Trading is a wonderful but complicated activity, so not everyone is brave enough to start trading or learn more about it.
Fortunately, trading platforms and bots aim to make the trader’s life easier, more enjoyable, and full of profits. Although they haven’t always existed, trading apps are now an essential tool for both professional and new traders. The only problem with those programs is that many of them are scams.
Tons of scammers have taken advantage of beginners who were looking forward to improving their trading skills. Therefore, they pay anything the scam website asks them to pay and lose all their money. Thanks to that, many people are scared of using trading apps.
Not all of them are scams, though. Some programs give you what they offer you in the first place, and if you are reading this Plus500 review, you may be wondering if it is a scam or a reliable and trustworthy trading app. Using an app that you don’t fully trust is not a wise move.
Most trading apps let you trade with crypto, fiat currencies, and even other digital assets. However, not many of them support CFD trades, and Plus500 does. That feature alone makes it a platform worth studying, so read this page if you want to know more about Plus500 and if it can help you improve your trades.
In this Plus500 review…
Plus500 is a trading software that helps you understand more about the trading world in general, and consequently, gives you more ways to make better trades. Apart from that, this app also has some tools to protect you from making bad investments and losing money.
Not all trading apps have investor protection features, so the ones that do have them are highly valuable.
Everyone makes mistakes while trading, but Plus500 helps you keep the damage to a minimum. You can use this software for Forex trading, CFD trading, tradeable symbols, crypto, social trading, stock trading, and many others.
The program’s power-based trading app is perfect for beginners who don’t understand many things about trading yet.
Speaking about new people in the trading world, they have many guides and tips available for them on the Plus500 website. They can watch those guides any time they need to, and you don’t even have to pay for them. There are also many videos to help people who don’t like reading that much.
Plus500 Pros & Cons
In case you are wondering, we can already tell you that Plus500 is not a scam trading app. You can use it for your daily trading sessions and see an improvement in the mid and long term, but you need to put an effort into making better trades.
However, even if it’s not a scam website, Plus500 has, like everything, pros and cons. People can have many different trading styles, so you need to analyze if the benefits this app offers you are enough to meet your trading goals and your current needs.
Here are the brand’s pros and cons:
Trading platforms need to have specific features to improve your trading skills, so paying for a service that doesn’t have them it’s not a good idea. Regardless of that, each trading bot is different because of the unique functions each one of them has to offer.
Plus500 doesn’t fall behind its competitors, so it offers a decent number of features that help you understand how the market works in a better way. The trading experience Plus500 offers you is comfortable and simple, so you don’t have to stress out about not getting what the app’s features are for.
The brand’s WebTrader allows you to have streamlined trading sessions from multiple devices. Thanks to that, you can trade from your personal computer, laptop, smartphone, and table with no problem.
This WebTrader gives you many tools to work with. Here are the most important ones:
The best way to improve how you trade is by studying what you did wrong in your past trades, but doing that’s difficult without help. Fortunately, the Charts Analytics feature from Plus500 helps you learn from your past trades and use monitor trades.
You can use up to 100 technical indicators of what you can and can’t do while trading. Apart from that, the app offers you tick charts, weekly charts, or the one that best fits your learning process.
Plus500 users also have the app’s guide available for them to understand what the charts are telling them. Reading all that information can be confusing for someone who is not used to trading terms and stats, so it’s best if they use every tool the app gives them to learn the basics of trading.
One of the problems that many trading apps have is that they are too complex for beginners to fully understand how to use them. However, trading bots made for new users are too simple for professional traders.
This trading bot aims to address that issue by offering you an interface with all the tools pros need to make successful trades without being too complex or technical for beginners. Users can go to the app’s settings and adjust them to make the app show them what they are ready to use.
You can start your trading sessions as soon as you create an account, which saves time that other companies require you to wait. Traders can also skip guide videos and other features if they don’t want to use them, so anyone who wants to go straight up to trading can do it with no problem.
As we mentioned before, most trading apps focus on a specific asset and help you trade with that asset only. You can, for example, use trading software that focuses on Bitcoin.
Plus500 has many features to help you with CFD trading, but it also allows you to get into Forex, commodities, ETFs, and cryptocurrencies. Although this app doesn’t have an automated trading feature, it offers you all the tools you need to make successful trades by yourself.
Don’t worry if you are scared of making bad investments and losing your money since, although everyone makes bad trades, Plus500 offers guaranteed stop-loss orders. Therefore, you can safely make all the investments you want knowing that the app can stop you if you are losing a lot of funds.
Mobile and Desktop Apps
Traders need to put a daily effort into trading if they want to improve their trading skills, and the only way to do that is by trading every day. The problem with that is that it may be difficult to daily trade if you can only do it from a laptop or a personal computer.
People who go on trips or go places they can’t take their PCs may struggle to find somewhere to trade. Therefore, some trading bots include mobile apps that allow people to trade at all times from their smartphones. Plus500 is one of those apps.
However, you don’t have to worry about the mobile app having fewer features than the desktop one since they work in the same way. Naturally, the interface is adapted to fit smartphones, but that doesn’t change the app’s features in any way.
This app is available on iOS and Android devices.
Plus500 Prices and Plans
- Commissions and fees: None
- Minimum Deposit: €100
- Trial: Free
Unlike many other trader platforms, Plus500 doesn’t charge you any commission or fee to trade with it. The only thing you have to do to start trading is create an account and make a minimum deposit of €100.
The revenue this app makes comes from successful customer trades, so the company only profits from your profits if it helps you make successful trades. However, the deposit is something you can’t skip, and that’s the same with most trading bots.
You can’t trade if you don’t have the funds to do it, which is the reason you need to trust the brand you are trading with.
As we mentioned before, other trading platforms and competitors ask you for a commission or fee to trade with them. Acorns, for example, charge you from $3 to $5 per month, and Zacks Trade charges $0.01 per share.
Plus500 Review Summary
People don’t need to worry about Plus500 being a scam or losing their money with it. This app is considered reliable trading software, so you can make all the deposits you want to make more valuable and risky trades.
However, take into account that Plus500 focuses on CFDs trading, so try to learn a thing or two about this digital asset before starting to use the app. Fortunately, it helps you with its guide videos, so understanding how the whole thing works doesn’t take that much time.
This app is for anyone interested in CFDs trading and who wants a trading bot that is easy to use and doesn’t cost anything. However, if you are looking for an automated trading bot, this is not the one for you.
If this Plus500 review helped you, please recommend DigitalSupermarket.