Products: Plus500 offers CFD trading with Shares, Forex, Indices, Crypto Currencies, Commodities and ETFs from 20 countries
Fund your account with: Debit/Credit Card, Paypal, Skrill or Bank Transfer
Being established since 2008 Plus500 is a well-recognised and trusted financial trading platform that is easy to use for if you are already familiar with online trading. The company is publicly traded on the London Stock Exchange with a value of $1 billion and is licensed in 3 well respected jurisdictions including the FCA and CySEC. The company’s goal is to be the number 1 CFD trading company and they are well on their way to achieving this as they have several million customers and increasing.
SPECIALISING IN CFD
Plus500 specializes in CFD options with 2,000 CFD options available to trade on shares, Forex, commodities, and indices from 20 different countries. With this variety of markets to trade you will find every type of market that you looking for. You can even trade on the price of crypto currencies such as Bitcoin. Because of the nature of the leveraged CFD product most traders using Plus500 are making shorter term trades to trade markets without having to buy the underlying shares or instruments.
The platform itself - both the browser based and the iphone/ipad/android/windows phone apps - is very straight forward and intuitive to use. Unlike many trading platforms that are overly complicated, the format of the Plus500 platform looks simple but there is also all of advanced functionality available that you would expect with a top financial trading service provider. This means the platform is well suited to both novices and experienced traders. The charts are very clear and show the opening rate, current sell rate and profit close lines based on your limit and loss settings, making it very easy to track your trades performance.
GREAT AUTOMATIC FEATURES
Key features of the trading software include stop limits, loss limits, guaranteed stop and trailing stop which automatically updates to lock in profit as the market moves in your favour. For example: you buy an instrument at a rate of 1.5 and set a trailing stop of 5 pips and each pip is equal to 0.1, when the instrument rate rises the trailing stop value is locked in to the rise. Therefore, if the rate changes direction over a period of time and drops by 5 pips, the position will close automatically. These features make it easy set up your trades with the confidence that your positions will be closed out in accordance with your trading strategy.
LEVERAGE UP TO 1:200
The majority of Plus500 markets can be leveraged up to 1:200. For example, a $5 balance leveraged by 1:200 increases to $1,000. This allows you to trade up to $1,000 of instruments and with such leverage capabilities it makes it possible to benefit from the price movements throughout the day.
In terms of customer support, Plus500 doesn’t offer live chat support like most trading sites but that is testament to the ease in which traders can familiarize themselves with the simple platform and trading functionality. They do offer email support with very quick response times of typically 30 minutes.
The site is free to join and there are no commission fees associated with a winning or losing trade. Plus500 makes their money based on a spread only basis which is applied when opening a position in the market. The spread is small typically just a few pips. Apart from the spread the only fees applicable are a funding premium for positions held overnight.
The area I find to be Plus500s weakest is that there is not much material available in terms of training on trading strategies and tutorials like you typically can find with some other trading brokers. You would need to research and find this information on other sites if needed. But all things considered this site is recommended because it is the easiest to use and a good company to place trades with as they have many strong points such as the huge amount of languages and currencies supported.
DEMO MODE + 25 EURO WELCOME BONUS
I would recommend signing up using the Demo Mode functionality which gives you a no risk way to test the site and get familiar with placing leveraged trades. The Demo Mode works in exactly the same way the Real Money mode does; or alternatively you can sign up and trade with the free 25 Euro bonus that is offered to new customers at registration.
Plus500U K LTD is authorized and regulated by the Financial Conduct Authority as well as by the Cyprus Securities and Exchange Commission.
Click here to try the Plus500 demo mode and receive the 25 Euro welcome bonus.