Plus500 Review
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Broker Type: CFD Trading (market maker)
Regulation: FSA UK
Established: 2008
Headquarter: London, UK
Broker reviewed: Plus500
Basically, the main benefits of Plus500 is the wide range of instruments that it offers. If you like to trader multiple instruments and get profits from every opportunity available, this broker can serve you well.
Pros and cons
Pros
1. Offer local shares
2. There are no fixed commissions
3. Tight spread
4. Regulated broker
5. Large selection of indices, stocks, commodities, and ETFs.
Cons
1. Do not allow forex robots and scalping.
2. CFD is not allowed in all the countries. CFD is banned in US.
3. No Islamic Account
Plus500 Review – Salient Features
Spread
Plus500 offers a fixed spread ranging from 1pip to 6 pips. The spreads are very tight and consistent. Spread for EURUSD is 2 pips, which can be considered good in the industry.
Leverage
The leverage offered is a bit low as compared with other brokers. Plus500 offers a maximum leverage of 1:50.
Commission
They charge no fixed commission, which is a major plus.
Minimum deposit requirement
The minimum deposit requirement is $100, which is very low as compared with other brokers. All the new registered users are given a $25 free amount that can be used for trading right away. Free demo account is also available. This is not all; all the registered users are given a bonus on their first deposit. Plus500 is offering some real cash bonuses to its traders.
Strategies (Hedging, Scalping, Forex robot, swap.free Islamic Account)
Plus500 allows hedging strategies of all types but it doesn’t allow scalping strategies and forex robot. They don’t offer Islamic accounts at this moment. Trailing stop is allowed.
Trading platforms
Plus500 has its own trading software which is easily accessible through web and mobile phones. They have also developed their own trading apps for iphones, ipads and for other mobiles. The trading software is very easy to use and user friendly interface.
Citizenship
As Plus500 is a CFD broker which is not allowed in many countries, hence many countries and citizens are not allowed to use Plus500 broker. US citizens are not allowed as CFD is banned in US.
Instruments
Plus500 offers a wide range of different instruments including forex, commodities, stocks, ETFs and indices. This creates a lot of variety for all kinds of traders and investors. They offer quite complete range, even some instruments other brokers don’t have.
Regulation
Plus500 is regulated by FSA UK. Check their register here: https://www.fsa.gov.uk/register/firmBasicDetails.do;jsessionid=34e5ca5ddfc2494f98a5a14d425f3a8f.s6fNml1Ka34InBbv-ArJrwTPoNCNa30Ocybtah0IaNuIahiIb3yIaNfwmxiInxiOahmLc3aTc2SHc30Ka2aToi5hch0Na2TSn7bvq70KagTAqQ4InQXQ-BjF8NaRbheRbwbMnkrDqRfzqwbMnkrDqRfzqwbynknvrkLOlQzNp65In0__?sid=228668
Execution
Plus500 offers market execution of all the orders. Although Plus500 promises to execute trades quickly but practically orders are executed with a delay and you should expect requotes.
Plus500 Review – Conclusion
Plus500 is a good broker which is offering many instruments. If you’re a trader who choose to trade multiple instruments and gain profits from every opportunity, you’ll find a bunch of instruments you can’t find in other brokerages here. Spread is fixed and quite good compared to other brokerages. On the other hand, their customer services have been found to be a bit weak. While getting registered with the Plus500, make sure that your country supports CFD.
