When you are looking forward to trading for the first time, you want to be sure that you pick the right online broker. There are many unreliable ones out there and that can scare the new traders from investing their hard-earned money. Here is a Plus500 review that aims to help you know more about this particular broker, so you can make a well-informed decision and start your trading journey on the right foot.
An Overview of Plus500
Plus500 is UK based and is one of the brokers that are offering the widest range of instruments to trade in. The company has been around for 10 years now, which already makes it a reliable name in the industry. There is a complete roadmap of the broker available on the website for those who might be interested. As a trader on Plus500, you can trade in options, ETFs, shares, Forex, indices, commodities, crypto. According to the recent statistics available on Plus500 website, they have more than 317,000 active customers. In addition to that, their combined traded value to date is more than 1270 billion.
The Best Features of Plus500
As one of the best online brokers out there, you can expect just about anything from Plus500. They have tight spreads and can offer you a leverage of up to 1:300 to control big trades. They don’t have any commissions involved and customers like them for executing the orders quickly. The list of the instruments that you can choose from to trade on Plus500 is huge. They offer their traders a lot of control by offering a variety of risk management tools such as Trailing Stop, Guaranteed Stop, and Close at Loss or Close at Profit.
Plus500 lets you trade in cryptocurrencies, which is something you don’t normally find with other brokers. Their trading platform is available on nearly all the desktop and mobile devices including iOS devices, Android phones, Windows phones, etc. Here is a summary of their best features:
- Wide range of trading instruments
- Availability on desktop and mobile devices
- Tight spreads so traders earn the most
- Cryptocurrency trading available
- Real-time trading
- Huge leverages for controlling big trades e.g. up to 1:300
- Lots of risk management tools
- SSL secure website
There is no doubt that Plus500 is one of the best online brokers for traders around the world.
Biggest Benefits of Trading With Plus500
There are lots of benefits for trading for trading with Plus500. First, they get to take advantage of tight spreads. Tight spreads mean traders get the best rates for their trades and bag big profits. Another benefit for traders is the peace of mind, which is probably the biggest benefit. Plus500 has been around for 10 years and has hundreds of thousands of traders that already trust it from various countries of the world.
Traders have a lot of choice as to which instrument they want to trade in. As a matter of fact, anyone can trade just about anything with Plus500. So, you can pick the instrument that makes the most sense for you. Crypto-investors who have a hard time finding reliable exchanges to trade their crypto-coins will be glad to have a reliable place for trading too.
For those who like to take big chances and make big profits, the leverage of 1:300 is an amazing option. Not to mention, Plus500 allows traders to receive real time SMS, email and push alerts so they can stay on top of their game. Last but not least, the broker has a free demo account available for new traders. The demo account helps new traders not only understand how the various markets work but also get a hang of the platform.
Deposit and Withdrawal With Plus500
Plus500 makes the life easy for traders by offering multiple and safe deposit methods. When it comes to depositing the money, traders can use credit cards, debit cards and electronic wallets such as Skrill and Paypal. One of the safest methods of depositing the money for traders is transferring right from their banks and that option is available with Plus500 too. The best thing is that Plus500 has SSL on its website, so traders can provide their credit and debit card information without fearing.
The same safe options are available for withdrawing your funds that are available for depositing them. Bank transfers can usually take around five to seven days for execution. Electronic wallets can take anywhere from three to seven days. For credit card withdrawals, the duration depends on your bank. Plus500 gives you at least one to three days for any successful fund withdrawals.
Plus500 Customer Support
No matter how good a broker is, as a trader, you can come across issues too. That’s when a broker has the time to make it or break it in front its traders. Plus500 accepts emails for any type of inquiries. You can also go through the FAQs section on their website for most of the information. Their customer support section on the website has nearly all the concerns of the traders answered too. You can search for your relevant query using the search option on this page.
Overall Rating of Plus500
Here is an overall rating of the various services from Plus500.
- Trading Instruments – 5/5
- Withdrawals/deposits – 5/5
- Customer Support – 4/5
- Mobile Trading – 4/5
- Overall Rating – 4/5
There are some great benefits for traders if they choose to trade with Plus500. Furthermore, the peace of mind is there because the company has been around for nearly 10 years and it now has active traders from all around the world. There is a lot of information available on the website to help people make up their mind before they start trading. The one thing that Plus500 can work on is its customer support because there is no phone number for people to contact at. However, you can say that with so many customers from so many different countries, email does seem to be a better way to provide customer support.