Forex was once known as the business of large financial institutions, always associated with the tie and suit people, but the Internet revolution reshaped the potentially lucrative business and made it available to the common man. Currencies can be traded from home by literally anyone who has interest and a little bit of money to trade. The brokerage companies rushed into remodeling of the business to make it suitable for anyone who would like to enter the market. This also gave rise to a vast number of new brokerage companies who want their own share of the market. The Forex market is highly decentralized due to the nature of the business and is a magnet for scammer companies. Therefore, we can say that Forex companies fall into two categories:
- Professional brokerage companies which operate fairly and provide a legal base for customers’ protection;
- Brokerage companies which are poorly regulated looking to take your money and deny access to your profits (if you are successful) using various methods.
It cannot be enough emphasized that as an individual one has to consult really all resources available to research the targeted Forex company.
*Your capital is at risk*
Plus500 Review: One of the Market Leaders
This Plus500 review deals with one of the most prominent names in the market. The company is headquartered in Israel with branches in the UK, Australia, and Cyprus, or in other words, in the areas where Forex trading is flourishing. With millions of users, it is a dominant company prevailing in Europe, Asia, North America, and Australia. Plus500 was established in 2008 and is regulated by the UK Financial Conduct Authority (FCA), Australian ASIC and CySEC (Cyprus).
- Established in 2008
- Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909), Australian ASIC and CySec
- Deals with some of the biggest traders in the market
Regulators are very important in this business, and they should be important to you too. They are the ones who fight to keep the market fair and transparent. Of course, some regulatory agencies are not as professional as others or lack the means to enforce the regulation. This is mostly the case for countries were the government is loose and where the overall economy is the victim of poor politics. The FCA as a UK founded organization is far from loose and unprofessional. They are known as one of the strictest regulators who committedly work to protect your finances and operate in your interest. ASIC and CySEC also employ a similar policy and are very trusted organizations which provide security for Australian and European traders.
If you want to join the Plus500, you will be glad to hear that you will get a £25/€25 Welcome Bonus without making a deposit. The Plus500 bonus is provided to new clients to allow them to explore the platform and get their feet wet with the market without putting their own money at risk. On the other hand, Plus500 is known as a huge player in the industry, which means that their clients are mostly big traders who trade a lot of money to win even more money. Novice and experienced traders alike will feel at home here.
Plus500 Platform and Availability
As every other established broker, Plus500 offers an excellent trading platform that meets the needs of a variety of customers and users. The Plus500 trading platform consists of all the features that a trader needs: currency pairs they trade with, the chart as a graphic reminder of what is going on in the market, Stop Loss option, and much more.
- Powerful trading platform
- A big number of currency pairs to choose from
- Charts and trading options to help you stay ahead
- Both downloadable and web-based platforms available
- Plus500 mobile app to always stay in touch with your trades
The procedure to make an account is simple. Just download the Plus500 trading platform and register. They also have a web browser online platform where no download is needed. Since 2010 a browser version is available to Linux and Mac users. A Plus500 mobile app is also available and it can be downloaded to your Android, iPhone, Windows, and iPad. That way, you can always take a glance at your trading activities and see where you are. You do not need to limit yourself to your home, but you can trade freely in a coffeehouse, at work, or wherever you want.
Advantages for Beginners
We already said that a £25/€25 Welcome Bonus is available with no strings attached. The Demo account offered to beginners is not time-limited as with many other brokerage companies, offering you an opportunity to practice as long as you want (and need). It is free and limitless. It is very important for beginners to start out with a Demo account to see how the Forex market works before they trade real money. Besides the welcome bonus, the bonus system can vary from £6,000/ € 7.000 depending on the deposit amount. Beginners on the platform will surely notice the Plus500 website is user-friendly and easy to navigate. It is apparent that the broker company put a lot of thought into the design scheme to make it easy to use and to find appropriate information.
Plus500 Keeps it Simple: Deposits and Withdrawals
Since they aim to keep everything uncomplicated, Plus500 offers one live account which requires a minimum deposit of $100. Deposits can be made via Credit and Debit cards like Visa or Mastercard, which is one of the preferred and fastest banking methods. Web wallets like Moneybookers, Skrill, and PayPall, are also supported. When you want to withdraw your profits, you will have to provide an official document with a photo like a passport, ID or driving license. This Plus500 Forex review lists the main features and advantages of the broker. For more detailed information, feel free visit the Plus500 website or contact their always helpful customer support.
Other Forex Brokers We Recommend
|Broker||Bonus||Min Deposit||Regulation||Review||Visit Site|
|XM||100%||$5||CySEC||Read Review||Open Account|
|HYCM||$5,000||$50||FSA||Read Review||Open Account|
|N/A||$100||CySEC||Read Review||Open Account|
|AvaTrade||40%||$100||MiFID||Read Review||Open Account|
|eToro||Up to $1000||$50||CySEC||Read Review||Open Account|
*Disclaimer: Bonuses are applicable only for traders from: Australia, South Africa, New Zealand, UK, and Germany. T&Cs apply.