Interview with Plus500 manager David Zruia
Who is David in person?
Question: Hello David, first of all thank you for participating in this interview. Before we start this interview, could you tell us something about yourself? What do you like to do in your spare time for example?
Answer: Thank you for taking this interview. So, let’s start! When I’m not working I like to travel, play soccer, and spend time with my family and friends. It is very important for me to relax regularly since my life can be quite hectic at times.
Question: Have you ever traded shares yourself?
Answer: Yes, of course! This is part of the reason I decided to work for Plus500.
What exactly is Plus500
Question: What is your profession exactly? Can you tell me something about your work at Plus500?
Answer: I am the head of the Plus500 affiliate program which is part of the marketing department. Plus500 is one of the most leading online trading platforms in Europe. Because Plus500 is regulated by the British Financial Conduct Authority.
Target market of Plus500
Question: What is Plus500’s target audience?
Answer: Any particular investor that want to trade online, from beginning traders to experienced investors who need advanced tools. We try to create our platform in such a way that it benefits both groups. Plus500 focuses solely on the individual investor and doesn’t accept institutional investors.
Question: How does Plus500 distinguish itself from its competitors?
Answer: We offer a variety of platforms with which our customers can trade; from software for desktops to software for web browsers; in addition, we also offer software for the iPhone, Ipad and for Android Smartphones. All these techniques are owned by Plus500 and were developed by the R&D department. We have designed a number of software packages in order to be able to offer a trading platform with many advanced functions.
Because we focus only on the private sector we have a much better image of the wants and needs of individual investors. This allows us to adapt our software to the needs of individual traders.
Besides the possibilities and tools to trade we also offer a huge amount of tradeable instruments. Our customers can trade CFD’s on Forex (currency pairs), shares from countries across the world, indices, commodities, ETF’s and options.
Because we strictly comply by the rules set by the British Financial conduct Authority, the money of our customers is always safe. This is a vital and crucial point for us.
Oh, and of course we offer attractive bonuses. (More information about the Plus500 bonus>>)
Question: What are the most important competitors of Plus500 on the CFD market?
Answer: Possibly IG Markets and Saxo Bank, however we believe that our software and technology is better since it is more efficient and better suits private investors.
Points for improvement & Plus500’s future
Question: What do you see as the biggest disadvantage of trading at Plus500?
Answer: Plus500 was only launched in February 2009 which makes us a relatively new company. However, we are regulated by the FCA and we have established ourselves as a high-quality and safe CFD broker.
Question: Why Plus500 doesn’t have support by phone?
Answer: Usually we prefer customer support via email. In our experience this is more reliable. In many situations a representative on the phone doesn’t have the answer to a question right away. If we can answer this question via email this same representative can first discuss with his colleagues and then send an email with the exact right answer to the question. This leaves less room for mistakes and misleading answers.
Question: What is your vision for the future of Plus500?
Answer: Plus500’s goal is to become the largest CFD broker in the world. We are constantly trying to improve our trading platform and to expand the number of tradeable instruments. Besides we are also working to develop completely new features for our customers.
Question: What is your advice for people who have just started trading?
Answer: My advice to them is to start with a small capital and to increase their investments only when they feel more confident and have gained more experience over time. Our demo account is a fantastic place to start, since the possibilities and result are exactly the same and it is a perfect reflection of trading with real money. Our demo account is also unlimited, making it the perfect place to find out what Plus500 has to offer. You can try it completely for free, without any risk at all!
Question: What is the most common mistake among traders? And what should one always keep in mind?
Answer: Because CFD’s are levered products they have a naturally higher risk. It is highly recommended to experiment with a demo account and start with small investment before trading with larger amounts.
Question: What is your opinion about Forex scam?
Answer: Of course Forex scam is really bad because it hurts the reputation and image of Forex trading as a whole. I want to emphasize and encourage people to always check the reliability of the CFD broker – when the broker is not regulated by a financial authority it is recommended not to trade there.
*Risk warning: ‘76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.’