Plus500 – The Best Forex Broker?
Read our Plus500 Forex broker review below...
...Plus500 is one of the biggest names in CFD trading. CFDs, including 50+ Forex CFDs, are the only products that Plus500 offers. With customer service available 24/7 and a full web-based platform, this is a good provider for those starting out who want to keep it simple.
The company operates through several regulated subsidiaries, including in the UK, Cyprus, Singapore, Australia, and Bulgaria. Interestingly, Plus500 is listed on the London Stock Exchange, which suggests that the broker is transparent.
Well regulated broker
User-friendly trading platform
Platform desktop, web and mobile
Wide range of currency pairs
Less resources for new traders
No telephone customer support
Platform limited to regulated jurisdictions
Limited product portfolio, only CFDs
Absence of social trading features
Plus500 is Plus500 UK limited that was founded in 2008. It’s headquarter is based in London, England. It was launched as Plus500 trading machine and regulated by FCA and MiFID. Plus500 is licensed and regulated in many countries, including the European Union. Although it is one of UK’s top forex trading platforms, it does not accept US trader clients. It has a maximum leverage of 1:300 and offers trading instruments like metals, oil, gold, stocks, cryptocurrency, commodities and ETFs and CFDs.
It has a No Deposit Bonus as well as Bonus for First Deposit. It also offers A Demo Account where traders can practice his trading before really going into the real trade. Besides all of these, Plus500 allows traders to open Mini Account for traders to control the risks that the forex market has. It is their way of minimizing compulsive trading which are often the mistakes of many traders. In addition, Plus500 is not a forex trade maker unlike many forex trade brokers as it does not have dealing desk. Although it offers trailing Stops and Guaranteed Stop Loss, it does not support and allow forex scalping. It has web-based platform and mobile apps and support OS such as Mac, Microsoft Windows, Web, iPhone and iPad. Most of all, Plus500 is proud to be a no commission forex broker.
It uses the Plus500 platform and allows trade with 50 currencies including the major pairs USD/EUR, USD/GBP, USD/JPY, and USD/CAD. However it does not support automated trading and chart trading. Plus500 platform is easy and simple to follow and any new or beginner traders can easily walk through its unregulated places and make money. Traders like a good spread and it is floating here and averages 2 pips. It has platforms in different languages such as Arabic, Chinese, English, Greek, German, Italian, Malay, Polis, Norwegian, Danish, Czech and Croatian.
Foremost it is a NO DEPOSIT and traders can open a Demo Account before going into the real thing. Traders just open an account to get the bonus and nothing more. Once you open a real account, that’s the time to choose for a Mini or regular account. For real account it accepts credit cards, PayPal, Wire Transfer and Skrill. For withdrawals, traders use what they have for deposits like credit cards, Wire transfer and Skrill. A simple click to the «withdraw» button is all it takes to get your money. To withdraw funds, you will need to provide some documents for identification, this is normal practice for every broker, so do not worry.
It has a 25/7 customer email support for its clients and does not have telephone support. To make up for this, they have large based of language support for Arabic, Chinese, English, Italian, German, Danish and Hebrew speaking traders, Japanese, Korean, Bulgarian, Dutch, Croatian, Norwegian and Malay.
It looks like that Plus500 advantage over the rest is their NO Deposit Bonus. With something to start your trading not out of your pocket is what makes Plus500 a winner. Its First Deposit Bonus doubled up this advantage. It is a simply no cash layout for one to get stated with his forex trading. This is something that a forex trader, professionals or beginners would simply not miss.
Plus500 FAQ on the broker
1 Is Plus500 a regulated broker?
Yes, Plus500 is regulated by CySEC, FCA, ASIC, FMA, FSB, MAS in United Kingdom and others.
2 What trading platforms does Plus500 offer?
Plus500 offers the full suite of Web, Mobile, Desk.
3 What is Plus500 maximum leverage?
Maximum leverage at Plus500 is 1:300.
4 What methods can I use to deposit and withdraw funds on Plus500?
Deposits and withdrawals with this broker can be done using these methods: Maestro, Visa, Mastercard, AmEx, Neteller, Bank Transfer, PayPal, Skrill, iDeal, GiroPay, Przelewy24, Trustly.
5 What is the spread of the Plus500 broker?
The spread for this broker is on average Plus500 is 0.6 - 2 pips.
6 What’s the minimum deposit to open a Live account at Plus500?
The minimum deposit to open a Live account is 100 USD.
7 What cryptocurrencies are available at Plus500?
In this broker are the following cryptocurrencies for trading: BTC/USD, ETH/USD, LTC/USD, XRP/USD, XLM/USD, EOS/USD, BCH/USD, XMR/USD, NEO/USD, Crypto 10 Index.
8 In what currency can I open an account with Plus500?
With this brokers you can open an account in currencies: USD, EUR.
9 What Trading Instruments are available at Plus500?
On Plus500, you can trade financial instruments such as: Forex, Commodities, CFDs, Crypto, Stocks, Options, ETFs, Indices.