Plus500 Review

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Plus500 UK Ltd is a leading broker based in London, UK. Plus500 UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. You do not own or have any right to the underlying assets. Plus500 is a CFD Service broker allowing trading only in CFD products. Risk warning: your capital is at risk.

Bonus
Plus500 provide one of the best forex bonus. Customers Get £20 to start trading. T&Cs Apply. Bonus on all accounts including demo accounts. On an initial deposit, customers may avail up to £6000 in bonus.

Higher first deposit bonuses are available. Deposit from £100 to £50,000 and receive bonuses from £20 to £6,000, after specified minimum volume of trading. T&Cs apply.
Download the Plus500 trading software by CLICKING HERE Your capital is at risk
Click on ‘Trade for Real’
Click on ‘Open a new account’
Click on ‘Funds Management’ in the lower left hand corner
Select a deposit method
Enter the bonus code (from the table below) in the deposit field
The bonus amount will be added to your account once you have traded the required number of trader points

Minimum DepositBonus amountRequired TPointsBonus Code
£100£2050FIRST100
£400£100150FIRST500
£750£150200FIRST1000
£3,000£5001,000FIRST5000
£7,500£1,2002,500FIRST10000
£50,000£6,00010,000FIRST50000

One bonus per household/IP address.
The bonus expires in 3 months.

Get £20 to start trading. T&Cs Apply
Download the Plus500 trading software by CLICKING HERE Your capital is at risk
Click on ‘Real Money’
Enter your new account details and click ‘Submit’
In the drop down menu at the top of the page, click on ‘Account’ -> ‘Validate Phone’
Enter your personal details and click ‘ok’
Enter your mobile number WITHOUT the country code and click on ‘Send me a SMS’
Enter this code in the ‘3 digit code’ field.
£20 will be added to your account and you can start trading.

Bonus Requirements:
To withdraw your bonus you need 60 TPoints (trader points)
One bonus per household/IP address.
The bonus expires in 3 months.

Trading Platformplus50
Unlike other brokers who offer different kind of complex trading platforms, plus500 offers its customers only one in-house developed trading platform. It is available in three different versions.
* Web-based trading platform
* Downloadable software
* Mobile trading platform

Users can seamlessly switch between different versions without any data loss. Unlike MT4, the platform is not overloaded with information. Instead, it is simple and provides only real-time necessary information needed for a profitable trade. It also has a charting software where charts appear individually helping traders to open positions strategically. Being simple, this no-frill trading platform is perfect for new traders allowing them to trade in different markets and in different instruments from the same screen.

Types of Accounts
Plus500 offers two types of accounts. First is unlimited demo account and the other is live account. As the name shows the demo account is a free account and is only meant for the traders to practice their skills. Though the trades executed are real but the money invested and the profit gain is virtual. Second is the live account that requires a minimum deposit of £100. As an incentive, plus500 offers £20 bonus on demo and live account. Moreover it also offers bonuses on initial funding

Easy Deposit
Plus500 allows traders to deposit funds either by wire transfer, Moneybookers or major credit cards, whichever is convenient for them. However, for funds withdrawal, the traders must have to show a Photo ID that can either be a passport, license or any other valid document.

No-Frill Trading
Plus500 provides no-frill trading services. It does not charge any commission on the executed trades. Instead, it only charges spread as low as 2 pips on the executed trades.

Customer Support

To the disadvantage of customers, Plus500 does not offer fax or telephone support. However, it offers a quick 24/7 Live chat and E-mail in multiple languages. The email queries are answered quickly within 30 minutes.

Pros:
Provides tight spreads starting from 2 pips
User friendly and clutter free trading platform
Profit withdrawal is convenient

Cons:
Does not allow US customers

Conclusion

Plus500 is a well regulated brokerage that can be relied for trading. Although it lacks prompt customer support and does not accept US clients, still it makes a good choice for new traders as it offers a simple and intuitive trading platform for multi-asset trading.

Risk Warning: You should be aware that with all of these investments there is a risk of losing your capital.

 

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1 Comment
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