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Plus500 Forex Review 2018 - Read & Share Experiences

#2 of 11 Forex Broker Comparison - Best UK Forex Brokers

Plus500 was founded in 2008. The broker has not been around for so long but they’ve really found their place to the within a very short time. Plus500 is currently one of UK’s leading providers of retail trading services. Plus500 is the first online broker to offer CFDs on shares without commissions, also introducing the world's first CFD trading on Bitcoin. Plus500 specializes in providing small retail traders the opportunity to spread bet and trade CFDs on a range of financial instruments. Headquartered in Israel, the broker is regulated by several authorities across several jurisdictions, and is regulated in the UK by the Financial Conduct Authority (FCA). Plus500 is listed on the London Stock exchange.

Bonus for the first deposit T&Cs Apply, 18+


  • Listed on the London Stock Exchange and regulated by the FCA
  • 50+ forex pairs available for trading trade (Majors, Minors and Exotic Pairs)
  • Full charting with a wide range of technical analysis tools available to traders
  • Attractive promotional offers for new traders
  • Negative balance protection
  • No commissions

User ratings

01Trading Offer & Conditions 9.5
02Trading Platforms & Demo Account 7.5
03Bonus for New and Existing Customers 9.5
04Mobile Trading 9.0
06Security / Regulation 9.0
07Customer Service 8.5
08Account Opening 9.0


Plus500 offers traders the opportunity of trading more than 50 currency pairs. They have impressive trading conditions. The broker is a market maker with tight spreads offering commission-free forex trading. Plus500 is one of the first retail brokers to offer commission free CFD trading on shares. Sit back and read our Plus500 reviews and see if their product portfolio and other services are suited just for you.

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Trading Offer & Conditions


01 Trading Offer & Conditions

One of the most important things we considered as part of our Plus500 trading review was the cost of trading. Trading costs usually come in two major ways; spreads and commissions. Traders can also incur the swap fees (also known as the overnight is financing charges). Swap fees are unimportant for day traders because these rates are charged when a position is held overnight on to the next day, but spreads and commissions are always an important part of trading costs and must be factored in by any trader that is serious about generating significant profits in the markets.

During our Plus500 forex review, we noticed that the broker charges a typical spread of 0.8 pips on EUR/USD and 1.7 pips on USD/JPY. They typical spread on GBP/USD 1.9 pips.
Their spread offering is quite attractive and very competitive. The broker does not charge any commissions; they only make money from spreads.

An inactivity fee of £10 would be charged if there is a continued non-use period of 3 months or more. This is used to offset the cost incurred for making their service available. A trader can simply log into his account from time to time in order to avoid this kind of deductions.

More than 2000 instruments available

As part of our Plus500 review, it is very critical to look into the market offering and tradable instruments available. On the Plus500 platforms, traders have the opportunity to trade a variety of instruments ranging from forex, ETFs, commodities, indices and shares. The broker offers a CFD trading and spread betting platform that adheres to the highest industry standards. The platform allows spread betting and CFD trading on over 2000 instruments. The available asset classes include 50+ forex pairs and share dealing covering CFD trading on American, European and Asian equities. Traders also get the opportunity of trading CFDs on more than 20 commodities and ETFs. Trading with Plus500 UK Ltd also gives traders the opportunity of trading CFDs on Bitcoin. Not many brokers in our forex broker comparison offer so many underlyings. The online broker has also added ‘CFD on Options’ recently to their wide range of tradable instruments. By trading options CFDs with Plus500, traders can trade on rising, falling and sideways markets. With Plus500, you can call or put options on the Dax 30, MIB 40, AEX 25, FTSE 100, S&P500 and trade option CFDs on the most popular indices in the world.
  • No entry and exit fees
  • DAX spread on average of 1 point
  • EUR / USD Spread 0.7 pips

Trading Platforms & Demo Account


02 Trading Platforms & Demo Account

A platform designed for maximum trade flexibility

The broker offers an easy-to-use and straightforward platform with trading tools that provide enhanced flexibility even for new traders. Plus500 operates three major platforms.

The Plus500 Platform, which has a downloadable desktop interface and also their web-based Plus500 Web, which works with any java enabled browser and needs no download, and the Plus500 mobile, which are available for Android, Windows and iOS devices. Plus500 also has a browser based platform which is available for Linux and Mac users.

Traders using any of Plus500 trading platforms have the opportunity to access a wide variety of trading features and advanced technical analysis tools. Traders have the opportunity of selecting from a wide range of indicators, but other tools like trend lines and shapes are not available.

Our Plus500 review concludes that, for traders that have fallen in love with the MetaTrader platform, Plus500 is not the way to go. The broker does not have the MetaTrader platform, in contrast to FxPro. When it comes to trading, however, reliability and flexibility should come first; Plus500 platforms provide just that.

Our Plus500 review takes an in-depth look into the order types available on their trading platforms. Orders can be used to enter or exit the market and can be used as a risk management tool for managing positions in the market. The broker provides traders with a number of order types and risk management tools for increased trading flexibility and management.

Plus500 also offers an additional tool, the trailing stop, which is designed to protect and lock in profits. This order type placed upon opening a position, and it locks in profits by closing the position at the trailing stop’s new level and not the level the stop was originally placed. This feature allows your stop to shift as the market progresses. This limits your downside risk without having to always stay with your charts full time to manually adjust your stops.

Important: In addition to the order types available on their platform, Plus500 gives traders the guaranteed stop option which secures a trader’s position from slippages resulting from high market volatility. This option, however, attracts higher spreads and an additional fee.

Bonus for New and Existing Customers


03 Bonus for New and Existing Customers

Plus500 offers a number of attractive bonuses such as initial deposit bonus, phone verification bonus and documents approval bonus. The icing on the cake for many traders, especially for beginners, is the deposit bonus for new customers. Depending on the first deposit, an additional 30- £7,000 is credited to the trading account as a bonus.

This broker is currently running a no-deposit bonus of £25 for new account opening, as well as

£25 No deposit bonus T&Cs Apply
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    Up to £7,000

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    Free unlimited demo account
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    Trainings and webinars
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    90 days

    Duration of bonus offers
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    Minimum deposit
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    Tournaments and competitions
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    Personal contact person
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    No deposit bonus
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    Without deposit

    Account opening

Each bonus has conditions for eligibility and availability for trading and/or withdrawal, such as certain minimum trading volumes (represented by trader points), within a specified time period.
From time to time, the broker may also offer additional bonus promotions, which will be available to clients based on certain pre-defined criteria which are usually at the broker’s discretion. If you are eligible to receive such a bonus, a message regarding the bonus information will appear in your client cabinet.
Traders can find information regarding their bonuses through the Funds Management option in their client cabinet.

  1. 01 | £25 No deposit bonus
  2. 02 | Up to £7,000 bonus for the first deposit
Get your first deposit bonus now - up to £7,000!
T&Cs Apply

Mobile Trading


04 Mobile Trading

The broker provides traders the opportunity to trade on the go through their mobile apps for smartphone and all handheld devices. As far as mobile trading is concerned, Plus500 gets an excellent rating.








Web App

01 | tip

The mobile platform is available for Android, iOS and Windows devices. In addition, there is a special app for the desktop for Windows 8.1 or higher. Plus500 is one of the few forex brokers that also provide special apps for Windows Mobile users.

02 | recommendation

The mobile applications on the respective app stores receive very high ratings because of their functionality and flexibility. This is one of the best rated forex trading apps. They are simple and intuitive, and they have numerous features for increased trading flexibility. Except the absence of trend lines and drawing tools, they do not miss anything.
  • Use the Plus500 mobile trading apps on the go
  • Open positions and manage your account anytime and anywhere



05 Payments

With Plus500, funding and withdrawals come with the greatest ease possible. Account funding can be done through credit cards, PayPal, Skrill, or through wire transfer. The fastest way to fund an account is through the credit or debit cards. Bank wire transfers are easy and straight-forward but generally take up to 5 working days to reflect in a trader’s account. The minimum deposit allowed is £100. A broker withput a minimum deposit is GKFX.

  • No charges for deposits and withdrawals
  • Deposits through PayPal is also available
Important: Traders should note, however, that there is a minimum withdrawal threshold which depends on the withdrawal method used.

Withdrawals also follow the universal rule, meaning that funding and withdrawal follows the same channel. One attractive feature of this broker is that they do not charge on deposits and withdrawals.

  1. 01 | £100 Plus500 PayPal
  2. 02 | No charges for deposits and withdrawals

Security / Regulation


06 Security / Regulation

FCA-regulation and deposit protection up to £50,000

As part of our Plus500 forex review, we looked into the history of this broker as well as the impact its trading environment has on the security of clients’ funds. Plus500 UK Limited is regulated and authorized by UK’s Financial Conduct Authority (FRN 509909). Being under this UK trading environment, FCA regulation ensures customer safety because Plus500 must follow the money rules in FCA’s Client Assets Sourcebook (CASS). This rule requires that clients’ funds safety is guaranteed by depositing them in segregated client accounts which are different from the company’s asset account so as to insulate clients’ funds in the unlikely case of bankruptcy. The broker offers traders protection with their compensation scheme which allows clients to claim up to £50,000 in the unlikely case of insolvencies.

FCA license 509909
BaFin register number 141470

CySEC license 250/14
Consob register number 4161
CNMV register number 3848

The broker uses its own money for hedging and does not use clients’ money for this purpose. Clients’ monies are also not passed through to hedging counter-parties. Plus500 has no exposure to corporate or sovereign debt.

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    Secure payments
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    50,000 GBP Deposit protection
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    Compliance with all MiFID regulations
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    Regulated by FCA
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    Negative balance protection

The broker has a negative balance protection, which means that customers cannot lose more than their deposit. Compared to forex brokers with additional margin, this is a big advantage. This, of course, does not absolve you of acting responsibly, so it is important for traders to avoid taking too much risk.

Customer Service


07 Customer Service

Plus500 offers an active 24/7 customer care service. Clients can contact them via email, fax and live chat. Their customer service is available in several languages so you don’t have to worry about language barriers. Their customer service is very efficient, although, it doesn’t offer telephone support.





25 The North Colonnade, Canary Wharf, London E14 5HS

[email protected]
not available

This can be a great disadvantage or might even be a problem in some situations whereby a customer does not have access to the internet. This also means that they don’t have the telephone trading option. Despite this set back, Plus500 still tries its best to provide a good customer service experience to its clients anytime and anywhere around the world.

Account Opening


08 Account Opening

One distinguishing thing about this broker is their singular live account type. This means that there is no discrimination in the quality of their service delivery based on the account size of a client. The minimum deposit for their live account is £100.

We also tested the process of the Plus500 account opening. Basically, their account process is fast and easy. Our Plus500 trading review shows that traders just need to enter basic personal details. This includes the trader’s knowledge of online trading and economic situation. The broker is required by law to obtain this information from you. After the account opening process, you will be redirected immediately to the Plus500 WebTrader.

  1. 01 | Enter personal details to open an account
  2. 02 | Deposit money, for example by PayPal or credit card
  3. 03 | Trade via WebTrader
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