Plus500 Review: our experience with this broker – Plus500 Futures
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability subject to regulations), Forex and stocks. In this extensive review, we share our experiences with this broker. In our test, Plus500 emerged as an easy to use broker where you can react to the current market advancements at low rates. Plus500 Futures.
- At Plus500 you can hypothesize on price developments at low rates.
- You can trade in an extensive variety of CFD shares.
- It is possible to attempt Plus500 free of charge with a demonstration.
- On Plus500 you can use the user-friendly web trader.
- Plus500 offers its services in more than 30 various languages.
- On Plus500 you can start trading from $100. Plus500 Futures.
- Plus500 does not offer innovative software for professional traders.
- You can not discover comprehensive analyses within the platform.
- Plus500 customer 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 completely free of charge and without danger? Utilize the button listed below to open a demo account with this broker:
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79% of retail CFD accounts lose money
We discuss the following subjects in the Plus500 evaluation:
- Open account: how can you open an account with Plus500?
- Deposit money: how can you deposit and withdraw cash?
- Costs: just how much does trading expense on Plus500?
- Functionalities: what are the possibilities of the software?
- Trading options: in what securities you trade on Plus500?
- Support: what assistance do you receive when trading?
- Costumer service: what is the quality of the customer service? (costumer-service).
- Reliability: Is this broker trustworthy? (reliability).
- Information: more info about Plus500 (info).
- Conclusion: the decision of the Plus500 evaluation (conclusion).
Opening an account with Plus500
To do this you should initially go to the Plus500 website. Click here * to open the Plus500 website. To develop a totally free demo account, you simply need to choose 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 instantly start trading. Plus500 Futures.
Plus500 accepts clients from the majority of nations. However, there are likewise citizenships that are not admitted 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 review, we therefore provide Plus500 a positive rating for opening an account. Plus500 Futures.
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 among these methods:
- Bank transfer.
Prior to your deposit can be processed, you should confirm your identity. Plus500 must comply with legislation and can only receive verified clients. By confirming brand-new costumers, Plus500 avoids customers from using the account for cash laundering.
We’ve gone through the entire procedure and submitted the needed documents. Our account was approved and released by Plus500 within an hour. After validating the identity of your account, you don’t need to do it once again. The length of this procedure depends upon your personal scenario and can be various for each costumer.
You can withdraw the money into your account at any time. You can do this by moving the money to your savings account or PayPal account. The transfer is made rapidly and the cash will remain in your account within a few days. Plus500 Futures.
On Plus500 there are no additional costs for depositing and withdrawing cash. This is a big advantage of the broker Plus500: many other brokers charge a little fee for withdrawing cash. Traders can benefit from up to 5 totally free withdrawals a month, after which a charge will be incurred.
–>> Open Demo Account here <<–
79% of retail CFD accounts lose money
Review of the expenses of Plus500
When you begin trading with Plus500, you obviously do not desire a big part of your cash to be lost to high deal costs. In this part of the evaluation, we take a comprehensive look at the costs of trading with Plus500. Below we briefly take a look at which costs Plus500 hands down to its clients.
With Plus500 you pay a spread over every deal. The spread is the distinction between the buy and sell rate of a CFD. Plus500 uses 2 spread systems for its instruments: Dynamic spread which is constantly changed according to the market spread during the period a position is open vs. a Spread which does not usually alter in line with basic market changes while a position is open, however when the marketplace is unstable and illiquid, might change to a new level so that the underlying market conditions are much better shown. Plus500 intends to offer the tightest possible spreads at all times. Plus500 Futures.
Forex costs on Plus500
On Plus500 you can trade in 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 companies and concluded that these costs are comparable to those of other brokers. (We have extracted 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 versus fairly 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 for that reason fairly beneficial at Plus500. (We have actually drawn out these information on the 2th of June 14:00.).
Share expenses on Plus500
At Plus500 you can likewise sell 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 overall value. Trading CFD Tesla shares is for that reason possible at a low cost. (Please keep in mind that this is a photo on April 20, 2020 at 13:00.).
Funding expenses at Plus500
With Plus500 you have the option to trade on margin. Because 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 sell expenses. In many cases, you really receive a premium for short positions. We compared Plus500 with other celebrations for this review and the financing expenses were fairly low. Still, it is important to keep in mind that Plus500 is not extremely appropriate for long-term trading because of the financing costs you have to pay on a daily basis. Plus500 Futures.
Other costs on Plus500
We have thoroughly examined the costs for this review, and we have not found any frustrating covert expenses. You must ensure that you log in to the platform at least as soon as 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 planning to trade for a while? Then it is smart to withdraw the money from your account.
You can check all Costs here:
Plus500 is generally made up 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 suggests 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 Futures.
The following extra charges might be used:
Overnight Funding – The overnight financing 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 daily over night funding portion can be discovered in the “Details” link next to the instrument’s name on the primary screen of the platform.
Currency Conversion Fee – 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 depend on 0.7% of the trade’s realised internet profit and loss and reflected in real time into the unrealised net revenue and loss of an open position.
Lack of exercise Fee – A fee of as much as USD 10 per month will be imposed, must you not log in to your trading represent a duration of a minimum of three months. This charge will be charged once a month from that minute onwards, as long as no login is made to the account. The lack of exercise charge will be equal to the lower of the staying 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 readily available, despite the fact that it has not been used. Please note that the charge is just gathered from the Genuine Money account and only when there are sufficient available funds in the account. In order to avoid this fee, simply log into your trading account from time to time, as this is considered adequate activity to prevent a charge from being charged.
Guaranteed Stop Order – if you choose this feature, please note that as it guarantees that your position (trade) closes at a specific asked for rate (rate), the trade undergoes a broader spread.
Conclusion Plus500 charges
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 short article about the costs on Plus500, we take a closer take a look at the numerous expenses you pay when you trade with Plus500.
Software application & possibilities
When you begin trading, we understand that you of course also want to utilize a great software package. With Plus500 trading is primarily done through the online WebTrader. A great benefit 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 stood apart 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 & sell buttons on Plus500. Plus500 Futures.
Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is important to bear in mind that with Plus500 you constantly trade in CFDs. With Plus500 you never straight trade in a share. The only thing that determines your outcome is the distinction between the cost at which you open and close the position.
When you open a position, you have 2 options. You can buy the CFD or you can go short on the CFD. When you purchase the CFD you get a positive outcome with an increasing cost and when you offer the CFD you get a favorable result with a falling rate. Given that you use leverage there is a high danger of losing cash rapidly due to take advantage of.
The choice to speculate on a decreasing cost is a major advantage within the Plus500 platform. The alternative to brief sell increases your versatility and makes it possible to respond to different market scenarios.
Type of orders
With Plus500 you can right away open an order. When you press purchase or sell you will see the screen below:
In the order screen you can go into the quantity you want to trade with. You likewise have the option to instantly open or close the position after a certain cost has been reached. This makes it possible to protect you trades when you have to go out. Plus500 Futures.
It is also possible to put an order with Plus500. You do this by going into a price at which you automatically open the CFD position. By utilizing orders, you can attain even much better trading results.
With Plus500 you have the alternative to apply an utilize. With a lever you can take a larger position with the very same amount of money. Both your prospective earnings and your potential loss boost when you apply leverage. With each security you can right away see what the optimum take advantage of is that you can use.
The existence of a leverage is an advantage in the evaluation of Plus500. You can constantly choose to invest with smaller quantities if you want to decrease your danger.
On Plus500 you can also trade with the mobile application they provide. The mobile application is less comprehensive than the WebTrader. You can perform less comprehensive analyses with it. However, it works to likewise install the mobile application. With the app you can get warnings when the rate of a security reaches a specific worth.
The mobile application is really user-friendly and it is good to change your orders when market conditions alter substantially. The mobile application is therefore a strong point in our evaluation of the Plus500 platform.
Trading options at Plus500
In this part of the evaluation we will discuss the various types of securities you can trade in with Plus500.
With Plus500 you can sell CFDs on Forex. When you trade in Forex, you speculate on price modifications in currency sets. You can for instance location a trade on the development of the euro against the dollar.
On Plus500 you can likewise sell a comprehensive range of CFD shares. The shares are nicely sorted by nation, so you can quickly find a share to trade.
It’s likewise possible to trade in commodities by using CFDs. The most popular product for trading is oil. You can often use a maximum leverage of as much as 1:20 to financial investments in raw materials. When you trade in gold you can use a leverage of 1:20.
On Plus500 you can likewise sell CFDs on choices. Options often move strongly: a choice 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 even more 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 famous cryptocurrencies. Cryptocurrencies are extremely unpredictable and it can therefore be interesting to actively speculate on their price advancements. One of the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument accessibility subject to policies”). Plus500 Futures.
Conclusion on the trading options at Plus500
Plus500 has a vast array of tradable CFD securities. Even reasonably unknown regional stocks can often be discovered on the Plus500 platform. This makes Plus500 an attractive broker for investors from all countries. My experience with Plus50 has therefore been really positive.
Assistance & research study
In this part of the evaluation, we investigate how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the graphs. Within the software you can use various illustration options. You can draw horizontal levels to indicate price levels where the marketplace frequently relocates the opposing instructions.
You can also include technical signs on the graph. The variety of technical indicators at Plus500 is massive. You can pick from more than 100 different choices. It is wise to use technical indicators. By using technical indicators, you can carry out better analyses.
The technical analysis options within the Plus500 software are substantial. It is bothersome that you can not conserve multiple graphs. This implies that you need to repeat the analyzes routinely. 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 options are entirely missing out on. There are no courses or webinars available at Plus500. This is a drawback for people who sign up with Plus500 to find out how to trade better.
It works that you receive a notification within the Plus500 software when intriguing advancements occur. When the cost of, for instance, oil falls sharply, you will receive a notice of this event. You can then choose for yourself whether you wish to take a position on the market advancement. Plus500 Futures.
Within the Plus500 software application you can also see how other users sell a security. By looking at the positions other traders take, you can see whether there are more buyers or sellers. Other basic data is missing out on with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.
Plus500 has a detailed and fast client service that is readily available in more than 30 languages. Your problems can be resolved quickly in your language.
It is suggested to get in touch with customer care by means of live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be resolved practically instantly.
It is likewise possible to email Plus500. Mails are often addressed within a day. It is a pity that no phone number is readily available. This makes it impossible to speak directly to someone. Due to the quick processing time, Plus500 still scores sufficiently in regards to client service. Plus500 Futures.
Security & reliability
Prior to you deposit cash with a company, you naturally need to know that it is entirely secure to do so. In this part of the evaluation, we take a look at how reputable Plus500 is.
Supervisors make sure that brokers abide by the rules. Plus500 is supervised by:
- Plus500UK Ltd authorized & controlled by the FCA (# 509909).
- Plus500CY Ltd authorized & regulated 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; licensed financial service provider in South Africa, FSP # 47546.
Security of your deposits
Depending upon your nationality, you take pleasure in additional protection if Plus500 goes bankrupt. This is done through a so-called financier protection fund. All client funds are held in a segregated client checking account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set a number of extra guidelines to make sure that your cash is as secure as possible on Plus500. Listed below you can find a summary of these measurements:
Plus500 will never ever hypothesize with customers’ money. All funds are kept in a separate checking account, which indicates that this money is secure when unanticipated things occur with Plus500. And last but not least, on Plus500 you are protected versus a negative balance, since he Unfavorable balance protection is a regulative requirement for all EU brokers. So when you trade with Plus500, you can never be entrusted to a recurring financial obligation. Plus500 Futures.
Plus500 is 100% no scam. Plus500 safely handles customer properties. The company is also supervised. Plus500 has been around since 2008 and is even noted on the London stock exchange. These are all great indications that Plus500 is trustworthy and we have actually concerned that conclusion ourselves.
About the company
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 carried out 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, but they have opened a number of extra offices in other countries. Do you wish to know more about the Plus500 company? In this article you will discover everything you require to understand!
Conclusion review Plus500
Plus500 is among the best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by utilizing the easy to use software application. On Plus500 you can trade at low rates. You also have the chance to respond to changing market conditions by placing orders on both fluctuating rates. Plus500 Futures.
Do you wish to discover how Plus500 works? Then right away open a free demo-account by pressing the button below:
79% of retail CFD accounts lose money