Plus500 Review: our experience with this broker – Plus500 Gr
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument schedule subject to regulations), Forex and stocks. In this extensive review, we share our experiences with this broker. In our test, Plus500 emerged as an user-friendly broker where you can react to the most recent market advancements at low rates. Plus500 Gr.
- At Plus500 you can hypothesize on rate developments at low rates.
- You can trade in a comprehensive variety of CFD shares.
- It is possible to try Plus500 totally free with a demo.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 provides its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Plus500 Gr.
- Plus500 does not provide sophisticated software application for professional traders.
- You can not discover extensive analyses within the platform.
- Plus500 client service is not readily available by phone.
- On Plus500 you can only trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration entirely free of charge and without threat? Use the button listed below to open a demonstration account with this broker:
We talk about the following subjects in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you deposit and withdraw money?
- Costs: just how much does trading expense on Plus500?
- Performances: what are the possibilities of the software?
- Trading alternatives: in what securities you trade on Plus500?
- Assistance: what support do you get when trading?
- Customer service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker trusted? (reliability).
- Info: more info about Plus500 (information).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should initially go to the Plus500 website. Click here * to open the Plus500 site. To produce a free demonstration account, you simply need to pick an e-mail address and a password. It is also possible to visit with your Facebook or Google account. After you have left this information, you can immediately begin trading. Plus500 Gr.
Plus500 accepts clients from the majority of nations. There are also 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 review, we for that reason provide Plus500 a positive score for opening an account. Plus500 Gr.
Deposit & withdraw cash
When you have actually become familiar 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 cash into your account by using among these techniques:
- Bank transfer.
Before your deposit can be processed, you need to confirm your identity. Plus500 needs to comply with legislation and can just get confirmed clients. By validating new costumers, Plus500 avoids customers from using the represent money laundering.
We have actually gone through the entire process and uploaded the required documents. Our account was authorized and launched by Plus500 within an hour. After verifying the identity of your account, you do not need to do it once again. The length of this procedure depends on your personal scenario and can be various for each customer.
You can withdraw the cash into your account at any time. You can do this by transferring the cash to your bank account or PayPal account. The transfer is made quickly and the money will be in your account within a couple of days. Plus500 Gr.
On Plus500 there are no extra expenses for transferring and withdrawing cash. This is a big benefit of the broker Plus500: numerous other brokers charge a little cost for withdrawing money. Traders can make the most of approximately 5 complimentary withdrawals a month, after which a cost will be incurred.
Evaluation of the costs 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 expenses. In this part of the review, we take an in-depth take a look at the charges of trading with Plus500. Listed below we quickly examine which costs Plus500 passes on to its customers.
With Plus500 you pay a spread over every deal. The spread is the distinction between the buy and sell price of a CFD. Plus500 offers 2 spread mechanisms 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 usually change in line with basic market changes while a position is open, however when the market is unstable and illiquid, may change to a brand-new level so that the underlying market conditions are better shown. Plus500 aims to offer the tightest possible spreads at all times. Plus500 Gr.
Forex costs on Plus500
On Plus500 you can sell different currency sets. At the time of writing, you are paying 0.6 pips in transaction charges on the pair of EUR/ USD. We compared these costs with those of other providers and concluded that these expenses are comparable to those of other brokers. (We have actually extracted 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 reasonably advantageously fees 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 agreement. Trading cryptocurrencies is therefore reasonably helpful at Plus500. (We have actually drawn out these data on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can also 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 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 option to trade on margin. Because you can trade on margin, you do not have to put in the total of the trading position yourself. You do have to pay a premium for this.
With each security you will see the overnight funding buy and the over night funding sell costs. Sometimes, you actually receive a premium for short positions. We compared Plus500 with other celebrations for this review and the funding costs were relatively low. Still, it is necessary to keep in mind that Plus500 is not really ideal for long-lasting trading because of the funding fees you have to pay every day. Plus500 Gr.
Other expenses on Plus500
We have actually extensively examined the costs for this review, and we have actually not discovered any bothersome concealed expenses. Nevertheless, you should ensure that you log in to the platform a minimum of when every three months. If you do not do this, expenses for lack of exercise will be charged. This is the case with the majority of brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? Then it is smart to withdraw the cash from your account.
You can check all Charges here:
Plus500 is mainly compensated 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 indicates 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 Gr.
However, the following extra charges may be used:
Overnight Financing – The over night funding amount is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Financing Time”).
The overnight funding time and the everyday over night funding portion can be found 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 different to the currency of your account.
The Currency Conversion Charge will currently depend on 0.7% of the trade’s realised web earnings and loss and shown in real time into the unrealised net profit and loss of an employment opportunity.
Inactivity Charge – A charge of approximately USD 10 per month will be imposed, need to you not visit to your trading account for a period of at least 3 months. This cost will be charged when a month from that minute onwards, as long as no login is made to the account. The lack of exercise cost will amount to the lower of the remaining available balance in your account or USD 10 (or equivalent depending on your currency). This is to offset the expense incurred in making the service available, even though it has actually not been used. Please note that the charge is only collected from the Genuine Money account and just when there are sufficient available funds in the account. In order to avoid this cost, merely log into your trading account from time to time, as this is deemed sufficient activity to prevent a cost from being charged.
Guaranteed Stop Order – if you select this function, please note that as it guarantees that your position (trade) closes at a particular asked for rate (rate), the trade is subject to a broader spread.
Conclusion Plus500 costs
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 short article about the costs on Plus500, we take a closer look at the various expenses you pay when you trade with Plus500.
Software application & possibilities
When you start trading, we understand that you of course likewise wish to utilize a great software package. With Plus500 trading is primarily done by means of the online WebTrader. An excellent advantage of the WebTrader is the accessibility: you can log in to the platform at any time and from any area 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 find the CFD in which you wish to trade. New customers will for that reason not need to search wish for purchase & sell buttons on Plus500. Plus500 Gr.
Opening a trade
Opening a trade with Plus500 is rather simple. It is necessary to bear in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never straight sell a share. The only thing that identifies your result is the distinction between the rate at which you open and close the position.
When you open a position, you have 2 options. You can purchase the CFD or you can go short on the CFD. When you buy the CFD you get a positive result with a rising rate and when you offer the CFD you get a favorable result with a falling cost. Given that you utilize utilize there is a high danger of losing cash quickly due to leverage.
The option to hypothesize on a declining rate is a significant advantage within the Plus500 platform. The option to brief sell increases your versatility and makes it possible to respond to various market situations.
Type of orders
With Plus500 you can right away open an order. When you press purchase or sell you will see the screen below:
In the order screen you can enter the quantity you wish to trade with. You also have the choice to instantly open or close the position after a specific cost has actually been reached. This makes it possible to protect you trades when you have to go out. Plus500 Gr.
It is also possible to put an order with Plus500. You do this by getting in a price at which you instantly open the CFD position. By using orders, you can accomplish even much better trading outcomes.
With Plus500 you have the option to use a leverage. With a lever you can take a larger position with the very same amount of money. Both your possible revenue and your potential loss increase when you apply utilize. With each security you can right away see what the maximum take advantage of is that you can apply.
The existence 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 lower your risk.
On Plus500 you can likewise trade with the mobile application they offer. The mobile application is less extensive than the WebTrader. You can perform less extensive analyses with it. It is useful to also install the mobile application. With the app you can get cautions when the price of a security reaches a particular worth.
The mobile application is really easy to use and it is good to change your orders when market conditions alter considerably. The mobile application is therefore a strength in our review of the Plus500 platform.
Trading choices at Plus500
In this part of the review we will discuss the various types of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you hypothesize on cost modifications in currency pairs. You can for example place a trade on the development of the euro versus the dollar.
On Plus500 you can also trade in a substantial range of CFD shares. The shares are nicely sorted by nation, so you can rapidly discover a share to trade.
It’s also possible to sell commodities by utilizing CFDs. The most popular product for trading is oil. You can typically apply a maximum utilize of up to 1:20 to financial investments in raw materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can likewise trade in CFDs on alternatives. Choices typically move strongly: an option can sometimes rise or fall in worth by tens of percent. With CFDs you can use a leverage of up to 1:20 to choices, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can likewise sell CFDs on popular indexes or ETFs. You can for instance 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 unpredictable and it can therefore be interesting to actively speculate on their cost developments. One of the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument availability subject to policies”). Plus500 Gr.
Conclusion on the trading options at Plus500
Plus500 has a vast array of tradable CFD securities. Even relatively unknown regional stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an appealing broker for investors from all nations. My experience with Plus50 has therefore been really favorable.
Assistance & research study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the graphs. Within the software application you can use different drawing choices. You can draw horizontal levels to indicate price levels where the marketplace often moves in the opposing instructions.
You can also add technical signs on the graph. The range of technical signs at Plus500 is huge. You can choose from more than 100 different options. It is smart to use technical indicators. By using technical indications, you can carry out much better analyses.
The technical analysis alternatives within the Plus500 software are comprehensive. It is inconvenient that you can not save numerous charts. This indicates that you have to duplicate the examines frequently. Professional investors would have to download other programs to perform more complex analyses.
Research study and education
In this review we can be quick about the possibilities of research and education: at Plus500 these choices are totally missing out on. There are no courses or webinars readily available at Plus500. This is a drawback for individuals who sign up with Plus500 to discover how to trade better.
It is useful that you receive a notification within the Plus500 software when fascinating developments occur. When the price of, for instance, oil falls greatly, you will get a notification of this occasion. You can then decide for yourself whether you wish to take a position on the marketplace advancement. Plus500 Gr.
Within the Plus500 software application 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 buyers or sellers. Other essential information is missing out on 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 support that is available in more than 30 languages. Your problems can be resolved quickly in your language.
It is recommended to contact customer care through live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be fixed nearly immediately.
It is also possible to email Plus500. Mails are often responded to within a day. It is a pity that no telephone number is offered. This makes it impossible to speak straight to somebody. Due to the fast processing time, Plus500 still scores sufficiently in terms of client service. Plus500 Gr.
Security & dependability
Before you deposit money with a company, you naturally wish to know that it is completely safe to do so. In this part of the review, we look at how trusted Plus500 is.
Supervisors ensure that brokers abide by 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 monetary company in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you delight in extra security if Plus500 goes bankrupt. This is done through a so-called financier 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 actually likewise set a number of additional guidelines to make sure that your cash is as safe as possible on Plus500. Below you can find a summary of these measurements:
Plus500 will never ever speculate with customers’ money. All funds are stored in a different bank account, which suggests that this money is safe when unforeseen things occur with Plus500. And last but not least, on Plus500 you are safeguarded against an unfavorable balance, because he Unfavorable balance defense is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never be left with a residual financial obligation. Plus500 Gr.
Plus500 is 100% no rip-off. Plus500 firmly handles customer assets. The business is likewise monitored. Plus500 has been around given that 2008 and is even noted on the London stock market. These are all good signs that Plus500 is reliable and we have come to that conclusion ourselves.
About the company
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 clients in 2019. Plus500 performed over 35 million deals with a value of over $1,000 billion in one year. The headquarters of the company can be discovered in Israel, however they have opened several extra offices in other nations. Do you would like to know more about the Plus500 business? In this post you will discover whatever you need to know!
Conclusion evaluation Plus500
Plus500 is among the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the easy to use software. On Plus500 you can trade at low rates. You also have the opportunity to react to changing market conditions by positioning orders on both fluctuating prices. Plus500 Gr.
Do you want to discover how Plus500 works? Then immediately open a complimentary demo-account by pressing 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