Plus500 Review: our experience with this broker – Plus500 Interim Results
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument availability 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 latest market advancements at low rates. Plus500 Interim Results.
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- At Plus500 you can speculate on rate developments at low rates.
- You can sell a substantial series of CFD shares.
- It is possible to attempt Plus500 totally free with a demo.
- On Plus500 you can utilize the easy to use web trader.
- Plus500 provides its services in more than 30 various languages.
- On Plus500 you can begin trading from $100. Plus500 Interim Results.
- Plus500 does not supply innovative software application for expert traders.
- You can not discover substantial analyses within the platform.
- Plus500 customer care is not offered by phone.
- On Plus500 you can only trade in CFDs.
Would you like to attempt the possibilities at Plus500 with a demo totally free of charge and without danger? Use the button below to open a demo account with this broker:
Plus500 Interim Results
We go over the following subjects in the Plus500 review:
- Open account: how can you open an account with Plus500?
- Deposit cash: how can you deposit and withdraw cash?
- Costs: how much does trading expense on Plus500?
- Functionalities: what are the possibilities of the software?
- 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 costumer service? (costumer-service).
- Dependability: Is this broker dependable? (reliability).
- Info: more information about Plus500 (info).
- Conclusion: the decision of the Plus500 review (conclusion).
Opening an account with Plus500
To do this you must first visit the Plus500 site. Click here * to open the Plus500 website. To produce a free demonstration account, you just need to choose an e-mail address and a password. It is also possible to visit with your Facebook or Google account. After you have left this info, you can immediately start trading. Plus500 Interim Results.
Plus500 accepts customers from a lot of countries. However, there are likewise nationalities that are not confessed 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 evaluation, we therefore provide Plus500 a positive score for opening an account. Plus500 Interim Results.
Deposit & withdraw money
When you have become familiar 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 using among these methods:
- Bank transfer.
Prior to your deposit can be processed, you need to verify your identity. Plus500 must abide by legislation and can just receive validated consumers. By validating new costumers, Plus500 avoids costumers from using the account for money laundering.
We’ve gone through the whole procedure and published the needed files. Our account was authorized and released by Plus500 within an hour. After validating the identity of your account, you don’t need to do it again. The length of this process depends upon your individual scenario and can be various for each customer.
You can withdraw the money 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 quickly and the cash will remain in your account within a few days. Plus500 Interim Results.
On Plus500 there are no extra costs for depositing and withdrawing cash. This is a huge advantage of the broker Plus500: many other brokers charge a little fee for withdrawing cash. Traders can benefit from up to 5 free withdrawals a month, after which a fee will be sustained.
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Review of the expenses of Plus500
When you start trading with Plus500, you undoubtedly do not want a large part of your cash to be lost to high deal expenses. In this part of the evaluation, we take a detailed take a look at the fees of trading with Plus500. Listed below we quickly take a look at which costs Plus500 passes on to its clients.
With Plus500 you pay a spread over every transaction. The spread is the difference between the buy and sell rate of a CFD. Plus500 offers 2 spread mechanisms for its instruments: Dynamic spread which is constantly changed according to the market spread out throughout the period a position is open vs. a Spread which does not typically change in line with general market changes while a position is open, but when the market is unstable and illiquid, may change to a brand-new level so that the underlying market conditions are much better reflected. Plus500 intends to provide the tightest possible spreads at all times. Plus500 Interim Results.
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 costs on the pair of EUR/ USD. We compared these costs with those of other suppliers 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 review it emerged that at Plus500 you can trade against 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 therefore relatively 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 also trade in 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 overall worth. Trading CFD Tesla shares is therefore possible at a low cost. (Please note that this is a snapshot on April 20, 2020 at 13:00.).
Financing costs 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 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 funding buy and the over night financing offer expenses. In many cases, you actually receive a premium for short positions. We compared Plus500 with other celebrations for this evaluation and the financing costs were fairly low. Still, it is essential to keep in mind that Plus500 is not really appropriate for long-term trading because of the financing fees you have to pay every day. Plus500 Interim Results.
Other costs on Plus500
We have actually extensively examined the expenses for this evaluation, and we have not discovered any bothersome hidden expenses. Nevertheless, you must make sure that you log in to the platform a minimum of once every 3 months. If you do not do this, costs 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 wise to withdraw the money from your account.
You can check all Charges here:
Plus500 is primarily made up 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 implies a market spread of 0.6 pips, in this example). Unlike other service providers who also charge commissions on each trade, Plus500 does not charge dealing commissions. Plus500 Interim Results.
The following additional costs may be used:
Overnight Funding – The over night funding amount is either contributed to or subtracted from your account when holding a position after a particular time (the “Overnight Funding Time”).
The over night financing time and the everyday overnight funding percentage can be found in the “Particulars” link next to 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 various to the currency of your account.
The Currency Conversion Charge will presently depend on 0.7% of the trade’s realised net profit and loss and shown in real time into the unrealised net profit and loss of an employment opportunity.
Lack of exercise Cost – A charge of as much as USD 10 each month will be levied, must you not log in to your trading account for a period of a minimum of 3 months. This fee will be charged as soon as a month from that moment onwards, as long as no login is made to the account. The lack of exercise cost will amount to the lesser of the remaining available balance in your account or USD 10 (or equivalent depending on your currency). This is to balance out the expense incurred in making the service available, although it has not been used. Nevertheless, please note that the charge is only gathered from the Genuine Cash account and only when there suffice readily available funds in the account. In order to avoid this fee, simply log into your trading account from time to time, as this is deemed enough activity to prevent a charge from being charged.
Guaranteed Stop Order – if you pick this feature, please note that as it ensures that your position (trade) closes at a particular asked for rate (cost), the trade is subject to a wider spread.
Conclusion Plus500 costs
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 article about the expenses on Plus500, we take a closer look at the numerous costs you pay when you trade with Plus500.
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Software application & possibilities
When you start trading, we comprehend that you naturally also wish to use a great software package. With Plus500 trading is generally done via the online WebTrader. A fantastic advantage of the WebTrader is the accessibility: you can visit 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 quickly discover the CFD in which you want to trade. New customers will for that reason not have to search long for purchase & offer buttons on Plus500. Plus500 Interim Results.
Opening a trade
Opening a trade with Plus500 is rather simple. It is necessary to bear in mind that with Plus500 you constantly sell CFDs. With Plus500 you never straight trade in a share. The only thing that determines your outcome 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 purchase 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 sell the CFD you get a favorable result with a falling cost. Considering that you utilize utilize there is a high risk of losing cash quickly due to leverage.
The choice to speculate on a declining rate is a significant benefit within the Plus500 platform. The alternative to short sell increases your flexibility and makes it possible to react to different market situations.
Type of orders
With Plus500 you can immediately open an order. When you push buy or offer you will see the screen below:
In the order screen you can get in the quantity you wish to trade with. You likewise have the option to immediately open or close the position after a certain rate has been reached. This makes it possible to secure you trades when you need to go out. Plus500 Interim Results.
It is likewise possible to put an order with Plus500. You do this by entering a rate at which you immediately open the CFD position. By using orders, you can attain even much better trading results.
With Plus500 you have the option to use a leverage. With a lever you can take a bigger position with the same quantity of cash. Both your potential revenue and your potential loss increase when you apply take advantage of. With each security you can right away see what the optimum leverage 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 quantities if you wish to lower your threat.
On Plus500 you can also trade with the mobile application they use. The mobile application is less substantial than the WebTrader. You can carry out less comprehensive analyses with it. It is helpful to also install the mobile application. With the app you can receive cautions when the price of a security reaches a certain worth.
The mobile application is very easy to use and it is great to adjust your orders when market conditions change significantly. The mobile application is for that reason a strong point in our review of the Plus500 platform.
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Trading alternatives at Plus500
In this part of the evaluation we will go over the different types 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 rate modifications in currency pairs. You can for example place a trade on the development of the euro versus the dollar.
On Plus500 you can likewise sell a substantial range of CFD shares. The shares are nicely arranged by nation, so you can rapidly 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 use an optimum utilize of as much as 1:20 to financial investments in basic materials. When you sell gold you can use a leverage of 1:20.
On Plus500 you can likewise trade in CFDs on alternatives. Alternatives typically move strongly: an alternative can in some cases rise or fall in worth by 10s of percent. With CFDs you can apply a leverage of approximately 1:20 to choices, which even more increases your possible gains or losses.
Indices or ETFs
On Plus500 you can also 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 likewise trade with CFDs in the most famous cryptocurrencies. Cryptocurrencies are extremely volatile and it can therefore be interesting to actively speculate on their price developments. Among the most popular cryptocurrencies to sell is the Bitcoin. (” Instrument availability subject to regulations”). Plus500 Interim Results.
Conclusion on the trading options at Plus500
Plus500 has a wide range of tradable CFD securities. Even relatively unidentified regional stocks can often be found on the Plus500 platform. This makes Plus500 an appealing broker for investors from all countries. My experience with Plus50 has therefore been really positive.
Assistance & research
In this part of the review, we examine how Plus500 supports traders.
At Plus500 you can carry out technical analyses on the graphs. Within the software you can utilize various drawing choices. You can draw horizontal levels to suggest price levels where the marketplace often relocates the opposing direction.
You can likewise add technical indicators on the graph. The variety of technical signs at Plus500 is huge. You can select from more than 100 various options. It is smart to use technical signs. By utilizing technical signs, you can execute better analyses.
The technical analysis alternatives within the Plus500 software are extensive. It is bothersome that you can not conserve multiple charts. This means that you need to repeat the analyzes frequently. Professional financiers would need 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 choices are entirely missing. There are no courses or webinars readily available at Plus500. This is a disadvantage for people who join Plus500 to find out how to trade much better.
It is useful that you get a notification within the Plus500 software when intriguing developments take place. When the rate of, for example, oil falls sharply, you will get a notice of this event. You can then decide on your own whether you want to take a position on the market development. Plus500 Interim Results.
Within the Plus500 software you can also 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 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 service that is readily available in more than 30 languages. Your problems can be resolved quickly in your language.
It is advised to call customer service through live chat. You can use the live chat button within the Plus500 WebTrader. By using the live chat, your issues can be solved almost instantly.
It is also possible to email Plus500. Mails are often addressed within a day. It is a pity that no telephone number is offered. This makes it impossible to speak directly to somebody. Due to the quick processing time, Plus500 still ratings sufficiently in regards to customer service. Plus500 Interim Results.
Security & reliability
Before you transfer cash with a company, you naturally wish to know that it is totally secure to do so. In this part of the review, we take a look at how reputable Plus500 is.
Supervisors ensure that brokers adhere to the guidelines. Plus500 is monitored by:
- Plus500UK Ltd licensed & controlled by the FCA (# 509909).
- Plus500CY Ltd licensed & managed 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 financial 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 investor security fund. All client funds are held in a segregated customer savings account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).
Plus500 has actually also set several additional guidelines to ensure that your money is as safe as possible on Plus500. Listed below you can discover a summary of these measurements:
Plus500 will never speculate with customers’ money. All funds are kept in a separate bank account, which suggests that this cash is secure when unexpected things happen with Plus500. And finally, on Plus500 you are protected against a negative balance, due to the fact that he Negative balance defense is a regulatory requirement for all EU brokers. So when you trade with Plus500, you can never ever be left with a residual debt. Plus500 Interim Results.
Plus500 is 100% no fraud. Plus500 firmly manages consumer properties. The company is likewise supervised. Plus500 has actually been around considering that 2008 and is even noted on the London stock market. These are all good indicators that Plus500 is reliable and we have come to that conclusion ourselves.
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About the business
Plus500 was founded in 2008 and has actually grown highly ever since. 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 business can be found in Israel, but they have opened numerous extra workplaces in other countries. Do you want to know more about the Plus500 business? In this post you will discover everything you need 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 also have the opportunity to react to changing market conditions by positioning orders on both rising and falling rates. Plus500 Interim Results.
Do you want to find how Plus500 works? Immediately open a totally free demo-account by pressing the button 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