Plus500 stocks and shares

dexterwolf

My friend opened an account and got £20 free. He has said he made £60 in 4 days from it. Does anyone else know anything about this site ?. As he is going to register his bank details. Surely there are admin fees when trading the shares ? He has said there is not .

GooeyBlob

Plus500 is an Israeli company listed on the London AIM. According to their website they make money from the bid/ask spread. In other words, the selling price differs from the buying price. It's rather like going abroad on holiday; you buy your foreign currency at one rate and then sell it back at a worse rate (assuming sterling hasn't collapsed) when you return.

I'd almost be tempted to buy a few speculative shares in Plus500, but suspect the details of the UK/Israeli tax arrangements might make the situation more complicated than I would like when it came to receiving dividends.

There's more information here:

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/IL0011284465GBGBXAMSM.html