Plus500 Evaluation: our experience with this broker
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to policies), Forex and stocks. In this substantial review, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can respond to the latest market advancements at low rates. Is Plus500 Good For Scalping.
Is Plus500 Good For Scalping
- At Plus500 you can hypothesize on price advancements at low rates.
- You can sell a substantial series of CFD shares.
- It is possible to try Plus500 totally free with a demonstration.
- On Plus500 you can utilize the easy to use web trader.
- Plus500 uses its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Is Plus500 Good For Scalping.
- Plus500 does not provide advanced software application for professional traders.
- You can not find extensive analyses within the platform.
- Plus500 customer care is not readily available by phone.
- On Plus500 you can only trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration completely free of charge and without threat? Use the button listed below to open a demonstration account with this broker:
Is Plus500 Good For Scalping
We go over the following topics in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you transfer and withdraw money?
- Expenses: just how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading alternatives: in what securities you trade on Plus500?
- Support: what support do you receive when trading?
- Client service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker trustworthy? (reliability).
- Details: more info about Plus500 (info).
- Conclusion: the verdict of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you must initially go to the Plus500 website. Click here * to open the Plus500 website. To develop a complimentary demo account, you simply need to choose an e-mail address and a password. It is likewise possible to visit with your Facebook or Google account. After you have left this info, you can instantly begin trading. Is Plus500 Good For Scalping.
Plus500 accepts clients from a lot of countries. Nevertheless, there are likewise nationalities that are not confessed to Plus500. Traders from for example, America, Brazil, Belgium and Syria are unable to open an account at Plus500 at this moment. Opening a demo-account with Plus500 is possible within clicks. In the review, we therefore give Plus500 a favorable rating for opening an account. Is Plus500 Good For Scalping.
Deposit & withdraw money
When you have actually become acquainted with the Plus500 platform, you can switch to a genuine money account at any time. The minimum deposit at Plus500 is $100. You can transfer money into your account by utilizing among these techniques:
- Bank transfer.
Before your deposit can be processed, you must validate your identity. Plus500 should adhere to legislation and can only get validated customers. By confirming brand-new customers, Plus500 prevents customers from using the represent money laundering.
We’ve gone through the entire process and published the needed documents. Our account was authorized and launched by Plus500 within an hour. After verifying the identity of your account, you do not need to do it again. The length of this procedure depends upon your personal scenario and can be different for each client.
You can withdraw the money into your account at any time. You can do this by transferring the money 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. Is Plus500 Good For Scalping.
On Plus500 there are no additional expenses for transferring and withdrawing money. This is a huge benefit of the broker Plus500: many other brokers charge a little charge for withdrawing money. Traders can take advantage of as much as 5 totally free withdrawals a month, after which a cost will be incurred.
Is Plus500 Good For Scalping
Review of the costs of Plus500
When you start trading with Plus500, you certainly do not desire a big part of your money to be lost to high transaction expenses. In this part of the evaluation, we take a detailed take a look at the costs of trading with Plus500. Listed 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 uses two spread mechanisms for its instruments: Dynamic spread which is constantly adjusted according to the marketplace spread throughout the duration a position is open vs. a Spread which does not generally change in line with basic market changes while a position is open, however when the market is unstable and illiquid, might change to a brand-new level so that the underlying market conditions are much better shown. Plus500 aims to provide the tightest possible spreads at all times. Is Plus500 Good For Scalping.
Forex expenses on Plus500
On Plus500 you can trade in various currency sets. At the time of writing, you are paying 0.6 pips in transaction charges 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 actually extracted these information on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can also sell cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade against relatively advantageously fees in Bitcoin CFDs. At Plus500 you pay a spread of $36 at the time of writing while at eToro you pay more than $50 per agreement. Trading cryptocurrencies is for that reason reasonably advantageous at Plus500. (We have actually drawn out these information on the 2th of June 14:00.).
Share costs on Plus500
At Plus500 you can likewise trade in shares by utilizing CFDs. As an example: For the CFD share Tesla you presently pay a spread of $ 0.95, which relates to 0.12% of the overall worth. Trading CFD Tesla shares is therefore possible at a low cost. (Please keep in mind that this is a picture on April 20, 2020 at 13:00.).
Funding expenses at Plus500
With Plus500 you have the option 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. However, you do need to pay a premium for this.
With each security you will see the overnight funding buy and the overnight funding sell costs. Sometimes, you in fact get a premium for brief positions. We compared Plus500 with other celebrations for this review and the funding expenses were reasonably low. Still, it is very important to keep in mind that Plus500 is not very ideal for long-lasting trading because of the funding fees you need to pay every day. Is Plus500 Good For Scalping.
Other expenses on Plus500
We have extensively investigated the expenses for this review, and we have not found any frustrating surprise costs. You need to ensure that you log in to the platform at least when every 3 months. If you do not do this, expenses for lack of exercise will be charged. This is the case with a lot of brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? It is wise to withdraw the cash from your account.
You can examine all Fees here:
Plus500 is primarily compensated for its services through the “market spread”. For example, when trading EUR/USD, if the buy rate is 1.12078 then the sell rate would be 1.12072 respectively (which suggests a market spread of 0.6 pips, in this example). Unlike other company who also charge commissions on each trade, Plus500 does not charge dealing commissions. Is Plus500 Good For Scalping.
Nevertheless, the following additional costs may be applied:
Overnight Funding – The over night financing amount is either added to or subtracted from your account when holding a position after a certain time (the “Overnight Financing Time”).
The over night financing time and the everyday over night funding portion can be found in the “Particulars” link beside the instrument’s name on the primary screen of the platform.
Currency Conversion Cost – Plus500 will charge a Currency Conversion Cost for all trades on instruments denominated in a currency different to the currency of your account.
The Currency Conversion Cost will presently depend on 0.7% of the trade’s realised net profit and loss and reflected in real time into the unrealised net profit and loss of an open position.
Lack of exercise Cost – A fee of up to USD 10 each month will be imposed, must you not log in to your trading account for a period of a minimum of three months. This cost will be charged as soon as a month from that moment onwards, as long as no login is made to the account. The lack of exercise cost will be equal to the lesser of the remaining available balance in your account or USD 10 (or comparable depending upon your currency). This is to offset the expense incurred in making the service offered, even though it has actually not been used. Please note that the fee is only gathered from the Real Money account and just when there are enough offered funds in the account. In order to avoid this charge, just log into your trading account from time to time, as this is considered sufficient activity to prevent a cost from being charged.
Surefire Stop Order – if you choose this function, please note that as it ensures that your position (trade) closes at a specific requested rate (price), the trade undergoes a wider spread.
Conclusion Plus500 charges
The expenses Plus500 charges are reasonable and in proportion to the quantity you trade with. This makes it possible to trade with a small amount of money. In our article about the expenses on Plus500, we take a closer take a look at the different costs you pay when you trade with Plus500.
Is Plus500 Good For Scalping
Software & possibilities
When you start trading, we comprehend that you naturally likewise wish to use an excellent software package. With Plus500 trading is primarily done by means of the online WebTrader. A terrific benefit of the WebTrader is the ease of access: you can log in to the platform at any time and from any place 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 need to browse wish for purchase & offer buttons on Plus500. Is Plus500 Good For Scalping.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is essential to bear in mind that with Plus500 you always sell CFDs. With Plus500 you never ever directly trade in a share. The only thing that determines your outcome is the difference between the cost at which you open and close the position.
When you open a position, you have two choices. You can buy the CFD or you can go short on the CFD. When you buy the CFD you get a favorable outcome with a rising price and when you sell the CFD you get a positive result with a falling cost. Because you utilize leverage there is a high danger of losing cash quickly due to utilize.
The option to speculate on a decreasing rate is a significant benefit within the Plus500 platform. The choice to short sell increases your flexibility and makes it possible to react to different market circumstances.
Kind of orders
With Plus500 you can instantly open an order. When you push purchase or sell you will see the screen listed below:
In the order screen you can get in the quantity you want to trade with. You also have the option to instantly open or close the position after a certain rate has actually been reached. This makes it possible to secure you trades when you have to go out. Is Plus500 Good For Scalping.
It is also possible to place an order with Plus500. You do this by going into a price at which you automatically open the CFD position. By using orders, you can attain even better trading results.
With Plus500 you have the alternative to use an utilize. With a lever you can take a larger position with the exact same quantity of money. Both your potential profit and your possible loss increase when you apply take advantage of. With each security you can instantly see what the maximum leverage is that you can use.
The existence of a leverage is a benefit in the review of Plus500. You can constantly choose to invest with smaller amounts if you want to lower your danger.
On Plus500 you can likewise trade with the mobile application they offer. The mobile application is less substantial than the WebTrader. You can perform less substantial analyses with it. It is useful to also install the mobile application. With the app you can receive warnings when the rate of a security reaches a particular value.
The mobile application is very easy to use and it is good to adjust your orders when market conditions change substantially. The mobile application is for that reason a strength in our review of the Plus500 platform.
Is Plus500 Good For Scalping
Trading choices at Plus500
In this part of the evaluation we will discuss the various types of securities you can sell with Plus500.
With Plus500 you can sell CFDs on Forex. When you trade in Forex, you hypothesize on rate modifications in currency sets. You can for instance location a trade on the advancement of the euro versus the dollar.
On Plus500 you can likewise sell an extensive series of CFD shares. The shares are neatly arranged by nation, so you can quickly discover a share to trade.
It’s likewise possible to trade in commodities by using CFDs. The most popular commodity for trading is oil. You can often apply an optimum utilize of approximately 1:20 to investments in basic materials. When you sell gold you can apply an utilize of 1:20.
On Plus500 you can likewise sell CFDs on choices. Options frequently move strongly: a choice can sometimes rise or fall in worth by 10s of percent. With CFDs you can use a leverage of as much as 1:20 to choices, which even more increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also sell 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 well-known cryptocurrencies. Cryptocurrencies are extremely unstable and it can for that reason be interesting to actively hypothesize on their rate advancements. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to regulations”). Is Plus500 Good For Scalping.
Conclusion on the trading alternatives at Plus500
Plus500 has a wide variety of tradable CFD securities. Even fairly unknown regional stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an attractive broker for financiers from all nations. My experience with Plus50 has for that reason been very favorable.
Assistance & research
In this part of the review, we investigate how Plus500 supports traders.
At Plus500 you can perform technical analyses on the graphs. Within the software application you can use different illustration choices. You can draw horizontal levels to suggest price levels where the market frequently relocates the opposing direction.
You can likewise add technical indicators on the chart. The range of technical indicators at Plus500 is enormous. You can choose from more than 100 various choices. It is a good idea to utilize technical indications. By utilizing technical indicators, you can perform much better analyses.
The technical analysis options within the Plus500 software application are comprehensive. It is troublesome that you can not save numerous charts. This implies that you need to duplicate the evaluates regularly. Professional financiers would need to download other programs to perform more complex analyses.
Research and education
In this review we can be fast about the possibilities of research and education: at Plus500 these choices are completely missing out on. There are no courses or webinars readily available at Plus500. This is a disadvantage for people who join Plus500 to find out how to trade much better.
It is useful that you get a notice within the Plus500 software when fascinating developments occur. When the rate of, for instance, oil falls greatly, you will get an alert of this occasion. You can then choose on your own whether you wish to take a position on the marketplace development. Is Plus500 Good For Scalping.
Within the Plus500 software application 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 buyers or sellers. Other fundamental information is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has a detailed and fast customer care that is available in more than 30 languages. Your problems can be resolved rapidly in your language.
It is suggested to call client service by means of live chat. You can utilize the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved almost instantly.
It is also possible to email Plus500. Mails are typically addressed within a day. It is a pity that no telephone number is available. This makes it difficult to speak directly to someone. Due to the quick processing time, Plus500 still scores sufficiently in terms of customer care. Is Plus500 Good For Scalping.
Security & dependability
Before you deposit cash with a business, you naturally would like 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 stick to the guidelines. Plus500 is supervised by:
- Plus500UK Ltd licensed & controlled by the FCA (# 509909).
- Plus500CY Ltd licensed & managed by the CySEC (# 250/14).
- Plus500SG Pte Ltd, accredited by MAS (#CMS 100648-1) and IE Singapore (#PLUS/ CBL/2018).
- Plus500AU Pty Ltd (ACN 153301681), certified by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; licensed financial company in South Africa, FSP # 47546.
Security of your deposits
Depending on your nationality, you delight in extra protection if Plus500 declares bankruptcy. This is done through a so-called financier security fund. All client funds are kept in a segregated customer checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set a number of extra rules to make sure that your cash is as safe and secure as possible on Plus500. Listed below you can find an introduction of these measurements:
Plus500 will never speculate with customers’ money. All funds are stored in a different savings account, which suggests that this money is protected when unexpected things happen with Plus500. And finally, on Plus500 you are safeguarded against an unfavorable balance, due to the fact that he Unfavorable balance protection is a regulative requirement for all EU brokers. So when you trade with Plus500, you can never be left with a residual debt. Is Plus500 Good For Scalping.
Plus500 is 100% no rip-off. Plus500 firmly manages customer properties. The business is likewise monitored. Plus500 has actually been around considering that 2008 and is even noted on the London stock exchange. These are all great indicators that Plus500 is trustworthy and we have actually concerned that conclusion ourselves.
Is Plus500 Good For Scalping
About the business
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 carried out over 35 million deals with a value of over $1,000 billion in one year. The headquarters of the business can be discovered in Israel, however they have actually opened numerous extra offices in other nations. Do you wish to know more about the Plus500 business? In this post you will find everything you need to understand!
Conclusion evaluation Plus500
Plus500 is one of the very best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by using the easy to use software. On Plus500 you can trade at low rates. You also have the opportunity to react to changing market conditions by placing orders on both fluctuating rates. Is Plus500 Good For Scalping.
Do you wish to discover how Plus500 works? Right away open a complimentary demo-account by pushing the button below: