Just kidding, of course I cannot think of that many reasons. But there really are many reasons that speak for this broker and that is why this broker is just super awesome. I have been a forex trader for a long time now and it is inevitable, that I sort of “had to” watch all the brokers wax and wane. There are really only very few ones which you can fully rely on. One of them is Plus500. There are a few others, too, but many of them function as ECN brokers which means they do not come into question for beginners at all. In this respect, the choice you have is accordingly limited. And that is why most of the traders are even happier about the fact that there is Plus500, a broker which they can fully rely on.
A short impression of this broker
I do not want to get on your nerves with long stories and hard facts. All you need to know is that Plus500 is listed at the London Stock Exchange and is subject to strict regulations of the FCA. They did that voluntarily and therefore gave up a lot of profit. But the traders’ security is the most important thing and Plus500 has long since understood that.
After I have been getting long enough on your nerves, now, I want to give you an impression of what trading with this provider is like:
Without doubt, the mobile offer is a huge advantage that has no equal. No matter if iPhone, iPad or Android: you can trade with all different kinds of devices via super simple apps. For free, of course. Just download it from the app store and give it a go. Opening an account there is pretty easy, but for sure, it would make more sense to do that on your PC first so that later, all you have to do is logging in. The same applies to depositing money. Even though I am a big fan of tablets and smartphones, this is something that I still like most to be done on my PC, in the old-fashioned way. This does not take long anyways and then, you have an account with money on which you can access anytime when you are on the road.
And this really is the case. You can just quickly take out your smartphone or tablet at university, in a city park, in the subway, at the doctor or wherever you want and start trading. How often have you already noticed any news which would have encouraged you to trade when you were on the road? I personally often enough but then I was not even able to make the trade because the next PC was one hour away of my place. Things like this do not exist anymore and I can still remember very well the day when the Swiss Central Bank set the exchange rate to the Euro. I noticed that coincidentally in a cafe. I was standing in line as I wanted to order a cappuccino with a bit of caramel. Since it took a bit longer than expected, the TV caught my attention and I watched the “Breaking News” on N24. I was hooked immediately, took out my iPhone, started the Plus500 app and only just managed to make the trade with 100 Euros. I did not even care that it was my turn meanwhile because I just had to do this in time. Then, I ordered my cappuccino, without any stress and I even gave a tip of 7 Euros. I mean, I have just made a good bargain, you know.
I think it is cool to do a good deed sometimes. At least, I am not likely to forget the nice Lady’s smile in a hurry 😉
All in all, I made a return of 260 Euros. I was able to pay it out after the market calmed down again
and the price has accordingly stabilized. And there was no risk after I had closed the position.
Who can benefit from Plus500?
People like me who like to trade once in a while and love to do that anyplace and anytime. And people who do not have the budget in order to call themselves professional traders. As a matter of fact, Plus500 is a retail broker which works with a spread. That means that when opening the position you have to pay a small fee in return. The lower the spread, the more cost effective the trade for you. With professional brokers, there normally is no spread at all or hardly any. “Losing” 1 % of 10 Euros is not a big deal, but 1 % of 15,000 Euros is kind of a big deal.
I mean, this bears no proportion. Professionals rather prefer to pay a fixed fee of 4 Euros, for example. With regard to a position of 15,000 Euros this is almost nothing, with regard to a trade of 10 Euros, that is way too much.
And that is the reason why you should trade with Plus500 in case you are a beginner. And you should not “make yourself bigger” than you actually are. Because then, you would lose a lot of money.
In addition, people who like trading CFDs of all kinds and who not only trade with Forex can benefit from Plus500. That means when you also like trading indices such as the DAX, commodities such as silver or shares such as Google, then you are in best hands with Plus500. Sure, forex has its great advantages, but it can be really exhausting and boring to only trade currency pairs in the long run.