The offshore FX broker PLUS500 provides two account types. It provides high leverages, fixed spreads, and the micro-lots. The broker pursues its offerings in CFDs on Stocks, FX, commodities, ETFs, and indexes. Let us dive into the ocean of offerings of this broker and find out more in this review.
The PLUS500 is based in the United Kingdom and it is authorized and regulated by local financial body Financial Conduct Authority of the UK. The FCA is the top leader among all the financial authorities. Being regulated by such authority is the sign of privilege for the broker and, safety as well as security for the traders. Furthermore, PLUS500UK LTD is also featured on the London Stock Exchange. It is also the biggest retailer of foreign exchange brokerage by market capitalization. Such a publicly listed corporation must fulfill rigid rules and regulations. They are bound to disclose their profit and losses from time to time. This makes PLUS500 the most reliable and credible FX broker. There are several ancillaries operating under regulations in countries like New Zealand, South Africa, Singapore, Israel, Cyprus, Australia, and other many more countries. As the name of brand PLUS500 suggests this broker, in reality, covers 2000 plus trading instruments. PLUS500 proudly features the Atletico Madrid soccer team as its brand ambassador.
The minimum initial deposit asked by Plus500 is £/$ 100 this is in accordance with the market average. The PLUS500 offers maximum leverage according to the instruments used. The FX has the leverage of up to 1:200, Indexes has the leverage of up to 1:300, commodities have leverage up to 1:150, and leverage on ETFs is up to 1:100. These leverages are also in accordance with market values. But bear in mind several regulated markets have capped maximum leverages far below the above-mentioned leverages. But the leverages provided by PLUS500 can cause heavy loss.
The PLUS500 provides fixed spreads of 2 pips on the prime currency pair EUR/USD. This broker also claims not to charge any commission on any trade. There are several risk management features provided by PLUS500. These are “Close at loss” and the “Close at profit” options provided to control overtrading. It also offers Negative Balance Protection so that your losses will be neutralized to zero in the case of negative balance. This broker also provides as much as four trading platforms viz MetaTrader4, MetaTrader5, cTrader, and SuperTrader. The funding and withdrawal at PLUS500 are done by many channels like cards, PayPal, Skrill, and bank transfer.
Is PLUS500 scam or legit?
The forex and CFDs broker PLUS500 is regulated and licensed. There are many perks associated with this broker. It also provides many trading instruments. However, whenever we talk about online trading it is prone to the risk this way or that way. The leverages are high and can cause loss. The leverages are also not in accordance with other regulated markets. Please make sure that this broker is regulated by a local financial body of your residential country.
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