Regulation : FCA (Authorized and regulated by the Financial Conduct Authority)
Accepts US Clients: No
Min. Deposit : $100
Leverage : 1:50
Platforms : Plus 500 Trading Platform
- Various easy and fast deposit & withdrawal methods
- Reliable execution of trade trades as they promise guaranteed fills, stop loss and limit orders
- Wide range of instruments to trade with single account
We Don’t Like
- Not so high leverage ratio
- Do not allow scalping and heading
Plus500 is UK based well regulated broker with authorized and regulated by the Financial Conduct Authority. It is also a very popular broker as they have more than one million clients worldwide.
Their unlimited demo account and welcome bonus are the unique feature in well recognized brokers. However if you prefer Metratrader than this broker is not for you. Plus500 is a CFD service. Plus500 is suitable for experienced traders and not beginners
Plus 500, a UK based broker established at London, UK in 1999 and founded in online from 2008. Besides Forex trading, Plus 500 broker offers Contracts for Difference (CFD), Indices, Commodities, Stocks and Exchange Traded Fund (ETF) trading. Plus 500 have over one million clients worldwide. Their main attraction is very tight spread offer to forex traders.
Plus 500 broker offers only one trading platform. This platform is very much user-friendly and well organized for all kind of traders. This trading platform has 3 versions. These 3 versions are,
1. Downloadable package
2. Web-based trading platform
3. Mobile trading platform.
The downloadable package is compatible with operating systems of Microsoft and Apple. Traders can also trade from their cell phones via mobile trading platform. Web-based platform allows a trader to trade from anywhere.
Trading platforms of Plus 500 are designed for user-friendly Forex, CFD, Indices, Commodities, Stocks and Exchange Traded Funds (ETF) trading. Traders can trade in all of these markets through the platform of Plus 500. This platform is easy to use and easy to trade in many markets at a time. Plus 500 do not offer Meta trader platforms (MT 4, MT 5), but Meta trader is popular and widely used platform in forex trading.
Downloadable package of Plus 500 broker is widely used by traders who use desktops or laptops. This trading platform has 4 clear tabs at the top, in these tabs a trader can check out trading scripts, open positions, orders and closed positions.
The left side column consists a list of various trading scripts as this broker allows trading in many markets from a single account. Below this column, there is a box at the bottom of the same column having account information. Besides this column, the trading platform has instrument list with buy and sell options which is at the top. Technical chart and indicators are available below this list of trading instruments.
Plus 500 offers limited features compared to other top reliable forex brokers, but they do offer some unique features that are very rare in case of many other top forex brokers. Among these features, some of the vital features are mentioned here.
Plus 500 offers demo accounts for unlimited time. Most of the forex broker offer demo account for a limited time only. This feature makes Plus 500 a unique forex broker. Traders do not have to open demo accounts every month, they can practice trading in the same old demo account for life long.
Another outstanding feature of this broker is a trader can trade in forex, CFD, Indices, Commodities and Exchange Traded Funds (ETF) from a single account at a time. This also gives traders opportunity to understand the economical aspect by analyzing various markets.
Minimum deposit of Plus 500 broker is $100. Deposit method is fast and easy via wire transfer, Visa/Master card and Moneybookers. Maximum leverage of Plus 500 is 1:50. Plus 500 also offers small learning center which helps traders to understand about various financial markets and trading in these markets.
Types of Trading Accounts:
Besides the unlimited demo account, Plus 500 offers only one type of live trading account. The minimum deposit of this live account is 100 Euro, and they provide the maximum leverage of 1:50.
Plus 500 offers $20 welcome bonus for both demo and live account which makes this broker special. Trading accounts are easy to open and deposit settlement process is very fast. So, traders can open and start trading quickly.
Commissions and Spreads:
Plus 500 is very flexible in case of trading commissions and spreads. They do not charge any commissions in case of forex trading. They charge very little spread only which is as low as 2 pips for the execution of trades. This low and tight spread facility are very attractive for short term traders and scalpers.
They provide customer service to their clients by email and fax 24 hours a day 7 days a week without any failure. Their major drawdown is they do not provide telephone or live chat customer service. Most of the traders prefer live chat service which is very helpful to understand quickly. This is why new comers may face the problem in understanding their features, rules and services.
What We Liked:
Various Trading Instruments – They are authorized for a wide range of markets besides forex market. They offer CFD, Indices, Stocks, Commodities and Exchange Traded Funds (ETF) trading besides forex trading in a single account.
Trading Platform – Their trading platform is very much user-friendly for traders. This trading platform is designed for user-friendly trading in a wide range of financial markets.
Easy Deposit and Withdrawal Process – They are fast in deposit and withdrawal settlement via wire transfer, Visa/Master Card and Moneybookers.
What We Disliked:
No Live Chat Support – They do not provide telephone or live chat support, which is a major drawback for them. Due to this issue many new comers face problems to understand them and their policies.
No Streaming News Feed- This is a common and useful feature in forex brokers but this broker does not provide streaming news feed. Streaming news feed is really helpful for traders to understand economic and financial condition of countries and currencies.
No Automated Trading – Automated trading and advanced trading systems are not allowed here in this broker. Automated trading can pull-out trading stress and emotions from trading which is a key ingredient for trading success.
No Trading Signals Provided – This broker does not provide trading signals to their clients. Most new comers and beginners seek for trading signals; thus it is an important feature to be added with the broker.
The Bottom Line:
No doubt they are well regulated broker with authorized and regulated by the Financial Conduct Authority. They are also a very popular broker as they have more than one million clients worldwide. Their unlimited demo account and welcome bonus are the unique feature in well recognized brokers. However they should improve their customer support by adding live chat option. They should allow OCO orders, one click trading, scalping and hedging which would add more flexibility in trading. They should also increase their leverage ratio otherwise small traders may lose their interest in this broker. They should introduce managed account feature to their clients. Besides these minor limitations, they are excellent broker with really wide range of trading instruments.
I traded with plus500, and there is nothing wrong with this. They are one of the best around for beginners. I did multiple payouts with no problem
Portion of actual user comment on Forexfraud.com
Withdrawals went fast for me (under 3 days, each time). They are a bit on the cautious type, and I have a few friends that do not really like them because they don’t “allow” scalping. That’s not part of my trading style so i dont really care, but be aware of it. Besides that, good broker in my opinion!
Portion of actual user comment on Totalforextrading.com
I had a pretty good experience using plus500, their account verification process is fast, and the withdrawal is also considerably quick. I used PayPal as payment method, deposit were made instantly, and the withdrawal took 3 days, exactly as their customer support advised. All transactions went very smoothly, without any hassle at all. Their customer support always responded to my queries via email within a few hours. The platform is the only thing that they should improve, especially the graphs and the indicators
Portion of actual user comment on Forexpeacearmy.com
|Trading Platforms||Plus 500 Trading Platform|
|OS Compatibility||MAC, Windows, Android, iOS|
|Web Based Trading||Yes|
|Platform Languages||English, Swedish, Finnish|
|Addition Services||Small learning center|
|Other Tradable Instruments||Commodities, Indices, Stocks, ETFs, CFDs|
|One Click Trading||No|
|Account Details :|
|Min. Initial Deposit||$100|
|Typical Spread (Majors)||Fixed, 2 Pips|
|Deposit Options||Credit cards, Money Bookers, Wire Transfer|
|Withdrawal Options||Credit cards, Money Bookers, Wire Transfer|
|Account Types||Mini, Standard|
|Number of pairs offered||51|
|Dealing Desk||No Dealing Desk|
|Additional Features||Free education, Personal Manager, Managed Accounts, Trading Contents|
|Bonus and Promotion:|
|Welcome Deposit Bonus||$20|
|First Deposit Bonus||From $30 to $7500 depending on the deposited amount|
|Other Promotional Offers||NA|
|Company Information :|
|Headquarter In||London, UK|
|Regulating Authority||Authorized and regulated by the Financial Conduct Authority, MiFID|
|US Clients Accepted||No|
|Customer Support Languages||Arabic, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Italian, Japanese, Korean, Latvian/Lettish, Lithuanian, Malay, Maltese, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Slovak, Slovenian, Spanish, Swedish, Turkish|
|Support by||24* 7 Email|