Plus500, is one of the few regulated trading platforms not to offer MetaTrader as trading platform instead offering their own proprietary trading software the Plus500 Windows Trader. Today we are going to take a look at the Plus500 Windows Trader which is the mainin Contract for difference trading platform at Plus500. However, it should be noted that Plus500 also offer a web based and mobile platform alongside their Windows Trader application.
Once you have installed the platform which shouldn’t take you long as the platforms total build is only around 25mb. You will be presented with a login screen after logging in you will be presented with the screen above. The various instruments available to trade at Plus500 can be found be scrolling through the left hand menu or using the search bar. The search bar is particularly useful as it makes finding the instrument you want to trade a much easier task.
Adding technical indicators to charts is easy and is simply a task of clicking on the Indicator tab and setting up the technical indicators you desire. While adding indicators to a chart is simple reading them off the Plus500 Windows Trader is not quite as simply. This has to be one of my biggest gripes about both the Plus500 Windows and Web Trader. I find reading the technical indicators much more challenging than on competing platforms which use MetaTrader or other alternatives.
Another annoying thing about the Plus500 platform is that prices are only updated every second or so which can be quite a bit slower than other platforms. This also means that your liable to be re-quoted when you try and open a position in a new instrument, especially if that instrument is volatile. The fact that Plus500’s data isn’t the quickest in the business is part of the reason they ban scalping on their platform. This means people who want to open positions for a very short period of time will do be able to do so at Plus500 and should look elsewhere for their trading needs.
All the various account management stuff you may need to do, can be done through the Platform without much difficulty. However customer support isn’t particularly readily available to sort out your problems.
The main benefit of the Plus500 platform is that it allows you trade a unprecedented number of different Stocks trading on a number of global exchanges all from one place. However the platform is let down by its poor charting abilities and the fact that individuals cannot scalp which will put a lot of traders off. It saving grace is the large number of instruments available to trade and the fact it offers so less readily available ETF’s and Stocks.