Plus500

Plus 500 Broker Review

Founded in 2008, Plus500 has positioned itself as one of the leading brokers in the world, offering a seamless and user-friendly platform for CFD trading. Headquartered in Israel and publicly listed on the London Stock Exchange, Plus500 is a member of the prestigious FTSE 250 Index, reflecting its strong market presence. Known for providing access to a vast range of financial instruments including stocks, forex, commodities, indices, and cryptocurrencies, Plus500’s proprietary platform and commission-free trading structure make it a go-to choice for many traders.

This review takes a comprehensive look at Plus500’s offerings, from its trading platform, asset range, and trading costs, to its regulation, security, and customer support, giving you everything you need to know before trading with Plus500.

Trading Platforms

Plus500 is unique in that it uses a proprietary trading platform, rather than widely used third-party platforms like MetaTrader or cTrader. This in-house platform is designed with simplicity in mind, offering a clean interface and a seamless user experience across its web-based platform, desktop version, and mobile app.

Key Features of the Plus500 Platform:

• WebTrader: Plus500’s WebTrader is entirely browser-based, eliminating the need for downloads. Its intuitive interface allows you to quickly navigate between assets, execute trades, and manage risk with advanced tools like stop-loss, trailing stops, and guaranteed stop-loss orders. However, it lacks the deep customization features of other platforms like MetaTrader 5, which may be a drawback for traders looking for more technical analysis capabilities.
• Mobile App: Plus500’s mobile trading app has been highly rated in both the Google Play Store and Apple App Store, praised for its stability, speed, and usability. The app provides real-time quotes, mobile charting with technical indicators, and full functionality to open, manage, and close trades on the go. Traders can set price alerts and receive push notifications when markets hit predefined levels, making it one of the most comprehensive mobile trading solutions available.
• Order Types and Risk Management: Plus500 allows a variety of order types, including market, limit, stop, and trailing stop orders, giving traders flexibility in how they approach risk management. Notably, Plus500 offers guaranteed stop-loss orders (for an additional fee), which can ensure you are not exposed to significant market slippage, making it a valuable tool in highly volatile markets.

Can You Spread Bet with Plus500?

No, you cannot spread bet with Plus500. Plus500 is a well-known broker in the UK, but it only offers CFD trading on a wide variety of financial instruments, including forex, stocks, commodities, and cryptocurrencies. While Plus500 provides a comprehensive range of CFDs, it does not provide spread betting services.

If you’re looking to spread bet, our recommended broker is Pepperstone, which offers spread betting accounts and supports trading on multiple platforms, including MetaTrader 4, MetaTrader 5, and cTrader. Pepperstone is regulated by the FCA and is ideal for those looking for competitive spreads and the flexibility of spread betting in the UK.

Assets and Markets

One of the standout features of Plus500 is the extensive range of CFDs (contracts for difference) available for trading. Covering a broad array of asset classes, Plus500 provides an excellent avenue for traders looking for diversified exposure.

Asset Classes Available:

• Forex: Over 70 major, minor, and exotic currency pairs are available, including popular pairs like EUR/USD, GBP/USD, and USD/JPY. The spreads are competitive, with an average spread of 0.8 pips on major currency pairs.
• Stocks and Shares CFDs: Plus500 offers more than 1,800 stock CFDs from leading companies globally, including Amazon, Tesla, Apple, and Lloyds Banking Group. Traders can benefit from before and after-hours trading on certain US stock CFDs, which is a rare feature among brokers.
• Indices: Plus500 provides access to over 30 indices, including key global benchmarks like the FTSE 100, S&P 500, DAX 30, and Japan 225. Specialized sectoral indices like Metaverse Giants and NFT Giants also offer exposure to trending technologies and markets.
• Commodities: Trade CFDs on gold, oil, natural gas, and even agricultural products such as wheat and coffee. Plus500 offers a diversified commodities portfolio, catering to traders looking for exposure to both energy and agricultural markets.
• Cryptocurrencies: Plus500 offers cryptocurrency CFDs on popular coins like Bitcoin, Ethereum, Litecoin, and Ripple. With up to 1:2 leverage on cryptocurrencies, Plus500 provides a good way for retail traders to speculate on volatile crypto assets, though availability may vary depending on your region due to regulatory restrictions.
• Options and ETFs: Plus500 also distinguishes itself by offering over 200 options contracts and 90+ ETFs, providing further diversification for traders seeking non-traditional assets.

Fees and Trading Costs

Plus500 follows a commission-free model, where the broker’s profit is made through the spread (the difference between the bid and ask price). The spreads are relatively tight on major assets, though they can widen during periods of high volatility or illiquidity.

Key Points on Fees:

• No commissions: Plus500’s commission-free structure is a major draw for traders who wish to avoid transaction fees.
• Competitive spreads: While spreads vary, key instruments like EUR/USD often have a spread of 0.8 to 1.3 pips, making Plus500 competitive compared to other brokers. However, spreads may be higher on less liquid instruments such as exotic forex pairs or cryptocurrencies.
• Inactivity Fee: A $10 inactivity fee is charged after three months of no trading activity, which can be a disadvantage for more passive traders.
• Overnight fees: For positions held overnight, overnight financing charges apply. These fees are standard across CFD brokers, but the rates can vary depending on the asset and market conditions.

Leverage and Margin

Leverage is an essential part of CFD trading, and Plus500 offers leverage in line with regulatory requirements. For retail traders within the UK and EU, leverage is capped at 1:30 for forex trading, with lower leverage available for stock and cryptocurrency CFDs. Professional traders can apply for a higher leverage of up to 1:300, although they forfeit some of the protections granted to retail clients, such as negative balance protection.

Leverage levels by asset class:

• Forex: Up to 1:30 for retail traders, 1:300 for professionals.
• Stocks: Up to 1:5.
• Cryptocurrencies: Up to 1:2.

Traders should be cautious with leverage, as it can amplify both gains and losses. Plus500 does offer negative balance protection for retail clients, ensuring that traders cannot lose more than their initial deposit, which is a crucial safety net.

Deposits and Withdrawals

Plus500 offers a wide range of payment methods for deposits and withdrawals, with no fees on most transactions. Available payment options include:

• Credit/Debit cards (Visa, MasterCard)
• Bank wire transfers
• PayPal
• Skrill
• Apple Pay

While deposits are usually processed instantly (depending on the method), withdrawal times can be slower than some competitors, with PayPal and Skrill withdrawals taking between 3–7 working days.

Regulation and Security

Regulation is one of Plus500’s strongest aspects, providing traders with peace of mind that their funds and personal data are secure. The broker is licensed by several leading regulatory bodies:

• Financial Conduct Authority (FCA) in the UK
• Cyprus Securities and Exchange Commission (CySEC) in Europe
• Australian Securities and Investments Commission (ASIC) in Australia
• Financial Markets Authority (FMA) in New Zealand

Client funds are kept in segregated accounts, meaning that customer money is held separately from the company’s operating funds. Negative balance protection is also a feature for retail traders, preventing them from incurring losses greater than their account balance.

Educational Resources and Research

Plus500 offers basic educational resources designed to introduce new traders to CFD trading. These include video tutorials on how to use the platform and guides tocontinuation…

CFD basics and how to navigate the Plus500 platform. However, advanced traders may find the educational content somewhat limited compared to brokers that offer in-depth market research, webinars, and more comprehensive analysis tools.

The platform itself provides real-time charts with over 100 technical indicators, yet traders looking for advanced charting tools or deep technical analysis may feel somewhat restricted. Plus500 is primarily focused on making trading accessible and straightforward rather than offering the highly customizable, advanced tools found on platforms like MetaTrader.

Customer Support

Plus500 offers 24/7 customer support, available via live chat, WhatsApp, and email. While phone support is not available, the live chat is efficient, and the support team is generally helpful, providing timely and informative responses.

Their FAQ section and support hub are also comprehensive, allowing traders to find solutions to most common issues without needing to contact support directly. The fact that Plus500 supports multiple languages makes it accessible to a global clientele.

Demo Account

One of the features that set Plus500 apart is its free demo account. Unlike many brokers, the demo account has no time restrictions, allowing traders to practice indefinitely. This is especially beneficial for beginners who want to get accustomed to the platform and trading CFDs before committing real funds.

The demo mode mirrors the live market, giving traders a realistic view of market conditions. It’s easy to switch between demo and live accounts, ensuring a smooth transition when you feel confident enough to trade with real money.

Conclusion

Plus500 is an excellent choice for traders seeking a straightforward, commission-free CFD trading platform with access to a wide range of financial instruments. Its intuitive proprietary platform, along with the flexibility of mobile trading and comprehensive customer support, make it a solid option for both beginners and experienced traders.

However, advanced traders who require deep technical analysis tools or those who prefer third-party platforms like MetaTrader may find Plus500’s platform somewhat lacking. Additionally, the absence of social trading features may deter traders looking to copy strategies from more experienced professionals.

For retail traders, Plus500 offers a regulated, secure, and user-friendly environment, with features like negative balance protection and guaranteed stop orders ensuring you can trade with peace of mind. While more experienced traders may need to look elsewhere for advanced tools, Plus500 provides everything most traders need to get started, succeed, and grow in the world of CFD trading.

Author Profile

James Warwick

Director of SpreadBet & Experienced Trader at Spread Bet | Website

James is a former FTSE100 AI Director and trader with 10+ years trading his own capital. He is the Managing Director of SpreadBet.AI and currently trades his own capital through both CFD trading & spread betting as well as working with one of the leading prop firms in the world.