Plus500 (broker) Review

Anyone who wants to trade in the foreign exchange market has two options: he or she can either trade personally or he or she can get a broker. One of the many brokers in the global currency market is Plus500. Established more than 10 years ago, Plus500 is one of the biggest and most reliable brokers in the business. The broker has received its regulation from the FSA or Financial Services Authority. It is best known for having a neatly organized website and trading platform, which offers traders a pleasant trading experience. Their services are deemed most ideal for those who are new to the world of Forex trading.

With years behind it and a lot of credentials to back them up, Plus500 is known as one of the top Forex brokers on the market. Its maximum leverage is at 1:50, while its minimum deposit and deal size are 100 EUR and 5,000/limited by margin, respectively.

Features

The Plus500 broker platform is not fully loaded with all the features offered by many top brokers, but it does have its own collection of the most valuable and essential features, such as the free unlimited demo, which allows new traders to practice trading until they’re ready for the real thing as well as a unique learning center where beginners can get basic information about Forex trading. While tutorials are not that uncommon in the business, Plus500’s platform offers some highly practical examples that may become useful to a new trader. It’s not a very comprehensive tutorial, but it is very practical and useful.

Pros

Plus500’s trading platform comes in three forms: downloadable, web-based, and mobile. All versions come in either English or Arabic, but remain constant regardless of which version you are using; this means you are allowed to switch easily between the different platforms. The platform is known for being user-friendly, with many remarking on its ability to deliver all the necessary information in a single page without the need to scroll. Traders can also access information about their past trades as well as their current position without moving to another window thanks to the tabbed presentation of the platform.

Cons

What the Plus500 platform lacks, though, are the multiple charts and graphs that are often offered by many advanced platforms; this, however, only further drives the fact that the Plus500 platform is designed specifically for new traders. Some veteran traders do still find the platform a refreshing option, though, since it does away with the frills and lets traders focus on the most important factors.