Plus500 Review

Plus500 is widely recognized as an online broker specializing in CFDs, operating out of Israel and adhering to regulations across several jurisdictions via its subsidiaries. Launched in 2008, this brokerage offers a robust selection of CFDs encompassing Forex, Stocks, Commodities, ETFs, Options, and Indices through their unique trading platforms, which come packed with a variety of handy tools. They boast attractive trading conditions, featuring narrow spreads, no commission fees, swift and dependable order processing, along with responsive customer service for their more than 304,000 active clients. However, it’s crucial to keep in mind that 80% of retail investor accounts experience losses when trading CFDs with this provider, so carefully consider your capacity to manage the significant risks involved.

The product range at Plus500 is impressive, featuring over 2,000 CFDs from various well-known asset classes, including forex, stocks, indices, commodities, options, and ETFs.

Plus500 Trading Platform Overview

The brokerage offers its clients a proprietary trading platform known as Plus500 Trading Platform. This platform is user-friendly and includes various charting tools along with an integrated economic calendar. You can access Plus500 Trading Platform as a downloadable application for Windows 10, a web-based version compatible with most popular browsers, and mobile applications for both iOS and Android, as well as Windows Phone. In addition, Plus500 provides several other valuable trading tools like Risk Management Tool, Real-Time Alerts, Price Alerts, and Traders Sentiment.

Traders on the Plus500 platform can engage with over 2,000 products across an array of markets, all while enjoying competitive spreads and zero commission fees. You can search for instruments by name and view corresponding charts. The platform also facilitates both buying and selling to open positions, alongside real-time price updates. A variety of order types are supported. Users have the option to set up email, SMS, and push notifications to receive alerts about significant market events, such as price changes and shifts in sentiment. A summary of your current portfolio is conveniently displayed in the upper section of the platform.

Charting Tools and Economic Calendar Features

The charting tools available on the Plus500 platform are quite versatile, allowing you to display charts over various timeframes—from ticks to weeks—and in different formats, including candlestick, bar, and line charts. Common technical indicators such as Bollinger Bands, moving averages, MACD, and RSI are readily available, along with tools for plotting support and resistance levels and Fibonacci retracements. You also have the option to save chart templates for easy access later.

The economic calendar, which utilizes data from Dow Jones, is a valuable resource for fundamental analysis. It keeps you informed about the latest market news events and rates their potential impact from low to high. Information such as the release name, country, related instruments, date and time, influence level, and actual/past/forecasted results are all included. Additionally, you can opt to view company events, a feature not commonly offered by other brokers.

To ensure security, the platform employs two-step authentication for logins and also supports signing in via Google and Facebook for added convenience. While many brokers utilize the popular MetaTrader platform, Plus500’s trading interface is modern and sleek, providing all the features traders could desire within a clean layout. The platform is accessible in 32 languages, including English, Chinese, Russian, Spanish, French, and German.

Effective Risk Management Tools

Plus500 offers several straightforward yet effective tools to help you manage risk. You can set ‘Close at Profit’ (Stop Limit) and ‘Close at Loss’ (Stop Loss) orders when opening or adjusting positions, allowing you to define the price at which your trades will close to secure profits or minimize losses. However, be aware that these orders may close at prices different from what you’ve specified due to market fluctuations, a phenomenon known as slippage.

A “Guaranteed Stop” order can limit your potential loss to zero, ensuring that your position will close at the specified price regardless of market volatility. This option is available for select instruments, and users will see a checkbox on the platform when applicable. However, it can only be applied to new positions or pending orders.

A “Trailing Stop” order enables you to secure a set amount of profit. When you create a position with a Trailing Stop, it stays active as long as prices move favorably but will close automatically if the price reverses by a set number of pips. You can combine this with a Close at Loss order that adjusts as the market moves in your favor.

Educational Resources and Market Insights

For those looking to enhance their trading knowledge, Plus500’s website hosts a variety of instructional materials, including how-to videos that cover different aspects of CFD trading and trading strategies.

The news and insights section of Plus500’s website is also rich with content. Here, you can find intriguing articles that keep you updated on the latest market developments and their effects on various trading instruments.

In-depth descriptions of the instruments offered by the broker, platform features, a step-by-step guide to trading with Plus500, and essential trading terminology can all be found in their comprehensive eBook.

Final Thoughts

In conclusion, Plus500 stands out as a well-established broker focused solely on CFDs, operating under multiple regulatory frameworks. With a wide array of CFD instruments and favorable trading conditions, Plus500 provides a proprietary platform filled with unique tools; however, it lacks educational resources. It’s also important to note that Plus500 does not support automated trading. As always, remember that 80% of retail investor accounts incur losses when engaging in CFD trading with this provider, so assess your ability to handle the significant risk of losing your money.

Pros and ConsPros:

• Extensive range of trading instruments
• Modern trading platform
• Useful trading tools
• Competitive trading conditions
• Free trading guides
• Flexible funding options
• Availability of demo accounts

Cons:

• Does not accept traders from the USA
• Inactivity fees
• Currency conversion fees
• Overnight funding fees

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