Plus500 Broker Review UK

Plus500 review - logo

Plus500 is a forex broker that allows you to trade in the currency market and conduct currency trading and is one of the few public CFD brokers that is listed on the London Stock Exchange. It is regulated by a variety of international financial authorities, including high-level financial authorities such as the UK Financial Supervisory Authority (FCA).

Below is information about this broker. Please read all this information carefully and write your own opinion. It is completely free and does not force anything on you. In this guide, we will discuss the pros & cons and everything related to Plus500.

Brief Information

Plus500 is launched in 2008, the online broker Plus500 specializes in online trading of various instruments such as stocks, indices, metals, commodities, and is one of the best in forex trading. The Plus 500 is particularly well-integrated for online transactions and maintains contact with the largest international banks, providing customers with the best possible execution conditions.

Who is Plus500?

Plus500

Plus500 is a global CFD broker listed on the London Stock Exchange, founded in 2008 in Israel. It is regulated by a variety of international financial authorities, including high-level financial authorities such as the UK Financial Supervisory Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Plus500 is created by the collective efforts of six graduates, these six persons were graduated by the Israel Institute of Technology. It is now one of the few public CFD brokers and is listed on the London Stock Exchange (LSE: PLUS). At the time of writing this article (December 2021), the company has a market capitalization of £1.29 billion. Plus500 is available in more than 50 countries worldwide and is registered with several top regulators. You are the main sponsor of Club Atlético Madrid.

Plus500 review- Main Sponsor of Club Atlético Madrid.

The online broker Plus500 specializes in online trading of various stocks such as indices, metals, commodities, and currencies. The Plus 500 is particularly well-integrated for online transactions and maintains contact with the largest international banks, providing customers with the best possible execution conditions.

Trading Platform

Plus500 provides a complete trading platform with downloads and access or no downloads at the client’s choice. This is a Windows Trader or WebTrader trading platform. The platform offers a variety of tools to trade stocks, indices, commodities, and CFDs in major global markets.

Plus500 review- Trading Platform

Plus500 Review- Pros & Cons

Pros

  • Trusted Broker – Plus500
  • Free Demo Account
  • Mobile-Friendly Trading Platform
  • 2000 + 7 asset classes
  • Tradable CFDs
  • Regulated broker

Cons

  • No integration with MetaTrader 4 or 5 Lifetime
  • Withdrawals processing from 5 or more major financial institutions can take up to 7 days.
  • Limited technical analysis and automation capabilities
  • Fee $10 per month if you don’t log in for 3 months

Plus500 Tradable Instruments

Plus500 offers several instruments including forex, ETFs, indexes, shares, cryptocurrencies, and other commodities. Plus500’s trading products include the following assets:

Plus500 review - tradable instruments

Forex

To trade forex it offers 71 currency pairs . A currency pair combines two different currencies to compare the value of one currency to another. For example, EUR/USD reflects the value of the euro, measured in dollars. The top currencies are EURO, Dollar, Pound, and Franc.

Commodity

It offers 22 Commodity CFDs. Raw materials such as gold, silver, grains, coffee, tea, sugar, metals, and oil are available for commodity trading.

Shares

It offers 1,500+ CFDs on global stocks. Shares are securities that represent partial ownership of a company. When trading CFDs on stocks, remember that you are guessing the stock price without actually taking ownership of the underlying company.

Index

It offers 28 Index CFDs. An index is a commercial tool basket used to measure a market sector, a stock within a stock exchange, or a country’s economy. Some popular indexes are S&P 500, FTSE100, CAC40, NASDAQ, and DAX30.

Cryptocurrencies

It offers 14 cryptocurrencies CFDs. Cryptocurrencies like Bitcoin are digital currencies that are protected by encryption. Some popular traded cryptocurrencies are Bitcoin, Litecoin, Ripple, and Ethereum.

ETFs

It offers 104 ETF CFDs. An exchange-traded fund (ETF) is a financial instrument that tracks an index or sector and trades on a stock exchange like stocks.

Plus500 Account Types

Like all brokers, Plus500 offers a free demo account with no obligations. You can then open a real trading account for as little as 100 euros.

Plus500 offers many bonuses to its customers. Traders can start investing without a deposit thanks to the 25 euro bonus. After that, you will receive a 30% welcome bonus on your first deposit. Plus500 keeps your account options simple with three options:

  • Plus500 Demo Account
  • Plus500 Real Account
  • Plus500 Expert Account

Plus500 Demo Account

It offers a demo account that can be used by the traders to get familiarized with the trading platform and practices. The only difference between a demo account and a real money account is that you trade in a dummy fund worth $40,000. Many brokers offer demo accounts, but Plus500 stands out for three reasons:

  • You can open indefinitely.
  • You can open an account without having to open a real money account.
  • You will be ready to trade within minutes of the signup process.

Plus500 Real Account

The real accounts are almost identical to demo accounts, but you win or lose with real money. Therefore, opening a real money account requires additional steps and verification.

Opening a real Plus500 account is a very simple process. The trader is needed to deposit initial funds. The minimum required fund is £100. The real account is suitable for both beginners and experienced traders.

Plus500 Expert Account

Plus500 offers professional accounts to wholesalers who meet certain criteria. Few features of expert account-

  • Higher Maximum Leverage
  • Advanced Risk Management Tool
  • Traders can switch back to simple real money accounts at any time.

The jewel of the most advanced traders and the premium range of CFD accounts. It is suitable for expert traders. It provides access to all tools and support for business support. The minimum starting balance for this type of account is €100 and all previous benefits are withheld. You can also participate in exclusive webinars and stay informed about the most important events ahead of time.

How to open a trading account with Plus500?

Now that you know the different options, you are ready to open an account. To do this, we decided to show you step by step process of opening an account-

Step 1- Register the account

On the broker’s main page there is an orange button that says “Create Account”. Click to access the following window. You have to fill the application form. You will then have to fill out your profile further and answer a series of questions so that the broker can better understand your investment habits and level. These questions are legally required under the Know Your Customer (KYC) protocol. You must then agree to the site’s privacy policy and terms of use. You must also verify that you are not a US citizen or resident.

Registration

Step 2- Verify the account

As a regulated broker, Plus500 is required to request a review of user data. Two documents are required to verify your account.

  • ID (passport, ID, or driver’s license)
  • Proof of address (water, electricity, gas bills, landlines…). We do not charge cell phone charges.

Step 3- Deposit the funds

Click the “Deposit” tab in the main menu of your account, then click “Deposit funds to your account”. All you have to do is choose your payment method, the amount you want to deposit, and your address. Finally, you need to click on the green “Deposit” button. The minimum deposit amount on the platform is € 100 when depositing by bank card.

Step 4- Start trading

Once the funds are deposited into your Plus500 account, you need to find the market you want to trade-in. So you have two options. First, you can use the filter box on the left side of the trading screen. It is broken down into asset classes such as stocks, currencies, or commodities.

trading Plus500

Plus500 Fees

In Plus500, the spread is predetermined. So the EURUSD spread is just 2 pips, the lowest on the market. Leverage for CFDs and currencies is 1:50, which allows you to take advantage of this tool while significantly reducing your risk tolerance. The increasingly popular ETF has a leverage of 1:20.

First, let’s look at some basic terms related to brokerage fees. You need to know the commercial and non-commercial rates.

  • There is a commercial fee for trading. These can be fees, spreads, financial rates, and exchange rates.
  • Non-commercial fees include fees that are not directly related to the transaction, such as withdrawal fees or inactivity fees.

Trading Fees

Plus500’s spreads are variable, so they fluctuate slightly. The amount of the spread depends on the liquidity of the market. Liquidity refers to the degree to which a commodity can be bought and sold quickly without market movement. Narrower spreads usually appear when the market is more liquid. Let’s take the forex fees-

FeePlus500ActivTradesSpreadex
EURUSD$11.8$6.9$6.6
GBPUSD$9.8$4.9$4.5
AUDUSD$11.1$6.7$5.1
EURGBP$13.5$8.7$7.4

Non-trading fees

Plus500 has an average non-commercial rate. It doesn’t charge an extra fee. On the other hand, there is an inactivity fee of $10 per quarter after three months of inactivity. However, you can avoid paying inactivity fees by simply logging into the platform. Some other brokers require you to trade to avoid paying inactivity fees, and logging in is not enough.

FeesPlus500ActivTradesSpreadex
Account feeNoNoNo
Inactive feeYesYesNO
Deposit fee$0$0$0
Withdrawal fee$0$0$0

Deposits and Withdrawal

Plus500 allows you to top up your business account or withdraw profits at no extra cost through MoneyBookers, an alternative payment method that is as fast and secure as credit cards, bank transfers, or credit cards.

Deposit

Deposits are usually made instantly, except for bank transfers. Bank transfers can take up to 5 days due to the additional processing time of the bank itself. Like other CFD brokers, Plus500 has a variety of deposit options.

  • Wire transfer
  • Credit/Debit Card
  • Paypal
  • Skrill
  • Other e-wallets

Available e-wallet options vary by region.

Withdrawal

Withdrawals will take a little longer as Plus500 needs to verify your account to see if you can withdraw the requested amount. It depends on factors such as actual balance, margin requirements for open positions, and pending documents. There is no fee for withdrawal.

Plus500- For whom?

The Plus500 has a very user-friendly platform. So everyone can use it. Any type of trader will become familiar with the system easily. In our opinion, the Plus500 platform has access to all types of retailers.

To make it easy for everyone to orient themselves, Plus500 provides users with additional platforms that they can use at will, depending on their trading experience. These trading platforms include the well-known MetaTrader4 (MT4) and WebTrader.

MetaTrader 4 is famous for Forex trading and people are using it to make money by trading forex. The platform has gained popularity thanks to the latest trading tools it offers. On the other hand, WebTrader is very easy to use even for inexperienced traders. There is no download required and it also provides a fast system for executing orders and using Contracts for Difference (CFD). With these two platforms, Plus500 considers all traders, from beginners to the most experienced.

Plus500 Minimum deposit

The minimum deposit to start trading CFDs with Plus500 is USD 100 (or € or £ equivalent) when depositing by credit/debit card or e-wallet. For regular wire transfers, the cost is $500. Funds deposited by credit/debit card or e-wallet will appear in the merchant’s Plus500 account, usually within one day.

Plus500- Customer Services

If you have any questions about how Plus500 works, it’s best to read the FAQ first. You will surely find the answer to your concerns there. The detailed FAQ is organized by topic and full of important information.

And you need to open a ticket to contact Plus500 customer service. A representative will contact you and help you find a solution to your problem. It’s still a pity that there is no live chat or phone support. We are still just improving our Plus500 reviews, so we expect the platform to address this issue in the future.

Plus500- Research Tools

Plus500 has limited research options. It has great charting tools and its market analysis, but no recommendations, evidence, or news.

charts

Charts

The graphics tools are of excellent quality. There are 119 technical indicators and excellent editing tools. You can also save charts. This is ideal for customers looking for a variety of technical indicators. You can use the most common technical indicators like RSI, MACD, etc. We also liked the ability to use multiple charts at the same time. Click View Multiple Charts to use this feature.

News

You can see a well-designed economic calendar and market research by Plus500’s research team, but no news or bulletin boards. Here you will find a brief analysis of market events and companies. You can filter by macro events or business-related events.

Other research tools you may like

Plus500’s Traders’ Sentiment tool allows you to display Plus500’s buyer and seller ratios for each asset. It also has a ‘real-time stats’ feature that shows some data about asset prices.

In which countries is Plus500 available?

Plus500 is a global online brokerage firm with clients in almost every country! That’s why this page is available in 6 languages:

  • Spanish
  • English
  • French
  • German
  • Italian
  • Arab

Is Plus500 a secured broker?

Plus500 uses modern and strict security protocols.

  • Multiple firewalls are installed to block the path from unauthorized access.
  • 256-bit Rapid SSL encryption is used to counter hacking attempts and protect transactions and transaction data.
  • The servers that forward transactions on the platform are SAS-70 certified, a mark of high security.

Plus500 also pays special attention to the security of all transactions made on the platform. Cash withdrawals are also tightly controlled and require multiple accounts and proof of identity. So we concluded that this online broker takes its security parameters seriously.

Is Plus 500 regulated?

As a trusted and secure provider, Plus500 is approved and regulated by the Financial Services Authority (FSA) with registration number 509909. Due to this regulation, Plus500 is compliant with European Union legislation on the market for financial instruments, also known as MiFID. Investors within the European Union have the option of legal action in the event of a dispute with an online broker.

regulated platform

Final Words

Plus500 is a winner for less-experienced traders looking for ease of use and simplicity. The 2021 Plus500 is best-in-class in three categories, including ease of use, Reliable Rating, and Novice. Expert traders, on the other hand, will ask for more because research is mostly lacking and advanced tools cannot be found. For a stronger trading experience, consider eToro, IG, Libertex and CMC Markets.

With over 2,000 CFDs available (70 currency pairs of which) and a low minimum deposit to open a real account, Plus500 offers new entrants an easy way to explore the world of online trading.

Frequently Asked Questions

What is the minimum deposit for Plus500?

The minimum deposit to start trading CFDs with Plus500 is $100 when depositing by credit/debit card or e-wallet. For regular wire transfers, the cost is $500. Funds deposited by credit/debit card or e-wallet will appear in the merchant’s Plus500 account, usually within one day.

Is the Plus500 good?

Plus500 is best rated CFD Broker in the UK, Spain, and Germany in 2021. With the current customer relationship, you can analyze that it is good.

How is Plus500 regulated?

Plus500 is legally registered with competent authorities and is subject to European law. Organizations like Cysec ensure that the rules of the financial markets are strictly followed.

Do I pay taxes to my Plus500 account?

There is no tax on your Plus500 account.

How can I withdraw money from Plus500?

A minimum amount applies to Plus500 withdrawal requests. The minimum withdrawal amount for the e-wallet is $50. For bank transfers and credit cards, the cost is $100. Plus500 can take up to 3 business days to process your transaction, and banks and financial institutions can take 3-7 business days.

Is Plus500 available in the UK?

Yes, Plus500 is available in the UK.

Is Plus500 reliable?

The company is regulated and licensed by all major financial authorities, including the Financial Conduct Authority (FAC), the Australian Securities and Investments Commission (ASIC), and the Cyprus Stock Exchange (CySec).