The choice of CFD trading platforms available for Australian traders can be confusing. To help you, we’ve compiled the following concise review of a popular option – Plus500.
What is Plus500?
Plus500 is one of many CFD trading accounts popular with Australian traders. We don’t need to elaborate on the industry jargon if you’re reading this.
You should read reviews about Plus500 trading and other trading platforms, as choosing the right one can be the difference between success and failure.
The Plus500 Group was founded in 2008 and has grown considerably since then. It is now a global business serving many countries. Now, onto the bits you want to know about – what are the features that make this a popular Forex broker for Australian traders?
The Features of Plus500 You Need to Know About
The first thing we will say is that Plus500 offers an easy-to-navigate interface. Ease of use is important to traders, so this is a plus. Here’s a short list of the features that attract traders to the platform:
- User-friendly layout for simple trading.
- No commission fees – that’s zero commission on all trades.
- Almost 3000 CFD trading options.
- A comprehensive suite of tools for minimising risk, such as stop-loss orders.
- Wide range of CFD coins on crypto markets.
Those are the positive attractions. Before we move on, we thought it best to mention a few Plus500 features that users need to know about and be aware of:
- Currency conversion fees of up to 0.7% apply on all trades.
- $10 USD monthly inactivity fee is applied if a trader is inactive for 3 months.
- Fees apply to Guaranteed stop-loss orders.
These are standard across most trading platforms, so don’t let them put you off. Just remember to factor them in when making a choice.
Who is Plus500 Best for?
Many people want to know which is the best trading platform for beginners. We don’t recommend any platform for those with zero experience, as the risks of trading CFDs are high.
However, Plus500 does offer some impressive educational and training materials, including an eBook, videos, and other resources packaged under the Plus500 Academy.
There are pros and cons for expert traders, too: 2800 CFD trades may look like a lot, yet other Forex trading platforms are offering a greater range. Experts will appreciate the impressive selection of trading tools that come as part of the package.