Plus500 Evaluation: our experience with this broker – How To Use Plus500 App For Beginners
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to regulations), 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 respond to the most recent market developments at low rates. How To Use Plus500 App For Beginners.
How To Use Plus500 App For Beginners
- At Plus500 you can hypothesize on rate advancements at low rates.
- You can sell an extensive series of CFD shares.
- It is possible to attempt Plus500 free of charge with a demo.
- On Plus500 you can use the easy to use web trader.
- Plus500 uses its services in more than 30 various languages.
- On Plus500 you can start trading from $100. How To Use Plus500 App For Beginners.
- Plus500 does not supply advanced software for professional traders.
- You can not find comprehensive analyses within the platform.
- Plus500 customer service is not offered by phone.
- On Plus500 you can just trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demo totally free of charge and without danger? Utilize the button below to open a demo account with this broker:
How To Use Plus500 App For Beginners
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 money?
- Expenses: how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading choices: in what securities you trade on Plus500?
- Assistance: what assistance do you receive when trading?
- Costumer service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker dependable? (reliability).
- Information: more information 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 website. Click on this link * to open the Plus500 website. To create a free demo account, you just need to select an email 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 instantly start trading. How To Use Plus500 App For Beginners.
Plus500 accepts customers from many countries. However, there are likewise citizenships that are not admitted 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 favorable ranking for opening an account. How To Use Plus500 App For Beginners.
Deposit & withdraw money
When you have become familiar with the Plus500 platform, you can change to a genuine cash account at any time. The minimum deposit at Plus500 is $100. You can transfer money into your account by using among these methods:
- Bank transfer.
Before your deposit can be processed, you must confirm your identity. Plus500 must adhere to legislation and can only get validated clients. By confirming brand-new clients, Plus500 avoids costumers from using the account for cash laundering.
We have actually gone through the whole process and submitted the required documents. Our account was approved and released by Plus500 within an hour. After validating the identity of your account, you don’t have to do it once again. The length of this procedure depends on your individual circumstance 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. How To Use Plus500 App For Beginners.
On Plus500 there are no extra expenses for depositing and withdrawing cash. This is a big advantage of the broker Plus500: lots of other brokers charge a little fee for withdrawing money. Traders can take advantage of approximately 5 free withdrawals a month, after which a charge will be incurred.
How To Use Plus500 App For Beginners
Review of the costs of Plus500
When you begin trading with Plus500, you certainly do not want a big part of your money to be lost to high deal costs. In this part of the evaluation, we take an in-depth take a look at the costs of trading with Plus500. Below we quickly take a look at which costs Plus500 hands down to its consumers.
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 mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the market spread out throughout the duration a position is open vs. a Spread which does not usually alter in line with basic market fluctuations while a position is open, however when the market is unpredictable and illiquid, might change to a brand-new level so that the underlying market conditions are much better shown. Plus500 intends to offer the tightest possible spreads at all times. How To Use Plus500 App For Beginners.
Forex expenses on Plus500
On Plus500 you can sell different currency sets. At the time of writing, 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 data on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade versus relatively 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 contract. Trading cryptocurrencies is for that reason relatively helpful at Plus500. (We have extracted these data on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can likewise trade in shares by utilizing 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 value. Trading CFD Tesla shares is therefore 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 alternative to trade on margin. Due to the fact that you can trade on margin, you do not need to put in the total of the trading position yourself. However, you do need to pay a premium for this.
With each security you will see the overnight funding buy and the overnight funding sell expenses. In some cases, you really receive a premium for brief positions. We compared Plus500 with other celebrations for this evaluation and the financing expenses were relatively low. Still, it is important to bear in mind that Plus500 is not very suitable for long-lasting trading because of the funding charges you need to pay daily. How To Use Plus500 App For Beginners.
Other costs on Plus500
We have thoroughly investigated the costs for this review, and we have actually not discovered any annoying surprise expenses. However, you need to make sure that you visit to the platform a minimum of when every 3 months. If you do not do this, expenses 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 a good idea to withdraw the cash from your account.
You can examine all Charges here:
Plus500 is generally made up for its services through the “market spread”. For instance, 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. How To Use Plus500 App For Beginners.
However, the following additional fees might be applied:
Overnight Financing – The over night financing amount is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The over night funding time and the day-to-day over night funding portion can be discovered in the “Particulars” link next to 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 Cost will presently be up to 0.7% of the trade’s realised net revenue and loss and reflected in real time into the unrealised net revenue and loss of an open position.
Inactivity Cost – A fee of approximately USD 10 each month will be levied, ought to you not visit to your trading account for a period of at least three months. This cost will be charged as soon as a month from that moment onwards, as long as no login is made to the account. The lack of exercise cost will be equal to the lower of the staying readily available balance in your account or USD 10 (or comparable depending on your currency). This is to balance out the expense incurred in making the service readily available, even though it has actually not been utilized. Please note that the fee is only gathered from the Real Cash account and just 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 enough activity to prevent a fee from being charged.
Surefire Stop Order – if you choose this function, please note that as it ensures that your position (trade) closes at a specific asked for rate (cost), the trade undergoes a broader 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 article about the costs on Plus500, we take a closer take a look at the numerous costs you pay when you trade with Plus500.
How To Use Plus500 App For Beginners
Software application & possibilities
When you begin trading, we understand that you naturally also want to utilize an excellent software package. With Plus500 trading is generally done via the online WebTrader. A terrific advantage 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 stuck out in our evaluation 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 therefore not have to search wish for purchase & offer buttons on Plus500. How To Use Plus500 App For Beginners.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is essential to bear in mind that with Plus500 you always trade in CFDs. With Plus500 you never directly sell a share. The only thing that determines your result is the difference 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 buy the CFD you get a positive outcome with an increasing rate and when you offer the CFD you get a positive result with a falling cost. Because you utilize leverage there is a high threat of losing money rapidly due to utilize.
The alternative to hypothesize on a declining cost is a major benefit within the Plus500 platform. The option to short sell increases your versatility and makes it possible to react to different market circumstances.
Kind of orders
With Plus500 you can right away open an order. When you press buy or offer you will see the screen listed below:
In the order screen you can enter the quantity you want to trade with. You likewise have the choice to immediately open or close the position after a specific rate has been reached. This makes it possible to secure you trades when you need to go out. How To Use Plus500 App For Beginners.
It is also possible to position an order with Plus500. You do this by entering a rate at which you automatically open the CFD position. By using orders, you can attain even much better trading outcomes.
With Plus500 you have the option to apply a leverage. With a lever you can take a bigger position with the very same quantity of money. Both your prospective revenue and your prospective loss increase when you apply take advantage of. With each security you can instantly see what the maximum leverage is that you can apply.
The existence of an utilize is an advantage in the review of Plus500. You can constantly decide to invest with smaller quantities if you wish to reduce your risk.
On Plus500 you can also trade with the mobile application they offer. The mobile application is less extensive than the WebTrader. You can carry out less extensive analyses with it. It is useful to also set up the mobile application. With the app you can receive warnings when the cost of a security reaches a certain value.
The mobile application is extremely user-friendly and it is good to adjust your orders when market conditions change significantly. The mobile application is for that reason a strength in our evaluation of the Plus500 platform.
How To Use Plus500 App For Beginners
Trading choices at Plus500
In this part of the evaluation we will go over the various kinds 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 advancement of the euro versus the dollar.
On Plus500 you can likewise sell an extensive range of CFD shares. The shares are neatly sorted by country, so you can quickly discover a share to trade.
It’s likewise possible to sell products by utilizing CFDs. The most popular product for trading is oil. You can often use a maximum utilize of as much as 1:20 to financial investments in raw materials. When you trade in gold you can use a leverage of 1:20.
On Plus500 you can also sell CFDs on options. Options frequently move highly: an alternative can often increase or fall in value by 10s of percent. With CFDs you can apply a leverage of as much as 1:20 to alternatives, which further increases your potential gains or losses.
Indices or ETFs
On Plus500 you can likewise sell CFDs on well-known indexes or ETFs. You can for example sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most famous cryptocurrencies. Cryptocurrencies are extremely volatile and it can therefore be interesting to actively speculate on their price developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to policies”). How To Use Plus500 App For Beginners.
Conclusion on the trading choices at Plus500
Plus500 has a large range of tradable CFD securities. Even fairly unknown regional stocks can often be discovered 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 study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the graphs. Within the software application you can utilize various illustration choices. You can draw horizontal levels to indicate price levels where the marketplace typically moves in the opposing instructions.
You can also include technical indications on the chart. The series of technical signs at Plus500 is enormous. You can choose from more than 100 various alternatives. It is wise to use technical signs. By utilizing technical indications, you can perform better analyses.
The technical analysis options within the Plus500 software application are extensive. Nevertheless, it is troublesome that you can not save several graphs. This suggests that you have to duplicate the examines frequently. Professional investors would need to download other programs to carry out more complex analyses.
Research study and education
In this evaluation we can be fast about the possibilities of research and education: at Plus500 these alternatives are completely missing. There are no courses or webinars available at Plus500. This is a drawback for people who join Plus500 to discover how to trade better.
It is useful that you receive a notice within the Plus500 software when intriguing developments occur. When the cost 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 development. How To Use Plus500 App For Beginners.
Within the Plus500 software application 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 essential information is missing out on with Plus500 platform. Plus500 does not score well in the field of research study and education in our opinion.
Plus500 has an extensive and quick customer care that is readily available in more than 30 languages. Your problems can be fixed quickly in your language.
It is advised to get in touch with customer support through live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved practically instantly.
It is likewise possible to email Plus500. Mails are often addressed within a day. It is a pity that no telephone 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 To Use Plus500 App For Beginners.
Security & dependability
Before you transfer money with a company, you naturally want to know that it is totally safe to do so. In this part of the review, we take a look at how reputable Plus500 is.
Supervisors make sure that brokers abide by the rules. Plus500 is monitored by:
- Plus500UK Ltd licensed & regulated by the FCA (# 509909).
- Plus500CY Ltd authorized & regulated 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 monetary company in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you enjoy extra defense if Plus500 goes bankrupt. This is done through a so-called financier defense 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 likewise set a number of additional guidelines to ensure that your money is as protected as possible on Plus500. 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 means that this cash is safe 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 defense is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never ever be left with a residual debt. How To Use Plus500 App For Beginners.
Plus500 is 100% no rip-off. Plus500 safely manages consumer properties. The business is likewise monitored. Plus500 has actually been around because 2008 and is even noted on the London stock exchange. These are all great indications that Plus500 is reliable and we have actually come to that conclusion ourselves.
How To Use Plus500 App For Beginners
About the business
Plus500 was founded in 2008 and has grown highly ever since. Plus500 is active in more than 30 countries and served more than 200,000 active customers in 2019. Plus500 executed over 35 million transactions with a value of over $1,000 billion in one year. The headquarters of the company can be found in Israel, but they have opened a number of extra offices in other nations. Do you need to know more about the Plus500 business? In this article you will find whatever you require to understand!
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. On Plus500 you can trade at low rates. You likewise have the opportunity to respond to altering market conditions by placing orders on both rising and falling rates. How To Use Plus500 App For Beginners.
Do you wish to find how Plus500 works? Immediately open a complimentary demo-account by pressing the button listed below: