Plus500 Evaluation: our experience with this broker
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument schedule subject to policies), Forex and stocks. In this comprehensive review, we share our experiences with this broker. In our test, Plus500 became an easy to use broker where you can respond to the latest market advancements at low rates. Better Plataforms Than Plus500.
Better Plataforms Than Plus500
- At Plus500 you can speculate on cost advancements at low rates.
- You can trade in an extensive variety of CFD shares.
- It is possible to try Plus500 free of charge with a demonstration.
- On Plus500 you can use the user-friendly web trader.
- Plus500 offers its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Better Plataforms Than Plus500.
- Plus500 does not provide advanced software for professional traders.
- You can not find substantial analyses within the platform.
- Plus500 client service is not available by phone.
- On Plus500 you can just trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration totally free of charge and without danger? Use the button below to open a demonstration account with this broker:
Better Plataforms Than Plus500
We discuss the following subjects in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw cash?
- Expenses: just how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading options: in what securities you trade on Plus500?
- Assistance: what support do you get when trading?
- Customer service: what is the quality of the customer service? (costumer-service).
- Dependability: Is this broker reputable? (reliability).
- Information: more info about Plus500 (details).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should first visit the Plus500 site. Click on this link * to open the Plus500 website. To produce a totally free demo account, you just have to select an email address and a password. It is also possible to visit with your Facebook or Google account. After you have actually left this details, you can right away begin trading. Better Plataforms Than Plus500.
Plus500 accepts customers from the majority of countries. However, there are likewise nationalities that are not admitted to Plus500. Traders from for instance, America, Brazil, Belgium and Syria are not able to open an account at Plus500 at this moment. Opening a demo-account with Plus500 is possible within clicks. In the evaluation, we therefore provide Plus500 a positive score for opening an account. Better Plataforms Than Plus500.
Deposit & withdraw cash
When you have ended up being knowledgeable about the Plus500 platform, you can change to a genuine money account at any time. The minimum deposit at Plus500 is $100. You can deposit cash into your account by using among these methods:
- Bank transfer.
Before your deposit can be processed, you need to verify your identity. Plus500 needs to comply with legislation and can only receive confirmed customers. By verifying new customers, Plus500 avoids costumers from using the account for cash laundering.
We have actually gone through the entire process and submitted the required files. Our account was authorized and launched by Plus500 within an hour. After confirming the identity of your account, you don’t need to do it once again. The length of this process depends upon your personal circumstance and can be different for each costumer.
You can withdraw the money into your account at any time. You can do this by transferring the cash to your bank account or PayPal account. The transfer is made quickly and the money will be in your account within a couple of days. Better Plataforms Than Plus500.
On Plus500 there are no additional expenses for depositing and withdrawing cash. This is a big benefit of the broker Plus500: numerous other brokers charge a small fee for withdrawing money. Traders can take advantage of approximately 5 free withdrawals a month, after which a cost will be incurred.
Better Plataforms Than Plus500
Review of the costs of Plus500
When you begin trading with Plus500, you clearly do not desire a big part of your money to be lost to high deal costs. In this part of the evaluation, we take a detailed take a look at the charges of trading with Plus500. Below we briefly examine which costs Plus500 hands down to its clients.
With Plus500 you pay a spread over every deal. The spread is the difference between the buy and sell price of a CFD. Plus500 offers two spread mechanisms for its instruments: Dynamic spread which is continuously changed according to the marketplace spread throughout the period a position is open vs. a Spread which does not generally change in line with general market fluctuations while a position is open, however when the market is unstable and illiquid, may alter to a brand-new level so that the underlying market conditions are better shown. Plus500 aims to offer the tightest possible spreads at all times. Better Plataforms Than Plus500.
Forex expenses on Plus500
On Plus500 you can sell various currency sets. At the time of writing, you are paying 0.6 pips in deal costs on the pair of EUR/ USD. We compared these expenses with those of other suppliers and concluded that these expenses are comparable to those of other brokers. (We have drawn out these information on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade against fairly advantageously charges in Bitcoin CFDs. At Plus500 you pay a spread of $36 at the time of composing while at eToro you pay more than $50 per agreement. Trading cryptocurrencies is for that reason fairly helpful at Plus500. (We have drawn out these data on the 2th of June 14:00.).
Share costs on Plus500
At Plus500 you can likewise sell shares by utilizing CFDs. As an example: For the CFD share Tesla you currently pay a spread of $ 0.95, which relates to 0.12% of the overall value. Trading CFD Tesla shares is therefore possible at a low cost. (Please note that this is a picture on April 20, 2020 at 13:00.).
Financing expenses at Plus500
With Plus500 you have the alternative to trade on margin. Since you can trade on margin, you do not need to put in the full amount of the trading position yourself. You do have to pay a premium for this.
