Plus500 Review: our experience with this broker – Robinhood Vs Plus500
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument schedule subject to guidelines), Forex and stocks. In this comprehensive 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 most recent market advancements at low rates. Robinhood Vs Plus500.
Robinhood Vs Plus500
- At Plus500 you can hypothesize on rate developments at low rates.
- You can trade in a substantial variety of CFD shares.
- It is possible to attempt Plus500 free of charge with a demonstration.
- On Plus500 you can utilize the easy to use web trader.
- Plus500 offers its services in more than 30 different languages.
- On Plus500 you can begin trading from $100. Robinhood Vs Plus500.
- Plus500 does not provide advanced software for expert traders.
- You can not discover substantial analyses within the platform.
- Plus500 customer service is not readily available by phone.
- On Plus500 you can only trade in CFDs.
Would you like to try the possibilities at Plus500 with a demonstration completely free of charge and without risk? Utilize the button below to open a demo account with this broker:
Robinhood Vs Plus500
We discuss the following topics in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you deposit and withdraw cash?
- Costs: how much does trading cost on Plus500?
- Functionalities: what are the possibilities of the software?
- Trading alternatives: in what securities you trade on Plus500?
- Support: what support do you get when trading?
- Customer service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker reputable? (reliability).
- Details: more info about Plus500 (info).
- Conclusion: the verdict of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you should initially go to the Plus500 site. Click here * to open the Plus500 website. To develop a free demonstration account, you just need to pick an email address and a password. It is likewise possible to log in with your Facebook or Google account. After you have left this information, you can right away begin trading. Robinhood Vs Plus500.
Plus500 accepts consumers from a lot of countries. There are also citizenships that are not admitted to Plus500. Traders from for example, 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 review, we therefore provide Plus500 a positive ranking for opening an account. Robinhood Vs Plus500.
Deposit & withdraw money
When you have ended up being acquainted with the Plus500 platform, you can switch to a real cash account at any time. The minimum deposit at Plus500 is $100. You can transfer cash into your account by utilizing among these methods:
- Bank transfer.
Before your deposit can be processed, you should validate your identity. Plus500 needs to adhere to legislation and can just get validated consumers. By validating brand-new customers, Plus500 prevents costumers from using the account for money laundering.
We’ve 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 don’t have to do it once again. The length of this procedure depends on your personal scenario and can be different for each client.
You can withdraw the cash 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 cash will be in your account within a few days. Robinhood Vs Plus500.
On Plus500 there are no additional costs for depositing and withdrawing cash. This is a huge benefit of the broker Plus500: many other brokers charge a little cost for withdrawing money. Traders can take advantage of as much as 5 free withdrawals a month, after which a cost will be sustained.
Robinhood Vs Plus500
Evaluation of the expenses of Plus500
When you begin trading with Plus500, you clearly do not desire a big part of your money to be lost to high deal costs. In this part of the review, we take a comprehensive take a look at the fees of trading with Plus500. Listed below we briefly examine 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 cost of a CFD. Plus500 uses two spread systems for its instruments: Dynamic spread which is constantly changed according to the market spread out during the duration a position is open vs. a Spread which does not usually alter in line with basic market fluctuations while a position is open, however when the market is unpredictable and illiquid, might alter to a new level so that the underlying market conditions are much better reflected. Nevertheless, Plus500 aims to provide the tightest possible spreads at all times. Robinhood Vs Plus500.
Forex costs on Plus500
On Plus500 you can trade in various currency pairs. At the time of writing, you are paying 0.6 pips in deal costs on the pair of EUR/ USD. We compared these expenses with those of other companies and concluded that these expenses are comparable to those of other brokers. (We have actually drawn out these information on the 2th of June 14:00.).
Cryptocurrency costs 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 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 contract. Trading cryptocurrencies is for that reason reasonably helpful at Plus500. (We have actually extracted these information on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can likewise sell shares by using CFDs. As an example: For the CFD share Tesla you presently pay a spread of $ 0.95, which relates to 0.12% of the total 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 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. However, you do need to pay a premium for this.
With each security you will see the overnight funding buy and the overnight funding offer costs. In some cases, you actually receive a premium for short positions. We compared Plus500 with other parties for this evaluation and the funding expenses were relatively low. Still, it is essential to remember that Plus500 is not really suitable for long-term trading because of the financing fees you have to pay every day. Robinhood Vs Plus500.
Other costs on Plus500
We have thoroughly examined the expenses for this review, and we have not found any annoying hidden costs. You should guarantee that you log in to the platform at least as soon as every three months. If you don’t do this, expenses for inactivity 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 smart to withdraw the cash from your account.
You can examine all Fees here:
Plus500 is generally 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 suggests 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. Robinhood Vs Plus500.
Nevertheless, the following extra fees might be applied:
Overnight Funding – The over night financing quantity is either added to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The overnight financing time and the day-to-day overnight funding 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 various to the currency of your account.
The Currency Conversion Fee will presently be up to 0.7% of the trade’s realised net profit and loss and shown in real time into the unrealised net earnings and loss of an employment opportunity.
Lack of exercise Charge – A charge of up to USD 10 per month will be imposed, need to you not log in to your trading represent a duration of at least three months. This cost will be charged once a month from that minute onwards, as long as no login is made to the account. The inactivity cost will amount to the lower of the staying readily available balance in your account or USD 10 (or comparable depending on your currency). This is to offset the expense incurred in making the service readily available, although it has actually not been utilized. Please note that the cost is only collected from the Real Cash account and only when there are adequate readily available funds in the account. In order to avoid this charge, just log into your trading account from time to time, as this is considered enough activity to prevent a charge from being charged.
Surefire Stop Order – if you select 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 wider 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 short article about the costs on Plus500, we take a closer look at the various expenses you pay when you trade with Plus500.
Robinhood Vs Plus500
Software & possibilities
When you start trading, we comprehend that you naturally also wish to use an excellent software package. With Plus500 trading is primarily done via the online WebTrader. A great benefit of the WebTrader is the availability: you can visit to the platform at any time and from any place 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 quickly discover the CFD in which you want to trade. New customers will for that reason not need to browse wish for purchase & sell buttons on Plus500. Robinhood Vs Plus500.
Opening a trade
Opening a trade with Plus500 is rather simple. It is very important to bear in mind that with Plus500 you always trade in CFDs. With Plus500 you never straight trade in a share. The only thing that determines your outcome is the distinction in between the rate at which you open and close the position.
When you open a position, you have two alternatives. 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 cost and when you offer the CFD you get a positive outcome with a falling price. Since you use utilize there is a high threat of losing money quickly due to leverage.
The alternative to hypothesize on a decreasing cost is a major advantage within the Plus500 platform. The option to short sell increases your versatility and makes it possible to react to different market situations.
Kind of orders
With Plus500 you can right away open an order. When you press purchase or offer you will see the screen listed below:
In the order screen you can go into the amount you want 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 protect you trades when you have to go out. Robinhood Vs Plus500.
It is likewise possible to place an order with Plus500. You do this by entering a price at which you automatically open the CFD position. By utilizing orders, you can achieve even much better trading outcomes.
Take advantage of
With Plus500 you have the option to apply a take advantage of. With a lever you can take a bigger position with the same quantity of cash. Both your potential earnings and your possible loss boost when you use leverage. With each security you can immediately see what the maximum leverage is that you can use.
The existence of a leverage is a benefit in the review of Plus500. You can constantly decide to invest with smaller sized quantities if you wish to reduce your threat.
On Plus500 you can also trade with the mobile application they use. The mobile application is less substantial than the WebTrader. You can perform less substantial analyses with it. It is useful to likewise install the mobile application. With the app you can receive warnings when the rate of a security reaches a certain value.
The mobile application is extremely user-friendly and it is excellent to change your orders when market conditions change significantly. The mobile application is therefore a strength in our review of the Plus500 platform.
Robinhood Vs Plus500
Trading choices at Plus500
In this part of the evaluation we will go over the different kinds of securities you can sell with Plus500.
With Plus500 you can sell CFDs on Forex. When you trade in Forex, you hypothesize on cost changes in currency pairs. You can for example place 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 sorted by country, 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 frequently use an optimum utilize of up to 1:20 to financial investments in basic materials. When you sell gold you can apply an utilize of 1:20.
On Plus500 you can likewise trade in CFDs on choices. Alternatives typically move highly: a choice can sometimes increase or fall in value by 10s of percent. With CFDs you can apply an utilize of approximately 1:20 to choices, which further increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on popular indexes or ETFs. You can for example trade in the Dow Jones or NASDAQ index trackers.
At Plus500 you can also trade with CFDs in the most well-known cryptocurrencies. Cryptocurrencies are really volatile and it can therefore be interesting to actively speculate on their price developments. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to regulations”). Robinhood Vs Plus500.
Conclusion on the trading choices at Plus500
Plus500 has a large range of tradable CFD securities. Even reasonably unknown local stocks can often be discovered on the Plus500 platform. This makes Plus500 an attractive broker for financiers from all countries. My experience with Plus50 has actually therefore been really favorable.
Support & research study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the charts. Within the software you can utilize various drawing options. You can draw horizontal levels to indicate price levels where the market typically moves in the opposing direction.
You can also include technical indications on the graph. The range of technical indicators at Plus500 is enormous. You can pick from more than 100 various alternatives. It is wise to use technical indicators. By using technical indications, you can carry out much better analyses.
The technical analysis choices within the Plus500 software are extensive. It is inconvenient that you can not save multiple graphs. This indicates that you need to repeat the analyzes routinely. Expert financiers would need to download other programs to carry out more complex analyses.
Research study and education
In this evaluation we can be quick about the possibilities of research study and education: at Plus500 these choices are totally missing out on. There are no courses or webinars readily available at Plus500. This is a downside for people who join Plus500 to discover how to trade better.
It is useful that you get a notice within the Plus500 software when fascinating advancements take place. When the cost of, for example, oil falls sharply, you will receive a notification of this event. You can then decide for yourself whether you wish to take a position on the market development. Robinhood Vs Plus500.
Within the Plus500 software application you can likewise see how other users sell a security. By looking at the positions other traders take, you can see whether there are more purchasers or sellers. Other basic 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 a thorough and fast customer service that is readily available in more than 30 languages. Your problems can be solved rapidly in your language.
It is recommended to call customer support through live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be fixed almost immediately.
It is also possible to email Plus500. Mails are frequently responded to within a day. It is a pity that no telephone number is available. This makes it difficult to speak directly to somebody. Due to the quick processing time, Plus500 still scores adequately in regards to customer support. Robinhood Vs Plus500.
Security & reliability
Before you transfer cash with a company, you naturally wish to know that it is totally safe and secure to do so. In this part of the review, we take a look at how trusted Plus500 is.
Supervisors guarantee that brokers abide by the guidelines. Plus500 is supervised by:
- Plus500UK Ltd authorized & managed by the FCA (# 509909).
- Plus500CY Ltd authorized & managed 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; licensed monetary supplier in South Africa, FSP # 47546.
Security of your deposits
Depending on your citizenship, you delight in additional defense if Plus500 declares bankruptcy. This is done through a so-called investor security fund. All client funds are held in a segregated customer bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set numerous extra guidelines to make sure that your money is as safe as possible on Plus500. Below you can find an overview of these measurements:
Plus500 will never ever speculate with clients’ cash. All funds are kept in a different savings account, which indicates that this cash is protected when unexpected things occur with Plus500. And lastly, on Plus500 you are safeguarded against a negative balance, since he Negative balance security is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted a recurring debt. Robinhood Vs Plus500.
Plus500 is 100% no rip-off. Plus500 safely manages customer properties. The company is likewise monitored. Plus500 has been around because 2008 and is even listed on the London stock exchange. These are all excellent indications that Plus500 is trustworthy and we have actually concerned that conclusion ourselves.
Robinhood Vs Plus500
About the business
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 performed over 35 million transactions with a value of over $1,000 billion in one year. The headquarters of the business can be found in Israel, however they have opened a number of additional offices in other nations. Do you would like to know more about the Plus500 company? In this post you will discover everything you need to know!
Conclusion review Plus500
Plus500 is one of the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by utilizing the easy to use software. On Plus500 you can trade at low rates. You likewise have the chance to react to altering market conditions by placing orders on both rising and falling prices. Robinhood Vs Plus500.
Do you wish to discover how Plus500 works? Right away open a complimentary demo-account by pressing the button below: