- May 8, 2017
- By: Forex Reviewer
- 5 Comments
User Rating:Updated on: May 8, 2017
|Min. Deposit||Max. Leverage||Spreads From||Forex Pairs||Platforms||Mobile Trading||Broker Highlights|
50+ Currency Pairs
CFDs carry risk.
Plus500 Broker Review
Plus500.co.uk offers UK traders the opportunity to enjoy CFD Trading on forex. This prestigious trading platform is provided courtesy of Plus500UK Ltd, which is headquartered in London, United Kingdom. Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. You do not own or have any right to the underlying assets. Please consider the Disclosure documents available on the Plus500 website.
Traders can enjoy upwards of 2,000+ tradable instruments across each of the asset categories. Additionally, all traders’ funds are kept separate from the business funds by way of segregated accounts. This is precisely what the FCA stipulates in its client money rules. Another notable aspect of Plus500.co.uk is that it features mobile trading facilities for Android and iOS users, courtesy of the Google Play Store and the Apple App Store. Among others, traders will be able to enjoy a full suite of safe trading options, a demo trading account (with unlimited trades), and more. In terms of forex trading, clients will be able to enjoy 50+ currency pairs with leverage as high as 1:294, meaning that for a £200 deposit, you can have as much as £40,000 in leveraged trading capital available to you. Further, forex traders will enjoy no commissions and low spreads.
CFD trading is available with commodities, ETFs, indices, options, forex and shares. What’s nice about the shares trading market is that you can pick and choose from your preferred country, choose your preferred commodities, indices and currency pairs. The most popular category of tradable assets for CFD trading is currencies, and there are major pairs, minor pairs and exotic pairs to choose from. Options include the Germany 30, the France 40, the Netherlands 25, the USA 500, and Italy 40. ETFs (Exchange Traded Funds) include the likes of DBC commodity index fund, FXI iShares China, and others.
The Plus500.co.uk trading platform features proprietary software, in addition to technical analysis tools. What’s unique about this trading platform is that you get to dabble in several markets at the same time, all from the same screen. The trading platform makes it easy to enjoy a full listing of real-time quotes on all tradable assets. As a broker, you have instant access to contracts for difference (CFDs), exchange traded funds (ETFs), commodities trading, indices, stocks and a wide range of FX pairs. Traders will be able to see precisely which current positions are held. While you will not be able to see multiple charts and graphs on the same screen, you will be able to see each of these charts on its own. The trading platform is available in several different formats including a web-based trading platform, a full download trading platform (for desktop/laptop), Apple Watch trading platform, Android smartphones/tablets and Windows smartphones/tablets. The inclusion of Windows 10 and Windows Phone tops it all off nicely. The WebTrader platform is arguably the most popular of the lot.
Plus500 currently offers all new clients a £20 Welcome Bonus, T&C’s apply.
- Real money and demo trading options
- Multiple safe & secure banking methods
- Full integration of financial market trading
- No download WebTrader platform available
- 50+ forex pairs available to trade (Majors, Minors and Exotic Pairs)
- Full security checks are conducted with valid ID/Passport/License etc
- Full charting with a wide range of technical analysis tools available to traders
- Licensing and regulation courtesy of the Financial Conduct Authority (FCA) of the UK
- Plus500UK only accepts customers from the UK and Germany
- There is no telephone support offered to traders which is problematic if the Internet stops working
- Traders are cautioned that leveraged trading carries large potential losses
Overall, traders will find that this is an excellent CFD trading platform with a wide range of financial instruments. With 50+ currency pairs on deck, there are multiple major pairs, minor pairs and exotic pairs available. The £20 welcome bonus is particularly enticing on first deposits. The range of financial instruments for CFD trading covers the full spectrum – indices, exchange traded funds, commodities and stocks. The trading platforms make it a pleasure to trade at Plus500.co.uk wherever you are and whatever device you’re using.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for you. Please ensure you fully understand the risks involved.
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