If you are curious about Plus500, you definitely need to read this Plus500 Trading Platform Review. As this CFD broker doesn’t offer MetaTrader 4, it has to be said that Plus500 Trader is not suitable for everyone. If you are into algo trading, EAs massive technical analysis and scalping, you better look for a more advanced trading platform like MetaTrader 4 or cTrader. You you are just looking for a reputable broker with a simple, yet powerful platform – Plus 500 Trading Platform review is a must read for you!
*76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
The broker Plus500 only provides its proprietary platform, without making available MetaTrader. This means that the broker is very confident in its platform, since it offers it as the only choice to its customers. This is justified by a lot of time and resources spent in order to bring this platform to the highest standard.
Plus500 Trading Platform has a non-cluttered interface and the number of buttons is kept to a minimum. From the main window of Plus500 Trading Platform, it is possible to see the prices of currency pairs, commodities and indices. You can do it without switching screens. This window also allows the traders to examine open positions and pending orders. You can also see the trading history.
Contributing to the simplicity is also the fact that the main window shows a lot of information, being divided into four parts. The most important one is the quotes section that gives information about price movements and allows the traders to enter orders. The contents of the quotes window can be changed with the help of the instrument list, that shows all available instrument that can be traded and it is also separated into categories.
The charts are also present in the main window and offer a graphical interpretation of the price movements. Here indicators can be applied in order to estimate future price movements. This degree of simplicity also comes with a price, because there are only 15 indicators and only 10 time frames, which is below average when compared to other platforms. Also the possibility to add custom indicators is also limited and implementation of the equivalent of the Expert Advisors of MetaTrader 4 is not possible, because no support is offered to algorithmic trading.
The last part of the main window is the account info, situated in the lower left part of the screen that shows information about the funds in the trading account, the equity and the profit or loss. It can also be used in order to quickly deposit money and to make withdrawals.
The trading platform is integrated with the trading room on the broker’s site. That is because they are both located in the same place so traders can focus on trading right away, without being necessary to install the platform or to adjust account settings. It is also very easy to switch between demo trading and live trading.
This platform caters to the requirements of traders, who will find that is very easy to jump straight in and conduct trades immediately. This simplicity also has a drawback however, because advanced traders will find that they can’t customize their indicators and implement their Trading Advisors on this platform in the same way.