Plus500 Evaluation: our experience with this broker
Plus500 is an online broker where you can speculate 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 react to the latest market developments at low rates. Plus500 Italia.
- At Plus500 you can hypothesize on cost advancements at low rates.
- You can trade in a substantial variety of CFD shares.
- It is possible to try Plus500 free of charge with a demonstration.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 offers its services in more than 30 different languages.
- On Plus500 you can start trading from $100. Plus500 Italia.
- Plus500 does not offer sophisticated software for expert traders.
- You can not discover extensive analyses within the platform.
- Plus500 client service is not readily available by phone.
- On Plus500 you can only sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demo entirely free of charge and without risk? Use the button below to open a demo account with this broker:
We talk about the following subjects 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 expense 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 get when trading?
- Customer service: what is the quality of the client service? (costumer-service).
- Dependability: Is this broker trustworthy? (dependability).
- Info: more details about Plus500 (information).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you must first go to the Plus500 site. Click on this link * to open the Plus500 site. To develop a free demo account, you just have to choose an e-mail address and a password. It is also possible to visit with your Facebook or Google account. After you have left this information, you can instantly begin trading. Plus500 Italia.
Plus500 accepts clients from most nations. There are also nationalities that are not confessed to Plus500. Traders from for example, 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 favorable ranking for opening an account. Plus500 Italia.
Deposit & withdraw cash
When you have ended up being acquainted with the Plus500 platform, you can change to a real cash account at any time. The minimum deposit at Plus500 is $100. You can deposit money into your account by utilizing among these methods:
- Bank transfer.
Before your deposit can be processed, you must verify your identity. Plus500 must comply with legislation and can just get verified clients. By verifying new clients, Plus500 avoids clients from utilizing the account for money laundering.
We’ve gone through the whole process and published the needed documents. Our account was approved and launched 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 scenario and can be various for each client.
You can withdraw the cash into your account at any time. You can do this by transferring the money to your checking account or PayPal account. The transfer is made rapidly and the cash will be in your account within a few days. Plus500 Italia.
On Plus500 there are no additional costs for transferring and withdrawing money. This is a big advantage of the broker Plus500: many other brokers charge a small cost for withdrawing money. Traders can make the most of as much as 5 complimentary withdrawals a month, after which a cost will be incurred.
Evaluation of the costs of Plus500
When you begin trading with Plus500, you undoubtedly do not desire a big part of your money to be lost to high transaction costs. In this part of the evaluation, we take a detailed look at the fees of trading with Plus500. Below we briefly examine which costs Plus500 hands down to its consumers.
With Plus500 you pay a spread over every transaction. The spread is the difference between the buy and sell cost of a CFD. Plus500 uses 2 spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread during the period a position is open vs. a Spread which does not generally alter in line with general market fluctuations while a position is open, but when the marketplace is volatile and illiquid, might alter to a new level so that the underlying market conditions are much better shown. However, Plus500 intends to provide the tightest possible spreads at all times. Plus500 Italia.
Forex expenses on Plus500
On Plus500 you can trade in different currency sets. At the time of writing, you are paying 0.6 pips in deal fees on the pair of EUR/ USD. We compared these costs with those of other service providers and concluded that these costs 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 likewise trade in cryptocurrencies such as Bitcoin. In our evaluation 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 therefore reasonably advantageous at Plus500. (We have extracted these data 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 total worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please keep in mind that this is a picture on April 20, 2020 at 13:00.).
Financing costs at Plus500
With Plus500 you have the choice to trade on margin. Because you can trade on margin, you do not need to put in the full amount of the trading position yourself. However, you do have to pay a premium for this.
With each security you will see the overnight financing buy and the overnight financing sell expenses. Sometimes, you in fact receive a premium for short positions. We compared Plus500 with other parties for this review and the financing expenses were reasonably low. Still, it is essential to bear in mind that Plus500 is not very suitable for long-lasting trading because of the financing fees you need to pay every day. Plus500 Italia.
