Plus500 was founded in 2008 by a group of Israel Institute of Technology alumni. It was at this point that it started to help investors in the interbank currency exchange market who do not have large free capital. The main specialization of the broker is the supply of contracts for difference (CFDs). They enable traders to profit from trading assets such as stocks, commodities and ETFs without having to buy them.
Plus500 is registered in the UK and therefore headquartered in London. The brokerage activity of the firm is controlled by the local financial regulator FCA. The dealer is licensed to operate legally throughout the United Kingdom. Currently, Plus500 has more than one million customers working with it.
Trading Data and Conditions
A significant drawback of the platform is the number of available trading accounts – a parameter that is noted in real customer reviews. Traders use the browser adaptation of WebTrader and a stationary version of Windows Trader. The entry threshold (minimum deposit level) is 100 euros.
The following trading instruments are provided: precious metals, cryptocurrencies, stocks, indices, currency pairs. There’s a mobile application for the Android operating system.
The number of available bonuses is strictly limited – there is only one bonus per first deposit. New users receive a $30 bonus to their account.
Registration Process
To register, you need to go to the official website of the broker, then use the "Login" function, and then switch to the "Create an account" field. The amount of data to be entered is limited, in particular:
E-mail address. The broker regularly sends news about the launch of bonus programs, and regular customers receive promotional codes;
Password. A strong password consisting of 8 characters is generated. The ability to quickly log into your personal account through the social networks Google+, Facebook and AppleID has been implemented. According to platform’s reviews, it turns out that when registering through a social network, you still have to enter additional data: to complete account
verification.
As soon as the client has made a deposit from 100 euros, the function of opening orders becomes available.
How to Make Money on the Platform?
The number of implemented tools for a beginner is limited, and an increase in profitability is possible when using an expert or your own forecasts. The Tools section of the navigation menu reflects the main pages: economic calendar – a source of moderate analytics; risk management – warning information; trader's guide – educational materials.
To ensure profitability in the market, an investor can participate in an affiliate program. The company provides clients with tools for marketing, and a fixed payment is made for each attracted user. It is recommended to use the demo account option as a tool for testing your own strategy for working with selected trading assets.
To ensure profitability in the market, an investor can participate in an affiliate program. The company provides clients with tools for marketing, and a fixed payment is made for each user attracted. It is recommended to use the demo account option as a tool for testing your own strategy for working with selected trading assets.
To open an account, it is mandatory to complete the account creation process. As soon as the client makes a deposit of 100 euros or more, the function of opening orders will become available on the author's platform.
Work with the input and output of money is carried out through the personal account of the portal. The following payment gateways are implemented for withdrawal of funds:
- Global banking issuers Visa and MasterCard;
- Electronic payment systems Skrill, PayPal, Moneybookers;
- Direct bank transfers.
There is no fee for withdrawing funds from the client if a direct bank transfer is not used.
Support Service
Beginners in the Forex market often face problems that arise in the process of trading due to the lack of certain knowledge. That is why they need the help of a highly qualified consultant. To do this, clients of the Plus500 brokerage platform can contact the technical support service for help via:
feedback form;
email: (hidden)
Advantages and Disadvantages
Pros:
- Free demo account with unlimited balance.
- The presence of a valid regulator.
- A huge selection of trading instruments – the company's trading set includes more than two thousand financial instruments: digital currencies, stocks, stock indices, commodities, forex currency pairs, precious metals.
Cons:
- Lack of a MetaTrader terminal.
- Difficulty in finding the FAQ section on the site.
- The company does not offer features normally available with other online brokers, such as automated trading with expert advisors or other trading algorithms or backtesting features.
Traders’ Reviews
On thematic forums, you can find relatively numerous negative reviews of the broker. Thus, the participants write about serious problems in the operation of the trading terminal. They suspect the company of twisting quotes and creating conditions under which it would be possible to close a deal with a profit.
Traders note slippage and inaccuracy in the execution of commands when opening an order. In addition, the technical support service is unpleasantly surprised, which does not respond to user messages in a timely manner. There are also problems with the execution of financial transactions, or rather delays in transactions and all sorts of fraud with the client's trading account.
Conclusion
Concluding the review, it can be said that the company has great potential and development prospects. However, there are certain shortcomings in the work of the broker, which should be eliminated.
