Are you considering using Plus500 for trading? It’s one of the most popular trading platforms, but is it really the best or just the most overrated? Read on to find out.
What is Plus500?
Plus500 is a trading platform that provides access to a wide range of financial markets. It is one of the most popular trading platforms, with over 2.5 million active users worldwide. Plus500 was founded in 2008 and is regulated by the Financial Conduct Authority in the UK.
Plus500 offers two different types of trading: CFDs (contracts for difference) and spread betting. CFDs allow you to speculate on the price movements of financial instruments without having to own the underlying asset. Spread betting is a tax-free way of trading on the price movements of financial instruments.
Plus500 also offers a range of other services such as trading algorithms, automated trading, copy trading, and charting tools.
Plus500 trading features
Plus500 offers a range of features to make trading easier. These include:
- Easy to use interface: Plus500 has a simple and intuitive interface which makes it easy to use.
- Leverage: Plus500 offers up to 1:30 leverage on some instruments. This allows you to take larger positions with a smaller amount of capital.
- Competitive spreads: Plus500 offers competitive spreads on a wide range of instruments.
- Negative balance protection: Plus500 offers negative balance protection, which means you won’t lose more than your capital.
- Risk management tools: Plus500 offers a range of risk management tools to help you manage your risk.
Plus500 trading platforms
Plus500 offers a range of trading platforms, including the web-based platform, a mobile app, and a desktop app. The web-based platform is easy to use and can be accessed from any browser. The mobile app is available for iOS and Android and offers the same features as the web-based platform. The desktop app is available for Mac and Windows and offers advanced features such as charting and automated trading.
Plus500 customer service
Plus500 offers 24/7 customer service via email, phone, and live chat. The customer service team is knowledgeable and helpful and can help with any questions you may have about trading or the platform.
Plus500 fees and commissions
Plus500 charges no commissions and offers competitive spreads. There are, however, other fees such as overnight financing fees, inactivity fees, and withdrawal fees. These fees vary depending on the instrument and the account type.
Plus500 trading tools and resources
Plus500 offers a range of trading tools and resources to help you make informed trading decisions. These include charting tools, news and analysis, market sentiment indicators, and automated trading.
Plus500 customer reviews
Plus500 has a mixed customer reviews. Some customers are happy with the platform and the customer service, while others have had negative experiences.
Plus500 security features
Plus500 takes security seriously and offers a range of features to protect your funds. These include two-factor authentication, encrypted connections, and secure storage of funds in segregated accounts.
Pros and cons of Plus500
Pros:
- Easy to use interface
- Leverage up to 1:30
- Competitive spreads
- Negative balance protection
- Risk management tools
- 24/7 customer service
- No commissions
- Range of trading tools and resources
Cons:
- Mixed customer reviews
- Fees such as overnight financing fees, inactivity fees, and withdrawal fees
Conclusion
Plus500 is one of the most popular trading platforms and offers a range of features to make trading easier. It is easy to use, offers competitive spreads, and has a range of risk management tools. However, it also has a range of fees and mixed customer reviews. Ultimately, it’s up to you to decide if Plus500 is the best platform for you or just the most overrated.
