Plus500 - CFD Trading Review

Plus500 is one of the most immediately recognised names among today's online market trading platforms, having been established in 2008. It is one of the most respected providers of Contracts for Difference (CFDs), and those looking to trade CFD can have faith in this platform's combination of zero commissions and advanced trading tools.

Accounts

Potential Forex traders at Plus500 have two accounts to choose from - the Demo mode that enables them to practise trading with real quotes, and the Real Money one which, as the name suggests, involves trading for real money.

Those who are happy to use the Demo account to begin with can simply get started, but those who intend to trade for real money and manage their own funds will be required to undergo a more comprehensive - but nonetheless still quick - signup process.

Switching between Demo and Real Money modes is easy once the user is logged in - all that they have to do is click the relevant blue button at the bottom of the trading platform interface.

Plus500 Bonus

Plus500 takes great pride in the £20 that it gives to every person registering with the site to trade CFD - and there's no deposit required, T&Cs apply. The money appears in the user's account balance in the Funds Management part of the site as soon as they sign up for a Real Money account.

As well as this welcome bonus, there is a first-deposit bonus that is higher when the user places a more generous initial deposit (minimum trading required for withdrawal. T&Cs Apply). Even those depositing just £100, for example, can enjoy a £20 bonus, but those depositing at least £40,000 can look forward to a rather more substantial £6,000 added to their account.

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Features

Members of the site can trade on the CFD market with as much as 1:300 leverage, meaning they can start trading with as little as £100 to gain the effect of £30,000 capital.

As well as Forex, Plus500 specialises in trade shares, indices and commodities through its renowned CFD service. Plus500 Ltd is listed on the AIM section of the London Stock Exchange, and members of the site can trade CFDs on stocks from 20 countries, for example, including the UK, US, Germany, France and many others.

The FTSE100 can also be traded via the site with no commission and low spreads between the buy and sell prices, while those interested in commodities will be delighted to hear that they can trade in gold, silver and oil via the platform with up to 1:152 leverage.

ETFs CFD trading and options CFD trading are among the other specialities of this widely respected and recognised site.

Platforms

Plus500 has long been a trailblazer in the now increasingly competitive online market trading space - its PC-based platform was launched in 2008 and by 2011, the company was already boasting more than two million monthly transactions.

2008 was also the year in which the company launched its first iPhone and iPad app, and there's no doubt that whether clients trade Forex via their desktop PCs or 'on the go', they benefit from an extremely clean, functional and unpretentious interface. This is a platform that is all about purposeful business rather than graphical flair.

The trading platform is free to use and incorporates the likes of professional graphs, profit/loss limits and a variety of currency pairs to help ensure you gain the maximum value from your CFD trading.

Education

The site's FAQs database is the perfect place to start if you are the kind of 'green' trader for whom such questions as "What is a CFD?", "What is an Order?" and "What does "Leverage" mean?" still need to be answered.

As a matter of fact, this part of the site can answer your questions on almost everything relating to online trading and Plus500 specifically. Simply browse the site's various FAQs categories, including Account Verification Process, Financial Instruments, Submitting Identification Documents and so on to learn more.

Those who wish to swot up on the full list of CFDs in which the site specialises, meanwhile, can simply click the 'CFDs' option on the homepage top navigational bar to familiarise themselves with all that they need to know about the likes of shares, commodities, indices and - of course - Forex.

Finally, a video demonstration and other informative documents can be easily enough reached via the online market trading platform itself.

Trade at Plus500 Forex Trading

Deposits/Withdrawals

Placing a deposit is easy enough at Plus500, with accepted methods including debit and credit cards, PayPal and bank transfer. There are minimum and maximum limits with which to comply, depending on your chosen deposit method; in the case of payment cards and PayPal, these are £100 (minimum) and £35,000 (maximum).

Before you will be allowed to withdraw money from your account, you will need to provide some form of ID, which could take the form of a photo of your passport, ID card or driving licence. Those using the mobile app can even take a direct snap of the relevant documents to verify their identity.

Customer Support

You can obtain help from Plus500 in a number of ways.

Plus500 Forex trading review

While you are using the online trading platform itself, for example, you can simply click ‘Menu’ in the top left-hand corner of the page and click ‘Help’ to present various customer support options such as ‘Live Chat’ and ‘Online Help’, the latter directing you to the site’s comprehensive FAQs section.

Users can also easily access various other documents that will enable them to gain the most benefit from Plus500, while there’s even a video demonstration that helps to demonstrate the basic principles behind the site.

Bottom Line

Plus500 isn’t merely one of the most instantly recognized names in the world of CFD trading – it is also one of the best places online in which to partake in this kind of trading. There are attractive bonuses, and the advanced trading tools specific to Forex enable you to not only get into this type of trading, but also make serious money with it.

With the likes of shares, indices and commodities all covered by the site’s CFD service, it’s difficult to think of a better place to participate in all manner of types of trading - but particularly Forex trading - than Plus500.

 

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Your capital is at risk

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