plus500 review

plus500 review

In this Plus500 review, I would like to share what are we going to get if we were to sign up with this forex broker.

Plus500 is a multi-regulated brokerage service provider that has been in the industry since 2008. Over the several years, it has been in service, Plus500 has managed to open offices in several different regions including the UK, Australia, Cyprus, and Singapore.

They offers a decent number of financial instruments for trading. If you sign up with Plus500, you can get access to over 2000 different financial assets which include currency pairs, commodities, stocks, indices, and ETFs. You can trade these after making a minimum deposit.

Signing up with Plus500 is a quick and simple process. You have to complete a short online form in accordance with the Know Your Customer (KYC) guidelines. Then you need to verify your identity and provide proof of residence as well. Verification is usually processed within a day and you can start trading soon after.

plus500 customer base
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I know we’ve all faced a situation where we needed help but there was no one there to help us. Those situations can be really frustrating and stressful at the same time. The last thing you would want is to end up with a broker who isn’t there for you when you need them.

I’ve tried a couple of different brokers but none of the good ones ever had a customer support team that was available in the middle of the night to answer my problems. When I found out about Plus500, I instantly loved how they had a 24/7 customer support team that was always available to help me with anything I needed.

no commision and tight spread
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Most beginners often view trading platforms as very complex areas with a lot going on. This can often demotivate them from starting their trading journey. Plus 500 caters to these beginners by providing them with their proprietary trading platform which is user-friendly and completely customizable so you can make it look and feel however you prefer.

Plus500 also has one of the biggest educational sections being offered by forex brokers. Their educational section contains a wide variety of educational resources like trading guides, short videos, past webinars, and so much more. If you’re ever confused about any aspect of forex trading, you can always rely on this section to have the answers for you.

As a beginner, you’re going to be making a lot of mistakes. This is why it’s important to have access to risk management tools so that these mistakes don’t cost you your entire career. Plus500 provides you with risk management tools that can help limit the amount of loss you incur by setting up limits within your trading account.

plus500 trustpilot score
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Plus500 is a broker that values the safety of your funds. This is because they have partnered up with various different regulatory bodies to ensure that no one in the backend is performing any fraudulent activity with your account. Some of the regulatory bodies include the Financial Conduct Authority UK (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Exchange Commission (ASIC).

It has developed its own unique trading platform which may be accessed by desktop, web, or mobile devices. Its user-friendly interface and advanced features enable users to trade while they are on the go from within the palm of their hands, making it one of the trading apps with the highest ratings on the Apple App Store and Google Play. Their trading platform, which is simple and straightforward, is among the highest-rated trading apps in the market.

Plus500 offers you several methods of deposits and withdrawals. You can fund your account using wire transfers, credit/debit cards, and even e-wallets like PayPal, Skrill, and Neteller. You can even withdraw funds using these methods. You should know that you can only withdraw funds using the same method you used to deposit these funds. This is in accordance with their Anti-Money Laundering (AML) policy.

plus500 payment methods
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Have you ever faced a random issue with your trading account in the middle of the night and had no idea how to fix it? We’ve all been there. It can be so frustrating when your account has an issue and the customer support team is not available to help you resolve it. This is where Plus500 comes to your advantage. Plus500 provides you with 24/7 customer support so you no longer have to worry about waiting for office hours to get your issue resolved. Their customer support team is ready to assist you no matter the time of day.

A big worry many traders have is what happens to their profits if the broker is unable to pay them after going into default? How will they get their profits? If you’re trading with Plus500, this should not worry you. This is because Plus500 has partnered with the Financial Services Compensation Scheme (FSCS) to ensure that if they do ever go into default, you can get compensated for up to $85,000 per person. Though you should know that they’re pretty specific on who is eligible for the compensation so definitely go through the terms and conditions.

plus500 features
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One area where I find Plus500 to be lacking is their leverage. Most brokers offer a decent amount of leverage to their clients which can be anywhere from 1:500 to 1:1000. However, Plus500 only offers leverage up to 1:30.

This can be really hard to work around, especially if you have a small amount of trading capital. It can be really hard to open bigger lots for bigger profits.

With that being said, leverage can also work against you. Therefore it is better not to leverage too much when just started. Increase it when you have gained sufficient experience and are profitable consistently.

Most traders like to have the ability to choose from a variety of different account types so they can find one that fits their requirements perfectly. However, Plus500 only gives you the ability to choose from two types of trading accounts, standard and professional. This can be quite frustrating as the account types may not be best suited to you.

Although Plus500 has a decent offering of funding methods like wire transfers, credit/ debit cards, and e-wallets, they don’t offer to fund your account using cryptocurrency.

Plus500 is among the leading brokers in the financial services industry. They are strictly regulated and provide a decent size offering for trading. Their customer support team is qualified and available at all times to assist you where needed. You can trade on their user-friendly platform that is fully customizable to your desires. They are definitely a top choice broker and fully recommended to sign up with.

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