Plus500 Review: our experience with this broker
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument availability subject to guidelines), Forex and stocks. In this comprehensive evaluation, 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 Trading Platform.
Plus500 Trading Platform
- At Plus500 you can hypothesize on price advancements at low rates.
- You can trade in an extensive series of CFD shares.
- It is possible to attempt 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 start trading from $100. Plus500 Trading Platform.
- Plus500 does not provide sophisticated software for professional traders.
- You can not discover comprehensive analyses within the platform.
- Plus500 customer service is not readily available by phone.
- On Plus500 you can just trade in CFDs.
Would you like to attempt 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:
Plus500 Trading Platform
We talk about the following topics in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw money?
- Expenses: just how much does trading cost on Plus500?
- Functionalities: what are the possibilities of the software application?
- Trading choices: 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 trusted? (reliability).
- Information: more information about Plus500 (info).
- Conclusion: the verdict of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you should first check out the Plus500 website. Click on this link * to open the Plus500 site. To create a complimentary demo account, you just need to select an e-mail address and a password. It is likewise possible to log in with your Facebook or Google account. After you have left this info, you can immediately begin trading. Plus500 Trading Platform.
Plus500 accepts consumers from the majority of countries. However, there are also citizenships that are not confessed to Plus500. Traders from for instance, 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 favorable score for opening an account. Plus500 Trading Platform.
Deposit & withdraw money
When you have actually ended up being acquainted 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 cash into your account by utilizing among these methods:
- Bank transfer.
Prior to your deposit can be processed, you need to validate your identity. Plus500 should adhere to legislation and can only get verified clients. By verifying brand-new customers, Plus500 prevents costumers from using the represent cash laundering.
We have actually gone through the whole process and submitted the needed documents. Our account was approved and released by Plus500 within an hour. After confirming the identity of your account, you do not have to do it once again. The length of this procedure depends upon your individual scenario and can be different for each customer.
You can withdraw the money 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 cash will remain in your account within a few days. Plus500 Trading Platform.
On Plus500 there are no additional expenses for depositing and withdrawing money. This is a huge advantage of the broker Plus500: many other brokers charge a little cost for withdrawing money. Traders can benefit from up to 5 totally free withdrawals a month, after which a fee will be incurred.
Plus500 Trading Platform
Evaluation of the expenses of Plus500
When you begin trading with Plus500, you clearly do not want a large part of your cash to be lost to high deal expenses. In this part of the review, we take an in-depth look at the fees of trading with Plus500. Below we quickly examine which costs Plus500 hands down to its customers.
With Plus500 you pay a spread over every transaction. The spread is the difference between the buy and sell cost of a CFD. Plus500 offers two spread mechanisms for its instruments: Dynamic spread which is constantly changed according to the market spread throughout the period a position is open vs. a Spread which does not generally alter in line with basic market variations while a position is open, however when the marketplace is unpredictable and illiquid, might change to a brand-new level so that the underlying market conditions are much better shown. Nevertheless, Plus500 aims to offer the tightest possible spreads at all times. Plus500 Trading Platform.
Forex costs on Plus500
On Plus500 you can sell various currency pairs. At the time of composing, you are paying 0.6 pips in deal charges 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 drawn out these information on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can also sell cryptocurrencies such as Bitcoin. In our review 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 reasonably beneficial at Plus500. (We have actually drawn out these data on the 2th of June 14:00.).
Share costs on Plus500
At Plus500 you can likewise trade in shares by using CFDs. As an example: For the CFD share Tesla you currently 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 photo on April 20, 2020 at 13:00.).
Funding expenses 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 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 some cases, you actually receive a premium for brief positions. We compared Plus500 with other parties for this evaluation and the funding costs were reasonably low. Still, it is essential to remember that Plus500 is not extremely suitable for long-term trading because of the funding costs you need to pay daily. Plus500 Trading Platform.
Other expenses on Plus500
We have thoroughly investigated the costs for this evaluation, and we have not found any bothersome covert expenses. Nevertheless, you need to guarantee that you visit to the platform a minimum of as soon as every three months. If you do not do this, expenses for lack of exercise will be charged. This holds true with most brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? Then it is wise to withdraw the money from your account.
You can check all Charges here:
Plus500 is mainly 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 indicates 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 Trading Platform.
The following extra fees may be applied:
Overnight Funding – The over night financing quantity is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The over night financing time and the day-to-day overnight financing portion can be discovered in the “Particulars” 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 presently be up to 0.7% of the trade’s realised net profit and loss and shown in real time into the unrealised net profit and loss of an open position.
Lack of exercise Cost – A cost of approximately USD 10 monthly will be levied, ought to you not log in to your trading represent a duration of a minimum of 3 months. This fee will be charged once a month from that moment onwards, as long as no login is made to the account. The inactivity cost will be equal to the lower of the staying available balance in your account or USD 10 (or equivalent depending upon your currency). This is to balance out the cost sustained in making the service offered, although it has not been utilized. Please note that the charge is only gathered from the Genuine Cash account and only when there are enough readily available funds in the account. In order to avoid this charge, 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 select this feature, please note that as it guarantees that your position (trade) closes at a particular requested rate (price), the trade undergoes a broader spread.
Conclusion Plus500 charges
The expenses Plus500 charges are reasonable and in proportion to the amount 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 take a look at the numerous costs you pay when you trade with Plus500.
Plus500 Trading Platform
Software & possibilities
When you start trading, we understand that you of course also wish to use a good software package. With Plus500 trading is generally done through the online WebTrader. A great advantage of the WebTrader is the accessibility: you can log in to the platform at any time and from any area 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 find the CFD in which you want to trade. New customers will for that reason not need to browse long for purchase & offer buttons on Plus500. Plus500 Trading Platform.
Opening a trade
Opening a trade with Plus500 is rather simple. It is very important to keep in mind 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 price 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 purchase the CFD you get a positive result with a rising rate and when you offer the CFD you get a favorable outcome with a falling cost. Because you use take advantage of there is a high danger of losing cash rapidly due to utilize.
The choice to speculate on a declining cost is a significant advantage within the Plus500 platform. The option to short sell increases your flexibility and makes it possible to respond to different market scenarios.
Kind of orders
With Plus500 you can right away open an order. When you press purchase or offer you will see the screen below:
In the order screen you can get in the quantity you wish to trade with. You also have the choice to instantly open or close the position after a particular cost has actually been reached. This makes it possible to secure you trades when you need to go out. Plus500 Trading Platform.
It is also possible to put an order with Plus500. You do this by getting in a cost at which you immediately open the CFD position. By using orders, you can accomplish even much better trading results.
With Plus500 you have the alternative to use an utilize. With a lever you can take a larger position with the same amount of money. Both your potential earnings and your prospective loss increase when you use take advantage of. With each security you can immediately see what the optimum utilize is that you can apply.
The existence of a take advantage of is a benefit in the review of Plus500. You can constantly decide to invest with smaller amounts if you wish to lower your danger.
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. Nonetheless, it is useful to also install the mobile application. With the app you can receive warnings when the rate of a security reaches a certain worth.
The mobile application is really user-friendly and it is great to change your orders when market conditions change substantially. The mobile application is therefore a strong point in our review of the Plus500 platform.
Plus500 Trading 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 trade in Forex, you speculate on rate changes in currency sets. You can for instance place a trade on the development of the euro against the dollar.
On Plus500 you can also sell a substantial variety of CFD shares. The shares are nicely sorted by country, so you can quickly discover a share to trade.
It’s likewise possible to sell commodities by using CFDs. The most popular product for trading is oil. You can typically apply an optimum utilize of as much as 1:20 to investments in raw materials. When you trade in gold you can use an utilize of 1:20.
On Plus500 you can likewise sell CFDs on choices. Choices frequently move highly: an option can sometimes rise or fall in value by tens of percent. With CFDs you can apply an utilize of as much as 1:20 to alternatives, which even more increases your possible 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 really volatile 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 schedule subject to regulations”). Plus500 Trading Platform.
Conclusion on the trading choices at Plus500
Plus500 has a wide range of tradable CFD securities. Even relatively unidentified local stocks can frequently be found on the Plus500 platform. This makes Plus500 an attractive broker for financiers from all countries. My experience with Plus50 has therefore been really positive.
Support & research study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the graphs. Within the software application you can use various illustration choices. You can draw horizontal levels to show price levels where the market typically relocates the opposing direction.
You can also include technical signs on the graph. The variety of technical signs at Plus500 is massive. You can choose from more than 100 different options. It is wise to use technical indications. By using technical indications, you can execute much better analyses.
The technical analysis alternatives within the Plus500 software are extensive. It is bothersome that you can not conserve several 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 and education
In this evaluation we can be quick about the possibilities of research and education: at Plus500 these options are completely missing out on. There are no courses or webinars available at Plus500. This is a drawback for people who sign up with Plus500 to discover how to trade better.
It is useful that you receive an alert within the Plus500 software application when fascinating developments take place. When the price of, for instance, oil falls sharply, you will receive a notification of this occasion. You can then decide for yourself whether you wish to take a position on the market advancement. Plus500 Trading Platform.
Within the Plus500 software application you can also see how other users trade in a security. By looking at the positions other traders take, you can see whether there are more buyers or sellers. Other fundamental data is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has a thorough and quick client service that is available in more than 30 languages. Your issues can be fixed rapidly in your language.
It is recommended to get in touch with 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 resolved nearly right away.
It is also possible to email Plus500. Mails are often answered within a day. It is a pity that no phone number is available. This makes it difficult to speak directly to somebody. Due to the quick processing time, Plus500 still scores adequately in terms of customer service. Plus500 Trading Platform.
Security & reliability
Before you deposit money with a company, you naturally would like to know that it is entirely safe and secure to do so. In this part of the review, we look at how trustworthy Plus500 is.
Supervisors guarantee that brokers adhere to the guidelines. Plus500 is monitored by:
- Plus500UK Ltd licensed & regulated by the FCA (# 509909).
- Plus500CY Ltd authorized & managed by the CySEC (# 250/14).
- Plus500SG Pte Ltd, accredited by MAS (#CMS 100648-1) and IE Singapore (#PLUS/ CBL/2018).
- Plus500AU Pty Ltd (ACN 153301681), licensed 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 enjoy additional defense if Plus500 declares bankruptcy. This is done through a so-called investor protection fund. All customer funds are held in a segregated customer checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set numerous extra rules to ensure that your money is as safe as possible on Plus500. Below you can discover an introduction of these measurements:
Plus500 will never speculate with consumers’ money. All funds are kept in a different savings account, which indicates that this cash is safe and secure when unforeseen things happen with Plus500. And finally, on Plus500 you are secured against an unfavorable balance, because he Negative balance security is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never ever be left with a residual financial obligation. Plus500 Trading Platform.
Plus500 is 100% no rip-off. Plus500 firmly handles client properties. The company is also supervised. Plus500 has been around considering that 2008 and is even noted on the London stock market. These are all great signs that Plus500 is trustworthy and we have pertained to that conclusion ourselves.
Plus500 Trading Platform
About the business
Plus500 was founded in 2008 and has grown highly since then. Plus500 is active in more than 30 nations and served more than 200,000 active customers in 2019. Plus500 carried out over 35 million transactions with a worth of over $1,000 billion in one year. The head office of the company can be discovered in Israel, but they have opened a number of extra workplaces in other nations. Do you wish to know more about the Plus500 business? In this short article you will discover whatever you require to know!
Conclusion review 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 application. On Plus500 you can trade at low rates. You likewise have the opportunity to react to altering market conditions by placing orders on both fluctuating costs. Plus500 Trading Platform.
Do you want to discover how Plus500 works? Then instantly open a totally free demo-account by pressing the button below: