Plus500 Review: our experience with this broker – Plus500 Desktop Software
Plus500 is an online broker where you can speculate with CFDs on cryptocurrencies (Instrument availability subject to guidelines), 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 respond to the latest market developments at low rates. Plus500 Desktop Software.
Plus500 Desktop Software
- At Plus500 you can hypothesize on cost developments at low rates.
- You can trade in an extensive variety of CFD shares.
- It is possible to try Plus500 for free with a demonstration.
- On Plus500 you can utilize the user-friendly web trader.
- Plus500 provides its services in more than 30 different languages.
- On Plus500 you can start trading from $100. Plus500 Desktop Software.
- Plus500 does not supply sophisticated software application for professional traders.
- You can not discover substantial analyses within the platform.
- Plus500 customer care is not offered by phone.
- On Plus500 you can only sell CFDs.
Would you like to attempt the possibilities at Plus500 with a demonstration completely free of charge and without danger? Use the button listed below to open a demo account with this broker:
Plus500 Desktop Software
We go over 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?
- Costs: just how much does trading cost on Plus500?
- Performances: what are the possibilities of the software application?
- Trading choices: in what securities you trade on Plus500?
- Support: what assistance do you receive when trading?
- Costumer service: what is the quality of the costumer service? (costumer-service).
- Reliability: Is this broker dependable? (reliability).
- Details: more details about Plus500 (details).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you must initially visit the Plus500 website. Click on this link * to open the Plus500 website. To create a totally free demonstration account, you simply have to pick an e-mail address and a password. It is also possible to log in with your Facebook or Google account. After you have actually left this details, you can instantly start trading. Plus500 Desktop Software.
Plus500 accepts clients from many countries. There are also nationalities that are not confessed to Plus500. Traders from for instance, 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 evaluation, we therefore provide Plus500 a favorable score for opening an account. Plus500 Desktop Software.
Deposit & withdraw money
When you have 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 transfer cash into your account by using one of these techniques:
- Bank transfer.
Before your deposit can be processed, you need to verify your identity. Plus500 should adhere to legislation and can just get confirmed consumers. By verifying new clients, Plus500 avoids 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 do not have to do it again. The length of this process depends on your personal scenario and can be different for each customer.
You can withdraw the cash into your account at any time. You can do this by moving the cash to your bank account or PayPal account. The transfer is made rapidly and the cash will be in your account within a few days. Plus500 Desktop Software.
On Plus500 there are no additional costs for transferring and withdrawing cash. This is a huge advantage of the broker Plus500: numerous other brokers charge a little charge for withdrawing money. Traders can make the most of approximately 5 totally free withdrawals a month, after which a fee will be sustained.
Plus500 Desktop Software
Evaluation of the expenses of Plus500
When you begin trading with Plus500, you undoubtedly do not want a large part of your cash to be lost to high deal costs. In this part of the review, we take a detailed take a look at the costs of trading with Plus500. Listed below we briefly examine which costs Plus500 passes on to its consumers.
With Plus500 you pay a spread over every transaction. The spread is the distinction in between the buy and sell price of a CFD. Plus500 offers two spread systems for its instruments: Dynamic spread which is continuously changed according to the marketplace spread out throughout the duration a position is open vs. a Spread which does not typically change in line with basic market changes while a position is open, but when the marketplace is unstable and illiquid, may alter to a new level so that the underlying market conditions are much better shown. Plus500 intends to provide the tightest possible spreads at all times. Plus500 Desktop Software.
Forex expenses on Plus500
On Plus500 you can trade in various currency sets. At the time of composing, you are paying 0.6 pips in deal costs 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 drawn out these data on the 2th of June 14:00.).
Cryptocurrency expenses on Plus500
On Plus500 you can likewise trade in cryptocurrencies such as Bitcoin. In our evaluation it emerged that at Plus500 you can trade against relatively advantageously fees 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 relatively advantageous at Plus500. (We have actually drawn out these data on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can also sell shares by utilizing CFDs. As an example: For the CFD share Tesla you currently pay a spread of $ 0.95, which relates to 0.12% of the total value. Trading CFD Tesla shares is for that reason possible at a low cost. (Please keep in mind that this is a snapshot on April 20, 2020 at 13:00.).
Funding expenses at Plus500
With Plus500 you have the alternative to trade on margin. Since you can trade on margin, you do not have 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 overnight funding buy and the over night financing offer expenses. Sometimes, you actually receive a premium for short positions. We compared Plus500 with other celebrations for this evaluation and the financing costs were relatively low. Still, it is important to remember that Plus500 is not extremely appropriate for long-term trading because of the funding costs you need to pay every day. Plus500 Desktop Software.
Other costs on Plus500
We have actually thoroughly investigated the expenses for this evaluation, and we have actually not found any bothersome surprise costs. You should guarantee that you log in to the platform at least once every 3 months. If you do not do this, expenses for lack of exercise will be charged. This holds true with the majority of brokers.
Do you have an account with Plus500 and are you not planning to trade for a while? Then it is smart to withdraw the cash from your account.
You can inspect all Costs 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 means 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. Plus500 Desktop Software.
The following additional fees might be applied:
Overnight Funding – The over night funding quantity is either added to or subtracted from your account when holding a position after a specific time (the “Overnight Funding Time”).
The over night funding time and the day-to-day over night financing percentage can be discovered in the “Particulars” link beside the instrument’s name on the main screen of the platform.
Currency Conversion Cost – Plus500 will charge a Currency Conversion Fee for all trades on instruments denominated in a currency various to the currency of your account.
The Currency Conversion Cost will currently be up to 0.7% of the trade’s understood net revenue and loss and reflected in real time into the unrealised net profit and loss of an employment opportunity.
Lack of exercise Fee – A charge of up to USD 10 each month will be imposed, need 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 lack of exercise charge will amount to the lesser of the staying readily available balance in your account or USD 10 (or equivalent depending on your currency). This is to balance out the cost incurred in making the service readily available, even though it has actually not been utilized. Please note that the charge is only collected from the Genuine Money account and just when there are sufficient available funds in the account. In order to avoid this cost, simply log into your trading account from time to time, as this is deemed adequate activity to prevent a charge from being charged.
Guaranteed Stop Order – if you select this function, please note that as it guarantees that your position (trade) closes at a particular asked for rate (rate), the trade undergoes a wider spread.
Conclusion Plus500 fees
The expenses 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 costs on Plus500, we take a closer look at the different costs you pay when you trade with Plus500.
Plus500 Desktop Software
Software & possibilities
When you start trading, we comprehend that you naturally also want to utilize an excellent software package. With Plus500 trading is primarily done through 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 stood out in our review was the user-friendliness of Plus500. The platform looks clear and thanks to the search function you can quickly find the CFD in which you wish to trade. New customers will therefore not have to search long for buy & sell buttons on Plus500. Plus500 Desktop Software.
Opening a trade
Opening a trade with Plus500 is rather simple. It is necessary to keep in mind that with Plus500 you constantly sell CFDs. With Plus500 you never directly sell a share. The only thing that identifies your result is the difference in between the price 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 cost and when you sell the CFD you get a favorable result with a falling cost. Given that you utilize utilize there is a high risk of losing cash rapidly due to leverage.
The choice to speculate on a decreasing rate is a significant benefit within the Plus500 platform. The option to short sell increases your versatility and makes it possible to react to different market circumstances.
Kind of orders
With Plus500 you can immediately open an order. When you push purchase or sell you will see the screen below:
In the order screen you can get in the quantity you wish to trade with. You also have the choice to instantly open or close the position after a certain rate has been reached. This makes it possible to safeguard you trades when you need to go out. Plus500 Desktop Software.
It is likewise possible to position an order with Plus500. You do this by entering a cost at which you automatically open the CFD position. By utilizing orders, you can attain even better trading results.
With Plus500 you have the alternative to apply a take advantage of. With a lever you can take a larger position with the same quantity of money. Both your potential profit and your possible loss increase when you use leverage. With each security you can instantly see what the maximum utilize is that you can use.
The existence of a take advantage of is a benefit in the review of Plus500. You can always choose to invest with smaller amounts if you wish 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. It is beneficial to likewise set up the mobile application. With the app you can get warnings when the cost of a security reaches a specific value.
The mobile application is very easy to use and it is good to change your orders when market conditions change significantly. The mobile application is for that reason a strength in our evaluation of the Plus500 platform.
Plus500 Desktop Software
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 sell Forex, you speculate on price modifications in currency sets. You can for example location a trade on the advancement of the euro against the dollar.
On Plus500 you can also sell an extensive series of CFD shares. The shares are nicely arranged by country, so you can quickly find a share to trade.
It’s likewise possible to trade in commodities by using CFDs. The most popular commodity for trading is oil. You can frequently apply a maximum leverage of up to 1:20 to financial investments in raw materials. When you sell gold you can use an utilize of 1:20.
On Plus500 you can also sell CFDs on choices. Alternatives typically move strongly: a choice can often rise or fall in value by 10s of percent. With CFDs you can use an utilize of approximately 1:20 to alternatives, which even more increases your prospective gains or losses.
Indices or ETFs
On Plus500 you can also 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 very unpredictable and it can therefore be interesting to actively hypothesize on their cost developments. Among the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument accessibility subject to regulations”). Plus500 Desktop Software.
Conclusion on the trading options at Plus500
Plus500 has a large range of tradable CFD securities. Even reasonably unidentified regional stocks can frequently be discovered on the Plus500 platform. This makes Plus500 an attractive broker for investors from all countries. My experience with Plus50 has actually therefore been very positive.
Support & research study
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the charts. Within the software you can utilize various illustration alternatives. You can draw horizontal levels to show price levels where the marketplace often relocates the opposing direction.
You can likewise add technical indications on the chart. The variety of technical indications at Plus500 is huge. You can choose from more than 100 various options. It is a good idea to use technical indicators. By utilizing technical signs, you can carry out better analyses.
The technical analysis options within the Plus500 software are substantial. It is inconvenient that you can not save multiple charts. This suggests that you need to duplicate the examines regularly. Professional investors would need to download other programs to carry out more complex analyses.
Research study and education
In this review we can be quick about the possibilities of research study and education: at Plus500 these choices are completely missing out on. There are no courses or webinars offered at Plus500. This is a drawback for individuals who join Plus500 to find out how to trade better.
It works that you get a notification within the Plus500 software application when intriguing developments take place. When the cost of, for instance, oil falls dramatically, you will receive an alert of this event. You can then decide for yourself whether you wish to take a position on the market advancement. Plus500 Desktop Software.
Within the Plus500 software you can likewise see how other users trade in 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 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 care that is offered in more than 30 languages. Your issues can be solved rapidly in your language.
It is suggested to get in touch with customer care via live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your issues can be resolved almost instantly.
It is likewise possible to email Plus500. Mails are frequently answered within a day. It is a pity that no telephone number is readily available. This makes it difficult to speak straight to somebody. Due to the quick processing time, Plus500 still scores sufficiently in regards to client service. Plus500 Desktop Software.
Security & dependability
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 trusted Plus500 is.
Supervisors ensure that brokers stick to the rules. Plus500 is supervised by:
- Plus500UK Ltd licensed & controlled by the FCA (# 509909).
- Plus500CY Ltd authorized & controlled 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), certified by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; authorized financial service provider in South Africa, FSP # 47546.
Security of your deposits
Depending on your citizenship, you enjoy extra security if Plus500 declares bankruptcy. This is done through a so-called financier defense fund. All customer funds are kept in a segregated client bank account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has also set a number of additional guidelines to guarantee that your cash is as safe and secure as possible on Plus500. Below you can discover an overview of these measurements:
Plus500 will never ever speculate with consumers’ money. All funds are stored in a separate savings account, which suggests that this cash is safe and secure when unexpected things happen 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 ever be entrusted a residual financial obligation. Plus500 Desktop Software.
Plus500 is 100% no rip-off. Plus500 firmly manages customer possessions. The business is likewise supervised. Plus500 has actually been around considering that 2008 and is even noted on the London stock market. These are all excellent signs that Plus500 is trusted and we have concerned that conclusion ourselves.
Plus500 Desktop Software
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 consumers in 2019. Plus500 performed over 35 million deals with a value of over $1,000 billion in one year. The headquarters of the company can be found in Israel, but they have opened numerous extra workplaces in other nations. Do you want to know more about the Plus500 company? In this article you will discover whatever you require to understand!
Conclusion evaluation Plus500
Plus500 is among the best CFD brokers. With Plus500 you can actively trade CFDs on all recognized shares and cryptocurrencies by utilizing the user-friendly 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 Desktop Software.
Do you wish to discover how Plus500 works? Then right away open a totally free 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