With each security you will see the over night financing buy and the over night funding offer expenses. Sometimes, you in fact receive a premium for brief positions. We compared Plus500 with other parties for this evaluation and the funding costs were relatively low. Still, it is important to keep in mind that Plus500 is not very appropriate for long-lasting trading because of the funding costs you have to pay every day. Better Plataforms Than Plus500.
Other expenses on Plus500
We have actually extensively examined the expenses for this review, and we have actually not found any frustrating hidden expenses. You must make sure that you log in to the platform at least as soon as every 3 months. If you don’t do this, expenses for inactivity will be charged. This is the case with most brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? Then it is a good idea to withdraw the cash from your account.
You can check all Costs here:
Plus500 is generally made up for its services through the “market spread”. When trading EUR/USD, if the buy rate is 1.12078 then the sell rate would be 1.12072 respectively (which indicates a market spread of 0.6 pips, in this example). Unlike other company who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Better Plataforms Than Plus500.
The following extra fees might be applied:
Overnight Financing – The overnight funding quantity is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The overnight financing time and the everyday overnight funding portion can be found in the “Details” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Fee – Plus500 will charge a Currency Conversion Charge for all trades on instruments denominated in a currency different to the currency of your account.
The Currency Conversion Fee will currently depend on 0.7% of the trade’s understood web revenue and loss and shown in real time into the unrealised net revenue and loss of an open position.
Inactivity Cost – A charge of up to USD 10 monthly will be imposed, need to you not visit to your trading account for a period of a minimum of 3 months. This charge will be charged once a month from that moment onwards, as long as no login is made to the account. The inactivity cost will be equal to the lower of the staying readily available balance in your account or USD 10 (or comparable depending upon your currency). This is to balance out the cost incurred in making the service available, even though it has not been used. Please note that the cost is just gathered from the Real Money account and only when there are sufficient offered funds in the account. In order to avoid this fee, merely log into your trading account from time to time, as this is deemed enough activity to prevent a fee from being charged.
Surefire Stop Order – if you select this feature, please note that as it guarantees that your position (trade) closes at a specific requested rate (rate), the trade undergoes a wider spread.
Conclusion Plus500 fees
The costs Plus500 charges are reasonable and in proportion to the amount you trade with. This makes it possible to trade with a small amount of money. In our post about the costs on Plus500, we take a closer look at the different expenses you pay when you trade with Plus500.
Better Plataforms Than Plus500
Software & possibilities
When you begin trading, we understand that you obviously likewise want to use an excellent software package. With Plus500 trading is generally done by means of the online WebTrader. An excellent benefit of the WebTrader is the availability: you can visit to the platform at any time and from any area to open or close a position.
What stuck out in our evaluation was the user-friendliness of Plus500. The platform looks clear and thanks to the search function you can rapidly find the CFD in which you want to trade. New consumers will for that reason not have to browse wish for buy & offer buttons on Plus500. Better Plataforms Than Plus500.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is essential to keep in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never ever directly sell a share. The only thing that determines your result is the difference in between the cost at which you open and close the position.
When you open a position, you have two choices. You can purchase the CFD or you can go short on the CFD. When you buy the CFD you get a positive result with a rising cost and when you offer the CFD you get a positive result with a falling cost. Since you use utilize there is a high threat of losing money rapidly due to utilize.
The option to hypothesize on a decreasing rate is a significant advantage within the Plus500 platform. The option to short sell increases your flexibility and makes it possible to react to different market situations.
Kind of orders
With Plus500 you can right away open an order. When you press buy or offer you will see the screen below:
In the order screen you can enter the quantity you want to trade with. You also have the option to automatically open or close the position after a specific rate has been reached. This makes it possible to safeguard you trades when you need to go out. Better Plataforms Than Plus500.
It is also possible to put an order with Plus500. You do this by entering a price at which you instantly open the CFD position. By utilizing orders, you can accomplish even better trading results.
Take advantage of
With Plus500 you have the choice to apply a leverage. With a lever you can take a bigger position with the same quantity of money. Both your prospective revenue and your possible loss increase when you apply utilize. With each security you can immediately see what the maximum take advantage of is that you can use.
The existence of a leverage is an advantage in the review of Plus500. You can constantly decide to invest with smaller amounts if you wish to decrease your danger.
On Plus500 you can also trade with the mobile application they use. The mobile application is less comprehensive than the WebTrader. You can carry out less extensive analyses with it. It is beneficial to also set up the mobile application. With the app you can receive cautions when the price of a security reaches a certain value.
The mobile application is extremely user-friendly and it is great to change your orders when market conditions change considerably. The mobile application is for that reason a strong point in our review of the Plus500 platform.
Better Plataforms Than Plus500
Trading options at Plus500
In this part of the review we will talk about the various kinds of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you speculate on cost changes in currency pairs. You can for instance location a trade on the development of the euro against the dollar.
On Plus500 you can also trade in an extensive series of CFD shares. The shares are nicely arranged by country, so you can rapidly find a share to trade.
It’s also possible to sell products by utilizing CFDs. The most popular commodity for trading is oil. You can frequently apply a maximum leverage of approximately 1:20 to investments in raw materials. When you sell gold you can apply an utilize of 1:20.
On Plus500 you can likewise trade in CFDs on alternatives. Alternatives often move strongly: an alternative can in some cases rise or fall in value by 10s of percent. With CFDs you can use a leverage of approximately 1:20 to alternatives, which even more increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can likewise trade in CFDs on popular indexes or ETFs. You can for instance trade in the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most popular cryptocurrencies. Cryptocurrencies are very unstable and it can therefore be interesting to actively speculate on their cost advancements. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument accessibility subject to policies”). Better Plataforms Than Plus500.
Conclusion on the trading choices at Plus500
Plus500 has a vast array of tradable CFD securities. Even relatively unidentified local stocks can typically be discovered on the Plus500 platform. This makes Plus500 an attractive broker for investors from all countries. My experience with Plus50 has for that reason been very favorable.
Assistance & research
In this part of the evaluation, we investigate how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the charts. Within the software you can utilize different drawing choices. You can draw horizontal levels to indicate price levels where the marketplace frequently moves in the opposing direction.
You can likewise add technical indications on the chart. The range of technical indications at Plus500 is huge. You can select from more than 100 different choices. It is smart to use technical indicators. By utilizing technical indicators, you can execute much better analyses.
The technical analysis alternatives within the Plus500 software are extensive. It is troublesome that you can not conserve several graphs. This indicates that you have to repeat the evaluates routinely. Expert financiers would need to download other programs to perform more complex analyses.
Research study and education
In this review we can be quick about the possibilities of research study and education: at Plus500 these options are entirely missing. There are no courses or webinars readily available at Plus500. This is a downside for people who sign up with Plus500 to find out how to trade better.
It is useful that you get an alert within the Plus500 software when intriguing developments happen. When the price of, for example, oil falls dramatically, you will receive a notification of this occasion. You can then decide for yourself whether you wish to take a position on the market development. Better Plataforms Than Plus500.
Within the Plus500 software you can likewise see how other users trade in a security. By looking at the positions other traders take, you can see whether there are more purchasers or sellers. Other essential information is missing with Plus500 platform. Plus500 does not score well in the field of research study and education in our opinion.
Plus500 has a comprehensive and fast customer care that is offered in more than 30 languages. Your issues can be fixed quickly in your language.
It is recommended to get in touch with client service by means of live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved almost immediately.
It is likewise possible to email Plus500. Mails are typically answered within a day. It is a pity that no telephone number is readily available. This makes it difficult to speak directly to someone. Due to the quick processing time, Plus500 still ratings adequately in terms of customer support. Better Plataforms Than Plus500.
Security & reliability
Prior to you transfer cash with a business, you naturally wish to know that it is completely safe to do so. In this part of the review, we look at how trusted Plus500 is.
Supervisors make sure that brokers follow the guidelines. Plus500 is monitored by:
- Plus500UK Ltd licensed & regulated by the FCA (# 509909).
- Plus500CY Ltd authorized & managed by the CySEC (# 250/14).
- Plus500SG Pte Ltd, certified by MAS (#CMS 100648-1) and IE Singapore (#PLUS/ CBL/2018).
- Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; licensed monetary provider in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you enjoy extra security if Plus500 goes bankrupt. This is done through a so-called financier security fund. All client funds are held in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually likewise set a number of additional guidelines to ensure that your money is as safe and secure as possible on Plus500. Below you can find an overview of these measurements:
Plus500 will never speculate with consumers’ cash. All funds are saved in a separate savings account, which indicates that this cash is secure when unexpected things occur with Plus500. And finally, on Plus500 you are safeguarded versus a negative balance, due to the fact that he Unfavorable balance security is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never ever be left with a residual financial obligation. Better Plataforms Than Plus500.
Plus500 is 100% no rip-off. Plus500 safely manages consumer possessions. The business is also monitored. Plus500 has actually been around since 2008 and is even noted on the London stock exchange. These are all great indications that Plus500 is trustworthy and we have actually concerned that conclusion ourselves.
Better Plataforms Than Plus500
About the company
Plus500 was founded in 2008 and has grown highly ever since. Plus500 is active in more than 30 nations and served more than 200,000 active customers in 2019. Plus500 performed over 35 million transactions with a value of over $1,000 billion in one year. The head office of the business can be discovered in Israel, but they have actually opened numerous additional workplaces in other countries. Do you wish to know more about the Plus500 business? In this article you will find everything you need to understand!
Conclusion evaluation Plus500
Plus500 is one of the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the easy to use software application. On Plus500 you can trade at low rates. You also have the chance to respond to altering market conditions by putting orders on both rising and falling costs. Better Plataforms Than Plus500.
Do you wish to find how Plus500 works? Immediately open a totally free demo-account by pressing the button below: