Plus500 is another one of the online trading platforms offered to many different countries around the world. They’re heavily regulated in Cyprus and the EU. A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Options and Indices, a high-risk market. The platform is also regulated for the New Zealand and Australian markets.
Like all other platforms, you can sign up for a free demo account. There is no time limit, so you can stay on the demo account for as long as you like. There is also the real time account. A minimum deposit of 100 GBP/USD/ EUR is required to begin. This trading site involves high risk and may not be for all types of investors.
Plus 500 has their own proprietary trading platform. They also provide technical analysis software for their clients. You can choose to trade CFDs on Forex, indices, stocks, ETFs, cryptocurrencies, and other commodities. Since CFDs are leveraged products, there can be high-risk associated with them. This may be more of a site for the expert or pro.
The software is easy to use and intuitive. You can find the tabs easily at the top of the page. There is also charting information available to help with your trades. One thing that’s annoying though is that they only appear one to a page, so you may have to drag them over to your Word software if you wish to compare side-by-side.
You have different options when using the trading platform. You can choose to download one version to your computer, or use their version on the Plus 500 website. There is also the Apple Watch platform, and app version that works on smart devices. The apps work on all iOS, Windows, and Android devices.
There are limited options for fund transfers. available payment methods at Plus500 are Credit/Debit Card (Visa or MasterCard), PayPal, Skrill (Moneybookers) and Bank Transfer.
To sign up for live trading, there is a lengthy verification process, but this is to protect the site and other members from scammers. You don’t need to do this is you’re just registering for the demo version.
The site offers 24/7 customer support and online chat in different languages, plus email. There is no telephone support, which is a concern when you’re investing a larger cash deposit and something goes wrong.
While there is a high level of safety on the site due to the heavy regulation, since there is high-risk, you can still lose money. But if you’re interested in trading multi-assets, and learning more about how it all works, you can benefit from the unlimited demo account that other sites don’t have.
The most successful traders on the site are the ones who are experts or professionals. Plus500 does not offer social trading so there are no opportunities to learn from other traders. In addition, Plus500 does not offer any educational materials. A kind suggestion is to amend the text and refer specifically to the FAQ section (https://www.plus500.com/FAQ) where potential clients can find information about the platform and about trading in general..
If you’re not afraid to lose your first 100 GBP/USD/ EUR and have a bit of fun, then go ahead and start with the live account.
Plus500UK Ltd authorized & regulated by the FCA (#509909).
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.