Plus500 Review: our experience with this broker – How Safe Is Plus500
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument accessibility subject to guidelines), Forex and stocks. In this comprehensive review, we share our experiences with this broker. In our test, Plus500 became an easy to use broker where you can react to the latest market advancements at low rates. How Safe Is Plus500.
How Safe Is Plus500
- At Plus500 you can speculate on rate developments at low rates.
- You can trade in a comprehensive range of CFD shares.
- It is possible to try Plus500 for 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 start trading from $100. How Safe Is Plus500.
- Plus500 does not offer advanced software application for expert traders.
- You can not find substantial analyses within the platform.
- Plus500 client service is not offered by phone.
- On Plus500 you can only sell CFDs.
Would you like to attempt 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:
How Safe Is Plus500
We discuss the following topics in the Plus500 evaluation:
- 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?
- Performances: what are the possibilities of the software?
- Trading options: in what securities you trade on Plus500?
- Support: what assistance do you receive when trading?
- Client service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker trusted? (reliability).
- Details: more information about Plus500 (info).
- Conclusion: the verdict of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you must initially go to the Plus500 website. Click on this link * to open the Plus500 site. To develop a complimentary demonstration account, you just have to choose an e-mail address and a password. It is likewise possible to visit with your Facebook or Google account. After you have left this details, you can instantly start trading. How Safe Is Plus500.
Plus500 accepts customers from the majority of countries. Nevertheless, 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 evaluation, we for that reason offer Plus500 a positive rating for opening an account. How Safe Is Plus500.
Deposit & withdraw money
When you have ended up being acquainted with the Plus500 platform, you can change to a real cash 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 need to validate your identity. Plus500 should comply with legislation and can only receive verified consumers. By verifying new customers, Plus500 avoids clients from utilizing the account for money laundering.
We’ve gone through the whole procedure and published the needed documents. Our account was approved and launched by Plus500 within an hour. After validating 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 various for each client.
You can withdraw the cash into your account at any time. You can do this by moving the money to your bank account or PayPal account. The transfer is made rapidly and the cash will remain in your account within a couple of days. How Safe Is Plus500.
On Plus500 there are no extra costs for depositing and withdrawing money. This is a big benefit of the broker Plus500: many other brokers charge a little charge for withdrawing money. Traders can take advantage of up to 5 totally free withdrawals a month, after which a fee will be incurred.
How Safe Is Plus500
Evaluation of the expenses of Plus500
When you begin trading with Plus500, you undoubtedly do not desire a big part of your cash to be lost to high transaction costs. In this part of the evaluation, we take a detailed look at the fees of trading with Plus500. Below we quickly analyze which costs Plus500 hands down to its consumers.
With Plus500 you pay a spread over every deal. The spread is the difference between the buy and sell price of a CFD. Plus500 offers 2 spread systems for its instruments: Dynamic spread which is continuously changed according to the market spread out during the period a position is open vs. a Spread which does not typically change in line with basic market changes while a position is open, but when the market is unstable and illiquid, might change to a new level so that the underlying market conditions are much better reflected. However, Plus500 aims to supply the tightest possible spreads at all times. How Safe Is Plus500.
Forex expenses on Plus500
On Plus500 you can trade in various currency pairs. At the time of writing, you are paying 0.6 pips in transaction fees 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 extracted these information on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can likewise trade in cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade versus fairly 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 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 total value. Trading CFD Tesla shares is for that reason 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 option 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 over night financing offer expenses. In some cases, you really receive a premium for brief positions. We compared Plus500 with other parties for this review and the financing costs were fairly low. Still, it is essential to keep in mind that Plus500 is not really appropriate for long-term trading because of the financing fees you need to pay daily. How Safe Is Plus500.
Other costs on Plus500
We have actually thoroughly examined the costs for this evaluation, and we have not found any frustrating surprise costs. Nevertheless, you should ensure that you visit to the platform at least once every 3 months. If you do not do this, expenses for inactivity will be charged. This holds true 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 money from your account.
You can examine all Costs here:
Plus500 is primarily compensated 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 implies a market spread of 0.6 pips, in this example). Unlike other service providers who also charge commissions on each trade, Plus500 does not charge dealing commissions. How Safe Is Plus500.
However, the following extra fees might be applied:
Overnight Funding – The over night financing amount is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The overnight funding time and the everyday over night financing portion can be discovered in the “Details” link next to the instrument’s name on the primary screen of the platform.
Currency Conversion Fee – Plus500 will charge a Currency Conversion Cost 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 revenue and loss and reflected in real time into the unrealised net earnings and loss of an open position.
Lack of exercise Fee – A cost of as much as USD 10 per month will be levied, ought to you not visit to your trading account for a period of a minimum of three months. This fee will be charged when a month from that minute onwards, as long as no login is made to the account. The inactivity fee will be equal to the lesser of the remaining offered balance in your account or USD 10 (or comparable depending on your currency). This is to balance out the cost sustained in making the service available, although it has actually not been utilized. However, please note that the charge is only gathered from the Real Cash account and only when there suffice 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 cost from being charged.
Surefire Stop Order – if you select this feature, please note that as it ensures that your position (trade) closes at a specific requested rate (rate), the trade undergoes a broader spread.
Conclusion Plus500 costs
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 short article about the costs on Plus500, we take a closer look at the various costs you pay when you trade with Plus500.
How Safe Is Plus500
Software application & possibilities
When you start trading, we understand that you naturally also want to utilize a good software package. With Plus500 trading is generally done through the online WebTrader. A fantastic benefit of the WebTrader is the ease of access: 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 rapidly discover the CFD in which you want to trade. New consumers will for that reason not have to search wish for purchase & offer buttons on Plus500. How Safe Is Plus500.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is essential to keep in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never directly trade in a share. The only thing that identifies your outcome is the distinction in between the cost at which you open and close the position.
When you open a position, you have 2 alternatives. You can purchase the CFD or you can go short on the CFD. When you buy the CFD you get a positive outcome with an increasing price and when you offer the CFD you get a favorable outcome with a falling cost. Because you use utilize there is a high threat of losing cash rapidly due to leverage.
The choice to hypothesize on a declining cost is a major benefit within the Plus500 platform. The option to brief sell increases your flexibility and makes it possible to respond to various market circumstances.
Type of orders
With Plus500 you can right away open an order. When you press buy or sell you will see the screen listed below:
In the order screen you can go into the amount you wish to trade with. You also have the alternative to instantly open or close the position after a particular price has been reached. This makes it possible to secure you trades when you have to go out. How Safe Is Plus500.
It is likewise possible to place an order with Plus500. You do this by going into a rate at which you immediately open the CFD position. By utilizing orders, you can accomplish even better trading results.
Take advantage of
With Plus500 you have the alternative to use a leverage. With a lever you can take a bigger position with the very same quantity of cash. Both your possible earnings and your possible loss increase when you apply utilize. With each security you can right away see what the maximum leverage is that you can use.
The presence of a leverage is an advantage in the evaluation of Plus500. You can constantly choose to invest with smaller sized amounts if you want to decrease your risk.
On Plus500 you can likewise trade with the mobile application they provide. The mobile application is less extensive than the WebTrader. You can perform less substantial analyses with it. It is beneficial to likewise install the mobile application. With the app you can get cautions when the price of a security reaches a specific worth.
The mobile application is very user-friendly and it is good to adjust your orders when market conditions change significantly. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
How Safe Is Plus500
Trading choices at Plus500
In this part of the evaluation we will discuss the different types of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you speculate on price changes in currency sets. You can for example location a trade on the development of the euro against the dollar.
On Plus500 you can also trade in an extensive range of CFD shares. The shares are neatly arranged by country, so you can rapidly find a share to trade.
It’s also possible to trade in commodities by utilizing CFDs. The most popular commodity for trading is oil. You can frequently use a maximum leverage of approximately 1:20 to financial investments in basic materials. When you trade in gold you can use a leverage of 1:20.
On Plus500 you can likewise sell CFDs on alternatives. Alternatives often move highly: an option can often increase or fall in worth by 10s of percent. With CFDs you can use a leverage of approximately 1:20 to options, which further increases your possible gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on well-known 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 popular cryptocurrencies. Cryptocurrencies are really unstable and it can therefore be interesting to actively hypothesize on their cost advancements. One of the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument schedule subject to regulations”). How Safe Is Plus500.
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 countries. My experience with Plus50 has therefore been extremely favorable.
Assistance & research
In this part of the evaluation, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the graphs. Within the software application you can use different illustration choices. You can draw horizontal levels to show price levels where the market often moves in the opposing direction.
You can likewise include technical indicators on the graph. The range of technical indications at Plus500 is massive. You can choose from more than 100 various choices. It is wise to utilize technical indications. By utilizing technical indications, you can perform much better analyses.
The technical analysis choices within the Plus500 software are comprehensive. It is bothersome that you can not conserve multiple graphs. This implies that you have to duplicate the examines regularly. Professional financiers would need to download other programs to carry out more complex analyses.
Research study and education
In this evaluation we can be quick about the possibilities of research study and education: at Plus500 these options are completely missing. There are no courses or webinars readily available at Plus500. This is a disadvantage for individuals who sign up with Plus500 to find out how to trade better.
It works that you get a notice within the Plus500 software when interesting advancements take place. When the cost of, for instance, oil falls dramatically, you will receive a notification of this event. You can then decide for yourself whether you wish to take a position on the market advancement. How Safe Is 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 basic information is missing 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 service that is available in more than 30 languages. Your problems can be resolved rapidly in your language.
It is suggested to contact customer service via live chat. You can use the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be resolved almost right away.
It is also possible to email Plus500. Mails are frequently addressed within a day. It is a pity that no phone number is available. This makes it difficult to speak straight to someone. Due to the fast processing time, Plus500 still scores adequately in terms of customer service. How Safe Is Plus500.
Security & dependability
Prior to you transfer cash with a company, you naturally would like to know that it is totally protected to do so. In this part of the review, we look at how reputable Plus500 is.
Supervisors ensure that brokers comply with the rules. Plus500 is monitored by:
- Plus500UK Ltd authorized & controlled by the FCA (# 509909).
- Plus500CY Ltd authorized & 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), licensed by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; licensed financial company in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you delight in additional protection if Plus500 goes bankrupt. This is done through a so-called investor security 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 extra rules to make sure that your money is as safe as possible on Plus500. Below you can find an overview of these measurements:
Plus500 will never ever speculate with clients’ money. All funds are stored in a separate checking account, which implies that this cash is secure when unforeseen things happen with Plus500. And finally, on Plus500 you are protected against a negative balance, due to the fact that he Negative balance protection is a regulative requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted a recurring debt. How Safe Is Plus500.
Plus500 is 100% no fraud. Plus500 safely handles consumer assets. The business is likewise supervised. Plus500 has been around since 2008 and is even listed on the London stock exchange. These are all good signs that Plus500 is reliable and we have come to that conclusion ourselves.
How Safe Is Plus500
About the company
Plus500 was founded in 2008 and has grown strongly since then. Plus500 is active in more than 30 nations and served more than 200,000 active consumers in 2019. Plus500 carried out over 35 million transactions with a worth of over $1,000 billion in one year. The headquarters of the business can be found in Israel, but they have opened a number of extra offices in other countries. Do you wish to know more about the Plus500 company? In this article you will find whatever you need to know!
Conclusion review Plus500
Plus500 is among the very best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by using the user-friendly software application. On Plus500 you can trade at low rates. You likewise have the chance to respond to changing market conditions by positioning orders on both rising and falling costs. How Safe Is Plus500.
Do you wish to find how Plus500 works? Instantly open a free demo-account by pushing the button listed below: