Plus500 is an online CFD (Contract for Difference) trading platform that allows traders to trade hundreds of different financial instruments such as forex, stocks, commodities, indices, and cryptocurrencies. It was founded in 2008 and is headquartered in Israel. Plus500 is regulated by several regulatory bodies, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
Account Types and Spreads
Plus500 offers a single account type to all its traders, which makes it easy for novice traders to start trading without having to choose between multiple account types. The minimum deposit required to open an account is $100, and traders can fund their accounts using different payment methods such as credit/debit cards, bank transfers, and electronic wallets like PayPal and Skrill. Plus500 has fixed spreads for most of its instruments, which means that there are no hidden costs or commissions.
Trading Platform
Plus500 has a user-friendly trading platform that is available as a web-based platform and a mobile app. The web-based platform can be accessed from any device with an internet connection without having to download any software. The platform's interface is easy to navigate, and traders can easily access different markets, view charts, and place orders. The mobile app is available for both Android and iOS devices and offers all the features available on the web-based platform.
Trading Tools
Plus500 offers several trading tools that can help traders to make informed trading decisions. These tools include economic calendars, price alerts, technical analysis tools, and risk management tools such as stop loss and take profit orders. The platform also offers a demo account that traders can use to practice trading without risking their real money.
Customer Support
Plus500 offers customer support via email and live chat. The customer support team is available 24/7 and provides quick responses to traders' queries. The platform also has a comprehensive FAQ section that provides answers to common questions.
Conclusion
Plus500 is a reliable and user-friendly trading platform that offers traders the ability to trade several financial instruments. The platform has a single account type, fixed spreads, and several trading tools that can help traders to make informed trading decisions. Plus500 is regulated by several regulatory bodies, which ensures that traders' funds are safe and secure. Overall, Plus500 is a good platform for beginner traders looking to start trading Forex and CFDs.