Other costs on Plus500
We have actually thoroughly investigated the costs for this evaluation, and we have not found any annoying hidden costs. However, you must ensure that you log in to the platform at least when every three months. If you don’t 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 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 means 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 Italia.
Nevertheless, the following additional fees may be applied:
Overnight Funding – The overnight funding amount is either added to or subtracted from your account when holding a position after a specific time (the “Overnight Funding Time”).
The overnight funding time and the everyday over night funding percentage can be found in the “Details” link next to the instrument’s name on the main screen of the platform.
Currency Conversion Cost – Plus500 will charge a Currency Conversion Fee for all trades on instruments denominated in a currency various to the currency of your account.
The Currency Conversion Charge will currently be up to 0.7% of the trade’s realised internet profit and loss and shown in real time into the unrealised net earnings and loss of an open position.
Inactivity Cost – A cost of as much as USD 10 each month will be imposed, need to you not visit to your trading account for a duration of at least three months. This cost will be charged once a month from that minute onwards, as long as no login is made to the account. The lack of exercise cost will amount to the lower of the staying offered balance in your account or USD 10 (or comparable depending upon your currency). This is to balance out the expense incurred in making the service available, although it has not been used. Please note that the charge is just gathered from the Real Cash account and just when there are sufficient available 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 fee from being charged.
Surefire Stop Order – if you choose this feature, please note that as it guarantees that your position (trade) closes at a particular requested rate (rate), the trade is subject to a larger spread.
Conclusion Plus500 fees
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 take a look at the different costs you pay when you trade with Plus500.
Software application & possibilities
When you start trading, we understand that you of course also wish to utilize a good software package. With Plus500 trading is generally done via the online WebTrader. A great benefit of the WebTrader is the ease of access: 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 consumers will therefore not have to search long for purchase & offer buttons on Plus500. Plus500 Italia.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is very important to remember that with Plus500 you constantly trade in CFDs. With Plus500 you never ever straight sell a share. The only thing that identifies your result is the difference in between the cost at which you open and close the position.
When you open a position, you have 2 alternatives. You can buy the CFD or you can go short on the CFD. When you buy the CFD you get a positive outcome with an increasing cost and when you offer the CFD you get a favorable result with a falling cost. Given that you use leverage there is a high threat of losing cash quickly due to take advantage of.
The option to hypothesize on a decreasing price is a significant advantage within the Plus500 platform. The option to brief sell increases your flexibility and makes it possible to respond to various market situations.
Type of orders
With Plus500 you can right away open an order. When you press purchase or sell you will see the screen listed below:
In the order screen you can go into the amount you want to trade with. You likewise have the option to automatically open or close the position after a particular cost has been reached. This makes it possible to secure you trades when you have to go out. Plus500 Italia.
It is likewise possible to put an order with Plus500. You do this by getting in a price at which you automatically open the CFD position. By using orders, you can accomplish even better trading results.
With Plus500 you have the choice to use an utilize. With a lever you can take a bigger position with the same amount of cash. Both your possible earnings and your prospective loss increase when you use utilize. With each security you can right away see what the optimum take advantage of is that you can apply.
The existence of an utilize is an advantage in the review of Plus500. You can constantly decide to invest with smaller sized amounts if you wish to decrease 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. Nevertheless, it works to also set up the mobile application. With the app you can get warnings when the price of a security reaches a particular worth.
The mobile application is very user-friendly and it is good to adjust your orders when market conditions alter significantly. The mobile application is for that reason a strong point in our evaluation of the Plus500 platform.
Trading choices at Plus500
In this part of the review we will go over the various types of securities you can sell with Plus500.
With Plus500 you can sell CFDs on Forex. When you trade in Forex, you speculate on price modifications in currency pairs. You can for instance location a trade on the advancement of the euro versus the dollar.
On Plus500 you can also trade in an extensive range of CFD shares. The shares are nicely arranged by nation, so you can rapidly discover a share to trade.
It’s likewise possible to trade in products by using CFDs. The most popular product for trading is oil. You can often use a maximum utilize of as much as 1:20 to investments in raw materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can also sell CFDs on choices. Alternatives typically move strongly: a choice can often rise or fall in worth by tens of percent. With CFDs you can use an utilize 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 trade in CFDs on widely known indexes or ETFs. You can for instance sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most famous cryptocurrencies. Cryptocurrencies are extremely unpredictable and it can for that reason be interesting to actively hypothesize on their price developments. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to guidelines”). Plus500 Italia.
Conclusion on the trading choices at Plus500
Plus500 has a vast array of tradable CFD securities. Even reasonably unidentified regional stocks can typically be found on the Plus500 platform. This makes Plus500 an attractive broker for investors from all countries. My experience with Plus50 has therefore been really positive.
Assistance & research
In this part of the evaluation, we examine how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the charts. Within the software you can use different illustration alternatives. You can draw horizontal levels to indicate price levels where the marketplace typically relocates the opposing direction.
You can likewise add technical indicators on the graph. The range of technical indications at Plus500 is huge. You can choose from more than 100 various alternatives. It is a good idea to use technical indications. By using technical indications, you can carry out much better analyses.
The technical analysis alternatives within the Plus500 software application are substantial. It is troublesome that you can not conserve several charts. This suggests that you need to duplicate the analyzes regularly. 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 and education: at Plus500 these choices are completely 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 discover how to trade better.
It works that you get a notice within the Plus500 software when intriguing advancements occur. When the rate of, for example, oil falls sharply, you will receive an alert of this event. You can then decide on your own whether you wish to take a position on the market advancement. Plus500 Italia.
Within the Plus500 software application 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 purchasers or sellers. Other basic data is missing out on with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has an extensive and quick customer service that is readily available in more than 30 languages. Your issues can be fixed rapidly in your language.
It is advised to get in touch with customer 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 fixed almost instantly.
It is also possible to email Plus500. Mails are frequently addressed within a day. It is a pity that no telephone number is offered. This makes it difficult to speak straight to somebody. Due to the fast processing time, Plus500 still ratings sufficiently in regards to client service. Plus500 Italia.
Security & reliability
Before you deposit cash with a company, you naturally would like to know that it is entirely protected to do so. In this part of the review, we take a look at how trustworthy Plus500 is.
Supervisors make sure that brokers abide by the rules. Plus500 is supervised by:
- Plus500UK Ltd licensed & regulated by the FCA (# 509909).
- Plus500CY Ltd licensed & regulated 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), accredited 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 take pleasure in additional security if Plus500 declares bankruptcy. This is done through a so-called financier protection 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 numerous additional guidelines to guarantee that your cash is as safe and secure as possible on Plus500. Listed below you can find a summary of these measurements:
Plus500 will never ever speculate with clients’ cash. All funds are kept in a separate checking account, which suggests that this cash is secure when unanticipated things occur with Plus500. And last but not least, on Plus500 you are safeguarded versus an unfavorable balance, since he Unfavorable balance defense is a regulative requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted a recurring financial obligation. Plus500 Italia.
Plus500 is 100% no scam. Plus500 securely manages customer assets. The company is also monitored. Plus500 has been around because 2008 and is even listed on the London stock exchange. These are all great indicators that Plus500 is dependable and we have come to that conclusion ourselves.
About the business
Plus500 was founded in 2008 and has grown strongly since then. Plus500 is active in more than 30 countries and served more than 200,000 active customers in 2019. Plus500 executed over 35 million transactions with a value of over $1,000 billion in one year. The headquarters of the business can be found in Israel, but they have opened numerous additional workplaces in other countries. Do you need to know more about the Plus500 company? In this post you will discover whatever you require to understand!
Conclusion review Plus500
Plus500 is among the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by utilizing the user-friendly software. On Plus500 you can trade at low rates. You also have the chance to respond to altering market conditions by putting orders on both fluctuating rates. Plus500 Italia.
Do you want to find how Plus500 works? Instantly open a free demo-account by pushing the button below: