Plus500 At A Glance
Broker : plus500.co.uk
Founded : 2008
Headquarters : UK
Minimum Deposit : $100
Minimum Trade Amount :
Maximum Trade Amount : $2500
Languages : 36
30 days and $250. Our Starting Point…
The one we have been waiting for ! Plus500.co.uk is seen to be one of the market leaders, the main players, the pioneers within the industry. Viewed by their peers to be the pinnacle of how a company should be run. Lets see if the rumors are true when we dive into our Plus500 review ! !
We give our test trader total control over all activities within the Plus500 review period.
Our Plus500 review will dissect how this beast works and if at all anything can be improved on along the way. Our Plus500 review trader will have 30 days and $300 with which to full understand the ins and outs of dealing with plus500 from the trading platform down to the customer service they receive.
Plus500.co.uk is, as a binary options company, just a small cog in a very big wheel. Owned by Plus500 UK Limited this UK based company which has its main offices in the City of London offers binary options as an extension to other services with which the company is mainly associated. Its main service is to offer Contracts For Difference or CFD’s. It is stated on their website that it is the CFD side of the business with which Plus500 are regulated by the Financial Services Authority or FSA. As the binary options industry is not actually governed by any official financial body its a nice thought to know that the company that you do trade with is at least part of something bigger that is authorised. The FSA is certainly regarded as one of the worlds most stringent financial bodies to adhere to.
Accessibility and User-Friendliness Review Score 8.5/10
First things first Plus500 do not openly market themselves as a binary options company. Their opening statement explains that they enable, you, the investor to trade purely on the movement within the price of the stocks, commodities, indices and Forex without physically buying or selling within the market. Straight away this gives the impression that Plus500 is not aimed towards the beginner but more the advanced, experienced trader. Its almost as though the binary options side of the business is like the playground where the heavy hitters come to relax and try and earn some cash ! However they also state that those traders consist of over 1,000,000 people worldwide and more that 2,000,000 monthly transactions. If these numbers are correct then this makes Plus500 without doubt the biggest fish in the binary options world!
The way in which the platform has been developed is certainly with the experienced trader in mind. As mentioned before the binary options side of it is not obvious and you really need to dig deep to be sure that you are trading on the movement and not actually purchasing the stock itself. As compared to previous binary options that are a bit flashy and almost present a “fun” feel to them, plus500 certainly does not. Its almost as though your in a posh house and your scared to knock something valuable over therefore spending most of your time sitting on your hands ! ! There is the chance to use a demo account, something that is very rare within the binary options industry. You can from here move around placing trades as you wish and generally getting a feel for everything before committing with your own money. A nice feature and something our reviewer would love to see on other platforms in the future. Plus500 also claim to have the most downloaded CFD trading app through the Apple’s Appstore. Again what relevance this has to binary option trading we are unsure as our reviewer did not make the download, possibly though something for a future review.
Trading Platform and Features Review Score 9/10
Unfortunately our reviewer, based in the US, however he was able to do a solid platform review by using the demo accounts. The reason for this is that US citizens cannot trade through Plus500. This is a common issue which can occasionally be overturned, but not in this case.
The Plus500 platform which is created inhouse is comes in three formats, downloadable, mobile and web-based. This is the first time we have seen these 3 options on offer as with most binary option companies they are soley web based platforms. Our review liked the fact that all the essential information that you need to know when engaged in a trade was all provided on just one screen. This eliminates the need to scroll up and down in order to find information. However, what was noted from our reviewer that proved that Plus500 does have the new trader in mind is that there is no option of opening multiple graphs and charts all at the same time. But without the frills getting the new trader in through the door in the first place may make the lack of options irrelevant.
Trading Instrument Variety Review Score 9/10
Well where do you start ! ! There are over 1000 trading instruments on offer with Plus500. This is by far and alone the largest amount of instruments on offer anywhere within the binary options industry. Again as noted within our previous reviews the amount of assets on offer is a good place to start when deciding on who to partner with during your trading journey. A profitable trader will very rarely stick to the same assets over and over again, so having a vast amount on offer means this variation will constantly allow you to move around the markets picking away at the good trades. Every possible asset you can think of is here ! Company stocks, currency, indices, commodities, everything has been thought of. The professional yet basic manner of the platform merged with the tremendously extensive assets on offer should make for a happy formula to build a successful trading account.
This is by far and alone the largest amount of instruments on offer anywhere within the binary options industry.
Customer Services Review Score 8.5/10
As our reviewer was unable to physically make a trade as being a US citizen the payout section of this review is unable to be carried out. The reviewer did however extensively use the customer services within the company to ask questions and generally grill their department for answers. Strangely they do not have either an online chat facility or even telephone system so therefore the only option is to email. Suprisingly though this is an excellent service and something they should be credited with. Never at anytime either day or night weekday or weekend was the “email department” unattended. The responses were fast and accurate with they answers when even posed with intense or heavy questioning. Our reviewer could only conclude that dealing with the 1,000,000 clients that they state on there records having a phone or online chat system would surely be a monumental task to manage hence why the email system is the only one on offer.
Conclusion
plus500 is a hugh enterprise covering a sizeable range of CFD’s (Contracts of Difference). What makes plus500 different is that don’t actually specialise in digital binary options, they’re involved in the traditional options market, where spreads, take profits and stop losses needs to be fully understood to produce consistant health profits. While we liked Plus500 because of the professional manner with which they dealt with us, and everything was straight forward, we believe that for beginner traders attempting to make profits from traditional options betting could find an easier start with digital binary options.
