Plus500

Site Overview 

The trading platform itself is absolutely excellent, striking that perfect balance of power, performance and simple user friendliness. Along with ease of use, it scores points by providing various technical analysis tools and real-time price feeds, along with extremely helpful charting. Along with the standard browser based trading platform, there are also outstanding Plus500 mobile apps available for both iOS and Android devices alike. In terms of how it is all put together and presented, no complaints whatsoever.

Moving on to the available account types, Plus500 keeps things nice and simple with just two different types of trading accounts. There is in fact only one type of paid trading accounts available for all customers, which asks an extremely low initial deposit of $100. While some may see this as a disappointing lack of choice, we see it as the exact opposite. The reason being that one account type means that all traders at all levels are provided with the same features, facilities, tools and general support, as opposed to lower level traders been short-changed. There’s a welcome bonus available up to a maximum of $7000, in accordance with how much is deposited when opening the account.

So far so good, but where Plus500 takes an even bigger step forward is in its approach to demo accounts. Alongside the primary paid account, customers have the option of opening a free demo account – one of the few you will find available these days with no initial deposit required. Not only this, but there is even the offer of a $25.00 welcome bonus for opening a free demo account, which can be used for real money trading. Of course, terms and conditions apply with regard to winnings and withdrawals, but this still means the rare opportunity to try out what’s on offer, 100% free of charge and with no attached risk.

Along with all of the above, Plus500 goes over and above certain binary options trading platforms by offering customer support on a 24/7 basis. They also are right up there when it comes to value for money in terms of potential returns, accepted payment types for deposits and withdrawals, account security and available learning resources.

Unfortunately, things take an immediate and unfortunate dive when it comes to the available methods for contacting customer service. While the provision of 24/7 customer service by way of email and live chat is great, Plus500 does not provide its customers with any contact telephone numbers whatsoever. Which in turn means that it is fundamentally impossible to speak to the customer service team in person at any time, other than by way of live chat. As such, if you find yourself for some reason unable to access the Plus500 website, you have absolutely no way of getting in touch with them…which is a shame. They also do not currently offer localised support, which is likewise unfortunate.

Best Features

It’s impossible not to be impressed by the way in which Plus500 not only allows newcomers to try out a demo account without depositing any money, but the fact that a no-deposit bonus is also available at the same time. This, coupled with the fact that the platform itself is simply outstanding definitely makes Plus500 a worthy contender.

Conclusion

To be frank, the overall conclusion with Plus500 is one of real frustration. The reason being that in almost every respect, this is absolutely an outstanding binary options broker, with plenty to offer traders at all levels. Even if you have never tried binary trading before, the offer of a 100% free and unlimited demo account is truly outstanding. Unfortunately, the fact that they do not offer any kind of telephone support whatsoever is guaranteed to be a deal-breaker for some.