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UK Broker:
Plus500 Review 2023

81% 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

Choose A Reliable UK Broker for Regulated Trading

When it comes to trading, choosing the right broker is crucial for success, as it can significantly impact your results, including the possibility of both gains and capital losses. In the UK, Plus500 is one of the most reliable brokers that stands out for its services and features.

 

As a regulated and legitimate multi-asset broker, Plus500 offers a range of features that make it an ideal choice, especially with a demo account ideal for beginners. In this detailed review, we will outline the key aspects of Plus500 and why it is considered to be one of the best CFD providers and leading platforms in the UK.

Its important to mention Plus500 is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 index.

 

This premium listing and its market capitalisation of £1.71 billion (Jan 2023) reflect the platform's credibility and long-standing presence in the industry.

Regulation and Security: Ensuring Transparency and Fund Protection with Plus500

One of the first things traders should consider when choosing a broker is regulation. Plus500UK Ltd is authorised & regulated by the FCA (#509909); which is one of the most reputable regulatory bodies in the financial industry.

 

This regulatory oversight ensures that Plus500 operates with transparency and adheres to strict guidelines, providing traders with a sense of security.

Plus500 also takes security seriously. They keep customer funds in segregated bank accounts, separate from their own operating funds, in accordance with regulatory requirements. This means that in the unlikely event of Plus500's insolvency, client funds would be protected.

 

Additionally, Plus500UK Ltd does not use client money for hedging, pass client money through to hedging counterparties, or engage in speculative positions in the market.

 

This commitment to safeguarding client funds further establishes Plus500 as a legitimate and trustworthy broker.

Versatile Trading Products and User-Friendly Platform

Plus500 offers a wide range of trading products, including Contracts for Difference (CFDs) on currency pairs, indices, commodities, shares, options, and ETFs.

 

This diverse selection allows traders to have exposure to various markets and take advantage of different trading opportunities. Whether you're interested in trading major currency pairs like EUR/USD or commodities like gold and oil, Plus500 has you covered.

Plus500 has further expanded its offerings with the introduction of the Invest platform. This notable new feature enables users to buy outright stocks directly from the platform.

 

This feature provides users with access to over 2,700 share financial instruments available for trading, accompanied by market-data and round-the-clock customer support.

 

With such a diverse range of stocks, users can effectively diversify their portfolios and create a carefully balanced trading portfolio based on opportunities and risks. 

Cryptocurrency enthusiasts will also be pleased to know that Bitcoin trading is supported on Plus500. Availability subject to regulations.

 

Through CFDs on the Plus500CFD platform, users can trade Bitcoin, track its price movements and adjust trading strategies according to the opportunities and risks presented in real time. The platform provides a convenient way to access the cryptocurrency market without the need for a dedicated crypto exchange account. Availability subject to regulations. 

Furthermore, Plus500 offers options trading functionality through CFDs on the Plus500CFD platform. This allows users to trade options and take advantage of market volatility and potential price fluctuations.

For US traders, Plus500 offers the Futures platform, allowing for easy and innovative trading of E-mini and micro Futures contracts. This platform combines cutting-edge technology, professional support, and reliable clearing services to enhance the trading experience.

Plus500's unique features further enhance the trading experience. Real-time trading alerts, including price alerts and traders' sentiment alerts, keep users informed and help them make timely decisions.

 

The platform also offers free rollover adjustment, allowing users to continue holding positions on Commodities and Indices CFDs after the future contract reaches its expiry date.

 

Watchlists enable users to manage multiple favourite lists, making it easier to track preferred instruments and advanced trading tools, such as stop loss and take profit orders help traders protect their profits and limit potential losses.

The user-friendly and intuitive trading platform offered by Plus500 makes it an ideal choice, with the demo account especially for beginners. The platform is easily accessible through web-based and mobile applications for iOS and Android devices, enabling traders to manage their accounts and trade conveniently from anywhere.

Trade Plus500: A Trusted FCA Regulated UK Multi-Asset Broker for Reliable, Secure and Protected Trading - with a demo account ideal for beginners

Tailored Account Types and Leverage Options: Choosing the Right Fit with Plus500

Plus500 offers different trading account types to cater to the needs of various traders.

