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 Every time I search for something on Google, I get a load of outdated single-opinion forum answers thrust in front of me.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
User-friendly platform
I’ve had a great experience with Plus500! The platform is user-friendly and offers a wide range of trading options, which keeps things exciting. I love the advanced charting tools and analytics, helping me refine my strategies. Transactions are quick and hassle-free, and the educational resources are a great bonus for learning more about trading. The customer service team is also fantastic—always ready to assist. I highly recommend Plus500 to anyone looking to enhance their trading journey!
Exceptional Experience – Highly Recommend!
I've been trading on Plus500 for a while now, and I couldn't be happier! The platform is sleek and easy to use, making it simple to execute trades quickly. I appreciate the variety of educational resources available, which have helped me improve my skills. The low fees and competitive spreads are a huge plus, too. Customer support is top-notch—always friendly and quick to resolve any issues. Overall, Plus500 has exceeded my expectations, and I highly recommend it to fellow traders!
Great Platform
I've been using the Plus500 platform for the past few months, and I'm really impressed! The user interface is intuitive and easy to navigate, making trading a breeze for both beginners and experienced traders. The variety of assets available is fantastic, and the real-time data helps me make informed decisions. Customer support is responsive and helpful, which is a big plus. Overall, Plus500 has made my trading experience enjoyable and profitable. Highly recommend!
Plus500 experiences
I’ve had an outstanding experience with Plus500 as a trading platform. Its user-friendly interface makes it easy to navigate markets and execute trades, whether you’re a beginner or an experienced trader. The app's quick response times, real-time data, and a wide range of available assets (stocks, forex, commodities, and cryptocurrencies) create a dynamic trading experience. I especially appreciate the demo account feature, which allowed me to practice strategies without risk before investing real funds. Plus, their customer support has been responsive and helpful whenever I’ve needed assistance. Overall, Plus500 has been a reliable, enjoyable trading tool! :)
My favourite broker
Plus500 has been an excellent trading platform, combining simplicity with powerful features. The platform offers a huge range of trading options, from stocks to forex and even cryptocurrencies, which gives me a lot of flexibility in my investments. The real-time charts and alerts help me stay on top of market trends, and I find the fee structure to be transparent and reasonable. One feature I really value is the mobile app—it’s smooth and lets me monitor and manage trades on the go without a hitch. Plus500 has made online trading accessible and enjoyable!
Decent Platform for CFD Traders
Plus500 offers a straightforward platform for trading CFDs on a variety of assets, from stocks to commodities. The interface is clean and easy to navigate, which makes it approachable for beginners, though it might lack some of the in-depth tools that seasoned traders might want. Decent overall.
most intuitive platform
I heard about Plus500 from a friend, and this is the most intuitive platform I have ever used.
easy to understand, many instruments and overall Im very satisfied
Great broker
I am very happy with the services they offer - there are a lot of instruments available, the customer support is 24/7, they answer all types of questions. All in all, solid performance. I'll continue using it.
Excellent mobile app
I recently tried out the Plus500 mobile app, and I have to say, it's absolutely superb! The app boasts great features, is incredibly user-friendly, and has an intuitive interface. I highly recommend giving it a try!
Best for Forex
I've been using the Plus500 platform for the last year. It offers a wide range of Forex pairs and is very easy to use.
A great platform for both beginners and experts
I started out as a beginner, but with the help of Plus500's free demo account and academy materials, I learned more about the trading world and became pretty much an expert. I am now aware of all the risk management tools they offer, which are super helpful for me as I trade with high volume.
A Seamless and Satisfying Trading Experience
Plus500 has provided me with a highly positive trading experience. The platform is user-friendly, offers a wide range of markets, and allows trading with reliable execution. The tools for risk management are top-notch, and the customer support has been responsive whenever I’ve needed assistance. I highly recommend Plus500 as a solid and dependable platform.
Plus500 demo account
As a beginner in trading, I've found the Plus500 demo account incredibly helpful. It provides a user-friendly interface that allows me to explore and practice different trading strategies without risking real money. Everthing is so easy to understand and navigate. I also appreciate that the demo version mirrors the real trading experience, so I feel more confident about transitioning to live trades when I'm ready. Overall, it's an excellent tool for learning the basics and gaining experience! :)
Great platform!
I have been using the platform for around a year now and I'm pleasantly surprised by how I did not have any issues so far. The opinion of the company on the internet is 50/50 but before you try it for yourself, you can never be sure. Everybody has different needs. And so far, it's working really well with Plus500 for me.
My needs are met, my questions answered, my traders... have seen good and bad days 😂
Exceeded my expectations
I’ve been using Plus500 for several months now, and my experience with the platform has been overwhelmingly positive. As someone relatively new to trading, I was looking for a platform that was easy to navigate but still powerful enough to offer access to a wide range of markets — Plus500 has exceeded my expectations in both areas.
A simple trading platform
I recently started using Plus500 for my trading needs and I must say I’m quite impressed! The platform is really easy to use, which is great for beginners. I appreciate the demo account, as it lets me practice without any risk.
There are many trading options available, such as stocks, commodities, cryptocurrencies and more. The charting tools and analytics provided are also helpful.
One of the standout features for me is the instant execution of trades, which makes the trading process smooth. Customer support is helpful whenever I have questions. Overall, Plus500 has been a good choice for me, and I recommend it to anyone interested in trading!
Excellent Trading Platform with User-Friendly Interface and Great Features
I've been using Plus500 for several months now, and I'm genuinely impressed with the platform. One of the key highlights is how user-friendly the interface is—both on the app and desktop versions. It's incredibly intuitive, which is great whether you're a seasoned trader or just getting started in CFDs. Setting up an account was straightforward, and the verification process was quick.
The range of instruments available for trading is extensive, from stocks and indices to cryptocurrencies, forex, and commodities. This diversity allows me to diversify my portfolio easily and react to market trends as they happen. What I love most is the real-time charts and data, which are accurate and regularly updated, helping me make informed decisions.
The demo account feature has been a real plus for me. I used it to get a feel for the platform before committing real money, and I still use it to test strategies without any risk. The fact that you can switch between real and demo mode with ease is incredibly useful.
In terms of fees, Plus500 is transparent. There are no hidden charges or commissions on trades, which I find to be a huge advantage. They make it clear upfront how they make money, primarily through spreads, which are competitive in my experience.
Customer support is responsive and helpful whenever I've had queries. I’ve contacted them via live chat, and the responses are prompt and informative.
Overall, Plus500 provides a secure, efficient, and convenient platform for trading CFDs. I would highly recommend it to anyone looking for a reliable and straightforward trading experience!
Plus500 Trading
Great trading Platform! It is very convenient and easy to use.
There are many instruments to trade and the trading academy is fantastic!
Plus500 platform
One of the best trading platforms I've used. Super easy to navigate, and when I wanted to withdraw my money I did it without any issues.
Very recommended!
Plus500- one of the best I've tried!
I've been trading with Plus500 since I was introduced to them by a friend and I gotta say...they're one of the best out there! The platform is easy to use, the analytical tools are super helpful and it gives me peace of mind to know that I'm trading with a regulated broker. The offer stop loss and stop loss guaranteed features are great because it means that I don't have to check my app every hour.
Also, never had issues with closing positions or withdrawals.
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.
