When it comes to trading forex, you have plenty of options. Of course, this can be a good thing or a bad thing depending on how you look at it. On one hand, you can research until your heart’s content and you find that one forex broker that meets most of your needs. But on the other hand, with so many to choose from, you could spend a few months researching until you come across the one that meets your needs best. Luckily, forex has grown in popularity and you can easily read reviews to help you more quickly narrow the playing field down. Or you can just go with best. This is precisely where Plus 500 comes in.
Important Features About Plus 500
There are many great features about Plus 500, so instead of giving you a laundry list of every single great feature, below are just the highlights of the most important ones.
Highly Regulated: When it comes to protecting your money, regulation is key. You need to know that you money is protected. Plus 500 is regulated by both the London Stock Exchange and the British Financial Conduct Authority, among others. Having these authorities overseeing the broker you are working with should put your mind at ease.
Great Trading Tools: Plus500 offers exceptional trading tools, including a handful of risk management options to help traders out. These risk management tools include:
- Account Leverage
- Close at Profit
- Close at Loss
- Guaranteed Stop
- Price Alerts
- Trailing Stops
Having these tools at your disposal could mean the difference between a profit and a loss.
Trading Platform: The trading platform that is used was developed in-house. This fact alone shows that they are serious about providing a great user experience and plan to be around for the long-term.
Free Demo Account: What if I told you that you could trade forex with zero risk? Well, you can’t trade actually money, but you can get a handle on placing trades, etc. with the free demo account option. Since there is a learning curve to forex, having a demo account to practice on is priceless.
Low Minimum: You can open a real trading account with Plus 500 for very little. Some brokers ask for thousands up front, but not here. The minimum is a few hundred.
Various Versions: When using Plus 500 it doesn’t matter where you are. If you want to trade, you have access to do so. You can download and use the desktop version, or the web version, or even the mobile version. Having the ability to access your account from anywhere is amazing.
24/7 Customer Support: In the forex trading world, having customer support at all hours is huge. In this regard, they do not disappoint.
The Flip Side
As with anything in life, there is a flip side to all of these great features with Plus 500. Here are the few issues.
No Chat Feature: While having 24/7 customer support, not having a chat feature is a hassle. When you are on the go, it is great to be able to start a simple chat as opposed to making a phone call or waiting for an email reply.
No US Investors: The biggest disadvantage though is that trading forex through Plus 500 is not open to US clients. While this is unfortunate for US citizens, UK investors can rejoice in having an excellent forex platform to trade on.
This completes this Plus 500 review and as you can see, it is certainly an option for anyone looking to get started with forex trading.
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