Plus500 Review: Claim Real-Money Bonus and Trade
If you are shopping around for a brokerage account it probably won’t be too long before you discover the Plus500 brand. The specialist Contracts for Difference (CFD) provider has grown rapidly since it set up shop in 2008. If you google search CFDs you’ll probably find the Plus500 brand appears high up in google search engine rankings along with its enticing bonus offering. The broker has won its status in part by delivering elegant solutions that showcase its high level of technological expertise. This is most evident in the user experience offered by its WebTrader platform. In this review, Realmoney.co.uk take a close look at the full product offering.
.WELCOME BONUS£20*No Deposit Required
Trade CFDs for Shares, Commodities, Forex
Free Unlimited Demo Trading Platform
Advanced Technical Analysis Tools
Real-Time Live Streaming Quotes
£20 Introductory Bonus Offer
The Plus500 bonus of £20 is available to customers that open a new account. Traders can withdraw the Plus500 bonus after accumulating 100 trader points. A trader obtains bonus points based upon their level of trading activity. For example, if you open a position on the FTSE 100 Index and buy a position worth £750, you will obtain 0.09 TPoints. TPoints on some contracts vary depending upon the specific spread at the opening time of each position. The Plus500 bonus is also split into different bonus offers that can be claimed using a bonus code displayed on the website. The sliding scale of bonus points offers a maximum deposit of £50,000 offering a bonus amount of £7,000 if 10,000 TPoints are accumulated.
More Than 1,000 Products to Trade
When you open a trading account with Plus500 you obtain access to CFDs on more than 1,000 different instruments across global markets. As the creator of the first Bitcoin CFD, you’ll also find that the Plus500 platform offers a technologically innovative place to trade. The broker’s Web Trader offers trading in stocks from more than 20 countries, including the US, Germany and France. Traders can also trade a variety of stock markets indexes, including the FTSE 100, DAX 30, CAC 40 and S&P 500. Increasingly popular Exchange Traded Funds (ETFs) are available to trade, providing exposure to a plethora of markets including the VXX Volatility, which enables investors to place bets on turbulent markets. Options are also available to trade such as Germany 30, Netherlands 25 and Italy 40. The platform also offers Forex trading in 50 currency pairs, including major plays such as EUR/USD, GBP/JPY and GBP/USD. Clients can also speculate on heavily traded commodities such as oil, gold and silver. This year Plus500 launched Web Trader, an intuitive trading platform that is compatible with both desktop and mobile devices.
BREAKDOWN BY NUMBERS:
- Up to 2,000 CFD instruments available
- Leverage – up to 1:294
- Use risk tools to manage trading risk
- Fund your account with as little as £100
- Educational resources
- Established in 2008
CFDs are leveraged products which means that they carry the risk that you could lose more than your deposit on a trade. If you trade major currency pairs on the platform you will typically obtain leverage of 1:200. If you trade the FTSE 100 the index offers leverage of 1:294 while an oil CFD provides leverage of 1:150. Plus500 doesn’t charge a commission or fees on trades.
The tech-savvy that Plus500 has become known for is evident in the platform’s state-of-the-art mobile trading app. The app’s elegant design is a valuable bonus to the trading experience and makes for an intuitive trading experience. A trader benefits from functionality that is devoid of clutter, cutting down to the key essentials of what you need when trading on the move. The app enables users to scroll seamlessly between screens and execute trading orders on the move. Stop loss and limit orders can also be placed to manage risk. The app is available for Android with operating systems of 3.0 or above and iPhone with iOS operating systems of 7.0 or above. Plus500 has also launched a Windows app supporting the Windows 10 and 8.1 operating systems.
Plus500 Online Trading App
View your balance, equity and margin
Real-time streaming quotes
Fund account by credit card, PayPal or wire transfer
The WebTrader platform is equipped with a suite of charting tools to help inform your decision making process when you decide to make a trade. Charting tools available include ADX/DMI, Alligator, Average True Range, Bollinger Bands, DeMarker, Fractals, Momentum, Moving Average and Standard Deviation. Click on the desired charting tool and you will see its assessment of the buying and selling signals of the security in the bottom screen, highlighted by green and red arrows. The snapshot can be adjusted from one week to a day hours or even just one minute.
Practice Trading with Real Quotes
When you log on to the Plus500 demo account the design and functionality is so intuitive that it just makes you want to make a trade. This review found the WebTrader platform has an elegance and simplicity that makes trading in demo mode a joy. Users can scroll down a narrow box on the left side of the screen to view all the assets that are available to trade. At the top there is a list of the most popular trading options, including sections: all popular, risers and fallers and my favorites. The demo account provides the same live snapshot of the markets that you see when you put real money on the line. There is no time limit for using the demo account and online support is available as you trade.
Aim-Listed, Multi-Lingual Customer Support
As a fully regulated and authorised firm overseen by the UK’s Financial Conduct Authority (FCA), Plus500 provides its clients with a safe and secure place to invest. This is a scam-free broker that is mindful of the importance of good customer service. The broker is listed on the AIM section of the London Stock Exchange and in February 2014, Plus500 reached a market valuation of $1,000,000. Customer support is available via the platform’s online chat function or via e-mail. While customer support is available in 32 different languages the broker doesn’t provide customer support via telephone or post. In an industry targeted by scam artists attempting to commit fraud from unwitting investors, such robust levels of consumer protection are essential.
- Live Chat:24/7
- Contact form:Message Service
Payment MethodsMaestro, Visa, American Express, MasterCard, Skrill, PayPal, giropay and more.
Innovation in Finance
The one certainty in financial markets is change. Markets move fast as does the technology needed to navigate them. Plus500 is attuned to these technological challenges and has developed a high-tech CFD trading offering for your desktop or mobile device. A demo account with the broker can be quickly set up to test the offering with no strings attached. This perhaps demonstrates a level of confidence that the broker has in its offering. The high-level of risk that comes with trading CFDs means that the products are not for everyone. Still, if you have a professional and disciplined trading approach, this review concluded that Plus500 could be a smart, scam-free choice as a tech-savvy home for your CFD trading.