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FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

Plus500 Rreview

Companies / Reviews Apr 09, 2020 - 05:28 PM GMT

By: Submissions

Companies

Introduction

Plus500 is one of the leading brokers that offer a wide range of financial markets with low spreads, no commission but with extensive services. Known for its reliability and efficiency, many brokers from around the world use Plus500 to execute their trades and make profits. With subsidiaries regulated in many jurisdictions, Plus500 ensures that your assets are safeguarded and protected. Being the first broker to introduce a Bitcoin CFD in 2013, it boasts of its access to a comprehensive product line, including options, WTFs, stock indexes, forex, equities, cryptocurrencies, and commodities.


Pros and Cons

Plus500 allows traders to gain access to approximately 2000 trading instruments, allowing them to trade in any financial instrument that they are comfortable with. With extremely low spreads and commissions relative to the other trading platforms, Plus500 proves its appeal for traders worldwide.

On the flip side, however, Plus500 is not the most suitable for beginners who wish to learn more about CFD, due to the sparse library of educational materials that they have. Furthermore, while customers have access to a myriad of instruments, the number of tools available to conduct analyses are rather limited, as compared to other platforms. Moreover, their WebTrader cannot be paired with other trading tools or platforms, making it very inconvenient for traders who are simultaneously using various platforms for CFD trading.

Reliability

As mentioned previously, Plus500 is reputable for being a trustworthy platform where traders can trade with ease. Even though they do not provide extra deposit insurance, the company is regulated in many areas including the Financial Conduct Authority (FCA), CySEA, ASIC, FSCA, FMA, MAS, and the ISA, thus increasing its accountability. Taking extra steps to ensure that client funds are not commingled with corporate funds, traders can rest assured that their monetary funds and assets are safeguarded and affected. Furthermore, funds are also being kept in segregated accounts and regulated banks, giving traders the additional layer of security in the event of Plus500 becoming insolvent.

Plus500’s policy also states that under the Financial Services Compensation Scheme (FCFS), any funds suffering from a shortfall of £50,000 can be claimed. Additionally, Plus500 is equipped with negative balance protection, which means that clients will not lose more than what they have in their current account. Traders can also use guaranteed stop losses on certain instruments to cap their losses as well.

Desktop Experience

Plus500’s WebTrader offers a streamlined trading experience that is stable and user-friendly with any browser that you use. Its simple interface ensures that traders face minimal difficulties and troubleshooting when they are executing trades, ensuring that their trading experience does not get disrupted at crucial moments. It allows you to create analyze charts, watchlists and carefully monitor trades. With over 100 technical indicators that you can apply, Plus500 enhances your average trading experience by a notch.

However, one downside is that Plus500 does not offer a MetaTrader4 (MT4) platform trading alternative, making it less functional and convenient. Furthermore, WebTrader is a closed system which means that professional traders who make use of third-party analytical tools to make trading decisions will find it an inconvenience as the platform does not support such functions directly.

Mobile Experience

The mobile version of WebTrader does not pale in comparison as compared to the desktop version, as it provides the full functionality of it. On their smartphones, traders are able to access the same trading instruments, account details, charting, conditional orders, as well as make deposits and withdrawals. It is also equipped with the necessary security measures such as the fingerprint unlock and automatic sign-out to ensure that your funds are safe and secure.

Research Tools and Insights

Though the platform showcases several in-house research articles and tutorial videos, the library is relatively smaller as compared to other trading platforms and does not include news feeds. However, they do provide customizable charts that traders can take advantage of to conduct analysis on any instrument that they sire. There is also a “Traders’ Sentiment” indicator that reveals to clients how popular a certain instrument is based on the percentage of clients purchasing and selling it, to provide additional insight and aid investors in their decisions.

Investment Products

One of Plus500’s attractive selling points, Plus500 does not charge any commission rates for any of its trades, and all costs are restricted to the spread for each of the trading instruments. Though there are no additional charges for withdrawals or account termination, the platform does have a small fee charged to traders who are inactive. Beginners are also able to open an account with as little as £100, making it appealing for newcomers who are still new to the scene.

Traders who reach a certain criterion are able to have their accounts registered as a “professional” account and will be able to adjust their trades to a higher level of maximum leverage of ten-fold, from 1:30 to 1:300, at the same costs. All traders have access to options trading on the wide range of markets available, in which the settings are customizable according to each trader’s strategy’s objectives and risk tolerance.

Customer Support

Plus500 offers 24/7 online chatrooms and email support for traders in need of help. Though the chatbots make use of automated responses at the start, getting through to a human agent to aid you does not require much time, and are often polite, knowledgeable and quick in their responses. Though there is no customer service telephone number, the live chats are sufficient and swift in their services. There is also an extensive FAQ section that touches on a wide variety of topics to help clients get answers quickly.

Conclusion

In a nutshell, Plus500 is a relatively reliable and useful trading platform that offers a wide range of financial instruments and markets. Since it does not have many educational resources available, professional traders who are experienced may find this trading more suitable, though WebTrader does not have extensive tools and third-party analytic features incorporated. Its user-friendly interface on both desktop and mobile versions makes it extremely convenient and hassle-free, allowing traders to execute trades on the go. They are also regulated in many jurisdictions, ensuring that clients’ funds are accounted for and highly protected. If you need more information, the full trading experience and a detailed review was recently shared in one of the articles published on business24-7.ae.

By Heidi Pate

© 2020 Heidi Pate - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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