Plus500 is an online brokers that specializes in the forex market. The company, which is registered under Plus500UK Ltd with the registration number #07024970, is based in the UK and is regulated by the British Financial Conduct Authority (FCA). This right away should give you some assurance that the company is reliable and trustworthy.
Unfortunately Plus500.com is not accepting U.S. clients at this time. Thus any traders located in the US looking for an online trading platform should look elsewhere.
For those based in the UK or elsewhere in Europe however, Plus500.com is a great choice. Let's take a look at why in this Plus500.com review.
Plus500.com has two different types of account on offer. These are the demo account, which is free to open and has no time limit, and the 'live account' which has a minimum deposit of $100. This is a very low entry requirement which means anyone can start trading and profiting with this broker.
A nice extra when signing up with Plus500.com is the $20 'welcome' bonus on both types of account. For those investing a little more, additional bonuses can go all the way up to $7,000. Leverage on forex accounts goes up to 50:1.
Elevating leverage can have both positive and negative outcomes but it's good to have the option there.
Plus500.com provides a great trading platform that's easy to get to grips with and rich in features. They also have bleeding edge technical analysis software available for clients.
Among its various advantages, Plus500.com's trading platform allows the trader to trade across multiple markets all from the same screen. It also offers real-time quotes on all products.
Additionally, Plus500.com also enables you to trade commodities, stocks, ETFs, CFD Service and indexes all from the same platform. This saves you having to log-in and manage multiple different accounts and keeps everything nice and straightforward.
The interface is also very easy to use and very intuitive. The trading screen has clearly marked tabs for viewing details, past trades, current positions etc. Charting software is built in meanwhile though you can't see multiple graphs on a single screen.
The trading platform while being all-encompassing, does come in three different versions.
If you only want to use the desktop version you can. However, the option of being able to trade via a browser or on a mobile gives you much more freedom and flexibility – whether you want to be able to trade from a public library computer or while you're on the train through your mobile. This is definitely one of the advantages of going with a bigger and more well-known trader.
When you fund your Plus500.com account you'll have the option of using a Visa or MasterCard credit card, a Moneybookers account or a direct transfer. Again, the range of options is very helpful as this versatility allows you to choose the most practical option for you.
The fastest option here is definitely to use Visa or MasterCard in which case you only need fill out your details and you're good to go. Funding your account via Moneybookers is also very easy though, you only need to choose the Moneybookers option in the 'Funds Management' window and then enter your Moneybookers e-mail address and follow the on-screen prompts.
Finally, depositing via wire transfer is also very straightforward though it can take a little longer – up to three days specifically.
The minimum deposit made this way is £300, while the maximum is £100,000.
Financial Conduct Authority regulation requires that withdrawals be made using an official photo ID such as a passport or driver's license. This helps to keep your account secure and ensures no-one else gets access to your funds.
Other than this, withdrawal is also a speedy process. It will take up-to 24 hours for e-mailed photo ID to be reviewed but from there the rest of the process is speedy and carried out in the same way to deposits.
One of the best aspects of Plus500.com is its excellent customer support which comes in the form of 24/7, multi-language e-mail and fax support. There is no online or telephone support which might be seen as a drawback for some but on the plus side, the e-mail support is very good, very fast and very reliable. E-mail is perfectly fine for customer support so long as there's a fast turnaround and that's certainly the case here.
This great customer service can help to put your mind at ease when you're investing large amounts of money. At the same time, so too does the FCA authorization and regulation which ensures they are following best practices and providing their customers with the best support, best security and most reliable service. Reviews of the company are very good and this track record is something that you don't always get from similar competitors.
Remember too that the demo account is completely free and with no time limit. If you're unsure, then there's no reason not to give it a try and find out for yourself.
Plus500.com is a great option for your online brokers that has a number of great advantages. The trading platform for one is one of the most intuitive and feature rich you're likely to use: being able to monitor multiple markets on the same screen and to trade in commodities, stocks, indexes and more all on the same screen. This makes the system very quick and easy to use while the option to trade through the desktop software, in the browser or on mobile also adds to the flexibility and is very advantageous for traders on the go.
More importantly, the company has a great track record, is fully authorized and regulated and has great reviews. The only downside is that they aren't open to US traders. For everyone else based in the UK and Europe though, this is a great choice with a fantastic online trading platform.Visit Plus500