My Plus500 Review:
Why I Switched And What YOU Need To Avoid…
Visit them first or visit them last, chances are you’re going to put your trust into Plus500.
But are they really worthy of their award winning status or are they just like every other broker on the market?
Keep reading to find everything you need to know in my Plus500 review where I share my thoughts and opinions of this rapidly growing company.
Remember, this is your money that’s at risk, so don’t you think it’s important to do your research before investing”
You’d be mad if you didn’t, so do read on..
I fully switched over to Plus500 just over 2 years ago. My previous broker was okay, but after some impressive changes and the direction Plus500 are going in, I gave them a chance that turned out to be a big win for me.
Their zero commissions was one of the big attractions that convinced me to switch, but it was their clutter free, clean and easy to use apps that really caught my eye.
They’ve obviously poured a lot of money into their technology and software which is paying off because it’s a massive time saver.
I think that’s why you’ll see Plus500 attract a lot of beginner traders as well.
That and their attractive spreads….Click here to see what I mean <<
Smart Trading + Big Wins..
Here’s why I think it was a smart choice moving to Plus500 and why you should make the move as well.
In the past 13 years as a Market Analyst I’ve seen firm after firm dropping like flies because they’re not properly regulated.
Plus500 are fully regulated by five different worldwide regulators, and knowing this gives me peace of mind knowing that:
a.) they’re following strict guidelines and not ripping their members off and,
b.) their a professional firm that plan to be around for the long haul.
It’s funny because I often read that some traders and brokers are not fond of the strict rules and regulations in place, but in my eyes this is a positive move because it forces people to do the right thing.
One Of The Best & Most User Friendly Platforms I’ve Used.
If you’ve never traded before or if you’re sick of your current platform then I highly recommend Plus500 because they provide a single trading platform which makes it super easy to monitor all your trades.
I rely heavily on the trends and it’s so much easier and less time consuming using Plus500 apps to monitor everything.
They have the fastest and cleanest software in my opinion. I have their app installed on my iPhone 6 and my iPad and so far it’s the only one that hasn’t crashed or given me any headaches.
The WebTrader also works like a charm and requires no download because it all runs from your browser no matter what operating system you use.
Plus500: No Scalping or Hedging Policy & Why This is A Good Thing…
You need to know this before creating an account, Plus500 does not allow hedging or scalping!
So, if that’s your strategy then this will not work for you because it’s against their TOS. They do have very strict guidelines but that’s why they’re one of the leading brokers that big time traders like dealing with.
Let me ask you this:
Would you prefer a company that is continuously working with regulators so they are complying with the latest policy updates?
Would you prefer one that lacks trust and doesn’t comply with regulators policies?
I know which I prefer and that’s the first option and here’s why…
If a broker is breaking the rules and willingly allowing their traders to break the rules, how can you confidently continue to trade with a sense of doubt in the back of your mind?
I think you’ll agree that losing sleep over something like this will only make you paranoid and drive you crazy wondering if your account is going to be closed down.
I’d much prefer knowing I’m in good hands and my money isn’t going to be frozen because a dodgy firm is being audited by the watch dogs.
What You Need To Know About Plus500
Here are some pros and cons that you need to know before depositing your money into your Plus500 account.
- No deposit or withdrawal fees
- Offers tight fixed spreads
- Has guaranteed stop losses & limit orders
- Has trailing stops
- No commission on trades
- Available in 23+ languages
- Offers price alerts
- $5 inactivity fee after 3 months inactivity
- Does not have direct market access
- Does not allow scalping
- Does not offer EAs
- Does not allow hedging
Check out where Plus500 rank in our top Forex broker list.