Plus500 Forex Broker Review
72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
We find that two types of people read our reviews. Experienced traders who are looking for a broker that offers more, and new traders looking to get started. The good news is, Plus500 UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909) that is well-structured for traders of all levels, and they know exactly how to give their clients what they want.
Plus 500: The Company
Usually, when a broker asks for a high minimum deposit, we get that scammy feeling. Pleasantly, Plus500 are exactly the opposite and completely deserve their pristine reputation. Plus500 UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY LTD is also authorized and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). If that’s not enough, Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Derivatives issuer license in New Zealand, FSP #. 486026 authorizes the issuing of these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorized Financial Services Provider in South Africa, FSP 47546.
In other words, Plus500 is one of the most monitored brokers of all time. Safe is an understatement.
Like most banks today, the Plus500 free account can be opened with a very pocket-friendly $100 deposit. You’ll be offered a very attractive tools that are keeping plus500 ahead of most brokers, and giving traders that competitive edge that makes the difference between success and failure.
Plus500’s step by step guide to signing up is clean and easy. Payments can take between 3 to 7 business days for all payment methods, and the forums have seen zero complaints so far about any loss of funds or delays. Being regulated means being a real stickler for detail and going to great efforts to avoid criminal interaction, so you’ll need to provide a photo ID or passport and verify your address. This is perfectly normal with any and every respectable broker.
The Plus500 Trading Platform
It can be overwhelming when starting out in the CFD world, especially if the trading platform is overly complicated, but this is not the case here. The Plus500 platform is an all-round winner for two reasons. A new trader can get the feel of how to use the platform within the first hour, even without assistants. The layout is very user-friendly and seemingly uncomplicated, and the top stocks, commodities, and indices are accessible without lengthy navigation. The magic of the platform is in the well-organized features that go unnoticed until they are needed. More charts and reports than we care to mention here can be easily access and the trading executions take just seconds to confirm. The mobile app, for some of us, was even easier to navigate and brings a new meaning to the words “trading on the go!”
The main advantage to Plus500’s trading tools is the CFD service. Whether you are trading Forex, stocks, commodities, Cryptocurrencies, or indices, there’s a contract that’s just right for you with Plus500.
How is Customer Support?
Even though the Plus500 experience (from sign up to trading and withdrawal) is generally problem free, they still make the time and effort to provide top-quality customer service. The support staff are confident, knowledgeable, patient, and at times even intuitive to the needs of calling clients. Plus500 know that many new traders use the available free time of the weekends to expand their knowledge and experience, so 24/7 support is available on Live chat with professionals waiting for your call. Sadly, there is no landline telephone support for people with slower internet connections or limited data plans, but the email more than makes up with speedy responses.
This year has seen a lot of traders gravitating towards Plus500, which caught our attention and that of their competitors. After researching and reviewing we can understand why. Their good reputation is well deserved, and we endorse Plus500 with pleasure. The easy-to-use platform is loaded with tools to enhance trading performance, the banking is trusted, their reputation is spotless, and their support is of the highest standard.
Simply sign up, get familiar with the platform, practice, and then start trading with care and consideration. Repeat what works for you, and most of all be patient.
You’ll be in good hands with Plus500.
Plus500UK Ltd authorized & regulated by the FCA (#509909).
Plus500CY Ltd authorized & regulated by CySEC (#250/14).
Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).
Plus500AU Pty Ltd (ACN 153301681), licensed by:
ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.