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Plus500 is a popular CFD services provider which offers access to a wide variety of financial instruments including shares, forex, indices, ETFs and options. Plus500 offer tight spreads from as low as 0.01% of the currency pair price for forex pairs. It is easy to start trading with Plus500 with their wide variety of funding options including credit cards, Paypal, Skrill, wire transfers and online bank transfers coupled with their small minimum deposit of $100.
Plus500 is a popular choice amoungst UK traders with no commission on trades, leverage up to 300:1, margins from .25%, no deposit or withdrawal fees and is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Plus500 offer their clients the ability to trade on their mobile devices with their clean, easy to use apps and are one of the few brokers that offer an Apple watch app.
Plus500 offer a single trading platform, their easy-to-use and clutter free Plus500 WebTrader platform. The new 2017 Plus500 platform is intuitive and simple to use. It requires no download and works perfectly from your browser so will work for both PC and Mac users. See our in-depth review on the Plus500 WebTrader Platform here.
Plus500 commenced operations in 2008 and in its 10-year history, it has pioneered some important industry firsts:
Shares, Forex, Indices, Commodities, ETFs, Options, CFDs
US, Canada some Arab and Middle eastern countries
Plus500 Trading Sotware, WebTrader
iPhone, iPad, Apple watch
Plus500 is known for their clutter free, simple and user friendly platform in over 20 different languages. For traders that want to minimise their risk, Plus500 offer a wide variety of risk management features including guaranteed stop loss, guaranteed limit order, price alerts and trailing stops.
Plus500 also offer very competitive fixed spreads. Although Plus500 charge an inactivity fee it is a small amount and only after 3 months of inactivity, basically if you make at least one trade every 3 months, you won't be charged the small $5 inactivity fee.
If you are an active trader you will have no problems, but if you do not plan on making at least one trade every 3 months, you may be charge a $5 inactivity fee.
Plus500 does not allow hedging or scalping which would make them unsuitable for traders that incorporate these methods into their trading strategy. Plus500 is not a DMA broker and do not offer VPS services and also do not allow automated trading activities.
Recently, Plus500 launched a redesign of their entire website, with a much cleaner and modern look. Plus500 offer a WebTrader, a browser based platform and mobile app for both Apple and Android phones. A browser based trading platform is means that both PC and Mac users can use their trading platform.
Signing up with Plus500 demo account is fast and simple and only requires an email address.Prices displayed in the screenshot are illustrative
After you enter your email and password, you will have immediate access to their platform and given £20,000 pounds of fake demo money to test out the platform.
The Plus500 platform is designed to be a user friendly platform and traders will find it easy to view:
Make a trade is quick and simple, just find the instrument you want to trade, for example the euro dollar. You can either search "EUR/USD" in the search box, find it under the "All Popular" instruments tab, or the "Majors" tab under Forex.
Detail trading information is shown to traders after you click on the instrument, details like the overnight financing costs, maintenance margins, trading sessions, leverage offered and unit amounts can be all found here. Traders can also keep an eye on the buy and sell price in the Sell and Buy boxes.
A chart for the instrument is also available and you can set an alert for the euro dollar by clicking the bell icon. Traders can receive a notification via email, SMS or both depending on which a trader prefers.
Clicking the buy or sell button will take the trader to the buy or sell screen. Here clients will be able to decide if they want to add a "Close at profit" and/or "Close at loss" price, which will automatically close the position for the trader if the instruments hits the target price.
Prices displayed in the screenshot are illustrative Clients can also get the added protection of a guaranteed stop to protect against slippage by paying a wider spread.
Clicking the advanced tab will open up the option for traders to place a Trailing stop and also the ability to set an "Only sell when rate is" or an "Only buy when rate is" to execute the trade when it hits a certain level.
Traders can click the "Open positions" tab on the left to see all their open trades and make any adjustments to their traders here.
Clients can contact the live chat from inside the platform and get answers to any questions they have immediately.
As Plus500 is regulated by the Financial Conduct Authority in the UK, they have an established procedure for handling any complaints if the need arises.
The basic process is to first contact their customer services team to see if they can resolve the issue, if not, complaints can be sent to [email protected] or to their Compliance Department at, 78 Cornhill, London, EC3V 3QQ.
If any issues cannot be solved through these channels, complaints can be filed with the Financial Ombudsman Service who are an independent service established to resolve disputes between financial institutions and their customers. The Financial Ombudsman can be contacted here.
Plus500 provide a clear and simple user-friendly platform for traders. Plus500 is an established CFD broker who is regulated by multiple regulatory bodies including the Financial Conduct Authority, ASiC and CySec. Plus500 offer the features you would expect from a professional trading platform including stop loss, limit orders and guaranteed stop losses.