Plus500 Review: our experience with this broker – Plus500 Points
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to guidelines), Forex and stocks. In this extensive evaluation, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can react to the most recent market developments at low rates. Plus500 Points.
- At Plus500 you can speculate on price developments at low rates.
- You can trade in a substantial variety of CFD shares.
- It is possible to try Plus500 free of charge with a demo.
- On Plus500 you can utilize the easy to use web trader.
- Plus500 provides its services in more than 30 various languages.
- On Plus500 you can start trading from $100. Plus500 Points.
- Plus500 does not provide sophisticated software for professional traders.
- You can not find comprehensive analyses within the platform.
- Plus500 client service is not readily available by phone.
- On Plus500 you can just sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demo totally free of charge and without threat? Use the button below to open a demonstration account with this broker:
We go over the following subjects in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you deposit and withdraw money?
- Expenses: just how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading alternatives: in what securities you trade on Plus500?
- Assistance: what assistance do you get when trading?
- Client service: what is the quality of the customer service? (costumer-service).
- Dependability: Is this broker trustworthy? (reliability).
- Info: more info about Plus500 (info).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you must first check out the Plus500 website. Click here * to open the Plus500 website. To develop a totally free demonstration account, you simply have to select 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 immediately start trading. Plus500 Points.
Plus500 accepts consumers from many countries. Nevertheless, there are likewise nationalities that are not confessed to Plus500. Traders from for instance, America, Brazil, Belgium and Syria are not able 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 positive ranking for opening an account. Plus500 Points.
Deposit & withdraw money
When you have ended up being knowledgeable about the Plus500 platform, you can switch to a genuine cash account at any time. The minimum deposit at Plus500 is $100. You can transfer cash into your account by using among these approaches:
- Bank transfer.
Before your deposit can be processed, you should verify your identity. Plus500 must abide by legislation and can only receive validated customers. By confirming new clients, Plus500 avoids customers from using the account for money laundering.
We’ve gone through the whole procedure and submitted the needed files. Our account was approved and launched by Plus500 within an hour. After validating the identity of your account, you don’t need to do it again. The length of this process depends on your individual circumstance and can be different for each costumer.
You can withdraw the money 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 rapidly and the cash will be in your account within a few days. Plus500 Points.
On Plus500 there are no additional costs for depositing and withdrawing cash. This is a big advantage of the broker Plus500: lots of other brokers charge a little cost for withdrawing cash. Traders can benefit from as much as 5 totally free withdrawals a month, after which a charge will be incurred.
Review of the costs of Plus500
When you start trading with Plus500, you undoubtedly do not desire a big part of your cash to be lost to high deal costs. In this part of the evaluation, we take a detailed look at the costs of trading with Plus500. Below we briefly analyze which costs Plus500 passes on to its consumers.
With Plus500 you pay a spread over every transaction. The spread is the distinction in between the buy and sell cost of a CFD. Plus500 uses 2 spread mechanisms for its instruments: Dynamic spread which is constantly adjusted according to the market spread out throughout the period a position is open vs. a Spread which does not generally change in line with basic market fluctuations while a position is open, however when the market is volatile and illiquid, may change to a new level so that the underlying market conditions are much better reflected. Plus500 aims to offer the tightest possible spreads at all times. Plus500 Points.
Forex expenses on Plus500
On Plus500 you can trade in various currency sets. At the time of composing, you are paying 0.6 pips in transaction charges on the pair of EUR/ USD. We compared these expenses with those of other suppliers 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 expenses on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade against 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 therefore relatively useful at Plus500. (We have extracted 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 presently pay a spread of $ 0.95, which corresponds to 0.12% of the total worth. Trading CFD Tesla shares is therefore possible at a low cost. (Please keep in mind that this is a snapshot on April 20, 2020 at 13:00.).
Funding expenses at Plus500
With Plus500 you have the choice to trade on margin. Due to the fact that you can trade on margin, you do not need to put in the full amount of the trading position yourself. You do have to pay a premium for this.
With each security you will see the over night financing buy and the over night funding offer costs. Sometimes, you actually get a premium for short positions. We compared Plus500 with other celebrations for this review and the funding expenses were reasonably low. Still, it is essential to keep in mind that Plus500 is not extremely suitable for long-term trading because of the funding costs you need to pay daily. Plus500 Points.
Other expenses on Plus500
We have extensively investigated the costs for this evaluation, and we have not found any irritating surprise expenses. Nevertheless, you should ensure that you visit 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 holds true with a lot of 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 cash from your account.
You can check all Costs here:
Plus500 is primarily 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 means a market spread of 0.6 pips, in this example). Unlike other provider who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Points.
The following additional costs may be used:
Overnight Financing – The overnight funding quantity is either contributed to or subtracted from your account when holding a position after a particular time (the “Overnight Financing Time”).
The overnight financing time and the everyday overnight funding portion can be found in the “Particulars” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Charge – 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 Charge will presently depend on 0.7% of the trade’s understood net profit and loss and reflected in real time into the unrealised net revenue and loss of an employment opportunity.
Lack of exercise Fee – A fee of up to USD 10 per month will be levied, should you not visit to your trading represent a period of a minimum of three months. This charge will be charged when a month from that moment onwards, as long as no login is made to the account. The lack of exercise charge will be equal to the lower of the staying offered balance in your account or USD 10 (or equivalent depending on your currency). This is to offset the expense sustained in making the service available, although it has actually not been used. However, please note that the cost is only gathered from the Real Cash account and just when there are sufficient offered funds in the account. In order to avoid this fee, simply log into your trading account from time to time, as this is considered sufficient activity to prevent a charge from being charged.
Surefire Stop Order – if you select this feature, please note that as it ensures that your position (trade) closes at a particular asked for rate (rate), the trade goes through a larger 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 post about the expenses on Plus500, we take a closer take a look at the various expenses you pay when you trade with Plus500.
Software application & possibilities
When you start trading, we comprehend that you of course likewise want to utilize a good software package. With Plus500 trading is primarily 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 area to open or close a position.
What stuck out in our review 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 want to trade. New consumers will for that reason not have to search long for purchase & sell buttons on Plus500. Plus500 Points.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is necessary to keep in mind that with Plus500 you always trade in CFDs. With Plus500 you never ever directly sell a share. The only thing that determines your result is the difference between the rate at which you open and close the position.
When you open a position, you have two choices. You can buy the CFD or you can go short on the CFD. When you buy the CFD you get a positive result with an increasing cost and when you sell the CFD you get a favorable result with a falling price. Given that you use leverage there is a high threat of losing money quickly due to leverage.
The choice to hypothesize on a declining rate is a significant advantage within the Plus500 platform. The choice to brief 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 offer you will see the screen below:
In the order screen you can enter the amount you want to trade with. You likewise have the option to immediately open or close the position after a specific price has been reached. This makes it possible to protect you trades when you have to go out. Plus500 Points.
It is likewise possible to put an order with Plus500. You do this by going into a rate at which you immediately open the CFD position. By utilizing orders, you can accomplish even much better trading outcomes.
Take advantage of
With Plus500 you have the choice to apply a leverage. With a lever you can take a bigger position with the very same amount of money. Both your possible earnings and your potential loss boost when you apply leverage. With each security you can instantly see what the optimum utilize is that you can use.
The presence of an utilize is an advantage in the review of Plus500. You can constantly decide to invest with smaller quantities if you wish to reduce 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 extensive analyses with it. Nevertheless, it works to likewise install the mobile application. With the app you can get cautions when the rate of a security reaches a particular worth.
The mobile application is extremely easy to use and it is great to adjust your orders when market conditions change considerably. The mobile application is therefore a strength in our review of the Plus500 platform.
Trading alternatives at Plus500
In this part of the evaluation we will go over the different 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 instance location a trade on the advancement of the euro versus the dollar.
On Plus500 you can also trade in an extensive variety of CFD shares. The shares are neatly arranged by country, so you can quickly find a share to trade.
It’s also possible to trade in commodities by utilizing CFDs. The most popular commodity for trading is oil. You can frequently apply a maximum leverage of as much as 1:20 to investments in basic materials. When you trade in gold you can use an utilize of 1:20.
On Plus500 you can also sell CFDs on alternatives. Alternatives often move highly: an alternative can in some cases rise or fall in worth by 10s of percent. With CFDs you can use a leverage of as much as 1:20 to alternatives, which further increases your potential gains or losses.
Indices or ETFs
On Plus500 you can likewise sell CFDs on well-known indexes or ETFs. You can for example sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most well-known cryptocurrencies. Cryptocurrencies are very volatile and it can therefore be interesting to actively speculate on their cost advancements. One of the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument accessibility subject to regulations”). Plus500 Points.
Conclusion on the trading options at Plus500
Plus500 has a wide variety of tradable CFD securities. Even fairly unknown local stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all countries. My experience with Plus50 has for that reason been extremely positive.
Support & 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 different illustration alternatives. You can draw horizontal levels to show price levels where the marketplace frequently relocates the opposing instructions.
You can also add technical indications on the graph. The range of technical indications at Plus500 is massive. You can pick from more than 100 various choices. It is a good idea to use technical indications. By using technical indicators, you can carry out much better analyses.
The technical analysis options within the Plus500 software application are substantial. It is bothersome that you can not save several graphs. This means that you need to repeat the examines regularly. Expert financiers would need 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 completely missing out on. There are no courses or webinars offered at Plus500. This is a downside for people who join Plus500 to discover how to trade better.
It is useful that you receive a notice within the Plus500 software application when interesting developments take place. When the price of, for instance, oil falls dramatically, you will receive an alert of this occasion. You can then choose for yourself whether you want to take a position on the marketplace development. Plus500 Points.
Within the Plus500 software you can likewise see how other users sell a security. By taking a look at the positions other traders take, you can see whether there are more purchasers or sellers. Other essential information is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.
Plus500 has a thorough and quick client service that is offered in more than 30 languages. Your issues can be resolved rapidly in your language.
It is suggested to contact customer support via live chat. You can utilize the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved almost 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 available. This makes it impossible to speak directly to somebody. Due to the quick processing time, Plus500 still scores adequately in terms of customer service. Plus500 Points.
Security & reliability
Prior to you deposit money with a company, you naturally wish to know that it is entirely secure to do so. In this part of the evaluation, we take a look at how dependable Plus500 is.
Supervisors guarantee that brokers follow the guidelines. Plus500 is supervised by:
- Plus500UK Ltd authorized & managed by the FCA (# 509909).
- Plus500CY Ltd licensed & 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), licensed by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; authorized financial supplier in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you delight in extra protection if Plus500 declares bankruptcy. This is done through a so-called investor security fund. All client funds are held in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set numerous extra rules to guarantee that your money is as safe and secure as possible on Plus500. Below you can find an introduction of these measurements:
Plus500 will never speculate with consumers’ money. All funds are stored in a different bank account, which suggests that this money is secure when unanticipated things occur with Plus500. And lastly, on Plus500 you are safeguarded versus an unfavorable balance, since he Negative balance protection is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never be left with a recurring debt. Plus500 Points.
Plus500 is 100% no rip-off. Plus500 securely manages consumer properties. The company is likewise supervised. Plus500 has been around since 2008 and is even listed on the London stock market. These are all great signs that Plus500 is dependable and we have pertained to that conclusion ourselves.
About the business
Plus500 was founded in 2008 and has grown highly since then. Plus500 is active in more than 30 countries and served more than 200,000 active clients in 2019. Plus500 executed over 35 million deals with a value of over $1,000 billion in one year. The headquarters of the company can be found in Israel, however they have opened a number of additional offices in other countries. Do you need to know more about the Plus500 business? In this post you will find whatever you require to understand!
Conclusion review Plus500
Plus500 is among the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by utilizing the easy to use software application. On Plus500 you can trade at low rates. You also have the opportunity to respond to changing market conditions by putting orders on both fluctuating costs. Plus500 Points.
Do you want to find how Plus500 works? Instantly open a totally free demo-account by pushing 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