Plus500 Review: our experience with this broker – Plus500 Alon Gonen
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument accessibility subject to guidelines), Forex and stocks. In this substantial review, we share our experiences with this broker. In our test, Plus500 became an easy to use broker where you can respond to the latest market developments at low rates. Plus500 Alon Gonen.
Plus500 Alon Gonen
- At Plus500 you can speculate on price developments at low rates.
- You can sell an extensive variety of CFD shares.
- It is possible to attempt 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 start trading from $100. Plus500 Alon Gonen.
- Plus500 does not supply innovative software application for professional traders.
- You can not find comprehensive analyses within the platform.
- Plus500 customer care 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 demo completely free of charge and without threat? Use the button below to open a demonstration account with this broker:
Plus500 Alon Gonen
We discuss the following topics in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you transfer and withdraw cash?
- Costs: just how much does trading expense on Plus500?
- Performances: what are the possibilities of the software application?
- Trading options: in what securities you trade on Plus500?
- Assistance: what support do you get when trading?
- Client service: what is the quality of the client service? (costumer-service).
- Reliability: Is this broker trustworthy? (dependability).
- Info: more information about Plus500 (information).
- Conclusion: the verdict of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should first go to the Plus500 site. Click here * to open the Plus500 website. To produce a free demo account, you simply need to pick an e-mail address and a password. It is likewise possible to visit with your Facebook or Google account. After you have actually left this information, you can immediately begin trading. Plus500 Alon Gonen.
Plus500 accepts customers from a lot of nations. However, there are likewise 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 score for opening an account. Plus500 Alon Gonen.
Deposit & withdraw money
When you have 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 deposit money into your account by utilizing among these methods:
- Bank transfer.
Before your deposit can be processed, you need to confirm your identity. Plus500 must comply with legislation and can just get validated clients. By confirming brand-new customers, Plus500 prevents clients from utilizing the account for cash laundering.
We have actually gone through the entire procedure and published the required files. Our account was approved and released by Plus500 within an hour. After confirming the identity of your account, you don’t need to do it again. The length of this process depends on your individual 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 checking account or PayPal account. The transfer is made rapidly and the cash will remain in your account within a few days. Plus500 Alon Gonen.
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 complimentary withdrawals a month, after which a cost will be incurred.
Plus500 Alon Gonen
Evaluation of the costs of Plus500
When you start trading with Plus500, you undoubtedly do not desire a big part of your money to be lost to high transaction expenses. In this part of the review, we take a detailed take a look at the fees of trading with Plus500. Listed below we quickly analyze which costs Plus500 passes on to its clients.
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 offers 2 spread mechanisms for its instruments: Dynamic spread which is constantly changed according to the marketplace spread 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, but 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 Alon Gonen.
Forex costs on Plus500
On Plus500 you can sell different currency sets. At the time of writing, you are paying 0.6 pips in transaction 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 drawn out these information on the 2th of June 14:00.).
Cryptocurrency costs 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 advantageous at Plus500. (We have extracted 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 currently pay a spread of $ 0.95, which corresponds to 0.12% of the total worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please note that this is a snapshot on April 20, 2020 at 13:00.).
Financing expenses 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 full amount of the trading position yourself. However, you do need to pay a premium for this.
With each security you will see the over night financing buy and the over night funding offer expenses. In some cases, you in fact receive a premium for short positions. We compared Plus500 with other celebrations for this review and the funding costs were relatively low. Still, it is essential to remember that Plus500 is not really appropriate for long-term trading because of the financing costs you have to pay on a daily basis. Plus500 Alon Gonen.
Other expenses on Plus500
We have thoroughly investigated the expenses for this review, and we have not found any bothersome hidden expenses. You need to ensure that you log in to the platform at least once every three months. If you do not do this, costs for inactivity will be charged. This is the case with the majority of brokers.
Do you have an account with Plus500 and are you not preparing to trade for a while? Then it is a good idea to withdraw the cash from your account.
You can inspect 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 indicates 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 Alon Gonen.
The following additional fees might be applied:
Overnight Funding – The overnight funding amount is either added to or subtracted from your account when holding a position after a certain time (the “Overnight Funding Time”).
The overnight financing time and the day-to-day over night financing portion can be found in the “Details” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Charge – 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 Cost will presently be up to 0.7% of the trade’s realised web revenue and loss and shown in real time into the unrealised net earnings and loss of an employment opportunity.
Lack of exercise Charge – A cost of approximately USD 10 per month will be imposed, need to you not visit to your trading represent a duration of a minimum of 3 months. This charge will be charged when a month from that moment onwards, as long as no login is made to the account. The inactivity fee will amount to the lower of the staying offered balance in your account or USD 10 (or comparable depending on your currency). This is to balance out the cost incurred in making the service available, despite the fact that it has actually not been utilized. Please note that the fee is just gathered from the Genuine Money account and just when there are sufficient offered funds in the account. In order to avoid this fee, just log into your trading account from time to time, as this is deemed enough activity to prevent a charge from being charged.
Surefire Stop Order – if you pick this feature, please note that as it guarantees that your position (trade) closes at a particular asked for rate (rate), the trade undergoes a broader spread.
Conclusion Plus500 costs
The expenses 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 costs on Plus500, we take a closer take a look at the numerous costs you pay when you trade with Plus500.
Plus500 Alon Gonen
Software application & possibilities
When you start trading, we understand that you obviously likewise wish to use a good software package. With Plus500 trading is mainly done by means of the online WebTrader. A great advantage of the WebTrader is the accessibility: you can log in to the platform at any time and from any place 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 rapidly find the CFD in which you want to trade. New clients will for that reason not have to browse long for buy & offer buttons on Plus500. Plus500 Alon Gonen.
Opening a trade
Opening a trade with Plus500 is rather straightforward. It is essential to bear in mind that with Plus500 you always trade in CFDs. With Plus500 you never directly trade in a share. The only thing that determines your result is the distinction between the cost at which you open and close the position.
When you open a position, you have 2 alternatives. You can buy the CFD or you can go short on the CFD. When you purchase the CFD you get a positive result with a rising rate and when you offer the CFD you get a positive outcome with a falling cost. Because you utilize leverage there is a high danger of losing cash rapidly due to utilize.
The option to speculate on a declining rate is a significant advantage within the Plus500 platform. The alternative to short sell increases your flexibility and makes it possible to react to different market circumstances.
Type of orders
With Plus500 you can right away open an order. When you press purchase or sell you will see the screen listed below:
In the order screen you can go into the quantity you wish to trade with. You likewise have the choice to instantly open or close the position after a particular rate has actually been reached. This makes it possible to safeguard you trades when you have to go out. Plus500 Alon Gonen.
It is also possible to position an order with Plus500. You do this by getting in a cost at which you automatically open the CFD position. By utilizing orders, you can attain even better trading outcomes.
Take advantage of
With Plus500 you have the alternative to use a leverage. With a lever you can take a larger position with the exact same amount of money. Both your prospective profit and your potential loss increase when you apply take advantage of. With each security you can instantly see what the maximum take advantage of is that you can apply.
The existence of an utilize is a benefit in the review of Plus500. You can always choose to invest with smaller sized quantities if you want to lower your threat.
On Plus500 you can likewise trade with the mobile application they provide. The mobile application is less substantial than the WebTrader. You can carry out less extensive analyses with it. However, it works to also set up the mobile application. With the app you can get warnings when the cost of a security reaches a particular worth.
The mobile application is extremely easy to use and it is good to adjust your orders when market conditions change substantially. The mobile application is therefore a strength in our review of the Plus500 platform.
Plus500 Alon Gonen
Trading choices at Plus500
In this part of the review we will talk about the different kinds of securities you can trade in with Plus500.
With Plus500 you can trade in CFDs on Forex. When you trade in Forex, you hypothesize on cost changes in currency pairs. You can for instance place a trade on the advancement of the euro versus the dollar.
On Plus500 you can likewise trade in a comprehensive range of CFD shares. The shares are nicely arranged by country, so you can quickly 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 often apply an optimum utilize of approximately 1:20 to investments in basic materials. When you sell gold you can use an utilize of 1:20.
On Plus500 you can likewise trade in CFDs on choices. Options frequently move strongly: an alternative can sometimes rise or fall in value by tens of percent. With CFDs you can use an utilize of as much as 1:20 to choices, which further increases your possible gains or losses.
Indices or ETFs
On Plus500 you can also trade in CFDs on popular indexes or ETFs. You can for instance 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 price developments. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument availability subject to regulations”). Plus500 Alon Gonen.
Conclusion on the trading options at Plus500
Plus500 has a wide range of tradable CFD securities. Even relatively unknown regional stocks can typically be found on the Plus500 platform. This makes Plus500 an appealing broker for financiers from all nations. My experience with Plus50 has actually therefore been really 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 you can utilize different drawing alternatives. You can draw horizontal levels to indicate price levels where the market typically relocates the opposing instructions.
You can also add technical indications on the graph. The range of technical signs at Plus500 is huge. You can pick from more than 100 various choices. It is a good idea to use technical indicators. By utilizing technical indicators, you can carry out better analyses.
The technical analysis alternatives within the Plus500 software are substantial. It is inconvenient that you can not save multiple graphs. This implies that you have to duplicate the analyzes frequently. Professional investors would have 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 and education: at Plus500 these alternatives are completely missing. There are no courses or webinars available at Plus500. This is a downside for individuals who join Plus500 to discover how to trade much better.
It is useful that you receive a notification within the Plus500 software application when interesting advancements take place. When the rate of, for instance, oil falls sharply, you will get a notice of this occasion. You can then decide for yourself whether you want to take a position on the market advancement. Plus500 Alon Gonen.
Within the Plus500 software application you can likewise 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 basic information is missing with Plus500 platform. Plus500 does not score well in the field of research study and education in our viewpoint.
Plus500 has a thorough and quick customer support that is readily available in more than 30 languages. Your problems can be fixed rapidly in your language.
It is recommended to contact customer service via live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be resolved practically immediately.
It is likewise 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 difficult to speak directly to someone. Due to the fast processing time, Plus500 still scores sufficiently in terms of customer care. Plus500 Alon Gonen.
Security & reliability
Prior to you deposit cash with a company, you naturally need to know that it is entirely protected to do so. In this part of the evaluation, we take a look at how dependable Plus500 is.
Supervisors guarantee that brokers adhere to the guidelines. Plus500 is monitored by:
- Plus500UK Ltd licensed & managed by the FCA (# 509909).
- Plus500CY Ltd authorized & controlled 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), certified by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; authorized monetary provider in South Africa, FSP # 47546.
Security of your deposits
Depending on your nationality, you take pleasure in extra defense if Plus500 declares bankruptcy. This is done through a so-called investor protection fund. All customer funds are held in a segregated client savings account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has also set numerous additional guidelines to make sure that your money is as protected as possible on Plus500. Below you can find a summary of these measurements:
Plus500 will never speculate with customers’ money. All funds are stored in a different bank account, which suggests that this money is protected when unexpected things happen with Plus500. And lastly, on Plus500 you are safeguarded versus an unfavorable balance, since he Negative balance security is a regulatory requirement for all EU brokers. When you trade with Plus500, you can never be left with a residual debt. Plus500 Alon Gonen.
Plus500 is 100% no scam. Plus500 firmly manages customer properties. The business is also supervised. Plus500 has been around since 2008 and is even noted on the London stock market. These are all great indications that Plus500 is trusted and we have come to that conclusion ourselves.
Plus500 Alon Gonen
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 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 business can be discovered in Israel, but they have actually opened a number of extra workplaces in other countries. Do you wish to know more about the Plus500 business? In this post you will discover whatever you require to understand!
Conclusion evaluation Plus500
Plus500 is one of the 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 react to altering market conditions by placing orders on both fluctuating prices. Plus500 Alon Gonen.
Do you wish to find how Plus500 works? Instantly open a complimentary demo-account by pushing the button listed 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