Plus500 Evaluation: 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 extensive evaluation, we share our experiences with this broker. In our test, Plus500 emerged as an user-friendly broker where you can react to the current market developments at low rates. Robinhood Vs Plus500.
Robinhood Vs Plus500
- At Plus500 you can speculate on cost developments at low rates.
- You can trade in a substantial series of CFD shares.
- It is possible to attempt 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. Robinhood Vs Plus500.
- Plus500 does not supply advanced software application for expert traders.
- You can not discover comprehensive analyses within the platform.
- Plus500 customer support is not offered by phone.
- On Plus500 you can just trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration completely free of charge and without danger? Use the button listed below to open a demo account with this broker:
Robinhood Vs Plus500
We discuss the following topics in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you deposit and withdraw cash?
- Costs: just how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading alternatives: in what securities you trade on Plus500?
- Support: what support do you receive when trading?
- Client service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker reputable? (reliability).
- Details: more details about Plus500 (info).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you must initially visit the Plus500 site. Click on this link * to open the Plus500 website. To produce a totally free demo account, you just have to choose an e-mail address and a password. It is likewise possible to log in with your Facebook or Google account. After you have actually left this information, you can right away start trading. Robinhood Vs Plus500.
Plus500 accepts consumers from most nations. However, there are likewise nationalities that are not admitted to Plus500. Traders from for example, America, Brazil, Belgium and Syria are unable 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 rating for opening an account. Robinhood Vs Plus500.
Deposit & withdraw money
When you have become knowledgeable about the Plus500 platform, you can change to a real 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.
Prior to your deposit can be processed, you should validate your identity. Plus500 must abide by legislation and can just get confirmed customers. By validating new customers, Plus500 avoids customers from using the represent money laundering.
We have actually gone through the whole process and submitted the required documents. Our account was approved and launched by Plus500 within an hour. After verifying the identity of your account, you do not have to do it once again. The length of this process depends on your individual circumstance and can be different for each customer.
You can withdraw the money into your account at any time. You can do this by transferring the money to your bank account or PayPal account. The transfer is made rapidly and the money will remain in your account within a few days. Robinhood Vs Plus500.
On Plus500 there are no extra costs for transferring and withdrawing cash. This is a huge benefit of the broker Plus500: numerous other brokers charge a little cost for withdrawing cash. Traders can benefit from as much as 5 totally free withdrawals a month, after which a charge will be incurred.
Robinhood Vs Plus500
Review of the expenses of Plus500
When you begin trading with Plus500, you clearly do not want a big part of your cash to be lost to high transaction costs. In this part of the review, we take an in-depth take a look at the costs of trading with Plus500. Listed below we quickly examine which costs Plus500 passes on to its clients.
With Plus500 you pay a spread over every transaction. The spread is the difference between the buy and sell price of a CFD. Plus500 provides 2 spread systems for its instruments: Dynamic spread which is continuously changed according to the market spread throughout the period a position is open vs. a Spread which does not generally change in line with basic market variations while a position is open, however when the marketplace is unstable and illiquid, may change to a brand-new level so that the underlying market conditions are much better shown. Nevertheless, Plus500 intends to supply the tightest possible spreads at all times. Robinhood Vs Plus500.
Forex expenses on Plus500
On Plus500 you can trade in different currency pairs. At the time of composing, you are paying 0.6 pips in transaction fees on the pair of EUR/ USD. We compared these costs with those of other suppliers and concluded that these expenses are comparable to those of other brokers. (We have actually 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 review 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 writing while at eToro you pay more than $50 per agreement. Trading cryptocurrencies is therefore reasonably useful at Plus500. (We have extracted these data on the 2th of June 14:00.).
Share costs on Plus500
At Plus500 you can also 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 total value. Trading CFD Tesla shares is therefore possible at a low cost. (Please note that this is a snapshot on April 20, 2020 at 13:00.).
Funding costs at Plus500
With Plus500 you have the option to trade on margin. Due to the fact that you can trade on margin, you do not have 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 overnight financing buy and the over night financing offer costs. In some cases, you really get a premium for brief positions. We compared Plus500 with other parties for this evaluation and the financing expenses were fairly low. Still, it is very important to bear in mind that Plus500 is not really appropriate for long-lasting trading because of the financing costs you need to pay on a daily basis. Robinhood Vs Plus500.
Other expenses on Plus500
We have actually extensively examined the expenses for this evaluation, and we have not found any bothersome surprise costs. Nevertheless, you need to make sure that you log in to the platform a minimum of as soon as every 3 months. If you don’t do this, expenses for lack of exercise will be charged. This is the case with the majority of 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 examine all Fees 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 implies a market spread of 0.6 pips, in this example). Unlike other provider who also charge commissions on each trade, Plus500 does not charge dealing commissions. Robinhood Vs Plus500.
The following additional charges might be used:
Overnight Funding – The overnight funding quantity is either added to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The over night funding time and the day-to-day over night funding percentage can be discovered in the “Details” link beside the instrument’s name on the primary screen of the platform.
Currency Conversion Charge – Plus500 will charge a Currency Conversion Cost 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 earnings and loss of an employment opportunity.
Lack of exercise Cost – A cost of up to USD 10 per month will be imposed, should you not visit 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 cost will be equal to the lesser of the staying offered balance in your account or USD 10 (or equivalent depending on your currency). This is to balance out the cost incurred in making the service available, even though it has not been used. Nevertheless, please note that the charge is only collected from the Genuine Money account and only when there are sufficient available funds in the account. In order to avoid this charge, merely log into your trading account from time to time, as this is deemed adequate activity to prevent a charge from being charged.
Guaranteed Stop Order – if you pick this feature, please note that as it ensures that your position (trade) closes at a particular requested rate (price), the trade is subject to a broader 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 article about the expenses on Plus500, we take a closer look at the various expenses you pay when you trade with Plus500.
Robinhood Vs Plus500
Software & possibilities
When you start trading, we understand that you obviously also wish to utilize an excellent software package. With Plus500 trading is generally done via the online WebTrader. A fantastic advantage of the WebTrader is the ease of access: you can visit to the platform at any time and from any location 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 wish to trade. New customers will for that reason not need to browse wish for buy & sell buttons on Plus500. Robinhood Vs Plus500.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is very important to bear in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never ever directly 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 positive outcome with an increasing price and when you offer the CFD you get a positive result with a falling price. Since you use leverage there is a high danger of losing cash rapidly due to utilize.
The alternative to speculate on a decreasing price is a significant advantage within the Plus500 platform. The option to brief sell increases your flexibility and makes it possible to respond to various market scenarios.
Kind of orders
With Plus500 you can immediately open an order. When you press buy or sell you will see the screen listed below:
In the order screen you can get in the amount you wish to trade with. You likewise have the alternative to automatically open or close the position after a certain cost has actually been reached. This makes it possible to protect you trades when you need to go out. Robinhood Vs Plus500.
It is also possible to place an order with Plus500. You do this by getting in a price at which you instantly open the CFD position. By utilizing orders, you can achieve even much better trading outcomes.
With Plus500 you have the choice to use a leverage. With a lever you can take a bigger position with the very same quantity of money. Both your possible revenue and your prospective loss increase when you use take advantage of. With each security you can instantly see what the optimum take advantage of is that you can use.
The existence of a take advantage of is a benefit in the evaluation of Plus500. You can constantly choose to invest with smaller sized quantities if you want to decrease your threat.
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 comprehensive analyses with it. However, it works to also set up the mobile application. With the app you can receive warnings when the price of a security reaches a certain value.
The mobile application is really easy to use and it is excellent to adjust your orders when market conditions alter considerably. The mobile application is therefore a strength in our evaluation of the Plus500 platform.
Robinhood Vs Plus500
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 trade in CFDs on Forex. When you sell Forex, you speculate on cost changes in currency sets. You can for instance location a trade on the advancement of the euro versus the dollar.
