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    Plus500 Review – Full Overview and Insights Of Our Trading Experience for UAE

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    Plus500 is a legit and safe online broker listed on the London Stock Exchange (LSE). It is a great online broker for those who want to trade CFDs on a simple to use trading platform. We can recommend Plus500 to beginner and advanced traders.

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    Review Summary

    Plus500 is a safe online broker and one of the most reputable players in the CFD industry. Their online trading platform is interactive and backed by great support. Plus500 offers 2200 CFD trading instruments from seven different asset classes. This include indices, forex, commodities, individual shares, ETFs, options, cryptocurrencies.

    Plus500 trading fees are low. There is no trading commission or deposit and withdrawal fees. The minimum deposit is 100eur (or dollars) for credit cards and electronic wallets. The minimum deposit for wire transfers is 500eur.

    Plus500 headquarters are in Israel with subsidiaries in Australia (ASIC), Singapore (MAS) and the United Kingdom (FCA).

    We recommend Plus500 advanced traders looking to trade CFDs on a solid trading platform.

    In this Plus500 review we reveal everything you need to know before opening an account.

    Good:

    • Foolproof Interface
    • No Commission
    • Demo Mode
    • Responsive Customer Support
    • Regulated & Transparent
    • Listed on LSE

    Bad:

    • Limited only to CFD's
    • Poor Educational Material
    • No Phone Support

    1. Fees and Spreads  

    Plus500 has a competitive spread structure, but it is not always the cheapest. It also has certain non-trading fees, such as overnight funding. 

    Good

    Bad

    • no commission on trading
    • competitive spreads
    • not all spreads are competitive

    Plus500 fees are competitive. They don't charge trading or commission fees. This broker generates revenue through a bid/ask spread. Plus500 trading costs are part of the buying and selling price.

    Plus500 bid/ask spreads are not the lowest in the industry. Other brokers might add a commission, increasing the total trading costs. Plus500 offers both fixed and variable bid/ask spreads. The type of bid/ask spread will vary per trading instrument.

    The table compares the bid/ask spreads of five popular assets.

    Instrument

    Spread

    vs other platforms

    Oil

    0.04

    lower

    Germany30

    2.44

    lower

    Gold

    0.74

    similar

    EUR/USD

    0.00006

    similar

    Facebook

    0.09

    lower

    Non-trading fees 

    Plus500 charges an overnight funding fee. They also charge a currency conversion fee, a guaranteed stop order fee, and an inactivity fee.

    For additional information, visit the main screen of the Plus500 trading platform for the relevant instrument and check the “Details” link.

    2. Plus500 Withdrawals and Deposits

    Deposit and withdrawals with Plus500 are fast and straightforward. Plus500 has a minimum deposit for opening a trading account. The minimum deposit is $100 for credit cards and electronic wallets. The minimum deposit for wire transfers is $500.

    You can deposit and withdraw money from Plus500 using Credit or debit Card, wire/Bank Transfer, e-Wallets (PayPal or Skrill).

    Deposits

    Plus500 does not charge any deposit fees. Deposit restrictions and limitations are base on your residing country. Their platform has a maximum deposit limit. For more extensive deposits, up to $300,000, bank transfers are preferable.

    Withdrawals

    Plus500 fee structure is competitive. Traders can make five withdrawals per month at no charge. Each withdrawal over the limiy costs an extra $10. 

    There is a minimum withdrawal rule for no-fee withdrawals. For example, Paypal requires a minimum withdrawal of $50. Bank transfers have a minimum withdrawal of $100. The zero-fee withdrawal schedule link is on the Plus500 trading platform.

    3. Plus500 Safety and Privacy 

    Plus500 is a public traded company and one of the most trusted brokers in the industry. It is listed at the London Stock Exchange (LSE) and under regulation of top-tier financial authorities. Those include the Financial Conduct Authority (FCA), the Financial Services Compensation Scheme (FSCS), Monetary Authority of Singapore (MAS), and the Australian Securities and Investment Commission (ASIC). The company has trading licenses in Singapore, Australia, New Zealand, and South Africa.

    Plus500 separates its funds from client funds. Capital used for speculation and hedging is separate from client accounts which ads a significant degree of safety.


    4. Tradable Assets

    Plus500 is one of the best trading platform for CFD trading. It offers CFDs for 2200 instruments from seven asset classes. Those include indices, forex, commodities, individual shares, ETFs, options, cryptocurrencies.

    Asset

    Popular on Plus500

    Indices

    Germany30, USA500, UK100, Swiss20, Cannabis Stock Index, NYSE Fang+ Index

    Forex

    EUR/USD, EUR/GBP, USD/JPY, GBP/USD

    Commodities

    Oil, Silver, Copper, Gold, Sugar

    Crypto

    Bitcoin, Ethereum, Litecoin

    Shares

    Facebook, Airbus, Amazon

    Options

    /

    ETFs (exchange traded fund)

    TAZ, USO, GLD, XBI

    What is a Contract for Differences (CFD)?

    CFDs are financial derivatives that allow investors to bet on the direction of the price of an asset. You don't have to own the underlying asset.

    An investor can speculate on several financial assets. Popular assets offered by Plus500 are shares, stocks, cryptocurrencies, and forex. Plus500 provides more than 2000 financial instruments, including options and commodities.

    Learn more about CFDs from our dedicated series:

    Plus500 offers a versatile range of CFDs. Here is a quick comparison that helps put things into perspective:

    # of CFDs

    Plus500

    eToro

    XTB

    Currency pairs

    50

    47

    49

    Crypto (individual coins)

    12

    16

    9

    Total CDFs offered

    2033

    1980

    1894

    5. How to get started With Plus500

    The registration and verification process is fast and easy. Everything can be done 100% online.

    The Plus500 on-boarding process is fast and intuitive. The instructions are clear and easy to follow. The first step is to create an account with two necessary credentials – email and a password. Once registered, you will have access to your statistics and essential trading functions. Plus500 is open for business for residents of more than 50 countries, including most of Europe and AE. There are some exceptions, including Belgium and the United States.

    Check out the video below to get more information about how to open an account and start trading on Plus500:

    Demo mode

    Demo mode is a  feature that you might consider exploring before risking capital. It works like a trading account, but you will receive 40,000 virtual euros to trade without any risk or time limit. Demo mode is an excellent way to test-drive strategies before risking real capital.

    Snapshot of the trading interface

    Verification process

    Plus500 performs an identity and residency verification before you can make a deposit. You might need to provide your bank statement, electricity bill, or phone bill. You will need to provide a standard ID. Here is a grab screen of the first step of the verification process:

    6. Plus500 Web Trading Platform

    Plus500 trading platform offers advanced trading features and is still user friendly. It provides reports on open trades, fees, trading positions and historical transactions. It also uses a two step verification process to ensure safety. The graphs, tables, and visuals are unambiguous and minimalistic. Despite the recent additions, customization remains narrow. Most traders rated the platform with a 4.5+ rating.

    Colored bar funtion

    Line function

    The search feature works great. It's easy to track down whatever you need on Plus500. You can browse between different financial products with the left sidebar. You can also type the product name in the search bar. Order entry is average. The orders Plus500 offer include guaranteed-stop-loss orders, market orders, limit orders, stop-loss orders, and trailing stop orders.

    Account snapshots bring all the trading info in one place.

    A useful feature is a notification and alert function. You can set up your emails, push notifications, and SMS to suit your needs. The notification feature is helpful when you need to react to market volatility.

    7. Mobile Trading Platform

    The mobile app is simple and intuitive. It offers most of the tools and features offered on the desktop version. The mobile solution is also well designed and allows users to trade while they are on-the-go. We liked the precise layout of the charts and graphs, which is essential on small screens. The mobile version is available for iOs, Windows and Android.

    8. Research Tools and Educational Program

    Plus500 educational materials and research tools are limited. Their economic calendar is the highlight, but instructions for beginners are missing.

    Plus500 provides an economic calendar (as seen in the below image). Pertinent fundamental data is missing. Plus500 does not offer a newsfeed.

    Economic calendar

    Plus500 offers several drawing tools that can help you analyze trends. Users can customize their charts view by choosing: chart type, price type, and time intervals.

    Plus500 increased the available indicators to 50, which is better than average. The most common technical-indicators are Bollinger Bands, Moving Averages, and Volume Underlays. You can see Volume Underlays in the below snapshot:

    Plus500 is missing on news and educational materials. Plus5000 offers educational options for people who want to learn about trading. Their academic library of short videos is confusing. There is a lack of guides, blogs, and instructions.

    9. Plus500 Customer Support

    The customer support is responsive and helpful and is rating above average.

    Plus500 offers email and live chat support on the website, with a response time within one hour. That's much faster in comparison to the competition.

    In 2019, Plus500 implemented customer support over WhatsApp. Plus500 is the first CFDs broker to integrate WhatsApp into its customer-support framework.

    Live chat service is available 24/7.

    Plus500 UAE Special Features You Need to Know About

    Plus500 UAE is a trading platform available for UAE customers. The Plus500 platform offers a bonus for customers after their first deposit. The bonus is eligible for customers who have reached a specific trading volume.

    The Plus500 UAE platform offers all its tools and support in the Arabic language. For traders who do not speak English, this is a big plus.

    Plus500 Final Verdict

    Plus500 is a legit online broker build on a high tech CFD trading platform. The company discloses its financials and is not a scam broker. It is under regulation of top tier financial regulators and listed at the London Stock Exchange. Their mobile trading app is easy to use and offers the same features as the desktop version.

    Plus500 trading fees are low. There is no trading commission or deposit and withdrawal fees. This broker is lacking on educational materials and research tools. 

    We recommend Plus500 to advanced traders looking to trade with CFDs. This broker is among the best and most trusted companies in the industry.

    Methodology 

    The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

    Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

    Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

    Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

    2 COMMENTS

    1. Plus500 is a SCAM. They don’t provide their office address or phone number. The only way to communicate with them is email which they don’t reply on time, in fact, most of the time they don’t reply at all.

      They forcefully closed my positions at zero rate when the instrument was temporarily unavailable for trading (according to the company announcement) causing me a loss of around $1200 AUD. It caused my account a margin call and my other positions were closed automatically by the system causing me another $400 AUD loss. I lodged a complaint, they said they would investigate but they did nothing. I’ve evidence of all these and I can provide them at anytime if required.

      Their pip differences are huge and their instrument prices don’t match with the real prices. Please stay away from Plus500 by all means.

      • Hey J Sarker, I am sorry to hear you had bad experience with Plus500. As we would like to investigate your case even further to get our users the most accurate information possible we hopped you could send us more information of your case to our email: [email protected]. We appreciate you sharing information with us.

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