The best way to judge a Forex broker is to open a mini account with them and invest a little. After continuing the account for a few months, making a withdrawal request and observe if the whole process is operated accordingly. I did this with PLUS 500, and found out that it is actually a reliable Forex broker. By doing this, I was making sure that I am not investing in a scam Forex broker and I am not losing a big amount of money.
Plus500 CY Ltd, a Cypriot based company with its main offices located in the city of Limassol. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is authorised to offer Contracts For Difference (CFD). Plus500CY Ltd currently offers a portfolio of over 2000 instruments. Company Information Plus500 is a company providing online trading services to retail customers. The company was founded in 2008 and provides trading in CFDs on a range of financial markets. Wikipedia CEO: Gal Haber Founded: 2008 Facebook Twitter
PLUS 500 SCAM?
Though most of the scam claims are actually made by incompetent traders who fail to make profit due to their lack of expertise, some dishonest brokers are out there too. Doing some research and experiencing the service of the broker firsthand is a good policy for testing out a forex broker.
Experienced traders usually spot the scam brokers at the first instance. But, it is the novice traders who are most vulnerable against these fraudulent individuals. Therefore, refrain yourself from doing anything big if you do not have the necessary expertise. Take your time, grow your experience and wait for your turn.
A Legitimate Broker – PLUS 500
Having said that, legitimate broker like PLUS 500 should not be treated like the scam ones. PLUS 500 is a reputed, well-recognized Forex broker, which is in the operation for an extensive period of time. The professional management of the company makes sure that it is not engaging in any illegal or dishonest activities. Being a regulated Forex broker, you can trust PLUS 500 with your investment; I can confirm it from my experience.