On Plus500 you can also sell an extensive variety of CFD shares. The shares are nicely arranged by nation, so you can rapidly find 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 a maximum leverage of as much as 1:20 to investments in basic materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can also trade in CFDs on options. Choices often move highly: a choice can often increase or fall in worth by 10s of percent. With CFDs you can use a leverage of approximately 1:20 to choices, which even more increases your potential gains or losses.
Indices or ETFs
On Plus500 you can also 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 well-known cryptocurrencies. Cryptocurrencies are very unpredictable 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 accessibility subject to policies”). Robinhood Vs Plus500.
Conclusion on the trading choices at Plus500
Plus500 has a wide variety of tradable CFD securities. Even fairly unidentified regional stocks can typically be found on the Plus500 platform. This makes Plus500 an appealing broker for investors from all nations. My experience with Plus50 has actually for that reason been extremely positive.
Assistance & research
In this part of the evaluation, we investigate how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the charts. Within the software you can use various illustration choices. You can draw horizontal levels to suggest price levels where the market frequently relocates the opposing direction.
You can also add technical indicators on the graph. The range of technical signs at Plus500 is massive. You can choose from more than 100 various choices. It is smart to utilize technical indications. By using technical signs, you can execute better analyses.
The technical analysis alternatives within the Plus500 software are substantial. It is inconvenient that you can not save numerous charts. This means that you have to duplicate 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 quick about the possibilities of research study and education: at Plus500 these choices are totally missing out on. There are no courses or webinars available at Plus500. This is a drawback for individuals who join Plus500 to find out how to trade better.
It works that you receive a notice within the Plus500 software when fascinating developments occur. When the rate of, for instance, oil falls dramatically, you will get an alert of this event. You can then choose on your own whether you wish to take a position on the marketplace development. Robinhood Vs Plus500.
Within the Plus500 software application 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 buyers or sellers. Other basic 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 comprehensive and fast customer service that is available in more than 30 languages. Your problems can be solved quickly in your language.
It is recommended to contact 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 right away.
It is likewise possible to email Plus500. Mails are frequently responded to 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 fast processing time, Plus500 still ratings sufficiently in regards to client service. Robinhood Vs Plus500.
Security & reliability
Prior to you deposit cash with a company, you naturally wish to know that it is completely safe and secure to do so. In this part of the evaluation, we look at how reliable Plus500 is.
Supervisors ensure that brokers stick to the rules. Plus500 is supervised by:
- Plus500UK Ltd licensed & managed by the FCA (# 509909).
- Plus500CY Ltd authorized & 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), accredited by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; authorized financial supplier in South Africa, FSP # 47546.
Security of your deposits
Depending on your citizenship, you take pleasure in extra defense if Plus500 declares bankruptcy. This is done through a so-called financier defense fund. All client funds are kept in a segregated customer bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually likewise set numerous extra guidelines to ensure that your money is as safe and secure as possible on Plus500. Below you can find a summary of these measurements:
Plus500 will never hypothesize with customers’ money. All funds are stored in a separate checking account, which implies that this cash is secure when unforeseen things occur with Plus500. And last but not least, on Plus500 you are safeguarded versus an unfavorable balance, due to the fact that he Unfavorable balance security is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never be left with a recurring financial obligation. Robinhood Vs Plus500.
Plus500 is 100% no scam. Plus500 safely manages consumer possessions. The company is also supervised. Plus500 has actually been around because 2008 and is even noted on the London stock exchange. These are all excellent indicators that Plus500 is trusted and we have pertained to that conclusion ourselves.
Robinhood Vs Plus500
About the business
Plus500 was founded in 2008 and has actually grown strongly ever since. Plus500 is active in more than 30 nations and served more than 200,000 active customers in 2019. Plus500 executed over 35 million transactions 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 opened a number of extra offices in other nations. Do you would like to know more about the Plus500 company? In this short article you will find whatever you require to understand!
Conclusion review Plus500
Plus500 is among the very best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the easy to use 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 rates. Robinhood Vs Plus500.
Do you wish to find how Plus500 works? Instantly open a complimentary demo-account by pressing the button below: