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 emerged as an user-friendly broker where you can react to the most recent market advancements at low rates. Plus500 Alon Gonen.
Plus500 Alon Gonen
- 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 totally free with a demonstration.
- On Plus500 you can utilize the easy to use web trader.
- Plus500 offers its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Plus500 Alon Gonen.
- Plus500 does not offer advanced software application for expert traders.
- You can not find comprehensive analyses within the platform.
- Plus500 customer support is not offered by phone.
- On Plus500 you can just sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration completely free of charge and without risk? Use the button listed below to open a demonstration account with this broker:
Plus500 Alon Gonen
We talk about the following topics in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw cash?
- Costs: how much does trading cost on Plus500?
- Performances: what are the possibilities of the software?
- Trading alternatives: in what securities you trade on Plus500?
- Support: what assistance do you receive when trading?
- Customer service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker reliable? (reliability).
- Information: more information about Plus500 (details).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you must initially go to the Plus500 website. Click on this link * to open the Plus500 site. To develop a complimentary demonstration account, you just have to pick an e-mail address and a password. It is likewise possible to visit with your Facebook or Google account. After you have left this information, you can immediately start trading. Plus500 Alon Gonen.
Plus500 accepts clients from the majority of nations. There are likewise nationalities that are not confessed to Plus500. Traders from for instance, 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 for that reason give Plus500 a positive score for opening an account. Plus500 Alon Gonen.
Deposit & withdraw money
When you have become familiar with the Plus500 platform, you can switch to a real 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 must validate your identity. Plus500 must comply with legislation and can only get verified customers. By confirming new customers, Plus500 avoids costumers from utilizing the account for money laundering.
We’ve gone through the entire procedure and uploaded the needed documents. 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 on your individual scenario and can be different for each client.
You can withdraw the cash into your account at any time. You can do this by transferring the cash to your savings account or PayPal account. The transfer is made rapidly and the money will remain in your account within a few days. Plus500 Alon Gonen.
On Plus500 there are no extra expenses for depositing and withdrawing money. This is a huge benefit of the broker Plus500: lots of other brokers charge a little cost for withdrawing cash. Traders can benefit from approximately 5 free withdrawals a month, after which a charge will be incurred.
Plus500 Alon Gonen
Evaluation of the costs of Plus500
When you start trading with Plus500, you clearly do not want a big part of your cash to be lost to high deal expenses. In this part of the evaluation, we take an in-depth take a look at the charges of trading with Plus500. Below we briefly take a look at which costs Plus500 passes on to its consumers.
With Plus500 you pay a spread over every transaction. The spread is the difference between the buy and sell rate of a CFD. Plus500 uses two spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread throughout the duration a position is open vs. a Spread which does not generally alter in line with basic market changes while a position is open, however when the market is volatile and illiquid, may alter to a new level so that the underlying market conditions are better reflected. Plus500 intends to supply the tightest possible spreads at all times. Plus500 Alon Gonen.
Forex expenses on Plus500
On Plus500 you can sell different currency pairs. At the time of writing, you are paying 0.6 pips in deal fees on the pair of EUR/ USD. We compared these expenses with those of other service providers and concluded that these expenses are comparable to those of other brokers. (We have actually extracted these data on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can also sell cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade versus reasonably 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 contract. Trading cryptocurrencies is therefore reasonably beneficial at Plus500. (We have drawn out these data on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can likewise sell shares by using CFDs. As an example: For the CFD share Tesla you presently pay a spread of $ 0.95, which equates to 0.12% of the overall worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please note that this is a photo on April 20, 2020 at 13:00.).
Financing expenses at Plus500
With Plus500 you have the choice to trade on margin. Since you can trade on margin, you do not have to put in the total 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. In many cases, you in fact get a premium for brief positions. We compared Plus500 with other parties for this evaluation and the financing costs were relatively low. Still, it is important to keep in mind that Plus500 is not very ideal for long-term trading because of the funding charges you have to pay every day. Plus500 Alon Gonen.
