Plus500 Review: our experience with this broker – Avatrade Vs Etoro Vs Plus500
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument accessibility subject to policies), Forex and stocks. In this extensive review, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can react to the most recent market advancements at low rates. Avatrade Vs Etoro Vs Plus500.
Avatrade Vs Etoro Vs Plus500
- At Plus500 you can hypothesize on cost developments at low rates.
- You can trade in a comprehensive series of CFD shares.
- It is possible to attempt Plus500 free of charge with a demonstration.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 offers its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Avatrade Vs Etoro Vs Plus500.
- Plus500 does not provide advanced software for expert traders.
- You can not discover extensive analyses within the platform.
- Plus500 customer service 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 threat? Use the button below to open a demonstration account with this broker:
Avatrade Vs Etoro Vs Plus500
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 cost on Plus500?
- Performances: 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?
- Customer service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker trustworthy? (reliability).
- Details: more info about Plus500 (details).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you need to initially check out the Plus500 site. Click on this link * to open the Plus500 website. To develop a complimentary demonstration account, you simply need to choose an email address and a password. It is likewise possible to visit with your Facebook or Google account. After you have actually left this information, you can immediately begin trading. Avatrade Vs Etoro Vs Plus500.
Plus500 accepts consumers from most nations. However, there are likewise 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 evaluation, we for that reason give Plus500 a favorable score for opening an account. Avatrade Vs Etoro Vs Plus500.
Deposit & withdraw money
When you have actually become knowledgeable about the Plus500 platform, you can change to a genuine cash account at any time. The minimum deposit at Plus500 is $100. You can deposit cash into your account by using one of these approaches:
- Bank transfer.
Before your deposit can be processed, you must verify your identity. Plus500 must abide by legislation and can only get verified clients. By confirming new customers, Plus500 avoids clients from utilizing the account for cash laundering.
We’ve gone through the entire process and uploaded the needed files. Our account was approved and launched by Plus500 within an hour. After confirming the identity of your account, you do not need to do it again. The length of this procedure depends on your individual scenario and can be different for each client.
You can withdraw the money into your account at any time. You can do this by moving the money to your checking account or PayPal account. The transfer is made quickly and the cash will be in your account within a few days. Avatrade Vs Etoro Vs Plus500.
On Plus500 there are no extra expenses for transferring and withdrawing money. This is a big benefit of the broker Plus500: numerous other brokers charge a little fee for withdrawing cash. Traders can benefit from up to 5 free withdrawals a month, after which a charge will be incurred.
Avatrade Vs Etoro Vs Plus500
Evaluation of the expenses of Plus500
When you start trading with Plus500, you obviously do not want a large part of your money to be lost to high deal expenses. In this part of the review, we take an in-depth look at the costs of trading with Plus500. Listed below we quickly analyze which costs Plus500 passes on to its consumers.
With Plus500 you pay a spread over every transaction. The spread is the difference in between the buy and sell cost of a CFD. Plus500 uses 2 spread systems for its instruments: Dynamic spread which is constantly changed according to the marketplace spread throughout the period a position is open vs. a Spread which does not usually alter in line with basic market changes while a position is open, but when the market is unpredictable and illiquid, may change to a new level so that the underlying market conditions are better reflected. Plus500 aims to provide the tightest possible spreads at all times. Avatrade Vs Etoro Vs Plus500.
Forex expenses on Plus500
On Plus500 you can sell different currency sets. At the time of composing, you are paying 0.6 pips in transaction costs on the pair of EUR/ USD. We compared these expenses with those of other providers and concluded that these expenses are comparable to those of other brokers. (We have actually extracted these information on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can also trade in cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade versus reasonably advantageously fees 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 for that reason reasonably useful at Plus500. (We have extracted these information on the 2th of June 14:00.).
Share costs on Plus500
At Plus500 you can also sell shares by utilizing CFDs. As an example: For the CFD share Tesla you presently pay a spread of $ 0.95, which corresponds to 0.12% of the total worth. Trading CFD Tesla shares is therefore 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 alternative to trade on margin. Because you can trade on margin, you do not need 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 overnight funding offer costs. Sometimes, you really receive a premium for short positions. We compared Plus500 with other parties for this evaluation and the funding costs were fairly low. Still, it is necessary to remember that Plus500 is not really appropriate for long-lasting trading because of the funding costs you need to pay on a daily basis. Avatrade Vs Etoro Vs Plus500.
Other expenses on Plus500
We have thoroughly examined the costs for this review, and we have actually not found any annoying surprise costs. You must guarantee that you log in to the platform at least once every three months. If you do not do this, costs 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? It is smart to withdraw the money from your account.
You can examine 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 means 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. Avatrade Vs Etoro Vs Plus500.
Nevertheless, the following extra charges might be applied:
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 Funding Time”).
The over night funding time and the day-to-day overnight financing portion can be found in the “Particulars” link next to the instrument’s name on the primary screen of the platform.
Currency Conversion Fee – 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 currently depend on 0.7% of the trade’s realised internet profit and loss and shown in real time into the unrealised net revenue and loss of an open position.
Inactivity Cost – A charge of as much as USD 10 monthly will be levied, should you not visit to your trading represent a period of at least three months. This charge will be charged once a month from that moment onwards, as long as no login is made to the account. The lack of exercise fee will be equal to the lesser of the staying available balance in your account or USD 10 (or equivalent depending upon your currency). This is to offset the expense sustained in making the service offered, despite the fact that it has actually not been used. Please note that the charge is only gathered from the Genuine Cash account and only when there are adequate readily available funds in the account. In order to avoid this cost, simply log into your trading account from time to time, as this is considered enough activity to prevent a fee from being charged.
Guaranteed Stop Order – if you choose this feature, please note that as it guarantees that your position (trade) closes at a specific requested rate (cost), the trade undergoes a wider spread.
Conclusion Plus500 fees
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 article about the costs on Plus500, we take a closer look at the various expenses you pay when you trade with Plus500.
Avatrade Vs Etoro Vs Plus500
Software & possibilities
When you start trading, we comprehend that you obviously likewise wish to utilize a great software package. With Plus500 trading is generally done via 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 place to open or close a position.
What stood out in our review was the user-friendliness of Plus500. The platform looks clear and thanks to the search function you can rapidly find the CFD in which you want to trade. New customers will therefore not have to browse wish for buy & sell buttons on Plus500. Avatrade Vs Etoro Vs Plus500.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is essential to bear in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never ever directly trade in a share. The only thing that determines your outcome is the difference between the rate at which you open and close the position.
When you open a position, you have two options. You can purchase the CFD or you can go short on the CFD. When you buy the CFD you get a positive result with a rising cost and when you offer the CFD you get a favorable result with a falling price. Because you use leverage there is a high danger of losing money rapidly due to take advantage of.
The choice to hypothesize on a declining rate is a major advantage within the Plus500 platform. The option to short sell increases your versatility and makes it possible to react to different market situations.
Type of orders
With Plus500 you can right away open an order. When you push purchase or offer 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 instantly open or close the position after a certain cost has actually been reached. This makes it possible to safeguard you trades when you need to go out. Avatrade Vs Etoro Vs Plus500.
It is also possible to put an order with Plus500. You do this by going into a price at which you automatically open the CFD position. By utilizing orders, you can achieve even better trading outcomes.
Take advantage of
With Plus500 you have the option to apply a leverage. With a lever you can take a bigger position with the same amount of cash. Both your possible profit and your possible loss boost when you use utilize. With each security you can immediately see what the maximum leverage is that you can apply.
The existence of an utilize is a benefit in the review of Plus500. You can constantly choose to invest with smaller sized quantities if you wish to decrease your danger.
On Plus500 you can likewise trade with the mobile application they offer. The mobile application is less extensive than the WebTrader. You can carry out less substantial analyses with it. It is beneficial to likewise set up the mobile application. With the app you can get cautions when the cost of a security reaches a particular value.
The mobile application is extremely user-friendly and it is great to adjust your orders when market conditions change significantly. The mobile application is for that reason a strength in our review of the Plus500 platform.
Avatrade Vs Etoro Vs Plus500
Trading alternatives at Plus500
In this part of the review we will talk about the different types of securities you can sell with Plus500.
With Plus500 you can trade in CFDs on Forex. When you trade in Forex, you speculate on rate changes in currency pairs. You can for instance place a trade on the advancement of the euro versus the dollar.
On Plus500 you can also sell an extensive range of CFD shares. The shares are nicely arranged by country, so you can quickly find a share to trade.
It’s also possible to sell products by utilizing CFDs. The most popular commodity for trading is oil. You can often apply a maximum utilize of approximately 1:20 to financial investments in raw materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can likewise sell CFDs on options. Alternatives frequently move highly: an option can in some cases increase or fall in value by tens of percent. With CFDs you can apply a leverage of approximately 1:20 to alternatives, which further increases your potential gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on widely known indexes or ETFs. You can for instance trade in the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most popular cryptocurrencies. Cryptocurrencies are really unstable and it can therefore be interesting to actively speculate on their cost developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to guidelines”). Avatrade Vs Etoro Vs Plus500.
Conclusion on the trading alternatives at Plus500
Plus500 has a large range of tradable CFD securities. Even relatively unidentified local stocks can typically be found on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all countries. My experience with Plus50 has therefore been extremely favorable.
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 various illustration options. You can draw horizontal levels to indicate price levels where the marketplace typically relocates the opposing direction.
You can also add technical signs on the graph. The series of technical indicators at Plus500 is massive. You can choose from more than 100 various options. It is wise to use technical indications. By using technical indications, you can carry out much better analyses.
The technical analysis alternatives within the Plus500 software application are extensive. However, it is troublesome that you can not save multiple charts. This indicates that you have to duplicate the evaluates regularly. Professional financiers would need to download other programs to carry out more complex analyses.
Research and education
In this evaluation we can be quick about the possibilities of research and education: at Plus500 these alternatives are completely missing out on. There are no courses or webinars offered at Plus500. This is a drawback for people who sign up with Plus500 to find out how to trade better.
It is useful that you get an alert within the Plus500 software application when fascinating developments happen. When the cost of, for instance, oil falls sharply, you will get an alert of this occasion. You can then choose for yourself whether you want to take a position on the market advancement. Avatrade Vs Etoro Vs Plus500.
Within the Plus500 software you can also see how other users sell a security. By taking a look at the positions other traders take, you can see whether there are more purchasers or sellers. Other fundamental data is missing out on with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has a comprehensive and quick customer support that is available in more than 30 languages. Your problems can be resolved quickly in your language.
It is advised to contact client service via live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your problems can be fixed nearly right away.
It is also 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 quick processing time, Plus500 still scores adequately in terms of customer care. Avatrade Vs Etoro Vs Plus500.
Security & reliability
Prior to you transfer cash with a company, you naturally wish to know that it is entirely secure to do so. In this part of the evaluation, we look at how dependable Plus500 is.
Supervisors make sure that brokers abide by the rules. Plus500 is supervised by:
- Plus500UK Ltd licensed & managed by the FCA (# 509909).
- Plus500CY Ltd authorized & controlled 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), licensed by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; authorized monetary service provider in South Africa, FSP # 47546.
Security of your deposits
Depending on your nationality, you take pleasure in extra security if Plus500 goes bankrupt. This is done through a so-called financier security fund. All client funds are held in a segregated customer savings account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set several additional guidelines to make sure that your cash is as secure as possible on Plus500. Listed below you can find an overview of these measurements:
Plus500 will never ever hypothesize with customers’ cash. All funds are saved in a separate bank account, which indicates that this money is safe and secure when unexpected things happen with Plus500. And last but not least, on Plus500 you are safeguarded against a negative balance, since he Negative balance security is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never ever be left with a recurring debt. Avatrade Vs Etoro Vs Plus500.
Plus500 is 100% no fraud. Plus500 firmly manages consumer properties. The company is also supervised. Plus500 has been around given that 2008 and is even noted on the London stock market. These are all good indicators that Plus500 is dependable and we have come to that conclusion ourselves.
Avatrade Vs Etoro Vs Plus500
About the business
Plus500 was founded in 2008 and has actually grown highly 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 deals with a value 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 workplaces in other nations. Do you want to know more about the Plus500 business? In this post you will find whatever you require to understand!
Conclusion evaluation Plus500
Plus500 is among the very best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by utilizing the easy to use software. On Plus500 you can trade at low rates. You also have the opportunity to respond to changing market conditions by placing orders on both fluctuating prices. Avatrade Vs Etoro Vs Plus500.
Do you want to find how Plus500 works? Then right away open a complimentary demo-account by pushing the button below:
72% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk of losing your money