Plus500 is among the world’s leading brokers for CFD, or contract for difference, trading. Founded in 2008 and holding a valuation of over $1 billion USD on the AIM section of the London Stock Exchange, Plus500 offers years of real market experience and a large host of assets to its users. This review will take a look at some of the key features of Plus500’s platform, support, and bonus program in order to help interested traders determine whether or not the firm is right for them.
The most notable feature of Plus500’s platform is the wide range of assets that can be traded as CFDs. Individual stocks, indices, Forex currency pairs, basic commodities, options and ETFs may all be traded through the Plus500 platform. This allows traders with experience in a wide range of different markets to successfully trade on the platform using their knowledge of the assets they are most familiar with. The wide range of assets also protects traders from uncertainty in one market, as there are always others to enter during periods of increased volatility.
Another noteworthy feature of the Plus500 platform is the high degree of leverage that it offers. Leverages vary by asset, but are all substantial, ranging from 1:100 for ETFs to 1:300 for indices. With such high leverages, traders who do not have large amounts of capital to invest can still open substantial trades. The higher leverages offered by Plus500 also make it a great platform for more traditional investors who want to see if CFD trading is for them without risking a large initial investment to find out.
High leverage increases risk. Losses can exceed initial deposits when leverage is taken.
Unlike some CFD brokers, Plus500 makes its money purely on spreads in the style of a Forex broker. This means that there are no per trade or withdrawal fees. This system, combined with very tight spreads, allows traders to make lower margin trades without worrying about having their profits wiped out by a per trade fee greater than their overall earning on the trade.
The Plus500 trading platform is both simple and easy to use. Positions can be customised and opened easily with just a few clicks, then viewed in an open position window while further trades are executed.
Easy to read graphs are presented along with every financial instrument to help traders determine market trends and properly invest their money. The platform’s simplicity and ease of use makes it quite beginner friendly while still providing the data that traders need at their fingertips in order to be successful.
The trading software also allows traders to make use of risk management tools such as stop loss points and price alerts to ensure traders can limit their risk. This is very important when using leveraged financial products.
The same platform is available in both desktop and mobile versions. Traders may access Plus500 on any PC or Mac computer, as well as smartphones using iOS, Android or Windows systems.
Plus500 offers 24/7 customer support via email. Support representatives are trained to handle a wide range of inquiry types, from deposit and withdrawal issues to technical difficulties, in a timely and professional manner. In addition, Plus500 offers a fully functional demo account service. This allows those who are new to trading the opportunity to execute real time trades without risking any money, thus learning about both CFD trading strategies and the platform itself. A demo account can be switched to a live trading account with only a few clicks, allowing demo traders to begin using real money in trades whenever they are comfortable doing so.
Deposit and Withdrawal Methods
Deposits and withdrawals may be made using a credit card, Skrill or Paypal account, or wire transfer. A minimum deposit amount of £100 or equivalent in your local currency is required, with no withdrawal minimum.
Plus500 offers a £20 welcome bonus for new traders, even before a new account is funded. As an additional incentive to sign up, a substantial trading bonus is offered on a trader’s initial deposit. This bonus can range from £20 on an initial deposit of £100 up to £6,000 for larger deposits. This initial deposit bonus is one of the most generous bonus programs offered by any CFD, binary options or Forex broker site.
Validated phone verification is needed to qualify for bonus, and specified minimum volume of trading prior to being able to withdraw it. T&Cs apply.
Plus500 is one of the most trusted and well known of all CFD brokers. With 7 years of experience, over one million users worldwide, and a 24/7 support staff, it is an extremely trustworthy broker. The Plus500 platform offers a huge array of financial assets for trading, high leverages, and excellent risk management tools, making it ideal for traders at any level. Mobile versions of the platform for all major smartphone operating systems also allow traders who are on the go to continue executing trades. To top it all off, a very generous initial deposit bonus of up to £6,000 gives traders an extra reason to use Plus500 for all of their trading needs. Overall, Plus500 is an excellent trading platform for both beginners and seasoned trading experts.