Perhaps the best benefit of Plus500 is the wide variety of instruments that are being offered. This is a platform where you can trade with multiple instruments and generate massive profit.
Pros and Cons
Pros:
1. Local shares are offered.
2. Commissions are not fixed.
3. Spread is tight.
4. The broker is regulated.
5. It has huge collection of commodities, indices, and stocks.
Cons:
1. Scalping and forex robot techniques are not allowed.
2. CFD is banned from usage on this platform.
3. Islamic account is not offered.
Features:
1. Spread: Spread is fixed on most of the accounts, and it ranges from 1-6 pips. The spreads are consistent and tighter. For EUR/USD, the spread is fixed at two pips, which is acceptable as per standards of the market.
2. Leverage: The offered leverage is slight lesser than other brokers. The leverage starts from 1:50.
3. Commission: No fixed commission is charged over any account.
4. Minimum Deposit: The minimum required deposit is $100, which is slighter lesser as compared to other platforms. New traders who have registered their account on Plus500 will get a bonus of $25 which they can easily use in the trading. Demo account is also available for the practice purposes.
5. Strategies: All types of hedging techniques are allowed on Plus500. However, it restricts the use of scalping. Islamic account is also not offered.
6. Trading Platforms: They have their personal trading system, which can be used on the computer and on the mobile. They have introduced a very special version for smart phones. This version is very easy to use and can be used on the go.
7. Citizenship: CFD broker is not allowed in many countries, and Plus500 is operating under CFD. Hence, Plus500 is restricted in some countries, including US.
8. Instruments: Plus500 offers a great variety of instruments, including stock, commodities, and indices. This makes a huge variety for all traders.
9. Regulation: Plus500 is regulated under the FSA of UK.
10. Execution: market execution is offered for every type of account. We have found that the executions are relatively slower than other platforms.
Conclusion
Plus500 is a great broker that provides plenty of useful instruments. If you are the one who likes to trade with several instruments, Plus500 is the place where you should be at. Spread level is fixed and it is almost equal to other brokers. Plus500 is a regulated broker.