Plus500 review

Find out what you can do with one of the UK's leading CFD providers.

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Plus500
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between - of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
We say
★★★★★
Finder expert rating
You say
★★★★★
Customer satisfaction
No charges for trading
Poor user interface

Founded in 2008, The Plus500 trading platform is offered by Plus500UK Ltd. Plus500 is a leading contracts for difference (CFD) provider, letting you trade shares, forex, commodities, exchange-traded funds (ETFs), options and indices, alongside innovative trading technology.

The trading platform allows you to trade on movements in the price of shares, indices, commodities, forex, ETFs and options without having to buy or sell the underlying instrument.

Is CFD trading for me?

CFDs are complex, much more so than buying shares or general investment. In general, it’s all about speculating rather than owning, but it’s very risky. If you’re quite new to the trading game, it might not be suitable for you and you may want to do some research into it first. If you’re not prepared to lose the money you invest, this isn’t for you.

Compare CFD trading accounts

Table: sorted by promoted deals first
Data indicated here is updated regularly
Name Product Spreads from What you can trade Link
City Index CFD
City Index CFD
0.5 points
Forex, commodities, indices, cryptocurrencies, shares
Go to site
74% of CFD accounts lose money
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Pepperstone CFD
Pepperstone CFD
0.0 pips
Forex, indices, commodities, cryptocurrencies, stocks
Go to site
76.5% of CFD accounts lose money
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.5% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Plus500 CFD
0.01%
Shares, commodities, forex, indices, cryptocurrencies
Go to site
76.4% of CFD accounts lose money
More Info
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IG CFD
IG CFD
0.3 points
Forex, commodities, indices, cryptocurrencies, shares, ETFs, bonds, interest rates, sectors
Go to site
76% of CFD accounts lose money
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
Trading212 CFD
N/A
Forex, commodities, stocks, indices
Go to site
76% of CFD accounts lose money
More Info
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
eToro CFD
eToro CFD
N/A
Stocks, commodities, currencies, indices
Go to site
75% of CFD accounts lose money
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Saxo Markets CFD
Saxo Markets CFD
2 points
Stocks, indices, forex, commodities, options and bonds
Go to site
72% of CFD accounts lose money
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, or any of our other products work, and whether you can afford to take the high risk of losing your money. The value of your investments can go down as well as up. Losses can exceed deposits on some margin products. Professional clients can lose more than they deposit. All trading carries risk.
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What account types does Plus500 offer?

For actual real-life trading, there’s only one account available (two if you count the professional account, which is really just an upgrade). This is Plus500’s standard trading account. For those who want to have a go before they get started, there’s a handy demo account available. You don’t have to choose between them – you can toggle from one to the other on the main menu.

Plus500 demo account

It’s always nice to see a trading provider that has a demo account. This is great if you’re a beginner to CFD trading or just Plus500. There’s no limit to how long you can trade on the demo account. Even if you’re trading with real money, you can switch back to it whenever you want.
This is a great learning tool and allows you to really get to grips with Plus500 and CFD trading without real money.

Plus500 retail trading account

The retail trading account is effectively just a standard account. This is the one you start with when you sign up and allows you to trade CFDs in:

  • Indices
  • Cryptocurrencies
  • Commodities
  • Shares
  • Forex
  • ETFs
  • Options

Benefits of the Plus500 retail account include:

  • Negative balance protection
  • Commission free trading
  • Minimum spreads
  • Access to stop orders

Plus500 professional account

The professional account is an upgrade of the retail account, available to customers who fulfil certain requirements, detailed below. One of the main benefits is leverage available up to 1:300.

What is leverage?

Leverage lets you open positions that are larger than your capital. It’s shown as a ratio, like 1:3, which essentially means that for every £1 traded, you get the effect of £3 capital. However, this does mean that you can lose more than your initial investment, so it’s risky. You may have to have sufficient funds in your account to cover these losses.

To get access to the pro account, you need to request consideration. Plus500 considers your knowledge and expertise in financial markets and your investing experience.

To be eligible for a professional account, you need to meet at least two of the following criteria:

  • Sufficient trading activity in the last 10 months. This is at least 10 transactions per quarter of significant size over the previous four quarters. This could be with Plus500 or other providers.
  • A financial instrument portfolio of over €500,000. This includes cash savings and financial instruments.
  • Relevant experience in the financial services sector. This includes people who have worked in the financial sector for at least one year in a professional position which requires knowledge of related transactions of services.

Plus500 fees and charges

Plus500 doesn’t charge fees for most of its services. It makes its money from the bid/ask spreads. These are still pretty narrow, making Plus500 a competitively priced product.
Services with no fees include:

  • Deposits
  • Real-time forex quotes
  • Dynamic charts and graphs
  • Live share CFD prices
  • Opening and closing trades
  • Rolling your position

Buy/sell spreads
When you open a position with Plus500, you are paying the spread. It is incorporated into the quotes rates. The spreads differ between instruments. You can see the spread by selecting “details” and scrolling to “info” after searching for the instrument.

Other fees
Other fees can be added to your account. These depend on your trading activity.

  • Overnight funding. If you hold a position after a certain time, an overnight funding amount is either added to or subtracted from your account.
  • Currency conversion fee. If a trade is denominated in a currency different to the currency of your account, you’ll be charged a currency conversion fee.
  • Guaranteed stop order. This is an order type that helps manage your risk. It is subject to a wider spread.
  • Inactivity fee. If you don’t log in to your trading account for at least three months then a US$10 fee will be charged each month.

What CFDs can you trade with Plus500?

How safe is my investment?

When you open an account, Plus500UK Ltd will hold your funds on a segregated basis, in accordance with the Financial Conduct Authority’s client money rules.

Plus500 is covered by the Financial Services Compensation Scheme, which covers you up to £85,000 if Plus500 were to go bust.

What are the pros and cons of trading with Plus500?

Pros

  • Charges no commissions on any trades – all costs are in the spread
  • Offers access to a wide range of markets and instruments
  • Can trade cryptocurrencies like Bitcoin, Ethereum and Ripple
  • Competitive spreads
  • Demo account
  • 24/7 online support
  • Advanced trading tools
  • No commission

Cons

  • Reduced leverage on some markets
  • No phone support
  • Not much educational content, except for the demo account

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