Welcome to our Plus500 review website, throughout this article we will be reviewing the entire plus500 website of all its features and to see if Plus500 is indeed one of the best FOREX Brokers.
Plus500 was established more than ten years ago with headquarters in the UK, but only obtained regulation recently from the FSA or Financial Services Authority. Plus500 have a trading platform and a website with clear-cut design to offer Forex traders a pleasant experience, especially the beginners. Considering that Plus500 has years of experience and approved certification, it is not really surprising that they are regarded as one of the best Forex brokers nowadays so keep reading for a full Plus500 review.
If you are a trader, then you are aware that almost all the big brokers like the Forex Club and eToro are offering a number of trading platforms, but Plus500 is offering just one. Even though this could be a discouraging factor for most traders who might want a specific platform such as MetaTrader 4, once they check out this one platform it will be easier for them to see why this company is ranked among the leading Forex brokers.
The Plus500 trading platform is actually created in-house and comes in three versions: downloadable, mobile and a web-based trading interface. One of the things which make this particular platform so unique is that as opposed to the ones offered by the other brokers, Plus500 is providing something that is continuous in all the versions. This means that it is easy to switch between the different platforms and never have to regroup.
Continue reading our Plus500 Review Below:
All the essential information will be provided on the plus500.com trading platform on just one screen which means that you don’t have to scroll in order to find information. You can find four tabs with clear labels at the top section which make it possible to get details about previous trades and existing positions without searching for it. One of the things which makes it obvious that this platform is specially designed with the new traders in mind is the lack of ability to look at multiple graphs and charts at the same time, which is offered on other platforms. Nevertheless, Plus500.com has a pleasant and wide-ranging trading experience for individuals who have a preference for the trading platform without the frills.
Even though Plus500 is not offering an abundance of features like some of the other top brokers, some of them are worth mentioning. Perhaps the most useful features noted immediately while viewing the free demo would be that traders will be allowed to practice as much as they want. Although it’s not uncommon to see free demo with unlimited time, this is something that is always appreciated and welcome.
There is also a small learning center offering basic information to help traders understand how Forex works. One of the major advantages of this learning center is that traders are provided with practical examples which goes directly to the matter at hand and can help to verify their information. On the flip side, traders who are seeking more in depth educational resources have to check elsewhere to get more comprehensive details.
The platform is available for anyone to download, as long as they have Windows 7, XP and Vista. With a trading capabilities that you can refer to as multi-asset, the platform makes it possible for trading in forex, stocks, indexes and commodities. This particular feature is very important for traders who don’t want to limit their investments to forex.
Convenience of Plus500
When you compare Plus500 to other brokers, you will discover that you are getting a trading platform and a website that is very straightforward, although they are not offering a lot of resources. But, this could be a good thing for traders who want to dive in without being distracted by side-line information.
Plus500 Customer Service
Traders from around the world can get customer support via email or fax 24 X 7 in multiple languages. But, customer support is missing the online chat feature, which is actually one of the drawbacks. Most traders want live chat support because it is one of the quickest and least expensive methods of communication.
When it comes to Plus500′s payment method, this can be made via wire transfer, credit card and MoneyBookers. These payment methods will make it easy to set up an account in no time. As a registered user, you are able to transfer funds to your bank account using the online services. This company maintains good relationships with top banks across the world. This lets traders to gain from advantageous pricing and efficient execution of orders. But, there are many other positives and negatives for this company.
Our Plus500 Review will now look at the positives and negatives of the plus500 platform:
- Free money without having to make a deposit
- Efficient order execution
- Limited spreads and zero commissions
- Trade Forex, indices, stocks and commodities with one broker
- Quick payment methods via credit card, wire transfer and moneybookers
- Super user-friendly software program with superior functionality
- Takes minutes to open account
- Withdraw profits easily
- Does not support trading robots
- Lacks support for Meta Trader 4 as well as other alternative party platforms
- Lacks live chat customer support
Lower spreads and a leverage of 200:1
Plus500 is offering limited fixed spreads without charging a commissions or any other costs. The low spreads will also be available for the low volume traders, meaning that the prices are favorable when compared to other brokers. With leverage of 200:1, this will provide opportunities to get higher profits but remember that leverage also has the risk of big losses.
The multi-asset platform allows for trading in commodities, forex, stocks and indexes, which is a big plus. Most Forex traders don’t want to limit themselves and love the possibility of using one broker and platform to carry out various trades. With an interface that is extremely user-friendly, this company has managed to smooth the way for novice to enter the market and offer advanced functionality for advanced traders as well.
In conclusion, Plus500 will be a good option for both novice and experienced traders. This broker comes highly recommended because of the user-friendly platform, wide-ranging options and favorable pricing. What’s more, the free money that is offered for anyone who opens up an account is certainly a nice touch! From doing all this research into Plus500 we can safely say that plus500 is not a scam and is in fact a solid trading platform.
We hope that you have enjoyed reading our Plus500 review, please remember to give your own Plus500 review at the beginning of this review or if you think plus500 is a scam then please share your story.