Plus500 Review: our experience with this broker – Shimon Sofer Plus500
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument accessibility subject to regulations), Forex and stocks. In this substantial evaluation, we share our experiences with this broker. In our test, Plus500 emerged as an user-friendly broker where you can respond to the current market developments at low rates. Shimon Sofer Plus500.
Shimon Sofer Plus500
- At Plus500 you can hypothesize on cost developments at low rates.
- You can sell an extensive series of CFD shares.
- It is possible to attempt Plus500 totally free with a demonstration.
- On Plus500 you can use the easy to use web trader.
- Plus500 offers its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Shimon Sofer Plus500.
- Plus500 does not offer sophisticated software for expert traders.
- You can not find extensive analyses within the platform.
- Plus500 customer support is not readily available by phone.
- On Plus500 you can just sell CFDs.
Would you like to try the possibilities at Plus500 with a demonstration entirely free of charge and without danger? Use the button below to open a demonstration account with this broker:
Shimon Sofer Plus500
We discuss the following subjects in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw money?
- Expenses: how much does trading cost on Plus500?
- Performances: what are the possibilities of the software?
- Trading choices: in what securities you trade on Plus500?
- Support: what support do you receive when trading?
- Customer service: what is the quality of the client service? (costumer-service).
- Dependability: Is this broker dependable? (dependability).
- Details: more details about Plus500 (details).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should first go to the Plus500 website. Click here * to open the Plus500 website. To develop a totally free demonstration account, you simply need to choose an e-mail address and a password. It is also possible to visit with your Facebook or Google account. After you have actually left this info, you can instantly start trading. Shimon Sofer Plus500.
Plus500 accepts customers from most nations. Nevertheless, 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 evaluation, we therefore give Plus500 a favorable rating for opening an account. Shimon Sofer Plus500.
Deposit & withdraw money
When you have become 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 deposit money into your account by utilizing one of these techniques:
- Bank transfer.
Prior to your deposit can be processed, you need to validate your identity. Plus500 should abide by legislation and can just receive validated consumers. By confirming new customers, Plus500 avoids clients from using the represent money laundering.
We have actually gone through the entire procedure and submitted the needed files. Our account was authorized and released by Plus500 within an hour. After validating the identity of your account, you don’t have to do it once again. The length of this procedure depends upon your personal situation 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 money to your bank account or PayPal account. The transfer is made rapidly and the money will remain in your account within a couple of days. Shimon Sofer Plus500.
On Plus500 there are no additional expenses for depositing and withdrawing money. This is a big benefit of the broker Plus500: numerous other brokers charge a little charge for withdrawing money. Traders can benefit from up to 5 complimentary withdrawals a month, after which a charge will be incurred.
Shimon Sofer Plus500
Review of the costs of Plus500
When you begin trading with Plus500, you clearly do not want a large part of your cash to be lost to high transaction costs. In this part of the review, we take a detailed look at the costs of trading with Plus500. Below we quickly analyze 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 systems for its instruments: Dynamic spread which is continuously adjusted according to the marketplace spread throughout the period a position is open vs. a Spread which does not usually alter in line with general market variations while a position is open, but when the market is unpredictable and illiquid, may alter to a new level so that the underlying market conditions are much better reflected. Plus500 intends to offer the tightest possible spreads at all times. Shimon Sofer Plus500.
Forex expenses on Plus500
On Plus500 you can trade in different currency sets. At the time of composing, you are paying 0.6 pips in deal 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 extracted these data on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade against relatively advantageously costs 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 fairly useful at Plus500. (We have extracted these data on the 2th of June 14:00.).
Share expenses 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 relates to 0.12% of the overall 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 costs at Plus500
With Plus500 you have the option to trade on margin. Due to the fact that you can trade on margin, you do not need 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 financing buy and the overnight funding offer expenses. In some cases, you actually get a premium for short positions. We compared Plus500 with other parties for this evaluation and the funding costs were fairly low. Still, it is necessary to remember that Plus500 is not extremely appropriate for long-lasting trading because of the funding fees you need to pay daily. Shimon Sofer Plus500.
Other costs on Plus500
We have actually thoroughly examined the expenses for this evaluation, and we have not found any annoying surprise costs. However, you must ensure that you log in to the platform at least once every 3 months. If you don’t do this, expenses for lack of exercise will be charged. This is the case with most brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? Then it is wise to withdraw the money from your account.
You can inspect all Fees here:
Plus500 is mainly 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 implies a market spread of 0.6 pips, in this example). Unlike other company who also charge commissions on each trade, Plus500 does not charge dealing commissions. Shimon Sofer Plus500.
However, the following extra fees may be used:
Overnight Funding – The overnight funding quantity is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Funding Time”).
The over night financing time and the daily overnight financing portion can be discovered in the “Details” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Fee – 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 presently depend on 0.7% of the trade’s understood internet revenue and loss and reflected in real time into the unrealised net revenue and loss of an employment opportunity.
Lack of exercise Charge – A charge of as much as USD 10 monthly will be imposed, ought to you not visit to your trading account for a duration of a minimum of three months. This fee will be charged once a month from that moment onwards, as long as no login is made to the account. The inactivity charge will amount to the lower of the remaining readily available 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, despite the fact that it has actually not been utilized. Nevertheless, please note that the charge is only gathered from the Genuine Money account and just when there suffice offered funds in the account. In order to avoid this charge, just log into your trading account from time to time, as this is deemed adequate activity to prevent a fee from being charged.
Surefire Stop Order – if you choose this function, please note that as it ensures that your position (trade) closes at a particular asked for rate (price), the trade is subject to a wider spread.
Conclusion Plus500 charges
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 article about the expenses on Plus500, we take a closer look at the various expenses you pay when you trade with Plus500.
Shimon Sofer Plus500
Software application & possibilities
When you begin trading, we comprehend that you of course also wish to use a great software package. With Plus500 trading is primarily done through the online WebTrader. A terrific advantage of the WebTrader is the availability: you can log in 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 wish to trade. New consumers will for that reason not need to search wish for buy & offer buttons on Plus500. Shimon Sofer 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 ever straight sell a share. The only thing that identifies your outcome is the difference in between the rate at which you open and close the position.
When you open a position, you have two choices. You can purchase the CFD or you can go short on the CFD. When you buy the CFD you get a favorable outcome with an increasing rate and when you offer the CFD you get a favorable outcome with a falling rate. Since you utilize utilize there is a high threat of losing cash rapidly due to leverage.
The alternative to hypothesize on a declining price is a major benefit within the Plus500 platform. The option to brief sell increases your flexibility and makes it possible to react to various market circumstances.
Kind of orders
With Plus500 you can instantly open an order. When you press purchase or sell you will see the screen below:
In the order screen you can go into the amount you wish to trade with. You likewise have the alternative to instantly open or close the position after a certain rate has actually been reached. This makes it possible to secure you trades when you have to go out. Shimon Sofer Plus500.
It is also possible to put an order with Plus500. You do this by getting in a cost at which you instantly open the CFD position. By utilizing orders, you can accomplish even better trading results.
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 quantity of money. Both your possible revenue and your prospective loss boost when you apply leverage. With each security you can immediately see what the maximum take advantage of is that you can apply.
The presence of an utilize is a benefit in the evaluation of Plus500. You can constantly choose to invest with smaller sized amounts if you wish to reduce your threat.
On Plus500 you can likewise trade with the mobile application they offer. The mobile application is less substantial than the WebTrader. You can perform less substantial analyses with it. It is helpful to also install the mobile application. With the app you can receive warnings when the cost of a security reaches a certain value.
The mobile application is really easy to use and it is good to adjust your orders when market conditions change significantly. The mobile application is therefore a strong point in our review of the Plus500 platform.
Shimon Sofer Plus500
Trading alternatives at Plus500
In this part of the evaluation we will talk about the various kinds of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell 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 sell a substantial variety of CFD shares. The shares are neatly arranged by country, so you can quickly discover a share to trade.
It’s likewise possible to sell commodities by utilizing CFDs. The most popular product for trading is oil. You can often apply an optimum utilize of approximately 1:20 to financial investments in basic materials. When you trade in gold you can use an utilize of 1:20.
On Plus500 you can also trade in CFDs on options. Options typically move highly: a choice can often increase or fall in worth by 10s of percent. With CFDs you can apply a leverage of up to 1:20 to alternatives, which further increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can likewise trade in CFDs on well-known indexes or ETFs. You can for example sell the Dow Jones or NASDAQ index trackers.
