Want to Learn More About Plus500? Read our Latest Plus500 Review
.Plus500 was founded in 2008.Up to 1:300 leverageTrade now
When it comes to choosing the perfect Forex broker, things can be rather confusing. Particularly if you happen to be new to the business. A great way to learn more about some of the names that keep popping up in your research is to read the latest reviews. Great news then, that you’ve found your way here. Because we’re about to share the most up to date information in our Plus500 review.
The background and history behind Plus500
Finding a Forex broker that is licensed and regulated is an important quality to look for. You won’t be disappointed with Plus500, as it has gone to a lot of trouble to provide a safe and secure environment for all its traders.
Plus500 was founded in 2008, and its trading platform allows clients to trade on price movements of a number of different assets, including shares, commodities, ETFs, options, indices, and Forex. Plus500 is the name of a trading platform offered by Plus500CY. Based in Cyprus, Plus500CY is authorized and regulated by CySEC (Licence No. 250/14), to offer CFDs in a range of underlying products. In the UK, Plus500UK is authorized and regulated by the Financial Conduct Authority (FRN 509909).
The cutting edge WebTrader platform
Trading Forex is a fast paced form of investment and it’s important to have instant access to the global financial markets. Plus500’s WebTrader trading platform offers that and more for both beginners and more experienced traders. WebTrader enables traders to securely manage their investments, via a user-friendly interface, with the needs of all types of trader in mind. Both live and demo accounts are given access to live streaming quotes, with leverage of up to 300. No download is required and there are one-click operations for opening and closing trades, placing direct orders, setting stop and entry limits, editing and setting limit and stop loss, along with charting.
There are also Plus500 mobile applications for those who much prefer to trade on the move, whether using an iPhone, Android, or Windows phone or other mobile device. There are videos available to take new clients through the ins and outs of Plus500 mobile applications, and regular updates to keep traders enjoying the best possible mobile experience.
There are only a couple of account options that include a real money and a demo account. So we thought that for this Plus500 review, we’d look at some of the great risk management tools available with Plus500. But first we should mention that Plus500 is possibly the only broker with an unlimited demo account, which is a great bonus, particularly for beginners.
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Plus500 offers a great range of risk management tools
Traders can enjoy more peace of mind with an exciting range of risk management tools available. ALl of them can be viewed from an account snapshot page via the main trading window.
Traders can also choose to set guaranteed limit and stop loss price levels for certain instruments, which can be used to limit personal risk. They can also choose to set price alerts for when the market reaches a certain buy or sell price. Another great tool is similar to a price limit and is called a trailing stop. Placing this upon an opening trade locks in profit by closing a position at the new level and not the original level set. This serves to limit any downside risk, without manually monitoring a position and adjusting the stop price.
In April 2013, Plus500 became one of the first brokers to offer leveraged trading on bitcoins. These were made available as CFDs and expire monthly.
Plus500 offers two interesting bonuses (T&Cs apply)
It’s always of interest to those reading various reviews, what type of bonuses are available. Plus500 offers two. The first is a Plus500 welcome bonus and is added to an account, as soon as it has been validated. In order to withdraw the bonus a trader needs to have earned 100 trader points. The second is the Plus500 deposit bonus, which varies depending on the amount of funds deposited into an account. As with the welcome Plus500 bonus a trader has to have earned a certain number of trader points in order to withdraw the bonus.
Multi-lingual customer support 24/7
Customers of Plus500 are able to get lots of help, in a number of different languages. As well as the website being available in a range of languages, including Bulgarian, Polish, French, Dutch, and Turkish, there are also a number of multi-lingual support staff (English, French, Italian, Spanish, German, Dutch, Polish, Arabic and Hebrew) to answer questions 24 hours a day, 7 days a week, via an email option and a live chat facility on the website. There is no telephone number to call for support, which was disappointing, but traders can find the answer to many common questions in the contact us page.
A number of payment methods are supported by Plus500, including debit and credit cards, PayPal or Skrill, as well as bank transfers. Not as many options as many other Forex brokers, but still enough to get the ball rolling. We should also mention that customers are required to provide photo ID and verify their registered address before withdrawing any money.
Plus500 is definitely a Forex broker we’d recommend you try, especially with the unlimited time for using the demo account. And for more seasoned traders there are tight dealing spreads and generous bonuses on offer when funding an account.