Plus 500 Review

Plus 500 is a UK based CFD broker that is regulated by the FCA and ASIC. The company is fully authorised to offer CFD trading services and handles millions of transactions on a yearly basis. When putting the size of Plus 500 in perspective, it is safe to say that the company is one of the fastest growing brokers in both Europe and Asia. Unlike a lot of CFD traders, Plus 500 focuses more on in-house developed trading, which leads to a simple approach and cleaner transactions.

Trading Platforms

 Plus 500 are a trader of a different persuasion to most currently out there, offering just one form of trading platform. This platform is developed in-house and exclusive to Plus 500. In total it has three different variations.

  • PC/Mac Software
  • Web-browser
  • Mobile

The platform allows for seamless switching between the three variations, meaning that trading is applicable whenever and wherever an Internet connection is available. In fact, their mobile app is the most downloaded trading app on both the Apple App Store and the Google Play Store.

Account Types

 Much like their trading platform, Plus 500 keeps it simple when it comes to user accounts by just offering one. It requires a £100 deposit and comes complete with a free unlimited use demo account. The account itself is basic in function and places a large responsibility on the user knowing their way around the CFD market, which is why it is advised that users try the demo account prior to any trades actually taking place.

Commissions and Spreads

 Plus 500 don’t charge commission on any trades that are executed by them, with their spreads falling as low as 2 pips. They also allow trading of CFDs on a variety of different instruments, meaning that their versatility and low spreads can make for a profitable partnership.

Reliability

 When choosing a CFD broker, reliability should be a key factor in your decision. Plus 500 is regulated by the London based FCA, meaning they have one the world’s leading financial governing bodies vouching for the legitimacy. They also support all forms of deposit, including money booker and wire transfer. However, they don’t support deposits via PayPal, largely due to the high service fees involved.

Pros

 Plus 500 are well established, with a loyal customer base and it isn’t hard to see why. They offer clients a simple yet effective interface that comes complete with easy withdrawal options. With a low minimum deposit and a large number of tradable instruments, Plus 500 can be of use to those both new and experienced in the CFD marketplace.

Cons

 Customer service should be considered an important part of any online CFD traders business, which is why it is alarming to see that it is something that Plus 500 lacks. They don’t offer a live chat option, meaning that any communication must take place via email, fax or over the phone. Which can be time consuming and even costly in the case of phone calls.

Spreadbetting, CFD trading and Forex are leveraged. This means they can result in losses exceeding your original deposit. Ensure you understand the risks, seek independent financial advice if necessary. The value of shares and the income from them may go down as well as up. Nothing on this website constitutes a solicitation or recommendation to enter into any security or investment.