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TransFS Plus500 review: Your Beginner Inside Guide

In today’s rather volatile and flexible market, a lot of people might say keep your savings close and your investments closer. If you’ve ever been curious about venturing into trading, you’re not exactly alone. However, if you’re looking into a convenient and efficient way of getting into trading without a lot of hassle, that might take a bit of time. Or will it? If there’s anything you could use to make your trading life easier, it appears the TransFS Plus500 might actually be the tool for you. How does it fare as a trading application?

The Basics: What Is Plus500?

Numerous trading platforms claim to “have it all,” which may have put a lot of legitimate platforms under scrutiny, and those that are extremely effective can be challenging to find. After all, one cannot just rely on the platform in order to make successful trades, but rather a combination of technical and analytical skills. In this Plus500 review, it’s appropriate to first start at the beginning – just what is this product?

While Plus500 is a trading platform, it’s first important to point out that it doesn’t offer binary options – which means Plus500 might not be the platform you’re looking for if you want to start trading in binary options. Rather, Plus500 deals with CFDs or contracts for difference. To recap, CFDs are contracts between buyers and sellers, wherein the latter pays the former the difference between an asset’s current value and its value at contract time.

While it doesn’t have binary options offerings, Plus500 appears to be quite known in the CFD scene, as it currently has a portfolio offering of more than 2,000 instruments. This makes it one of the leading trading platforms in terms of CFD.

More interestingly, Plus500 Ltd – the company behind Plus500 software – has achieved quite a number of feats over the past few years. Much recently, they’ve introduced the world’s first Bitcoin CFD in 2013. After that, in 2014, Plus500 Ltd has reached a market value in the LSE’s AIM section of around $1-billion dollars!

Of course, anyone who may have heard of Plus500 for the first time is within reason to suspect its efficiency and eligibility. However, it’s important to note that because it’s listed on the AIM section of the London Stock Exchange (LSE), it’s regulated by a number of major financial authorities around the world:

  • CySEC, is a regulating body responsible for monitoring companies that offer financial services. They primarily make sure these financial companies follow laws, rules, and regulations in order to offer their services to business registered in both Cyprus and the European Union (EU). Plus500CY LTD can be looked up as license number 250/14.
  • FCA, which stands for Financial Conduct Authority, which serves as the major financial regulatory body of the United Kingdom. Plus500UK Ltd has a license number of FRN 509909.
  • Australian Securities and Investments Commission, an independent government institution in Australia which is also the country’s corporate regulator. Plus500AU Pty Ltd can be looked up under ACN 153-301-681, AFSL #417727.

Trading With Plus500: Offerings

Unlike many trading platforms, Plus500 actually offers a mobile application compatible for both iOS and Android. Mobile users who want to start trading on the go would need iOS 7.0 or later in order to install Plus500 on their Apple devices.

Plus500 appears to stand out from the competition because of its prioritization of a user-friendly experience. It retains quite a large range of features but at the same time makes it easy for someone to trade even from mobile devices.

Moreover, the iOS version of the app received four (4) out of five (5) stars in the Apple Store (of 1,700 reviews), with its Google Play Store version receiving 4.2 stars out of five (5). Interestingly, Plus500 is also one of the few trading platforms to be compatible specifically for Windows phones, and it has a rating of 3.8 stars out of five (5) based on over 100 reviews.

As a trading platform, Plus500 offers a wealth of possibilities for both neophytes and veterans in the trading scene. Those new to the platform can in fact open a demo account with 50,000 virtual funds they can experiment with in order to get used to the platform. These funds can’t be withdrawn given it’s only for the purposes of demonstrating the app’s features.

This adds a degree of ease of use given how the virtual funds can be used to experiment with the platform’s various features. This, coupled with the platform’s clean and easy navigation, can make Plus500 quite a comfortable platform. The sidebar is a convenient way to switch between CFDs, as well as a timeline that can show events in spans such as one (1) minute, five (5) minutes, 15 or 30 minutes, one (2) to four (4) hours, a (1) day, or even a (1) week.

The platform also has an all-inclusive screen with clean and clear labels, allowing you to look at your past trades and current positions. Interestingly, you can also access Plus500 in both a browser format or a downloadable platform you can access in your own personal computer.

Trading Instruments: What Can You Do With Plus500

As mentioned earlier, Plus500 primarily deals with CFD. However, what some platforms forget is that traders have different “skill” levels, and as such a platform that constantly aids traders on the get-go can make processes easier to digest and perform. In the case of Plus500, it possesses CFD trade instruments that help CFD trading easier for its users. As previously mentioned, Plus500 offers more than 2,000 instruments to trade in, including ETFs, commodities, indices, forex, and even shares.

A note of warning for those who want to trade for the first time, however – always remember that trading is no “one time, big time” deal. CFDs can get extremely complex quickly, and it can cost you a lot of money rapidly due to leverage. In fact, 74 to 89-percent of retail investor accounts lose money while doing CFD trades. Some examples of CFD platforms include:

  • Forex, or foreign exchange, where Plus500 allows you to deal with a wide range of forex currency pairs. In the Plus500 platform, this exists in four (4) different categories. These include things like Majors, including British Pound/US Dollar, and Euro/Japanese Yen; Majors II, like Australian Dollar/Japanese Yen, or British Pound/New Zealand Dollar. The third forex group is called Virtual, which include cryptocurrencies such as Bitcoin. The last group is Minors, which contains pairs of major and minor currencies, including US Dollar/Singaporean Dollar, or the US Dollar/Polish Zloty.
  • Commodities, wherein the Plus500 allows you to trade in commodities such as gold, oil, and grain products.
  • Indices, where the Plus500 can offer you trading options with indices from European countries, Hong Kong markets, and indices from the United States.
  • Shares, where Plus500 can let you trade CFDs in companies such as Amazon, Tesla Motors, Facebook, and other companies around the world.
  • ETFs, or exchange traded funds, wherein Plus500 also allows you to select from indices and commodities if ETFs are the line of trade you want to perform in.
  • Cryptocurrency, where Plus500 taps into its reputation as the first to offer Bitcoin-based CFD trading to let you trade CFDs in other cryptocurrencies as well. These include IOTA, Ripple, NEO, Litecoin, and Ethereum.

Risk Management With The Plus500

Given the forewarning that CFD can be very complex and very risky, the Plus500 also offers a host of risk management tools in order to help you mitigate damage when you see your trades may potentially harm you in the long run. These are tools you can use in order to help with your risk management:

  • Stop Limit, which allows you to protect profits gained from instruments with prices that are steadily increasing. This comes into play when a specified price limit is reached by a trade you’ve conducted.
  • Stop Loss, which is another good way Plus500 allows you to limit losses. In here, when trades start to reach a certain amount of losses, this command makes Plus500 close positions for a certain target price. This means if a particular instrument still starts going down beyond your Stop Loss, you won’t continue losing.
  • Guaranteed Stop, which allows you place an absolute limit on your potential losses. This comes into play if market prices suddenly gaps, which then makes Guaranteed Stop close your position at its specified price. This can help mitigate the risk of slipping. However, this only comes with specific instruments, which Plus500 will indicate once you choose them for your trade.

Another efficient risk management tool Plus500 offers is the option for you to use a demo account as well, as it helps you get used to the feel of the application and trading on the platform.

As specified, you get all the features of Plus500 in a demo account, except in the cases of a demo account, you’re trading virtual currency. However, charts presented in Plus500 are actually live, as though you’re trading with real money.

You can decide to move your status from a demo to a live account by making a minimum deposit of 100 pounds. You can open a demo account, which you can then use to transfer to a live account, via e-mail. Opening a demo account in Plus500 doesn’t have a time limit, and moving over to a live account will always be an option, especially if you decide Plus500 is the platform for you.

The Bottomline: Trading Made Easier With The TransFS Plus500

Trading can be quite the challenging practice, regardless if you’re a neophyte or a veteran in the field. After all, there’s no way to accurately predict what’s going to happen in markets, and as such your wits and analytical skills will be constantly tested to make the right decisions for your investments. Interestingly, if there’s anything the TransFS Plus500 does, it’s to make your life drastically easier as a trader. This is both convenient and efficient especially for those who are new in trading, or those who want to have a tool to finally make their financial life much easier.

Michael Harris

Michael Harris is both an entrepreneur and business-oriented writer contributing his financial and business insights to sites such as TransFS. His passion for writing, combined with his business acumen, allows him to be able to write articles that can not only help readers understand financial and business concepts, but also do so in a way that is both entertaining and enjoyable to read. He understands that finance can be a challenging subject to comprehend, and as such he makes sure he tailors his writing in order to be of use to his readers. He jogs during his free time.