|Minimum 1st Deposit||20|
|Free Demo Account|
|US Traders Allowed|
Plus500, an online-based brokerage provider, is focused on the FOREX market. The corporate headquarters is in the UK and they are regulated by the British Financial Conduct Authority. Plus500UK Ltd is its registered name and with registration no. 07024970. The FCA number for the firm is ID No.509909. Plus500 do not accept clients or transactions that are coming from the United States.
This broker offers two account types. One can start with the demo account which is has an unlimited time and is free of charge. The other type is the live account and has a minimum deposit of $100. As an added bonus to clients, they offer a $20 Welcome Bonus for both account types. Clients can also expect more bonuses for those whose initial funding starts with $7,000. FOREX account leverage is 1:100.
Online Trading Platform
The proprietary trading platform and technical analysis software available for clients are easy to use and
comprehensive. The all in one trading screens and clear function labels make the trading platform user-friendly and advantageous to clients. One can monitor current positions, past trades and various market trading options. There is charting software that is part and parcel of the trading platform. The downside of the charting function is that it does not allow multiple screen presentation which can be good when doing comparisons. There are different versions of this trading platform for all types of gadgets.
Funding the Account
Opening a Plus500 account can be made through MasterCard or Visa credit cards. They also accept MoneyBookers transactions or through wire transfer. The Plus500 website would be able to guide the would-be client with how to go about funding the account. They have identification requirements and verification of residence address for all transactions made to them which include withdrawals.
Plus500 have had good client feedback when it comes to the 24/4 customer support. They have multiple language support both for fax and email. They have a chat facility and if the chat operators are not available the client can use the Contact Us form.
They do not support telephone calls which is a disadvantage especially when the client has no internet connection or the computer hardware runs into problems. A client must be able to have his own internet-based backup to be able to reach Plus500 in case something happens.
Plus500 is known to be a reputable FOREX trader throughout the UK.
For non-US traders, this online FOREX broker is a good choice due to its user-friendly, multi-asset and efficient trading platform. The demo account allows people to “test” them and get a feel of what they are capable of delivering. The generous bonuses are a good show of confidence of their trading transactions. Traders can integrate other financial market trades on the trading platform and look at them using one screen.
The overall assessment of Plus500 in terms of trading platform is that it is an excellent choice for those who want to get into the FOREX trading market.