Our Rating: 8.9/10
Account Minimum: XXX$
Fees Per Trade: XXX$
Quick Word:
Plus500 is another one of the majorly successful trading platforms, and their success lies in their costs. Plus500 targets users who want to minimize the costs of their trades as much as possible.
Pros & Cons:
Pros
- They charge no commission on trades, all costs are contained within spreads and they are extremely low versus other platforms
- Simple web interface and very easy to use
- The mobile application has all the features that the desktop interface has
- You can use charts for technical analysis as well as monitor trades and watchlist interests
- Access to a very large range of over 2000 financial products like stocks, currencies, etc
- No charges for withdrawals or account termination
- Good customer services with often very quick response times
- Access to simple call and put options
- Can open an account with as little as $100
Cons
- Their WebTrader is a closed application and not easily integratable with other third-party applications often used by advanced traders
- No access to MetaTrader4 (MT4) platform trading alternative which has more functionality and customizability
- Very little in-house research offered other than access to earnings calendars
- No educational material offered.
- No special features like copy/social trading or automated algorithms. Clearly meant as a simple cheap platform for executing trades.
- Inactivity fees for accounts that have been idle for 3 months
Plus500 In-Depth
Plus500 is another one of the majorly successful trading platforms, and their success lies in their costs. Plus500 targets users who want to minimize the costs of their trades as much as possible.
Their commissions are non-existent and the costs that they do have are contained within spreads. But even those spreads are extremely low in comparison to other trading platforms in the market.
Their platform is very easy and simple to use in streamlining trades in a few clicks but doesn’t offer many functionalities in addition to simple trades. Neither does it offer much educational content, in-house research, or integration with third-party trading applications.
They expect their users to know what they’re doing or seek educational content on trading/investing elsewhere.
Even though it offers limited advanced features and resources, the tradeoff of functionality versus the low costs gained makes it extremely worth it as a platform to trade with. Definitely one of the best for low-cost trading.