Plus500UK Ltd, a London-based company regulated by the UK Financial Conduct Authority, has operated Plus500.com, an active trading platform, since 2008. It provides CFD trading services across Asia and Europe, offering over 2000 assets.
Traders Union highlighted a review of Plus500, emphasizing improvements to its services and trading conditions for novices and experienced traders rather than a predominant focus on educational programs.
Plus500: pros and cons
Traders Union analyzes Plus500, evaluating the advantages and disadvantages of using this online trading platform. This critical review aims to provide an unbiased perspective for potential users.
- Extensive selection of tradable assets.
- Multilingual site interface with 31 language options.
- Convenient mobile trading capability.
- Lack of detailed information on trading conditions on the site.
- Occasional trading platform freezes.
- Issues encountered with fund withdrawals.
- There is no service for traders in Ukraine, the USA, or other nations.
- Prohibition of scalping, order hedging, and automated trading.
Expert review of Plus500
Traders Union’s reliable partner, Plus500, caters to a broad spectrum of traders, from novices to professionals in the Foreign Exchange Market. The broker specializes in active trading and offers various financial assets. However, Plus500 adheres to a conservative trading approach, discouraging automated systems, scalping, or hedging. Some common complaints about Plus500 include withdrawal issues and slow customer support response times. Although the website is user-friendly, it lacks comprehensive details on trading conditions and additional services, which could be important for traders to make informed decisions.
Analysis of the main features of the broker
Traders Union ratings for Plus500:
- Overall Score for Plus500: 2.88
- Execution of Orders: 2.67/10
- Investment Instruments: 3.09/10
- Withdrawal Speed: 2.73/10
- Customer Support Work: 3.03/10
- Variety of Instruments: 2.51/10
- Trading Platform: 3.25/10
A detailed review of Plus500
Traders Union highlights that Plus500, established in 2008, has provided services to traders across Asia and Europe, prioritizing innovative technologies, extensive benefits, and active client base expansion. As one of the leading CFD providers, Plus500 presents a unique blend of current technology use and a conservative trading approach.
Key Plus500 statistics include:
- Twelve years of financial market experience.
- Over 1 million open accounts.
- Offers 2,000 trading instruments.
Designed for active traders, Plus500 ensures independent trading without the use of trading bots or programs. The broker offers real and demo accounts, with real-time price changes for all trading assets displayed on the website.
Users can trade via the web format or mobile application, with the Windows 10 Trader platform also available.
Plus500 provides valuable services such as:
- An economic calendar for real-time trading and planning based on upcoming market events.
- Risk management tools for setting stop-loss and stop-limit levels.
- Notifications about price changes, daily or hourly percentage shifts, and seller-buyer ratios via email, phone, or online messages.
Best alternatives to Plus 500
Traders Union identifies credible alternatives to Plus500:
- RoboForex: Catering to beginners and seasoned traders, it stands out with its range of trading platforms, diverse instruments, competitive spreads, fast execution, and varied account options.
- Pocket Option: Known for its user-friendly platform and efficient mobile app, it provides access to a wide range of markets, educational resources, and responsive customer support. This makes it ideal for traders prioritizing convenience and flexibility.
- Tickmill: Attractive for traders seeking cost-effectiveness and performance. It boasts tight spreads, low commissions, and quick trade execution, along with excellent customer service and a comprehensive set of trading tools.
If you’re keen on exploring another broker, Traders Union offers an exhaustive Trading 212 review on the official website. For a complete examination and additional details, visit the Traders Union’s online portal.
In summary, Plus500 provides a robust platform suitable for new and seasoned traders, emphasizing technology for efficient trading. However, considering alternatives like RoboForex, Pocket Option, and Tickmill is recommended, given their unique offerings. Traders should evaluate their needs and read reviews, with detailed information on the Traders Union’s website.