Plus500 Review: our experience with this broker – How To Use Plus500 Trading Platform
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument accessibility 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 react to the current market advancements at low rates. How To Use Plus500 Trading Platform.
How To Use Plus500 Trading Platform
- At Plus500 you can hypothesize on price developments at low rates.
- You can sell an extensive range 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 uses its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. How To Use Plus500 Trading Platform.
- Plus500 does not offer sophisticated software application for professional traders.
- You can not find substantial analyses within the platform.
- Plus500 client service is not readily available by phone.
- On Plus500 you can just trade in CFDs.
Would you like to try the possibilities at Plus500 with a demonstration entirely free of charge and without threat? Use the button listed below to open a demonstration account with this broker:
How To Use Plus500 Trading Platform
We talk about the following topics in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you deposit and withdraw cash?
- Expenses: just how much does trading expense on Plus500?
- Performances: what are the possibilities of the software?
- Trading options: in what securities you trade on Plus500?
- Assistance: what support do you get when trading?
- Customer service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker reliable? (dependability).
- Details: more info about Plus500 (details).
- Conclusion: the verdict of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should first go to the Plus500 website. Click on this link * to open the Plus500 site. To produce a totally free demo account, you simply need to select an email address and a password. It is also possible to visit with your Facebook or Google account. After you have left this info, you can right away begin trading. How To Use Plus500 Trading Platform.
Plus500 accepts customers from many nations. Nevertheless, 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 review, we therefore provide Plus500 a favorable rating for opening an account. How To Use Plus500 Trading Platform.
Deposit & withdraw cash
When you have actually become familiar with the Plus500 platform, you can switch to a genuine money account at any time. The minimum deposit at Plus500 is $100. You can deposit cash into your account by utilizing among these approaches:
- Bank transfer.
Prior to your deposit can be processed, you should confirm your identity. Plus500 must comply with legislation and can only receive verified customers. By confirming new clients, Plus500 prevents clients from utilizing the represent cash laundering.
We’ve gone through the whole procedure and published the needed documents. Our account was approved and released by Plus500 within an hour. After confirming the identity of your account, you don’t have to do it again. The length of this procedure depends on your personal scenario and can be various for each client.
You can withdraw the cash 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 quickly and the cash will remain in your account within a few days. How To Use Plus500 Trading Platform.
On Plus500 there are no additional costs for transferring and withdrawing money. This is a big benefit of the broker Plus500: numerous other brokers charge a little fee for withdrawing cash. Traders can take advantage of as much as 5 free withdrawals a month, after which a charge will be incurred.
How To Use Plus500 Trading Platform
Review of the costs of Plus500
When you begin trading with Plus500, you undoubtedly do not want a large part of your money to be lost to high transaction costs. In this part of the evaluation, we take a comprehensive look at the fees of trading with Plus500. Below we briefly analyze which costs Plus500 passes on to its consumers.
With Plus500 you pay a spread over every deal. The spread is the difference in between the buy and sell cost of a CFD. Plus500 uses two spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the market spread throughout the duration 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 marketplace is volatile and illiquid, may alter to a brand-new level so that the underlying market conditions are better shown. However, Plus500 aims to provide the tightest possible spreads at all times. How To Use Plus500 Trading Platform.
Forex expenses on Plus500
On Plus500 you can trade in various currency sets. At the time of writing, you are paying 0.6 pips in deal fees on the pair of EUR/ USD. We compared these expenses with those of other service providers 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 also trade in cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade against relatively 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 reasonably advantageous at Plus500. (We have drawn out these data 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 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 keep in mind that this is a picture on April 20, 2020 at 13:00.).
Financing costs at Plus500
With Plus500 you have the option to trade on margin. Since 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 funding offer expenses. In many cases, you in fact receive a premium for brief positions. We compared Plus500 with other celebrations for this review and the funding costs were reasonably low. Still, it is necessary to keep in mind that Plus500 is not really appropriate for long-lasting trading because of the financing costs you need to pay every day. How To Use Plus500 Trading Platform.
Other costs on Plus500
We have extensively investigated the costs for this evaluation, and we have actually not discovered any frustrating concealed expenses. Nevertheless, you need to guarantee that you log in to the platform a minimum of when every three months. If you do not do this, expenses for inactivity will be charged. This holds true with most brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? It is wise to withdraw the money from your account.
You can check all Fees here:
Plus500 is primarily 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 service providers who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. How To Use Plus500 Trading Platform.
However, the following extra costs may be applied:
Overnight Funding – 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 over night funding time and the day-to-day overnight financing percentage can be found in the “Details” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Cost – 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 Fee will currently be up to 0.7% of the trade’s understood internet profit and loss and reflected in real time into the unrealised net earnings and loss of an employment opportunity.
Inactivity Charge – A charge of approximately USD 10 each month will be levied, should you not visit to your trading account for a duration of at least 3 months. This fee will be charged as soon as a month from that minute onwards, as long as no login is made to the account. The inactivity fee will be equal to the lesser of the remaining offered balance in your account or USD 10 (or comparable depending on your currency). This is to offset the cost sustained in making the service available, although it has not been utilized. However, please note that the cost is only gathered from the Genuine Money account and only when there suffice readily available funds in the account. In order to avoid this cost, just log into your trading account from time to time, as this is considered enough activity to prevent a fee from being charged.
Surefire Stop Order – if you pick this feature, please note that as it ensures that your position (trade) closes at a particular requested rate (price), the trade goes through a larger spread.
Conclusion Plus500 fees
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 short article about the expenses on Plus500, we take a closer take a look at the various costs you pay when you trade with Plus500.
How To Use Plus500 Trading Platform
Software application & possibilities
When you start trading, we understand that you obviously likewise want to use a great software package. With Plus500 trading is generally done via the online WebTrader. A fantastic benefit of the WebTrader is the ease of access: you can log in to the platform at any time and from any area 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 rapidly discover the CFD in which you want to trade. New consumers will therefore not need to browse long for buy & offer buttons on Plus500. How To Use Plus500 Trading Platform.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is necessary to bear in mind that with Plus500 you always sell CFDs. With Plus500 you never directly sell a share. The only thing that identifies 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 options. You can purchase the CFD or you can go short on the CFD. When you purchase the CFD you get a positive result with an increasing cost and when you sell the CFD you get a positive result with a falling price. Given that you utilize leverage there is a high threat of losing money quickly due to utilize.
The choice to speculate on a decreasing rate is a significant advantage within the Plus500 platform. The alternative to brief sell increases your versatility and makes it possible to respond to various market situations.
Kind of orders
With Plus500 you can right away open an order. When you press buy or sell you will see the screen listed below:
In the order screen you can enter the amount you wish to trade with. You also have the alternative to instantly open or close the position after a specific price has been reached. This makes it possible to secure you trades when you need to go out. How To Use Plus500 Trading Platform.
It is also possible to place an order with Plus500. You do this by entering a cost at which you immediately open the CFD position. By utilizing orders, you can attain even much better trading results.
Take advantage of
With Plus500 you have the option to apply a leverage. With a lever you can take a bigger position with the exact same amount of cash. Both your possible profit and your prospective loss boost when you use utilize. With each security you can immediately see what the optimum leverage is that you can use.
The existence of a leverage is an advantage in the evaluation of Plus500. You can always choose to invest with smaller quantities if you want to decrease your danger.
On Plus500 you can likewise trade with the mobile application they use. The mobile application is less extensive than the WebTrader. You can carry out less extensive analyses with it. It is useful to also install the mobile application. With the app you can receive cautions when the cost of a security reaches a certain value.
The mobile application is very easy to use and it is great to adjust your orders when market conditions change substantially. The mobile application is therefore a strength in our evaluation of the Plus500 platform.
How To Use Plus500 Trading Platform
Trading alternatives at Plus500
In this part of the review we will go over the different types of securities you can sell with Plus500.
With Plus500 you can sell CFDs on Forex. When you sell Forex, you hypothesize on price changes in currency sets. You can for instance place a trade on the development of the euro versus the dollar.
On Plus500 you can also trade in a comprehensive variety of CFD shares. The shares are neatly sorted by nation, so you can rapidly find a share to trade.
It’s also possible to sell commodities by utilizing CFDs. The most popular commodity for trading is oil. You can frequently use an optimum leverage of as much as 1:20 to financial investments in raw materials. When you trade in gold you can apply a leverage of 1:20.
On Plus500 you can also trade in CFDs on options. Choices often move strongly: an alternative can in some cases rise or fall in value by tens of percent. With CFDs you can use a leverage of up to 1:20 to alternatives, which further increases your possible gains or losses.
Indices or ETFs
On Plus500 you can likewise sell CFDs on popular indexes or ETFs. You can for instance 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 very volatile and it can for that reason be interesting to actively hypothesize on their rate developments. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument accessibility subject to regulations”). How To Use Plus500 Trading Platform.
Conclusion on the trading alternatives at Plus500
Plus500 has a vast array of tradable CFD securities. Even reasonably unidentified regional stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an appealing broker for investors from all countries. My experience with Plus50 has for that reason been very favorable.
Support & research study
In this part of the evaluation, we examine how Plus500 supports traders.
At Plus500 you can perform 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 typically moves in the opposing instructions.
You can likewise add technical signs on the chart. The series of technical indicators 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 indications, you can perform better analyses.
The technical analysis alternatives within the Plus500 software application are substantial. However, it is bothersome that you can not save numerous charts. This indicates that you need to repeat the evaluates regularly. Expert financiers would have to download other programs to perform more complex analyses.
Research study and education
In this evaluation we can be quick about the possibilities of research and education: at Plus500 these alternatives are entirely missing out on. There are no courses or webinars offered at Plus500. This is a downside for individuals who sign up with Plus500 to discover how to trade better.
It works that you get an alert within the Plus500 software application when interesting developments take place. When the rate of, for example, oil falls dramatically, you will get a notice of this occasion. You can then decide for yourself whether you want to take a position on the market development. How To Use Plus500 Trading Platform.
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 purchasers 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 fast customer care that is available in more than 30 languages. Your problems can be fixed quickly in your language.
It is recommended to call customer care through live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be fixed nearly instantly.
It is also possible to email Plus500. Mails are frequently responded to within a day. It is a pity that no phone number is available. This makes it difficult to speak straight to someone. Due to the fast processing time, Plus500 still ratings sufficiently in regards to client service. How To Use Plus500 Trading Platform.
Security & reliability
Prior to you transfer money with a business, you naturally wish to know that it is totally safe and secure to do so. In this part of the evaluation, we take a look at how reliable Plus500 is.
Supervisors guarantee that brokers abide by the guidelines. Plus500 is monitored by:
- Plus500UK Ltd authorized & controlled by the FCA (# 509909).
- Plus500CY Ltd licensed & regulated by the CySEC (# 250/14).
- Plus500SG Pte Ltd, accredited 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 financial provider in South Africa, FSP # 47546.
Security of your deposits
Depending upon your citizenship, you enjoy additional defense if Plus500 declares bankruptcy. This is done through a so-called financier protection fund. All customer funds are kept in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has also set numerous extra rules to guarantee that your cash is as safe as possible on Plus500. Below you can discover a summary of these measurements:
Plus500 will never speculate with consumers’ money. All funds are stored in a separate bank account, which suggests that this cash is safe and secure when unexpected things occur with Plus500. And finally, on Plus500 you are secured against an unfavorable balance, due to the fact that he Negative balance protection is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted to a recurring financial obligation. How To Use Plus500 Trading Platform.
Plus500 is 100% no fraud. Plus500 securely manages customer assets. The business is also monitored. Plus500 has been around given that 2008 and is even listed on the London stock market. These are all excellent indications that Plus500 is reputable and we have concerned that conclusion ourselves.
How To Use Plus500 Trading Platform
About the company
Plus500 was founded in 2008 and has grown highly ever since. Plus500 is active in more than 30 nations and served more than 200,000 active consumers in 2019. Plus500 carried out over 35 million transactions with a value of over $1,000 billion in one year. The headquarters of the company can be found in Israel, but they have actually opened several extra 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 understand!
Conclusion review Plus500
Plus500 is among the very best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by utilizing the user-friendly software application. On Plus500 you can trade at low rates. You likewise have the opportunity to respond to changing market conditions by positioning orders on both fluctuating rates. How To Use Plus500 Trading Platform.
Do you want to discover how Plus500 works? Instantly open a complimentary demo-account by pushing the button below: