Plus500 Evaluation: our experience with this broker – Plus500 Platform
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to guidelines), Forex and stocks. In this substantial evaluation, 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 advancements at low rates. Plus500 Platform.
- At Plus500 you can hypothesize on price developments at low rates.
- You can sell a substantial variety of CFD shares.
- It is possible to attempt Plus500 free of charge with a demonstration.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 uses its services in more than 30 various languages.
- On Plus500 you can start trading from $100. Plus500 Platform.
- Plus500 does not supply innovative software application for professional traders.
- You can not find comprehensive analyses within the platform.
- Plus500 client service is not offered by phone.
- On Plus500 you can only trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration completely free of charge and without risk? Use the button listed below to open a demonstration account with this broker:
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 transfer and withdraw cash?
- Expenses: how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading options: in what securities you trade on Plus500?
- Assistance: what support do you receive when trading?
- Costumer service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker reputable? (reliability).
- Details: more details 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 site. Click here * to open the Plus500 site. To develop a free demo account, you simply need to pick an e-mail address and a password. It is likewise possible to visit with your Facebook or Google account. After you have left this information, you can immediately start trading. Plus500 Platform.
Plus500 accepts customers from the majority of countries. 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 evaluation, we for that reason provide Plus500 a favorable rating for opening an account. Plus500 Platform.
Deposit & withdraw money
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 transfer money into your account by utilizing one of these techniques:
- Bank transfer.
Before your deposit can be processed, you need to confirm your identity. Plus500 should adhere to legislation and can just receive validated customers. By confirming new clients, Plus500 avoids customers from using the represent cash laundering.
We have actually gone through the entire procedure and published the needed documents. Our account was approved and released by Plus500 within an hour. After validating the identity of your account, you do not need to do it once again. The length of this procedure depends upon your personal 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 cash to your savings account or PayPal account. The transfer is made quickly and the money will remain in your account within a few days. Plus500 Platform.
On Plus500 there are no additional costs for depositing and withdrawing money. This is a huge benefit of the broker Plus500: many other brokers charge a little fee for withdrawing cash. Traders can make the most of approximately 5 totally free withdrawals a month, after which a charge will be incurred.
Review of the expenses of Plus500
When you start trading with Plus500, you obviously do not want a big part of your cash to be lost to high transaction costs. In this part of the review, we take a comprehensive take a look at the costs of trading with Plus500. Below we quickly analyze which costs Plus500 hands down to its customers.
With Plus500 you pay a spread over every transaction. The spread is the difference in between the buy and sell price of a CFD. Plus500 provides two spread systems for its instruments: Dynamic spread which is constantly adjusted according to the marketplace spread during the period a position is open vs. a Spread which does not normally change in line with basic market variations while a position is open, however when the marketplace is volatile and illiquid, might change to a new level so that the underlying market conditions are much better reflected. Plus500 aims to supply the tightest possible spreads at all times. Plus500 Platform.
Forex costs on Plus500
On Plus500 you can sell 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 suppliers and concluded that these costs are comparable to those of other brokers. (We have 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 evaluation it emerged that at Plus500 you can trade versus reasonably 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 agreement. Trading cryptocurrencies is for that reason reasonably advantageous at Plus500. (We have drawn out these information on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can also 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 value. Trading CFD Tesla shares is for that reason possible at a low cost. (Please keep in mind that this is a picture on April 20, 2020 at 13:00.).
Financing expenses 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 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 overnight financing offer costs. In many cases, you actually receive a premium for brief positions. We compared Plus500 with other celebrations for this evaluation and the financing expenses were relatively low. Still, it is necessary to remember that Plus500 is not extremely appropriate for long-term trading because of the funding charges you have to pay daily. Plus500 Platform.
Other expenses on Plus500
We have extensively examined the expenses for this review, and we have not discovered any bothersome surprise costs. You should ensure that you log in to the platform at least once every 3 months. If you do not do this, expenses for lack of exercise will be charged. This is the case with many brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? Then it is a good idea to withdraw the cash from your account.
You can check all Charges here:
Plus500 is generally 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 indicates 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 Platform.
However, the following additional fees might be used:
Overnight Financing – The over night funding amount is either contributed to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The overnight financing time and the everyday overnight financing percentage can be discovered in the “Particulars” link beside the instrument’s name on the primary screen of the platform.
Currency Conversion Fee – 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 Charge will presently depend on 0.7% of the trade’s realised net revenue and loss and shown in real time into the unrealised net earnings and loss of an open position.
Lack of exercise Cost – A charge of as much as USD 10 per month will be levied, need to you not visit to your trading represent a period of at least three months. This charge will be charged once a month from that moment onwards, as long as no login is made to the account. The lack of exercise fee will amount to the lesser of the staying offered balance in your account or USD 10 (or comparable depending upon your currency). This is to offset the cost incurred in making the service offered, even though it has actually not been utilized. Please note that the charge is only gathered from the Genuine Cash account and only when there are enough available funds in the account. In order to avoid this fee, just log into your trading account from time to time, as this is considered sufficient activity to prevent a fee from being charged.
Guaranteed Stop Order – if you choose this function, please note that as it guarantees that your position (trade) closes at a particular requested rate (cost), the trade is subject to a broader spread.
Conclusion Plus500 costs
The expenses 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 various costs you pay when you trade with Plus500.
Software & possibilities
When you begin trading, we comprehend that you naturally also wish to use a great software package. With Plus500 trading is generally done by means of the online WebTrader. A fantastic advantage of the WebTrader is the availability: you can visit to the platform at any time and from any location to open or close a position.
What stood apart in our evaluation 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 wish to trade. New clients will therefore not need to search long for purchase & offer buttons on Plus500. Plus500 Platform.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is essential to keep in mind that with Plus500 you always sell CFDs. With Plus500 you never ever straight 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 alternatives. 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 price and when you sell the CFD you get a favorable outcome with a falling rate. Given that you use take advantage of there is a high threat of losing money rapidly due to take advantage of.
The option to speculate on a decreasing price is a major advantage within the Plus500 platform. The choice to short sell increases your flexibility and makes it possible to react to different market scenarios.
Type of orders
With Plus500 you can instantly open an order. When you press purchase or offer you will see the screen listed below:
In the order screen you can enter the quantity you want to trade with. You likewise have the option to instantly open or close the position after a particular cost has been reached. This makes it possible to safeguard you trades when you need to go out. Plus500 Platform.
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 utilizing orders, you can achieve even better trading results.
With Plus500 you have the option to apply a take advantage of. With a lever you can take a larger position with the very same amount of cash. Both your prospective revenue and your prospective loss increase when you use take advantage of. With each security you can right away see what the maximum leverage is that you can apply.
The presence of a leverage is a benefit in the evaluation of Plus500. You can constantly decide to invest with smaller 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 extensive than the WebTrader. You can perform less comprehensive analyses with it. Nevertheless, it works to likewise set up the mobile application. With the app you can get cautions when the cost of a security reaches a particular worth.
The mobile application is extremely user-friendly and it is good to change your orders when market conditions alter significantly. The mobile application is for that reason a strong point in our review of the Plus500 platform.
Trading options at Plus500
In this part of the evaluation we will discuss the various types of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you trade in Forex, you hypothesize on rate modifications in currency sets. You can for example place a trade on the development of the euro versus the dollar.
On Plus500 you can likewise trade in a substantial range of CFD shares. The shares are neatly sorted by country, so you can rapidly discover a share to trade.
It’s likewise possible to sell products by utilizing CFDs. The most popular commodity for trading is oil. You can typically apply a maximum leverage of up to 1:20 to investments in basic materials. When you sell gold you can apply an utilize of 1:20.
On Plus500 you can also trade in CFDs on choices. Alternatives often move strongly: a choice can sometimes increase or fall in worth by tens of percent. With CFDs you can use a leverage of approximately 1:20 to choices, which further increases your potential gains or losses.
Indices or ETFs
On Plus500 you can also sell CFDs on popular indexes or ETFs. You can for instance sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most well-known cryptocurrencies. Cryptocurrencies are extremely volatile and it can for that reason be interesting to actively hypothesize on their price advancements. One of the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument availability subject to guidelines”). Plus500 Platform.
Conclusion on the trading alternatives at Plus500
Plus500 has a wide variety of tradable CFD securities. Even fairly unknown local stocks can typically be found on the Plus500 platform. This makes Plus500 an appealing broker for investors from all nations. My experience with Plus50 has actually therefore been very positive.
Assistance & research study
In this part of the evaluation, we investigate how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the charts. Within the software application you can utilize various illustration choices. You can draw horizontal levels to indicate price levels where the market frequently moves in the opposing direction.
You can also add technical indications on the chart. The series of technical signs at Plus500 is huge. You can select from more than 100 various alternatives. It is wise to utilize technical indicators. By using technical signs, you can perform much better analyses.
The technical analysis options within the Plus500 software are substantial. Nevertheless, it is inconvenient that you can not conserve numerous graphs. This suggests that you have to repeat the examines regularly. Expert financiers would need to download other programs to perform more complex analyses.
Research and education
In this review we can be quick about the possibilities of research study and education: at Plus500 these options are totally missing. There are no courses or webinars readily available at Plus500. This is a downside for people who sign up with Plus500 to discover how to trade much better.
It is useful that you get a notice within the Plus500 software when interesting developments occur. When the cost of, for instance, oil falls dramatically, you will get a notification of this occasion. You can then decide on your own whether you wish to take a position on the marketplace advancement. Plus500 Platform.
Within the Plus500 software 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 basic data is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.
Plus500 has an extensive and quick client service that is offered in more than 30 languages. Your problems can be fixed rapidly in your language.
It is recommended to call client service via live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your problems can be fixed almost right away.
It is likewise possible to email Plus500. Mails are typically addressed within a day. It is a pity that no telephone number is readily available. This makes it difficult to speak directly to someone. Due to the fast processing time, Plus500 still scores sufficiently in regards to customer support. Plus500 Platform.
Security & dependability
Prior to you transfer money with a business, you naturally would like to know that it is totally secure to do so. In this part of the review, we look at how reputable Plus500 is.
Supervisors ensure that brokers abide by the guidelines. Plus500 is monitored by:
- Plus500UK Ltd authorized & controlled by the FCA (# 509909).
- Plus500CY Ltd authorized & regulated 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), certified by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; authorized monetary company in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you delight in additional defense if Plus500 goes bankrupt. This is done through a so-called financier defense fund. All client funds are held in a segregated client bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has also set numerous extra rules to ensure that your cash is as safe and secure as possible on Plus500. Below you can find an introduction of these measurements:
Plus500 will never hypothesize with consumers’ money. All funds are saved in a separate bank account, which means that this money is safe and secure when unanticipated things occur with Plus500. And last but not least, on Plus500 you are secured against an unfavorable balance, due to the fact that he Unfavorable balance protection is a regulative requirement for all EU brokers. When you trade with Plus500, you can never be left with a recurring debt. Plus500 Platform.
Plus500 is 100% no rip-off. Plus500 securely handles customer properties. The business is also supervised. Plus500 has been around given that 2008 and is even noted on the London stock market. These are all good indications that Plus500 is reputable and we have actually concerned that conclusion ourselves.
About the business
Plus500 was founded in 2008 and has actually grown strongly since then. Plus500 is active in more than 30 nations and served more than 200,000 active consumers in 2019. Plus500 executed over 35 million transactions with a worth of over $1,000 billion in one year. The headquarters of the business can be discovered in Israel, however they have actually opened several additional offices in other countries. Do you need to know more about the Plus500 company? In this article you will discover whatever you require 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 user-friendly software. On Plus500 you can trade at low rates. You also have the chance to respond to altering market conditions by positioning orders on both rising and falling prices. Plus500 Platform.
Do you want to find how Plus500 works? Instantly open a totally free demo-account by pressing the button listed below: