- Regulatory Authority: Financial Services Authority (UK), on the 17th October 2012 Plus500 was fined a total £200,000 by the FSA further details can be found here.
- Instruments: Selection of Stocks, Forex Pairs, Indices, Commodities, ETFs
- Leverage: Up 50 to 1
- Unique Features: Unlimited use demo account, a large selection of instruments and £20 free
- Minimum Deposit: £100
Plus500 offers both a web trader and downloadable desktop application for your trading needs. While these offerings are both pretty basic, there is still a selection of tools to analyse the technical data available on the platform. The platform is very easy to use and would be suitable for newbies and experienced traders alike. The platform is also available as both an android and Iphone application allowing you to trade on the go. While the lack of sophistication may not be to everyone’s tastes the platform is perfectly functional. It is a shame there isn’t support for Metatrader as this also denies you the opportunity to use Expert Advisors. It should also be noted that the desktop program is slightly buggy, though overall I quite like the platform.
Plus500 is devoid of special features if I’m totally honest. Though it is clear that Plus500 is more interested in providing a crisp easy to use interface for it’s clients rather than providing gimmicky features. I suppose it can be argued that the fact that Plus500 offers an unlimited demo account with 20,000 of play money is good for those who want to try their luck at trading CFD’s without taking a risk. While its not really a feature Plus500 also offers a £20 free no deposit bonus which is always nice, though the kind of trading you will be able to do with that kind of the amount will consist of only a couple of contracts.
Plus500 offers a large number of instruments that one can place trades on including commodities, forex, stocks, Indices and rather interestingly ETFs. This gives a nice range of instruments for those who wish to trade in variety of markets and allows lots of potential of hedging ones positions.
The Spreads on offer at Plus500 are pretty reasonable allowing a decent profit to be made on correct calls. Though the competitiveness of the spreads does vary from instrument to instrument with some instruments being less competitive than others. Shopping around you could probably find more favorable spreads on another platform, but the difference wouldn’t be that huge.
The one major criticism that seems to be launched against Plus500 is poor customer service. Before you can make your first withdrawal a certain number of anti money laundering measures need to be taken essentially they just need to verify that you are who you say you are. There seems to be quite a backlog of these requests so it can often take a while for your withdrawal to be completed successfully.
Plus500 is regulated by the FSA in the UK allowing it to accept customers from all members of the European Union. FSA regulation is generally considered to be the gold standard of European Regulation. The Plus500 FSA entry can be found here.
Overall Plus500 represents a good platform for CFD trading with a nice crisp simple interface. FSA regulation is another positive of Plus500 which makes feel safer having funds in Plus500 account. To find out more you can visit Plus500 or download their client to start trading.
- Regulatory Authority: Listed Company in Cyrpus
- Instruments: Over 50 Asset Classes, including Commodities, Indices, Currency Pairs & selected Stocks
- Unique Features: Simple Platform & Binary Options Demo Accounts available.
- Minimum Deposit: £100/$100/100 euros
Anyoption Binary Options platform is one of the simplest to get to grips with on the market. A simple chart and the option to determine whether the asset class is going to move up and down. The returns from a particular bet are also extremely easy to determine, the return from the option is presented to the user as a percentage. So if you had bought $100 of options you might be presented with a 30% return signalling that if your option entered the money how much return you would make. This makes trading binary options on anyoption a breeze.
anyoption is a bit light on the ground when it comes to special features. One outstanding feature which could be argued is special to anyoptions is the range of options available to trade. Compared with some of its competitors anyoption offers a wider range of instruments with some Binary Options providers sticking mainly with commodities. The other nice feature offered by anyoption is the ability to open a demo account, which is particularly useful when it comes to Binary Options as many users will not have had experience using Binary Options in the past.
Option Contract Returns
The returns that are on offer from the Binary Options contracts on anyoption are particularly impressive. With returns on offer of up to 70% and a 15% refund on trades which expire out of the money. To my eyes these kind of returns seem to good to be true and make me a little wary of the site. There is also the ability to lock in profits and roll contracts which are outside the money forward both coming with a premium to pay.
There have been complaints by some on the internet that customer services at anyoption aren’t particularly great. I have seen numerous complaints about withdrawals from the site being particularly slow. The other issue along these lines is that it only possible to make one withdrawal a month without being charged a quite significant admin fee. Again this may be another cause for concern for many.
This is the part of the deal that makes me extremely nervous and concerned about the legitmacy of anyoption.com. The site is registered to a company based in Cyprus called anyoption Payment Services Ltd., but there is no mention of any regulatory authority which governs anyoption’s activity. Another alarming thing is that they are not listed on Cysec’s list of liscenced members, which suggests to me the Cypriot address is actually a mailbox held for a company based outside of Cyprus and the EU. This leads me to believe that anyoption could potentially be a scam and therefore should be avoided at all costs.
The jury is out on the legitimacy of anyoption, I would personally avoid placing my funds with the company.