Plus500 Review

July 23, 2015

Plus500 is an FCA regulated broker and is based in the UK, Plus500 is also listed on the London Stock Exchange. They are perhaps the most controversial CFD broker in the UK and potentially Europe. Here is my honest review about them.

 

The Plus500 trading platform is available as a desktop platform and over the web. MetaTrader is not offered. Their platform is very user friendly and offers a wide range of CFDs including, Forex, indices, ETFs, commodities and equities. If you are new to trading Plus500 can be a great choice. The platform is simple and the platform layout compliments those with limited trading knowledge. The demo account has no expiry which is another advantage for a new trader. Spreads are fixed and are some of the best fixed spreads that I have seen. Unfortunately, that is where the praise ends...


The Plus500 trading platform is slow to load and navigate around, it can also be slow to execute trades. The charting software is extremely limited, a good amount of indicators are available but the charts are very basic. Any trader wishing to become profitable may find it very difficult using this platform.


Plus500 was the first broker I ever had an account with and I loved them. It wasn't until I opened an account with Oanda that I realised what I was missing out on. The platform now feels like it is created to attract those wanting a bit of trading fun through gambling or as a terminal to simply place trades while using separate charting software. I never had an issue with withdrawals, after all they are FCA regulated, I did however have a couple of limit orders that were not triggered. Customer service was fine and I received replies to my emails.


In summary, there are so many Forex and CFD brokers that are much better than Plus500. There are some positives about them and their platform such as very tight spreads and the range and variety of CFDs offered, but overall they are not a broker I would suggest.


To visit Plus500, please click here.

 

 


 

 

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