Plus500 Broker Review – 2019
Plus500 Broker Review
||Payment methods: Paypal, Wire Transfer, Check, Skrill (MoneyBookers), Credit cards|
|✔ Advantages||✖ Disadvantages|
Plus500.com is an international forex broker based in the UK and regulated by the Financial Services Authority (FSA). At the moment Plus500.com does not accept U.S. clients.
Plus500.com allows the trader to trade commodities, stocks, indexes, ETFs, and CFTs. All of this can be done from its single multi-asset software trading platform. Plus500.com offers a “welcome bonus” on all new accounts of £20 real money and an additional bonus of up to 30% on initial deposits which can be as much as $2,000.
The minimum initial deposit required is of $100. Visa/MasterCard, MoneyBookers or wire transfers can be used to fund accounts. The maximum leverage on Plus500 accounts is 50:1.
Plus500.com offers two types of accounts: the live funded account and the free unlimited-time demo trading account This demo account does not have a specified time period, so the trader can enjoy of unlimited training time before moving to a live account. The company makes their commissions on the dealing spreads, which are two pips for EUR/USD.
Plus500 Trading Platform
The Plus500.com trading platform can be downloaded to a desktop or laptop, or used via web-based version. There is also a mobile version providing instant access from cell phones. It is compatible with Windows XP, Windows Vista and Windows 7.
The Plus500.com trading platform is easy to use and user-friendly, with clearly labeled tabs and easily accessible menus for commodities, stocks, indexes, ETFs and CFDs as well as standard forex real-time quotes.
On the downside, the Plus500.com trading platform does not offer support for MetaTrader 4 or any other third party trading platform.
Plus500 Customer Support and Customer Service
Plus500.com support is available in multiple languages24/7; however, it can only be done via e-mail and fax as they do not offer telephone support or online chat.
Plus500 Deposits and Withdrawals
Accounts can be funded via Visa or MasterCard, MoneyBookers, PayPal or through a wire transfer.
Plus500.com’s withdrawal policy states that the customer must provide (via e-mail or by uploading a pdf, tiff, jpeg or doctype file with the upload function provided on the trading platform) a copy of a current identification document, such as a passport, driver’s license or other official photo identification before being allowed to make a withdrawal. The files are reviewed within 24 hours.
Conclusion and Final Thoughts
The complete online brokerage service of Plus500.com that includes forex, commodities, stocks, CFDs and ETF execution is perfect for non-US based traders. Their platform is easy to and can be used to trade multiple assets.
The bonus program is very interesting: 20 pounds to your new customer, regardless they fund an account or not, plus up to 30 percent of the initial deposit as a bonus.
All of the above make Plus500.com an excellent choice for a new trader. But in the event of an Internet disconnection, the new trader would be left without customer support.