At Plus500 you can likewise trade with CFDs in the most well-known cryptocurrencies. Cryptocurrencies are really volatile and it can for that reason be interesting to actively hypothesize on their cost advancements. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to guidelines”). Shimon Sofer Plus500.
Conclusion on the trading options at Plus500
Plus500 has a wide variety of tradable CFD securities. Even reasonably unidentified local stocks can often be found on the Plus500 platform. This makes Plus500 an appealing broker for investors from all nations. My experience with Plus50 has for that reason been really positive.
Assistance & research study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can perform technical analyses on the graphs. Within the software application you can utilize different illustration options. You can draw horizontal levels to suggest price levels where the market often relocates the opposing instructions.
You can also add technical indicators on the graph. The series of technical indications at Plus500 is enormous. You can select from more than 100 various options. It is wise to utilize technical signs. By utilizing technical indicators, you can execute better analyses.
The technical analysis alternatives within the Plus500 software are extensive. Nevertheless, it is troublesome that you can not conserve numerous charts. This means that you have to repeat the analyzes frequently. Expert financiers would need to download other programs to carry out more complex analyses.
Research study and education
In this evaluation we can be fast about the possibilities of research and education: at Plus500 these alternatives are totally missing out on. There are no courses or webinars readily available at Plus500. This is a drawback for people who join Plus500 to discover how to trade much better.
It works that you receive a notice within the Plus500 software application when intriguing developments happen. When the price of, for example, oil falls sharply, you will receive an alert of this event. You can then decide for yourself whether you want to take a position on the marketplace advancement. Shimon Sofer Plus500.
Within the Plus500 software application 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 buyers or sellers. Other essential data is missing out on with Plus500 platform. Plus500 does not score well in the field of research study and education in our viewpoint.
Plus500 has a comprehensive and quick customer care that is offered in more than 30 languages. Your issues can be fixed rapidly in your language.
It is recommended to get in touch with customer support by means of live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be solved practically immediately.
It is also possible to email Plus500. Mails are typically answered within a day. It is a pity that no telephone number is readily available. This makes it impossible to speak straight to someone. Due to the fast processing time, Plus500 still scores adequately in terms of customer care. Shimon Sofer Plus500.
Security & dependability
Before you transfer money with a business, you naturally want to know that it is totally safe to do so. In this part of the review, we look at how dependable Plus500 is.
Supervisors make sure that brokers stick to the rules. Plus500 is supervised by:
- Plus500UK Ltd authorized & managed by the FCA (# 509909).
- Plus500CY Ltd authorized & regulated by the CySEC (# 250/14).
- Plus500SG Pte Ltd, licensed 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 enjoy additional protection if Plus500 goes bankrupt. This is done through a so-called financier protection fund. All client funds are kept in a segregated customer savings account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has also set a number of additional guidelines to ensure that your money is as safe as possible on Plus500. Listed below you can discover an introduction of these measurements:
Plus500 will never hypothesize with consumers’ cash. All funds are saved in a separate checking account, which suggests that this cash is safe and secure when unexpected things occur with Plus500. And finally, on Plus500 you are safeguarded versus a negative balance, because he Negative balance protection is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never be left with a recurring debt. Shimon Sofer Plus500.
Plus500 is 100% no fraud. Plus500 securely manages client assets. The business is likewise supervised. Plus500 has actually been around considering that 2008 and is even listed on the London stock market. These are all great indications that Plus500 is reliable and we have pertained to that conclusion ourselves.
Shimon Sofer Plus500
About the business
Plus500 was founded in 2008 and has grown strongly since then. Plus500 is active in more than 30 nations and served more than 200,000 active clients in 2019. Plus500 executed over 35 million transactions with a value of over $1,000 billion in one year. The head office of the business can be discovered in Israel, however they have actually opened a number of extra workplaces in other countries. Do you would like to know more about the Plus500 business? In this post you will discover whatever you need to know!
Conclusion review Plus500
Plus500 is one of the very best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by utilizing the user-friendly software application. On Plus500 you can trade at low rates. You likewise have the chance to respond to altering market conditions by putting orders on both fluctuating rates. Shimon Sofer Plus500.
Do you wish to find how Plus500 works? Immediately open a free demo-account by pushing the button below: