Plus500 Broker ReviewMinimum Spread : ECN
Foundation Year : 2008
Min Deposit $ 100
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Plus500 Broker Review – Uncovering the top Features: Brokers are an integral part of a trader’s life, and that’s why it is vital to choose a regulated, genuine one. In this article, we would present you Plus 500 broker review in detail. We shall rate every significant feature of them, but before that, let us know some necessary information about the online trading platform.
Plus500 Broker Intro
Plus 500 is a 2008 broker which was established in Israel and listed on London Stock Exchange also. Their emphasis is on providing the best trading services and not trying to attract the customers in unethical ways like bonuses and offers. Also, they are a global service provider offering their services in more than 50+ countries in the world. They offer a wide range of financial instruments for trading but with low fees.
Moreover, the company is a brand and has four more subsidiaries working in the world. Their names are as follows:
- Plus 500 SG Pte Ltd. (Singapore)
- Plus 500 UK Ltd. (London)
- Plus 500 CY Ltd. (Europe)
- Plus 500 AU Pty Ltd. (Australia)
Let us try to know Plus500 Broker in more detail!
Detailed Plus500 Broker Review
1. Regulations: Rating – 5/5
Plus 500 broker is among one of the best-regulated brokers in the world. They regulate under many financial bodies, and almost all of them are top tier I authorities. Their four subsidiaries work separately, and all regulate with their respective countries. It includes the UK’s Financial Conduct Authority, Cyprus Securities & Exchange Commission (CySEC), Australia Securities & Investment Commission (ASIC), and Israel Securities Administration.
And, this doesn’t end here, a trader of Plus 500 is secure and safe under Investor’s Compensation Fund (CIF), Financial Instrument Directive, EU Anti-Money Laundering Directive, New Zealand’s Financial Market Authority, and many more bodies. All these directives & regulations from top bodies ensure that the interests of the clients are a priority, and their funds are secure without any hassle.
2. Types of Accounts: Rating 3.5/5
There are two plus 500 account types available for a trader with Plus 500, i.e. standard and professional account. While the simple account is accessible for all users, you need to fulfill some eligibility to trade in the professional one. The types of services offered in both of them vary greatly and work as required by industry.
The critical difference between the two is – While the maximum standard account leverage is 1:30, the max limit for a pro account is up to 1:300.
3. Education: Rating 2/5
There is not much to offer from Plus 500 for their novice traders. While many argue that advanced traders do not need the material, we understand that not every user is the same. Although there is an education section on their website named – ‘Trader’s Guide’, it only has some essential videos in it.
However, there is a reasonable risk management section that teaches traders how to minimize risk, explained in detail. But, indeed they need to work on their educating portal more.
4. Customer Support: Rating 2.5/5
Plus500 is a top broker but still don’t have the option of phone support for their clients. But, users can contact them via email or live chat, which works hard 24/5 every week. The support team is multi-lingual and can resolve issues in more than 32 languages. Also, for common queries, there is a detailed FAQ section for their clients too.
But the importance of phone support still cannot be underrated.
Note: Their support service is rated high by over 8100+ users.
5. Spread & Other Charges: Rating 3.5/5
The spread charges of Plus 500 are among the lowest in the industry, and there is certainly no fee for any executed trade. They majorly earn from their spreads, but some other expenses are charged too. It includes an inactivity fee of $10/month after three months of no trading and an overnight swap rate on leveraged positions.
They offer spread on 2500+ financial instruments with as low as 0.6 on currency pairs. Also, a 0.3% currency conversion fee is levied on users but other benefits like dividends, splits, mergers, etc. are not kept and passed to the client.
6. Trading Platforms: Rating 3/5
The trading platform of Plus 500 broker is at par with the top industry traders and supports web, desktop, and mobile trading easily. The user interface is smooth and straightforward to understand for new traders and is not customizable as per the client’s needs and requirements.
But the disadvantage is plus 500 broker trading platforms don’t offer Meta Trader, which is widely used by most brokers now.
The impact is one can use only necessary tools for trading, and no charts, signals, or indicators would be in the first place.
7. Range of Assets: Rating 4/5
The range of financial instrument offerings on Plus 500 exceeds 2000 but includes only currency pairs and CFDs. There are around 50 forex pairs available to trade for users, and it doesn’t matter whether you buy one or 1000 lots, the spread charge will not change, which is a plus point for small users. The CFD supports stocks, indices, commodities, and equities.
Also, it was the first broker to list Bitcoin in 2013, for trading. Overall, the broker emphasizes more on their target customers only and designed for them.
So, this was our Plus 500 broker review. We have covered every major feature of them and tried to rate as per our reviews. Now let us know the overall rating of this broker, followed by a conclusion.
Overall Rating – 4/5
Plus 500 Broker Review Summary
Plus 500 is a top broker and operates very well globally. The regulatory bodies are among the best ones, and it makes this broker entirely safe for trade. While many people might find education and the customer support part not attractive, many other things like the range of assets and types of accounts are worth noting.
The broker is suitable for both beginners and professionals because of their easy website design and transparent policies. But the final decision is on, and we would not try to influence you in any way.
But, make sure your judgment stands on substantial factors.
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