Plus500 Review: 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 comprehensive evaluation, 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 developments at low rates. Plus500 Live Chart.
Plus500 Live Chart
- At Plus500 you can hypothesize on price developments at low rates.
- You can trade in an extensive range of CFD shares.
- It is possible to try Plus500 free of charge with a demonstration.
- On Plus500 you can use the easy to use web trader.
- Plus500 provides its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Plus500 Live Chart.
- Plus500 does not provide sophisticated software for expert traders.
- You can not discover substantial analyses within the platform.
- Plus500 customer support is not available by phone.
- On Plus500 you can just trade in CFDs.
Would you like to try the possibilities at Plus500 with a demo totally free of charge and without danger? Use the button listed below to open a demonstration account with this broker:
Plus500 Live Chart
We discuss the following subjects in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you deposit and withdraw money?
- Costs: 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 assistance do you receive when trading?
- Customer service: what is the quality of the customer service? (costumer-service).
- Dependability: Is this broker dependable? (dependability).
- Info: more info about Plus500 (details).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you need to first check out the Plus500 website. Click on this link * to open the Plus500 site. To create a complimentary demonstration account, you just have to choose an email address and a password. It is likewise possible to log in with your Facebook or Google account. After you have actually left this info, you can instantly begin trading. Plus500 Live Chart.
Plus500 accepts consumers from most countries. There are also nationalities that are not admitted 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 positive score for opening an account. Plus500 Live Chart.
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 cash into your account by using among these methods:
- Bank transfer.
Prior to your deposit can be processed, you must confirm your identity. Plus500 must abide by legislation and can just receive confirmed clients. By validating brand-new customers, Plus500 avoids clients from using the account for cash laundering.
We’ve gone through the whole procedure and uploaded the needed files. Our account was approved and released 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 upon your personal scenario and can be different for each costumer.
You can withdraw the cash into your account at any time. You can do this by moving the cash to your savings account or PayPal account. The transfer is made rapidly and the money will remain in your account within a couple of days. Plus500 Live Chart.
On Plus500 there are no additional expenses for depositing and withdrawing money. This is a huge advantage of the broker Plus500: numerous other brokers charge a small fee for withdrawing money. Traders can make the most of up to 5 complimentary withdrawals a month, after which a fee will be sustained.
Plus500 Live Chart
Review of the expenses of Plus500
When you begin trading with Plus500, you undoubtedly do not desire a large part of your money to be lost to high deal expenses. In this part of the review, we take an in-depth look at the charges of trading with Plus500. Below we briefly examine which costs Plus500 hands down to its customers.
With Plus500 you pay a spread over every transaction. The spread is the distinction between the buy and sell cost of a CFD. Plus500 provides 2 spread systems for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread during the duration a position is open vs. a Spread which does not normally alter in line with basic market changes while a position is open, but when the market is unpredictable and illiquid, might alter to a brand-new level so that the underlying market conditions are much better shown. Plus500 aims to offer the tightest possible spreads at all times. Plus500 Live Chart.
Forex expenses on Plus500
On Plus500 you can trade in 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 companies and concluded that these expenses are comparable to those of other brokers. (We have actually drawn out these information on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can likewise trade in cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade versus fairly advantageously costs 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 advantageous at Plus500. (We have drawn out these information 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 presently pay a spread of $ 0.95, which corresponds 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 picture on April 20, 2020 at 13:00.).
Financing costs at Plus500
With Plus500 you have the option to trade on margin. Because you can trade on margin, you do not have 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 over night funding buy and the over night funding offer costs. In many cases, 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-lasting trading because of the funding fees you have to pay every day. Plus500 Live Chart.
Other expenses on Plus500
We have actually thoroughly examined the costs for this evaluation, and we have not discovered any bothersome hidden expenses. You must make sure that you log in to the platform at least when every three months. If you don’t do this, costs for lack of exercise will be charged. This holds true with the majority 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 money from your account.
You can examine all Charges here:
Plus500 is generally made up for its services through the “market spread”. 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 provider who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Live Chart.
However, the following extra charges might be used:
Overnight Financing – The over night financing quantity is either contributed to or subtracted from your account when holding a position after a particular time (the “Overnight Financing Time”).
The overnight financing time and the day-to-day overnight financing portion can be discovered in the “Details” link next to the instrument’s name on the main screen of the platform.
Currency Conversion Charge – 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 Cost will currently be up to 0.7% of the trade’s realised net revenue and loss and shown in real time into the unrealised net revenue and loss of an open position.
Lack of exercise Fee – A charge of approximately USD 10 monthly will be levied, must you not log in to your trading account for a duration of a minimum of 3 months. This fee will be charged as soon as a month from that minute onwards, as long as no login is made to the account. The lack of exercise charge will be equal to the lower of the staying readily available balance in your account or USD 10 (or equivalent depending on your currency). This is to offset the cost sustained in making the service offered, despite the fact that it has not been used. Please note that the cost is only gathered from the Real Cash account and only when there are adequate offered funds in the account. In order to avoid this cost, just log into your trading account from time to time, as this is deemed enough activity to prevent a fee from being charged.
Guaranteed Stop Order – if you choose this function, please note that as it guarantees that your position (trade) closes at a particular requested rate (cost), the trade is subject to a broader 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 post about the expenses on Plus500, we take a closer look at the different costs you pay when you trade with Plus500.
Plus500 Live Chart
Software application & possibilities
When you begin trading, we comprehend that you naturally likewise want to use an excellent software package. With Plus500 trading is generally done via the online WebTrader. A fantastic 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 stuck out in our review 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 want to trade. New customers will therefore not have to search long for buy & offer buttons on Plus500. Plus500 Live Chart.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is very important to bear in mind that with Plus500 you always sell CFDs. With Plus500 you never ever straight trade in 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 two choices. You can buy the CFD or you can go short on the CFD. When you purchase the CFD you get a favorable result with a rising rate and when you sell the CFD you get a favorable outcome with a falling rate. Considering that you use leverage there is a high danger of losing cash quickly due to take advantage of.
The alternative to speculate on a declining price is a significant advantage within the Plus500 platform. The choice to brief sell increases your flexibility and makes it possible to react to different market scenarios.
Kind of orders
With Plus500 you can immediately open an order. When you press purchase or offer 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 choice to automatically open or close the position after a particular price has actually been reached. This makes it possible to safeguard you trades when you need to go out. Plus500 Live Chart.
It is likewise possible to put an order with Plus500. You do this by entering a rate at which you instantly open the CFD position. By utilizing orders, you can accomplish even better trading outcomes.
With Plus500 you have the alternative to apply an utilize. With a lever you can take a larger position with the same quantity of money. Both your potential 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 apply.
The existence of an utilize is an advantage in the evaluation of Plus500. You can constantly decide to invest with smaller sized amounts if you wish to lower 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 comprehensive analyses with it. It is helpful to likewise install the mobile application. With the app you can receive cautions when the price of a security reaches a certain worth.
The mobile application is really easy to use and it is great to change your orders when market conditions change considerably. The mobile application is therefore a strength in our evaluation of the Plus500 platform.
Plus500 Live Chart
Trading alternatives at Plus500
In this part of the evaluation we will go over the various kinds of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you hypothesize on price modifications in currency pairs. You can for example place a trade on the development of the euro against the dollar.
On Plus500 you can likewise trade in an extensive variety of CFD shares. The shares are nicely arranged by country, so you can quickly find 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 frequently apply a maximum utilize of up to 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 sell CFDs on options. Options typically move strongly: an alternative can often rise or fall in value by tens of percent. With CFDs you can use an utilize of approximately 1:20 to options, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can likewise trade in CFDs on popular indexes or ETFs. You can for example 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 for that reason be interesting to actively hypothesize on their cost developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to regulations”). Plus500 Live Chart.
Conclusion on the trading options at Plus500
Plus500 has a wide variety of tradable CFD securities. Even reasonably unknown local stocks can often be found on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all countries. My experience with Plus50 has therefore been very favorable.
Support & research
In this part of the review, we investigate how Plus500 supports traders.
At Plus500 you can perform technical analyses on the charts. Within the software application you can utilize various illustration choices. You can draw horizontal levels to show price levels where the market often relocates the opposing direction.
You can also add technical indications on the graph. The series of technical indicators at Plus500 is massive. You can pick from more than 100 various choices. It is wise to utilize technical signs. By utilizing technical signs, you can perform much better analyses.
The technical analysis alternatives within the Plus500 software application are substantial. It is troublesome that you can not save multiple graphs. This suggests that you have to repeat the analyzes frequently. Expert investors would need to download other programs to carry out more complex analyses.
Research and education
In this evaluation we can be fast about the possibilities of research study and education: at Plus500 these alternatives are completely missing. There are no courses or webinars offered at Plus500. This is a downside for people who join Plus500 to learn how to trade much better.
It is useful that you get a notification within the Plus500 software application when intriguing advancements take place. When the price of, for instance, oil falls dramatically, you will get a notification of this event. You can then choose on your own whether you wish to take a position on the market development. Plus500 Live Chart.
Within the Plus500 software 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 purchasers or sellers. Other fundamental data is missing out on with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.
Plus500 has a thorough and fast customer support that is available in more than 30 languages. Your issues can be solved rapidly in your language.
It is advised to contact customer care via live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your problems can be resolved almost instantly.
It is likewise possible to email Plus500. Mails are typically addressed within a day. It is a pity that no phone number is offered. This makes it difficult to speak straight to someone. Due to the quick processing time, Plus500 still scores adequately in regards to customer service. Plus500 Live Chart.
Security & dependability
Before you deposit money with a company, you naturally want to know that it is completely protected to do so. In this part of the evaluation, we take a look at how dependable Plus500 is.
Supervisors make sure that brokers adhere to the guidelines. Plus500 is supervised by:
- Plus500UK Ltd licensed & managed by the FCA (# 509909).
- Plus500CY Ltd licensed & controlled 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), accredited by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; licensed financial supplier in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you enjoy extra security if Plus500 declares bankruptcy. This is done through a so-called investor protection fund. All customer funds are held in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has also set numerous additional rules to ensure that your money is as protected as possible on Plus500. Below you can find an introduction of these measurements:
Plus500 will never ever hypothesize with customers’ money. All funds are kept in a separate checking account, which means that this cash is safe and secure when unforeseen things occur with Plus500. And finally, on Plus500 you are safeguarded against a negative balance, due to the fact that 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 Live Chart.
Plus500 is 100% no fraud. Plus500 firmly manages consumer possessions. The business is likewise monitored. Plus500 has been around because 2008 and is even noted on the London stock market. These are all excellent indications that Plus500 is trustworthy and we have pertained to that conclusion ourselves.
Plus500 Live Chart
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 customers in 2019. Plus500 performed over 35 million transactions with a value of over $1,000 billion in one year. The head office of the company can be found in Israel, however they have opened several 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 know!
Conclusion evaluation Plus500
Plus500 is one of the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the user-friendly software. On Plus500 you can trade at low rates. You likewise have the opportunity to react to changing market conditions by placing orders on both rising and falling rates. Plus500 Live Chart.
Do you want to discover how Plus500 works? Then instantly open a totally free demo-account by pressing the button below: