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With over 26 million registered users, Plus500 is one of the most popular trading platforms in the world. Our team wanted to know what the hype behind this provider is, so we visited the official site and registered. Several aspects impressed us from the get-go. For starters, this broker has a simple, user-friendly interface.
We also love and highly recommend Plus500 because it allows users to try the free demo account and real-time insights. Most importantly, the Plus500 trading platform is authorized & regulated by the FCA (#509909) in the UK. It’s also authorized and governed by numerous additional bodies, including ASIC, CySEC, and the FSCA.
In This Guide
Our Opinion about Plus500
Our experts faced no difficulties while evaluating this broker and opening a new account. And we had an easy time finding the right instrument to trade. That is because Plus500 has thousands of tradable instruments, including CFDs on currency pairs, commodities, and shares.
But before you join Plus500, here’s a list of the pros and cons we discovered during our exploration. See if they align with your trading goals and expectations.
Plus500
✔User-friendly interface
✔Zero deposit and withdrawal fees
Pros & Cons
Pros
- Licensed and authorized by the FCA and other international authorities
- Zero deposit and withdrawal fees
- User-friendly interface
- 2800+ CFDs spread across different assets
- Quick customer support available 24/7
- Top-range security measures and protocols, including SSL and 2FA
Cons
- Mostly offers CFDS
- Investing in futures and shares is unavailable in the UK
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Security & Regulations
Plus500 is a multi-regulated company. It’s licensed and authorized by numerous regulatory authorities. In the UK, the FCA has authorized this broker to offer CFDs. It’s also regulated by ASIC, FMA, and CySEC in Australia, New Zealand, and Cyprus, respectively. Finally, Plus500 is licensed and regulated by MAS in Singapore and the FSCA in South Africa.
Since Plus500 is authorized and regulated by numerous top-tier authorities, including the FCA, it adheres to multiple stringent compliance requirements. These are tailored to optimize the security of your data and assets. For instance, due to FCA regulations, Plus500 keeps client funds in segregated accounts, where it can’t mingle with the company’s resources.
Not to forget, since Plus500 is authorized by the FCA, it’s a member of the Financial Services Compensation Scheme (FSCS). This is a compensation fund that protects you from losses that may arise if your broker becomes bankrupt or insolvent. As a UK client of Plus500, you are qualified for compensation of up to £85,000.
Plus500 also employs and supports state-of-the-art security protocols. The platform is protected by SSL protocols, which encrypt all your data and make it indecipherable to bad actors. Furthermore, the platform has a logout timer and allows users to enhance their security with two-factor authentication (2FA).
Platforms
Plus500’s web platform is one of the best we’ve ever seen. It’s simple but exquisitely designed, making navigation a breeze. We found everything easily, from product offerings to trading fees and educational resources. This site is friendly to professionals.
That said, we discovered a few trading platforms while exploring Plus500:
- Plus500 Invest: This is Plu500’s newest brainchild. It allows investors to purchase the most popular shares and enjoy zero platform usage, deposit, and withdrawal fees. Users also enjoy zero custodial and inactivity fees, as well as dynamic charts and graphs. The shares available here come from different exchanges, including the London Stock Exchange and the Swedish Stock Exchange. Unfortunately, Plus500 is presently unavailable in the UK.
- Plus500 CFD: This platform allows people from around the globe, including the UK, to trade CFDs on forex, commodities, indices, shares, and much more. Plus500 CFDs are spread across 2800+ financial instruments. While trading CFDs with this platform, you get free real-time quotes and advanced analytical tools. You can also elevate your trading experience with fast order execution and flexible leverages of up to 1:30.
- Plus500 Futures: This platform allows users to diversify their portfolios with popular futures like gold, oil, and the S&P 500. The available futures come from different asset categories, from agriculture and metals to forex, energy, equity indexes, and interest rates. Unfortunately, Plus500 is currently unavailable in the UK. It’s exclusively for US traders.
Fees & Commissions for UK Traders
Brokers need to generate revenue and cover operating costs. That’s why many have fees and commissions. Sadly, high charges can undermine your profitability in the long run. That’s why looking for an affordable service provider is necessary.
With that in mind, we evaluated Plus500 fees UK. The process was easy since this broker values transparency. Our team was impressed by the fact that the trading platform doesn’t charge a dime for most services. First, opening an account is free. Deposits and withdrawals also attract zero charges. Furthermore, the broker offers free live CFD prices and dynamic charts. But note that the Plus500 minimum deposit UK is £100.
Plus500 primary source of compensation is the spread. While trading with this platform, you’ll have to cover the spread whenever you open a position. Your costs will depend on various factors, including your preferred instrument and current market conditions.
This broker also charges overnight funding and currency conversion fees. The former fee kicks in whenever you keep a position open overnight. On the other hand, you have to cover currency conversion fees whenever you interact with any currency besides your account’s base currency. Lastly, dormant Plus500 accounts attract a £10 monthly inactivity fee.
Product Offerings
The Plus500 trading platform is primarily for CFD traders in the UK. As we’ve already mentioned, this broker supports CFDs across over 2800 tradable instruments, including:
- Indices: Plus500 allows you to trade popular indices like US-TECH 100, France 40, and S&P 500. While trading index CFDs with this broker, you can magnify your positions with leverages of up to 1:20. You also get around-the-clock support and free real-time quotes.
- Forex: The Plus500 trading platform boasts 60+ currency pairs as CFDs. That includes popular instruments like EUR/USD, GBP/USD, and AUD/USD. As a forex trader, Plus500 offers flexible leverages as high as 1:30.
- Commodities: If you’d like to trade popular commodity CFDs and enhance your trading experience with flexible leverages, check out Plus500. This platform supports CFDs on commodities like gold, silver, oil, and natural gas. This product category offers leverages of up to 1:20.
- Shares: Plus500 is one of the best platforms for trading share CFDs. With a Plus500 account, you can access CFDs on shares from global markets like the UK, Germany, and the US. The available shares include popular options like NVIDIA, Apple, and Meta. Plus500’s shares CFDs come with up to 1:5 leverage and no stamp duty.
- Options: If you’re looking for a good platform for trading options CFDs, look no further than Plus500. This broker supports call and put options on diverse options, from Meta to oil and Germany 40. Options trading on Plus500 comes with flexible leverage, up to 1:5.
- ETFs: As a Plus500 platform user, you can trade many popular ETFs as CFDs, including GLD Gold, iShares Silver, and USO-Oil Fund. You can also elevate your trading with leverages as high as 1:5 and razor-sharp spreads with zero commissions.
Plus500 Support Service
If you have questions we haven’t addressed in our Plus500 review UK rendition, visit Plus500’s FAQ section. The broker has used this page to address the platform’s fundamentals, like how to verify your phone number or update account details. This section also contains numerous educational materials you can use to hone your trading skills.
But, if you have an urgent issue that requires prompt assistance, we urge you to contact Plus500’s team via WhatsApp. We tried this support channel and highly recommend it. Through WhatsApp, you can get in touch with a knowledgeable Plus500 representative without unnecessary details. You can also email your queries to this platform’s support team.
Unfortunately, Plus500 doesn’t have phone support.
How to Sign up For an Account at Plus500
Some brokers have complicated sign-up processes, but not Plus500. We registered with this broker and started using our account within an hour. The process is simple, but it can get complicated if you fail to follow the instructions. Remember, as a regulated broker, Plus500 must ask for and verify your personal information. If you prefer smooth sailing, submit relevant details and verification documents.
You can open a Plus500 account today by following these steps:
Step 1: Visit the Plus500 official site
Step 2: Start the registration process
Step 3: Verify your identity and address
Step 4: Deposit funds and trade
Visit the broker’s official site and browse around. Assess everything offered, from products to trading platforms. You should also test the site’s performance, more so if you plan to trade via your web browser. Alternatively, you can download a dedicated Windows, IOS, or Android app for trading on the go.
Before you register, read Plus500’s terms, conditions, and policies. Ensure everything aligns with your trading needs and preferences. Then, click the “Start Trading” button to start the registration process. Provide your email and set a strong password. Fill out the application form with the requested info, including your name, phone number, and address. Ensure everything you submit is accurate and factual.
The FCA and other regulators require brokers to verify the identity of their customers. Consequently, Plus500 will ask you to provide documents that prove your identity and location, including a copy of your government ID and a recent utility bill. After submitting the necessary documentation, give Plus500’s team time to approve your application.
You can fund a verified Plus500 account through different payment methods, including Visa, Mastercard, and bank transfer. But remember that Plus500 has a minimum deposit requirement of £100. After depositing money into your account, select an instrument and start trading.
Conclusion
Plus500 is a fantastic trading platform, no doubt. However, we encourage you to do extensive research before registering with this broker and funding your account. Visit Trustpilot, Google Play, or the App Store and read customer reviews. Also, check out what people in reputable community forums for traders have to say about this service provider.
Most importantly, we urge you to start with a Plus500 demo account. Use it to test the Plus500 trading platform. If you are a newbie, use your demo account to practice and sharpen your skills before becoming a live trader.
InvestingGuide Rating:
✔User-friendly interface
✔Zero deposit and withdrawal fees
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80% of retail investor accounts lose money when trading CFDs with this provider.
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Educational Resources