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 comprehensive 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 developments at low rates. Plus500 London Stock Exchange.
Plus500 London Stock Exchange
- At Plus500 you can speculate on price developments at low rates.
- You can sell a substantial variety of CFD shares.
- It is possible to try Plus500 totally free with a demonstration.
- On Plus500 you can use 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 London Stock Exchange.
- Plus500 does not offer sophisticated software application for professional traders.
- You can not find substantial analyses within the platform.
- Plus500 client service is not readily available by phone.
- On Plus500 you can just sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demo totally free of charge and without threat? Use the button listed below to open a demonstration account with this broker:
Plus500 London Stock Exchange
We discuss the following subjects in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw money?
- Costs: how much does trading expense on Plus500?
- Functionalities: what are the possibilities of the software?
- Trading choices: in what securities you trade on Plus500?
- Assistance: what support do you get when trading?
- Client service: what is the quality of the costumer service? (costumer-service).
- Reliability: Is this broker reliable? (dependability).
- Information: more info about Plus500 (details).
- Conclusion: the verdict of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you must first go to 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 also possible to log in with your Facebook or Google account. After you have left this information, you can immediately start trading. Plus500 London Stock Exchange.
Plus500 accepts customers from the majority of nations. 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 review, we for that reason offer Plus500 a positive score for opening an account. Plus500 London Stock Exchange.
Deposit & withdraw cash
When you have ended up being familiar with the Plus500 platform, you can switch to a genuine money account at any time. The minimum deposit at Plus500 is $100. You can deposit money into your account by utilizing among these techniques:
- Bank transfer.
Before your deposit can be processed, you must confirm your identity. Plus500 must comply with legislation and can only receive confirmed consumers. By confirming new clients, Plus500 prevents costumers from using the account for cash laundering.
We’ve gone through the whole procedure and uploaded the needed documents. Our account was authorized and launched by Plus500 within an hour. After verifying the identity of your account, you do not need to do it again. The length of this procedure depends on your personal situation and can be different for each customer.
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 quickly and the cash will remain in your account within a few days. Plus500 London Stock Exchange.
On Plus500 there are no extra expenses for transferring and withdrawing cash. This is a big benefit of the broker Plus500: lots of other brokers charge a little charge for withdrawing cash. Traders can make the most of approximately 5 complimentary withdrawals a month, after which a charge will be sustained.
Plus500 London Stock Exchange
Review of the expenses of Plus500
When you begin trading with Plus500, you certainly do not want a big part of your money to be lost to high deal costs. In this part of the evaluation, we take a detailed look at the costs of trading with Plus500. Below we briefly analyze which costs Plus500 passes on to its customers.
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 provides 2 spread systems for its instruments: Dynamic spread which is constantly adjusted according to the market spread out throughout the period a position is open vs. a Spread which does not usually alter in line with general market fluctuations while a position is open, however when the market is unpredictable and illiquid, may change to a new level so that the underlying market conditions are much better shown. Plus500 aims to supply the tightest possible spreads at all times. Plus500 London Stock Exchange.
Forex costs on Plus500
On Plus500 you can sell different currency pairs. At the time of writing, you are paying 0.6 pips in transaction 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 actually drawn out these data on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can also trade in 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 writing while at eToro you pay more than $50 per contract. Trading cryptocurrencies is for that reason fairly advantageous at Plus500. (We have actually extracted these data on the 2th of June 14:00.).
Share costs 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 therefore possible at a low cost. (Please keep in mind 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 need 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 funding buy and the over night financing offer costs. In some cases, you in fact receive a premium for short positions. We compared Plus500 with other parties for this evaluation and the financing costs were fairly low. Still, it is essential to remember that Plus500 is not very ideal for long-lasting trading because of the financing costs you have to pay on a daily basis. Plus500 London Stock Exchange.
Other costs on Plus500
We have actually thoroughly investigated the costs for this evaluation, and we have actually not found any irritating surprise expenses. You must make sure that you log in to the platform at least when every 3 months. If you don’t do this, costs for inactivity will be charged. This is the case with most brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? Then it is a good idea 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”. 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 London Stock Exchange.
The following additional charges may be applied:
Overnight Financing – The overnight financing amount is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The over night funding time and the day-to-day over night financing portion can be discovered 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 Cost 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 understood web profit and loss and shown in real time into the unrealised net earnings and loss of an employment opportunity.
Lack of exercise Cost – A charge of approximately USD 10 monthly will be levied, need to you not log in to your trading account for a duration of at least 3 months. This charge will be charged as soon as a month from that moment onwards, as long as no login is made to the account. The inactivity charge will be equal to the lesser of the staying offered balance in your account or USD 10 (or equivalent depending upon your currency). This is to offset the expense sustained in making the service available, even though it has actually not been used. However, please note that the fee is only collected from the Real Cash account and just when there suffice offered funds in the account. In order to avoid this fee, simply log into your trading account from time to time, as this is deemed sufficient activity to prevent a charge from being charged.
Surefire Stop Order – if you choose this function, please note that as it ensures that your position (trade) closes at a particular requested rate (cost), the trade goes through 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 look at the different costs you pay when you trade with Plus500.
Plus500 London Stock Exchange
Software application & possibilities
When you start trading, we understand that you obviously also want to use an excellent software package. With Plus500 trading is generally done via the online WebTrader. A fantastic advantage of the WebTrader is the availability: you can visit to the platform at any time and from any area to open or close a position.
What stuck out in our evaluation 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 for that reason not need to search wish for buy & offer buttons on Plus500. Plus500 London Stock Exchange.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is very important to remember that with Plus500 you constantly sell CFDs. With Plus500 you never ever straight sell a share. The only thing that determines your result is the difference in between the cost at which you open and close the position.
When you open a position, you have two options. You can buy the CFD or you can go short on the CFD. When you purchase the CFD you get a favorable outcome with an increasing rate and when you offer the CFD you get a favorable result with a falling rate. Since you use take advantage of there is a high danger of losing money quickly due to leverage.
The alternative to hypothesize on a decreasing price is a significant benefit within the Plus500 platform. The alternative to brief sell increases your flexibility and makes it possible to react to various market circumstances.
Kind of orders
With Plus500 you can immediately open an order. When you push buy or offer you will see the screen below:
In the order screen you can get in the quantity you wish to trade with. You likewise have the option to instantly open or close the position after a specific rate has been reached. This makes it possible to secure you trades when you need to go out. Plus500 London Stock Exchange.
It is also possible to put an order with Plus500. You do this by going into a cost at which you immediately open the CFD position. By using orders, you can achieve even much better trading outcomes.
With Plus500 you have the option to apply an utilize. With a lever you can take a bigger position with the exact same quantity of cash. Both your possible profit and your prospective loss increase when you use leverage. With each security you can right away see what the maximum leverage is that you can use.
The existence of an utilize is an advantage in the evaluation of Plus500. You can always choose to invest with smaller sized amounts if you wish to reduce your risk.
On Plus500 you can also trade with the mobile application they provide. The mobile application is less comprehensive than the WebTrader. You can carry out less extensive analyses with it. Nonetheless, it is useful to also install the mobile application. With the app you can receive cautions when the price of a security reaches a specific value.
The mobile application is really easy to use 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 London Stock Exchange
Trading choices at Plus500
In this part of the evaluation we will go over the various types of securities you can sell with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you speculate on price changes in currency pairs. You can for instance place a trade on the development of the euro versus the dollar.
On Plus500 you can likewise trade in an extensive range of CFD shares. The shares are neatly arranged by country, so you can quickly discover a share to trade.
It’s also possible to sell commodities by using CFDs. The most popular commodity for trading is oil. You can typically apply a maximum leverage of approximately 1:20 to investments in raw materials. When you trade in gold you can use an utilize of 1:20.
On Plus500 you can also sell CFDs on alternatives. Options frequently move strongly: an option can sometimes rise or fall in worth by tens of percent. With CFDs you can use an utilize of as much as 1:20 to alternatives, which further increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also sell CFDs on popular 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 very unstable and it can for that reason be interesting to actively speculate on their cost developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to policies”). Plus500 London Stock Exchange.
Conclusion on the trading options at Plus500
Plus500 has a wide range of tradable CFD securities. Even fairly unknown regional stocks can frequently be found on the Plus500 platform. This makes Plus500 an appealing broker for investors from all countries. My experience with Plus50 has actually therefore been extremely 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 you can use different illustration alternatives. You can draw horizontal levels to suggest price levels where the market frequently relocates the opposing direction.
You can also include technical indicators on the graph. The series of technical indications at Plus500 is huge. You can choose from more than 100 different alternatives. It is wise to use technical indicators. By utilizing technical indications, you can perform much better analyses.
The technical analysis options within the Plus500 software are comprehensive. Nevertheless, it is inconvenient that you can not conserve multiple graphs. This means that you have to repeat the analyzes regularly. Expert investors would have to download other programs to perform more complex analyses.
Research study and education
In this evaluation we can be fast about the possibilities of research study and education: at Plus500 these options are totally missing. There are no courses or webinars offered at Plus500. This is a disadvantage for individuals who join Plus500 to discover how to trade better.
It works that you get an alert within the Plus500 software application when intriguing developments occur. When the cost of, for example, oil falls sharply, you will get an alert of this event. You can then decide for yourself whether you wish to take a position on the market advancement. Plus500 London Stock Exchange.
Within the Plus500 software you can likewise 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 information is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.
Plus500 has a thorough and quick customer care that is available in more than 30 languages. Your problems can be solved quickly in your language.
It is advised to call customer support via live chat. You can utilize the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved almost instantly.
It is also possible to email Plus500. Mails are frequently addressed within a day. It is a pity that no phone number is offered. This makes it impossible to speak directly to someone. Due to the fast processing time, Plus500 still scores sufficiently in regards to customer support. Plus500 London Stock Exchange.
Security & reliability
Prior to you deposit money with a company, you naturally want to know that it is totally protected to do so. In this part of the review, we take a look at how dependable Plus500 is.
Supervisors make sure that brokers abide by the rules. Plus500 is supervised by:
- Plus500UK Ltd authorized & regulated by the FCA (# 509909).
- Plus500CY Ltd licensed & managed 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; authorized financial company in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you delight in additional protection if Plus500 declares bankruptcy. This is done through a so-called investor security fund. All client funds are held in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set a number of extra rules to ensure that your money is as safe and secure as possible on Plus500. Below you can discover a summary of these measurements:
Plus500 will never hypothesize with clients’ cash. All funds are kept in a different bank account, which indicates that this cash is safe and secure when unforeseen things happen with Plus500. And last but not least, on Plus500 you are protected against a negative balance, because he Unfavorable balance defense is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never be left with a residual financial obligation. Plus500 London Stock Exchange.
Plus500 is 100% no rip-off. Plus500 securely handles consumer possessions. The business is likewise monitored. Plus500 has been around because 2008 and is even listed on the London stock market. These are all great indicators that Plus500 is reliable and we have actually come to that conclusion ourselves.
Plus500 London Stock Exchange
About the company
Plus500 was founded in 2008 and has actually grown strongly ever since. 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 headquarters of the company can be found in Israel, but they have actually opened several extra workplaces in other countries. Do you would like to know more about the Plus500 business? In this post you will find everything you require to know!
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 also have the opportunity to respond to changing market conditions by positioning orders on both fluctuating costs. Plus500 London Stock Exchange.
Do you want to find how Plus500 works? Right away open a free demo-account by pressing the button below: