Platforms
Now you are reading
Plus 500 trading platform – underrated but with potential [Review]
1

Plus 500 is a Forex/CFD broker recognized all over the world. In a short time, this brand has gone from a relatively simple offer to comprehensive solutions for traders, offering them a number of investment opportunities. Plus 500 is highly visible on the Internet and more - the company has been the main sponsor of the Legia Warszawa football club since mid-2020, and its logo can be found on the Chicago Bulls and BSC Young Boys T-shirts. It is also listed on the London Stock Exchange, and the company's capitalization exceeds £1,72 billion (!). The offer based on an intuitive trading platform combined with a demo account and effective online campaigns turned out to be a hit.

Licenses held:

  • Plus500UK Ltd is authorized and regulated by the Financial Supervision Authority (FCA) (#509909).
  • Plus500CY LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) (#250/ 14).
  • Plus500SG Pte Ltd is licensed by MAS (# CMS100648-1) and IE Singapore (# PLUS / CBL / 2018).
  • Plus500SEY Ltd is authorized and regulated by the Seychelles Financial Services Authority (License No. SD039).
  • Plus500EE AS ​​is authorized and regulated by the Estonian Financial Supervisory and Restructuring Authority (License No. 4.1-1/18).
  • Plus500AE Ltd is authorized and regulated by the Dubai Financial Services Authority (F005651).
  • Plus500AU Pty Ltd (ACN 153301681), licensed for:
    • ASIC in Australia, AFSL #417727. FMA in New Zealand, FSP #486026; Authorized financial service provider in South Africa, FSP #47546. You are not the owner or have any rights to the underlying assets. Please read the financial statements documents available on the website.

Let's move on to what we will be interested in in this article - the trading platform.

Offer and trading instruments

Plus 500 initially focused on simplicity, both in terms of the commercial offer and the platform itself. Over the years, this concept has not changed, although many things have been added. Currently, the platform offers CFD instruments based on currencies, shares, indices, commodities, cryptocurrencies, options and ETFs. In total, there are over 2000 of them, but interestingly, access to stock exchanges covers as many as 26 countries, including such niche markets as South Africa, Sweden, Hungary and the United Arab Emirates. The platform also offers thematic indexes covering various industries, such as: Crypto10 with exposure to cryptocurrencies, BAIGUI with exposure to companies from the sector artificial intelligence (AI) or BUREGI, which includes real estate giants.

Please note that regardless of the name, all available instruments on the Plus500 platform are contracts for difference (CFDs).

Plus500 – trading platform

The trading platform was created from scratch by Plus500. Typically, such a solution allows you to create a "tailor-made product" for the needs of a given offer. And it must be admitted that in its current form it works quite efficiently.

Installation and login

plus 500 logins

Login window

The Plus500 platform is based on a web browser, so it does not require any additional software installation. Thanks to this, we can start trading on the demo in just a few seconds. And that was probably the idea. Logging in, both to the demo account and to the real one, is done using an e-mail address and a password defined by us, so it is simplified as much as possible - there is no need to save passwords consisting of rarely used characters or logins in the form of a sequence of long numbers. Logging in is very smooth and that's how it should be. There is also a disadvantage - you cannot be logged in twice at the same time to the same account - even if you use the same computer, browser or another platform. When you try to log in using the same data, the platform automatically disconnects you (security issues).

Creating a DEMO account. It must be admitted that opening a demo account probably couldn't be any faster. After entering your login and password, it immediately takes you to the account with virtual funds. If anyone feels lost, we can use the tutorial right from the start, which will guide us through the most important functionalities of the platform. Useful especially for beginners.

Plus 500 appearance and interface

The appearance of the Plus500 platform from years ago was quite... sad and poor. A lot of white, a little blue - the application hurt my eyes for a long time and "didn't please the eye". But it must be admitted that a lot has changed over the years and the current version is much more refined. Although the standard colors are still dominated by white and gray, we can switch to a dark look, which looks really neat and I definitely recommend using this version. There are a lot of useful options, but more on that in a moment.

Personalization. Configuring the platform based on your preferences is quite limited. Apart from choosing the mentioned colors, we can only change the size of the windows or enlarge the chart to cover the entire window. The only option to change the layout is to flip the chart to the top of the platform (by default it is at the bottom) - this option is available in the section Menu -> Settings -> Display Settings. Very fast and efficient operation is a plus.

The right mouse button is completely inactive, and the keyboard will be useful only for entering the course and the volume when placing orders. But this is quite typical for most platforms based on a web browser.

The menu on the left consists of three parts:

  1. drop-down "Menu" tab, where you will find account settings.
  2. 6 buttons for trading, position management, transaction history, cash and bookmark Insights.
  3. at the bottom there is a button to change the color scheme, DEMO/LIVE account mode and chat support.

At section Menu -> Settings we will find access to things like Tools (e.g. macro calendar, reports), various types of notification and security settings, as well as education and contact with support, but most often we will certainly use the second part of the menu, i.e. the buttons related to trading.

Functions and possibilities

Transactions. There's a very interesting thing going on here. Throughout the platform you will not find terms such as Short, Long, Stop Loss, Take Profit, Trailing Stop, Limit, or even terms such as "pending order". All terms were immediately translated in such a way that a person not familiar with investment nomenclature could quickly find their way around the application. For example, Stop Loss is "Close at a loss", and Take Profit is "Close with profit". The entire transaction process is based on a drop-down window on the right side of the platform. The window is activated when you click on Buy/Sell from the instrument list. There is no one-click option to close a position - confirmation is always required. Instead, we have a "rolling stop order", i.e. Trailing Stop with the note "pip points", which may be confusing for experienced traders, and quite enigmatic for beginners.

plus500 platform for orders

Ordering window. Illustrative prices

Under the defined SL/TP you can see the profit in currency and percentage - this is quite a useful function. For selected instruments, an additional parameter is available when defining SL - "Guaranteed closure". This is an option that, for an additional fee in the spread, allows us to close the position at a defined price, even if, for example, there is a gap after the publication of macroeconomic data. Until recently, there were several brokers who offered a similar service. Nowadays it is a rarity.

Pending orders. I have sought to find this option. The naming of a typical FX trader is to blame. To set a pending order, expand the window containing orders, select Buy / Sell, then enter the tab "Advanced" and tick "buy when the price is:". To set a pending order for sales, you have to go back to the beginning and repeat the action for "Sell". Not very comfortable and quite unintuitive.

The level of the pending order is visible when it is set and then disappears. It is only visible on the chart "Current selling rate", which shows us the price at which our open position would be closed. Unfortunately, we cannot edit the order by moving the lines on the chart. To do this, they must be canceled or edited in the trading window.

Library of instruments. The Broker Plus 500 offers a whole bunch of different instruments. These are CFDs based on assets such as currencies, indices, commodities (even niche such as Palladium), ETFs, options, shares of listed companies from around the world (even a lot from Poland) and even cryptocurrency, including Bitcoin. The choice is really large. There is also no shortage of thematic indexes, which we mentioned at the beginning of the text.

The list of instruments is available on the left side of the platform, where all of them are already grouped. Additionally, we can sort them by the most popular or by the largest percentage changes in the session. There is also a list of favorites that we can create ourselves, and at the very top of the platform we always have access to the search engine. It must be admitted that the solution is convenient (much more convenient than on MT4) and works in practice.

Chart support. We have as many as 19 types of charts to choose from. This is an incredible amount, especially since we are talking about the Web platform. We have at our disposal:

  • candle / empty candle / quantity of candle,
  • post / colored post / colored HLC posts,
  • line / color line / vertex line / baseline,
  • step,
  • Mountain,
  • data points,
  • histogram,
  • Heiken Ashi,
  • Kagi,
  • line break,
  • Renko,
  • Range Bars
  • Point & Figure.

Of course, in the case of the last 6 types, we can freely configure the parameters of their ranges.

plus500 platform chart

Chart on the Plus 500 platform. Illustrative prices

Standard time intervals are available, from minutes to weeks, plus a few less popular ones, such as ticks and M2 and H2, so there are 11 of them in total. We can change them from the top menu above the chart or from the horizontal list just below it.

chart templates

Chart layouts.

The charts themselves cannot be detached from the platform, but the window can be enlarged with an additional button. We can also use 12 prepared chart layouts or compose our own - a very nice option. And here's an interesting fact. The range of data visible on the chart is not limited by historical sources, and the platform itself does not scale this data to other intervals. For example, the Bitcoin chart on D1 covers the beginning of 2016, but on the weekly chart it goes back to 2013.

Indicators and tools. There are approximately 140 technical analysis indicators + in a few cases a few additional variances (moving averages counted as one). We cannot add external indicators, but for most users the list of AT tools available as standard should be sufficient. A plus is the ability to create a favorites list with the indicators we use most often. With this number of indicators available, this helps a lot.

There is also no shortage of objects to draw on charts. There are a lot of them - from arrows and shapes, through various lines and channels, to Fibonacci tools and fans. A total of over 40 tools to choose from.

Insights tab. This feature on the platform is intended to allow users to quickly filter markets in search of instruments that have stood out recently. The tab can be found in the section Menu -> +Insights. Full functionality is only available on the Live account, but we can also see what it is all about in the demo. In Insights you will find several filters such as: "the most profitable positions" or "most followed", thanks to which the platform will show us a list of instruments that meet these criteria among Plus500 users. In this way, we can quickly locate "fashionable" markets, instruments with the greatest volatility or those that have been most frequently traded in recent days.

Additional tools in Plus 500

Security. The platform provides the opportunity to increase security when logging in, e.g. by enabling two-step verification, receiving login notifications or using a Google, Facebook or Apple login for this purpose.

Notifications. The platform offers us the so-called price alerts that we can set for all instruments. But there is also a nice thing - bill notifications via e-mail and SMS. They may concern, for example, opening and closing positions, announcements or Margin Calls.

Account snapshot. All in all, it's hard to call it a tool, but it's still something. This is a very transparent presentation of the account balance, detailing the capital frozen on individual instruments and taking into account leverage. If someone trades on many different markets at the same time, this knowledge may be useful for something.

Account

Bill snapshot. Illustrative prices.

Speed ​​of operation – Plus 500 platform

In this respect, the platform is fantastic. It works very quickly, efficiently and does not hang even for a quarter of a second. This applies to virtually every function. In this respect, it is a model for competitors to follow.

Summation

The goal was clear and it was achieved. The Plus500 platform is a relatively simple and intuitive application that should meet the needs of beginners and intermediate traders. We won't find any here "water fountains", which could revolutionize our trading, however, we get a product that works incredibly fast, is available in a web browser and provides us with access to many markets in one place through one investment account. Some solutions are extremely convenient, such as opening a demo account or creating your own chart layouts. Others still require improvement (e.g. setting pending orders). There are also features that have been forgotten by the market, such as guaranteed SL or SMS notifications about shares on the account. In its final form, the Plus500 platform may be attractive.

Pros Cons
  • intuitive platform to use
  • 19 types of charts available
  • very smooth and fast action
  • e-mail and SMS notifications (for free)
  • convenient lists and searching for instruments
  • a lot of technical analysis tools
  • guaranteed closing option for SL
  • little configuration and personalization options
  • setting pending orders is not very convenient
  • no shortcuts

 

CHECK PLUS 500

CFDs are complex instruments and involve a high risk of a quick loss of cash due to leverage. 80% of retail investors' accounts record losses as a result of trading CFDs at this supplier. Think about whether you understand how CFDs work and whether you can afford a high risk of losing money.

What do you think?
I like it
25%
Interesting
25%
Heh ...
0%
Shock!
0%
I do not like
48%
Detriment
3%
About the Author
Forex Club
Forex Club is one of the largest and oldest Polish investment portals - forex and trading tools. It is an original project launched in 2008 and a recognizable brand focused on the currency market.