Plus500 Review: What You Need to Know About Trading with Plus500

Plus500 is a well-established online trading platform that offers a wide range of financial instruments for trading. It's regulated by top-tier authorities, including the Financial Conduct Authority (FCA) in the UK.

The platform is user-friendly and accessible on multiple devices, including desktops, laptops, and mobile phones. Plus500's website and mobile app are designed to provide a seamless trading experience.

To get started with Plus500, you'll need to create an account and deposit funds into your trading account. The minimum deposit requirement is $100, which is relatively low compared to other trading platforms.

Plus500 offers a variety of trading tools and features, including technical indicators, charts, and market analysis. These tools can help you make informed trading decisions and stay ahead of the market.

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Plus500 offers a range of account types, but it's essential to note that they don't provide tax-advantaged accounts such as ISAs or SIPPs.

The available account types are explained below, but one thing to keep in mind is that scalping is not allowed on the CFD Account. This means that you won't be able to execute multiple trades in a short period of time.

The CFD Account is the standard account for UK residents, offering access to a range of financial instruments with a maximum leverage of 1:30 on forex. There's no commission and no stamp duty, but profits from CFD trading are subject to Capital Gains Tax.

Here are the key features of the CFD Account:

If you're an experienced trader, you may be eligible for a Professional Account, which offers higher leverage levels up to 1:300. This account type provides access to all the same instruments as the regular account with the addition of crypto CFDs.

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The CFD Account is a standard account for UK residents that allows trading of CFDs on various assets. You'll have access to indices, forex, commodities, shares, options, and CFDs, with a maximum leverage of 1:30 on forex.

No commission or stamp duty is charged, but profits from CFD trading are subject to Capital Gains Tax. It's essential to keep this in mind when trading.

Scalping is not allowed on this account, and research offerings are limited. You won't find a real newsletter or trading recommendations to rely on.

Here are some key features of the CFD Account:

Plus500 offers a VIP account, called the Premium Service Package, which provides exclusive perks like a dedicated client manager and premium customer support.

The broker hand-picks valued clients and invites them to become premium customers, but the requirements to join this tier are not revealed.

These perks are mainly for show and don't bring significant additional value to the client, so users who don't get invited don't miss out on much.

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Plus500 offers a range of features to help traders make money, including charting tools with 13 charting tools and over 100 indicators.

The platform's charting tools are quite impressive, with a wide range of indicators and drawing tools to help traders identify and capitalize on patterns and trends.

Plus500 also offers market news, alerts, and an economic calendar to help traders prepare for important economic data.

Here are some of the key features of Plus500's trading tools:

These features can be accessed through the Plus500 app, which provides advanced charting tools, including all the same chart styles, time intervals, drawing tools, and 110 indicators as the web platform.

Leverage is a powerful tool that can amplify your trading gains, but it also comes with increased risk. Plus500 offers leverage on all their trades, and the maximum amount allowed varies by the asset type.

You can use leverage to trade with more money than you actually have in your account, effectively using money from the broker to increase the amount you can trade with. This can be done with a leveraged trade, where you borrow more cash to place a trade with.

The maximum leverage you can use with Plus500 varies depending on the asset class, as shown in the table below.

For example, if you want to invest £50 on a trade, predicting the price of the share is going to go up in value, and you are pretty confident, so want to use 5x leverage. With a leveraged trade you could make a trade worth £250, rather than £50.

However, it's essential to note that leverage can not only magnify your profits, but losses as well. Trading with wider leverage levels is also much riskier and can lead to bigger losses.

The Plus500 platform is intuitively designed, making it ideal for advanced users.

Plus500's charting tools are great, providing a clear visual representation of market data.

The platform has a variety of stop order types, giving you more control over your trades.

You can also use the platform's real-time data to make informed decisions.

Plus500 offers essential risk management tools like stop-loss and take-profit options.

The platform's unlimited demo account allows you to practice trading without risking real money.

This feature is especially useful for beginners who want to test their strategies before investing.

Check this out: Trading on Plus500

Plus500's market research features are a great way to stay informed about market trends and news. The platform has a news and market insights section where you can find important market news reasonably regularly.

The economic calendar is another useful tool that displays upcoming economic events, including their expected impact, related instruments, and actual, forecast, or previous figures.

You can also find market news and insights on the Plus500 website, which is a great resource for staying up-to-date on market trends.

Here are some of the key features of Plus500's market research tools:

Plus500 offers a range of charting tools, including 13 different charts and over 100 indicators, to help traders identify and capitalize on patterns and trends.

You can personalize your charts with more than a dozen chart types and more than 20 drawing tools. Plus, you can save your chart layouts so you can easily return to them in your next trading session.

One of the standout features of Plus500's charting capabilities is the multiple charts view, which lets you monitor up to 9 different charts on the same screen.

Plus500's mobile app also provides advanced charting tools, including all the same chart styles, time intervals, drawing tools, and 110 indicators as the web platform.

The app doesn't have a multi-charts view for looking at instruments side-by-side, which is understandable on a small mobile screen.

You can create a market order or switch to a limit order by expanding the Advanced section and selecting 'Buy (or Sell) when rate is'. You can also add a stop loss to your order or a stop limit.

Plus500 offers several risk management tools, including stop-loss orders, guaranteed stop-loss orders, and trailing stop-loss orders.

Here are some of the order types available on Plus500:

You can also use leverage to trade with Plus500, which can help you make more money. Plus, you can set a trailing stop to help increase your profits.

If you want to use the guaranteed stop feature, you'll pay an extra fee within the spread.

Spread is a crucial aspect of trading with Plus500, and understanding how it works can help you make informed decisions.

The spread fee is a small markup added to the price of an asset when you buy or sell, and it's how trading platforms like Plus500 make most of their money. This fee varies across assets and depends on the volume of trades for that particular asset.

You'll see the spread fee within the platform when researching an asset, and it's shown when you make a trade. For instance, some forex fees can be as low as 0.6 pips (0.00006).

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Dynamic spreads at Plus500 are constantly adjusted to match the market spread, even for open positions. This means that the spread can change throughout the day.

Fixed spreads, on the other hand, are not adjusted during an open position period but may periodically be adjusted to better match market conditions.

Here's a breakdown of the minimum spreads you can expect to be charged at Plus500:

Keep in mind that these are the minimum spreads, and actual fees may be higher depending on market conditions.

Plus500 offers an impressive range of CFDs across various asset classes. With over 2,800 different investments to trade, you'll have plenty of opportunities to diversify your portfolio.

You can trade indices, including country and sector indices, as well as forex, commodities, individual shares, ETFs, and options. Plus500 also offers cryptocurrencies, although their availability is subject to regulation.

Here's a breakdown of the different asset classes available on Plus500:

It's worth noting that the call and put options CFDs on Plus500 are cash settled, meaning you don't have the right to exercise the trade on the underlying asset.

With Plus500, you can trade a wide range of investments, including over 2,800 different CFDs. This is a huge selection, covering various asset classes such as stocks, ETFs, commodities, and foreign exchange.

You can trade CFDs for almost every asset type, giving you plenty of options to choose from. Plus500 also offers a demo account, perfect for practicing your trading skills without risking real money.

One thing to note is that Plus500 is a CFD-only trading broker, which means you won't find a wide range of other trading instruments here. However, the CFDs available are still impressive, with leverage of up to 1:30.

You can trade commodities such as gold, silver, oil, and gas, as well as ETFs of certain commodities. This gives you a good range of options to speculate on the price movements of these assets.

Here's a quick rundown of the investment options available with Plus500:

The service experience at Plus500 is generally very positive. The platform is reliable, with real-time data and a range of trading options available.

You can contact the customer support team through online chat, email, or WhatsApp, although it's worth noting that phone support is not available. However, the support team is available 24/7, which is a big plus.

Plus500 has a strong online reputation, with a 4.1-star rating on Trustpilot and a 4.3-star rating on Google Play. Reviewers praise the platform's intuitive interface, prompt customer support, and demo account.

Plus500 offers a reliable experience for traders, with a platform that's straightforward to use and navigate. The platform is designed with simplicity in mind, providing the most important information on the home screen and making it easy to get started with trading.

The platform is available on both desktop and mobile devices, with the Plus500 app offering a seamless trading experience on-the-go.

Plus500's customer support is also highly rated, with a 4-star rating on Trustpilot and a 4.3-star rating on Google Play. Reviewers praise the platform's intuitive design, prompt customer support, and demo account.

Here are some key features that contribute to a reliable experience with Plus500:

Overall, Plus500's reliable experience makes it a great choice for traders who want a hassle-free trading experience.

Our team of experts spent six months evaluating all aspects of online brokers' platforms, collecting over 3,000 data points to inform our ratings.

We developed a rating scale based on our criteria, which includes the user experience, trade executions, products available, costs and fees, security, mobile experience, and customer service.

Plus500's security features are designed to protect your account and funds. Logging into your account is safe and supports two-factor authentication and biometric authentication on mobile devices.

You can enable login through Facebook or Apple, as well as with your email, if you prefer. Plus500 also offers notifications of logins, so you can stay on top of your account activity.

The company acts as principal and hedges its exposure with its parent company to eliminate market risk. Plus500 is registered with regulatory authorities throughout Europe and the Asia-Pacific region.

Here are some of the regulatory bodies that oversee Plus500:

In the event that Plus500 defaults, any shortfall of funds up to £85,000 may be compensated for under the Financial Services Compensation Scheme (FSCS). Plus500 also offers negative balance protection, which ensures that clients cannot lose more than they have put into their accounts.

The platform is designed to safeguard client money and assets, with funds held in segregated accounts at regulated banks. Plus500 also provides a timer that will log you out of both the web-based and mobile applications if they are not being used.

Plus500 is a FTSE 250 company, which means it's one of the largest 250 companies listed on the London Stock Exchange (LSE). The company is also authorised and regulated by the Financial Conduct Authority (FCA) in the UK, with a firm reference number of 509909.

If you're not happy with a certain aspect of the Plus500 platform, some of the best alternatives to consider include IG, which offers an excellent platform with superior trading tools and educational materials.

IG provides access to a wider range of available assets to invest in, making it a great option for those looking to diversify their portfolio.

If you're looking for market variety, Interactive Brokers (IBKR) is a better alternative, offering access to 135 markets in 33 different countries.

Some of the top alternatives to Plus500 include:

Keep in mind that each of these alternatives has its own strengths and weaknesses, so it's essential to research thoroughly before making a decision.

If you're not happy with a certain aspect of the Plus500 platform, some of the best alternatives to consider include IG, which offers an excellent platform with superior trading tools and educational materials. IG also provides access to a wider range of available assets to invest in.

Interactive Brokers is another option, offering access to 135 markets in 33 different countries, making it a better alternative for those seeking market variety. This makes it a great choice for traders who want to diversify their investments.

If you're a beginner, eToro is an excellent user-friendly platform that's popular with new traders. It's a great option for those who want to start trading without feeling overwhelmed by complex features.

Here's a comparison of some of the best alternatives to Plus500:

Note that spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Always research thoroughly before making a decision.

eToro is considered better than Plus500 based on our analysis, scoring higher overall in all categories.

I've been testing each broker for years, and both have improved significantly over the past decade.

eToro has a higher overall score, but Plus500 has some aspects that are better than eToro.

In this guide, I'll share my findings to help you decide which platform is right for you.

Plus500 offers a comprehensive product line of CFDs, including forex, stock indices, individual shares, commodities, ETFs, options, and cryptocurrencies, available in over 50 countries subject to regulation.

Their trading platform has a simple and easy-to-use interface that lets you create watchlists, analyze charts, and place and monitor trades.

Plus500 is regulated by the FCA, a reputable government-backed agency that ensures fair market practices for both individuals and businesses.

Guaranteed stop loss orders are available on some instruments, but they are subject to a wider spread.

Negative balance protection is also available, ensuring that clients cannot lose more than they have put into their account.

Here are some of the key pros of using Plus500:

In contrast, some of the cons of using Plus500 include:

Overall, Plus500 offers a solid trading experience with a good range of investment options, low costs, and a trustworthy platform.

Plus500 generates its revenues from customer trades that "cross" the bid/ask spread, which is competitive within the industry.

The company doesn't charge commissions on any client transactions, but you will pay a spread fee on each unit. The spread fee is stable with trade size.

You'll also be charged a premium, effectively a financing charge, on positions held overnight by clients. This fee may be subject to currency conversion charges if you trade in a currency other than your account's base currency.

Plus500 charges a currency conversion fee of 0.7% if you trade assets in another currency, but only on the net profit (or loss) of your trade, not the total value of your position.

If you use the guaranteed stop feature, you'll pay an extra fee within the spread. You'll see the higher fee when you set the stop.

After 3 months of no activity, you'll begin being charged $10 per month. However, if you log back in at some point, the 3 months starts again.

You can use guaranteed stops to eliminate the risk of the price moving past the price you set, but it will cost a bit extra, which is covered in a higher spread fee.

Plus500 has an impressive user base of over 24 million registered customers worldwide, who conduct transactions exceeding 2 million US dollars every month.

The platform boasts an impressive 2,000 total markets, including 64 forex pairs, 22 commodities, and 39 indices.

Plus500 has a strong presence in the UK, with 107 UK stocks available for trading, and in the US, with 993 US stocks available for trading.

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The company's financial results for 2022 show significant growth, with revenue reaching $832.6 million, a 16% increase from the previous year.

Here are some key statistics from Plus500's financial highlights:

Plus500's net profit also showed substantial growth, increasing from $310.6 million in 2021 to $370.4 million by December 2022.

The company has over 280,769 active clients, and its customer base growth is a testament to its success.

Plus500's advanced risk management system helps ensure that traders have access to a secure and regulated trading environment, with strict Know Your Customer (KYC) protocols, anti-money laundering (AML) measures, and robust risk management tools.

Plus500 clearly targets those who are looking for an interface for executing trades without the need for advanced functionality.

The broker's spreads are competitive, which keeps costs low, and the proprietary WebTrader platform is intuitively functional.

Clients of Plus500 U.K. have the additional security of regulation by the Financial Conduct Authority.

Not providing MT4 as an alternate platform, and no auto-trading make this broker unsuitable for technically oriented traders.

The online reputation of Plus500 is generally positive, with an overwhelming majority of users reporting they are happy with how the platform works on computer and mobile devices.

Plus500 has a score of 4.1 out of 5 on Trustpilot, based on over 13,000 reviews, which is a great score for a financial services company.

Lots of reviews mention how good the trading software is, alongside the great mobile app, and the reasonable fees and great customer service.