Please be aware that your capital is at risk when trading CFDs on any platform or provider
Plus500 Broker Review
Plus500 Broker Review - Overview
Plus500 have become quite a force in CFD trading since being founded in 2008. They focus on CFDs - not providing Spread Betting or Forex specific trading - and they have targeted their platform and products at that market. They have a clean, basic front end that provides a clear user interface but lacks some of the functionality of other trading platform providers. With a product offering that targets commonly traded products, with reasonable spreads, if you are looking for a simple and clean trading experience then Plus500 is a good option.
Plus500 Broker Review - Products and Spreads
Plus500’s CFD platform offers most standard products, and cater to any trader except those looking for the truly exotic. Their focus is clearly on core FX pairs, indices, commodities and major shares and this is where they have a solid offering and decent spreads. Spreads starting at 0.8 on EURUSD and 1.8 on GBPUSD are not the best but they are not far off. They have some very good spreads on certain currencies and Gold, Oil and Indices are all, also on the low side. They also offer trading on shares without commission (though of course there is still a spread) so that may be a benefit to those more interested in equities. You won’t be getting mugged off with your spreads on Plus500 but you also won’t be getting the cheapest around.
Plus500 Broker Review - Interface and Platforms
Plus500’s online CFD trading platform ‘WebTrader’ is very clean, very simple to use and very basic. They have the normal array of indicators but the draw tools are limited and there is not much functionality when it comes to popping out charts, displaying new windows etc. If you are using the platform to execute trades which you plan with the need for much charting then this is fine. If, however, you want to draw complex fibonacci retracements or analyse multiple charts simultaneously, then it is probably not the platform for you.
Plus500 Broker Review - Service
Plus500 won’t necessarily call you when you open an account, but they do have a customer service team if you need it. They also have a ‘live chat’ function on their platform at all times if you have a question you need answering quickly or if you aren’t a big fan of customer service calls.
Plus500 Broker Review - Safety
Owned by an Israeli company they have multiple offices including one in London and the UK arm Plus500UK Ltd . Plus500 Ltd is listed on the AIM section of the London Stock Exchange. Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). They make it very clear on their website that they hold all client funds in segregated accounts. As such, they tick all of the major boxes for safely deposited money: major regulator, segregated accounts, publicly traded company.
Plus500 Broker Review - Conclusion
Plus500 is a broker that is most suitable for new traders or traders looking for a clear interface for execution only trading. Their charting package is not the best on the market, although they have a decent set of indicators, but this is balanced by a deliberate effort to create a clean and simple user experience. The spreads are OK, good in some areas, and the product range covers all of the main areas, if not some more exotic currency pairs.