Plus500 Review

Plus500 Summary Review

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Since it opened its trading doors in 2010, Plus500 has become a well known name in the world of online trading platforms, and with a massive increase in users throughout 2020, we wanted to see how far they have come in terms of keeping up with the large variety of new online brokerage services available online today.

Opening an Account

Plus500 have an excellent reputation throughout the trading community primarily because they are actually listed on the UK stock exchange, and are regulated by several top-end authorities such as the Financial Conduct Authority (FCA), and Plus500 has made the process of joining them on their trading platform quite simple, and we would dare say, easy. The entire process can be done online within a matter of minutes, provided you have available scanned copies of the usual proof of address and identity.

Plus500 requires a $100 minimum deposit before you can open your account, and although this is higher than a lot of the newer platforms, Plus500 realise it is rarely profitable to start with anything less and it also helps filter out having large amounts of users who aren’t very serious about trading at all.

Commissions and Fees

Something important to notes is that Plus500 is exclusively a CFD (Contract For Difference) broker service. By their nature CFDs are a great way to risk your investment on a security because you do not end up owning the actual asset, you just base your trades on how they move.

Because of their focus on CFDs, they does not charge any commission on CFD trading but instead take a fee from your spread returns, meaning you don’t have to worry about complicated fee structures and various other caveats. In general, this ends up being more profitable than other kinds of fee structures in other brokerages. Combined with no deposit or withdrawal fees, this makes the cost outcome quite easy to predict and manage. However, Plus500 does charge a $10 inactivity fee after 3 months of non-use, which can simply be reset if you just log in to your account.

Platform

Plus500 offer both a mobile app platform as well as a website platform which they have classically integrated as ‘Webtrader’. The platforms work together fluidly across any devices you are using, even if used at the same time, and multiple alerts can be set that will keep you posted if any of your holdings are reaching any particular goals. Plus500 offers something called charting too which allows complex technical analysis to be performed.

Range of Products

As a CFD broker, their range of products is comprised of CFDs based on a large variety of trade-able worldwide assets, and the range of offerings is truly large, covering a multitude of stocks, currencies (FX), and stock indexes. Almost all traders will be satisfied with the selection available.

Overall Verdict

In the end, Plus500 are an established and reputable player in the online trading world and they know what they are doing. The services are affordable, easy to access, functional, and provide an excellent variety of assets. The reliable platform makes trading simple and fun, and if you are happy with focusing on CFD trading then there is probably no better choice than Plus500.

OnlineTopChoice.com Plus500 Rating

★★★★★

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OnlineTopChoice.com Opinions

We carefully assess each forex broker to strict standards and compare them across a wide range of criteria. Although each forex broker will always have a slightly different set of advantages and disadvantages to their platform, the assessments are based on general performance, reliability, bonuses given, and other factors which are usually found or sought after in all forex broker platforms.

Online Top Choice helped me choose exactly the right platform that suited me best. As a beginner, that little extra help and information to get started was closer than I thought.

- Sarah C. Chicago IL

An excellent service and it came just at the right time. After several unsuccessful attempts at a previous unknown forex platform, this was what I needed. Thank you Online Top Choice!

- Patrick R. Los Angeles CA

Choosing the right platform that I will stay with for a long time made me nervous. And with so few good comparison sites for Forex, I thought I'd never decide... until I stumbled upon Online Top Choice.

- Jennifer D. London UK