Other costs on Plus500
We have actually thoroughly examined the costs for this evaluation, and we have actually not found any irritating hidden costs. Nevertheless, you should make sure that you visit to the platform a minimum of when 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? It is wise to withdraw the cash from your account.
You can inspect all Fees here:
Plus500 is mainly made up 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 means a market spread of 0.6 pips, in this example). Unlike other service providers who also charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Alon Gonen.
However, the following extra fees may be used:
Overnight Funding – The over night funding amount is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The over night financing time and the everyday overnight financing portion can be discovered 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 Cost for all trades on instruments denominated in a currency different to the currency of your account.
The Currency Conversion Charge will currently depend on 0.7% of the trade’s realised internet revenue and loss and reflected in real time into the unrealised net earnings and loss of an open position.
Lack of exercise Cost – A fee of up to USD 10 monthly will be levied, should you not log in to your trading account for a duration of at least three months. This cost will be charged once a month from that moment onwards, as long as no login is made to the account. The lack of exercise fee will be equal to the lesser of the remaining available balance in your account or USD 10 (or comparable depending on your currency). This is to balance out the expense sustained in making the service available, although it has actually not been used. However, please note that the cost is only collected from the Genuine Cash account and just when there suffice available funds in the account. In order to avoid this cost, simply log into your trading account from time to time, as this is considered enough activity to prevent a fee from being charged.
Guaranteed Stop Order – if you pick this function, please note that as it ensures that your position (trade) closes at a specific requested rate (cost), the trade is subject to 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 take a look at the numerous costs you pay when you trade with Plus500.
Plus500 Alon Gonen
Software application & possibilities
When you begin trading, we comprehend that you obviously also wish to use a good software package. With Plus500 trading is mainly done through the online WebTrader. An excellent benefit of the WebTrader is the ease of access: you can log in to the platform at any time and from any area to open or close a position.
What stood apart in our review was the user-friendliness of Plus500. The platform looks clear and thanks to the search function you can quickly find the CFD in which you wish to trade. New clients will therefore not have to browse wish for purchase & sell buttons on Plus500. Plus500 Alon Gonen.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is important to keep in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never directly sell a share. The only thing that identifies your outcome is the distinction between the price at which you open and close the position.
When you open a position, you have two alternatives. You can purchase the CFD or you can go short on the CFD. When you purchase the CFD you get a positive result with a rising price and when you sell the CFD you get a favorable outcome with a falling price. Since you utilize leverage there is a high threat of losing money rapidly due to leverage.
The option to speculate on a declining price is a significant benefit within the Plus500 platform. The alternative to short sell increases your versatility and makes it possible to respond to different market situations.
Kind of orders
With Plus500 you can immediately open an order. When you press buy or sell you will see the screen below:
In the order screen you can get in the quantity you wish to trade with. You also have the alternative to automatically open or close the position after a particular cost has been reached. This makes it possible to safeguard you trades when you need to go out. Plus500 Alon Gonen.
It is also possible to position an order with Plus500. You do this by entering a price at which you instantly open the CFD position. By using orders, you can achieve even better trading results.
With Plus500 you have the alternative to use a leverage. With a lever you can take a larger position with the very same quantity of money. Both your possible profit and your potential loss increase when you apply leverage. With each security you can instantly see what the optimum utilize is that you can use.
The presence of an utilize is a benefit in the evaluation of Plus500. You can constantly choose to invest with smaller amounts if you wish to lower your risk.
On Plus500 you can also trade with the mobile application they use. The mobile application is less substantial than the WebTrader. You can carry out less comprehensive analyses with it. It is helpful to also install the mobile application. With the app you can get warnings when the price of a security reaches a specific worth.
The mobile application is very user-friendly and it is good to change your orders when market conditions change considerably. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
Plus500 Alon Gonen
Trading choices at Plus500
In this part of the evaluation we will talk about the different types of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you trade in Forex, you hypothesize on price modifications in currency sets. You can for example location a trade on the advancement of the euro versus the dollar.
On Plus500 you can also sell an extensive range of CFD shares. The shares are neatly sorted by nation, so you can quickly discover a share to trade.
It’s also possible to sell products by using CFDs. The most popular product for trading is oil. You can typically use an optimum leverage of approximately 1:20 to financial investments in basic materials. When you sell gold you can apply an utilize of 1:20.
On Plus500 you can also trade in CFDs on alternatives. Choices frequently move strongly: a choice can often increase or fall in value by tens of percent. With CFDs you can apply an utilize of as much as 1:20 to choices, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on popular indexes or ETFs. You can for instance sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most popular cryptocurrencies. Cryptocurrencies are extremely volatile and it can therefore be interesting to actively hypothesize on their rate developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument accessibility subject to policies”). Plus500 Alon Gonen.
Conclusion on the trading choices at Plus500
Plus500 has a wide range of tradable CFD securities. Even reasonably unknown local stocks can typically be discovered on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all countries. My experience with Plus50 has actually therefore been extremely positive.
Assistance & research study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the charts. Within the software you can use various illustration options. You can draw horizontal levels to suggest price levels where the market typically relocates the opposing instructions.
You can also add technical indicators on the chart. The variety of technical indications at Plus500 is enormous. You can choose from more than 100 different choices. It is smart to utilize technical signs. By using technical indications, you can perform better analyses.
The technical analysis choices within the Plus500 software application are comprehensive. It is inconvenient that you can not save multiple charts. This suggests that you have to repeat the examines frequently. Expert financiers would have 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 and education: at Plus500 these options are totally missing out on. There are no courses or webinars offered at Plus500. This is a downside for individuals who sign up with Plus500 to learn how to trade much better.
It works that you get an alert within the Plus500 software when fascinating advancements occur. When the rate of, for instance, oil falls dramatically, you will receive an alert of this occasion. You can then decide for yourself whether you wish to take a position on the market development. Plus500 Alon Gonen.
Within the Plus500 software you can also see how other users sell a security. By looking at the positions other traders take, you can see whether there are more buyers or sellers. Other essential information is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has an extensive and quick client service that is offered in more than 30 languages. Your problems can be fixed rapidly in your language.
It is suggested to get in touch with customer support through live chat. You can utilize the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved nearly right away.
It is likewise possible to email Plus500. Mails are frequently responded to within a day. It is a pity that no phone number is offered. This makes it impossible to speak directly to somebody. Due to the fast processing time, Plus500 still ratings adequately in terms of customer service. Plus500 Alon Gonen.
Security & dependability
Before you deposit cash with a business, you naturally want to know that it is completely secure to do so. In this part of the review, we look at how reliable Plus500 is.
Supervisors make sure that brokers comply with the rules. 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; authorized financial provider in South Africa, FSP # 47546.
Security of your deposits
Depending on your nationality, you enjoy additional protection if Plus500 declares bankruptcy. This is done through a so-called investor defense fund. All client funds are held in a segregated customer savings account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set a number of extra guidelines to guarantee that your money is as safe as possible on Plus500. Below you can discover an introduction of these measurements:
Plus500 will never hypothesize with clients’ cash. All funds are kept in a different savings account, which implies that this money is safe when unexpected things occur with Plus500. And lastly, on Plus500 you are secured against a negative balance, due to the fact that he Unfavorable balance defense is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never ever be entrusted to a recurring financial obligation. Plus500 Alon Gonen.
Plus500 is 100% no rip-off. Plus500 securely handles consumer properties. The business is likewise supervised. Plus500 has actually been around because 2008 and is even noted on the London stock market. These are all great indicators that Plus500 is trusted and we have actually come to that conclusion ourselves.
Plus500 Alon Gonen
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 worth of over $1,000 billion in one year. The headquarters of the business can be discovered in Israel, but they have actually opened numerous additional offices in other countries. Do you need to know more about the Plus500 business? In this short article you will discover whatever you require to understand!
Conclusion evaluation Plus500
Plus500 is among the best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by using the easy to use software application. On Plus500 you can trade at low rates. You likewise have the chance to react to altering market conditions by positioning orders on both rising and falling prices. Plus500 Alon Gonen.
Do you want to find how Plus500 works? Then right away open a totally free demo-account by pushing the button below: