It is crucial to read the broker review before trading with the broker. You can find the Plus500 review in detail below. Plus500 is rated as a minimal risk firm with an excellent trust score (98/99). It is a publicly listed company that doesn’t operate a bank. 3 highly trusted top-tier authorities, 4 tier-2 authorities (average trust), and zero tier-3 authorities have given their approval to Plus500.
Investment Options
Contents
Unlike the other brokerage firms that supply underlying FX pairs, Plus500 only offers CFD items for FX trading. The list below outlines the various investment packages accessible to Plus500 customers.
Crypto: CFDs allow you to trade crypto, though you can’t trade the underlying asset directly (meaning you cannot directly purchase Bitcoin). Remember that crypto CFDs aren’t offered to retail traders and United kingdom inhabitants from any broker’s United Kingdom entity.
- Forex Trading
- Int’l Stock Trading (Non-CFD)
- CFD Trading
- 1896 Tradable Symbols in total
- Cryptocurrency (CFD)
- 71 Forex Pairs in total
- US Stock Trading (Non-CFD)
Plus500 Review -Pricing
Generally, Plus500’s price is in accordance with the industry standard, though when it comes to active trader fees, it lags below the top FX brokers such as IG or Saxo Bank. Plus500 doesn’t offer active traders or Elite customers any discounts.
Platforms and Features
Spreads: The platform shows a dynamic spread of 0.8 pips, for the euro and dollar pair. The typical spread of Plus500 for this pair in August 2020 was 0.8 pips.
Simple Interface: The firm’s WebTrader platform (which is based on the browser) is a good starting point for newbie traders until they start using a more complicated platform.
The platform is easy to operate and the layout is simple. Trailing stops, as well as GSLO, are among the useful features and they can act as beneficial risk mitigation instruments for ordinary traders.
Desktop version: The desktop version of Windows 10 isn’t accessible any longer and it does not work even with up-to-date desktop software. The web edition, however, is in line with the requirements of a modern web application. This indicates that the firm’s growth is in web trading and not the desktop.
The firm’s web platform comes with comprehensive charting capabilities, with more than a hundred configurable technical signals as well as the opportunity to save chart designs. Plus, the charts come with 21 sketching instruments to enhance technical analysis.
Plus500 doesn’t support MT (MetaTrader), algorithmic trading, or social trading since it uses its own unique trading platform. It also doesn’t accept algo trading or copy trading.
Below is a list of available platforms:
- Virtual Trading (Demo)
- Proprietary Platform
- 9 Watchlists – Total Fields
- Order Type – Market
- Web Platform
- 110 Charting – Indicators in total
- 21 Charting – Drawing Tools in total
Analysis and Research
Concerning asset research, Plus500 simply is not enough, particularly in comparison to leading companies like IG and Saxo Bank. It lacks basic analysis instruments including market commentaries on a daily basis, Forex updates, and regular webinars.
Media and information: The trading interface contains little research outside of default sentiment information, a link for Yahoo Finance regarding currency rates. Also, there isn’t any material in relation to foundational analysis.
Alarms: Users can set up alerts based on a percentage shift in user sentiment data in Plus500. This seems to be innovative and a step up from standard price notifications.
Research includes:
- Daily Market Commentary
- Economic Calendar
- Social Sentiment – Currency Pairs
Plus500 Review – Training and Education
In comparison to top-tier educators like City Index and CMC Markets, Plus500 does not provide a wide range of training materials for its users. Without a doubt, Plus500 must increase its instructional material offerings to raise its ranking in this area.
For instance, the Plus500 began offering instructional video content through its Trader’s Guide segment over a year ago, but there are still just six videos accessible, and they are only a couple mins max.
Plus500 Review – Mobile
It’s fantastic to see that its trading application seamlessly transitions from the WebTrader browser platform. The appearance, experience, and performance are all the same. However, the trading application, like WebTrader, misses the comprehensive features and all the necessary capabilities to compete with industry heavyweights. For instance, unlike the trading applications provided by Saxo Bank & TD Ameritrade (solely for United States residents), the firm’s charts from the web don’t really synchronize on phones.
Plus500’s charting has changed for the better (109 signals as well as more than 20 drawing tools), but the trading program does have a lot of space for growth in relation to the number of features it can offer. There is a shortage of reports, information, and sophisticated trading features.
The mobile features include:
- Android App
- Apple iOS App
- Alerts – Basic Fields
- Watch List Syncing
- A total of 110 Charting – Indicators / Studies
- Charting – Draw Trendlines
- Forex Calendar
- Charting – Multiple Time Frames
Verdict
Plus500 is a champion for newbie traders that want something that is convenient and easy to use and also is simple, despite an apparent absence of educational material.
On the flip side, aggressive users will be disappointed because research is scarce and sophisticated features are unavailable. Explore eToro, IG, or CMC Markets for a much more sophisticated trading experience.
Plus500’s web-based trading platform is exceptionally easy to use, rendering it ideal for new traders. Apart from newbies, the Plus500 platform only has minimal capabilities, leaving it less appealing to professional traders. Keep in mind that a beginner-friendly trading platform doesn’t really make it a lot easier to generate money. Trading is a high-risk endeavor. On many of the key FX pairs, it tends to provide spreads that are similar to the industry standard. Professional traders and Premium clients, however, aren’t eligible for discounts.
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