time quotes and competitive spreads.
• Implement risk management tools such as Stop Loss or Take Profit.

Indices

Plus500’s global Indices CFDs offer a world of opportunity for traders, allowing them to track the performance of a group of financial assets with ease. With leverage available, traders can amplify their potential gains in the Indices market, which includes renowned indices like the UK 100, S&P 500, Nasdaq 100, as well as some Sector Indices like NYSE FANG+ Index, Real Estate Giants Index, and more. This provides a diverse range of trading opportunities, enabling users to tap into global markets.

• Tap into global markets with CFDs on renowned indices like the UK 100, S&P 500, and Germany 40.
• Assets are conveniently organised into Country Indices and Sector Indices, allowing traders to find the instrument they are interested in quickly and easily.
• Utilise leverage to amplify potential gains in the Indices market.
• Track the performance of a group of financial assets with ease and diversify risk, as indices provide wider exposure compared to individual stocks.
• Stay informed with real-time quotes and fast order execution.

Forex

The Forex market is one of the most liquid and widely traded markets in the world, and Plus500 provides access to a vast range of Forex major, minor, and exotic CFD pairs (65+), including major currency pairs like EUR/USD, GBP/USD, and USD/JPY. With competitive spreads and fast order execution, traders can capitalise on market movements with confidence. Plus500’s informative Economic calendar also helps traders stay ahead of market events that can impact currency prices. The maximum leverage UK traders can unlock when trading major Forex pairs is capped at 1:30. Pro accounts, however, can unlock significantly higher leverage ratios that may go as high as 1:300.

• Trade major currency pairs like EUR/USD and GBP/USD with competitive spreads.
• Stay ahead of market events with Plus500’s informative Economic calendar.
• Plus500’s free risk management tools help traders manage risk.
• Leverage the liquidity of the Forex market to maximise gains.
• Set Forex Trading Alerts.

Average Forex Spread at Plus500

Commodities

Plus500’s Commodities CFDs offer traders the opportunity to tap into the performance of popular assets like gold, silver, oil, and natural gas. By trading these CFDs, users can speculate on the price movements of these commodities, which are often influenced by supply and demand. With leverage available, traders can amplify their potential gains in the Commodities market, making it an attractive option for those looking to diversify their portfolios.

• 28 Commodity CFD markets available for trading.
• Access a range of commodities CFDs, including agricultural commodities, energies, metal commodities, and livestock.
• Utilise leverage to amplify potential gains.
• Trade with confidence, using real-time quotes and competitive spreads.

Shares

Plus500’s Share CFDs allow traders to buy or sell shares in some of the world’s most renowned companies, including Apple, Microsoft, NVIDIA, and more. By trading these CFDs, users can speculate on the price movements of these shares, without actually owning the underlying asset. This provides a flexible and convenient way to tap into the performance of top companies, enabling traders to capitalise on market shifts and seize opportunities as they arise.

• Buy or Sell Share CFDs on top companies like Apple and Tesla.
• Learn Share Trading Strategies and Tips through Plus500 Articles.
• Follow market shifts and take advantage of opportunities as they come up through related news and market insights.
• Plus500’s Share CFDs markets are conveniently organised by country, with some of the UK’s Share CFDs available for trading: Rolls-Royce, BP, Lloyds Banking Group, and Burberry.
• Leverage the potential of the Shares market to maximise gains.

Options

Plus500’s Options CFDs offer traders the ability to speculate on the price movements of underlying assets like UK 100, Oil, and Meta at predetermined prices within a specific period. By buying or selling call and put Options CFDs, users can amplify their gains or protect against large losses. This provides a flexible and convenient way to trade on both rising and falling markets, making it an attractive option for those looking to diversify their portfolios.

• Options CFDs derive value from the underlying assets, which could be stocks, bonds, currencies, or commodities.
• Options contracts grant holders the right, but not the obligation to buy or sell assets at a predetermined price on or before a specific date. Therefore, Options CFD trading can be utilised not only for generating profits but also for speculative trading and hedging against risk.
• Utilise leverage to amplify potential gains in the Options market.
• Plus 500 step-by-step guide to trade options: open a trading account, research chosen options, predict strike price, and determine the timeframe.
• Plus500 provides CFD Options Trading Tips, further articles on options trading, related news and market insights.

ETFs

Plus500’s portfolio of ETF CFDs provides traders with access to a broad spectrum of markets, including popular Exchange Traded Funds like Bitcoin ETFs, iShares Silver, and Commodity Index Fund. By trading these CFDs, users can gain exposure to a diverse range of assets, leveraging the potential of these markets to amplify their gains. This makes ETF CFDs an attractive option for those looking to diversify their portfolios and capitalise on market opportunities.

• Explore popular Exchange Traded Funds (ETFs) like Bitcoin ETFs, iShares Silver, and Commodity Index Fund.
• Plus500 Guides on Bitcoin and Ethereum ETFs, single-stock leveraged ETFs, REIT ETFs.
• Access a diverse range of ETF CFDs, including stock ETFs, index ETFs, sector ETFs, commodity ETFs, and more.
• Related news and market insights on ETF trading.
• Utilise leverage to amplify potential gains.

Trading Costs at Plus500

When trading with Plus500, it’s essential to understand the various costs associated with using their platform. The broker’s primary source of income is through the buy/sell spread, which is incorporated into the quoted rates. Additionally, Plus500 charges overnight funding rates, currency conversion fees, and administrative fees on swap-free accounts. The broker also offers guaranteed stop orders, which come with wider spreads. In terms of non-trading costs, Plus500 charges withdrawal fees under specific circumstances. Otherwise, the broker does not impose additional fees on incoming and outgoing transactions.

Spreads

Plus500’s main source of compensation is through the difference between the buy and sell prices, known as the spread. This spread is already included in the prices quoted by Plus500, so traders won’t see it as a separate charge. To view the spread for a specific instrument, log in to the platform, search for the instrument, and click on the Details icon. This shows the cost of trading with Plus500. The spread is essentially the cost of trading, and it’s a key factor to consider when choosing a broker.

Swap Rates / Overnight funding rates

When traders hold a position overnight, they may be charged or credited with an overnight funding amount. This amount is calculated based on the size of the trade, the opening price, the point value, and the overnight funding rate. The overnight funding time and percentage can be found in the “Details” link next to the instrument’s name on the trading platform. This fee is essentially a charge for holding a position overnight, and it can either be added to or subtracted from the account. It’s essential to understand these rates, as they can affect trading costs.

In the table below, traders can find information on Plus500 overnight funding rates. Please, note that these rates are subject to change and can be found in the “Details” link next to the forex pair name on the main screen of the trading platform.

Currency Conversion Fee

If users trade instruments denominated in a currency different from the currency of their base account, Plus500 will charge a currency conversion fee. This fee is up to 0.7% of the trade’s realised net profit and loss and is reflected in real-time in the unrealised profit and loss of an open position. This fee is designed to cover the costs of converting funds, and it’s a common practice among brokers.

Guaranteed Stop Order

Plus500 offers guaranteed stop orders, which allow users to set a specific price at which the position will be closed. However, using GSOs comes at the expense of wider spreads. Clients can find additional information on calculating their GSO fees in the broker’s Forex Key Information Document. By enabling a Guaranteed Stop Order, traders’ positions will close automatically at their preferred price regardless of market conditions and volatility. The GSO protects users against further mounting losses should the markets move in the opposite direction. Alternatively, the feature enables traders to lock in a specific profit when the prices move in the desired direction.

Non-trading fees

Plus500 charges various non-trading fees, including withdrawal fees and inactivity fees. Deposits and account opening incur no extra charges.

• Deposit fees: Plus500 does not charge deposit fees, making it free to fund the account.
• Withdrawal fees: Plus500 charges $10 (or equivalent) for withdrawal below the minimum amount, and $10 (or equivalent) after the fifth withdrawals in a month, and $6 (or equivalent) for international bank transfer withdrawals.
• Account opening fees: Plus500 does not charge account opening fees, making it free to open an account.
• Inactivity fees: Plus500 charges $10 (or equivalent) per month after three months of inactivity. These fees are designed to encourage traders to remain active and to cover the costs of maintaining inactive accounts.

Trading Platforms Supported by Plus500

The Plus500 WebTrader platform is a user-friendly and feature-rich online trading platform designed to cater to the needs of both new and experienced traders. At the core of the platform is a proprietary technology that enables seamless and efficient trading experiences. Here’s an in-depth look at the key features that make the Plus500 WebTrader stand out:

1. Watchlists: The watchlist feature on the Plus500 WebTrader allows traders to create and manage personalised lists of their favourite assets, including stocks, currencies, commodities, and indices. This enables traders to keep a close eye on market movements, track trends, and make informed trading decisions.
2. Economic Calendar: The economic calendar is a valuable resource integrated into the Plus500 WebTrader platform. It provides traders with a comprehensive schedule of upcoming economic events, including news releases, monetary policy decisions, and other market-moving announcements. By staying informed about potential market catalysts, traders can anticipate and prepare for potential market volatility, making it an essential tool for strategic trading.
3. Signals: The Plus500 WebTrader platform offers alerts and insights, which provides traders with real-time market insights and potential trading opportunities. These signals are generated based on technical analysis and market trends, helping traders identify potential entry and exit points. By leveraging these signals, they can make more informed decisions and stay ahead of the market curve.
4. +Insights: The +Insights feature on the Plus500 WebTrader platform offers traders in-depth market analysis, news, and commentary from experienced market professionals. This feature provides valuable context and perspective on market trends, helping traders understand the underlying drivers of market movements. By staying informed with +Insights, traders can refine their trading strategies and make more informed decisions.
5. Alerts: The alert system on the Plus500 WebTrader platform enables traders to set custom notifications based on specific market conditions, such as price movements, economic events, or technical indicators. This feature ensures that traders are informed in real-time, allowing them to react promptly to changing market conditions and capitalise on potential trading opportunities.
6. Advanced Risk Management Tools: Trailing Stops and Guaranteed Stop Loss: The Plus500 WebTrader platform includes advanced risk management features, such as trailing stops and guaranteed stop loss orders. Trailing stops allow traders to lock in profits by automatically adjusting the stop loss level as the market moves in their favour. Guaranteed stop loss orders, on the other hand, ensure that trades are closed at a specified price level, regardless of market volatility, providing an additional layer of risk protection. These features help traders manage their risk exposure and protect their investments. While an extra spread applies to the Guaranteed Stop order, the Trailing Stop order incurs no additional fees.
7. Clean User Interface: The Plus500 WebTrader platform boasts a clean and intuitive user interface, making it easy for traders to navigate and utilise the platform’s features. The interface is designed to be free from clutter, ensuring that traders can focus on their trading activities without distractions. This user-friendly design is particularly beneficial for new traders, as it helps them quickly become familiar with the platform and start trading with confidence. Traders can easily switch to a real trading account when they feel confident enough.

In summary, the Plus500 WebTrader platform is a powerful and versatile trading solution that combines advanced features with a user-friendly interface. Whether users describe themselves as a seasoned trader or just starting out, the platform’s extensive range of tools and features is designed to support trading goals and help users navigate the markets with confidence.

Mobile Trading at Plus500

The Plus500 mobile trading platform is a highly-regarded and user-friendly app, available for download on both Google Play and the App Store. With an impressive rating of 4.5 out of 5 stars on Google Play and 4.4 out of 5 stars on the App Store, it is clear that users appreciate the app’s balance of simplicity and advanced features. The app supports over 30 languages, including English, German, French, Arabic, and more, making it accessible to a wide range of traders.

In terms of trading capabilities, the app offers an extensive selection of over 60 forex pairs. Additionally, the app prioritises security with features like biometric authentication and two-factor authentication, providing users with an extra layer of protection for their accounts. Overall, the Plus500 mobile trading app is a powerful and reliable tool for traders on-the-go.

Account Types Available at Plus500

Plus500 offers a range of account options to cater to different trading needs and goals. For most traders, the standard retail CFD account is a great starting point, with a leverage limit of 1:30. However, for more experienced and serious traders, the Professional account offers enhanced benefits, including higher leverage of up to 1:300, cash rebates, and improved execution. To qualify for a professional account, traders must meet at least two of the three specified criteria, which include a significant trading history, a substantial portfolio, or professional experience in the financial sector for at least one year.

In addition to live trading accounts, Plus500 offers a demo account, which allows traders to practice and test their strategies with virtual funds. This is a great way for new traders to familiarise themselves with the platform and for experienced traders to try out new techniques without risking real money.

In terms of accessibility, Plus500 has a relatively moderate minimum deposit requirement of $/€100, making it easier for new traders to get started. While some brokers may have higher or lower requirements, this amount is generally considered reasonable. Once registered, traders can access a diverse range of markets, including forex pairs, commodities, shares, options, and ETFs. Overall, Plus500’s account types and features are designed to accommodate traders of varying levels of experience and expertise, making it a versatile and attractive option for those looking to trade online.

Customer Support at Plus500

Plus500 prioritises customer support, providing a range of convenient and accessible channels for traders to reach out and receive assistance. The support team is available 24/7 through the live chat feature, allowing traders to quickly resolve any issues or questions they may have.

In addition to live chat, Plus500 also offers support through WhatsApp, providing a familiar and user-friendly platform for traders to communicate with the support team. For more formal inquiries or issues that require a more detailed explanation, traders can use the “Contact Us” form on the Plus500 website. This form allows users to provide their name, email, and a description of their query, as well as upload any relevant files or documents.

Plus500 is also active on various social media channels, including Facebook, X, Instagram, LinkedIn, YouTube, and Telegram. Traders can reach out to the support team through these channels, or simply stay up-to-date with the latest news, market analysis, and platform updates. The social media presence of Plus500 demonstrates the company’s commitment to engaging with its customers and providing a supportive community for traders.

Overall, the support channels offered by Plus500 are designed to be flexible and accommodating, allowing traders to choose the method that best suits their needs and preferences. Whether it’s a quick question or a more complex issue, the Plus500 support team is available to provide assistance and help traders get the most out of their trading experience.

Regulatory Background and Compliance

Plus500 has established a strong reputation for regulatory compliance, with a robust framework that spans multiple jurisdictions and allows the broker to operate in over 50 countries. This rigorous regulatory environment has enabled Plus500 to attract a vast customer base of over 26 million registered users, who can trade with confidence knowing that their investments are protected by some of the world’s most respected regulatory bodies.

In particular, British traders can benefit from the broker’s authorization and regulation by the Financial Conduct Authority (FCA), which provides an additional layer of security and protection. As an FCA-regulated entity, Plus500 UK Ltd offers customers the assurance of FSCS (Financial Services Compensation Scheme) protection, which provides compensation of up to  £85,000 in the event of the broker’s insolvency.

But Plus500’s regulatory credentials don’t stop there. The broker has also obtained licences from an impressive array of a dozen additional regulators, including the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). This extensive regulatory footprint demonstrates Plus500’s commitment to transparency, accountability, and customer protection, and provides traders with the peace of mind that comes from knowing they are working with a reputable and trustworthy broker.

Client Security at Plus500

At Plus500, the security and protection of client assets are of utmost importance. To ensure the confidentiality and integrity of client data, the company employs advanced SSL encryption technology, which creates a secure and encrypted connection between the client’s device and the Plus500 servers. This means that all sensitive information, including personal and financial data, is safeguarded against unauthorised access.

Plus500 also offers a range of measures to protect retail clients from potential losses. For example, the company provides negative balance protection, which prevents clients from incurring losses that exceed their account balance. This means that clients are not liable for any debts or losses that may arise from trading activities.

To maintain transparency and security in its communication with clients, Plus500 has established a formal process for interacting with customers. All communication is conducted in writing, typically via email or live chat, to ensure that there is a clear and permanent record of all interactions. To initiate contact with Plus500, clients can submit a request form on the company’s website, which will then be responded to via email. This approach helps to prevent unauthorised or unsolicited approaches, and ensures that clients can trust the authenticity of any communication they receive from the company.

As a responsible and transparent broker, Plus500 is also required to disclose the risks associated with trading CFDs. Following regulatory requirements, the company publishes a risk disclosure statement, which highlights the potential risks and losses associated with CFD trading. This statement serves as a reminder to clients that CFDs are complex and high-risk instruments, and that a significant proportion of retail investors may lose money when trading these products. By providing this information, Plus500 aims to educate and inform its clients, and to encourage them to trade responsibly and within their means.

What UK Traders Say about Plus500?

As of publication, traders have shared their experiences with Plus500 on Trustpilot, with a total of 15,088 customer reviews and an overall score of 4.0 out of 5 stars. Please note that these numbers and ratings are subject to change and are accurate only at publication.

Many of the positive reviews praise Plus500’s convenient deposit and withdrawal options, excellent customer service, and user-friendly trading platform. The demo account and educational resources have also been commended for helping traders to improve their skills and make informed decisions.

On the other hand, some negative reviewers have expressed concerns about the risks associated with trading, with some comparing it to gambling. Additionally, some reviewers have reported issues with the support staff, which has impacted their overall experience with the platform. However, it’s worth noting that the overall sentiment towards Plus500 on Trustpilot is generally positive, with many traders expressing satisfaction with the company’s services and features.

Conclusion

Plus500 stands out as a globally recognised broker, offering UK traders access to over 2,800 instruments, including forex, indices, and commodities, under robust regulation from the FCA. Its proprietary platform, featuring tools like +Insights and real-time alerts, simplifies trading while commission-free pricing and unlimited demo accounts appeal to both novices and seasoned traders. Despite lacking MetaTrader integration and slightly higher spreads, Plus500’s strengths – such as rapid withdrawals, comprehensive risk management features, and status as a publicly traded FTSE 250 firm – solidify its credibility.