Plus500 Review: our experience with this broker – 500 Plus Plus500 Review 2013
Plus500 is an online broker where you can hypothesize 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 react to the most recent market developments at low rates. 500 Plus Plus500 Review 2013.
500 Plus Plus500 Review 2013
- At Plus500 you can speculate on cost developments at low rates.
- You can trade in a substantial range of CFD shares.
- It is possible to try Plus500 totally free with a demonstration.
- On Plus500 you can use the user-friendly web trader.
- Plus500 provides its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. 500 Plus Plus500 Review 2013.
- Plus500 does not supply sophisticated software for expert traders.
- You can not find comprehensive analyses within the platform.
- Plus500 customer support is not offered by phone.
- On Plus500 you can just sell CFDs.
Would you like to try the possibilities at Plus500 with a demo completely free of charge and without danger? Use the button below to open a demonstration account with this broker:
500 Plus Plus500 Review 2013
We talk about the following topics in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you deposit and withdraw money?
- Costs: just how much does trading cost on Plus500?
- Performances: what are the possibilities of the software?
- Trading alternatives: in what securities you trade on Plus500?
- Assistance: what support do you receive when trading?
- Client service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker reliable? (reliability).
- Info: more info about Plus500 (info).
- Conclusion: the verdict of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you should initially visit the Plus500 website. Click on this link * to open the Plus500 site. To produce a complimentary demonstration account, you just need to choose an e-mail address and a password. It is also possible to log in with your Facebook or Google account. After you have actually left this info, you can immediately start trading. 500 Plus Plus500 Review 2013.
Plus500 accepts customers from a lot of countries. However, 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. 500 Plus Plus500 Review 2013.
Deposit & withdraw money
When you have actually 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 transfer money into your account by utilizing one of these methods:
- Bank transfer.
Before your deposit can be processed, you must verify your identity. Plus500 should abide by legislation and can only get confirmed clients. By verifying brand-new costumers, Plus500 prevents clients from using the represent cash laundering.
We have actually gone through the entire procedure and submitted the needed files. Our account was authorized and released by Plus500 within an hour. After verifying the identity of your account, you do not need to do it once again. The length of this process depends upon your personal scenario 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. 500 Plus Plus500 Review 2013.
On Plus500 there are no additional costs for transferring and withdrawing money. This is a huge advantage of the broker Plus500: numerous other brokers charge a small fee for withdrawing cash. Traders can take advantage of up to 5 totally free withdrawals a month, after which a cost will be sustained.
500 Plus Plus500 Review 2013
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 deal costs. In this part of the evaluation, we take a detailed look at the costs of trading with Plus500. Listed below we quickly analyze which costs Plus500 hands down to its customers.
With Plus500 you pay a spread over every deal. The spread is the difference in between the buy and sell price of a CFD. Plus500 offers 2 spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread during the duration a position is open vs. a Spread which does not usually alter in line with general market variations while a position is open, however when the marketplace is volatile and illiquid, may alter to a new level so that the underlying market conditions are much better shown. However, Plus500 aims to supply the tightest possible spreads at all times. 500 Plus Plus500 Review 2013.
Forex costs on Plus500
On Plus500 you can trade in different currency pairs. At the time of writing, you are paying 0.6 pips in transaction charges on the pair of EUR/ USD. We compared these expenses with those of other service providers and concluded that these expenses are comparable to those of other brokers. (We have extracted 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 composing while at eToro you pay more than $50 per contract. Trading cryptocurrencies is therefore fairly advantageous at Plus500. (We have actually extracted these information on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can likewise sell shares by utilizing CFDs. As an example: For the CFD share Tesla you presently pay a spread of $ 0.95, which relates to 0.12% of the total worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please note that this is a photo on April 20, 2020 at 13:00.).
Financing expenses at Plus500
With Plus500 you have the option to trade on margin. Since you can trade on margin, you do not need 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 funding buy and the overnight funding offer costs. In some cases, you actually get a premium for brief positions. We compared Plus500 with other celebrations for this evaluation and the funding expenses were relatively low. Still, it is important to remember that Plus500 is not extremely suitable for long-lasting trading because of the financing fees you have to pay every day. 500 Plus Plus500 Review 2013.
