Plus500 Evaluation: our experience with this broker
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to guidelines), Forex and stocks. In this extensive review, we share our experiences with this broker. In our test, Plus500 emerged as an easy to use broker where you can respond to the latest market advancements at low rates. Plus500 Desktop.
- At Plus500 you can speculate on cost developments at low rates.
- You can trade in a substantial variety of CFD shares.
- It is possible to try Plus500 for free with a demo.
- On Plus500 you can use the user-friendly web trader.
- Plus500 offers its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Plus500 Desktop.
- Plus500 does not offer advanced software application for professional traders.
- You can not find substantial analyses within the platform.
- Plus500 customer support is not available by phone.
- On Plus500 you can only trade in CFDs.
Would you like to try the possibilities at Plus500 with a demo entirely free of charge and without danger? Use the button below to open a demo account with this broker:
We go over the following topics in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you transfer and withdraw money?
- Expenses: how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading choices: in what securities you trade on Plus500?
- Assistance: what support do you receive when trading?
- Customer service: what is the quality of the client service? (costumer-service).
- Dependability: Is this broker trustworthy? (reliability).
- Details: more info about Plus500 (information).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you must initially check out the Plus500 site. Click on this link * to open the Plus500 site. To create a free demo account, you just have to pick an e-mail address and a password. It is also possible to visit with your Facebook or Google account. After you have left this details, you can instantly begin trading. Plus500 Desktop.
Plus500 accepts clients from many countries. There are also citizenships 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 evaluation, we therefore give Plus500 a positive ranking for opening an account. Plus500 Desktop.
Deposit & withdraw money
When you have ended up being 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 cash into your account by using among these methods:
- Bank transfer.
Before your deposit can be processed, you should validate your identity. Plus500 should abide by legislation and can just receive verified consumers. By validating new costumers, Plus500 avoids customers from utilizing the represent cash laundering.
We have actually gone through the whole procedure and uploaded the required documents. Our account was authorized and released by Plus500 within an hour. After confirming the identity of your account, you don’t have to do it once again. The length of this process depends on 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 moving 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. Plus500 Desktop.
On Plus500 there are no additional expenses for depositing and withdrawing money. This is a big benefit of the broker Plus500: lots of other brokers charge a little cost for withdrawing money. Traders can take advantage of approximately 5 free withdrawals a month, after which a cost will be sustained.
Review of the expenses of Plus500
When you start trading with Plus500, you certainly do not want a big part of your money to be lost to high deal expenses. In this part of the evaluation, we take a comprehensive take a look at the costs of trading with Plus500. Listed below we quickly take a look at which costs Plus500 passes on to its clients.
With Plus500 you pay a spread over every deal. The spread is the distinction in between the buy and sell rate of a CFD. Plus500 uses 2 spread systems for its instruments: Dynamic spread which is continuously changed according to the marketplace spread during the period a position is open vs. a Spread which does not normally change in line with basic market variations while a position is open, but when the marketplace is volatile and illiquid, might change to a brand-new level so that the underlying market conditions are better reflected. However, Plus500 aims to provide the tightest possible spreads at all times. Plus500 Desktop.
Forex costs on Plus500
On Plus500 you can sell different 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 providers and concluded that these expenses are comparable to those of other brokers. (We have extracted these data on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our evaluation 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 contract. Trading cryptocurrencies is for that reason fairly helpful at Plus500. (We have actually drawn out these data on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can also sell shares by utilizing 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 therefore possible at a low cost. (Please note that this is a snapshot on April 20, 2020 at 13:00.).
Funding costs 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 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 financing sell costs. Sometimes, you really receive a premium for short positions. We compared Plus500 with other parties for this review and the funding costs were fairly low. Still, it is essential to remember that Plus500 is not really suitable for long-term trading because of the funding costs you have to pay daily. Plus500 Desktop.
Other expenses on Plus500
We have actually thoroughly investigated the costs for this evaluation, and we have actually not found any frustrating hidden expenses. However, you must guarantee that you visit to the platform at least as soon as every 3 months. If you do not do this, costs for lack of exercise will be charged. This holds true with most 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 inspect all Costs here:
Plus500 is generally 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 implies 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. Plus500 Desktop.
Nevertheless, the following extra charges may be applied:
Overnight Financing – The overnight financing quantity is either added to or subtracted from your account when holding a position after a certain time (the “Overnight Financing Time”).
The overnight funding time and the day-to-day over night funding portion can be found in the “Details” link beside the instrument’s name on the primary 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 Fee will currently be up to 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 Charge – A cost of as much as USD 10 monthly will be imposed, need to you not log in to your trading account for a period of a minimum of 3 months. This fee will be charged when a month from that minute onwards, as long as no login is made to the account. The lack of exercise cost will be equal to the lower of the staying available balance in your account or USD 10 (or equivalent depending upon your currency). This is to offset the cost incurred in making the service readily available, even though it has not been used. However, please note that the fee is just collected 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 considered enough activity to prevent a charge from being charged.
Guaranteed Stop Order – if you pick this feature, please note that as it ensures that your position (trade) closes at a particular requested rate (rate), the trade goes through a wider spread.
Conclusion Plus500 fees
The expenses 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 article about the costs on Plus500, we take a closer take a look at the numerous expenses you pay when you trade with Plus500.
Software application & possibilities
When you start trading, we understand that you obviously also want to use a good software package. With Plus500 trading is mainly done via the online WebTrader. A fantastic advantage of the WebTrader is the accessibility: you can visit to the platform at any time and from any place to open or close a position.
What stood apart in our evaluation was the user-friendliness of Plus500. The platform looks clear and thanks to the search function you can quickly discover the CFD in which you wish to trade. New clients will for that reason not need to search long for purchase & sell buttons on Plus500. Plus500 Desktop.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is essential to remember 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 price at which you open and close the position.
When you open a position, you have 2 options. 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 price and when you offer the CFD you get a positive result with a falling cost. Since you use leverage there is a high threat of losing money rapidly due to utilize.
The choice to hypothesize on a declining cost is a major advantage within the Plus500 platform. The alternative to brief sell increases your versatility and makes it possible to react to different market scenarios.
Type of orders
With Plus500 you can immediately open an order. When you press purchase or offer you will see the screen below:
In the order screen you can enter the amount you wish to trade with. You likewise have the option to instantly open or close the position after a certain rate has been reached. This makes it possible to protect you trades when you need to go out. Plus500 Desktop.
It is also possible to position 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 much better trading results.
Take advantage of
With Plus500 you have the option to use a leverage. With a lever you can take a larger position with the same quantity of money. Both your possible profit and your possible loss boost when you use utilize. With each security you can instantly see what the optimum utilize 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 quantities if you wish to reduce your threat.
On Plus500 you can also trade with the mobile application they provide. The mobile application is less substantial than the WebTrader. You can perform less extensive analyses with it. Nevertheless, it is useful to also install the mobile application. With the app you can get warnings when the price of a security reaches a specific value.
The mobile application is very user-friendly and it is good to adjust your orders when market conditions alter considerably. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
Trading options 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 trade in CFDs on Forex. When you trade in Forex, you speculate on price modifications in currency pairs. You can for example location a trade on the advancement of the euro against the dollar.
On Plus500 you can likewise trade in an extensive variety of CFD shares. The shares are nicely sorted by nation, so you can quickly discover a share to trade.
It’s likewise possible to trade in products by using CFDs. The most popular commodity for trading is oil. You can frequently use an optimum leverage of as much as 1:20 to investments in basic materials. When you trade in gold you can use an utilize of 1:20.
On Plus500 you can likewise trade in CFDs on choices. Alternatives typically move highly: an option can often rise or fall in worth by 10s of percent. With CFDs you can use an utilize of as much as 1:20 to choices, which further increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on widely known indexes or ETFs. You can for example 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 unpredictable and it can therefore be interesting to actively speculate on their cost developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to policies”). Plus500 Desktop.
Conclusion on the trading alternatives at Plus500
Plus500 has a vast array of tradable CFD securities. Even relatively unknown regional stocks can typically be discovered on the Plus500 platform. This makes Plus500 an attractive broker for investors from all nations. My experience with Plus50 has for that reason been very positive.
Assistance & research
In this part of the evaluation, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the graphs. Within the software application you can use various drawing alternatives. You can draw horizontal levels to suggest price levels where the marketplace typically relocates the opposing direction.
You can likewise add technical signs on the chart. The range of technical indicators at Plus500 is massive. You can choose from more than 100 various options. It is wise to use technical indicators. By utilizing technical signs, you can carry out better analyses.
The technical analysis options within the Plus500 software are substantial. It is inconvenient that you can not conserve numerous graphs. This implies that you have to duplicate the evaluates regularly. Expert financiers would need to download other programs to carry out more complex analyses.
Research and education
In this review we can be fast about the possibilities of research study and education: at Plus500 these choices are totally missing. There are no courses or webinars offered at Plus500. This is a drawback for people who sign up with Plus500 to discover how to trade much better.
It is useful that you get a notification within the Plus500 software application when interesting advancements take place. When the price of, for example, oil falls sharply, you will get a notice of this event. You can then decide for yourself whether you wish to take a position on the market development. Plus500 Desktop.
Within the Plus500 software application you can also see how other users sell a security. By taking a look at the positions other traders take, you can see whether there are more buyers or sellers. Other basic 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 fast customer support that is available in more than 30 languages. Your issues can be solved quickly in your language.
It is recommended to contact client service through live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your problems can be fixed nearly immediately.
It is also possible to email Plus500. Mails are often addressed within a day. It is a pity that no phone number is available. This makes it impossible to speak directly to somebody. Due to the quick processing time, Plus500 still ratings sufficiently in regards to customer service. Plus500 Desktop.
Security & reliability
Prior to you transfer cash with a company, you naturally wish to know that it is completely safe and secure to do so. In this part of the review, we take a look at how dependable Plus500 is.
Supervisors make sure that brokers stick to the guidelines. Plus500 is monitored by:
- Plus500UK Ltd licensed & managed by the FCA (# 509909).
- Plus500CY Ltd authorized & regulated by the CySEC (# 250/14).
- Plus500SG Pte Ltd, licensed 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 service provider in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you enjoy additional security if Plus500 goes bankrupt. This is done through a so-called financier defense fund. All client funds are kept in a segregated customer bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set several extra rules to guarantee that your cash is as safe as possible on Plus500. Listed below you can find an introduction of these measurements:
Plus500 will never speculate with consumers’ cash. All funds are kept in a different savings account, which means that this cash is protected when unforeseen things happen with Plus500. And last but not least, on Plus500 you are protected against a negative balance, due to the fact that he Negative balance defense is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never ever be left with a residual financial obligation. Plus500 Desktop.
Plus500 is 100% no scam. Plus500 safely handles client possessions. The business is also monitored. Plus500 has been around since 2008 and is even listed on the London stock exchange. These are all great indications that Plus500 is dependable and we have actually concerned that conclusion ourselves.
About the business
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 performed 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 several extra offices in other nations. Do you would like to know more about the Plus500 company? In this article you will discover everything you need to know!
Conclusion review Plus500
Plus500 is one of the best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by utilizing the user-friendly software application. On Plus500 you can trade at low rates. You also have the opportunity to react to altering market conditions by putting orders on both rising and falling rates. Plus500 Desktop.
Do you wish to discover how Plus500 works? Then right away open a free demo-account by pushing the button below: