Plus500 Review: our experience with this broker – Plus500 Shimon Sofer
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument accessibility subject to regulations), Forex and stocks. In this comprehensive review, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can respond to the current market advancements at low rates. Plus500 Shimon Sofer.
Plus500 Shimon Sofer
- At Plus500 you can hypothesize on price developments at low rates.
- You can trade in a substantial series 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 uses its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Plus500 Shimon Sofer.
- Plus500 does not offer sophisticated software application 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 entirely free of charge and without risk? Use the button listed below to open a demonstration account with this broker:
Plus500 Shimon Sofer
We talk about the following topics in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you deposit and withdraw cash?
- Expenses: how much does trading cost on Plus500?
- Functionalities: what are the possibilities of the software application?
- Trading choices: in what securities you trade on Plus500?
- Support: what assistance do you get when trading?
- Client service: what is the quality of the costumer service? (costumer-service).
- Dependability: Is this broker dependable? (dependability).
- Details: more info about Plus500 (info).
- Conclusion: the verdict of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you need to initially check out the Plus500 site. Click here * to open the Plus500 site. To create a complimentary demonstration account, you just need to select 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 right away start trading. Plus500 Shimon Sofer.
Plus500 accepts customers from a lot of nations. There are also nationalities that are not confessed 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. Plus500 Shimon Sofer.
Deposit & withdraw cash
When you have actually become acquainted with the Plus500 platform, you can switch to a genuine 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.
Prior to your deposit can be processed, you should verify your identity. Plus500 needs to adhere to legislation and can just get verified customers. By confirming new clients, Plus500 prevents clients from utilizing the account for money laundering.
We’ve gone through the whole procedure and published the needed files. Our account was approved and released by Plus500 within an hour. After verifying the identity of your account, you do not need to do it once again. The length of this procedure depends upon your individual scenario and can be different for each client.
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 quickly and the cash will be in your account within a few days. Plus500 Shimon Sofer.
On Plus500 there are no extra costs for transferring and withdrawing cash. This is a big advantage of the broker Plus500: lots of other brokers charge a little fee for withdrawing cash. Traders can make the most of up to 5 totally free withdrawals a month, after which a fee will be incurred.
Plus500 Shimon Sofer
Review of the costs of Plus500
When you start trading with Plus500, you clearly do not desire a large part of your money to be lost to high transaction costs. In this part of the review, we take a detailed take a look at the charges of trading with Plus500. Below we quickly take a look at which costs Plus500 hands down to its clients.
With Plus500 you pay a spread over every transaction. The spread is the distinction in between the buy and sell rate of a CFD. Plus500 provides two spread mechanisms for its instruments: Dynamic spread which is continuously adjusted according to the market spread throughout the period a position is open vs. a Spread which does not normally alter 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 shown. Nevertheless, Plus500 intends to offer the tightest possible spreads at all times. Plus500 Shimon Sofer.
Forex costs 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 costs with those of other companies 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 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 contract. Trading cryptocurrencies is for that reason reasonably advantageous at Plus500. (We have actually drawn out these information on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can also trade in 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 worth. Trading CFD Tesla shares is therefore possible at a low cost. (Please keep in mind 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. Since 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 funding buy and the overnight financing sell costs. In many cases, you really get a premium for short positions. We compared Plus500 with other parties for this evaluation and the financing expenses were relatively low. Still, it is very important to remember that Plus500 is not extremely ideal for long-lasting trading because of the funding fees you have to pay daily. Plus500 Shimon Sofer.
Other expenses on Plus500
We have thoroughly investigated the expenses for this evaluation, and we have actually not discovered any bothersome covert expenses. However, you should make sure that you visit to the platform a minimum of as soon as every three months. If you do not do this, costs for lack of exercise will be charged. This holds true with many brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? It is wise to withdraw the cash from your account.
You can examine all Charges here:
Plus500 is mainly 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 means a market spread of 0.6 pips, in this example). Unlike other provider who also charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Shimon Sofer.
The following extra fees may be used:
Overnight Funding – The over night financing quantity is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The over night financing time and the daily overnight financing portion can be found in the “Particulars” 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 Fee will currently be up to 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 Charge – A cost of approximately USD 10 each month will be levied, ought to you not log in to your trading account for a period of a minimum of three months. This cost will be charged when a month from that minute onwards, as long as no login is made to the account. The lack of exercise fee will amount to the lower of the remaining available balance in your account or USD 10 (or equivalent depending upon your currency). This is to balance out the expense sustained in making the service offered, although it has not been used. Nevertheless, please note that the cost is only collected from the Genuine Cash account and only when there suffice available funds in the account. In order to avoid this cost, merely log into your trading account from time to time, as this is deemed sufficient activity to prevent a cost from being charged.
Guaranteed Stop Order – if you select this function, please note that as it guarantees that your position (trade) closes at a specific requested rate (rate), the trade is subject to a larger 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 post about the expenses on Plus500, we take a closer take a look at the various costs you pay when you trade with Plus500.
Plus500 Shimon Sofer
Software & possibilities
When you start trading, we understand that you obviously likewise wish to utilize an excellent software package. With Plus500 trading is generally done by means of the online WebTrader. A terrific 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 stood 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 wish to trade. New clients will for that reason not need to search long for buy & offer buttons on Plus500. Plus500 Shimon Sofer.
Opening a trade
Opening a trade with Plus500 is rather simple. It is essential to remember that with Plus500 you constantly sell CFDs. With Plus500 you never ever straight sell a share. The only thing that identifies your outcome is the distinction between the cost at which you open and close the position.
When you open a position, you have two options. You can buy the CFD or you can go short on the CFD. When you purchase the CFD you get a favorable result with a rising cost and when you offer the CFD you get a favorable outcome with a falling price. Because you use leverage there is a high risk of losing money quickly due to leverage.
The alternative to speculate on a declining cost is a significant advantage within the Plus500 platform. The option to short sell increases your flexibility and makes it possible to respond to different market circumstances.
Kind of orders
With Plus500 you can immediately open an order. When you press buy or offer you will see the screen listed below:
In the order screen you can enter the quantity you wish to trade with. You likewise have the choice to immediately open or close the position after a specific price has been reached. This makes it possible to safeguard you trades when you have to go out. Plus500 Shimon Sofer.
It is also possible to place an order with Plus500. You do this by going into a rate at which you automatically open the CFD position. By utilizing orders, you can accomplish even better trading outcomes.
With Plus500 you have the alternative to apply a take advantage of. With a lever you can take a larger position with the exact same quantity of money. Both your potential earnings and your prospective loss boost when you use take advantage of. With each security you can immediately see what the maximum take advantage of is that you can use.
The presence of a take advantage of is an advantage in the evaluation of Plus500. You can constantly choose to invest with smaller sized amounts if you want to reduce your danger.
On Plus500 you can likewise trade with the mobile application they offer. The mobile application is less comprehensive than the WebTrader. You can carry out less comprehensive analyses with it. It is helpful to also set up the mobile application. With the app you can get warnings when the price of a security reaches a particular value.
The mobile application is extremely user-friendly and it is great to adjust your orders when market conditions change considerably. The mobile application is for that reason a strength in our evaluation of the Plus500 platform.
Plus500 Shimon Sofer
Trading alternatives at Plus500
In this part of the review we will discuss the various types of securities you can sell with Plus500.
With Plus500 you can trade in CFDs on Forex. When you sell Forex, you hypothesize on rate changes in currency pairs. You can for example location a trade on the development of the euro versus the dollar.
On Plus500 you can likewise trade in an extensive 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 trade in products by using CFDs. The most popular product for trading is oil. You can typically use an optimum utilize of as much as 1:20 to investments in raw materials. When you sell gold you can apply an utilize of 1:20.
On Plus500 you can also trade in CFDs on alternatives. Alternatives frequently move highly: a choice can in some cases rise or fall in value by tens of percent. With CFDs you can use an utilize of approximately 1:20 to choices, which further increases your potential gains or losses.
Indices or ETFs
On Plus500 you can likewise trade in CFDs on widely known 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 famous cryptocurrencies. Cryptocurrencies are very unpredictable and it can therefore be interesting to actively hypothesize on their rate developments. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument schedule subject to guidelines”). Plus500 Shimon Sofer.
Conclusion on the trading alternatives at Plus500
Plus500 has a wide variety of tradable CFD securities. Even reasonably unknown local stocks can frequently be found on the Plus500 platform. This makes Plus500 an attractive broker for financiers from all nations. My experience with Plus50 has actually therefore been extremely favorable.
Assistance & research
In this part of the review, we investigate how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the charts. Within the software you can utilize different drawing alternatives. 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 massive. You can select from more than 100 different alternatives. It is wise to utilize technical indications. By utilizing technical signs, you can carry out better analyses.
The technical analysis options within the Plus500 software application are extensive. Nevertheless, it is bothersome that you can not save multiple graphs. This means that you have to repeat the analyzes frequently. Expert investors would have to download other programs to perform more complex analyses.
Research and education
In this review we can be fast about the possibilities of research and education: at Plus500 these alternatives are entirely missing out on. There are no courses or webinars available at Plus500. This is a downside for people who sign up with Plus500 to discover how to trade better.
It is useful that you get an alert within the Plus500 software when interesting advancements take place. When the price of, for instance, oil falls dramatically, you will receive an alert of this occasion. You can then choose on your own whether you wish to take a position on the market development. Plus500 Shimon Sofer.
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 buyers or sellers. Other essential information is missing out on with Plus500 platform. Plus500 does not score well in the field of research study and education in our opinion.
Plus500 has a detailed and quick customer care that is offered in more than 30 languages. Your issues can be solved 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 using the live chat, your issues can be solved nearly immediately.
It is likewise possible to email Plus500. Mails are typically addressed within a day. It is a pity that no telephone number is offered. This makes it impossible to speak directly to someone. Due to the quick processing time, Plus500 still scores adequately in terms of customer support. Plus500 Shimon Sofer.
Security & dependability
Before you deposit money with a business, you naturally would like to know that it is completely secure to do so. In this part of the evaluation, we look at how reputable Plus500 is.
Supervisors ensure that brokers follow the rules. Plus500 is monitored by:
- Plus500UK Ltd authorized & regulated 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), 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 on your citizenship, you take pleasure in additional protection if Plus500 declares bankruptcy. This is done through a so-called financier defense fund. All client funds are kept in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has likewise set a number of extra rules to ensure that your money is as safe as possible on Plus500. Listed below you can find an introduction of these measurements:
Plus500 will never ever hypothesize with clients’ money. All funds are kept in a different savings account, which indicates that this cash is secure when unexpected things occur with Plus500. And last but not least, on Plus500 you are safeguarded against a negative balance, due to the fact that he Negative balance protection is a regulative requirement for all EU brokers. When you trade with Plus500, you can never ever be left with a recurring financial obligation. Plus500 Shimon Sofer.
Plus500 is 100% no scam. Plus500 firmly manages consumer assets. The business is likewise supervised. Plus500 has been around since 2008 and is even listed on the London stock exchange. These are all good indicators that Plus500 is trusted and we have concerned that conclusion ourselves.
Plus500 Shimon Sofer
About the business
Plus500 was founded in 2008 and has actually grown highly since then. 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 worth of over $1,000 billion in one year. The headquarters of the company can be found in Israel, but they have opened a number of extra offices in other nations. Do you want to know more about the Plus500 company? In this post you will find everything you require to understand!
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 using the easy to use software. On Plus500 you can trade at low rates. You also have the chance to react to altering market conditions by placing orders on both rising and falling prices. Plus500 Shimon Sofer.
Do you want to discover how Plus500 works? Right away open a totally free demo-account by pressing the button below: