Plus500 Forex Garners Market Attention In The Latest Expert Ranking
Securing the 58th spot in Traders Union’s Best Forex Brokers of 2023 ranking, Plus500, despite its cautionary overall score of 6.3 out of 10, stands out for its stringent regulatory compliance, user-centric WebTrader platform, and a commendable focus on account security, though it lags in providing advanced trading tools and trust management features.
Plus500 has garnered an impressive market attention during the Traders Union Best Forex Brokers of 2023 ranking. The platform ranked 58th among 350 companies evaluated by TU experts, with an overall score of 6.3 out of 10.
While this threshold represents a level where traders have to exercise caution when dealing with the platform, Plus500 comes with a number of good points that deserves attention.
The platform, launched in 2008, is one of the most well-regulated in the Forex industry. It is backed by heavyweights in the licensing scene including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySec), and the Australian Securities and Investment Commission (ASIC).
Plus500 Forex offers online trading through Contracts for Difference (CFDs) via its proprietary platform, WebTrader, lauded by Traders Union experts for its secure and user-friendly execution environment.
A standout feature of Plus500 WebTrader is its two-step login security, safeguarding trader accounts and information.
Additionally, it offers comprehensive reports on fees, historical transactions, positions, and critical activity details. It facilitates asset searches and provides notifications via email, SMS, and push notifications, triggered by significant price movements for its clients.
On the downside, it falls short in certain areas, notably lacking built-in tools for in-depth trading analysis, automated trading functions, back-testing capabilities, trading algorithms, and third-party fund management options. Advanced traders may require supplementary external tools with their trading strategies, and this is where Plus500 lags.
Moreover, the broker lacks trust management features and does not offer an accrual percentage of an account’s balance. It also has no deposit bonus which is a huge letdown for many traders, and has no cent account.
Beyond the long list of shortcomings in its features, Plus500 operates across Europe and the Asia-Pacific region under regulatory oversight, enhancing its secure trading environment. Listed on the London Stock Exchange (LSE), it enjoys transparency and credibility.
Plus500’s global presence offers a diverse product line, eliminating the need to switch between platforms. Its user-friendly interface, accommodating both novice and experienced traders, streamlines the trading process.
The firm prioritizes security and compliance, including the practice of segregating client capital. Its flexible approach caters to various trading styles, from manual to algorithmic strategies.
Plus500 WebTrader, known for reliability and user-friendliness, boasts competitive spreads and negative balance protection. It provides a secure and cost-effective trading experience, making it an appealing choice for traders.
Benzinga.com highlights that Traders Union’s Plus500 Forex review encompassed all the important discussion points every trader should know before investing in Plus500.
The review serves as a helpful guide for this that has been eyeing the UK brokerage company for long but lacks relevant information about its features and limitations.
Traders Union has been providing valuable investor information since its launch in 2010, in line with its vision to provide complete and unbiased review of Forex platforms worldwide.
