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 evaluation, we share our experiences with this broker. In our test, Plus500 emerged as an user-friendly broker where you can respond to the most recent market developments at low rates. Plus500 Chart.
- At Plus500 you can speculate on cost developments at low rates.
- You can sell an extensive variety of CFD shares.
- It is possible to try Plus500 free of charge with a demo.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 uses its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Plus500 Chart.
- Plus500 does not provide sophisticated software application for expert traders.
- You can not discover comprehensive analyses within the platform.
- Plus500 customer service is not offered by phone.
- On Plus500 you can only sell CFDs.
Would you like to try the possibilities at Plus500 with a demonstration completely free of charge and without risk? Utilize the button listed below to open a demonstration account with this broker:
We go over the following subjects in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you deposit and withdraw money?
- 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 receive when trading?
- Costumer service: what is the quality of the costumer service? (costumer-service).
- Dependability: Is this broker reliable? (dependability).
- Information: more info about Plus500 (info).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should initially check out the Plus500 website. Click here * to open the Plus500 website. To develop a free demonstration account, you just need to select an email address and a password. It is likewise possible to log in with your Facebook or Google account. After you have left this info, you can right away start trading. Plus500 Chart.
Plus500 accepts clients from most nations. However, there are also 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 evaluation, we therefore offer Plus500 a positive ranking for opening an account. Plus500 Chart.
Deposit & withdraw cash
When you have become knowledgeable about the Plus500 platform, you can change to a real cash account at any time. The minimum deposit at Plus500 is $100. You can transfer money into your account by utilizing among these methods:
- Bank transfer.
Before your deposit can be processed, you should confirm your identity. Plus500 must abide by legislation and can just get confirmed clients. By verifying brand-new costumers, Plus500 prevents customers from utilizing the account for money laundering.
We have actually gone through the entire procedure and submitted the required files. Our account was authorized and launched by Plus500 within an hour. After verifying the identity of your account, you don’t need to do it again. The length of this procedure depends upon your personal situation and can be various for each costumer.
You can withdraw the cash into your account at any time. You can do this by moving the money to your savings account or PayPal account. The transfer is made rapidly and the money will be in your account within a few days. Plus500 Chart.
On Plus500 there are no additional costs for depositing and withdrawing money. This is a huge benefit of the broker Plus500: numerous other brokers charge a little fee for withdrawing cash. Traders can make the most of up to 5 complimentary withdrawals a month, after which a charge will be sustained.
Review of the expenses of Plus500
When you begin trading with Plus500, you undoubtedly do not desire a big part of your cash to be lost to high transaction expenses. In this part of the review, we take a comprehensive look at the charges of trading with Plus500. Listed below we quickly analyze which costs Plus500 hands down to its customers.
With Plus500 you pay a spread over every deal. The spread is the distinction between the buy and sell cost of a CFD. Plus500 offers 2 spread systems for its instruments: Dynamic spread which is continuously changed according to the market spread out throughout the period a position is open vs. a Spread which does not generally change in line with basic market fluctuations while a position is open, however when the marketplace is unstable and illiquid, might alter to a new level so that the underlying market conditions are better reflected. However, Plus500 intends to offer the tightest possible spreads at all times. Plus500 Chart.
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 costs on the pair of EUR/ USD. We compared these costs with those of other suppliers and concluded that these expenses are comparable to those of other brokers. (We have extracted these information on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can likewise trade in cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade versus fairly advantageously charges 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 therefore reasonably advantageous at Plus500. (We have extracted these information on the 2th of June 14:00.).
Share costs on Plus500
At Plus500 you can also trade in shares by using CFDs. As an example: For the CFD share Tesla you currently pay a spread of $ 0.95, which corresponds to 0.12% of the total worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please keep in mind that this is a photo on April 20, 2020 at 13:00.).
Funding 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. However, you do need to pay a premium for this.
With each security you will see the over night financing buy and the over night funding sell costs. Sometimes, you really get a premium for brief positions. We compared Plus500 with other parties for this evaluation and the financing expenses were fairly low. Still, it is important to bear in mind that Plus500 is not very suitable for long-term trading because of the financing charges you need to pay every day. Plus500 Chart.
Other expenses on Plus500
We have actually thoroughly examined the expenses for this evaluation, and we have not discovered any bothersome concealed expenses. You should guarantee that you log in to the platform at least as soon as every three months. If you don’t do this, costs for inactivity will be charged. This is the case with many brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? It is smart to withdraw the cash from your account.
You can inspect all Costs here:
Plus500 is generally 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 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. Plus500 Chart.
The following extra fees might be used:
Overnight Funding – The over night financing amount is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The overnight financing time and the everyday over night financing portion can be discovered in the “Details” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Cost – 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 be up to 0.7% of the trade’s understood net revenue and loss and reflected in real time into the unrealised net profit and loss of an open position.
Inactivity Fee – A fee of up to USD 10 each month will be imposed, should you not log in to your trading represent a duration of at least 3 months. This cost will be charged once a month from that minute onwards, as long as no login is made to the account. The inactivity charge will amount 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 readily available, although it has not been utilized. Please note that the cost is only collected from the Genuine Money account and just when there are sufficient readily available funds in the account. In order to avoid this fee, simply log into your trading account from time to time, as this is deemed adequate activity to prevent a charge from being charged.
Guaranteed Stop Order – if you choose this feature, please note that as it ensures that your position (trade) closes at a particular requested rate (price), the trade goes through a broader spread.
Conclusion Plus500 charges
The costs 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 look at the various costs you pay when you trade with Plus500.
Software application & possibilities
When you start trading, we understand that you of course likewise want to utilize a great software package. With Plus500 trading is mainly done via the online WebTrader. A great benefit of the WebTrader is the availability: you can log in to the platform at any time and from any place to open or close a position.
What stood out 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 want to trade. New customers will for that reason not have to search wish for purchase & offer buttons on Plus500. Plus500 Chart.
Opening a trade
Opening a trade with Plus500 is rather simple. It is necessary to remember that with Plus500 you constantly trade in CFDs. With Plus500 you never straight sell a share. The only thing that identifies your outcome is the distinction in between the price at which you open and close the position.
When you open a position, you have two alternatives. You can buy the CFD or you can go short on the CFD. When you buy the CFD you get a favorable result with an increasing price and when you offer the CFD you get a favorable result with a falling rate. Because you utilize utilize there is a high danger of losing cash rapidly due to utilize.
The choice to speculate on a declining cost is a significant advantage within the Plus500 platform. The alternative to brief sell increases your versatility and makes it possible to respond to different market circumstances.
Type of orders
With Plus500 you can right away open an order. When you push purchase or offer you will see the screen below:
In the order screen you can go into the amount you wish to trade with. You likewise have the option to immediately open or close the position after a specific rate has been reached. This makes it possible to protect you trades when you have to go out. Plus500 Chart.
It is also possible to position an order with Plus500. You do this by getting in a cost at which you automatically open the CFD position. By using orders, you can attain even much better trading outcomes.
Take advantage of
With Plus500 you have the choice to apply an utilize. With a lever you can take a bigger position with the exact same amount of cash. Both your possible revenue and your potential loss boost when you use leverage. With each security you can immediately see what the optimum leverage is that you can apply.
The presence of a leverage is a benefit in the review of Plus500. You can constantly decide to invest with smaller sized quantities if you want to reduce your threat.
On Plus500 you can likewise trade with the mobile application they provide. The mobile application is less extensive than the WebTrader. You can perform less extensive analyses with it. However, it is useful to likewise set up the mobile application. With the app you can get warnings when the price of a security reaches a particular value.
The mobile application is really user-friendly and it is good to adjust your orders when market conditions alter considerably. The mobile application is for that reason a strong point in our review of the Plus500 platform.
Trading alternatives at Plus500
In this part of the review we will go over the various types of securities you can trade in with Plus500.
With Plus500 you can trade in CFDs on Forex. When you sell Forex, you speculate on rate changes in currency sets. You can for instance place a trade on the advancement of the euro versus the dollar.
On Plus500 you can also sell an extensive series of CFD shares. The shares are nicely arranged by nation, so you can quickly discover a share to trade.
It’s also possible to sell commodities by utilizing CFDs. The most popular commodity for trading is oil. You can often use a maximum utilize of approximately 1:20 to financial investments in raw materials. When you sell gold you can use an utilize of 1:20.
On Plus500 you can likewise trade in CFDs on choices. Choices often move highly: an alternative can in some cases increase or fall in worth by tens of percent. With CFDs you can apply a leverage of approximately 1:20 to options, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on widely known indexes or ETFs. You can for instance trade in the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most famous cryptocurrencies. Cryptocurrencies are really unstable and it can therefore be interesting to actively hypothesize on their rate advancements. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to regulations”). Plus500 Chart.
Conclusion on the trading options at Plus500
Plus500 has a wide variety of tradable CFD securities. Even relatively unknown regional stocks can often be discovered on the Plus500 platform. This makes Plus500 an attractive broker for financiers from all nations. My experience with Plus50 has actually for that reason been extremely positive.
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 illustration options. You can draw horizontal levels to indicate price levels where the marketplace typically moves in the opposing instructions.
You can also add technical indications on the graph. The series of technical indicators at Plus500 is huge. You can pick from more than 100 different choices. It is smart to utilize technical indicators. By using technical indications, you can carry out much better analyses.
The technical analysis choices within the Plus500 software application are substantial. However, it is bothersome that you can not save numerous charts. This indicates that you need to repeat the evaluates frequently. Expert financiers would need to download other programs to perform more complex analyses.
Research study and education
In this review we can be fast about the possibilities of research and education: at Plus500 these options are totally missing out on. There are no courses or webinars readily available at Plus500. This is a downside for individuals who sign up with Plus500 to find out how to trade better.
It works that you receive a notice within the Plus500 software when intriguing developments occur. When the cost of, for instance, oil falls greatly, you will get an alert of this occasion. You can then decide for yourself whether you wish to take a position on the marketplace advancement. Plus500 Chart.
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 fundamental data 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 available in more than 30 languages. Your problems can be solved rapidly in your language.
It is recommended to get in touch with customer support by means of live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be fixed almost right away.
It is likewise possible to email Plus500. Mails are frequently answered within a day. It is a pity that no telephone number is available. This makes it impossible to speak straight to someone. Due to the quick processing time, Plus500 still scores sufficiently in regards to customer care. Plus500 Chart.
Security & reliability
Prior to you deposit cash with a business, you naturally need to know that it is completely safe and secure to do so. In this part of the review, we take a look at how reliable Plus500 is.
Supervisors ensure that brokers stick to the rules. Plus500 is monitored by:
- Plus500UK Ltd authorized & managed by the FCA (# 509909).
- Plus500CY Ltd licensed & controlled 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 monetary company in South Africa, FSP # 47546.
Security of your deposits
Depending on your citizenship, you enjoy extra protection if Plus500 goes bankrupt. This is done through a so-called financier security fund. All customer funds are held in a segregated customer bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set several additional guidelines to make sure that your cash is as protected as possible on Plus500. Below you can discover a summary of these measurements:
Plus500 will never ever speculate with customers’ cash. All funds are stored in a separate bank account, which indicates that this money is safe when unforeseen things occur with Plus500. And finally, on Plus500 you are secured against an unfavorable balance, since he Unfavorable balance protection is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never be left with a residual debt. Plus500 Chart.
Plus500 is 100% no scam. Plus500 firmly handles client possessions. The company is likewise supervised. Plus500 has been around because 2008 and is even noted on the London stock exchange. These are all great indicators that Plus500 is reliable and we have actually come to that conclusion ourselves.
About the company
Plus500 was founded in 2008 and has grown highly since then. Plus500 is active in more than 30 countries and served more than 200,000 active consumers in 2019. Plus500 executed over 35 million transactions with a worth of over $1,000 billion in one year. The head office of the company can be discovered in Israel, but they have actually opened numerous additional offices in other nations. Do you wish to know more about the Plus500 company? In this article you will find everything you require to understand!
Conclusion review 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 application. On Plus500 you can trade at low rates. You likewise have the opportunity to react to altering market conditions by placing orders on both rising and falling rates. Plus500 Chart.
Do you wish to find how Plus500 works? Then immediately open a totally free demo-account by pressing the button listed below: