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

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    In a nutshell

    We recommend the Plus500 platform to mid and advanced traders who are looking to trade CFDs on easy-to-use platform.

    Plus500 has a efficient customer support and is considered one of the safest online brokers out there.

    Plus500 trading fees are low. There is no commission or deposit and withdrawal fees.

    The minimum deposit is 100 euro (or dollars) for credit cards and electronic wallets and 500 euros for wire transfers.

    Plus500 has a simple, easy-to-use trading platform, with an especially well-designed mobile platform. The account opening process is fully digital and seamless. 

    Plus500 offers CFDs over around 2200 instrument from seven asset classes. On a negative side, the product portfolio consists only of CFDs and forex products. 

    Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with Plus500. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    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
    Overall score: 9/10

    Plus500 Review and Insights

    Plus500 is an online financial platform founded in 2008 in Israel. Since then it has branched out into 50 markets around the world, raised 152 million dollars of investments and got listed on the London stock exchange.

    Plus500 provides trading services as contracts for difference (CFD). Simply put, a CFD is a contract that pays the difference between the opening and closing prices of a specified financial instrument, including shares, commodities and currencies.

    A fair warning is in place here: most retail investors, 76.4% trading on Plus500, lose their money with CFDs. Learn first in detail how CFDs work and invest only the money you can afford to lose!

    Plus500 is otherwise considered reliable, safe to use, with competitive fees and favourable deposit/withdrawal rules.

    It’s suitable for all levels of investors:

    Beginners (7/10)
    • fast onboarding
    • simplified trading
    • demo mode
    • poor tutorials
    • lack of comprehensive guidance
    Mid-level traders  (9,5/10)
    • more than 2000 financial instruments
    • technical analysis tools
    • up to five monthly withdrawals for free
    • comprehensive economic calendar
    • lack of a newsfeed
    Advanced traders (9/10)
    • technical analysis tools
    • investors’ protection mechanism
    • customizable graphs and tables
    • suboptimal reports
    • lack of a newsfeed

    Costs

    You PAY:

  • Spreads on the trades
  • Overnight funding
  • Currency conversion fee
  • Guaranteed stop over
  • Inactivity fee
  • You Don't PAY:

  • Commissions for trades
  • Deposits
  • Withdrawals
  • Payment processing
  • Using the platform
  • 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

    Fees and other costs for using a particular trading service is understandably an important factor.

    The good news is that Plus500 is relatively generous. There is no commission or possible deposit and withdrawal fees. Plus500 trading fees are low.

    Trading fees

    Plus500 compensation comes from the bid/ask spread. This means that the cost is built into the buy and sell price of the instrument you want to trade.

    Plus500 spreads are not the lowest in the industry. Be careful, though, even if spreads from other online brokers are more favourable, brokers can still charge additional commission which increases the overall costs. Plus500, on the other hand, doesn’t charge commission, it is compensated through spreads.

    The Plus500 spreads are both fixed and variable. The type of spread which you are offered usually doesn’t depend on the asset itself (stock, indices, commodities…), but instead on the single instrument which is used (Facebook stock, oil, EURUSD…).

    To view the spread for a specific instrument, simply log in to your account, search for a specific instrument, click on the “Details” icon and scroll down to the Info section.  The info box also contains the type of spread – fixed or dynamic.

    Let’s also look at the Plus500 spreads more in detail. We’ve picked five most popular instruments and compared them with the average spreads of other similar online brokers.

    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 doesn’t have any commission, but it still charges non-trading fees for specific activities.

    For example, if an overnight funding amount is either subtracted from or added to a trader’s account when a position has been held for a certain time trading fees would apply. This is usually referred to as “the overnight funding time”.

    To calculate the daily overnight funding amount of a position, Plus500 uses a formula comprising the size of the trade, multiplied by the opening rate and multiplied by the percentage applied to daily overnight funding.

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

    To recap, here are all of the Plus500 non-trading fees you have to watch out for:

    Overnight funding

    Additional fee when holding a position after a certain time

    Currency conversion fee

    Up to 0.3% of the trade’s realised net profit and loss

    Guaranteed stop order

    Fee is charged via a wider spread

    Inactivity fee

    Up to 10 dollars per month if the user doesn’t log into the account for at least three months

    2. Plus500 Withdrawals and Deposits

    Deposit and withdrawals with Plus500 are friendly, especially for beginners.  

    Good

    Bad

    • Credit/Debit card deposits and withdrawal 
    • free deposit
    • user-friendly
    • five withdrawals per month are free
    • minimum deposit 100 dollars
    • minimum withdrawal 50 dollars for PayPal 
    • minimum withdrawal 100 dollars for bank 

    Does Plus500 has a minimum deposit?

    Plus500 has a minimum deposit for opening a trading account with them. The minimum deposit is $100 for credit cards and electronic wallets and $500 for wire transfers.

    Plus500 offers a range of options available when it comes to deciding how you want to submit or take your money out.

    The good news is that in our analysis deposit and withdrawal on Plus500 have both worked smoothly and as advertised by the company.

    Deposit

    There is no fee to deposit money into Plus500, and you can upload your money (almost) anyway you like.

    This includes third-party tools such as PayPal and Skrill, bank transfer, or credit or debit card. Bank transfers do take a little longer than electronic transfers.

    But there are several deposit limitations on your Plus500 account, however. These limitations depend on the residing country.

    Plus500 doesn’t publish comprehensive country-related information but, generally speaking, the minimum deposit is 100 euro (or dollars) for credit cards and electronic wallets and 500 euros for wire transfers.

    In comparison to other similar online brokers, these numbers are relatively friendly to beginners who want to start super small. Minimum deposit amount on eToro 200 dollars while XTB will ask for 250 dollars.

    The maximum deposit at Plus500, on the other hand, is also limited by the deposit source. If that is your concern, note that bank transfer is mostly used for larger sums up to 300.000 dollars.

    Withdrawals 

    Here comes the best part which is often not the standard in the industry.

    You can make up to five withdrawals per month on Plus500 with no charge. That’s more than enough for an average trader.

    In case you are on withdrawal spree and you exceed the limit, you’ll need to pay extra 10 dollars for each transaction. Which is still relatively competitive – eToro, for instance, charges 25 dollars for each withdrawal.

    There is another caveat to watch out for. All withdrawal methods have minimum amount thresholds. They can be found on the withdrawal screen on the Plus500 trading platform.

    PayPal users, for example, will have to take out least 50 dollars. And bank transfer will work if you withdraw at least 100 dollars.

    Also note that it might take a few days for your withdrawal from Plus500 UAE to come through. Keep that in mind if you’re in a hurry to get your funds.

    3. Safety and Privacy of Plus500

    Plus500 is one of the most reputable and reliable online brokers out there.

    Good

    Bad

    • Regulated by national financial authorities
    • listed on the LSE
    • well disclosed financial information
    • responsive customer support
    • client protection policy
    • information at times confusing

    Plus500 is considered a safe and reliable online broker.

    Its credibility has been confirmed by different financial regulators from several jurisdictions.  

    Plus500 is authorised and regulated by Financial Conduct Authority in the UK and Cyprus Securities and Exchange Commission. It also holds necessary licences from the authorities in Singapore, Australia, New Zealand and South Africa. The trading platform itself is registered in Israel – also the homeland of the company’s founders.

    Plus500 has been founded over a decade ago, it is a well-established company with several offices around the world and a sizeable workforce.

    The Plus500 company has been listed on a London stock exchange since July 2018. In its initial public offering, the company raised 25 million dollars, becoming one of the better funded online brokers to date. This is important since going public is perceived as an indicator of credibility. Public companies are usually scrutinized and are required by law to disclose their financials.

    Plus500 also has a client money protection policy. This means that the funds are not used for hedging or initiating speculative positions in the market. Note that the type of customer protection depends on country of residence and the relevant regulator. See the table below for more information.

    Plus500 Subsidiary

    Regulator

    Countries Covered

    Client protection

    Plus500CY Ltd

    Cyprus Securities Exchange

    EEA countries, Argentina, Bahrain, Chile, Israel, Kuwait, Malaysia, Mexico, Oman, Qatar, Saudi Arabia, Spain, South Africa, Switzerland, United Arab Emirates, Uruguay

    All client funds are held in a segregated client bank account

    Enter your text here...

    No hedging or investments with funds of retails clients

    Investor Compensation Fund for clients of Investment Firms regulated in the Republic of Cyprus

    Plus500UK Ltd

    Financial Conduct Authority

    UK, Ireland and Germany

    All client funds are held in a segregated client bank account

    No hedging or investments with funds of retails clients

    £85,000 of compensation if the firm becomes insolvent or ceases trading

    Plus500AU

    Australian Securities & Investments Commission (ASIC)

    Australia, New Zealand and South Africa

    All client funds are held in a segregated client bank account

    No hedging or investments with funds of retails clients

    if Plus500AU goes into liquidation deposits would attract all the legal protections afforded to trust money

    4. Trading options 

    Plus500 allows trading only across CFDs, of which there are more than 2000 instruments.  

    Before we look at the details of Plus500 trading options, first a well-intended warning.

    CDFs are very risky financial derivatives. The British Financial Conduct Authority has found 82% of customers lose money on CFDs, with average losses of £2,200 per person.

    Plus500 itself repeatedly warns users that CFDs are complex and come with a high risk of losing money rapidly, especially due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with Plus500.

    You should, therefore, seriously consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    Plus500 offers CFDs over around 2200 instrument from seven asset classes.

    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

    While Plus500 has a lot to offer as a trading platform, it’s only designed for use with CFDs. What is a CFD anyway?

    CFDs are financial derivatives which allow investors to bet on the price of an asset without ever owning it. You can speculate whether the price will go down (short) or up (long). If you’re right, you profit, if not, you lose.

    An investor can speculate on a whole host of financial assets. Most common are shares, stocks, cryptocurrencies and forex. There are many more, Plus500 offers CFDs on over 2000 financial instruments including different types of options and commodities.

    Learn more about CFDs from our dedicated series:

    There are indeed a lot of CFDs to choose from on Plus500, but as an investor you’re still a bit limited.

    In terms of versatility within your CFDs, however, Plus500 shines bright. Here is a quick comparison that help 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 

    The registration and verification are one of the strongest points of Plus500. It’s all so easy.  

    Good

    Bad

    • very easy and straightforward
    • demo account with no time limit
    • low minimum deposit amount
    • intuitive interface
    • night view looks nice
    • nothing fundamental

    The Plus500 on-boarding process is super-fast and intuitive. The instructions are clear, easy to follow and they work smoothly.

    Registration

    You are first invited to create an account with two basic credentials – email and a password. It takes about two minutes.

    Note, that Plus500 is open for business for residents of more than 50 countries, including most of Europe and AE. There are some exceptions, though, most notably Belgium and the United States.

    Once registered, you’ll end up on a pretty straightforward interface where you’ll have access to your personal stats and basic trading functions – we’ll come to that later.

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

    Demo mode

    There is one thing you might want to explore before your first deposit. The so-called demo mode is a particularly valuable feature. It works as a replica account within an account but with one important distinction – you’ll receive 40,000 virtual euros to trade without any risk or time limit. Demo mode is a great playground before jumping into the game with real-life money and even more tangible risks.

    Snapshot of the trading interface

    Verification process

    Before you’ll be able to make deposit, however, Plus500 will perform identity and residential address verification. The wording is pretty self-explanatory: new account holders are required to provide proof that they are owned by real and truthful people. Along with a standard ID, you might have to send over your bank statement, electricity, phone or internet bill.

    Here is a grabscreen of the first step of the verification process:

    6. Web Trading Platform

    Trading on Plus500 will satisfy the beginners and advanced users alike.

    Good

    Bad

    • user-friendly
    • good search function
    • available in 30 languages
    • limited customization

    As a web trading solution, Plus500 is fairly easy to use. The graphs, tables and visuals are unambiguous and minimalistic.

    The somehow conservative design has its price though. For instance, customization is still limited but Plus500 has stepped up its game recently. They’ve introduced new tool such as drawing solutions, range selectors and chart types.

    Colored bar funtion

    Line function

    In terms of searching for new trading options, you should find it very easy to track down whatever you need on Plus500. The search works great!

    You can browse between different financial products with the left sidebar or type the product name in manually instead.  

    Placing orders, on the other hand, is an average experience. It includes a guaranteed stop-loss, market order, limit order, stop loss order, and trailing stop.

    Account snapshots bring all the trading info in one place.

    One potentially useful feature is the notification and alert function. You can set up your emails, push notifications and SMS to suit your needs. This particular feature is super handy when your investment strategy is based on reacting quickly to market volatility.

    7. Mobile Trading Platform

    The mobile app is simple and intuitive.  

    Good

    Bad

    • User-friendly
    • clear layout
    • App Store rating: 4.6/5
    • nothing special

    Like most of trading platforms, Plus500 also has a trading app. In line with the general simplicity, the mobile solution is also well designed. We especially liked the clear layout of the charts and graphs which is important on small screens.

    The app has all the features of the web version, demo mode included, and can be used with a smart watch for extra responsive trading.  

    8. Research Tools and Educational Program

    Economic calendar is the highlight, but we miss more detailed instructions for the beginners.

    Good

    Bad

    • Extensive library of technical indicators
    • demo account
    • No educational videos
    • poor tutorial

    Plus500 has been recently criticised in the past for a lack of research tools. However they significantly expanded the collection of available indicators to around 50 which is better than most platform out there. The most common indicators are Bollinger bands, Moving Average and Volume Underlay. The latter is exemplified in the below snapshot:  

    Plus500 also offers a range of drawing tools that can assist you in analysing trends and help you anticipate potential market movements. You can customise your chart view by choosing: chart type, price type and time intervals.

    Perhaps the two most disappointing features of Plus500, on the other hand, are the lack of news and educational material.

    Although there’s a good economic calendar available (as seen in the below image), a great deal of the fundamental data that you might need to make essential trading decisions is missing. There’s no newsfeed to join the well-designed calendar on Plus500.

     And although it’s nice that you can filter the economic calendar for company earnings and macro events – this simply isn’t enough for most people in the system.

    Economic calendar

    However, there is a relatively useful market sentiment tool, which shows the percentage of sellers and buyers at Plus500 and may help you to make some trading decisions.

    In terms of educational options for people who want to learn about trading, the possibilities are also limited to a relatively confused library of short videos. The company only provides a demo account where you can practice your trading strategies before you open a full account, that’s about it. We miss extra guides, blogs and instructions!

    9. Plus500 Customer Satisfaction 

    The customer support is responsive and helpful – one of the best in the industry.

    Good

    Bad

    • Responsive customer support
    • live chat
    • Whatsapp integration
    • No support on the phone

    The customer support is professional and responsive – although it has its share of critics that say the responses are too slow and inefficient. That might be the case in individual cases, but overall the support is above average in the industry.

    Plus500 offer email and live chat on the website and one way or the other you’ll receive answers in one hour. That’s much faster in comparison to other brokers.

    In 2019, Plus500 also implemented customer support over WhatsApp, further simplifying user’s access to the firm representatives. Plus500 has been seen as the first CFDs broker to fully integrate the app within its online 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 which is also available for UAE customers. That means that UAE citizens are allowed to open an account and trade.

    Additionally, the Plus500 platform offers a bonus for customers on their first deposit. The bonus will be eligible for customers as soon as they have reached a certain trading volume.

    The Plus500 UAE platform also offers all of their tools and support in the Arabic language, which is a big plus for people who don’t speak English but still want to trade.

    Plus500 UAE Final Verdict

    And the end, you make the final decision which provider you trust the most. Plus500 is obviously not the only one on the market. However, it’s safe to say that it is a reliable and trustworthy company. It’s widely regarded as one of the best possibilities especially for new traders who want to get involved with CFD trading.

    Plus500 is also very easy to use and intuitive. Both the web-based platform as well as the app offer above-average user experience. They are straightforward and uncomplicated to work with.

    We would also like to point out the relatively budget-friendly nature of Plus500. The companies don’t charge any commission related to trading – their business model is based almost entirely on the spreads which are also competitive.

    Although Plus500 has significantly improved its arsenal of tools for technical analysis, it still lacks proper educational material and research features.

    But since this is probably its biggest downside, it’s safe to say that Plus500 has far more advantages than drawbacks. We recommend it!


    Comparison between the Plus500 platform and other brokers here:

    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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