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Plus500 Review

Easy to use and reliable Forex broker.

Overall rating =
Minimum deposit
$100
Easy-Forex Broker Review
Pip and spread value
5/5
Usability
5/5
Features
4/5
Customer support
5/5
Reliability
5/5
Trading tools
5/5
Reviewed by: Breadwinner
Visit Easy-Forex

Plus 500 is based in London and regulated by the Financial Services Authority (FSA). It is among the largest dealers in Europe and regularly conducts high trade volumes. The historical performance and reliability of Plus 500 ranks it up among the most consistent performers.

Plus500 offer a proprietary trading platform with advanced technical tools for greater insight and analysis. A free, unlimited time demo account is available to help understand how trading works at Plus500. The user friendly trading interface makes it easy for new traders to quickly get to know the system.

The platform is available via the web, a downloadable client or mobile application and in 20 languages. Unfortunately, Plus 500 do not accept US based traders, if you are based in the USA please try eToro instead.

Summary of features:

  • Zero commissions and no fees
  • Free time-unlimited demo trading platform
  • High Leverage - up to 1:50
  • Advanced Technical Analysis Tools
  • Real-time live streaming quotes
  • Start with as little as $100
  • Low Forex Spread: EUR/USD 2 pips
  • Trade Stocks, Forex, CFDs, Indices, Oil and more
  • Fund your account by credit card or wire transfer

Click here to start trading with as little as $25 today

All relevant trading information is accessible from within one screen. The labeled tabs make it easy to bring up historical trade information and current positions. However, the charting software limits itself to showing individual charts only. This is definitely an advantage for new traders, but experienced traders may feel it is too simplistic as they are familiar with analyzing multiple charts on the same screen.

Trading itself is straightforward and remains consistent in all available formats and across the different trading markets available. Whether your preference is for trading Forex, stocks, indices, CFDs or ETFs, Plus 500 makes the process easy. The real-time live streaming quotes are great, but like most trading platforms the quote you see is not always the quote you get. The fast execution times help minimize slippage issues but won't eliminate it completely.

Customer support is available 24/7 through email and Fax, but not through telephone or online chat. This is an area where they can improve and should look at offering online chat support. The main redeeming feature is support is available in 20 languages and issues are generally dealt with promptly.

Plus500 Trading Platform Screenshots (click for large image)
  • Fixed Spreads

The fixed spreads mean Plus 500 can be great for specific trading styles such as scalping and news trading. There are no hidden fees and trading turnaround time can be as quick as a few seconds. This makes it ideal for traders who thrive in such markets. In addition, a stop loss, trailing stop or profit limit can be entered with every buy order. This helps protect your trading position and safeguard against rapidly changing market conditions.

  • Funding Accounts

Funding an account is easy and straightforward. The three available methods of funding are by Visa or MasterCard, MoneyBookers and Wire Transfer. The fastest method is by credit card. Once the funds are deposited you can begin trading right away. In contrast, deposits via wire transfer can take a few days to clear. This is typically three working days, but is equally as safe and secure as funding with a Visa or MasterCard. Plus 500 provide generous bonuses for the initial account funding and these vary depending on how much is deposited initially.

  • Withdrawing Funds

Withdrawing money is straightforward as well, but does require presentation of official photographic ID. Any official photo ID is acceptable and is usually a driver's license or current passport. This is a regulation requirement from the FSA and withdrawals can only be made after ID is seen. The information does not need to be sent through the post as it is acceptable to send it via email or by uploading a PDF document.

  • Plus 500 Promotions and Bonuses

Plus 500 offer attractive promotions and bonuses, especially when initially depositing funds to an account. Currently they offer up to 30% bonus on your initial deposit. This is on top of the free 25 to trade Forex without needing to make a deposit. When adding in the unlimited time demo account and free real time quotes it makes for an attractive offer.

Click here to claim your free no-deposit bonus of $25

Summary:

Plus500 offer an easy to manage trading platform that is ideal for beginners. The unlimited time demo account makes it easy to learn the system and understand how trading works. It is relatively low cost to get started and adding funds or withdrawing funds is convenient and hassle free.

It is an excellent choice for non-US traders and serves as a great way to get into trading. The tight spreads are appealing for experienced traders as is the ability to trade multiple markets. Plus 500 are regulated by the FSA, but there are inherent risks with trading and regulation does not offset these risks. Overall, when it comes to trading systems, Plus 500 is one of the easiest to use and understand.

Click here to start trading with Plus500

 

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