- Plus500 vs Forex.com
- A well-regulated broker with competitive spreads
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- Plus500 Broker Review
- Plus Review - Is It the Largest Forex and CFD Broker Ever?
Confirm your current trading experience, employment status, financial details, as well as your prior knowledge in trading. Provide a photo of your driving license, passport, residence permit, or other government-issued ID; a photo scan of your bank statement or utility bill, and your social security number. You can simplify the sign-up process significantly by using your Google or Facebook login details.
Our team has found during this review of Plus forex broker that you need these details to complete the registration process:. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering. Although the latter is a little steep, the standard amount is very affordable, and the good news is that these requirements do not change no matter which arm of the broker you trade with.
When taking a look at deposit and withdrawal methods at Plus, our team found that you can choose from a range of instant methods, including e-wallets and card payments. When it comes to account currencies, Plus matches your base currency to that of where you live. This is somewhat limited to 10 currencies, however, but if you need to change it you can simply contact support.
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During our Plus broker review, we found out that the broker offers one retail account type to its clients, which is packed with useful tools and features. Although our reviewers would have appreciated more tailored account types, the retail account is suitable for both experienced and beginner traders. Plus offers a demo account that mirrors all the features and functionalities of the Retail account. The starting virtual balance is 40, USD, yet the moment you go below USD, the balance will automatically refill for you.
Unfortunately, our reviewers found that Plus does not currently offer an Islamic swap-free account. This is a big disadvantage for Muslim traders, as it means that Plus is not Sharia-compliant. The trading process at Plus is mainly facilitated by a proprietary platform that works with all main web browsers. On top of that, you can also download app versions of the platform which are available for Windows 10, Android, iOS, and Windows Phone. The Plus platform comes with around indicators, which is around average and supports an above-average number of languages.
Plus500 vs Forex.com
This makes the broker a great choice for non-English speakers. Plus offers 3 trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders. You can trade all instruments that are available at Plus, including forex pairs, shares, and indices,.
The WebTrader platform sends you real-time signals about price changes, as well as other price-related alerts and even trader sentiments.
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You can incorporate them into your trades to increase their profitability. There are also various orders you can place; stop-loss, take-profit, trailing loss, or guaranteed stop order. Plus also features the desktop trading platform that is called the Windows 10 Trader. It is available to download in the Microsoft Store.
Functionality-wise, Windows 10 Trader is basically the same as WebTrader and even the design of both platforms is close to each other. You can open trades on one platform and continue modifying them on the other without any shift in trading experience. You also get the same trading signals and have the ability to place the same order types on Windows 10 Trader.
Our Plus review team also explored the mobile trading platform that is available for Android, iOS, and Windows Phone devices. These are native apps developed by Plus , which means almost all the functionalities that you saw in WebTrader and Windows 10 Trader are also available on these apps. Trades at Plus abide by instant execution policies. You are able to place 60 simultaneous trades at Plus, which is a pretty good offer from the broker.
A well-regulated broker with competitive spreads
One of the biggest advantages of trading with Plus is that you have the ability to trade a huge selection of instruments. The broker offers over 2, trading instruments, spanning across seven different asset classes. Our review of Plus found that this broker is perfect for forex traders. Currency pairs are among the main trading assets and you can choose from major, minor, and exotic pairs.
In total there are 71 pairs available to trade.
Over 20 different commodities, including Oil and Natural Gas, are available at Plus These instruments come with the maximum leverage of for non-EU traders, which gives you the ability to increase your capital standing significantly and generate much larger profits. At Plus you can trade four different precious metals.
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This includes both Silver and Gold, as well as Palladium and Platinum. This gives you a great chance to hedge your trades against safe-haven instruments. Options are among the largest instrument classes available at Plus When it comes to indices, our Plus broker review has revealed almost 30 different indices that fall within two categories: country indices and sector indices. Plus also allows you to use the maximum of leverage for indices if you are trading outside of the EU. There are more than 1, different stocks available at Plus for you to trade. These shares represent some of the most powerful and popular companies in the world , including Facebook, Apple, Microsoft, and Alphabet.
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The leverage is , or for traders within the EU. Please note, the availability of cryptocurrencies is subject to regulations. When it comes to research, our reviewers found that Plus gives you a limited number of tools and features in comparison to other brokers. That said, you do have access to hundreds of indicators, trading signals, and sentiment charts.
The trading signals available at Plus allow you to keep track of market developments. Our team was also able to find hundreds of indicators that help you to perform technical analysis. For instance, you can incorporate Fibonacci Retracement lines in your trades to have a more or less clear idea of which direction the next price movement will be heading in. This is a great tool for any level of trader, however, we did find that the range of educational materials on offer was a little more limited than with other brokers.
Plus500 Broker Review
Overall, if you are a beginner trader, we would recommend signing up for a third-party learning course before trading with Plus Each video is around 2 minutes long, is very easy to understand, and comes with an extended article underneath. This should give you a good overview of key concepts. This area also provides details on the overnight funding charge for buying and selling, as shown below:.
Plus offers dedicated, multilingual support in 16 different languages 24 hours a day, 7 days a week through Live Chat, WhatsApp and Email. An FAQ section is also offered which covers the frequently asked questions for deposits, opening an account, verification, withdrawals and more. After logging into the Live Chat we were greeted by an agent instantly who answered our question within seconds, providing a very fast customer service response, as shown below:.
Plus does not offer any trader research tools or resources apart from an Economic Calendar which can be found on the website and in the trading platform, as shown below:. From our observations, Plus offers a simple and transparent trading offering. While trader research and educational resources are limited the Plus trading platform has a simple and intuitive user interface and is simple to use. Elected professional clients are offered maximum leverage of , but both retail and professional traders can enjoy commission-free trading with tight spreads and a negative balance protection policy which is a regulatory requirement for all European brokers and are therefore obligated to provide it..
Plus makes money mainly through spreads, with additional fees from overnight funding charges and currency conversion fees. Funds can be deposited into a trading account via credit and debit cards, bank wire transfer, PayPal and Skrill. Withdrawals can be made from Plus via credit and debit cards, bank wire transfer, PayPal and Skrill.
The maximum leverage offered by Plus is for clients categorised as Professional or for retail clients. An account can be opened at the click of a button on the Plus website and can be done in just a few steps. And I love the mobile platform. Excellent broker with the best mobile platform ever.
Plus Review - Is It the Largest Forex and CFD Broker Ever?
I started trading with P from March I have had losses and successful withdrawals. Both their deposit and withdrawals are seamless. I just loove them!