Plus500 Review

Plus500 is just a CFD broker. It does not offer binary options trading. This established broker has been present in the market since 2008 without any major problems. Plus500UK Ltd is licensed and regulated by the British FCA (Financial Conduct Authority), license no. FRN 509909. Plus500CY LTD is subject to regulations of CySEC (licence 250/14).

The broker offers an unlimited free demo account, so you can test your trading skills without any risk a few seconds after you have registered. Given no limitations, you can use the demo account for even half a year.

The broker’s portfolio includes also a platform with customer support in more than 20 languages. The advantages of  Plus500 are: guaranteed stop loss and narrow spread. The broker offers over 2000 instruments including shares, currencies etc. Trading with CFD involves the same level of risk as binary options trading i.e. it can result in losing all your money.

Plus500 platform

Plus500 offers both trading over the platform interface as well as the option of downloading the platform. Both options are almost identical. If you are familiar with the main terms of CFD trading such as leverage and lot it will be peanuts for you to find your bearings in the platform because the design is really good.

As usual, on the top bar you will see the details of your account: balance, open positions etc. Underneath there are various assets (and you can see that the range is huge). It’s not like  binary options brokers offering just 70 assets. With Plus 500 you can trade all possible and seemingly impossible global shares including the aforementioned shares, currencies and so on. The portfolio also contains cryptocurrencies (e.g. Bitcoin, Ethereum,…)

At the bottom of the screen you can see a chart showing the price of the given underlying asset. Traders can choose from a candlestick, bar or column chart. Available are different time frames and various indicators such as Stochastic, ADX etc…

Trading with Plus500

opening a trade with plus500

Opening a trade is an easy and quick task

I have tested this broker twice. For the first time it was before I was 18 years old. At that time I only tried out the demo account. Next time I did it in 2015; this time it was with real money. Despite the time gap, the two experiences did not differ that much. The broker’s platform and user support were exactly the same.

Nowadays, Plus500 is operating an innovated platform which is a bit faster and more user-friendly than the old one. Overall I find the trading with this broker good because all elements are relatively simple. The fact that some more advanced features are missing makes the platform simple and easier to control.

However, if you are a beginner in trading I recommend you start with binary options. You can read our tips for beginners followed by the differences between Forex and binary options. 🙂

Spread and  costs

It’s not any secret that each broker must make money from this business. Forex and CFD brokers such as Plus500 make their money on spread. Spread means that a newly opened position is always a loss-making position. The price must first overcome a few pips (with Plus500 this is dynamic, mostly from 0.8 to 2) to become profitable. If you trade with a couple of hundred dollars, the commission will not be bigger than a few bucks.

Some brokers charge a fixed fee for the opening of a trade. This is not the case with Plus 500 cy ltd. However, I must mention that if you leave your positions open over weekend and sometimes over night, you will have to pay some small charges.

 

Plus500 Cy Ltd Pros

  • Broker working since 2008
  • Many satisfied clients
  • Own simple to use platform

Plus500 Cy Ltd Cons

  • Platform might be slow on some computers
  • Cannot trade directly from MT4

Plus500 Cy Ltd Screenshots

Screenshot 1 Screenshot 2

Plus500 Cy Ltd Details

Broker Plus500 Cy Ltd
Website URL www.plus500.com/
Founded 2008
Headquarters Limassol, Cyprus
Support Types Live support, Email support
Languages English, Hrvatski, Dansk, Nederlands, English, Eesti, Suomeksi, Français, Deutsch, Eλληνικά, עברית, Magyar, íslenska, Italiano, Latviešu, Lietuviškai, Bahasa Melayu, Malti, Norsk, Polski, Português, Română, Pyccĸий, Slovenčina, Slovenski, Español, Svenska, Türkçe
Trading Platform Custom platform
Minimum 1st Deposit $ 100
Minimum Trade Amount Micro lots (0.01 lot)
Leverage Up to 1:300
Spread 0.8 - 2 pips
Free Demo Account Yes
Regulated Yes
Deposit Methods Credit card, PayPal, Skrill, Wire Transfer
Withdrawal Methods Credit card, PayPal, Skrill, Wire Transfer
Number of Assets 2000+
Types of Assets 2000+ assets
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 90/100

Register right now!

Visit Now
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Leave a Comment

General Risk Warning:
The financial products offered by mentioned companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
Copyright © 2017. All Rights Reserved. x Binary Options