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Plus500 Broker Review 2018

One of the oldest, best-known and most popular brokers 2018 for the exclusive trading of CFDs (differential contracts) is definitely Plus500 in the German-speaking countries, and we have taken a close look at the company, which has been in the media for a long time, and presented in our broker review 2018 what interested traders should pay attention to. According to an assessment of the Plus500 seriousness, we will focus more on the actual offer of this CFD service and show which factors decide whether it is worthwhile to register with the top broker or not.

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Plus500 has its roots in Great Britain. The company behind it, Plus500 UK Ltd. is also registered there. Plus500 is a trading company that now offers its products in many countries around the world. The CFD Broker was founded one year later in 2008 and was the first company to offer trading with CFDs completely free of charge. At that time, this was a real innovation and brought the company many satisfied and loyal customers. Trading in differential contracts is now possible on over 2,000 markets. Plus500 has been available in over 20 languages for several months and attracts new customers from all over the world. Plus500 is also the main sponsor of the Spanish football club Atletico Madrid, which won the Primera Division in the 2013-2014 season. This shows how much money is really behind the company.

According to its own information, Plus500 is completely debt-free and has a high level of liquidity. It is also worth mentioning that customer funds are kept separately from the company's assets in accordance with applicable law. Specifically, this has the advantage for traders that in the event of a Plus500 bankruptcy, it can be hoped that large portions of their own deposits will be repaid. Creditors will then have no chance of getting exactly these amounts when the debts are collected.

Plus500 is of course also regulated and authorized. This is done by the respective competent authorities of the countries with the three main branches. In London, UK this is the Financial Conduct Authority (FCA) for Plus500 UK LTD, in Sydney, Australia for Plus500 AU LTD the Australian Securities and Investments Commission (ASIC) and in Limassol, Cyprus for Plus500 CY LTD the Cyprus Security and Exchange Commission (CySEC). There, they take care of all matters concerning Plus500. The financial supervisory authorities are subject to direct instructions from the European Union, for example. The laws to be followed are therefore the same. The English authority in particular is known for its strict, rigorous and solid controls. Users of Plus500 can therefore assume that it is not fraud or rip-offs and that there are no dubious business practices such as manipulating the figures.

Not all traders are completely satisfied with Plus500. A quick Internet search or a look at the company's Facebook page comments shows that communication between Plus500 and its customers is not always flawless. For example, accounts are frozen without further explanation. Upon request, it will then become clear that an account is being transferred and that it should be free to trade again within a few days.

These and other examples make some traders disgruntled. They don't fully trust Plus500 and make this clear in various reviews on the Wold Wide Web. Again and again, however, it becomes clear that Plus500 is blamed for the simple loss of money. Forex trading is a risky business in which a trader can quickly gain a lot of capital, but also lose it. No one said that Plus500 can be seen as a kind of money printing machine. Therefore, critical comments must always be read and considered with great care. If the Forex system does not lead to the desired success, it doesn't mean that Plus500 is to blame.

During our broker review 2018, we naturally also took a close look at all support options. Typically, larger Forex brokers offer not only a contact via email, but also a free phone number and sometimes a live chat. Questions and answers in the form of a FAQ are also given online.

Well, all this is not happening with Plus500. Compared to almost all the competitors we have tested before, the service at Plus500 is extremely miserable. There is no need for a service number or a live chat. There is not a single online phone number that you can use to contact Plus500 directly and personally resolve questions and problems. Instead, a contact form is available via which customers have to contact the provider. In our broker review 2018 we would now like to describe our opinion on this kind of contact. In the broker review 2018, contact attempts were only answered after a few working days. We felt like we were being stalled here.

Nevertheless, we have received an answer to most of our questions through the use of an internet search engine. Thanks to Plus500, we have noticed that direct support from customer service representatives is not absolutely necessary. However, this is not meant to excuse or protect the company's poor customer service. We're giving a bad mark here.

Plus500 looks extremely respectable on paper. The company is growing and growing and now offers its services in various countries around the world. The fact that even a large and well-known Spanish team can now be sponsored shows how healthy the company is and how much capital is really behind it. Moreover, the regulations in two different countries of the European Union make it clear that Plus500 is serious. There is also a deposit protection for the customer's money, so that in the event of an improbable bankruptcy of the company, money is guaranteed to be repaid.

We are a little worried about the ratings of other customers. If it really is customary not to answer inquiries or only insufficiently, then there is a trust problem with Plus500. Even the virtually non-existent customer support disturbs us in our evaluation extremely. Our experience in this respect is also not overwhelming. We would like to recommend the broker, who is internationally active and one of the top addresses for beginners and newcomers, to reconsider his policy regarding customer support.

In the second instance, we took a close look at the advantages, disadvantages, conditions and services of Plus500. For each subitem, we have created a brief review that provides a comprehensive insight into how interested traders can make decisions for or against this broker. All information has been compiled to the best of our knowledge and belief after our personal broker review 2018.

Plus500 started as a pure forex and CFD broker. However, traders now also have opportunities to trade in other financial products such as indices, EZFs and commodities. It should be noted that CFD stock trading does not generate any commission that would have to be paid for Plus500. So not only forex traders but also traders who want to try other financial products should register. Plus500 can be seen as a real all-rounder, offering almost all important and interesting trade variants. More than 2,000 stores are tradable.

At Plus500, those responsible do not rely on a purely price-cost strategy that is intended to flatter users. With regard to fixed spreads, for example, comparatively high values of 2.0 pips are required for majors such as EUR/USD. As a result, customers do not have the opportunity to quickly break into the profit zone and have to keep their investments a little longer. 2.0 pips are above average compared to other providers. Especially the brokers with a higher minimum deposit, who have specialised in experienced traders, are significantly lower with their offers. For the beginning and for beginners, however, Plus500 should be within reasonable limits. After some time, however, newcomers would have to think about changing providers.

The maximum leverage offered in Forex trading is in the average range. While not all currency pairs are subject to the 200:1 leverage, this amount applies to majors such as the EUR/USD. The leverage for exotic currencies and currency pairs is significantly lower. For information: for CFDs, the maximum lever is also 200:1 and for indices Plus500 has slightly increased it to 300:1. ETFs, however, have a maximum lever of only 100:1.

The downside first: the software MetaTrader 4, which is admired by many traders due to its clarity and individual adaptability, cannot be used with Plus500. Instead, Plus500 provides its own web trader, which, thanks to its fantastic structure, makes it much easier for newcomers to start trading in foreign exchange.

Plus500 also has its own in-house trading platform, which is available for download. All you have to do is log in quickly with your identification data and you can trade directly from your own computer. In our broker review 2018 we find that this trading software is considerably less flexible than Webtrader. We would therefore recommend that you view the offer directly in your browser.

Plus500 also provides you with a free app. It is currently only available for Android and iPhone users. However, unlike many other providers, you can also trade on this. According to statistics recently published by Plus500, more than 40% of all trade transactions are now completed via the mobile app. However, we do not want to promote the use of such an app. The course overviews are often very small and difficult to see. This makes successful trading more difficult.

Deposits to Plus500 can easily be made via bank transfer, credit card and various other services that promise a direct transfer of money to the online account. These include well-known payment systems such as Skrill, Giropay and Papal. All in all, we are very enthusiastic about the wealth of different possibilities.

Withdrawals are generally made in the same way as the money is transferred to the online account. The most common method is the classic bank transfer. However, judging by the experience of some customers, the transfer of funds does not always run smoothly. Plus500 often requests more and more documents and takes a lot of time to check the submitted documents. We also had some problems with our payout in the broker review 2018, but in the end we found the money on our account.

Due to the regulations imposed by the regulation, there is no bonus for new customers at Plus500, which once again underlines the seriousness of the broker as he adheres to the regulation.

The low minimum deposit required by Plus500 is also very fair. Even private individuals can trade as quickly and easily. The minimum deposit is 100 Euro. However, interested private individuals should not enter the Forex market with such an amount. The money can only be split with difficulty, because too small positions in trading make no sense. It is advisable to join the Forex Broker with at least 500 Euros.

It is not interesting for forex trading that a total of over 2,000 marks can be traded. Forex trading takes place at Plus500 with over 50 currency pairs. Besides the majors there are also some exotic couples among them. In our experience, the list is constantly being expanded.

With regard to further training opportunities, Plus500 is very poorly equipped. There are only a few articles and information texts about what Forex trading actually is. Webinars, seminars, videos and eBooks were completely dispensed with. Small bright spot: a free demo account is included, which can be used indefinitely.

One of the largest forex brokers in the German-speaking countries made a rather mediocre impression on our broker review 2018. While the basic offering, internationalization and background check were positive, the Forex Broker saves money at important points, such as training opportunities and customer support. For this reason, more experienced traders who don't need help from staff should sign up.