Plus500 Review

TopOption Review

Deposit: $100
Payout: 85%
Max Bonus: $2,500

Plus500 is one of the most popular forex brokers in the trading world. With their headquarters situated in the United Kingdom, they offer their services to forex traders in all corners of the world other than those in the US. The fact that this forex broker has a client pool comprising of more than a million individuals speaks volumes about the quality of their services.

Plus500 mainly deals in forex trading, but lets you make trades on other assets as well such as commodities, stocks, indices, ETFs and CFDs. The financial instruments are offered in a huge range that exceeds thousands, so you do have a lot of choice. Here is a quick review.

Key Highlights

  • ESA regulated forex broker
  • Positive review on most websites
  • Low fixed spreads
  • Impressive forex trading platform
  • Wide range of financial instruments
  • Web and mobile trading platforms
  • Free demo account option

The Trading Platform

If you review other forex brokers, you would realize that most of them offer multiple trading platforms. Plus500 differs in this regards, and only has one platform on which you can easily make a trade. For traders who only like to use specific platforms like the MetaTrader 4 platform, this can be a blow. Despite this fact, this broker has still received a very good review. The reason behind this is that their platform is extremely impressive and is definitely worth a try.

Available in three different forms, downloadable, web based and mobile, the Plus500 platform offers you convenience and portability. Though it is available in different versions, all of them are identical and bear the same features, and so it is easy for you to switch between them whenever the need arises.

The platform lets your review all vital information on a single screen. Tabs located on the topside of the screen easily let you gather any details you want without having to conduct extensive searches. The new traders will particularly find the platform very useful for their first time forex trading experience.

Main Features

If you compare the review of Plus500 with other online forex brokers, you would realize that they offer many features that make them a preferable choice provided you are not in the United States. A prominent feature is the free demo account. You can trade using this option without paying any fees and can avail it for as long as you like and as many times as you want. If you are new to the trading world, this can be highly beneficial to you.
There is also an educational section on their website. You can review this to find all the basic information that you would need in the trading world. The material provided covers all the fundamentals, but if you want to access details, you would have to opt for other means.

Account Types

You can open any type of account with Plus500 from the two choices available: demo and live. The former account has no time limit, and you will not have to pay any extra charges to open. If you want to open a live account, you can only do so when you add an initial amount of $100.
Whenever you open an account, you will receive a free bonus amount of $20.

Pros

  • The trading platform has a simple-to-use and easy-to-understand interface
  • The fixed spreads are fairly low which makes Plus500 more preferable over other brokers
  • Traders can choose from a wide range of financial instruments. You can review the complete list on the Plus500 website
  • Profits can easily be withdrawn
  • Compared with other online brokers, only a low amount of money has to be deposited
  • You can practice your trading strategies with the free demo account feature

Cons

  • Customer support is very limited and does not include live chat
  • The website does not have an education section
  • US traders are not allowed

The Bottom Line

If you are trader who does not reside in the US, Plus500 can be a great choice for you. Having received a positive review on most broker websites, Plus500 obviously has most of the features that you would ever need. Traders can enjoy many benefits in the form of multiple trading assets, tight spreads, generous bonuses and the like. Moreover, traders can also integrate their trades in other financial markets on a single screen, which makes it extremely convenient. In a nutshell, Plus500 is definitely a recommended broker in the forex world if you want to earn big money.

At a Glance

Minimum Deposit Amount

$100

Minimum position

0.005

Scalping

Not allowed

Spread

Fixed

Pips

2

Markets

Stocks, commodities, forex, indices, ETFs

Total currency pairs

51

Margin call

40%

Stop out

40%

Account Currency

US dollar

Deposit Bonuses

Yes

Payment Options

Credit card, debit card, PayPal, Moneybookers, wire transfer