Plus500 Review: our experience with this broker
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument accessibility subject to regulations), Forex and stocks. In this substantial review, we share our experiences with this broker. In our test, Plus500 became an easy to use broker where you can respond to the current market developments at low rates. Plus500 Singapore.
- At Plus500 you can hypothesize on price advancements at low rates.
- You can trade in an extensive variety of CFD shares.
- It is possible to attempt Plus500 totally free with a demo.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 uses its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Plus500 Singapore.
- Plus500 does not supply advanced software for expert traders.
- You can not find extensive analyses within the platform.
- Plus500 customer service is not readily 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 threat? Utilize the button below to open a demo account with this broker:
We go over 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 cash?
- Costs: just how much does trading cost 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 receive when trading?
- Client service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker trustworthy? (reliability).
- Info: more information about Plus500 (information).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should first go to the Plus500 website. Click on this link * to open the Plus500 website. To develop a complimentary demo account, you just have to pick an email address and a password. It is also possible to visit with your Facebook or Google account. After you have left this info, you can instantly begin trading. Plus500 Singapore.
Plus500 accepts clients from many nations. There are also citizenships 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 offer Plus500 a favorable rating for opening an account. Plus500 Singapore.
Deposit & withdraw money
When you have ended up being familiar with the Plus500 platform, you can change 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 should verify your identity. Plus500 needs to comply with legislation and can just get validated consumers. By verifying brand-new clients, Plus500 prevents customers from using the account for cash laundering.
We have actually gone through the whole procedure and published the required documents. Our account was authorized and launched by Plus500 within an hour. After verifying the identity of your account, you do not have to do it again. The length of this process depends on your personal scenario and can be various for each costumer.
You can withdraw the cash into your account at any time. You can do this by moving the money to your savings account or PayPal account. The transfer is made quickly and the money will be in your account within a couple of days. Plus500 Singapore.
On Plus500 there are no extra costs for transferring and withdrawing money. This is a big benefit of the broker Plus500: lots of other brokers charge a small cost for withdrawing cash. Traders can benefit from as much as 5 complimentary withdrawals a month, after which a charge will be incurred.
Evaluation of the expenses of Plus500
When you start trading with Plus500, you certainly do not want a big part of your cash to be lost to high transaction expenses. In this part of the evaluation, we take a comprehensive look at the fees 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 two spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread out during the period a position is open vs. a Spread which does not typically change in line with general market variations while a position is open, but when the market is volatile and illiquid, may change to a new level so that the underlying market conditions are much better shown. However, Plus500 intends to supply the tightest possible spreads at all times. Plus500 Singapore.
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 fees on the pair of EUR/ USD. We compared these costs with those of other providers and concluded that these expenses are comparable to those of other brokers. (We have drawn out these data on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can also sell cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade against relatively 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 beneficial at Plus500. (We have extracted these information 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 currently pay a spread of $ 0.95, which relates to 0.12% of the overall worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please keep in mind that this is a snapshot 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 have to put in the full amount of the trading position yourself. Nevertheless, you do have to pay a premium for this.
With each security you will see the over night financing buy and the overnight funding sell expenses. In many cases, you in fact get a premium for short positions. We compared Plus500 with other parties for this evaluation and the financing costs were relatively low. Still, it is essential to remember that Plus500 is not very appropriate for long-term trading because of the financing fees you need to pay every day. Plus500 Singapore.
Other expenses on Plus500
We have actually extensively investigated the expenses for this evaluation, and we have actually not discovered any irritating covert costs. You must ensure 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 many brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? Then it is smart to withdraw the cash from your account.
You can check 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 implies a market spread of 0.6 pips, in this example). Unlike other service providers who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Singapore.
The following additional costs might be used:
Overnight Funding – The over night financing quantity is either added to or subtracted from your account when holding a position after a certain time (the “Overnight Funding Time”).
The over night financing time and the day-to-day over night financing percentage can be found in the “Details” link next to the instrument’s name on the primary screen of the platform.
Currency Conversion Charge – Plus500 will charge a Currency Conversion Charge for all trades on instruments denominated in a currency various to the currency of your account.
The Currency Conversion Fee will currently be up to 0.7% of the trade’s realised net revenue and loss and reflected in real time into the unrealised net profit and loss of an open position.
Inactivity Fee – A fee of up to USD 10 monthly will be levied, need to you not visit to your trading account for a duration of at least 3 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 lower of the staying readily available balance in your account or USD 10 (or equivalent depending on your currency). This is to offset the expense incurred in making the service readily available, although it has not been used. Please note that the cost is only collected from the Genuine Cash account and just when there are adequate readily available funds in the account. In order to avoid this fee, simply log into your trading account from time to time, as this is considered sufficient activity to prevent a cost from being charged.
Surefire Stop Order – if you select this function, please note that as it ensures that your position (trade) closes at a specific asked for rate (price), the trade undergoes a wider spread.
Conclusion Plus500 fees
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 article about the expenses on Plus500, we take a closer look at the numerous costs you pay when you trade with Plus500.
Software application & possibilities
When you start trading, we comprehend that you of course likewise wish to utilize a good software package. With Plus500 trading is primarily done through the online WebTrader. An excellent benefit of the WebTrader is the availability: you can log in to the platform at any time and from any place 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 consumers will for that reason not need to browse long for purchase & sell buttons on Plus500. Plus500 Singapore.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is necessary to remember that with Plus500 you constantly sell CFDs. With Plus500 you never ever straight trade in a share. The only thing that determines your result is the difference between the price at which you open and close the position.
When you open a position, you have 2 choices. You can purchase the CFD or you can go short on the CFD. When you buy the CFD you get a positive outcome with a rising cost and when you sell the CFD you get a favorable result with a falling rate. Because you utilize take advantage of there is a high threat of losing money quickly due to utilize.
The alternative to hypothesize on a declining rate is a major advantage within the Plus500 platform. The choice to short sell increases your versatility and makes it possible to react to different market scenarios.
Type of orders
With Plus500 you can instantly open an order. When you push buy or sell you will see the screen below:
In the order screen you can get in the amount you want to trade with. You likewise have the alternative to instantly open or close the position after a particular price has actually been reached. This makes it possible to protect you trades when you have to go out. Plus500 Singapore.
It is also possible to position an order with Plus500. You do this by going into a rate at which you instantly open the CFD position. By using orders, you can accomplish even better trading results.
With Plus500 you have the alternative to apply an utilize. With a lever you can take a larger position with the exact same amount of cash. Both your prospective revenue and your possible loss increase when you use leverage. With each security you can right away see what the maximum leverage is that you can use.
The presence of an utilize is a benefit in the review of Plus500. You can constantly decide to invest with smaller quantities if you wish to lower 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 extensive analyses with it. However, it works to also set up 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 good to change your orders when market conditions change substantially. The mobile application is for that reason a strength in our evaluation of the Plus500 platform.
Trading alternatives at Plus500
In this part of the evaluation we will discuss the various types of securities you can trade in with Plus500.
With Plus500 you can trade in CFDs on Forex. When you trade in Forex, you speculate on cost changes in currency sets. You can for example place a trade on the advancement of the euro versus the dollar.
On Plus500 you can likewise sell a substantial variety of CFD shares. The shares are neatly sorted by nation, so you can quickly discover a share to trade.
It’s likewise possible to sell products by using CFDs. The most popular commodity for trading is oil. You can typically apply an optimum leverage of as much as 1:20 to financial investments in raw materials. When you trade in gold you can apply an utilize of 1:20.
On Plus500 you can also sell CFDs on alternatives. Choices typically move strongly: an alternative can in some cases increase or fall in value by 10s of percent. With CFDs you can use a leverage of as much as 1:20 to options, which even more increases your potential gains or losses.
Indices or ETFs
On Plus500 you can likewise trade in CFDs on well-known indexes or ETFs. You can for example sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most popular cryptocurrencies. Cryptocurrencies are very volatile and it can for that reason be interesting to actively hypothesize on their price developments. One of the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument schedule subject to regulations”). Plus500 Singapore.
Conclusion on the trading options at Plus500
Plus500 has a vast array of tradable CFD securities. Even relatively unknown regional stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all nations. My experience with Plus50 has actually for that reason been really favorable.
Assistance & research study
In this part of the evaluation, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the charts. Within the software application you can use different illustration options. You can draw horizontal levels to indicate price levels where the market typically relocates the opposing direction.
You can also add technical signs on the chart. The variety of technical indications at Plus500 is huge. You can choose from more than 100 various alternatives. It is smart to utilize technical signs. By using technical indications, you can carry out much better analyses.
The technical analysis alternatives within the Plus500 software application are comprehensive. It is bothersome that you can not save multiple graphs. This indicates that you have to repeat the examines regularly. Professional investors would have to download other programs to perform more complex analyses.
Research and education
In this evaluation we can be quick about the possibilities of research study and education: at Plus500 these choices are entirely missing. There are no courses or webinars offered at Plus500. This is a drawback for people who join Plus500 to find out how to trade much better.
It works that you get a notification within the Plus500 software application when interesting advancements occur. When the price of, for instance, oil falls sharply, you will receive a notice of this event. You can then choose for yourself whether you want to take a position on the market advancement. Plus500 Singapore.
Within the Plus500 software you can also see how other users trade in 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 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 recommended to call customer support by means of live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be resolved practically 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 someone. Due to the quick processing time, Plus500 still scores adequately in terms of customer care. Plus500 Singapore.
Security & reliability
Before you deposit cash 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 trusted Plus500 is.
Supervisors ensure that brokers stick to the guidelines. Plus500 is supervised by:
- Plus500UK Ltd licensed & regulated by the FCA (# 509909).
- Plus500CY Ltd licensed & managed 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), certified by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; licensed financial provider in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you take pleasure in 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 bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set a number of additional guidelines to make sure that your money is as safe and secure as possible on Plus500. Listed below you can find an introduction of these measurements:
Plus500 will never ever speculate with clients’ cash. All funds are stored in a different checking account, which suggests that this cash is secure when unexpected things happen with Plus500. And last but not least, on Plus500 you are protected versus a negative balance, since he Negative balance security is a regulative requirement for all EU brokers. So when you trade with Plus500, you can never ever be left with a recurring debt. Plus500 Singapore.
Plus500 is 100% no rip-off. Plus500 firmly manages customer properties. The business is likewise supervised. Plus500 has actually been around since 2008 and is even noted on the London stock market. These are all excellent indications that Plus500 is reliable and we have concerned that conclusion ourselves.
About the business
Plus500 was founded in 2008 and has actually grown strongly since then. Plus500 is active in more than 30 countries and served more than 200,000 active consumers in 2019. Plus500 carried out over 35 million deals with a worth of over $1,000 billion in one year. The head office of the company can be found in Israel, however they have actually opened several additional offices in other countries. Do you wish to know more about the Plus500 company? In this article you will discover whatever you require to know!
Conclusion review Plus500
Plus500 is one of the very best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the user-friendly software application. On Plus500 you can trade at low rates. You likewise have the opportunity to respond to altering market conditions by putting orders on both rising and falling costs. Plus500 Singapore.
Do you wish to find how Plus500 works? Instantly open a free demo-account by pushing the button listed below: