Plus500 Review: our experience with this broker – Plus500 Desktop Software
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument availability subject to regulations), Forex and stocks. In this substantial review, we share our experiences with this broker. In our test, Plus500 emerged as an easy to use broker where you can react to the current market developments at low rates. Plus500 Desktop Software.
Plus500 Desktop Software
- At Plus500 you can speculate on cost advancements at low rates.
- You can trade in a comprehensive range of CFD shares.
- It is possible to attempt Plus500 totally free with a demonstration.
- 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 begin trading from $100. Plus500 Desktop Software.
- Plus500 does not supply innovative software application for expert traders.
- You can not discover comprehensive analyses within the platform.
- Plus500 customer care is not offered by phone.
- On Plus500 you can only sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration totally free of charge and without risk? Utilize the button below to open a demonstration account with this broker:
Plus500 Desktop Software
We go over the following topics in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you deposit and withdraw cash?
- Expenses: how much does trading expense on Plus500?
- Performances: what are the possibilities of the software?
- Trading choices: in what securities you trade on Plus500?
- Support: what support do you get when trading?
- Costumer service: what is the quality of the costumer service? (costumer-service).
- Dependability: Is this broker reputable? (reliability).
- Details: more information about Plus500 (information).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you need to first check out the Plus500 website. Click on this link * to open the Plus500 website. To create a totally free demo account, you simply have to pick an email address and a password. It is also possible to log in with your Facebook or Google account. After you have left this information, you can right away begin trading. Plus500 Desktop Software.
Plus500 accepts customers from many nations. Nevertheless, there are likewise nationalities 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 therefore give Plus500 a favorable rating for opening an account. Plus500 Desktop Software.
Deposit & withdraw cash
When you have become familiar with the Plus500 platform, you can change to a real money account at any time. The minimum deposit at Plus500 is $100. You can transfer money into your account by utilizing one of these methods:
- Bank transfer.
Prior to your deposit can be processed, you should confirm your identity. Plus500 must adhere to legislation and can only receive verified clients. By validating brand-new costumers, Plus500 avoids clients from utilizing the account for money laundering.
We have actually gone through the whole process and submitted the required files. Our account was authorized and launched by Plus500 within an hour. After confirming the identity of your account, you do not have to do it once again. The length of this process depends upon your individual scenario and can be various for each client.
You can withdraw the money 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 rapidly and the money will remain in your account within a couple of days. Plus500 Desktop Software.
On Plus500 there are no extra costs for transferring and withdrawing money. This is a big advantage of the broker Plus500: lots of other brokers charge a little cost for withdrawing money. Traders can take advantage of approximately 5 free withdrawals a month, after which a cost will be sustained.
Plus500 Desktop Software
Evaluation of the costs of Plus500
When you begin trading with Plus500, you clearly do not desire a big part of your cash to be lost to high transaction expenses. In this part of the evaluation, we take an in-depth take a look at the charges of trading with Plus500. Listed below we briefly analyze which costs Plus500 hands down to its customers.
With Plus500 you pay a spread over every deal. The spread is the difference in between the buy and sell cost of a CFD. Plus500 uses 2 spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread during the duration a position is open vs. a Spread which does not normally alter in line with basic market fluctuations while a position is open, however when the marketplace is volatile and illiquid, may alter to a new level so that the underlying market conditions are much better shown. Nevertheless, Plus500 intends to provide the tightest possible spreads at all times. Plus500 Desktop Software.
Forex expenses on Plus500
On Plus500 you can sell various 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 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 expenses on Plus500
On Plus500 you can likewise trade in cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade against fairly advantageously charges 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 reasonably beneficial at Plus500. (We have drawn out these information on the 2th of June 14:00.).
Share costs 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 corresponds to 0.12% of the overall value. 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.).
Funding costs at Plus500
With Plus500 you have the alternative to trade on margin. Because you can trade on margin, you do not have 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 sell expenses. Sometimes, you actually get a premium for brief positions. We compared Plus500 with other celebrations for this review and the financing costs were relatively low. Still, it is essential to keep in mind that Plus500 is not very ideal for long-lasting trading because of the funding charges you need to pay on a daily basis. Plus500 Desktop Software.
Other expenses on Plus500
We have extensively examined the costs for this evaluation, and we have actually not discovered any annoying hidden costs. You must guarantee that you log in to the platform at least as soon as every 3 months. If you do not do this, costs for lack of exercise will be charged. This holds true with most 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 examine all Costs here:
Plus500 is generally compensated for its services through the “market spread”. 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 also charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Desktop Software.
However, the following extra fees may be applied:
Overnight Funding – The overnight funding amount is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Financing Time”).
The over night funding time and the day-to-day overnight funding percentage 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 Fee for all trades on instruments denominated in a currency various to the currency of your account.
The Currency Conversion Fee will currently depend on 0.7% of the trade’s realised internet revenue and loss and shown in real time into the unrealised net revenue and loss of an open position.
Lack of exercise Charge – A cost of approximately USD 10 per month will be levied, need to you not visit to your trading represent a period of at least three months. This cost will be charged once a month from that moment onwards, as long as no login is made to the account. The inactivity charge will amount to the lesser of the staying available balance in your account or USD 10 (or comparable depending upon your currency). This is to offset the cost incurred in making the service available, even though it has actually not been utilized. Please note that the cost is only gathered from the Genuine Cash account and only when there are sufficient available funds in the account. In order to avoid this fee, simply 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 select this function, please note that as it guarantees that your position (trade) closes at a specific asked for rate (cost), the trade is subject to a larger 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 post about the costs on Plus500, we take a closer take a look at the various costs you pay when you trade with Plus500.
Plus500 Desktop Software
Software application & possibilities
When you begin trading, we comprehend that you of course likewise want to utilize an excellent software package. With Plus500 trading is primarily done via 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 find the CFD in which you wish to trade. New customers will for that reason not need to search long for buy & sell buttons on Plus500. Plus500 Desktop Software.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is important to remember that with Plus500 you constantly trade in CFDs. With Plus500 you never ever directly sell a share. The only thing that identifies 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 favorable outcome with an increasing rate and when you sell the CFD you get a positive outcome with a falling cost. Since you use take advantage of there is a high threat of losing money quickly due to take advantage of.
The option to hypothesize on a declining rate is a significant benefit within the Plus500 platform. The choice to short sell increases your flexibility and makes it possible to respond to various market circumstances.
Type of orders
With Plus500 you can instantly open an order. When you press purchase or sell you will see the screen below:
In the order screen you can get in the amount you wish to trade with. You likewise have the choice to instantly open or close the position after a certain price has actually been reached. This makes it possible to secure you trades when you need to go out. Plus500 Desktop Software.
It is likewise possible to position an order with Plus500. You do this by going into a price at which you immediately open the CFD position. By utilizing orders, you can achieve even much better trading outcomes.
With Plus500 you have the alternative to use a leverage. With a lever you can take a larger position with the same amount of cash. Both your possible earnings and your possible loss boost when you apply leverage. With each security you can immediately see what the maximum take advantage of 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 also trade with the mobile application they use. The mobile application is less extensive than the WebTrader. You can perform less comprehensive analyses with it. Nevertheless, it works to likewise install the mobile application. With the app you can get cautions when the cost of a security reaches a specific worth.
The mobile application is really user-friendly and it is great to adjust your orders when market conditions alter considerably. The mobile application is for that reason a strength in our review of the Plus500 platform.
Plus500 Desktop Software
Trading alternatives 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 speculate on price modifications in currency pairs. You can for example location a trade on the advancement of the euro against the dollar.
On Plus500 you can also trade in an extensive variety of CFD shares. The shares are nicely arranged by country, so you can rapidly find a share to trade.
It’s likewise possible to sell commodities by using CFDs. The most popular product for trading is oil. You can typically apply a maximum leverage of approximately 1:20 to investments in basic materials. When you trade in gold you can apply an utilize of 1:20.
On Plus500 you can likewise sell CFDs on choices. Alternatives frequently move strongly: an option can sometimes increase or fall in worth by tens of percent. With CFDs you can use an utilize of approximately 1:20 to choices, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can also sell CFDs on well-known indexes or ETFs. You can for instance sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most popular cryptocurrencies. Cryptocurrencies are extremely unpredictable and it can therefore be interesting to actively speculate on their price advancements. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to guidelines”). Plus500 Desktop Software.
Conclusion on the trading choices at Plus500
Plus500 has a vast array of tradable CFD securities. Even fairly unknown regional stocks can often be found on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all nations. My experience with Plus50 has therefore been extremely favorable.
Assistance & research
In this part of the review, we investigate how Plus500 supports traders.
At Plus500 you can perform technical analyses on the charts. Within the software you can utilize various drawing choices. You can draw horizontal levels to indicate price levels where the marketplace typically relocates the opposing instructions.
You can likewise include technical indications on the graph. The variety of technical signs at Plus500 is enormous. You can choose from more than 100 different choices. It is wise to utilize technical indicators. By utilizing technical signs, you can carry out much better analyses.
The technical analysis options within the Plus500 software are comprehensive. It is bothersome that you can not conserve several graphs. This implies that you need to duplicate the analyzes regularly. 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 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 sign up with Plus500 to learn how to trade better.
It is useful that you get a notification within the Plus500 software when intriguing advancements happen. When the cost of, for instance, oil falls dramatically, you will get a notification of this event. You can then decide on your own whether you wish to take a position on the marketplace development. Plus500 Desktop Software.
Within the Plus500 software you can also see how other users trade in a security. By taking a look 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 study and education in our opinion.
Plus500 has a comprehensive and fast client service that is readily available in more than 30 languages. Your issues can be resolved quickly in your language.
It is advised to call client service by means of live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be fixed nearly instantly.
It is likewise possible to email Plus500. Mails are often answered within a day. It is a pity that no telephone number is available. This makes it difficult to speak straight to somebody. Due to the quick processing time, Plus500 still scores adequately in regards to customer service. Plus500 Desktop Software.
Security & dependability
Before you deposit money with a business, you naturally need to know that it is completely safe to do so. In this part of the review, we look at how reputable Plus500 is.
Supervisors make sure that brokers follow the rules. Plus500 is supervised by:
- Plus500UK Ltd licensed & regulated by the FCA (# 509909).
- Plus500CY Ltd authorized & controlled 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; licensed financial service provider in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you take pleasure in extra protection if Plus500 declares bankruptcy. This is done through a so-called investor 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 likewise set several additional rules to guarantee that your money is as safe and secure as possible on Plus500. Listed below you can discover an introduction of these measurements:
Plus500 will never speculate with clients’ cash. All funds are kept in a different bank account, which suggests that this cash is safe when unexpected things occur with Plus500. And last but not least, on Plus500 you are protected against an unfavorable balance, due to the fact that he Negative balance security is a regulative requirement for all EU brokers. When you trade with Plus500, you can never be left with a residual financial obligation. Plus500 Desktop Software.
Plus500 is 100% no scam. Plus500 safely handles client assets. The company is also supervised. Plus500 has been around because 2008 and is even listed on the London stock market. These are all great indications that Plus500 is reputable and we have pertained to that conclusion ourselves.
Plus500 Desktop Software
About the company
Plus500 was founded in 2008 and has grown highly ever since. Plus500 is active in more than 30 nations and served more than 200,000 active clients in 2019. Plus500 executed over 35 million transactions with a worth of over $1,000 billion in one year. The head office of the business can be discovered in Israel, but they have opened a number of additional workplaces in other nations. Do you want to know more about the Plus500 business? In this short article you will discover everything you require to understand!
Conclusion review Plus500
Plus500 is among the very best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the easy to use software application. On Plus500 you can trade at low rates. You likewise have the chance to react to changing market conditions by positioning orders on both fluctuating prices. Plus500 Desktop Software.
Do you wish to find how Plus500 works? Immediately open a complimentary demo-account by pushing the button listed below: