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Fx Broker Review

Plus 500

Profitable investments need you to use a broker that aligns suitably with your specific investment goals, learning style, and educational requirements. Particularly for the new investors, choosing the best broker who can fit in your requirements can make the difference between an annoying appointment and an exciting income. While there is no sure-fire method to guarantee your investment return, you can set yourself for great success by choosing Plus 500, one of the best online and well-known brokers. Headquartered in Haifa, Plus 500 was found in 2008 by a team of 6 people including Shimon Sofer, Shlomi Weizmann, Omer Elazari, Elad-Ben-Izhak, Gal Haber, and Alon Gonen.

Plus 500 is a trusted and safe service that offers a big portfolio of over 2000 instruments. It is a CFD broker for many financial instruments and products like Forex, cryptocurrencies, shares, options, ETFs, commodities, and indices. Plus 500 offers a platform that is efficiently laid out and is simple to use. It ensures that everything is easy to use and access. Everything is labeled on a comprehensive screen and it has options to have a look at your current positions and past trades.

Pros

  • Simple to use platform
  • Low Spreads
  • User-friendly platform
  • Account opening is easy and fast
  • Instant deposits
  • 24/7 available customer services
  • 2-factor authentication for user’s safety

Regulations

Plus 500 is regulated by the Financial Conduct Authority. Hence, it is allowed to work in most of the European countries. The broker meets all the high standards when it comes to user protection and capital support, which makes them a highly trustworthy and reputed online broker. Plus 500 is also listed on the main market of the London Stock Exchange as a reliable and safe provider.

Desktop Platform

Plus 500 has a simple trading platform with a user-friendly interface. This platform is available in nearly 30 different languages to make it accessible and understandable for users around the world. Its search function makes it simple for the traders to easily find out anything.

The login process of this platform features two-factor authentication along with Google and Facebook authentication, making it safe for the users.

Mobile Platform

Plus 5000 as a super simple and easily accessible mobile app. Similar to the desktop version, the app is also easy to use. Now you can trade on the go with Plus 500’s app comfortably and conveniently.

Opening An Account

Opening an account is quite simple on Plus 500. Just follow the steps below to open an account:

  • Fill your email ID and password first
  • Verify your contact number to verify your identity
  • Before depositing, complete a questionnaire
  • Fill a small form with your details like full name, address, date of birth, and country of residence
  • Answer some questions about your own financial circumstances
  • Answer some questions about your trading experience
  • Deposit funds to start trading

Types of Accounts

There is only one account type on Plus 500. However, you can open a professional account that offers you higher leverage. The leverage for retail accounts are for Crypto – 1:2, for shares – 1:5, for Commodities – 1:10, for Indices – 1:20, and Forex – 1:30. However, with professional accounts, the leverage for Indices and Forex will be 1:300, for Crypto and Shares will be 1:20, and for Commodities will be 1:150.  

Products/ Markets

Plus 500 offers an extensive range of markets for CFD trading. Plus 500 lets you trade Indices, Shares, ETFs, Commodities, and even Cryptocurrencies.

Shares

Since shares based CFD trading is famous across the world, you can trade most of the active shares on Plus 500.

ETFs

ETFs measure the performance of indices and include commodities and large indexes.

Indices

Plus 500 provides an extensive range of indices for the traders of varying levels.

Commodities

Anything of value like gold, oil or wheat comes under commodities. You can trade a wide variety of hard assets on Plus 500.

Cryptocurrencies

Plus 500 offers many different cryptocurrencies to trade. This new form of assets is highly volatile.

Options

A big selection of options is available for trading on Plus 500 platform like the UK 100, Apple, and Deutsche Bank.

Trading Fees

Plus 500 has a quite low trading fee as compared to the other platforms. It does not even have a commission. The users of Plus 500 just need to pay a spread, the difference between buy and sell rates. Calculating a spread is not difficult, and the traders will have to pay it when opening any position and you will not incur any fee or charge.

Plus 500 Education

Currently, Plus 500 does not have any educational videos or tutorials. It lacks in the areas of educating its users. However, the users get an option to open a Demo Account but they will have to find their way to it by themselves. Opening and using this demo account is a good option to be on the safer side. Every user of this platform gets the option to open a demo account. Moreover, every demo account is offered with $50000 virtual credits, which can be used to try as well as test this platform.

Customer Service

This platform comes with outstanding customer support that you can reach with email or live chat. Both of them are fast and dependable. With email support, you can get a reply within an hour of your query. All replies are relevant and helpful.

Conclusion

Believe it or not, Plus 500 has become one of the most used and popular platforms around the world for CFD trading. With outstanding customer services, simple-to-use interface, superb deposit/withdrawal deals, and top security, it is the topmost platform in Europe. Plus 500 has a range of markets/products, quite close to what the other famous platforms are offering. Trading on this platform is straightforward and simple, making it a great option for online trading.

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Plus500
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