A Brief Synopsis of Plus500
Plus500 is a leading forex broker in the UK that offers one of the most remarkable brokerage services across Europe, South America, and Asia. Showcasing a wide variety of trading instruments through a seamless trading platform, Plus500 has received numerous awards and acclaims within a short span of time.
Launched in 2008, the company is headquartered in Israel but has its main offices in different parts of the world, including the UK, Cyprus, and Australia. Plus500 is a broker that is dedicated to building a brand image through extensive advertising and attractive bonuses, which in turn reflects in the company’s success within the trader’s market. We attempt to uncover the nascent features of the broker by performing a comprehensive Plus500 review.
Is Plus500 A Regulated Broker?
Plus500 is one of the few brokers that take the matter of licensing and regulation seriously. The broker is currently regulated by the FCA, CySEC and the ASIC, which makes it a fairly reliable broker to trade with. A strong European regulation ensures that traders from all over the globe, except the United States, can open an account and trade using the Plus500 trading platform. The lack of regulation or licensing from the CFTC hinders the company’s ability to entertain clients from the US, but the stringent CFTC rules and trading standards have a negative effect on most brokers who wish to market to clients in the US. However, Plus500 receives brownie points for being committed to the safety and security of their clients’ funds and are known to safeguard the interests of their traders.
The Different Financial Instruments Available at Plus500
Plus500 excels in offering the most diverse range of trading instruments from financial markets across the world. Plus500 offers CFDs on Forex, shares, indices, commodities, ETFs and Options. Unlike most forex brokers, Plus500 offers over 2,000 financial instruments within their award-winning platform. This is indeed a great indication of the company’s willingness to help their clients in diversifying their investment portfolio by exploring the different financial instruments on offer.
Spreads, Leverage, & Other Account Information
Plus500 offers only a single account type that starts with a minimum deposit of $100. Of course, there is an unlimited demo account that offers the chance for potential clients to sample the Plus500 platform before actually depositing real money into a trading account. The single account type is actually a great feature, considering the fact that clients are not burdened with complex choices or having to choose an account type according to the features on offer. Having a single account type also ensures that every client is treated equally and impartially, which is why Plus500 continues to be a favourite among loyal traders.
The typical spreads at Plus500 are as low as 2 pips for major currency pairs, and the broker is known to offer one of the most competitive spreads in the market. They also don’t charge commissions on trades, as all spreads are incorporated into the market price. As far as leverage is concerned, Plus500 offers a maximum of 1:294, which is not as big as some of the more advanced brokers, but it can magnify both your profits and losses.
Traders can deposit money into a real trading account through credit cards, bank transfers, or Skrill, and all client funds are held in reputed banks using segregated accounts. This ensures the safety and security of client funds, which is indeed an important aspect of choosing a reliable broker.
What About The Trading Platform?
The company has an excellent trading platform that has been designed with the trader in mind. The minimalist, yet functional trading platform was developed by an in-house team of experts who are aware of the rigorous requirements of traders in general. The trading platform is flexible and scalable, which allows Plus500 to modify the platform according to user’s needs. Traders can choose between a desktop application, a web browser, or an app for mobile devices or smartphones. The trading terminal offers a wide variety of information at a single glance, without having to switch between multiple windows for gathering useful information.
Do They Offer Good Customer Support?
Plus500 is a customer-oriented company that takes care of its clients by offering an industry leading customer support system that can be accessed through email or live chat. Plus500 offers localized support in 30 languages to clients in over 50 countries, and traders can expect a response within 30 minutes of contacting the concerned department. Plus500 also offers 24X7 support, unlike other brokers that only offer 24X5 support.
Are There Any Incentives For Opening An Account?
Plus500 Bonus is offered through a tiered system, as it is directly related to the initial deposit amount. An initial deposit of 100 € will get traders an additional 30 € bonus while an initial deposit of 50,000 € will be eligible for a 7,000 € bonus. Bonus can only be withdrawn after completing the required TPoints, which will be accrued by trading certain fixed lots. Plus500 is better than most of the peers in this regard, as they offer one of the most attractive bonus packages according to the initial deposit amount.For all bonuses T&Cs apply ( Terms and Conditions apply ).
Is Plus500 A Good Broker To Trade With?
Plus500 seem to tick all the right boxes when it comes to trading the financial markets. The broker offers an excellent trading platform, a wide range of trading instruments, good leverage, low spreads, competitive bonus packages, low initial deposit, and most of all, a good customer support department. Plus500 is certainly one of the top brokers in the industry to watch out for.
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