Plus500 Review
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to share trading via the Plus500 Invest platform and a thorough selection of CFDs through the broker’s separate Plus500 CFD platform.To get more news about plus500 review, you can visit wikifx.com official website.
Plus500’s simplified trading platform attracts beginners looking for a user-friendly experience, but its limited educational content and narrow selection of market research will leave active traders wanting more.
Unlike brokers who offer non-deliverable spot forex as a rolling contract, all forex trading at Plus500 is done by way of CFDs. Plus500 launched shares trading in 2021 via Plus500 Invest, and also acquired a futures firm in the U.S. The table below summarizes the different investment products available to Plus500 clients.
Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g., buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
The table below summarizes the CFD investment products available at Plus500. Non-CFD shares are only available through the broker's Plus500 Invest platform.
Overall, Plus500's pricing is in line with the industry average but trails the best forex brokers when it comes to active trader pricing (see IG or Saxo Bank for comparison). Plus500 does not provide discounts to retail clients, but does offer cash rebates (akin to an active trader program) if you qualify and are designated as a Professional client.
Spreads: For the EUR/USD, the Plus500 platform displays a dynamic spread of 0.00008 (0.8 pips). Accordingly, the average spread from Plus500 for the EUR/USD during August 2021 was 0.8 pips, which is in line with the industry average.
The look, feel, and functionality of the Plus500 trading app closely mirrors the WebTrader browser platform, offering a satisfyingly seamless transition between platforms.
That said, like its WebTrader counterpart, the Plus500 trading app lacks the advanced tools and all-around functionality to challenge industry leaders. As an example, Plus500’s web charts do not sync with the mobile app – a feature you’ll find within the trading apps available at Saxo Bank and TD Ameritrade (U.S. residents only).
Trading tools: Plus500 has significantly improved its charting, offering 109 indicators and over 20 drawing tools. However, there remains plenty of room for improvement, and I’d like to see an increase in the number of features, such as news, research, and advanced trading tools – all of which are currently absent from Plus500’s mobile app.
The Plus500 web trading platform, WebTrader, is an excellent choice for casual investors due to its ease of use and its focus on providing just the essentials. Plus500 has continued to make minor improvements to its platform over the years, and as those enhancements have stacked up, Plus500 has edged closer to competing with the industry leaders in this category.
Platforms overview: Plus500’s web trading platform continues to be refined, and features pre-defined watchlists, the ability to add alerts on client sentiment data, and an economic calendar that displays related news powered by Dow Jones, and instrument information from Yahoo Finance that appears when viewing a given symbol.
While the desktop version of the app is no longer supported, the web version meets the requirements of a progressive web app and is installable as a Chrome app.
Charting: The Plus500 web platform features 110 indicators, over 20 drawing tools, and 13 different chart types. Though indicators are not automatically saved within the platform, you bypass this issue by instead saving your chart templates. It’s also worth noting that your chart settings won’t sync with the Plus500 mobile app, so they won’t carry over across devices. Overall, I was impressed, and I found Plus500 charts to be a smooth, responsive experience.
Ease of use: For newer traders, Plus500’s browser-based WebTrader is a great starting point before graduating to a more advanced platform. WebTrader is cleanly designed and focuses on simplicity. The few advanced features available within Plus500's flagship platform include trailing stops and guaranteed stop-loss orders (GSLO), which can be helpful risk management tools for casual traders.
