Plus 500 Review
Plus 500 are one of the largest CFD brokers in the world. New clients are able to claim a no deposit bonus and deposit bonuses based on initial deposits (T&Cs apply). Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Your capital is at risk.
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What makes them stand out in a few words?
A nice basic broker for new traders to get started with.
Plus 500 Spreads, Commission and Financing Costs
Spreads are tight as you would expect you can see a list of spreads and fees here. There is an in-activity if the account isn’t used through.
Market range and asset coverage.
Coverage is pretty good especially for the main market large cap stocks in the UK, Europe and the US, plus some Asian shares.
Obviously they focus more on the major FX pairs commodities and indices. you can see example spreads or search for anything you want to trade in the box below:
Main Advantages of Plus 500
- Easy to use
- Quick to sign up
- Full service demo account
- £20 new account offer
- FCA regulated
- LSE listed
- Good market coverage
- Tight spreads
- If you fund your account with £1,000 you can get a £150 bonus
Main Disadvantages of Plus 500
- A bit basic for professional traders
Education, Analysis and Added Value
The Plus 500 website has lots of guides, education materials and news flow. Not so great on webinars, but plenty of technical analysis available once signed up.
Plus 500Trading Platforms.
They only offer their own in house platform, no MT4 (you can compare MT4 brokers here if you want it). The platform has everything you need to get started in trading. Nice simple layout and easy to configure settings with a wide range of order types.
You can download a desktop version or trade online or through one of their apps.
Yes, Plus500UK Ltd. is regualted in the UK by the FCA – see their regulatory status on the FCA website here.
Fun fact about PLUS 500…
Did you know that if you hold capitals down when typing PLUS 500 you get PLUS %)). Maybe someone out there can tell us what emoticon you get with that.
What’s the PLUS 500 platform like?
Pretty basic, but that is not always a bad thing. If you are just getting started and new to trading simplicity can be beneficial. Trading is hard enough so a simple interface with a nice and easy buy/sell and line graph could be quite handy. If you compare the platform to market leaders like IG or ETX Capital there is really no comparison.
It’s a bit like the difference between a Nespresso machine and a kettle. They basically do the same thing, i.e. make a hot caffeinated drink, but in different ways. Sometimes you want a cup of tea and sometimes you want a frothy cappuccino.
How’s the company doing?
Well, it’s been a bit of a roller coaster for PLUS 500. They are one of the youngest CFD brokers (founded in 2008), but also one of the largest. You can see their share price and market capitalisation on Google Finance here (opens new window). As of today (14/16/16) they are worth $415m which is not bad going seeing as most forex, spread betting and CFD brokers have taken a battering after the FCA came out and said they were going to ban bonus promotions and limit leverage.
Which is not actually that much of a bad thing. Trading is not for everyone. The best hedge fund managers struggle to make more than 20% a year. Crisin Odey who has made money consistently since his hedge fund started lost over 50% of assets in 2016. So everyone busts out at some point, no matter how good you are. The FCA rules are there to protect customers from themselves and overzealous brokers for dealing with the wrong sort of customer. Odey Asset Management have a 23% stake in Plus 500 as of December 2016.
Overall ETX Capital Review Summary
A pretty good trading platform to get you started. It’s mainly an online brokerage so if you need to work really big orders for professional trading you may be better off with ETX Capital or Spreadex but certainly worth of an account.
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