Plus500 Evaluation: our experience with this broker – Is Plus500 A Good Trading Platform
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to guidelines), Forex and stocks. In this comprehensive review, we share our experiences with this broker. In our test, Plus500 emerged as an user-friendly broker where you can respond to the latest market developments at low rates. Is Plus500 A Good Trading Platform.
Is Plus500 A Good Trading Platform
- At Plus500 you can speculate on price developments at low rates.
- You can sell a comprehensive variety of CFD shares.
- It is possible to try Plus500 for free with a demo.
- On Plus500 you can use the user-friendly web trader.
- Plus500 offers its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Is Plus500 A Good Trading Platform.
- Plus500 does not supply sophisticated software application for professional traders.
- You can not find extensive analyses within the platform.
- Plus500 customer care is not available by phone.
- On Plus500 you can just sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demo entirely free of charge and without danger? Utilize the button below to open a demonstration account with this broker:
Is Plus500 A Good Trading Platform
We discuss the following subjects in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw money?
- Expenses: how much does trading expense on Plus500?
- Performances: what are the possibilities of the software?
- Trading options: in what securities you trade on Plus500?
- Support: what support do you get when trading?
- Customer service: what is the quality of the costumer service? (costumer-service).
- Dependability: Is this broker reliable? (reliability).
- Information: more information about Plus500 (information).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you need to initially go to the Plus500 website. Click on this link * to open the Plus500 site. To develop a 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 left this information, you can immediately start trading. Is Plus500 A Good Trading Platform.
Plus500 accepts clients from a lot of countries. There are also citizenships that are not admitted to Plus500. Traders from for instance, 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 evaluation, we for that reason give Plus500 a favorable rating for opening an account. Is Plus500 A Good Trading Platform.
Deposit & withdraw money
When you have ended up being acquainted with the Plus500 platform, you can switch to a genuine cash account at any time. The minimum deposit at Plus500 is $100. You can deposit money into your account by using one of these techniques:
- Bank transfer.
Prior to your deposit can be processed, you must verify your identity. Plus500 should adhere to legislation and can only get confirmed consumers. By verifying new clients, Plus500 prevents customers from utilizing the represent cash laundering.
We have actually gone through the entire process and submitted the required documents. Our account was authorized and launched by Plus500 within an hour. After confirming the identity of your account, you don’t have to do it once again. The length of this procedure depends on your personal 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 cash to your checking account or PayPal account. The transfer is made rapidly and the cash will remain in your account within a couple of days. Is Plus500 A Good Trading Platform.
On Plus500 there are no additional expenses for depositing and withdrawing money. This is a big advantage of the broker Plus500: numerous other brokers charge a little charge for withdrawing money. Traders can take advantage of as much as 5 free withdrawals a month, after which a fee will be sustained.
Is Plus500 A Good Trading Platform
Review of the costs of Plus500
When you start trading with Plus500, you obviously do not want a big part of your money to be lost to high deal expenses. In this part of the evaluation, we take a comprehensive look at the costs of trading with Plus500. Below we briefly examine which costs Plus500 passes on to its customers.
With Plus500 you pay a spread over every deal. The spread is the difference in between the buy and sell rate of a CFD. Plus500 offers 2 spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread out during the duration a position is open vs. a Spread which does not typically alter in line with general market variations while a position is open, but when the market is volatile and illiquid, might alter to a new level so that the underlying market conditions are much better reflected. However, Plus500 intends to offer the tightest possible spreads at all times. Is Plus500 A Good Trading Platform.
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 companies 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 costs on Plus500
On Plus500 you can also trade in cryptocurrencies such as Bitcoin. In our review 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 composing while at eToro you pay more than $50 per contract. Trading cryptocurrencies is for that reason reasonably useful at Plus500. (We have actually drawn out these data on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can likewise sell 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 overall worth. 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.).
Financing expenses at Plus500
With Plus500 you have the choice to trade on margin. Due to the fact that you can trade on margin, you do not need to put in the full amount 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 funding offer costs. In some cases, you really get a premium for short positions. We compared Plus500 with other celebrations for this evaluation and the funding costs were fairly low. Still, it is important to bear in mind that Plus500 is not very appropriate for long-lasting trading because of the funding charges you need to pay daily. Is Plus500 A Good Trading Platform.
Other costs on Plus500
We have actually extensively examined the costs for this review, and we have actually not found any bothersome covert expenses. Nevertheless, you should ensure that you visit to the platform a minimum of when every three months. If you do not do this, costs for lack of exercise will be charged. This holds true with many brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? Then it is wise to withdraw the money from your account.
You can check all Fees 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 implies a market spread of 0.6 pips, in this example). Unlike other provider who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Is Plus500 A Good Trading Platform.
The following additional charges may be used:
Overnight Financing – The over night financing amount is either added to or subtracted from your account when holding a position after a certain time (the “Overnight Financing Time”).
The overnight funding time and the everyday over night financing percentage 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 different to the currency of your account.
The Currency Conversion Fee will presently be up to 0.7% of the trade’s realised internet revenue and loss and reflected in real time into the unrealised net profit and loss of an employment opportunity.
Inactivity Fee – A charge of up to USD 10 per month will be levied, should you not log in to your trading represent a duration of a minimum of 3 months. This fee 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 lesser of the staying readily available balance in your account or USD 10 (or comparable depending on your currency). This is to offset the cost incurred in making the service readily available, although it has not been used. Nevertheless, please note that the charge is only collected from the Genuine Cash account and only when there are sufficient offered funds in the account. In order to avoid this fee, just log into your trading account from time to time, as this is deemed sufficient activity to prevent a fee from being charged.
Surefire Stop Order – if you choose this function, please note that as it guarantees that your position (trade) closes at a specific requested rate (rate), the trade undergoes a wider spread.
Conclusion Plus500 charges
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 look at the various costs you pay when you trade with Plus500.
Is Plus500 A Good Trading Platform
Software & possibilities
When you start trading, we understand that you of course also wish to use a great software package. With Plus500 trading is generally done by means of the online WebTrader. A great advantage of the WebTrader is the ease of access: you can log in to the platform at any time and from any location to open or close a position.
What stood out in our evaluation 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 consumers will therefore not need to browse wish for purchase & offer buttons on Plus500. Is Plus500 A Good Trading Platform.
Opening a trade
Opening a trade with Plus500 is rather simple. It is necessary to remember that with Plus500 you constantly sell CFDs. With Plus500 you never ever directly sell a share. The only thing that identifies your outcome is the distinction between the cost 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 favorable outcome with a rising rate and when you offer the CFD you get a favorable outcome with a falling price. Since you utilize utilize there is a high risk of losing cash quickly due to leverage.
The alternative to speculate on a declining price is a major advantage within the Plus500 platform. The choice to short sell increases your flexibility and makes it possible to react to various market circumstances.
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 enter the amount you wish to trade with. You likewise have the choice to immediately 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. Is Plus500 A Good Trading Platform.
It is likewise possible to position an order with Plus500. You do this by getting in a rate at which you instantly open the CFD position. By utilizing orders, you can attain even better trading outcomes.
Take advantage of
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 quantity of money. Both your prospective profit and your possible loss increase when you use leverage. With each security you can instantly see what the maximum take advantage of is that you can use.
The existence of a leverage is a benefit in the evaluation of Plus500. You can always decide to invest with smaller sized amounts if you wish to decrease your threat.
On Plus500 you can likewise trade with the mobile application they provide. The mobile application is less substantial than the WebTrader. You can carry out less comprehensive analyses with it. Nevertheless, it works to likewise set up the mobile application. With the app you can get warnings when the cost of a security reaches a specific worth.
The mobile application is extremely easy to use and it is great to change your orders when market conditions change substantially. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
Is Plus500 A Good Trading Platform
Trading options at Plus500
In this part of the evaluation we will discuss the various types of securities you can sell with Plus500.
With Plus500 you can trade in CFDs on Forex. When you trade in Forex, you hypothesize on price 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 variety of CFD shares. The shares are nicely sorted by nation, so you can quickly discover a share to trade.
It’s also possible to sell products by utilizing CFDs. The most popular product for trading is oil. You can often use an optimum utilize of up to 1:20 to financial investments in raw materials. When you sell gold you can use an utilize of 1:20.
On Plus500 you can likewise trade in CFDs on alternatives. Options typically move strongly: a choice can often increase or fall in value by tens of percent. With CFDs you can apply a leverage of up to 1:20 to choices, which even more increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on well-known indexes or ETFs. You can for instance trade in the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most famous cryptocurrencies. Cryptocurrencies are very unstable and it can therefore be interesting to actively hypothesize on their price developments. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to guidelines”). Is Plus500 A Good Trading Platform.
Conclusion on the trading options at Plus500
Plus500 has a large range of tradable CFD securities. Even reasonably unknown local stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an attractive broker for investors from all countries. My experience with Plus50 has actually therefore been very 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 use different drawing choices. You can draw horizontal levels to suggest price levels where the market typically moves in the opposing instructions.
You can also add technical indications on the chart. The variety of technical indicators at Plus500 is huge. You can choose from more than 100 different options. It is smart to utilize technical signs. By using technical indications, you can perform better analyses.
The technical analysis alternatives within the Plus500 software application are substantial. It is bothersome that you can not save numerous graphs. This means that you need to repeat the evaluates frequently. Professional investors would have to download other programs to perform 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 choices are totally missing out on. There are no courses or webinars available at Plus500. This is a downside for people who sign up with Plus500 to discover how to trade better.
It is useful that you get a notification within the Plus500 software application when interesting advancements happen. When the rate of, for instance, oil falls sharply, you will receive a notice of this occasion. You can then decide on your own whether you wish to take a position on the marketplace advancement. Is Plus500 A Good Trading Platform.
Within the Plus500 software application you can likewise see how other users trade in a security. By looking at the positions other traders take, you can see whether there are more purchasers or sellers. Other fundamental data is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.
Plus500 has a thorough and quick client service that is readily available in more than 30 languages. Your problems can be resolved quickly in your language.
It is recommended to get in touch with client service via live chat. You can utilize the live chat button within the Plus500 WebTrader. By using the live chat, your problems can be resolved nearly instantly.
It is likewise possible to email Plus500. Mails are typically addressed within a day. It is a pity that no telephone number is offered. This makes it impossible to speak straight to someone. Due to the fast processing time, Plus500 still ratings sufficiently in regards to customer support. Is Plus500 A Good Trading Platform.
Security & dependability
Before you deposit money with a business, you naturally wish to know that it is totally safe to do so. In this part of the evaluation, we take a look at how reliable Plus500 is.
Supervisors guarantee that brokers follow the guidelines. Plus500 is supervised by:
- Plus500UK Ltd licensed & controlled by the FCA (# 509909).
- Plus500CY Ltd licensed & controlled by the CySEC (# 250/14).
- Plus500SG Pte Ltd, accredited 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; licensed financial supplier in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you take pleasure in extra protection if Plus500 declares bankruptcy. This is done through a so-called financier defense fund. All client funds are kept in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set a number of additional rules to make sure that your money is as safe and secure as possible on Plus500. Listed below you can discover an overview of these measurements:
Plus500 will never hypothesize with clients’ cash. All funds are kept in a separate savings account, which suggests that this cash is protected when unanticipated things occur with Plus500. And finally, on Plus500 you are safeguarded versus an unfavorable 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 recurring debt. Is Plus500 A Good Trading Platform.
Plus500 is 100% no scam. Plus500 securely handles consumer properties. The business is likewise monitored. Plus500 has actually been around because 2008 and is even listed on the London stock exchange. These are all great indicators that Plus500 is trustworthy and we have pertained to that conclusion ourselves.
Is Plus500 A Good Trading Platform
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 clients in 2019. Plus500 performed over 35 million transactions with a value of over $1,000 billion in one year. The head office of the company can be found in Israel, but they have opened numerous additional offices in other nations. Do you would like to know more about the Plus500 business? In this article you will find whatever you need 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 utilizing the user-friendly software. On Plus500 you can trade at low rates. You also have the opportunity to react to changing market conditions by placing orders on both rising and falling costs. Is Plus500 A Good Trading Platform.
Do you want to discover how Plus500 works? Then immediately open a complimentary demo-account by pushing the button listed 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