Plus500 is one of the most reindustrialize brokers that aim at trading with a wide range of marketers. This broker is approved by the Financial Conduct Authority (FCA) and has been in the forex and CFD trading since the year 2008. Plus500 has enrolled in the U.K. The biggest advantage is relatively low spreads and zero commissions.
According to Plus500 review, the broker also lets you enter a complete stock line, and it includes forex, stock indexes, properties, assets, cryptocurrencies, ETFs, and many other options. It is also the first broker that started a Bitcoin CFD in the year 2013. One added benefit is it never charges any fees on any of its trades. Expenses will be contained for more than 2,000 trading devices that are offered on its Web Trader platform.
Plus500 Ltd is one of the most trusted publicly-traded companies that are serving more than 50 countries around the globe, with a £1.73 billion ($2.25 billion) industry capitalization.
Disclaimer: CFDs always carry a big risk of losing money as it is a very complicated instrument and because of its leverage. Almost 76.4% of investors from retail reported that they have lost a huge sum of money while utilizing CFDs with this broker. To use CFDs, you need to have a strong knowledge of how it works, or you need to take a high risk of losing money.
Pros & Cons of Plus500 Platform:
- It lets you access more than 2,000 trading tools
- A very easy-to-use platform for traders
- Trading fees are low
- Cryptocurrencies (Bitcoin, Ethereum, and other) are accessible
- There is no withdrawal fee
- It has a limited product portfolio (CFDs & forex)
- Less number of research tools
- Mid-range tutorial division
- There are only a few tools
- Plus500’s Web Trader is different from other trading tools or platforms
- You have to pay inactivity fee if not logged in for three months
Plus500 broker offers an exclusive platform for trading with a great plan respecting the reputation of the MetaTrader suite of platforms. This platform was designed especially for the novice dealers. Nubie traders can do trading efficiently and operate through various assets quickly. The only problem here is automatic trading is not approved, and third-party plugins are not possible.
However, it would be great if Plus500 offers the MetaTrader 4 platform. MetaTrader 4 is available at most of the brokers nowadays, but it’s good to see that it stands by its policies to offer something solid and exceptional.
Opening an Account at Plus500:
It is a very easy account opening process that is mainly done through online applications. Online applications are standard account opening procedures for the brokerage industry.
- For the initial step, you should have a valid email address and password.
- For easy handling and user-friendly sign-up, you can also use your Facebook or Google accounts.
- After that, for your AML/KYC verification, you have to upload your ID photocopy and proof of residence.
Traders may acknowledge a broker with some of the reliable applications that have high management and connections.
This broker gets its maximum revenue from spreads that are charged on over 2,000 assets. From Plus500 review, we get to know that on this platform, traders can obtain the correct amount from inside the exclusive trading platform. You just need to go to “Details” next to the option “asset.” Few factors, such as splits, corporate activities, and mergers are carried on to traders.
You should remember that if your account gets dormant for three months, an inactivity fee of $10/month will be chargeable. For many traders, it’s more like an irritating fee. However, other brokers may demand more than $50/month as an inactivity charge, so from that point, Plus500’s fee is comparatively low.
Research and Education at Plus500:
Unlike other trading platforms, it does not provide any trader’s guide. So, you cannot expect any training on how to use this platform. It only contains a few videos on the website that may help you to get started, but sadly, that’s not enough for a new trader. However, this broker has a fairly sufficient risk management section to explain how to overcome hazards while trading.
According to many brokers, venerable traders don’t require any training or education because a trader already knows how to do his/her job.
However, Plus500’s platform should increase its educational contributions to help newbies.
Unique Features of Plus500:
It has come up with a bizarre feature with its trading platform, where you will find a wide choice of tradable assets.
This broker has limited customer service options. They have nothing more than an online chat support system that is accessible 24*7. Plus500 does not have a customer care number or call support. If you have any queries or doubts, you need to send it through live chat, or you can send an email to the company email address. It has an inbuilt email ticketing system. Indeed, Plus500 does not have a strong customer service option, but you can expect your response within a few minutes.
The online chat option has an easy interface, but it feels like a Chatbot. However, that is not a problem because the technology is advanced enough to answer any question that has been asked. A human agent can solve your problems faster when required. The software itself links and identifies questions from the resources or FAQ section.
You can also check the FAQ section on the website to enhance your knowledge of trading.
Plus500 is no doubt a reliable broker that works with CFD and forex. As per the Plus500 review, this platform is recommended for traders who are aware of the uncertainties of CFD trading. The biggest advantage is the inactivity fee hits after three months.
The platform is easy to handle with great user involvement. Spreads that are competing, but investment rates are pretty high. As there is no merest balance needed and there is no withdrawal fee above $100, you should feel free to give Plus500 a try.
1: Can Plus500 be trusted?
Ans: Plus500 is one of the most trusted publicly-traded companies that are serving more than 50 countries.
2: How to withdraw money from Plus500?
Ans: First, Click on Funds Management & click to Withdrawal; after that, Select your preferred withdrawal method & fill in the fields and click on the submit button.
3: Does Plus500 use MT4?
Ans: No, The platform does not use MetaTrader 4 (MT4).
4: How Plus500 makes money?
Ans: This broker gets its maximum revenue from the spreads that are charged on over 2,000 assets.
5: Is Plus500 a good broker?
Ans: Yes, the platform is easy to handle with excellent user involvement.