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.
- Regulation: tradefair is the financial spread betting arm of well known betting exchange and fixed odds bookmaker Betfair. However it appears tradefair is simply a white label platform supported by the London Capital Group who run a number of Spread betting services including ProSpreads and Capital Spreads.
- Instruments: Indices, Commodities, Forex, Bonds and Interest Rates.
- Features: Decent range of markets and reasonable Spreads.
- Minimum Deposit: None Stated, Deposit dependent on the Minimum Margin Requirements of the various instruments.
As a white label of London Capital Group, the platform offered at tradefair is very similar to the platform offered at Capital Spreads. This is nothing to moan about as the platform on offer at Capital Spreads is pretty decent and the offering at tradefair reflects this. The platform is easy to navigate, with it being easy to open and close positions in any of the instruments offered on the platform. They charting features may be pretty light but they are still functional and will allow a trader to undertake all the different types of technical analysis needed to successful trade the financial markets. The other area where the tradefair platform is pretty basic is when it comes to mobile trading, at the time of writing their was only an iphone mobile trading platform on offer. While the platform was perfectly functional, it is a shame that tradefair only support mobile trading on the iPhone excluding android and Blackberry powered smart phones.
There’s nothing much which makes the tradefair platform unique in comparison with the other Spread betting platforms offered by companies in the London Capital Group, however many new clients may feel happier dealing with a well known company like Betfair. Thankfully due to the fact that tradefair is powered by London Capital Group clients also have the opportunity to trade a wide array of instruments with very reasonable spreads.
The Spreads on offer at tradefair are very competitive with Spreads on major Indices such as the FTSE100 being as low as 1 point. While their are a few brokerages that outdo this, including ProSpreads another company part of the LondonCapital Group. However the Spreads on offer at tradefair are pretty competitive with a number of the serious industry players, meaning that tradefair offers pretty good value for money even if they don’t offer the best value for money out there.
I have both direct experience with LondonCapital Group and with Betfair. I have to say that my experiences with both companies have been very positive. I would imagine that any experiences people had with tradefair would be similarly pleasant. General opinion on the internet seems to concur with my experiences of the company. This gives me some peace of mind and would probably recommend people consider tradefair as an option when opening a financial spread betting account.
As a white label of London Capital Group, tradefair are regulated by FSA. The FSA is considered one of Europe’s tougher financial regulators and those who have accounts with London Capital Group will be pleased to hear that they have a completely clean regulatory record with not one penalty against them during the now 12 years that they have been regulated by the Financial Services Authority.
Overall, while tradefair won’t set the world alight it is a perfectly reasonable place to trade financial spread bets.
- Regulation: Regulated by the FSA in the United Kingdom.
- Instruments: Indices, Shares, Sector CFD’s, Currencies, Commodities, Bonds, Option CFD’s and Interest Rates.
- Features: Wide array of instruments to trade including some more exotic instruments including Sector CFD’s, Option CFD’s, Bonds and Interest Rates.
- Leverage: Up to 100:1, some instruments limited to lower amounts of Leverage.
- Minimum Deposit: Initial Minimum Deposit of at least £100, further deposits from a £25 minimum.
CityIndex operates primarily through an online based trading platform which allows you place trades on all of CityIndex’s different instruments online. The platform also supports charting techniques and allows you undertake different technical analysis. While the CityIndex platform is hardly ground breaking it does provide a good basic online platform for those who want to simply trade Contracts for Difference. However, there are no social trading or automated trading features available for use at CityIndex. CityIndex however supports a wide range of mobile platforms meaning that those who have a smartphone should be able to trade on the go with one of the provided platform. While these platforms aren’t the most advanced mobile trading platforms in the world they still provide you with decent access to a wide range of financial markets to trade through CFD’s.
The main thing that will attract people to trading CFD’s at CityIndex is the wide range of instruments that one can trade on the CityIndex platform. For example at CityIndex you have the ability to trade Option CFD’s, Sector CFD’s, Bonds and Interest Rates, products which are not available one many trading platforms. Personally I feel that both Sector CFD’s and Option CFD’s offer some quite interesting opportunities. The platform won’t be really suited to automatic traders as CityIndex don’t provide functionality for such trading, but it will be great for those who want to access a wide range of markets.
The Spreads on the CFD’s at CityIndex are very competitive, with a number of Major Indices having Spreads on offer as small as 1 point. The Spreads are equally as competitive across the board and would put a number of well known brokerages to shame. On Stock Contracts for Difference there are no spreads, allowing the trader to trade these markets without the cost of a spread. However, the trader has to pay a quite hefty minimum commission charge or 0.1% on trades were the commission from this would be greater than the minimum commission. This makes CityIndex a great place to trade Shares provided the trader is trading in sufficient size, smaller traders may want to stay away from trading stocks at CityIndex. The Spreads on the more exotic instruments are still pretty tight and do offer some potential for those who wish to trade the instrument.
Customer Service at CityIndex is pretty good and provide good live 24/5 support to their customers. CityIndex has a pretty good reputation regarding the level of customer service that it affords it’s clients and I would personally not have any worries regarding depositing money with the company due to the fact that I trust it’s staff looking after my account. All in all, when it comes to customer service I would say that CityIndex are a professional outfit who properly deal with customer complaints and problems when they arise.
CityIndex is regulated by the FSA the British Financial Regulator. The FSA is considered to be one of Europe’s premier financial regulators and is part of MiFID allowing CityIndex to accept clients from throughout the European Union onto their Contract for difference platform. CityIndex is the trading name of CityIndex Ltd. who have one regulatory breach to their name when they were fined £490,000 for the improper reporting of financial transactions to the FSA. Failing to report an estimated 55,000 transactions at all and further failing to report an estimated 1,970,000 accurately. However since the 2011 breach for improper reporting of financial transaction CityIndex has not received any further disciplinary action and I believe better systems have been put in place for the reporting of transactions.
Overall, CityIndex offers a good platform for those who are serious about trading Contracts for difference. The slight regulatory lapse in 2011 may give some a cause for concern.
eToro is one of the better known social trading platforms out there and today we are going to be taking a look at the product at the core of their social trading platform which is their Openbook offering.
The Openbook is the home of social trading at eToro and is where all of the companies social trading features can be accessed. On opening up the Openbook platform the trader is greeted with a screen which displays the traders eToro rates the best. You can further search through these traders and categorize them by risk and other variants, allowing you to eliminate some of the higher risk traders in order to find someone to follow who is suitable for your needs.
Each trader who allows followers has a profile page which is quite similar in way to Facebook. At the top of the page is the traders recent performance and various over stats that prospective followers maybe interested in. You can also see what connections the particular trader has with other people on the eToro network. Below this the individual’s live feed which acts a bit like a Facebook profile wall and allows people to post comments to their wall and updates whenever the trader opens a new position.
In addition to there being profiles for each trader who uses eToro’s social trading platform to either trade or gather followers, there is also the general live activity feed which features all the current social trading activity on the eToro platform and updates in real time. This updates with information about various traders opening and closing positions, as well as showing who has followed who into a trade.
Much like how each trader has it’s own profile each instrument has a page where various traders in the eToro social trading network can leave comments and opinions on which way the instrument is going to move. As well as looking at charts of the instruments recent performances, this has never been particularly helpful for me personally as I haven’t found many particularly insightful comments left.
The eToro Openbook social trading platform is very easy to use and should be simple enough to use for anyone who has had previous experiences with social networks. It is partly this reason why it has become some popular for those who wish to easily follow and copy successful traders. As with any type of trading there are significant risks and I have talked about the dangers of the eToro Copytading before.
Using the eToro Openbook platform is a breeze, the difficult part is choosing who to follow, as not a huge amount of information is provided regarded the previous performance of a particular trader. Though it is possible to do some deeper research and go back through the traders past trades and determine what kind of strategy they use. Though there does seem to be a number of highly successful traders operating on the eToro platform which means there are probably some decent opportunities making money from simply following the activities of others.
- Regulation: Finexo is one of the trading names of Safecap Investments Ltd. who hold a full Cysec licence which allows Finexo to accept clients from throughout the European Union.
- Instruments: Forex, Stocks, Commodities, Indices and Bonds.
- Features: A range of trading platforms and a impressive range of instruments, as well as demo accounts.
- Leverage: Up to 200:1 on Forex, Up to 100:1 on Commodities & Bonds, Up to 20:1 on Stocks.
- Minimum Deposit: $100
As Finexo is a brand in the Safecap Investments stable, the offering is pretty similar to that offered by it’s sister sites ECMarkets, Markets.com & ForexYard. At the core of the Finexo offering is the well known MetaTrader 4 platform which is still a favorite among many traders even with the advent and rise of MetaTrader 5. The MetaTrader 4 platform offered by Finexo functions just as one would expect and allows traders to use Expert Advisors without any trouble the only problem being that Stop Losses must be set a 80pips away from the current price when using an Expert Advisor. Their is of course a standard web trading platform which works perfectly well even if it’s not the best solution in the world and allows one to trade when they are not on a computer equipped with Finexo’s MetaTrader software. Their is also the option to use the Mobile Version of the MetaTrader 4 platform which I have to say has pretty decent functionality for a mobile trading platform and allows you to trade on the move quite easily. In addition to these platforms clients can opt to use Finexo’s AutoTrader which I believe is powered by AutoChartist a well known social trading platform but not quite as comprehensive as other social trading platforms out there.
Their is nothing particularly unique about Finexo in comparison to it’s sister sites. However, the Safecap Investments offerings have a number of benefits. For one Safecap Investments offer a wide array of instruments for trade including a number of bonds which is not something that is availiable everywhere. They also offer a number of different platforms to trade through, while again hardly being unique its still something that may be valuable to the trader.
Again being a member of the Safecap Investments group Finexo spreads do not differ from those of the other companies in the group. While Finexo’s spreads aren’t the most competitive in the industry they are still tighter than the spreads on offer at number of well known European Regulated brokerages. The spreads on offer on the Stocks and Commodities vary greatly depending on the instrument with some of these spreads being very competitive while other spreads not being being particularly great. It should also be pointed out that Finexo only offers fixed Spreads on Forex and a number of Commodities, so spreads are liable to change during periods of high volatility.
Customer service at Safecap Investments companies is generally understood to be pretty decent. Their are a number of different ways that one can get into contact with the customer service staff at Finexo firstly they provide several different telephone lines for major European Countries to phone into, as well as providing Live Chat 24/5 and various email addresses. Every time I have dealt with customer services at Safecap Investments I haven’t had any major problems and have had my inquiries dealt with properly, therefore I don’t have anything negative to say about the customer service at Finexo.
Finexo is the trading name of Safecap Investments Ltd. who hold a full Cysec licence. As Cyprus is a member state of the European Union this allows Finexo to operate and accept clients from all 27 EU member states. While Cysec regulation isn’t considered the toughest regulatory regime in the world, Cysec regulated companies are meant to operate in full accordance with the MiFID directives which provides a good level of basic protection. As far as I know Safecap Investments has not received any fines or penalties from Cysec in regards to breaches of regulation.
Overall, Finexo would be make for a decent brokerage to pick depending on what instrument you wish to trade.
- Regulation: ProSpreads, is part of the London Capital Group who operate Capital Spreads but is incorporated and regulated in Gibraltar by the Gibraltar Gaming Commission, as well as Gibraltar’s Financial Services Commission.
- Instruments: Indices, Commodities, Currency Futures and Forex.
- Features: Tight Spreads and Direct Market Access to order flows.
- Minimum Deposit: Initial Deposit £500, top up minimum of £100.
ProSpreads offer their own unique platform which allows their customers Direct Market Access, so the trader can see the current underlying price as well as seeing the order flow. While the platform isn’t the prettiest thing around, it still allows the trader to undertake full charting and other forms of analysis. The real bonus to the ProSpread platform is the access to the Direct Market which allows you to see the bids and offers, this gives a trader another tool to trade with which is not available at the majority of Spread betting firms. Looking at order flow can be very beneficial and is something that is often considered vital to trading success. As far as I can tell their is no mobile trading support, though I presume that ProSpreads probably allows their clients to open positions over the phone. While the ProSpreads platform may not be the most accessible trading platform it is clearly aimed at the professional or serious Spread bettor. For those interested in the ProSpreads platform I recommend that they check out the intro videos at the ProSpreads website.
The real special feature at ProSpreads has already been talked about the access to real market order flows and bid and offer prices. This information can really help inform your trading and is highly recommended.
The Spreads at ProSpreads are very competitive for example their Spread on the FTSE is only half a point. The Spreads on the majority of instruments offered on the platform are very competitive and are hard to beat. It should be mentioned that ProSpreads do not offer a huge array of instruments meaning that you can’t trade individual stocks on the platform, however their are a wide range of Forex, Futures, Commodities and Indices availiable to trade. If your only interested in trading these instruments ProSpreads may be a very good choice for you.
I have no direct experience with the customer service at ProSpreads, but I do have some experience with the customer service provided by the London Capital Group. All my experience with London Capital Group has been positive and I imagine that ProSpreads offer the same high quality of service as the other companies within the group. It appears the ProSpreads is relatively small company but offer a high quality of service to their limited customer base.
One downside to ProSpreads is that they are not regulated by a financial services authority but are rather regulated by the Gibraltar Gaming Commission. While Gaming regulation does ensure some client protection it is not quite as all encompassing as financial regulation, which may give some customers a bit of a concern. However, it should be pointed out that London Capital Group is itself regulated by the FSA and has a fine regulatory record, this fact may alleviate some peoples doubt about depositing with ProSpreads.
Overall, the Direct Market Access features at ProSpreads are very impressive and should be of interest to any serious Spread bettor. The only downsides to ProSpreads is the lack of financial regulation and the limited instruments available for trading.
- Regulation: ECMarkets is one of the trading names of Safecap Investments Ltd. Who hold a Cysec licence and operate a number of other websites, including TopOption, Markets.com, Finexo and ForexYard.
- Instruments: Forex, Stocks, Commodities, Indices and Bonds.
- Features: Wide range of Instruments and Platforms.
- Leverage: Up to 200:1 on Forex, Up to 100:1 on Commodities & Bonds, Up to 20:1 on Stocks.
- Minimum Deposit: $100
Being a Safecap Investments brand ECMarkets offers a similar range of platforms to the other brands in the Safecap stable. At the core of the ECMarkets offering is the well known and renowned MetaTrader 4, many will already be familiar with MetaTrader. The MetaTrader platform from ECMarkets functions as you would expect allowing you to use Expert Advisors and undertake all the technical analysis you would expect to be able to make. However Expert Advisor Stop Losses must be set at least 80pips away from the opening price which would mean quite a significant loss. ECMarkets customers also have the option to use the Srix Webtrader which is a well known Java based webtrading application and while not being as advanced as MetaTrader allows you to trade the markets successfully from any computer which doesn’t have MetaTrader installed. There is also the ECMarkets mobile trader which supports Mobile trading from most smartphones and while the mobile trader doesn’t offer a huge degree of different options it is still powerful enough to open and close positions while on the move. There is additional the option to use ECMarkets Mobile trader which I believe is a version of the popular social trading software Mirror Trader, this allows a trader to copy other traders trading signals thus automating their own trading.
What is unique to the Safecap Investments platforms of which ECMarkets is among, is the wide range of different instruments that one can trade. These include a decent range of Stocks, Commodities and of course Forex, but more interestingly those who trade at ECMarkets can trade a range of different Bonds. Another decent feature of ECMarkets is that they offer a decent range of trading platforms to trade the markets.
The Spreads on offer aren’t the greatest but they are also not the worse. Major Forex pairings all have 3 pip spreads which is considerably larger than offered at some of the more competitive brokerages, however these spreads are still tighter than those on offer at websites such as eToro. While Spreads on Forex are fixed Spreads on other trading instruments tend to be floating and when at their lowest are quite competitive but due to the nature of floating spreads can widen during periods of high market volatility. But some of the Spreads on Stocks are not too bad and make ECMarkets a good option for those wishing to trade particular European Stocks.
Customer Service at ECMarkets has a pretty decent reputation with staff members working diligently to resolve customers problems. ECMarkets also provides a number of different toll free numbers for those who want to get into contact with them. All the different customer service interactions I have had with Safecap Investment companies have been pleasant enough and I imagine it to be the same at ECMarkets. There is also the option to communicate with ECMarkets through a 24/5 Live Chat feature, with you being put through to a customer service agent within a couple of minutes. Overall, customer service seems pretty reasonable and doesn’t ring any alarm bells.
As I have mentioned before hand ECMarkets is one of the trading names of Safecap Investments Ltd. which hold a full Cysec licence allowing them to accept clients from throughout the whole European Union. To the best of my knowledge ECMarkets has never gotten into trouble with the Cypriot regulatory authorities and has a totally clean regulatory record. While Cysec isn’t considered Europe’s toughest regulatory body you will still receive the minimum protections as set out in MiFID, which is something which can help you sleep better at night.
Overall, ECMarkets is pretty decent but I wouldn’t place it among the elite level group of Contract for difference providers. However, ECMarkets may be a good place to trade depending on the instrument you intend to trade.
- Platform: Powered by the SpotOption, the industry’s largest platform provider.
- Regulation: TopOption is a trading name of Safecap Investments Ltd. the operator of Markets.com, Finexo, ECMarkets and ForexYard who have held a Cysec licence for a number of years. TopOption’s platform provider SpotOption also holds a Cysec licence which they acquired in 2011.
- Unique Features: TopOption offers 1 to 1 coaching and was the first Binary Options platform to operate with their own Cysec licence and not under the SpotOption label.
- Instruments: Over 200 different instruments including Stocks, Commodities, Indices and Forex.
- Minimum Deposit: $100 and minimum Option size $100
As TopOption is powered by the SpotOption platform things are pretty much as you would expect. If you have used a Binary Options platform powered by SpotOption before you will instantly recognize the layout and you should be able to start trading in no time. Those who have no experience with Binary Options trading should be able to learn how to use and trade Binary Options in no time. Due to the fact that TopOption is powered by the SpotOption platform there is nothing particularly unique about the TopOption platform as their are a number of other platforms which offer similar features etc. This being said the design of the TopOption platform is pretty nice and is easy on the eyes which is always a plus. However as far as I can tell their is no mobile trading platform on offer at TopOptio which is a little disappointing.
Being a SpotOption powered platform there is nothing particularly unique when it comes to the trading platform. However, TopOption offers one to one tuition regarding the trading of Binary Options. I can’t answer how good this one to one tuition really is, but it is still may be a nice feature for those who have no clue about trading or Binary Options. More interestingly TopOption was the first Binary Options platform to be fully MiFID regulated in its own rights, previously all platforms relied on the regulation of SpotOption who powers the software of the platform. However recently other Binary Options providers have gained full regulation most notably Banc De Binary.
I can’t find many neutral reviews of TopOption yet, so its hard to judge the quality of the customer service. But generally Safecap Investments Ltd. gets pretty decent coverage regarding their customer service. I had a brief live chat with the operators at TopOption and they seemed helpful and nice enough. TopOption also provides a number of different ways to contact the customer support at the company. The location of where TopOption is based is also very transparent, so my first impressions seem pretty positive.
TopOption is trading name of Safecap Investments Ltd. who hold a full Cysec licence. As Cysec is part of MiFID this allows TopOption to accept clients from throughout the Eurozone. It also provides investors with up to 20,000 Euros compensation should Safecap Investments Ltd. go under. This provides you with a decent amount of protection should Safecap Investments fail. Currently Safecap Investments Ltd. has a completely clean regulatory record with Cysec.
Overall, while I don’t rate Binary Options as a product preferring CFD’s or Financial Spread bets, I would have to say that TopOption is probably one of the better Options for those who want to trade Binary Options.