 

If you're new to trading or want to test out trading strategies, Plus500 offers a free unlimited demo account. Users can self-adjust their demo account balance, up to €40,000 or the equivalent in their trading account currency.

 

This customisation feature allows for a personalised trading experience and the ability to reset the account for different trading strategies.

 

This is a valuable feature for those who are new to trading and want to gain experience before risking real money.

For real money trading accounts, Plus500 offers a Real account and a Professional account. There is also a Premium Service for selected clients.

 

The Premium Service account provides additional exclusive services, such as a dedicated client manager, expert analysis, trading webinars, and a premium customer support team.

 

To be eligible for the Premium Service account, traders must first have a real money trading account and be selected by Plus500.

In terms of leverage, the maximum leverage for the Real Account is up to 1:30 and the leverage for the Professional Account is up to 1:300. However, it's important to note that leverage can amplify both profits and losses, so it should be used with caution and proper risk management.

Transparent and Competitive Fee Structure for Trading with Plus500

When it comes to fees, Plus500 takes a straightforward and transparent approach. They offer most of their services free of charge, and their money is made from the bid/ask spreads.

 

The bid/ask spreads offered by Plus500 are among the tightest in the industry, ensuring competitive low spreads pricing for traders.

Plus500 cover most payment processing fees and therefore does not charge fees for deposits and withdrawals. As part of their commitment to providing the best trading conditions, traders do not have to worry about additional charges when depositing or withdrawing funds.

 

However, it's worth noting that in rare cases, fees may be incurred for specific circumstances such as international card transactions, incoming/outgoing bank transfers, and transactions involving unsupported currencies (requiring conversion).

 

Please note that these fees are determined and imposed by the payment issuer or bank, not by Plus500. 

 

Here are a few details about the additional fees that may apply.

When considering a trading platform, it's essential to be aware of the additional fees that may apply to your account. Plus500 ensures transparency by outlining the following potential fees based on your trading activity:

Overnight Funding: Depending on the time you hold a position beyond the designated "Overnight Funding Time," an overnight funding amount may be added to or subtracted from your account. To learn more about this fee, please refer to the relevant information provided.

Currency Conversion Fee: For trades conducted on instruments denominated in a currency different from your account currency, Plus500 applies a Currency Conversion Fee. This fee is immediately reflected in the unrealised profit and loss of your open position. Detailed information on this fee can be found in the provided resources.

Guaranteed Stop Order: Plus500 offers a unique order type called Guaranteed Stop Order to help manage risks by ensuring a specific requested rate for the stop loss level. However, please note that using this feature may result in a wider spread due to the guarantee provided. Refer to the available resources for more information on this order type.

Inactivity Fee: To maintain an active trading account, it is important to log in regularly. In the event of no login activity for at least three months, an inactivity fee of up to USD 10 per month may be charged. This fee will continue to be applied monthly until the account is accessed again.

Withdrawal Process: When it comes to the withdrawal process, Plus500 aims to process withdrawal requests within 1-3 business days. This timeframe includes security checks and is subject to the processing time of the third-party remitter. While this might not be the fastest withdrawal process available, it is important to ensure the security of funds.

Plus500 offers transparent and fair fee structures, ensuring that you have a clear understanding of the potential costs involved. With no charges for deposits and withdrawals, Plus500 aims to provide a hassle-free experience for traders.

Plus500 Provides Comprehensive Educational Tools and Resource

Plus500 offers a range of educational tools and resources to help traders improve their trading skills and knowledge. These resources are designed to be informative, comprehensive, and intuitive, with a demo account catering to both beginner and experienced traders. Here are some of the educational tools provided by Plus500:

New Plus500 Trading Academy: Plus500 has launched The Trading Academy. This is a valuable resource that covers the essentials of the Plus500 platform and provides in-depth guidance on various trading topics. It includes 'how-to' videos, eBook's, video trader's guide, frequently asked questions and other educational materials that help traders understand the platform's features, navigate the markets, and execute trades effectively. Whether you're a beginner using the demo account or an experienced trader, these resources can help you enhance your trading skills and knowledge.

Informative Videos and Articles: Plus500's collection of videos and articles cover a wide range of trading topics, including technical analysis, fundamental analysis, risk management strategies, and trading psychology. These resources provide insights into market trends, trading techniques, and best practices, helping traders expand their knowledge and make informed trading decisions.

