Plus500 CFD test - was the broker rating positive?

That's what the Plus500 CFD test says about demo accounts and trading options - find out in good time before opening an account.

The selection features in the broker comparison are different. After the Plus500 CFD test, traders are convinced of the large selection of tradable assets from all areas of the CFD market. However, the offer is not very diverse when it comes to support. The fact that customer care still serves its purpose is demonstrated by the strict regulation of Plus500 Uk Ltd by the British authority FCA. The London-based company is not only modern when it comes to the list of commercial values. Also and especially with the payment methods, traders can decide very flexibly how credit should be deposited into the account.

The important Plus500 facts:

  • Opening a trading account with a minimum deposit of € 100.00
  • good choice of ways for payment transactions
  • broker does not charge fees for money transfers
  • small spreads on majors
  • no commissions and commissions for trading
  • Trading model regulated by the British FCA
  • Demo account without time limit with 20,000 Euro credit

The Plus500 CFD test

Plus500 CFD test - was the broker rating positive?

Payments via PayPal and many more Because of

so far, few CFD brokers allow payments via PayPal. The Plus500 rating shows that the broker wants to patronize customers in view of supposedly high transaction fees in this regard. Deposits and withdrawals are also possible via the eBay subsidiary PayPal. It is more important to the British broker transparency and reliability at possible costs on this point. And this information policy is also followed when it comes to the question of payment processing as a whole. Plus500 itself does not charge fees for deposits into the merchant account or for withdrawals from the account.

For merchants, however, this does not automatically mean that no costs are incurred through payments. First of all, it should be noted that broker customers can also prefer payment methods bank transfers or credit card payments such as the newer e-wallets Skrill, giropay, Sofortüberweisung or PayPal.

Now directly with cryptocurrencies Trade Plus500

For all deposits and withdrawals, EUR 100.00 is the minimum. The payment services, banks and credit card companies involved often charge their own fees, which traders should know before choosing. After all, these affect the return. According to the test report, the provider Skrill charges a fee of 1.00% (max. EUR 10.00) for payments, PayPal currently charges a flat rate of 1.9% (+ EUR 0.35) for all withdrawals from the account there, if the funds previously came from the Plus500 account and are not used for virtual purchases. Traders who are in a hurry in day-to-day business are well advised to trust credit cards or one of the online services.

Transaction processing is often faster here. Bank transfers can take a few days, depending on the bank. Before the first payment, proof of residence (utility bills, not older than three months) and identity (copies of valid ID cards or passports) must be provided. This can also take a few days.

Conclusion: Even with the options for depositing and withdrawing it becomes clear that Plus500 is a very customer-friendly broker. In contrast to the competition, Plus500 also uses PayPal and leaves it up to its customers to decide whether to accept the additional costs.

Plus500 Trading Platform Exposed: Review and Tutorial (2018)

What does the Plus500 rating say about support?

The Broker Plus500 is a good example of the fact that customer service is also increasingly changing when it comes to offers for CFD trading. The comparison shows that in the area of ​​"classic" contact options, there is only the way by email. A call to the hotline or direct written contact via live chat? The broker currently does not provide for contact by phone. A live chat is available for this, which answers customers' questions almost around the clock.

As a state-regulated broker, the London-based company is aware of its great responsibility. Modern media such as Facebook and Google+ are increasingly playing a central role here as a way of contacting customers (and those who are yet to become so). Via social media, traders learn everything important about innovations in the broker portfolio and have multiple access to current market analyzes by experts. At least to a limited extent, traders also have the option to exchange ideas with like-minded people via the portals.

The easy-to-understand CFD introduction with diverse facts, which beginners also have a good insight into trading in contracts for differences of customer service. The free demo account must still be available for support issues. Come. Because this is a good start-up aid. A demo account can also be opened and used without opening a real money account at the same time. Plus500 transfers 20,000 euros to the test account at the beginning. There is no time limit for use, and the credit is always increased to the initial value when traders have used up almost all of the play money capital.

Conclusion: In terms of customer support, Plus500 can also convince. The broker provides a live chat that quickly takes care of concerns, questions and problems. In addition, the demo account is particularly convincing, which explicitly does not require the opening of a real money account.

Plus500 CFD test - was the broker rating positive?

Simple navigation and a number of extra functions on the platform

The demo account is a good approach to approach the Plus500 rating without risking capital. Especially since the broker provides a broad trading model. The Plus500 platform can be used practically as a WebTrader without prior download and software installation. The platform is offered free of charge. Technically, the use of the platform is just as easy as in the usual trading environments of the competitors. A minimum deposit of € 100.00 is mandatory to open a live or real money account. This requirement applies to both the web-based platform version and the download version for CFD trading (for computers with Windows operating systems).

The third variant of the trading platform is made up of mobile apps for end devices the operating systems iOS from Apple or Android from Google. App users must clarify whether their devices are compatible with the latest application version.

If this is not the case, execution problems may arise later or the app may crash at the most inappropriate moment. In contrast to the web-based platform, owners of devices with the Linux or Windows systems have had to use the normal smartphone or tablet browser on the go. The free apps are available via iTunes or the Apple App Store and Google Play. Combined with a demo account, the function test is pleasantly easy. In the "Introduction to CFDs", the broker explains how positions are opened and closed.

Of course, the various order types are discussed there. In the Plus500 test, guaranteed stops as well as the "Stop-Loss" trading types to protect against excessive losses and the "Stop-Limit" function prove to be profit protection. "Trailing stops" and "entry orders" can also be set up. The two last-mentioned order types are not least used for automatic execution as soon as the desired prices for a particular instrument are reached on the market.

Conclusion: Die Trading platform is the trader's living room. Operation should be correspondingly intuitive - which is definitely the case with Plus500. In addition to conventional positions, important order additions such as trailing stops can also be used. This gives traders the opportunity to adequately structure their risk management.

These trading conditions should be known to traders

For the objective evaluation of the broker Plus500, statements are required regarding minimum requirements that are required to start trading Trade. In our Plus500 CFD test, a distinction is made between the minimum deposit for opening an account and trading. Traders receive an account from as little as EUR 100.00. However, this sum is not sufficient in all sectors to have positions executed via the trading platform. Commodity CFDs are among the instruments that can actually already be traded with this application - and with a maximum leverage of 1:30.

CFDs on currency pairs are offered by the broker with a leverage (maximum leverage) of 1:30. ETFs - the so-called Exchange Traded Funds - are offered with a leverage of up to 1:10, contracts for differences on indices can be traded with a leverage of up to 1:20.

Commissions and commissions, according to the broker on his website, are mostly not calculated. In the Forex area, however, traders must take into account spreads, which are a fee aspect in the test report. Furthermore, after a period of three months without trades, the broker charges an inactivity fee of EUR 5.00 per month. In addition, there are financial supervision costs for overnight trading. The exact costs can be found on the details page for the individual trading instruments on the Plus500 platform. Following a simple rule of thumb, traders should expect fees to be three times higher than normal if positions are to be held from Friday to Monday. Currency pairs. They start at 2.0 pips in the majors area.

Although CFD trading involves a high level of risk, high profits can sometimes be achieved. For this, however, traders must keep an eye on the prices and can e.g. For example, use a real-time financial chart.

The spreads at Plus500 are extremely tight and have been further reduced in recent years. Traders can already trade in spreads of 0.5 pips during the main trading hours mentioned. How high the spreads are in detail of course always depends on the chosen underlying. Before each position is opened, the broker transparently shows how high the fees for this position are.

Conclusion: CFDs at Plus500 can be obtained at favorable conditions be acquired. The maximum leverage loves at 1:30 (Forex) - extremely flexible values, through which traders can generate high returns.

Plus500 CFD test - was the broker rating positive?

Facts on state control of the broker

In terms of Regulations take into account different standards in financial supervision within the European Union. Similar to the German BaFin, the British FCA - the Financial Conduct Authority - is considered strict. Client deposits are kept in external accounts regardless of brokerage capital. Defaults caused by the broker (as well as other financial problems) are protected by deposit insurance up to 90% of the balance or a maximum of £ 50,000. Trading is always associated with risk. Traders can lose their invested capital.

Conclusion: As one of the few CFD brokers, Plus500 is not based in Cyprus, but in the European financial capital London. State control is correspondingly strict, which means that traders benefit in the form of high security.

Clear underweighting of stocks and indices

Plus500 promises more than 2,000 tradable underlyings. In fact, the test shows that stocks, commodities, forex, indices and ETFs offer a very good selection of assets to trade. The list of share values ​​is the most extensive. In the area of ​​ commodities and indices traders will find a usual amount of values. The broker continues to name about 60 currency pairs. With a click on the underlyings, the broker compiles all the necessary facts about the instruments. In addition to the spreads (in euros and%), these include purchase and sales fees as well as expiry times and other indispensable data.

Of course, these 1,000 underlyings include the best known and most popular. In the Forex area, for example, all majors such as EUR / USD, GBP / USD or JPY / CHF can be found. In addition, true exotics such as the Swedish krona are included in the portfolio, so that forex traders get their money's worth.

Plus500 can also convince in the equity area. Important indices such as the Dax or the Dow Jones are of course tradable. Some Asian indices and individual securities can also be found in the product range. The platform has been continuously expanded in recent years, so that traders can look forward to regular new products in the future.

Conclusion: Not only the trading conditions at Plus500 are impressive, the product range is also convincing in the Plus500 test. Especially in Forex trading, traders find a depth that is only possible with a few competitors.

Plus500 CFD test - was the broker rating positive?

Extras for security-loving traders

In the Plus500 rating, extras like that are positive Functions "stop loss", the opportunity to set up a limit and other benefits. It combines the fact that these functions do not incur any additional costs. Furthermore, account and position management is comparatively easy with the so-called "risk management tools". The extra functions allow positions to be closed before expiry in order to secure profits or reduce losses. With the "price warnings", the broker informs the user via SMS or push notification, among other things, when the set values ​​for the desired buy or sale have been reached.

The extras also include the many technical indicators, which above all can be used in forex trading. But other charts can also be analyzed so extensively. All indicators and other features of the trading platform are directly explained via integrated help. This saves traders the hassle of clicking and leads to the fact that the operation of the trading platform goes straight into their blood.

Since 2012, traders at Plus500 have been able to use an app for mobile devices. What was standard today was an absolute novelty a few years ago. Plus500 was quick to adapt to this trend and, at the trader's request, developed the intuitive app. This is of course available to traders free of charge, the download is easy via the corresponding Apple and Android app stores.

Conclusion: Also in terms of extras Plus500 knows how to convince. The company was one of the first providers to launch a mobile app. Plus500 has maintained this willingness to innovate to this day and has continuously developed both the mobile app and the trading platform itself.

Trade cryptocurrencies directly with Plus500

The demo account of Plus500 in detail

Not all CFD brokers offer their customers the opportunity to test the service first without obligation. Here too, Plus500 responded to customer requests and developed a free, non-binding demo account. This is much more mature than that of the competition. The features at a glance:

  • Virtual start-up capital of 25,000 euros
  • Full support from the support team
  • Live and demo accounts can be managed in parallel
  • No time limit

With the Plus500 demo account, investors can trade for an unlimited period of time. This is particularly beneficial for beginners who still want to learn to trade. Advanced traders also use the demo account to develop new trading strategies. The special feature of Plus500: If the starting capital falls below 200 euros, the broker automatically replenishes the account to a full 25,000 euros.

Conclusion: That Demo account is more than just a nice additional feature. The benefits are huge for both beginners and advanced traders. This is partly due to the fact that the Plus500 demo account has no term limit and can be managed absolutely independently of the normal trading account.

Conclusion on the broker Plus500:

For experienced traders it is often the extra functions that distinguish Plus500. The minimum deposit amount of just 100 euros is also an incentive to address merchant interests. And last but not least, the demo account with no time and credit limits is an advantage to test alongside things permanently without risk.

Share this article
Comments