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Our note:
Plus500 offers pleasant and easy to use platforms and commissions only on spreads at no extra charge. One of the downsides is its customer service that is only available via email and uncompetitive spreads.
Plus500 has a nice, clear, friendly site, but the company has one black spot in our eyes: there is no hotline for those who want to register or chat for information.
Indeed, the company has decided to address its interlocutors only by email. This does not seem very engaging to us, but for the purposes of this article we have submitted to this condition. We therefore asked the same questions as the others by email to this broker specialized in CFDs
PLUS 500 UK Ltd is authorised and regulated by the FCA (Financial Conduct Authority) with the number FRN 509909. Registered office: Plus500UK Ltd, 78 Cornhill, London EC3V 3QQ.
Plus500 only offers CFD trading, it is not a forex broker. Your capital is at risk.
Plus500CY LTD is authorised and regulated by CYSEC (Cyprus Securities and Exchange Commission) under the number (License No. 250/14)
Here is in detail:
1-Here is the first answer we got following our contact email:
Updated by : Amanda, August 22, 11:24 a.m
Hello,
Thank you for contacting us.
1) Please note that Plus500’s policy is to communicate with customers by email only. Plus500 only responds to customer emails sent to the email address provided by the customer at the time of account opening.
Only emails sent from support@plus500.com are valid Plus500 communications.
2) You can open your account on our website http://www.plus500.fr/ or directly on our WebTrader
If you need further assistance, please do not hesitate to contact us
Yours sincerely,
Amanda
Customer Support
Plus500UK Ltd
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2-Here are our questions:
Last Updated on 22 August 13:14
Hello,
so here are my questions, please answer them.
What is the minimum deposit required to open an account?
Can we get a free demo?
Do you offer bonuses, if so, what are they?
Do you offer a tablet or smartphone application?
Are withdrawals free of charge?
What are the conditions for making a withdrawal?
How many assets do you offer?
Is customer service available 24 hours a day?
Thank you for your answers.
Before registering it is important to understand the risks involved in CFD trading.
2- Here are the answers to our questions which only reached us on the morning of the 24th of August..
Hello,
Thank you for your response.
1) Please note that to open an account you are not obliged to make a deposit. (This makes them stand out from other brokers)
2) The demo mode is free. The demo version and the real version work the same way – money is the only thing that differs. To find out more about the demo mode
3) You can get all the information about our bonuses below – http://www.plus500.fr/Promotions/Bonus.aspx
4) You can access your account from our website, directly from the WebTrader, as well as through our iPad / iPhone and Android applications.
5) Please note that all deposits on our platform and all withdrawals are commission-free. (This is also a benefit to their assets. It is unclear whether the absence of commission applies to the first withdrawal or to all withdrawals during a month).
6) In order to withdraw the available balance from your Account, you should provide us with a copy of your identification and a document confirming your permanent address. Please note that all withdrawal requests are processed by Plus500’s accounting officers within three business days before being sent. (The speed of payment will also depend on your bank).
7) You can see the list of our instruments here
8) You can always contact us at – support@plus500.com. (Yes, but when there is an emergency there is no guarantee of speed of execution …)
9) To familiarize yourself with our trading platform, as a good starting point, we recommend that on the main page of our website www.plus500.fr you click on “demo video” (on the right hand side of the screen, just below “Overview software”).
In addition, we advise you to read the explanations on most of the common topics, located under the different tabs on the help page of our site (such as “Help”, “Stocks”, “Forex” etc.) – entering each of them will provide you with additional explanations on the different options that are offered on our platform.
Therefore you might see this link
If you need further assistance, please do not hesitate to contact us
Yours sincerely,
Amanda
Customer Support
Plus500UK Ltd
45 Moorfields
London EC2Y 9AE
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In short: a few good points, but also a few problems that are essentially related to communication policy. It is a pity, because the advantages look interesting. The trader will make up his own mind and will try his luck with this broker if he thinks it is suitable. For our part, we prefer direct communication by telephone, if only to ask for an order closing if ever the platform encounters a technical problem, which has happened more than once at many brokers…turning a winning position into a loss. You can always take a look at our review on ETX Capital to compare the two services and make your choice.
Register on the Plus500 website
Trading Forex and CFDs online can carry a high risk of losing your capital. It is important to understand the risks of investing with these products.