Plus500 forex broker review

Plus500 website
Plus500 CFD Service

Plus500 CFD Service is still quite young (the website was established in 2008), but since their launch they have become one of the leading online trading platforms.
Even though Plus500 started purely as a forex broker, options to trade other things like commodities and stocks have been added over the years. So if you feel the desire to expand into other trading markets, you can do so at Plus500 CFD Service.

An interesting bonus of course, but in the rest of this review we'll mostly concentrate on what Plus500 has to offer for forex traders.

Software

Forex traders will find that the software at Plus500 is very easy to use. There are three ways to trade: a downloadable trading platform, the browser-only WebTrader, and a mobile version of the trading software, suitable for both tablets and smartphones.
They all offer the same essential options needed for instant online currency trading, which are integrated in such a way that it's very easy to switch from one mode to another. This is of course a big plus, because in forex trading, it's very handy if you can check and change your positions at any time.

The downloadable and browser version offer the most features. From the main screen, you immediately have access to real time prices for all currency pairs. Graphs displaying the trend of a particular pair are also provided, and with one click you can view your all your current and past trades.
Another nice option, is that you can set price alerts for selling prices. When your desired price is reached, you'll automatically be informed through e-mail or via text message.

Extra features

Plus500's main extra feature is the unrestricted demo account. It gives you unlimited learning opportunities, which is something that especially beginners in the currency market should appreciate.
At the website, you'll also find an archive of general information about the forex market. The good thing about this is the rather simple way in which things are explained. A possible downside is that this section can be a bit limited for more experienced traders.

Bonuses

Opening an account will only take a minute, but if you enter more detailed account information later on, and confirm your phone number (you can choose to be called, or to receive a text message), a €25 no-deposit bonus will be credited to your account instantly. You are free to use this money for real money forex trading.
In this article you'll find a more detailed explanation of how to receive this bonus.

Additionally, Plus500 offers deposit bonuses of various sizes, and you can receive some really big cash amounts with them.
There are six bonuses to choose from. You can clear them by making real money currency trades, which earn you TPoints. Below you'll find the bonuses, their associated bonus codes, and the required TPoints to clear them. You can enter the bonus code when you make your first deposit.

Minimum depositBonus amountRequired TPointsBonus code
€100€3050FIRST100
€500€150150FIRST500
€750€200200FIRST1000
€5,000€1,0001,000FIRST5000
€7,500€1,5002,500FIRST10000
€50,000€7,00010,000FIRST50000


Full details about these bonuses can be found at the Plus500 website. Keep in mind that your capital may be at risk.

Plus500 trading software
Plus500 trading software

Depositing and withdrawing money

Funding your account at Plus500 can be done with Visa, Mastercard, Moneybookers, bank wire transfer, and Paypal.
Plus500 is regulated by the British Financial Services Authority (FSA). This means your money is kept very safe, but also that some extra actions are required for withdrawals. You have to submit a copy of an official photo ID, like a passport or driver's license, which you can either upload through the trading platform, or send by e-mail.

This may seem like a bit of a hassle, but it is very common at online forex brokers. Besides, precautions like these are designed to keep your money safe, and of course that is worth a little bit of extra effort.

Conclusion

Plus500 CFD Service is an excellent starting point for anyone interested in trading at the foreign currency exchange market. With its unrestricted demo account, some welcome bonus money, and easy to use software, this forex broker is extra interesting. Due to its extensive possibilities, many users will never feel the need for another forex broker again.







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