What is Plus 500 review? One may ask and wonder why there is need to review such a firm. The need to review such a brokerage firm is to get more information about it and learn more about it.
For that matter, Plus 500 is one of the leading CFD brokers in the United Kingdom. This trading firm has one of the best services in the industry, and they also have an international presence, they are registered in several countries thus increasing their reliability.
About Plus 500
In the United Kingdom Plus 500 is registered as Plus 500UK Ltd under the registration number 07024970. Since they are registered in there they are also to the regulatory body, Financial Conduct Authority; they are registered under the number 509909.
They also have a presence in Australia; they are registered under the name Plus 500 Pty Ltd, and they are regulated by the Australian Securities Investment Commission, and they are registered under the number 417727.
They have gone further to register the company in Cyprus where other major trading firms have a presence too. They are registered under the name Plus 500 Cy Ltd, and they are regulated by the Cyprus Exchange and Securities Commission.
This cross-registration makes them accessible to a larger customer base and also multiple regulatory bodies overseeing their activities gives the firm a responsibility to abstain from malpractice.
Apart from all those registrations the firm is also a member of the London Stock Exchange further boosting their representation and image in the financial industry. They have gone one step further, and they are the official sponsors of Atletico Madrid.
Type of Accounts
Plus 500 does not have a wide selection of accounts; they offer one account that has a minimum starting balance of $100. This amount makes them one of the most affordable brokers to start your trading career with.
The starting balance Plus 500 offers is also subject to leverage; one can use the small starting balance and bump up its potential.
The maximum leverage offered is 1:294, this leverage is used at the traders discretion, the reason is one may use it to maximize his profit potential, and if a trade ends up going against you, you may end up losing the whole of your account.
Plus 500: Review of Their Trading Platform
Plus 500 has one of the best proprietary trading platforms in the financial industry. They have created a platform that suits the products and services they offer; the platform has been created to perform in various media. The platform has a web trader version that is accessible to anyone who has the internet connect.
The platform also has a downloadable version that is the Windows Trader, and they have created a version specifically for the Windows 10 operating system. The trading platform is very easy to use and thus even for the novice users will find it easier to maneuver through it.
They also offer a demo account for their clients who want to familiarize themselves with the platform and for those experienced once who want to test out a new trading strategy.
Deposit and Withdrawal Options
Plus 500 has made it their point to ensure their clients get a variety of options for funding their accounts. They have also ensured that these options are secure, and the clients will not end up losing money while transacting.
They have Skrill, an online payment option that can be used by clients who want a fast transaction that is easy to use either for depositing or withdrawing.
The next option is the card payments, especially major card payments can be used for both transactions. They also allow wire transfers from your local banks; they have the information you need on their page to use this funding option.
The last one is via your PayPal account; this is also one of the online payment services that a client can use to transact with.
All the above payments have a service cost attached to them, so it is important to inquire before making any payment.
Plus 500 focus on improving their client's experience, they understand that the markets are tough already, and so they want to ensure that they give the best support services.
The support team is available 24 hours a day; they can be contacted via a designated e-mail address, and queries forwarded using this method take a few hours before they are answered. It is important to note this because if you have an urgent issue, you would rather use the live chat.
They have their support team diversified; they have thirty different languages to cater for their diverse client base. This goes to show their commitment to their clients.
Range of Services
Plus 500 has other services that it offers its clients. They have a section on their web page that covers education on various aspects that are related to trading. These educational resources give their clients an upper hand when confronted with different market scenarios.
They also have their minimum trading size at 0.01; this will help the traders who have small accounts to trade safely without having to risk a great percentage of the trading capital.
They were the first brokerage firm to introduce Bitcoin CFDs into the markets; this has made them a popular choice for the cryptocurrency traders.
They also have over 2000 tradable instruments gathered from twenty different markets around the world. This gives every client an upper hand since they will be able to diversify their portfolio and thus spread their risk evenly.
Anyone who wishes to join this winning team will be great hands, from their account managers to the directorate and not forgetting the extensive support team; you will always be in good hands at Plus 500.