Launched in 2008, Plus 500 has been in the trading business for almost a decade. Despite its relatively short presence in the industry, it’s already won the hearts and trust of 60,000 users. The investment broker is regulated by the Financial Conduct Authority, CySEC, ASIC and MiFID. It offers tempting bonuses on deposits and flaunts an efficient trading platform too.
I’ve dropped Plus 500’s name in a few conversations with my trader friends, and all of their faces lit up like it was Christmas day. After some judicious Googling, I learned that the company has a popular reputation so I decided it was ideal to check out. Here’s a summary of my experience.
Plus 500 is a renowned investment broker and is based in the UK. It’s registered with the British Financial Conduct Authority (FCA). Plus 500 is registered under the name Plus500UK Ltd with registration #07024970. The FCA registration number for the firm is ID #509909. From the starting line, the company warns you that your capital may be at risk. It’s sleekly designed platform goes the extra mile to prevent this by being concise and guaranteeing a smooth user experience.
Bonus and benefits
The money starts rolling in the second you sign up. Plus 500 gives you a welcome fee when you set up your account. The welcome fee increases as your deposit increases. It can be as low as 100 AED bonus for a 500 AED deposit or as high as 35.000 AED for a 200.000 AED deposit. If you’re a beginner, treat trading like a casual game of Monopoly and set up a demo account. This will simulate a realistic experience for you. The only element that won’t be real are your trading funds.
The company has impeccable customer service skills. Even through social media, its customer representatives keep their eye on the ball and their finger on the pulse of the market. I didn’t feel neglected or like I was wandering in the dark with Plus 500. They were polite, professional and proficient. Their positive energy gave me the self-confidence to go ahead and trade bravely. If you haven’t heard from them via email, I highly recommend getting in touch via Facebook.
Forex trading with Plus 500 comes with zero commission. I was also prompted to take advantage of the low spreads between the buy and sell prices. The commodities available with Plus 500 are natural gas, oil, gold, silver, cocoa, copper, platinum and brent oil.
Plus 500 prides itself in its transparency. All finances under its wing is guarded by Secure Sockets Layer (SSL). Before getting started, I was asked to carefully read through the company’s risk disclosure notice. No ambitious promises were made to me, and I was reminded of the very real possibility of losing all my money. There are no hidden fees or commissions with Plus 500. The rapidly growing company compensates for this with its reputation and spread.