Other expenses on Plus500
We have extensively investigated the expenses for this evaluation, and we have actually not discovered any bothersome covert costs. Nevertheless, you need to make sure that you log in to the platform at least when every three months. If you do not do this, costs for inactivity will be charged. This is the case 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 money from your account.
You can inspect all Fees here:
Plus500 is generally 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 company who also charge commissions on each trade, Plus500 does not charge dealing commissions. 500 Plus Plus500 Review 2013.
The following extra fees may be applied:
Overnight Financing – The over night funding quantity is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The over night financing time and the day-to-day overnight financing portion can be discovered in the “Details” link beside 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 various to the currency of your account.
The Currency Conversion Fee will presently depend on 0.7% of the trade’s understood net profit and loss and reflected in real time into the unrealised net revenue and loss of an open position.
Inactivity Charge – A cost of approximately USD 10 each month will be levied, should you not visit to your trading account for a period of at least 3 months. This cost will be charged as soon as a month from that minute onwards, as long as no login is made to the account. The lack of exercise cost will amount to the lesser of the remaining 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, despite the fact that it has actually not been utilized. However, please note that the cost is just collected from the Real Money account and only when there suffice available funds in the account. In order to avoid this cost, just log into your trading account from time to time, as this is considered enough activity to prevent a charge from being charged.
Surefire Stop Order – if you select this function, please note that as it guarantees that your position (trade) closes at a particular requested rate (cost), the trade goes through a wider 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 short article about the expenses on Plus500, we take a closer take a look at the numerous costs you pay when you trade with Plus500.
500 Plus Plus500 Review 2013
Software application & possibilities
When you start trading, we comprehend that you naturally also wish to utilize a great software package. With Plus500 trading is primarily done through the online WebTrader. A fantastic benefit 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 evaluation 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 customers will therefore not need to browse long for buy & offer buttons on Plus500. 500 Plus Plus500 Review 2013.
Opening a trade
Opening a trade with Plus500 is rather simple. It is important to bear in mind 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 distinction between the rate 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 buy the CFD you get a positive outcome with a rising price and when you sell the CFD you get a favorable outcome with a falling price. Given that you use leverage there is a high risk of losing cash quickly due to take advantage of.
The alternative to hypothesize on a decreasing price is a significant benefit within the Plus500 platform. The option to brief sell increases your flexibility and makes it possible to react to different market circumstances.
Type 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 amount you want to trade with. You also have the alternative to immediately open or close the position after a specific cost has actually been reached. This makes it possible to safeguard you trades when you have to go out. 500 Plus Plus500 Review 2013.
It is likewise possible to put an order with Plus500. You do this by getting in a cost at which you automatically open the CFD position. By using orders, you can achieve even better trading outcomes.
With Plus500 you have the choice to use a take advantage of. With a lever you can take a larger position with the exact same amount of cash. Both your prospective profit and your potential loss boost when you use leverage. With each security you can right away see what the maximum utilize is that you can use.
The presence of an utilize is an advantage in the evaluation of Plus500. You can always decide to invest with smaller sized quantities if you want to reduce your threat.
On Plus500 you can also trade with the mobile application they provide. The mobile application is less substantial than the WebTrader. You can carry out less substantial analyses with it. However, it works to also set up the mobile application. With the app you can receive cautions when the cost of a security reaches a certain worth.
The mobile application is extremely user-friendly and it is good to change your orders when market conditions alter substantially. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
500 Plus Plus500 Review 2013
Trading options at Plus500
In this part of the review we will discuss the different kinds of securities you can sell with Plus500.
With Plus500 you can trade in CFDs on Forex. When you trade in Forex, you hypothesize on rate changes in currency pairs. You can for example place a trade on the development of the euro versus the dollar.
On Plus500 you can likewise sell an extensive range of CFD shares. The shares are neatly sorted by nation, so you can rapidly find a share to trade.
It’s likewise possible to sell commodities by using CFDs. The most popular product for trading is oil. You can frequently use an optimum utilize of up to 1:20 to investments in basic materials. When you sell gold you can use an utilize of 1:20.
On Plus500 you can also sell CFDs on options. Options typically move strongly: a choice can in some cases increase or fall in value by 10s of percent. With CFDs you can use an utilize of up to 1:20 to choices, which even more increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also sell CFDs on well-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 unstable and it can therefore be interesting to actively speculate on their rate developments. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to policies”). 500 Plus Plus500 Review 2013.
Conclusion on the trading alternatives at Plus500
Plus500 has a wide variety of tradable CFD securities. Even relatively unidentified regional stocks can typically be discovered on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all nations. My experience with Plus50 has actually therefore been very positive.
Assistance & research
In this part of the evaluation, we investigate how Plus500 supports traders.
At Plus500 you can perform technical analyses on the charts. Within the software you can utilize different drawing options. You can draw horizontal levels to suggest price levels where the market typically relocates the opposing instructions.
You can also add technical indicators on the chart. The series of technical indicators at Plus500 is huge. You can choose from more than 100 different choices. It is smart to use technical indications. By utilizing technical indicators, you can execute better analyses.
The technical analysis options within the Plus500 software application are comprehensive. It is inconvenient that you can not save several charts. This implies that you have to repeat the examines regularly. Expert financiers would need 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 choices are completely missing. There are no courses or webinars available at Plus500. This is a disadvantage for individuals who join Plus500 to learn how to trade better.
It is useful that you get a notice within the Plus500 software application when intriguing advancements happen. When the price of, for instance, oil falls dramatically, you will receive a notice of this event. You can then choose for yourself whether you want to take a position on the market development. 500 Plus Plus500 Review 2013.
Within the Plus500 software application you can also 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 basic information is missing out on with Plus500 platform. Plus500 does not score well in the field of research study and education in our viewpoint.
Plus500 has an extensive and quick customer support that is readily available in more than 30 languages. Your problems can be solved rapidly in your language.
It is recommended to contact customer support through live chat. You can utilize the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be resolved almost instantly.
It is likewise possible to email Plus500. Mails are typically answered within a day. It is a pity that no telephone number is available. This makes it impossible to speak directly to someone. Due to the fast processing time, Plus500 still ratings adequately in regards to customer care. 500 Plus Plus500 Review 2013.
Security & reliability
Before you transfer money with a business, you naturally wish to know that it is completely secure to do so. In this part of the evaluation, we look at how trustworthy Plus500 is.
Supervisors make sure that brokers abide by the guidelines. Plus500 is monitored by:
- Plus500UK Ltd authorized & controlled 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 monetary supplier in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you delight in extra security if Plus500 goes bankrupt. This is done through a so-called financier defense fund. All customer funds are kept in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set numerous additional guidelines to ensure that your cash is as safe and secure as possible on Plus500. Listed below you can discover an overview of these measurements:
Plus500 will never speculate with customers’ cash. All funds are stored in a separate checking account, which implies that this cash is safe when unforeseen things occur with Plus500. And finally, on Plus500 you are safeguarded versus a negative balance, due to the fact that he Unfavorable balance protection is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted a residual debt. 500 Plus Plus500 Review 2013.
Plus500 is 100% no fraud. Plus500 firmly handles client possessions. The business is also monitored. Plus500 has been around given that 2008 and is even listed on the London stock exchange. These are all great indicators that Plus500 is dependable and we have actually concerned that conclusion ourselves.
500 Plus Plus500 Review 2013
About the business
Plus500 was founded in 2008 and has grown highly since then. Plus500 is active in more than 30 countries and served more than 200,000 active consumers in 2019. Plus500 performed 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, but they have actually opened several additional workplaces in other countries. 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 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 chance to react to changing market conditions by positioning orders on both fluctuating costs. 500 Plus Plus500 Review 2013.
Do you wish to find how Plus500 works? Then right away open a totally free demo-account by pushing the button below: