76% of retail investor accounts lose money when trading CFDs with this provider.
- Experts rate Plus500 highly for its user-friendly access to CFD trading, highlighting its ability to short hard-to-borrow stocks and provide client sentiment insights. However, they note that the platform is basic compared to competitors, with limited order types and higher trading costs, which may not suit all traders.
- Across 146 user reviews on Good Money Guide, averaging 3.7/5, customers frequently commend Plus500 for its intuitive interface, ease of use, and the variety of instruments available for trading. However, some users express dissatisfaction with trading conditions and customer support, indicating a mix of positive and negative experiences.
Plus500 CFD Trading Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Plus500 CFD Trading across five key areas of our review framework.
- Pricing4.0
- Market Access5.0
- App & Platform4.5
- Customer Service4.5
- Research & Analysis4.0
Pros
- Easy account setup
- Shorting availability strong
- Client sentiment insights
Cons
- Limited order types
- Higher trading costs
- Basic trading tools
See full expert review
Our verdict
Plus500 offers easy access to CFD trading, including hard-to-borrow shorts with client sentiment indicators. It’s user-friendly but basic, with higher costs and limited features compared to rivals.
76% 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.
Is Plus500 any good for CFD trading?
Yes, I think Plus500 can be good for CFD trading and I'll tell you why. Reddit has been annoying me for a long time. Every time I search for something on Google, I get a load of outdated single-opinion forum answers thrust in front of me. When what I actually want is for someone who knows what they are talking about to answer my query initially, they back up their answer with a longer explanation, if I feel the need to read it.
Now, as an SEO, this offends me. As a trader, it offends me even more that Reddit's IPO coincided with Google giving their forum prominence in search results.
Now, Google is a fickle Master and changes how it's algorithm works with no notice and from many perspectives no reason. And I expect Reddit will fall foul of a Google update at some point in the future. Or at least I am hoping so, becuase I can't figure out how to use it and it doesn't make sense to me.
Which is why I want to short the stock and bet on it going down, which you can do with CFDs. But you can't do it with all CFD brokers because Reddit is what is known as a "hard to borrow" stock, which means that people won't lend it to you so you can sell it to someone else with a view of buying it back when it is priced lower to give it back. I tried to short sell it as a CFD on Interactive Brokers, XTB, and even IG, and none of them would let me. So I was delighted to see that it was shortable on Plus500.
I don't like to go crazy when reviewing platforms so put in £500 and maxed out my leverage which is capped at 20% by the regulators, to take a $2,500 position on Reddit's demise.
There are some quite cool features on Plus500 for when you are thinking of taking a position. For instance, their +Insights tab tells you where Plus500 clients are positioned in a stock, which in Reddit's case is 92% long, and amazingly Reddit is number 4 on the list of most profit-making positions in the last 30 days.
So I am significantly going against the grain here. It is, however, not a very popular stock on Plus500 with only 8k views over the last 24 hours from their 30 million users. But you can also see that Reddit has a below-average ESG score, which sort of means I'm a responsible trader by shorting non-sustainable companies???
Anyway, I sold at $90 and put a guaranteed stop on (for an extra $1.19 on the spread) just above $100 in case a bonkers billionaire decides to buy them, and it gaps above. I also put a take profit exit order in at $60, which was triple my stop loss distance.
Compared to other platforms, trading CFDs on Plus500 is pretty basic; there are no different order types, so you can't really work a proper limit order, only trade at market. But that's fine if you are just tapping away at the market, taking positions. Plus, overnight funding is pretty expensive, at 20% a year for longs and 10% for shorts. Spreads are dynamic which means that it changes based on market volatility and liquidity, so a bit wider (0.5% either side) than the underlying bid/offer, compared to other CFD brokers like IG and IBKR, where the spread is about 0.3%.
But one thing I do quite like about Plus500 is that when you are setting up a trade, it tells you the value in both USD and GBP so you know your exact exposure, which is pretty important so you don't get any nasty surprises whilst trading on margin in foreign currencies.
So it's a bit more expensive and not quite as advanced as other platforms, but at least if you want to short a stock, you can when other brokers won't let you!
I also should say that I have massive respect for Plus500 from a marketing point of view. They obviously looked at the online trading industry and thought to themselves, "this is ripe for disruption" and to be fair, they did disrupt the CFD trading (not the financial spread betting) industry.
Before Plus500 came along, most CFD platforms asked you to deposit a minimum of £5,000 to open an account. You had to prove that you had the relevant experience to trade high-risk derivative products, pass credit checks and wait at least a week before compliance, accounts and sales had checked your account and allocated you an account number. And in some cases, you didn't even get an account number until you'd BACS'd money over to fund your account.
But, that was about 15 years ago and Plus500 asked me during their compliance checks of my review to point out that "the information regarding the account opening gives the impression that the process is simple and fast, which could be misleading. Due to the document approval procedure and the questionnaire, the creation of the account can take some time. Also, if the approval requirements are not met, some users are unable to create a real trading account".
Which, of course, is true because, now for AML, you have to submit some personal documents, there are several term documents to read and you have to answer (and pass) a suitability questionnaire.
It's not now harder to open an account because a. CFDs have become more appealing to the mass market and b. CFDs are definitely not a mass-market product.
Innovation
What Plus500 did was create a basic trading platform that offered the major instruments that people wanted to trade. After all, the majority of revenue generated for CFD trading platforms is from the top ten traded instruments like FTSE, Wall Street, EURUSD, Gold and Oil.
Then they made the account opening process the most simple it could possibly be. Instead of having to get a notarised copy of your passport and post in bank statements, Plus500 clients could open an account online and start trading with real money relatively quickly (in less than a few minutes for a demo account). For other brokers, it was still taking a week. They could do it because normally new clients have to provide ID when opening an account to prevent money laundering. Because the rules at the time were generally geared towards withdrawals, not deposits, you didn't have to provide ID until you wanted to take money out. Plus500 eventually got ticked off for it and had to start front-loading ID checks. But it completely turned the industry on its head making it very simple for anyone to open a trading account. Cough cough, the mega marketing machine that is eToro.
Soon after that, all the other trading platforms tried to catch up but legacy technology still makes them a lot slower than Plus500 to this day.
Disruption
But, whilst Plus500 have disrupted the CFD industry, it's not necessarily for the good. Trading is a high risk, most people lose money. Just because you can do something, should you?
I know that things that are bad for you are often enjoyable, this isn't a debate about whether or not CFDs are good or bad. I have been in the CFD industry for 20 years and I think they are good, but then I have always dealt with professional clients, hedge funds, and traders who understand the risk. CFDs can be used to hedge portfolios, increase diversification, build a stake in a company without declaring it, making money when the markets fall by shorting stocks.
The debate is more about who they are appropriate for, and CFDs are not appropriate for everyone, but they are there if you want them.
Customer reviews for Plus500
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 146 reviews
- Excellent42%
- Very good18%
- Basic18%
- Poor9%
- Bad12%
What customers like
- User-friendly platform
- Wide range of trading options
- Helpful customer support
What customers dislike
- Manipulative trading practices
- Unfair trade closures
- High fees on withdrawals
Read customer reviews
Bad
Very Bad Conditions
Thank you for taking the time to share your experience. We’re sorry to hear that you weren’t satisfied, as this isn’t what we aim for. We always try to offer clear conditions and a reliable trading platform, and feedback like yours helps us improve. If you’re open to it, our Customer Support team would be happy to look into your concerns and see how we can help.
plus 500 5 star application
i have been use plus 500 since 2012 easy to use fast and exellent in deopsit and withdraw
Use of their ‘Section 22.6’ of PLUS500 user agreement ! STAY WELL CLEAR
DO NOT TOUCH THIS PLATFORM, WHEN YOU MAKE ANY MONEY, THEY CLOSE OTHER TRADES IN THE RED, TELLING YOU IT WAS YOUR CLOSURE, THEY GET THEIR MONEY BACK THAT WAY. THEIR PLATFORM CLOSED ME OUT FOR AGES AND LEFT TRADES NEEDING ATTENTION. BECAUSE I HAVE MADE MONEY, SHOWED I CAN RECOVER MONEY AFTER BAD TRADES, THEY HAVE JUST ISSUED ME 14 DAYS NOTICE USING THEIR AGREEMENT Sections 22.6 of the User Agreement, this allows PLUS500 to close your account anytime without needing to provide a reason! They are not going to let any negative balances recover. I had already had enough of them. Luckily I have kept cash out of the account, I think they realise I won’t be paying anymore in, hence they cannot take even more money by closing positions in the negative, and decided to close my account hoping they will make more gains from the trades still open. Absolutely disgusting people, I am moving to a highly reputable trader, should have gone there in the first place, instead of dealing with cowboys.
As they have replied, I did reach out to them for help. and for that my account is being closed with no reason given. I accepted all my losses and took full responsibility for that, as the market has been in a strong correction. I queried 3 trades, then, as soon as I am able to make some money back, they prohibit me for trading, I feel punished for asking for help. I have never been rude, always polite and courteous to staff. I am very upset by this awful and unwarranted treatment, I would not place another penny in this account, rather walk away with my losses, and learn from my mistake of trusting a platform such as PLUS500! Just awful, awful treatment, no reason provided.PLUS500 is happy to take thousands, no chance of closing my account when my money was flowing in, until I realised each time I made money, a trade was closed to recover the money by your platform.
In my opinion from my experience you do not want anyone to make any money, as you are basically a common betting site, it isn’t any wonder the moment a person might be in a position to make some gains as the market rises, you freeze trading.
PLUS500 is not set up for anyone to HOLD stock due to the overnight funding fees, which soon add up.
I reiterate they did indeed cite
‘Sections 22.6 of the User Agreement’
They can close your account without giving any reason.
Exactly what they did, they can decide something you are doing does not abide by their ‘agreement’ you won’t know what, your account will stop you trading, so you won’t be able to cover any losses, so you are left helpless with no explanation. I will be reporting this company to the U.S Departments who will not be happy they treat U.K tax payers this way. They need looking into, definitely auditing,
This review will appear everywhere I can place it to warn others, grandparents. Mums and dads who believe they are placing their money in a place where they will be treated fairly. I would not want others to lose money, then be disallowed to trade to make the money back as the market lifts out of a deep correction.
I will be closing my trades before they get a chance to make money as I do not want anything to do with your betting site. Bet red or green, place your bets, but don’t for goodness sake, win!
We’re truly sorry to read how upsetting this experience has been, and we understand how stressful it can feel when trading outcomes and account decisions don’t meet expectations. Plus500 does not intervene in trades based on profitability, and positions are closed only according to platform rules, margin requirements, or user actions. Account reviews are carried out in line with our User Agreement and regulatory obligations. We encourage you to continue the conversation with our Customer Support team so your concerns can be reviewed in detail.
Manipulators
Robbers close your positions with nonsense justifications , always trade opposite to your position would ask to to share their bank cards pictures with security code, licensed robbers
We’re sorry to hear about your frustration. We’d like to clarify that Plus500 never asks for security codes or full card details. In some cases, we may request documents showing only the last four digits and the account holder’s name to verify ownership and keep accounts secure. We encourage you to contact Customer Support so your concerns can be reviewed.
Solid broker
"This thing is pretty slick. Lots of options, easy to use, and they've got real people to help out if you need it. No complaints so far, it's doing what it's supposed to do."
So far so good..
I’m still exploring their service, but as a new user, I find the website very helpful.
You can use leverage
It's good cause you can trade with leverage. Easy to use, easy interface and there's good leverage. I've made some good amounts of money thanks to leverage.
User-friendly platform
Plus500 is a well-regarded trading platform known broad range of trading options, including forex, stocks, cryptocurrencies, indices, and commodities. The platform is especially user-friendly, making it accessible. It offers a solid trading experience for those looking for an easy-to-use, comprehensive platform.
Intuitive platform
The Plus500 platform is intuitively designed, making it ideal for advanced users, with clear charts, real-time data, and essential risk management tools like stop-loss and take-profit options.
Fantastic Platform
Plus500 is a fantastic trading platform for those seeking a reliable, user-friendly experience. It covers a wide range of markets, including forex, stocks, cryptocurrencies, commodities, and indices
Solid
That platform is fantastic - it is easy, it has everything, I make profits, it gives me my profits. Super good.
a reliable platform
I've been trading with Plus500 for some time now, and I’m happy with the experience so far. The platform is straightforward to use, and I appreciate the wide range of markets. The spreads are reasonable, and I’ve had no issues with deposits or withdrawals. Overall, I’m satisfied with the service and feel comfortable using it for my trades.
Plus500 is my go-to trading platform
I appreciate the wide range of instruments available, from stocks and indices to cryptocurrencies and commodities. The real-time charts and risk management tools are top-notch, helping me make informed decisions. Plus, their customer service is responsive and helpful.
I love this trading app
I've had a fantastic experience using this trading platform. The interface is intuitive, making it easy to navigate even for beginners. The tools provided are powerful yet simple, with real-time data and comprehensive charting options that help me make informed decisions quickly. It’s a reliable and efficient platform for anyone looking to trade with confidence. Highly recommended!
I like the charts
The charts are very clear and easy to read, making it simple to understand, They give a straightforward view that helps with understanding and analyzing information.
Good
I'm still in the learning process, but so far, I'm pleased with my experience. The verification process was smooth, and the demo has been very helpful.
A wide variety of instruments
They’ve got most global indexes, stocks, and commodities covered. The interface is easy to use, and their support team is friendly and helpful.
Great Experience with Plus500!
I had a fantastic experience with Plus500. The platform is user-friendly and easy to navigate, which made it simple for me to start trading. I was especially impressed with their customer support – they were quick to respond and super helpful in answering my questions.
The demo account was also a great feature that helped me get familiar with the tools before trading for real. Deposits and withdrawals were smooth which I really appreciated. They offer everything I need for a successful trading experience. Highly recommended!
Smooth and Reliable Experience with Plus500
I’ve had a great time using Plus500. The platform is really reliable, and I like how they have real-time data and a range of trading options. I found the fees to be clear, with no surprises, and deposits and withdrawals have been fast and easy. The risk management tools are a big plus. Overall, it’s been a straightforward and positive experience.
Decent platform
The platform suits my needs and I quite enjoy it. It has a lot of instruments, it's quick, easy, everything is placed conveniently for you to see. I'll continue using it.
In this expert review, we test Plus500 with real money and explain if it is a good CFD trading platform in the UK.
76% 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.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.