Economic Calendar: The Economic Calendar is a useful tool that provides traders with a comprehensive overview of upcoming economic events, such as economic indicators, central bank meetings, and other market-moving news. By staying informed about these events, traders can anticipate potential market volatility and adjust their trading strategies accordingly.

Risk Management Tools: Plus500 emphasises the importance of risk management in trading and provides several tools to help traders manage their risks effectively. These tools include 'Close at Profit' and 'Close at Loss' rates, as well as Guaranteed Stop and Trailing Stop orders. These features allow traders to set predetermined levels at which their positions will be automatically closed, helping them lock in profits and limit potential losses.

+Insights: Plus500 offers the exciting +Insights universe, which is a new set of features that leverage the platform's immense community-driven data and third-party providers. Traders can access real-time market insights, allowing them to analyse market trends and the trading activity of other Plus500 customers. This valuable information helps users identify trading opportunities and gain a deeper understanding of market behaviour and trader sentiment.

Within the +Insights universe, users can explore predefined measurements such as "most bought," "most sold (shorted)," "most profit-making positions," "most loss-making positions," and more. This trend exploration-driven tool provides a real glimpse into the "wisdom of the masses" by presenting a list of the top 10 instruments in each respective measurement. Traders can gain valuable insights into market trends and make informed decisions based on the trading activity of others.

Additionally, Plus500 offers the Instrument +Insights Tab, which provides an instrument-focused experience. Users can dive deeper into the data of each instrument, further enhancing their understanding and analysis capabilities.

The platform also introduces the +Insights +Me feature, allowing traders to discover their own trading preferences, risk management usage, and how they compare to other Plus500 traders. This personalised feature offers valuable insights into individual trading behaviour and helps users refine their strategies and approaches.

 

With the +Insights universe, Plus500 empowers traders with comprehensive market insights, trend exploration tools, and instrument-focused experiences. By leveraging community-driven data and third-party providers, the platform offers a unique and valuable resource for traders seeking to enhance their trading decisions and stay ahead of market trends.

Trading Strategies: Unfortunately, scalping and hedging strategies are not allowed on the platform. While this might be a drawback for some traders, the platform offers other avenues for trading and investment opportunities.

 

By leveraging these educational tools and resources, traders can enhance their trading skills, stay informed about market developments, and make more informed trading decisions. Whether traders are new to the platform or experienced traders looking to expand their knowledge, Plus500's educational resources are designed to empower traders and improve their trading performance.

Is Plus500 Safe?

Plus500 is a highly trusted company that is publicly traded and doesn't function as a bank.

 

It has received authorisation from six Tier-1 regulators, which are highly trusted, three Tier-2 regulators, which are considered trusted, and one Tier-4 regulator, which is categorised as high risk.

 

The Tier-1 regulators that have authorised Plus500 include the Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Financial Markets Authority (FMA), Monetary Authority of Singapore (MAS), and the European Union through MiFID.

A Trusted and Comprehensive Solution for Traders

In conclusion, Plus500 provides a comprehensive and feature-rich trading platform that caters to the needs of traders. While scalping and hedging strategies are not allowed, the platform offers a wide range of trading options, including outright stock purchases, cryptocurrency trading (availability subject to regulations), and options trading.

 

The withdrawal process may take 1-3 business days, but the platform ensures the security of funds through various security checks. Plus500 also stands out with its educational resources, such as the Trading Academy, which offers eBooks, video guides, and FAQs to enhance traders' skills and knowledge.

The unique features of Plus500, such as real-time trading alerts and free rollover adjustment, contribute to a seamless trading experience. Additionally, the platform's regulatory compliance and strong market position, reflected by its premium listing on the Main Market of the London Stock Exchange and inclusion in the FTSE 250 index, further validate its credibility.

In summary, Plus500 is a platform that traders should consider due to its diverse range of trading options, competitive fee structure, educational resources, and commitment to customer security. Whether you are a beginner using the demo account or an experienced trader, Plus500 offers a user-friendly and reliable trading environment to explore and capitalise on market opportunities in the stock market trading industry.

81% 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

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