Plus500 gives you a great chance to get started with Forex and CFD Trading and they offer a risk free demo account for all customers – no deposit required. You should not hesitate to sign up here and get started at Plus500!
And in case you are not fully confident why Plus500 is the best choice for all traders, you should read our extensive review:
Established in 2008, Plus500 is an online CFD broker platform that has grown a strong and loyal client base predominantly in Europe, North America, Asia and Australia. Plus500 offers over 1000 instruments in which to trade and is owned by Plus500 Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom*. At the moment there’s no better broker for Forex and CFD traders.
How To Trade The Plus500 Trading Platform
Trading could not be simpler at Plus500. Just click this link to open up the platform (no download necessary), choose the asset you wish to buy or sell,
Then enter the amount you wish to invest with any stop losses or stop profits manually entered into the window that has just opened.
And the trade is made!
A great feature hugely appreciated by many new traders is the unlimited demo account offered by Plus500. It is available as either a downloadable platform or as a web based platform and provides the novice trader the prefect method to familiarize themselves with the trading platform and trading itself.
Not having time or monetary constraints in the demo can be a great tool for new traders, learning the CFD ropes and really helps Plus500 stand out from many of its competitors who offer only a time or monetary limited demo. The demo is a no risk and no commitment way to explore the platform and try out new strategies and is highly recommended for all new traders.
One of the first things you notice when you enter the website of Plus500, is how crisp and clutter free the website actually is. The menu is clear and concise, designed for the novice trader in mind. Often, some platforms like to cram as much information into their homepage as possible, which for the new trader; can be both daunting and off-putting. Set against a clean white background, all the information that is needed to get started at Plus500 is clearly presented and makes navigation of the site a simple process.
Risk warnings are prominently displayed in the home page, as well as the regulation and authority of the Financial Conduct Authority (UK)* which helps build a general feeling of security and trust, so important to new traders.
Plus500 certainly holds its own against its competitors with the number of tradable CFD assets it offers.
Stocks â Stocks are categorized by country, making it a simpler task for traders focusing on particular regions.
Commodities – The most common commodities are all available to trade as well as some of the more exotic options such as Wheat, Corn and Sugar.
Forex â All the major currency pairs are available to trade at Plus500. The offering also includes exotic pairings and the less liquid currencies.
Indices â At Plus500 it is possible to trade on the movement of all the major indices in the world, including the S & P 500, the FTSE 100 and the Nikkei 225.
ETFâs â Traders will be pleasantly surprised by the number of tradable EFTâs on offer at Plus500, allowing an interesting and diverse investment portfolio.
Plus500 offers trading in different formats. Not only is there a downloadable trading platform, but since 2009, there has been a web based platform in which to trade.
The Plus500 trading software takes less than a minute to download and lets you trade all the worldâs most popular instruments from just one platform. The in-house developed platform makes the whole trading process as simple as can be by presenting a platform that is both intuitive and neatly laid out.
The Plus500 webtrader platform is a web based trading platform that requires no download and is available in both the Demo and the Real Account mode.
Plus500 caters for the trader on the move, with trading platforms available for iPhones, iPads, tablet computers and smartphones. This ensures customers of Plus500 never miss out on a trading opportunity and can trade anywhere and at anytime. Mac users and Linux users are also catered for at Plus500 which can often be a problem with some brokers who offer windows based operating systems only.
On the homepage an introductory movie, just under 3 minutes long, is provided as well as the clear and simple downloading instructions. The movie provides a good, concise overview of the trading platform and gets new traders firmly on their way to making their first trade.
Like the website itself, the trading platforms offered at Plus500 are available in over 20 different languages, but it is the uncomplicated and clear design of the platform that makes trading a number of different instruments from the same platform, a very easy task to perform, especially to novice traders.
Although the MetaTrader 4 platform remains the most popular trading platform to date, the no-frills approach by Plus500 means many traders do not suffer from information overload and do not have to switch through various different screens and windows to get the essential information they need to make a trade. This can be a big plus (excuse the pun) for the novice trader who can feel bombarded with information when all they want to do is to make a simple trade.
Charting is available within the platform with a number of technical tools designed to aid the trading process and not confuse it, included. The charting software does not allow for multiple graphs on the same screen, making the trading process a clear and simple one. Traders looking for more advanced charting or back testing methods would probably find the charting package at Plus500 perhaps a little too basic, but for the novice trader, all the basic and necessary information is presented in a clear and straightforward way.
The last point to make about the trading platforms at Plus500, is that the similarly designed platforms all seem to effortlessly work together, making the transition between a web based trade and a mobile trade, a seamless one.
One of the areas that could do with more attention is the education section. Although the explanation of how to trade is made very clear, there is a real lack of fundamental and technical analysis offered and no real education section to speak of. The charting package contained within the trading platform gives enough help and guidance but should a trader wish to progress his or her knowledge in trading then they would have to do that elsewhere.
Thankfully, there is no shortage of free education guides and websites easily located on the internet for a trader to extend their knowledge, but having a stronger and more complete education section would add value to the Plus500 brand.
Staying in tune with their philosophy of keeping it simple, Plus500 offers just one live account type. A minimum deposit of $100 is required for traders to open a live account. Remember, opening the demo account at Plus500 gives you an automatic unlimited demo account â a rarity amongst brokers.
Deposits and Withdrawals
The banking side of Plus500 is as clear and simple as the rest of the website. Accounts can be funded by:
Credit and Debit Cards â e.g. Visa/Mastercard â This is the fastest method to start trading. Simply go to the Plus500 cashier screen and complete the credit card details to instantly begin to trade.
Moneybookers/Skrill – Using Moneybookers is an easy process. Click the Funds Management window in the trading platform, choose the Moneybookers option and enter the email address used for Moneybookers. A new window will open and the Moneybookers transfer is ready to be confirmed.
Wire Transfer – Deposits through a wire transfer can take up to three days to process. Simply click the Funds Management window, choose Wire and then click the Send me Wire Details. You will then be emailed by Plus500.com with the wiring details. The email will contain the bank details necessary to make a wire transfer with the minimum deposit being $300.00 and the maximum deposit amount being $100,000
PayPal â PayPal is a good addition to the banking process and a service not available with all online brokerages. Go to the main trading lobby screen, Click Funds Management, choose PayPal, choose the amount and enter your PayPal details, a new browser window will open that will require you to confirm the transfer on the PayPal website.
ID – Due to Financial Conduct Authorities regulation*, withdrawals from a Plus500.com account require that the customer present an official photo ID. The ID must be a current passport, driver’s license or other official document and must be presented before being allowed to make a withdrawal
To make withdrawals: a valid Photo ID must have been supplied to enable requests for withdrawal to be effected.
The information can be sent via e-mail or by uploading a pdf, tif, jpeg or doc type file and an upload function is provided on the Plus500.com trading platform. It normally takes up to 24 hours for the files to be reviewed and it is possible to photograph the ID with a digital camera or a mobile phone.
From experience, the whole banking side to Plus500 is a simple uncomplicated process that takes a short time indeed to enact. Being regulated by the Financial Conduct Authorities*, there are certain procedures with regards to ID verification that must be followed, but these are both standard and for your protection, and the procedures do not hinder the whole trading process.
Commissions and Spreads
Plus500 is a spread only brokerage, which means that unlike other service providers who charge commissions on each trade, Plus500 does not charge dealing commissions and is compensated through the spread.
All the spreads are fixed as opposed to floating spreads and with spreads as low as 2 pips on the EUR/USD forex pairing, Plus500 are one of the more competitive online brokers.
Leverage is the amount you can magnify your trades. At Plus500 there is a maximum of 50:1, which although considerably lower than what is on offer with many other brokerages, for the novice trader, keeping leverage in check is important. Being a new trader and having 500:1 leverage can be a dangerous thing, so having a modest leverage for the newer traders means that they can reduce the overall risk in their trades.
Plus500 is regulated and authorized by the Financial Conduct Authorities in the UK*. The Financial Conduct Authorities has a reputation for being one of the more stringent financial authorities. There is a peace of mind for traders at Plus500 knowing they are protected by the Financial Conduct Authorities which provides investor protection of 100% of the first Â£50,000 of any claim in respect of your funds.
In accordance with the Financial Conduct Authority’s client money regulations, client money is held separately at Plus500, providing extra reassurance to its customers.
This admittedly is not the strongest point of Plus500. Quality and professional support is offered by phone, fax or email and is available 24 hours a day, 7 days a week. There is no live chat facility offered at Plus500, which is a negative, but the email response time is good with emails expected to be answered within 30 minutes.
Pros and Cons Summary
- Unlimited Demo Account
- Simple trading platforms used on any computer, phone or tablet
- Financial Conduct Authorities Regulated and protected
- Clutter free website
- Larger than average number of tradable instruments (over 1000)
- Lower than average minimum deposit with a clear and easy banking process
- Best trading App for mobile traders
- No Live Chat support
- Lack of an education section
Plus500 is one of the largest and most trusted brokers for a number of reasons. Other than being regulated and authorized by one of the worldâs leading financial authorities*, everything at Plus500 is designed with the novice trader in mind â from the clutter free interface with its clean and crisp design to the unlimited demo account available to everyone with or without download.
The novice trader is made to feel welcome and unrushed at Plus500 with the unlimited demo really helping make Plus500 stand out from all its competitors and ensuring that anyone, regardless of financial knowledge or experience, can begin trading with the opportunity to really explore the trading platform and their own trading strategies, without risk and without obligation.
The in-house made platforms are similarly designed with the novice in mind, carefully blending a comprehensive yet uncluttered charting package that provides all the necessary information, but does not confuse the new trader by offering more than what is needed.
Although a little let down by the lack of live chat support and the lack of an education section, there is everything a novice trader will need to get started and go onto become a better and more successful trader. The unlimited demo account, combined with the very user friendly interface, all contribute to the many reasons why many traders from around the world choose Plus500 to trade with.
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2008 â Plus500 is founded, offering an online downloadable platform allowing trading on the movements in the price of forex, shares, commodities and indices, without actually buying or selling the underlying instrument itself.
2009 â Commission free share dealing is offered by Plus500
2010 - A web based version of the trading platform is launched by Plus500, making Plus500 accessible to Linux, Mac and smartphone users.
Plus 500 expands its tradable portfolio by adding ETFâs (Exchange Traded Funds)
2011 â The number of traders at Plus500 passes the 1,000,000 mark
Over 2,000,000 monthly transactions are recorded at Plus500
An iPhone and iPad application is launched by Plus500 which quickly becomes the highest rated CFD trading application on Appleâs AppStore.
Trading Portfolio extended to offering over 1000 different global stocks
2012 â An android app for smartphones and tablets is launched by Plus500.
A few good links: FXEmpire and Plus500 at Facebook.
* Plus500UK LTD is authorised and regulated by the Financial Conduct Authority. Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500 AU LTD is regulated by Australian Securities and investments Commission.