People have been asking me to Review Plus500 a lot for the last year and a half, but as it wasn’t strictly binary I’ve left it til now to get round to it. However I have been trading with Plus500 for a good 2 years now on the CFD side of things and have spent enough time trading both Demo and real money to be able to give you an honest review of the platform and the experiences I have had with the company.
Ok so first things first. Plus500 is a CFD trading platform, based upon Leveraged trading. This means you can make quick profits and also quick losses – bear that in mind if you are new to this type of trading. Having said that, they are one of the easiest to use platforms across the Forex / CFD marketplace.
One of the reasons I was specifically drawn to the Plus500 was the ability to trade the Bitcoin/USD currency pair. Now if you have been following my channel, you’ll know that I have been becoming more and more interested in trading Bitcoin. There are several ways of trading in Bitcoin, including actually buying and selling actual bitcoins, but the returns are not anywhere near as quick as a well timed CFD trade.
Bitcoin trading was a major plus for me (no pun intended), but also so was a fully functioning Demo Account.
Plus500 Demo Account
The demo account is just the same as real trading. You get the hang of the platform using demo funds, and can practise your strategies and techniques. It’s easy to switch between demo and real money modes on the web version as well as the software versions.
If you are looking to try out trading CFDs / Options / Forex then the Plus500 demo is a great way to get your head around the differences between that and trading Binary Options, for example.
Plus500 is available in 32 different languages, and their tagline is ‘World’s Trading Machine’. They are a very internationally focused company, and their whole site and support is dedicated to an international audience. They are not allowing access to their platform by countries where CFD trading is banned (like the USA and Belgium), so bear this in mind if you are trying to access from one of these countries.
You can opt to use a full array of different indicators on their bespoke platform. Given that you cannot use Plus500 with MT4 / MT5 for example, it’s important that they offer these very useful tools.
Some of the indicators include:
Alligator, Average True Range, Bollinger Bands, Commodity Channel Index, DeMarker, Envelopes, Fractals, KAMA, Linear Regression, MACD/OSMA, Momentum, Moving Average, Parabolic SAR, RSI, Standard Deviation, Stochastic, Williams Percent Range.
As you can see there’s plenty of informational tools you can use to help you in your trading.
You can download their software to run on Windows XP/Vista/7/8/10. I find that this eliminates some of the page loading times when switching around the various parts of the interface. Having said that the web version runs smoothly and trades appear to be initiated instantly through either version.
There’s also the iOS and Android version of the Plus500 app, which I have used many times to take advantage of trading opportunities when I’m on the move. Again, instantaneous trade execution times, and full functionality make this a great feature for this broker.
The ability to be able to use web, installed and mobile versions is very useful, but bear in mind if you log in to one of them, this will log you off from the other instance of your trading account.
Plus500 offer a huge selection of assets to trade across their platform. So there’s always a market open 5 days a week, 24 hours a day. Indices include Spain 35, Germany 30, UK 100, US-Tech 100 and many more.
Commodities include Gold, Natural Gas, Brent Oil, Palladium, Wheat, Copper, Platinum
Shares include major stocks from USA, Portugal, Spain, France, Italy, Austria.
Forex currency pairs include pretty much any conceivable currency pair from the big volume (EUR/USD) to the smaller (EUR/MXN) for example.
The leverage available starts at 1:10 up to around 1:300, depending on the price of the underlying asset. Bitcoin/USD for example is 1:10 as the underlying asset is priced at 1226$ at the time of writing. This margin enables you to make larger profits / losses in a shorter timeframe than would otherwise have been possible. But be careful as this can wipe out most of your money should you get a margin call.
Fees and Spread
Plus500 makes the majority of its money through its spread, which is the difference between the buy and sell price of the option. So if you buy a call option, immediately your position will be in the negative until the price rises enough to reach the sell price. They do not charge a commission on each trade, only this spread.
The other fee to factor in is an overnight Premium charge. Bear this in mind – this overnight premium will eat into your profits if you are holding the options over a long period of time. The reason for this overnight charge is that essentially, you are trading with borrowed funds because you are trading on margin. If you close your position on the same day, you don’t get charged any interest, but this is deducted from your overall Profit/Loss if you still have your position open at 11pm in the time zone you are in.
Plus500 is a very well respected broker with many years of experience. It is fully regulated by various institutions, including the FCN in the UK, CySec, and the Australian Securities and Investments Commission. Their live chat is instantaneous every time, and payouts are fast. They also have a great welcome bonus (don’t worry it’s not a bad bonus) if you join using the button below. It’s free to try out the demo account, so get started for free and try the platform out now. Please remember, your capital is at risk when trading CFDs.
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