Plus500 Broker Review
Plus500.com only accepts non-U.S. customers.
* Your capital may be at risk
* Plus500 is a CFDs service
Plus500 Corporate History
Plus500.com is a world class online forex broker based in the UK. Since 2009. The company is headquartered England and is authorized and regulated by the British Financial Conduct Authority.
Plus500.com offers customers its own proprietary multi asset trading platform. This allows a non-U.S. online forex trader the possibility of trading commodities, stocks, indexes, ETFs and CFDs from a single trading platform. Another attractive feature of Plus500.com is their "welcome bonus" on new accounts, the firm offers $25 to new customers regardless of whether they fund an account (some rules apply). Also, Plus500.com offers additional bonuses of up to 30% on initial deposits for live accounts that could be worth as much as $7,000.
The amount for opening a live account at Plus500 requires a minimum initial deposit of $100 and accounts can be funded through Visa/MasterCard, MoneyBookers or through a wire transfer. The maximum leverage on Plus500 accounts is 50:1. Keep in mind the higher the leverage, the greater the risk, so keep it as low as possible.
Plus500.com makes their commissions on the dealing spreads, which are two pips for EUR/USD.
Plus500.com offers customers two types of accounts:
• Live account - minimum deposit $100
• Free demo trading - this type of demo trading account has an unlimited use time and comes complete with a trading platform and charting software.
• Several options for funding an account
• Credit card transfers from Visa and MasterCard.
• MoneyBookers cash transfers
• Wire transfers from banks or other institutions
• Customers must provide proof of identification to withdraw funds
• Takes up to 24 hours for the customer's identifying documents to be reviewed
Risk disclaimer: Forex trading involves substantial risk of loss and is not suitable for all investors. You may lose more than your initial investment.
Plus500.com offers clients a great proprietary trading platform, which is can run on Windows XP, Windows Vista and Windows 7 operating systems. The platform comes in three different formats: a web based version, accessible from any PC, a downloadable version that clients can download directly to a desktop or laptop computer and a mobile version for use with cellphones and other personal devices.
The trading platform also includes charting software and an all inclusive trading screen. The multi asset trading platform includes real time quotes and the ability to trade commodities such as oil, silver and gold, stocks, indexes, CFDs and ETFs. Tabs on the top of the screen allow access to historical trades and current positions.
The Plus500.com trading platform has the same features and presentation across all three versions, facilitating trade entry and execution from any cell phone or computer. Plus500.com, however does not offer support for other third party trading platform such as MetaTrader 4.
Plus500.com offers customers fax and e-mail support 24/7 in multiple languages, however, online chat and telephone support are not available.
- Plus500.com offers some basic forex trading material, for more in depth market education material other sources are advisable. The unlimited demo account can provide ample market experience and a hands on market education.
Regulatory Compliance - The company is authorized and regulated by the British Financial Conduct Authority as Plus500UK Ltd under the number #07024970 in England and Wales and the firm's Financial Conduct Authority registration ID is #509909.
Plus500.com may not be the largest online forex broker, but they offer a great trading platform accessible from your cell phone and just about any Internet computer. Also, Plus500.com gives non-U.S. traders the ability to access much more than just the forex market, and the company is Authorised and regulated by the Financial Conduct Authority, thereby providing customers with added fund security.
Furthermore, their customer service department responds quickly via e-mail and Plus500.com has an online chat feature though they do not list a phone number. If communication via e-mail or chat is acceptable, this broker makes a good overall choice for both novice and seasoned traders alike.