[00:11] – Hello and welcome to ForexMinute.com review of PlusFN, a forex broker. As you can see I am on a webpage – the front page of the website. First thing to notice here of course is its using a well-known Meta Trader 4 platform that most of you should be comfortable with, and should have experience with as well. They indeed offer demo accounts and plenty of Value Added Features.
Currently – as I record this – they are offering up to a 30% of welcome bonus that could change from time to time for obvious reasons. So pay attention to that when you go ahead and sign up with them.
[01:00] – Explaining Education and Analysis: For example if you click on that, it gives you analysis from Christopher Clan, who is their analyst (a renowned one). There are trading signals (they are available); there are webinars and they are, of course, economic calendar. The performance of the actual broker itself will tell you about their automated tools (with a click of course you can go there).
You can see that the deposits are pretty straight forward – bank wire, MasterCard, Visa, and Diners Club. You can download the MT4 platform directly from their website. You can see that PlusFN is based in the UK. The regulations in UK are certainly much stricter than many other countries; so that indeed is a huge a bonus.
[01:58] – When you go to their banking tab, their withdrawal and deposit section, where you can deposit in Dollars, Pounds, and Euros. You click on the Products, and it will tell you what they offer; they do offer spread betting and they do offer CFDs. They are primarily a forex broker but you know you can, for example, go to commodities trading. There you can see gold, silver, platinum, Brent oil, soybean, wheat, and natural gas (pretty varied amount of trading instruments).
CFDs are a little bit different in the context which explains you that they are based upon a certain underline; it isn’t an actual futures contract you are taking (let’s say natural gas) but, you know, it is a contract for difference; you agree to pay or accept payment for the difference of the contract from which you bought it, or sold it till the closing point.
[03:00] – The “About Us” page tells you about their technology. There are different account types (you can see that in Silver, Gold, Platinum and Elite) and it’s pretty common to offer users three-four different types. This allows you to do certain things. For example: 39 FX Pairs on the Basic Account, Spot Metals, Commodities, Indices, CFDs on stocks as well. So of course as you can see there are CFDs and stock trading; maximum leverage is a little higher. The max leverages in the larger accounts are, more or less, to protect you so you know you can employ your account too quickly.
You do get more webinars and, in such as, you progress up to chain as you can see. There is contact information as well. You can see that there is always a message box of course; there are the local UK phone number, email accounts, etc. There is a wonderfully looking news tab on the side (as you can see it is flashing headlines right now and prices). Pretty straightforward in the section with pretty much everything, except the fact is that that the broker allows you to trade a lot of different markets and that of course is huge. Those of you who are not used to trading futures may not understand how expensive that game can be. The merger of the server contract for example is outrageous.
[04:43] – You can be talking about an investment of like $12,000 just for the merger of sum. This allows you to trade CFDs which allows you to tailor-size your position for, you know, appropriate size of your account. If you have a $2,000 account, of course you won’t be ready to merge the total amount of the merger on position. Because you close that on immediately; but with a $2,000 account, you can trade up in smaller silver positions or whatever the case may be.
You see that they do give you plenty of information on the benefits of using them; you know quality provider and such. Again Live Chat to answer your questions, the daily analysis is pretty good from this site. Of course you want to use daily analysis as well. But you certainly can go wrong at least see what their anchor can say. Though, if you click on here, it will tell you bit more this.
[05:50] – As you can see, you can go into that area and you can see that, you know for example, the news like Aussies selling signals. And there is some headline types stuff. We can check the $79 of Dollar Index (at this time the point of little significant support so you know should increase coal prices). So the beauty of that is you can take this and then perhaps you can record. Here is another article explaining GBP/CHF breakout to the upside and you can see how it continues to get higher.
A lot of information on the site and certainly being regulated in Britain, the expertise don’t hurt. The regulators are pretty strict about the regulations they allow. So that’d been the case, it – the PlusFN broker – is in fact a very good choice for spreads and is very comparable in the industry than pretty much everybody else. You can see there are lot of advantages to take of in the form of technical education, like cross market correlations.