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Plus500 Review
Plus500 offers diverse financial instruments and a user-friendly platform with advanced tools and fast execution. This review will examine the features, benefits, and drawbacks of signing up with it.
Plus500 offers diverse financial instruments and a user-friendly platform with advanced tools and fast execution. This review will examine the features, benefits, and drawbacks of signing up with it.
Plus500 is a multinational firm providing online trading services for various instruments, such as forex, stocks, commodities, cryptocurrencies, and more. It was founded in 2008 and is headquartered in London, UK. The company operates through its proprietary trading platform, accessible through the web, mobile devices, and desktop computers. Being a publically traded company listed on London Stock Exchange (LSE), it strongly focuses on providing a user-friendly trading experience. The company employs competitive spreads, and flexible trading conditions, making it a popular choice for both newbies and professional traders.
Plus500 is a multi-regulated financial services company operating under the supervision of several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and a few more. These regulatory bodies ensure that Plus500 operates transparently and fairly, protecting its clients’ interests. Regarding business reputation, the company holds positive feedback from its clients for its user-friendly platform, competitive pricing, and extensive range of trading instruments, as evident from its rating of 4.1 out of 5 stars on Trustpilot.
Plus500 offers several account types to suit the needs of individual traders. Here we list the available accounts;
In addition to the above account types, Plus500 also offers Islamic Accounts, which are designed to comply with Shariah law and are free from interest and overnight swap charges.
Plus500 offers a wide range of trading opportunities in forex, stocks, indices, commodities, options, cryptocurrencies and ETFs. The platform allows traders to trade in more than 50 currency pairs, including major, minor, and exotic currencies. In addition to forex, clients can trade shares of major companies listed on various stock exchanges worldwide. The platform provides access to popular indices such as the S&P 500, NASDAQ, and FTSE 100. A range of commodities, including precious metals like gold, silver, oil, and natural gas, are also accessible under the commodities head. Plus500 also facilitate trading options, cryptocurrencies and ETFs. Note that product portfolio may change and vary based on your region.
Plus500 operates on a spread-based pricing model, meaning that the company makes money by charging a spread on the trades its clients execute. The company’s pricing structure aligns with average industry standards, with spreads starting on major forex pairs like EURUSD at 0.8 pips. The company does not charge any commissions on trades executed on its platform. However, you incur swap charges for holding positions overnight.
Plus500 offers a variety of trading platforms to cater to its clients’ different needs and preferences. Available trading platforms include;
Plus500 provides its clients with a comprehensive set of trading tools and features to enhance their trading experience. These include real-time market data, advanced charting tools, guaranteed stop-loss orders, negative balance protection, risk management tools, an economic calendar, and trading alerts. The tools help traders make informed trading decisions, manage risk effectively, and execute trades confidently.
Plus500 offers several convenient options for deposits and withdrawals, including credit/debit cards, bank transfers, and e-wallets such as PayPal, Skrill, and Neteller. The minimum deposit amount is $100, with no fees for deposits made with credit/debit cards or bank transfers. Payments typically take up to 1-3 business days for credit/debit cards and several business days for bank transfers, while funds transferred via e-wallet may take up to 24 hours. The availability of deposit and withdrawal methods may vary based on the trader’s region. However, Plus500 provides a fast, low-cost, and secure way for traders to manage their funds.
Below we present the advantages and disadvantages of becoming a Plus500 customer.
Pros
Cons
Plus500 is a reliable and well-regarded online trading platform offering a range of financial instruments, advanced trading tools and features, fast execution speeds, and secure deposit and withdrawal options. Regulated by several financial authorities, such as the FCA and ASIC, the company ensures transparent and safe operations.
With its user-friendly interface and competitive pricing, Plus500 is a viable option for newbies and veterans. However, you must be aware that all forms of trading carry a risk of loss, and a broker’s performance in the past is not a guarantee for a rewarding future. Hence, we leave it up to you to decide whether or not the broker appeals to you.
