Plus500 Review: our experience with this broker – Plus500 Contracts
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument accessibility subject to guidelines), Forex and stocks. In this comprehensive evaluation, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can respond to the current market developments at low rates. Plus500 Contracts.
- At Plus500 you can speculate on rate developments at low rates.
- You can sell an extensive variety 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 start trading from $100. Plus500 Contracts.
- Plus500 does not supply sophisticated software application for expert traders.
- You can not discover extensive analyses within the platform.
- Plus500 customer service is not available by phone.
- On Plus500 you can just sell CFDs.
Would you like to try the possibilities at Plus500 with a demonstration entirely free of charge and without danger? Use the button below to open a demo account with this broker:
We discuss the following subjects in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you transfer and withdraw cash?
- Expenses: how much does trading expense on Plus500?
- Functionalities: what are the possibilities of the software?
- Trading alternatives: in what securities you trade on Plus500?
- Support: what support do you receive when trading?
- Costumer service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker reliable? (dependability).
- Details: more info about Plus500 (details).
- Conclusion: the verdict of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you should first check out the Plus500 website. Click on this link * to open the Plus500 website. To create a totally free demo 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 actually left this info, you can immediately start trading. Plus500 Contracts.
Plus500 accepts consumers from many countries. However, there are also nationalities that are not confessed to Plus500. Traders from for example, 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 review, we therefore offer Plus500 a favorable ranking for opening an account. Plus500 Contracts.
Deposit & withdraw money
When you have become 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 transfer money into your account by using among these methods:
- Bank transfer.
Before your deposit can be processed, you should verify your identity. Plus500 should adhere to legislation and can just receive verified consumers. By verifying new customers, Plus500 avoids costumers from utilizing 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 confirming the identity of your account, you do not need to do it once again. The length of this process depends on your individual situation and can be different for each customer.
You can withdraw the money into your account at any time. You can do this by moving the money to your savings account or PayPal account. The transfer is made rapidly and the money will be in your account within a few days. Plus500 Contracts.
On Plus500 there are no additional costs for depositing and withdrawing cash. This is a huge benefit of the broker Plus500: numerous other brokers charge a little charge for withdrawing cash. Traders can make the most of approximately 5 free withdrawals a month, after which a charge will be sustained.
Review of the costs of Plus500
When you start trading with Plus500, you clearly do not want a big part of your money to be lost to high transaction costs. In this part of the review, we take a detailed look at the fees of trading with Plus500. 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 between the buy and sell cost of a CFD. Plus500 provides two spread systems for its instruments: Dynamic spread which is continuously adjusted according to the market spread out during the period a position is open vs. a Spread which does not generally change in line with general market fluctuations while a position is open, but when the market is unstable and illiquid, may change to a new level so that the underlying market conditions are much better shown. Nevertheless, Plus500 aims to offer the tightest possible spreads at all times. Plus500 Contracts.
Forex costs on Plus500
On Plus500 you can trade in 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 drawn out these information on the 2th of June 14:00.).
Cryptocurrency costs on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade against 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 therefore fairly helpful at Plus500. (We have actually drawn out these information on the 2th of June 14:00.).
Share expenses 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 relates to 0.12% of the overall value. Trading CFD Tesla shares is for that reason 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. Due to the fact that you can trade on margin, you do not have 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 overnight financing buy and the overnight funding sell expenses. In some cases, you really get a premium for brief positions. We compared Plus500 with other celebrations for this evaluation and the funding expenses were reasonably low. Still, it is essential to keep in mind that Plus500 is not extremely suitable for long-lasting trading because of the funding costs you need to pay every day. Plus500 Contracts.
Other expenses on Plus500
We have extensively examined the costs for this evaluation, and we have not discovered any irritating covert expenses. Nevertheless, you need to guarantee that you visit to the platform at least as soon as every three months. If you do not do this, costs for inactivity will be charged. This is the case with a lot of brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? It is sensible to withdraw the money from your account.
You can inspect all Charges here:
Plus500 is mainly 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. Plus500 Contracts.
The following extra costs might be used:
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 financing time and the daily overnight funding portion can be discovered in the “Details” link next to the instrument’s name on the primary screen of the platform.
Currency Conversion Cost – Plus500 will charge a Currency Conversion Charge 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 web profit and loss and reflected in real time into the unrealised net revenue and loss of an employment opportunity.
Lack of exercise Fee – A charge of approximately USD 10 monthly will be levied, should you not visit to your trading account for a duration of a minimum of three months. This fee 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 fee will be equal to the lesser of the remaining offered balance in your account or USD 10 (or equivalent depending upon your currency). This is to offset the expense incurred in making the service readily available, despite the fact that it has not been used. Nevertheless, please note that the fee is only gathered from the Real Cash account and just 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 sufficient activity to prevent a fee from being charged.
Surefire Stop Order – if you pick this feature, please note that as it guarantees that your position (trade) closes at a particular asked for rate (rate), the trade undergoes a broader spread.
Conclusion Plus500 charges
The costs 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 post about the costs on Plus500, we take a closer take a look at the different costs you pay when you trade with Plus500.
Software & possibilities
When you begin trading, we understand that you obviously also wish to utilize a good software package. With Plus500 trading is generally done through the online WebTrader. An excellent benefit of the WebTrader is the accessibility: 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 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 browse wish for purchase & sell buttons on Plus500. Plus500 Contracts.
Opening a trade
Opening a trade with Plus500 is rather simple. It is necessary to remember that with Plus500 you constantly trade in CFDs. With Plus500 you never straight 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 2 choices. You can buy the CFD or you can go short on the CFD. When you buy the CFD you get a favorable result with a rising rate and when you offer the CFD you get a favorable result with a falling price. Because you utilize utilize there is a high threat of losing money rapidly due to leverage.
The choice to speculate on a declining price is a major benefit within the Plus500 platform. The choice to short sell increases your flexibility and makes it possible to respond to various market situations.
Type of orders
With Plus500 you can right away open an order. When you push purchase or sell you will see the screen below:
In the order screen you can enter the quantity you wish to trade with. You likewise have the choice to immediately open or close the position after a specific cost has actually been reached. This makes it possible to protect you trades when you need to go out. Plus500 Contracts.
It is likewise possible to place 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 attain even better trading outcomes.
Take advantage of
With Plus500 you have the alternative to use an utilize. With a lever you can take a bigger position with the exact same quantity of cash. Both your potential revenue and your possible loss increase when you apply leverage. With each security you can immediately see what the maximum leverage is that you can apply.
The presence of a leverage is a benefit in the review of Plus500. You can always choose to invest with smaller sized quantities if you want to lower your risk.
On Plus500 you can likewise trade with the mobile application they provide. The mobile application is less comprehensive than the WebTrader. You can carry out less comprehensive analyses with it. However, it works to also install the mobile application. With the app you can get cautions when the rate of a security reaches a particular value.
The mobile application is extremely easy to use and it is great to adjust your orders when market conditions alter substantially. The mobile application is for that reason a strong point in our review of the Plus500 platform.
Trading alternatives at Plus500
In this part of the review 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 hypothesize on rate changes in currency sets. You can for example place a trade on the advancement of the euro against the dollar.
On Plus500 you can likewise sell a substantial range of CFD shares. The shares are nicely arranged by country, so you can rapidly find a share to trade.
It’s likewise possible to trade in commodities by utilizing CFDs. The most popular commodity for trading is oil. You can frequently apply a maximum utilize of up to 1:20 to investments in raw materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can also sell CFDs on options. Choices frequently move highly: a choice can sometimes rise or fall in value by tens of percent. With CFDs you can apply a leverage of as much as 1:20 to alternatives, which further increases your possible gains or losses.
Indices or ETFs
On Plus500 you can likewise sell CFDs on widely 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 well-known cryptocurrencies. Cryptocurrencies are extremely unstable and it can therefore be interesting to actively hypothesize on their rate developments. Among the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument accessibility subject to regulations”). Plus500 Contracts.
Conclusion on the trading alternatives at Plus500
Plus500 has a wide variety of tradable CFD securities. Even reasonably unknown local stocks can often 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.
Support & research
In this part of the evaluation, we investigate how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the graphs. Within the software application you can use various drawing options. You can draw horizontal levels to show price levels where the marketplace often relocates the opposing instructions.
You can likewise add technical indications on the chart. The variety of technical signs at Plus500 is huge. You can choose from more than 100 different options. It is smart to use technical indications. By using technical indications, you can perform much better analyses.
The technical analysis alternatives within the Plus500 software application are extensive. It is troublesome that you can not save numerous charts. This means that you have to duplicate the analyzes routinely. Professional financiers would need to download other programs to perform more complex analyses.
Research and education
In this evaluation we can be fast about the possibilities of research study and education: at Plus500 these alternatives are completely missing out on. There are no courses or webinars readily available at Plus500. This is a drawback for individuals who join Plus500 to find out how to trade much better.
It is useful that you get an alert within the Plus500 software when interesting advancements happen. When the cost of, for example, oil falls sharply, you will receive an alert of this occasion. You can then decide on your own whether you want to take a position on the marketplace advancement. Plus500 Contracts.
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 fundamental information is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has an extensive and quick customer care that is offered in more than 30 languages. Your issues can be fixed quickly in your language.
It is recommended to get in touch with client service 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 immediately.
It is also possible to email Plus500. Mails are often answered within a day. It is a pity that no phone number is readily available. This makes it difficult to speak straight to somebody. Due to the fast processing time, Plus500 still ratings adequately in terms of customer care. Plus500 Contracts.
Security & dependability
Prior to you deposit money with a business, you naturally need to know that it is entirely safe to do so. In this part of the evaluation, we look at how trustworthy Plus500 is.
Supervisors guarantee that brokers follow the guidelines. Plus500 is monitored by:
- Plus500UK Ltd authorized & regulated 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; licensed monetary supplier in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you enjoy additional defense if Plus500 declares bankruptcy. 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 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 speculate with clients’ cash. All funds are saved in a separate checking account, which means that this cash is safe and secure when unanticipated things occur with Plus500. And lastly, on Plus500 you are protected against a negative balance, since he Negative balance protection is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never ever be left with a residual financial obligation. Plus500 Contracts.
Plus500 is 100% no rip-off. Plus500 securely manages client properties. The company is also supervised. Plus500 has been around given that 2008 and is even noted on the London stock exchange. These are all great indications that Plus500 is reputable and we have actually pertained to that conclusion ourselves.
About the company
Plus500 was founded in 2008 and has actually grown highly ever since. 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 headquarters of the business can be found in Israel, but they have opened numerous additional offices in other countries. Do you would like to know more about the Plus500 business? In this article you will find whatever you require to understand!
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. On Plus500 you can trade at low rates. You also have the opportunity to react to altering market conditions by placing orders on both rising and falling rates. Plus500 Contracts.
Do you wish to find how Plus500 works? Right away open a totally free demo-account by pressing 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