Welcome to our series of reviews of trading websites. Today we are going to be looking into the Plus500 website – design, services, trading platform, etc. Enjoy!
The first impression is quite good, the colours used are not aggressive, unlike many trading web pages. The top navigational bar opens automatically upon moving the cursor on it, which saves time. Some of the pages are a bit too long and it would be better to split them for better usability. Overall, the web seems quite decently designed.
News and other information
This website does not have a dedicated news section, the only source of information available is an economic calendar. There is no section dedicated educational section either.
Plus500 offers a fairly wide array of services. In addition to the standard instruments (commodities, shares, etc.) users can also trade cryptocurrencies. Due European regulations, the maximum allowable leverage is quite a bit lower than it used to be in the past (from 1:30 to 1:2 in case of cryptocurrencies).Trading spread is fixed at 0,0006. There are additional fees for overnight trading or guaranteed stop orders. There is also an inactivity fee.
Trading can be done via a phone app (iPhone, Android, Windows), Windows 10 app or simply using a webtrader. Signing up is very simple, you only need to enter you email and a password. We have tried the webtrader. It is fairly well designed; you can buy and sell various instruments with a few clicks of the mouse. Trading itself is fairly straightforward. You choose an instrument, select whether you want to buy or sell. In addition, there are several other options such as closing on selected profit or loss. There are other tools, for example you can set alerts for individual indices when price reaches certain values. These alerts can be delivered by email or by SMS (all notifications are free of charge). Some information is available inside the application, you can see how the price of the chosen commodity changed with time. You can also see trader’s sentiment (which shows whether other people prefer to buy or sell).
Conclusion and information about broker
Our overall impression of Plus500 is fairly positive, both the web and the trading are well designed and easy to use. On the other hand, almost no information is available to customers, which means that this broker is better suited for experienced traders. Like many other brokers, Plus500 is based in Cyprus. This company can be contacted by online chat, WhatsApp or email.
Overall assessment: 2-