Plus500 is a brokerage service that serves traders online and specialises in the foreign exchange market. It has its headquarters in the United Kingdom. Clients from the United States of America cannot use its services. It is listed on AIM which is a part of the London Stock Exchange. It is tagged and followed as `The World’s Trading Machine’. It can be used for trading shares, forex, indices and commodities with its Contracts for Differences service.
Regulation and Security
Plus500 is regulated and authorised by the British Financial Conduct authority (FCA).The funds of its clients are given protection through segregated trust accounts. The website is secured by SSL (Secure Sockets Layer).
Trading Platform and Software
The trading platform offered by Plus500 is simple and innovative. It offers the complete package with a leverage of up to 1:300. Other features are a guaranteed stop, tight spreads and protection against negative balance. Traders are allowed to trade in more than one market from a single screen and real time quotes appear for all products. The main benefit of using Plus500 is its trading screen which is an all-inclusive one.
It has tabs that are labeled clearly on the top to provide details on previous trades and the current positions. There are four different versions of the platform – a downloadable version that can be copied to the desktop or the laptop, a web-based option that enables traders to gain access from any computer; the third version is the App for iOS, Windows and Android smart phones and the fourth version is for the Apple Watch.
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Plus500 provides two options for accounts. One is a demo account. It has no time limits and traders can open it without any charge. The second is a live account which needs a minimum deposit of $100.
Traders can fund their deposits through MasterCard or Visa credit cards, MoneyBookers or wire transfers. Plus500 will send details by email to its clients on how to wire funds to their bank account and also include the minimum and maximum amounts for deposit.