Plus500 Review: our experience with this broker – Plus500 Hkd
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument schedule subject to policies), 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 advancements at low rates. Plus500 Hkd.
- At Plus500 you can hypothesize on cost developments at low rates.
- You can trade in a comprehensive series of CFD shares.
- It is possible to attempt Plus500 for free with a demonstration.
- 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 Hkd.
- Plus500 does not offer innovative software for professional traders.
- You can not find comprehensive analyses within the platform.
- Plus500 customer service is not available by phone.
- On Plus500 you can just trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration entirely free of charge and without risk? Use the button listed below to open a demo account with this broker:
We talk about the following topics in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw cash?
- Expenses: how much does trading expense on Plus500?
- Functionalities: what are the possibilities of the software?
- Trading options: in what securities you trade on Plus500?
- Support: what assistance do you receive when trading?
- Customer service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker trustworthy? (dependability).
- Info: more info about Plus500 (information).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you should initially check out the Plus500 website. Click here * to open the Plus500 site. To develop a free demonstration account, you simply have to choose an email address and a password. It is likewise possible to log in with your Facebook or Google account. After you have actually left this info, you can immediately begin trading. Plus500 Hkd.
Plus500 accepts clients from a lot of countries. There are likewise nationalities that are not admitted 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 evaluation, we therefore give Plus500 a favorable score for opening an account. Plus500 Hkd.
Deposit & withdraw money
When you have ended up being familiar 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 cash into your account by using among these techniques:
- Bank transfer.
Prior to your deposit can be processed, you need to validate your identity. Plus500 must abide by legislation and can just receive validated customers. By confirming new customers, Plus500 avoids costumers from utilizing the represent money laundering.
We’ve gone through the entire procedure and published the needed documents. Our account was authorized and launched by Plus500 within an hour. After confirming the identity of your account, you do not need to do it again. The length of this process depends upon your personal situation and can be various for each costumer.
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 cash will be in your account within a couple of days. Plus500 Hkd.
On Plus500 there are no additional expenses for transferring and withdrawing money. This is a huge benefit of the broker Plus500: numerous other brokers charge a little fee for withdrawing money. Traders can make the most of up to 5 free withdrawals a month, after which a fee 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 deal expenses. In this part of the review, we take an in-depth look at the costs of trading with Plus500. Listed below we quickly analyze which costs Plus500 passes on to its clients.
With Plus500 you pay a spread over every deal. The spread is the distinction between the buy and sell price of a CFD. Plus500 provides two spread systems for its instruments: Dynamic spread which is constantly changed according to the marketplace spread throughout the duration a position is open vs. a Spread which does not generally change in line with general market variations while a position is open, however when the marketplace is unpredictable and illiquid, may change to a brand-new level so that the underlying market conditions are much better reflected. Nevertheless, Plus500 aims to provide the tightest possible spreads at all times. Plus500 Hkd.
Forex expenses on Plus500
On Plus500 you can trade in various currency pairs. At the time of composing, you are paying 0.6 pips in transaction charges on the pair of EUR/ USD. We compared these costs with those of other companies 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 also trade in cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade against relatively 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 contract. Trading cryptocurrencies is therefore relatively helpful at Plus500. (We have drawn out these information on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can also trade in shares by utilizing CFDs. As an example: For the CFD share Tesla you presently 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 photo on April 20, 2020 at 13:00.).
Financing expenses at Plus500
With Plus500 you have the option to trade on margin. Because you can trade on margin, you do not need 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 funding buy and the over night financing offer costs. In many cases, you really receive a premium for short positions. We compared Plus500 with other parties for this review and the financing costs were reasonably low. Still, it is necessary to keep in mind that Plus500 is not extremely appropriate for long-term trading because of the funding charges you have to pay every day. Plus500 Hkd.
Other costs on Plus500
We have actually thoroughly investigated the expenses for this evaluation, and we have not discovered any bothersome surprise costs. However, you should guarantee that you log in to the platform a minimum of as soon as every three months. If you don’t do this, costs for lack of exercise 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 cash from your account.
You can examine all Costs here:
Plus500 is mainly 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 company who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Hkd.
However, the following additional charges may be used:
Overnight Financing – The overnight funding quantity 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 day-to-day overnight funding portion can be found in the “Particulars” 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 Fee will presently depend on 0.7% of the trade’s understood web revenue and loss and shown in real time into the unrealised net profit and loss of an open position.
Lack of exercise Charge – A charge of up to USD 10 each month will be levied, should you not visit to your trading represent a period of a minimum of three months. This fee 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 be equal to the lower of the remaining offered balance in your account or USD 10 (or equivalent depending upon your currency). This is to offset the cost sustained in making the service available, although it has not been used. Nevertheless, please note that the fee is only collected from the Genuine Money account and just when there are sufficient offered funds in the account. In order to avoid this charge, simply log into your trading account from time to time, as this is considered enough activity to prevent a charge from being charged.
Guaranteed Stop Order – if you choose this function, please note that as it ensures that your position (trade) closes at a particular requested rate (rate), the trade undergoes a larger 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 post about the costs on Plus500, we take a closer take a look at the numerous expenses you pay when you trade with Plus500.
Software & possibilities
When you start trading, we understand that you of course also want to utilize an excellent software package. With Plus500 trading is generally done through 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 discover the CFD in which you wish to trade. New consumers will for that reason not need to search wish for buy & sell buttons on Plus500. Plus500 Hkd.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is very important to bear in mind that with Plus500 you constantly sell CFDs. With Plus500 you never directly trade in a share. The only thing that identifies your result is the difference in between the price 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 cost and when you sell the CFD you get a positive outcome with a falling rate. Given that you use leverage there is a high risk of losing cash quickly due to utilize.
The option to hypothesize on a declining rate is a significant benefit within the Plus500 platform. The alternative to short sell increases your versatility and makes it possible to respond to different market situations.
Type of orders
With Plus500 you can right away open an order. When you push buy or sell you will see the screen below:
In the order screen you can get in the quantity you wish to trade with. You also have the alternative to immediately open or close the position after a certain price has been reached. This makes it possible to safeguard you trades when you have to go out. Plus500 Hkd.
It is also possible to place an order with Plus500. You do this by getting in a rate at which you automatically open the CFD position. By using orders, you can attain even better trading outcomes.
With Plus500 you have the option to use a leverage. With a lever you can take a larger position with the same amount of cash. Both your potential revenue and your prospective loss boost when you apply leverage. With each security you can instantly see what the optimum leverage is that you can apply.
The presence of a take advantage of is an advantage in the evaluation of Plus500. You can always decide to invest with smaller sized quantities if you want to lower your threat.
On Plus500 you can likewise trade with the mobile application they use. The mobile application is less comprehensive than the WebTrader. You can perform less extensive analyses with it. It is beneficial to likewise install the mobile application. With the app you can get warnings when the cost of a security reaches a specific worth.
The mobile application is very user-friendly and it is great to adjust your orders when market conditions alter substantially. 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 different types of securities you can sell with Plus500.
With Plus500 you can trade in CFDs on Forex. When you sell Forex, you hypothesize on cost modifications in currency pairs. You can for instance place a trade on the advancement of the euro against the dollar.
On Plus500 you can likewise sell a comprehensive variety of CFD shares. The shares are neatly arranged by nation, so you can rapidly discover a share to trade.
It’s also possible to sell products by utilizing CFDs. The most popular commodity for trading is oil. You can often apply a maximum leverage of as much as 1:20 to financial investments in raw materials. When you trade in gold you can use an utilize of 1:20.
On Plus500 you can also sell CFDs on choices. Alternatives typically move highly: an option can sometimes increase or fall in value by tens of percent. With CFDs you can apply a leverage of up to 1:20 to options, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can likewise trade in 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 famous cryptocurrencies. Cryptocurrencies are extremely unstable 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 Hkd.
Conclusion on the trading options at Plus500
Plus500 has a wide range of tradable CFD securities. Even relatively unidentified regional stocks can often be discovered on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all countries. My experience with Plus50 has therefore been really favorable.
Assistance & research study
In this part of the review, 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 illustration alternatives. You can draw horizontal levels to show price levels where the marketplace frequently moves in the opposing instructions.
You can also add technical indicators on the chart. The series of technical signs at Plus500 is massive. You can pick from more than 100 various options. It is wise to utilize technical indications. By using technical indications, you can carry out much better analyses.
The technical analysis choices within the Plus500 software application are extensive. Nevertheless, it is bothersome that you can not save several charts. This implies that you have to duplicate the evaluates routinely. Professional investors would have to download other programs to perform more complex analyses.
Research and education
In this review we can be fast about the possibilities of research and education: at Plus500 these choices are completely missing out on. There are no courses or webinars readily available at Plus500. This is a downside for individuals who sign up with Plus500 to discover how to trade better.
It is useful that you get a notice within the Plus500 software application when interesting developments occur. When the rate of, for instance, oil falls sharply, you will get a notice of this event. You can then choose on your own whether you wish to take a position on the marketplace advancement. Plus500 Hkd.
Within the Plus500 software application you can also 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 essential data is missing out on with Plus500 platform. Plus500 does not score well in the field of research and education in our opinion.
Plus500 has a detailed and fast customer service that is offered in more than 30 languages. Your issues can be fixed rapidly in your language.
It is suggested to contact customer support via live chat. You can use the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be solved nearly immediately.
It is likewise 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 directly to somebody. Due to the fast processing time, Plus500 still scores adequately in terms of customer support. Plus500 Hkd.
Security & dependability
Prior to you transfer cash with a company, you naturally need to know that it is totally safe to do so. In this part of the review, we take a look at how dependable Plus500 is.
Supervisors ensure that brokers stick to the guidelines. Plus500 is monitored 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; authorized monetary provider in South Africa, FSP # 47546.
Security of your deposits
Depending on your citizenship, you delight in extra defense if Plus500 declares bankruptcy. This is done through a so-called financier defense fund. All customer funds are held in a segregated customer bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually likewise set a number of additional guidelines to ensure that your cash is as safe and secure as possible on Plus500. Below you can discover an introduction of these measurements:
Plus500 will never speculate with consumers’ money. All funds are stored in a different checking account, which suggests that this cash is secure when unanticipated things occur with Plus500. And lastly, on Plus500 you are safeguarded versus an unfavorable balance, because he Unfavorable balance defense 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 Hkd.
Plus500 is 100% no scam. Plus500 securely handles customer possessions. The company is also monitored. Plus500 has actually been around since 2008 and is even noted on the London stock exchange. These are all excellent signs that Plus500 is reliable and we have actually pertained to that conclusion ourselves.
About the company
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 customers in 2019. Plus500 executed over 35 million deals with a value of over $1,000 billion in one year. The head office of the company can be discovered in Israel, however they have actually opened numerous additional workplaces in other countries. Do you wish to know more about the Plus500 company? In this short article you will find whatever you need to know!
Conclusion evaluation Plus500
Plus500 is one of the best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by utilizing the easy to use software. On Plus500 you can trade at low rates. You likewise have the opportunity to react to changing market conditions by putting orders on both rising and falling rates. Plus500 Hkd.
Do you want to find how Plus500 works? Instantly open a complimentary demo-account by pressing the button listed below: