Overview
Plus 500 offers a user-friendly platform together with some great bonuses for new accounts. You can see the straightforward layout of the screen in the screenshot below. There are clear graphing facilities, and a list of currency pairs with reasonable spreads.
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Opening an Account
The procedure to open an account with Plus 500 is straightforward, and you can see the screenshot above which shows the download process. A demo account is free to use, and can easily be upgraded to trade real money.
Basic Trading
The software interface provided by Plus 500 is simple to use and intuitive. The next screenshot shows the screen for trading a specific currency, and you'll note that the spread is only two pips for EUR/USD, which is reasonable for a heavily traded currency pair.
Incidentally, Plus 500 also offers trading on a number of other financial instruments, including stocks from several countries, and the screenshot below shows both American and European stocks.
Pros v. Cons
- √ Easy to use.
- √ Comprehensive trading tools available.
- √ Plus 500 provides 24 hour fax and e-mail support.
- x Some reports of being locked out from accounts.
- x Some reports of price manipulation.
- x Cyprus, the previous domicile of Plus 500, reported licensing issues.
- x Belize, their new location, has issued a warning and cease and desist order.
- x 24 hour support provided by Plus 500 does not include online or telephone "live" support.
Summary
- Price: Free.
- Ease-of-use: 4.9/5.
- Value for money: 1/5.
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