Plus500 Review: our experience with this broker
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument availability subject to regulations), Forex and stocks. In this comprehensive review, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can respond to the most recent market developments at low rates. Plus500 Margin.
- At Plus500 you can speculate on cost advancements at low rates.
- You can sell a substantial variety of CFD shares.
- It is possible to attempt Plus500 for free with a demonstration.
- On Plus500 you can use the user-friendly web trader.
- Plus500 uses its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Plus500 Margin.
- Plus500 does not supply innovative software application for professional traders.
- You can not find substantial 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 demo totally free of charge and without danger? 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 transfer and withdraw cash?
- Costs: how much does trading expense on Plus500?
- Functionalities: what are the possibilities of the software application?
- Trading alternatives: in what securities you trade on Plus500?
- Assistance: what assistance do you get when trading?
- Client service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker trustworthy? (reliability).
- Info: more details about Plus500 (info).
- Conclusion: the verdict of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should initially visit the Plus500 site. Click on this link * to open the Plus500 site. To create a free demonstration account, you simply have to pick an e-mail 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 instantly begin trading. Plus500 Margin.
Plus500 accepts customers 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 review, we for that reason provide Plus500 a positive rating for opening an account. Plus500 Margin.
Deposit & withdraw money
When you have actually ended up being knowledgeable about 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 using one of these techniques:
- Bank transfer.
Prior to your deposit can be processed, you should confirm your identity. Plus500 must abide by legislation and can just get validated customers. By validating new customers, Plus500 avoids customers from using the represent money laundering.
We’ve gone through the entire procedure and published the required documents. Our account was authorized and launched by Plus500 within an hour. After confirming the identity of your account, you do not have to do it again. The length of this process depends upon your individual scenario and can be various for each costumer.
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 remain in your account within a few days. Plus500 Margin.
On Plus500 there are no additional costs for transferring and withdrawing cash. This is a big advantage of the broker Plus500: lots of other brokers charge a little fee for withdrawing money. Traders can take advantage of approximately 5 totally free withdrawals a month, after which a charge will be sustained.
Review of the expenses of Plus500
When you start trading with Plus500, you clearly do not want a large part of your cash to be lost to high deal costs. In this part of the review, we take a comprehensive look at the charges of trading with Plus500. Below we briefly examine which costs Plus500 hands down to its clients.
With Plus500 you pay a spread over every deal. The spread is the difference between the buy and sell price of a CFD. Plus500 uses 2 spread mechanisms for its instruments: Dynamic spread which is continuously changed according to the market spread out throughout the duration a position is open vs. a Spread which does not generally alter in line with basic market changes 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 reflected. Plus500 aims to offer the tightest possible spreads at all times. Plus500 Margin.
Forex expenses 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 suppliers 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 trade in cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade against relatively 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 agreement. Trading cryptocurrencies is therefore reasonably useful at Plus500. (We have actually extracted these information on the 2th of June 14:00.).
Share expenses 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 equates to 0.12% of the total value. 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.).
Financing costs at Plus500
With Plus500 you have the alternative to trade on margin. Because you can trade on margin, you do not have to put in the total of the trading position yourself. Nevertheless, you do need to pay a premium for this.
With each security you will see the over night financing buy and the overnight financing offer expenses. Sometimes, 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 necessary to remember that Plus500 is not really ideal for long-lasting trading because of the funding costs you have to pay on a daily basis. Plus500 Margin.
Other expenses on Plus500
We have thoroughly examined the expenses for this evaluation, and we have not found any bothersome surprise expenses. Nevertheless, you must ensure that you visit to the platform at least when every 3 months. If you do not do this, costs 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 preparing to trade for a while? It is wise to withdraw the money from your account.
You can inspect all Fees here:
Plus500 is primarily 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 means a market spread of 0.6 pips, in this example). Unlike other service providers who also charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Margin.
The following extra costs may be used:
Overnight Funding – The over night financing amount is either contributed to or subtracted from your account when holding a position after a particular time (the “Overnight Financing Time”).
The over night financing time and the day-to-day over night financing portion 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 Cost for all trades on instruments denominated in a currency different to the currency of your account.
The Currency Conversion Cost will currently depend on 0.7% of the trade’s realised net profit and loss and shown in real time into the unrealised net earnings and loss of an open position.
Lack of exercise Fee – A cost of up to USD 10 monthly will be levied, must you not visit to your trading account for a duration of a minimum of three months. This charge will be charged when a month from that moment onwards, as long as no login is made to the account. The lack of exercise cost will amount to the lesser of the remaining available balance in your account or USD 10 (or equivalent depending on your currency). This is to offset the expense sustained in making the service readily available, although it has not been used. However, please note that the fee is just collected from the Genuine Cash account and only when there suffice 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 fee 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 asked for rate (rate), the trade goes through a larger spread.
Conclusion Plus500 costs
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 short article about the costs on Plus500, we take a closer look at the numerous costs you pay when you trade with Plus500.
Software & possibilities
When you start trading, we understand that you naturally likewise want to use a great software package. With Plus500 trading is generally done through the online WebTrader. A great advantage of the WebTrader is the accessibility: you can visit to the platform at any time and from any location to open or close a position.
What stood apart 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 wish to trade. New clients will therefore not have to browse long for buy & offer buttons on Plus500. Plus500 Margin.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is very important to keep in mind that with Plus500 you always sell CFDs. With Plus500 you never ever 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 2 options. You can purchase the CFD or you can go short on the CFD. When you purchase the CFD you get a positive result with an increasing rate and when you sell the CFD you get a positive result with a falling rate. Considering that you utilize take advantage of there is a high threat of losing money quickly due to leverage.
The option to speculate on a decreasing cost is a major benefit within the Plus500 platform. The choice to short sell increases your flexibility and makes it possible to react to various market circumstances.
Type of orders
With Plus500 you can immediately open an order. When you push buy or sell you will see the screen listed below:
In the order screen you can get in the quantity you want to trade with. You likewise have the alternative to immediately open or close the position after a specific cost has actually been reached. This makes it possible to protect you trades when you have to go out. Plus500 Margin.
It is also possible to put an order with Plus500. You do this by going into a price at which you instantly open the CFD position. By using orders, you can achieve even better trading results.
With Plus500 you have the choice to apply a leverage. With a lever you can take a larger position with the very same quantity of money. Both your possible profit and your prospective loss increase when you apply utilize. With each security you can instantly see what the optimum leverage is that you can apply.
The presence of a leverage is an advantage in the evaluation of Plus500. You can always decide to invest with smaller sized amounts if you want to reduce your threat.
On Plus500 you can also trade with the mobile application they use. The mobile application is less substantial than the WebTrader. You can perform less comprehensive analyses with it. It is useful to likewise install the mobile application. With the app you can get warnings when the price of a security reaches a particular worth.
The mobile application is extremely user-friendly and it is good to change your orders when market conditions change significantly. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
Trading options at Plus500
In this part of the review we will talk about the different types of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you hypothesize on rate changes in currency sets. You can for instance place a trade on the development of the euro versus the dollar.
On Plus500 you can also sell a substantial range 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 utilizing CFDs. The most popular product for trading is oil. You can frequently use a maximum leverage of up to 1:20 to investments in raw materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can likewise trade in CFDs on alternatives. Alternatives frequently move highly: an option can in some cases increase or fall in value by tens of percent. With CFDs you can apply an utilize of as much as 1:20 to options, which further increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can likewise sell CFDs on widely known indexes or ETFs. You can for example sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most famous cryptocurrencies. Cryptocurrencies are extremely unstable and it can therefore be interesting to actively speculate on their price advancements. One of the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument schedule subject to guidelines”). Plus500 Margin.
Conclusion on the trading options at Plus500
Plus500 has a wide variety of tradable CFD securities. Even reasonably unknown regional stocks can often be found on the Plus500 platform. This makes Plus500 an attractive broker for investors from all nations. My experience with Plus50 has therefore been really positive.
Support & research study
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 application you can use various drawing options. You can draw horizontal levels to indicate price levels where the marketplace often relocates the opposing direction.
You can also include technical signs on the chart. The range of technical signs at Plus500 is huge. You can choose from more than 100 different alternatives. It is wise to use technical signs. By using technical signs, you can execute much better analyses.
The technical analysis choices within the Plus500 software are substantial. It is troublesome that you can not save multiple charts. This implies that you need to repeat the examines regularly. Expert financiers would have 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 and education: at Plus500 these choices are totally missing. 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 much better.
It is useful that you receive an alert within the Plus500 software when fascinating developments take place. When the rate of, for instance, oil falls dramatically, you will get an alert of this occasion. You can then decide on your own whether you want to take a position on the marketplace development. Plus500 Margin.
Within the Plus500 software you can likewise 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 essential data is missing with Plus500 platform. Plus500 does not score well in the field of research study and education in our opinion.
Plus500 has a thorough and quick customer service that is available in more than 30 languages. Your problems can be solved quickly in your language.
It is suggested to get in touch with client 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 immediately.
It is likewise possible to email Plus500. Mails are frequently addressed within a day. It is a pity that no phone number is available. This makes it impossible to speak straight to someone. Due to the fast processing time, Plus500 still ratings adequately in regards to customer support. Plus500 Margin.
Security & dependability
Prior to you deposit money with a company, you naturally need to know that it is totally safe and secure to do so. In this part of the review, we look at how dependable Plus500 is.
Supervisors ensure that brokers follow the guidelines. Plus500 is monitored 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), accredited 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 nationality, you delight in additional protection if Plus500 goes bankrupt. This is done through a so-called investor 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 actually also set several additional rules to make sure that your money is as secure as possible on Plus500. Listed below you can discover an overview of these measurements:
Plus500 will never ever hypothesize with clients’ cash. All funds are kept in a separate checking account, which indicates that this money is protected when unforeseen things happen with Plus500. And last but not least, on Plus500 you are secured against an unfavorable balance, since he Unfavorable balance protection is a regulative requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted a recurring debt. Plus500 Margin.
Plus500 is 100% no fraud. Plus500 firmly handles customer properties. The business is also supervised. Plus500 has actually been around considering that 2008 and is even listed on the London stock exchange. These are all great signs that Plus500 is trusted and we have concerned that conclusion ourselves.
About the company
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 consumers in 2019. Plus500 executed over 35 million transactions with a value of over $1,000 billion in one year. The head office of the business can be found in Israel, however they have opened numerous additional offices in other nations. Do you wish to know more about the Plus500 business? In this article you will find everything you require to know!
Conclusion review 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 likewise have the chance to respond to changing market conditions by positioning orders on both fluctuating prices. Plus500 Margin.
Do you wish to find how Plus500 works? Then right away open a complimentary demo-account by pushing the button below: