One of the oldest, best known and most popular brokers for exclusive trade with CFDs (difference contracts) is in the German-speaking space definitively Plus500. We have exactly had a look at the company which is always often to be found in the media and are demonstrated in our progress report what interested traders should pay attention to. According to an appraisal to the Plus500 seriousness we come increasingly on the real offer of these services CFD and point which factors on decide whether a registration is worthwhile with the top broker or rather not.
Plus500 has his roots in Great Britain. There the being behind it company Plus500 UK Ltd is also announced. Plus500 is a Tradinggesellschaft which attaches her offer meanwhile in many countries of the world. The broker CFD went after the business formation in 2008 a year later to the start and was at that time the first company which offered trade with CFDs completely toll-free. At that time was this one real innovation and has given to the company many contented and loyal customers. Meanwhile trade with difference contracts is possible in more than 2,000 markets. Plus500 is available since some months into more than 20 languages and draws worldwide interested new customers. Moreover, Plus500 is the main sponsor of Spanish football club of Atletico Madrid which has won the Primera division in the season 2013-2014. This points how much money is behind the company really.
According to own specifications Plus500 is completely free from debt and disposes of a high liquidity. In addition, it is worth mentioning that the customer’s money is kept according to valid right separately by the company property. Specifically this has for traders the advantage that in case of a bankruptcy of Plus500 on a payback large parts of own inserts can be hoped. Then believers have no chance to come with the recovery of the money in debt to exactly these amounts.
Of course Plus500 is also adjusted and authorisiert. This happens by the responsible authorities in each case of the countries with three head offices. In London, UK these are for Plus500 UK LTD the Financial Conduct Authority (FCA), in Sydney, Australia for the Plus500 AU LTD the Australian Securities and investments Commission (ASIC) and and Limassol, Cyprus for the Plus500 CY LTD the Cyprus Security and Exchange Commission (CySEC). There one looks very exactly after all interests which originate concerning Plus500. The financial supervisory authorities are defeated by the direct instructions as for example from sides of the European Union. The laws to which it is a matter to keep are the same ones. Particularly the English authority is known for her exact, strict and respectable controls. Therefore, users and female users of Plus500 can assume from the fact that it does not concern deception or Duffing and no unserious business internships as for example manipulating the figures takes place.
Customers say this
Not all traders are completely contented with Plus500. A short Internet search or the look at the comments on the Facebook page of the company show that the communication proceeds between Plus500 and his customers perfectly. For example, accounts are blocked without other grounds. Then on demand becomes clear that an account will transfer and should be it within less days again freely to the action.
These and other examples make some dealers disgruntled. You trust Plus500 not completely and make this also in various assessments in the Wold Wide to web clearly. Over and over again, however, becomes also clear that Plus500 the debt is given for the simple loss by money. Forex trade is a high risk business with which a trader win fast a lot of capital, but can also lose. Nobody has said that Plus500 is to be seen as a kind of monetary pressure machine. Therefore, critical comments must be always read with a lot of care and be looked. If the system Forex to the desired success does not lead one does not say that Plus500 must be to blame for it.
The Support in the test
With our test we have taken of course also all Supportmöglichkeiten exactly under the magnifying glass. Typically bigger Forex broker offer not only a contact by email, but also a free phone number as well as partially also a live chat. Questions and answers in the form of a FAQs are informed also on-line.
Now, with Plus500 this does not take place everything. In comparison to nearly all competition suppliers whom we have already tested the service is exceedingly miserable with Plus500. A service number it is as renounced, as on a live chat. On-line no phone number is to be found about which one can contact directly Plus500 and clear questions and problems personally. Instead, a contact form about which itself customer have to announce to the supplier is available. Now in our progress report we would also like to describe our opinion to this kind of the establishment of contact. Since in the test establishment of contact attempts have been answered only after some working days. We had the feeling to be held out here.
Still: on most of our questions we have also received by the use of Internet searching machine an answer. Thanks to Plus500 has struck us that direct Support about customer service employee is necessary not at all absolutely. However, this should not excuse the bad after-sales service of the company or protect. We award here a bad mark.
On the paper Plus500 looks extremely serious. The company grows and grows and offers his performances meanwhile in different countries of the world. The fact that now even a big and known Spanish team can be sponsored shows how healthy the company is and how much capital is behind it really. In addition, the regulations in immediately two different countries of the European Union make clear that Plus500 is serious. An insert protection for the customer’s money also exists, so that in case of an unlikely bankruptcy of the company money is paid back guaranteed.
A little worries we come along concerning the assessments of other customers. Should it be really Usus not to answer inquiries or only insufficiently, then there is with Plus500 a trust problem. Also the virtually not available Kundensupport disturbs us in our assessment extremely. Our experiences are also not intoxicating from that point of view. We would like to recommend to the broker, internationally actively and one of the first addresses for beginners and beginners is to think over his politics concerning the Kundensupports once again.
The offer of Plus500
In the second authority we have exactly had a look at the advantages, at disadvantages, conditions and performances of Plus500. To every unterpoint we have erected a short assessment one comprehensive insight offers with which interested trader can decide for or against this broker. All specifications have originated of the best knowledge and conscience after our personal test.
Foreign currency, CFDs and a lot more
Middle maximum lever, fixed spreads
With Plus500 do not place Responsibly on a pure price-cost strategy which should flatter the users and female users. Concerning the fixed spreads, for example, relatively high values from 2.0 Pips are requested for major like EUR/USD. Customers thereby do not have the possibility to penetrate fast into the profit zone and must hold her layouts a little longer. 2.0 Pips are exceptionally high in the direct comparison to other suppliers. Just the brokers with a higher least insert who have specialised in experienced dealers lie underneath with her offers clearly. However, for the beginning and for beginners Plus500 should be within the scope of. However, after some time novices would have to think about a change of the supplier.
The maximum lever which is offered in the Forex trade is in the average area. Though not all currency pairs are defeated by the lever of 200:1, however, this amount is valid for major like EUR/USD again. Clearly low the lever precipitates with exotic currencies and currency pairs. To the information: with CFDs the maximum lever is also enclosed 200:1. For indexes Plus500 wears him slightly 300:1 raised. However, ETFs are booked with a maximum lever of only 100:1.
Clear trading software
The negative point first: unfortunately, the software MetaTrader 4 which is revered of many traders on account of her clarity and individual Anpassbarkeit cannot be used with Plus500. Instead, Plus500 makes available own web trader who makes easier the entrance in trade with foreign currency thanks to his fantastic structure just to novices clearly.
Besides there is of Plus500 also an in-house commercial platform which is ready to the download. There you must announce yourselves only fast with her characteristics and are able directly over own computer traden. In our test we think that this commercial software is clearly unadaptable in comparison to the web trader. Therefore, we would recommend to perceive the offer directly in the browser.
Moreover, Plus500 makes available a free ext. to you. This is usable topically only for Android-and iPhone user. However, about that you can act, differently than with many other suppliers, also. According to statistics, the Plus500 has recently published, are closed meanwhile more than 40% of all commercial transactions about the mobile ext. However, we would not like to propagate the use of such an ext. The exchange rate overviews are often very small and difficult to recognise. A successful Traden is thereby complicated.
Payments and payouts
Payments can be carried out with Plus500 quite simply about bank transfer, credit card and different other services which promise a direct transference of the money to the on-line account. Under it, for example, famous Bezahlsysteme are like Skrill, Giropay and also Papal. In total we are inspired by the fullness of different possibilities very much.
Payment is carried out basically above the same ways as the money is also transferred on the on-line account. Besides, the classical bank transfer is most current. To judge to the experiences of some customers, however, the transfer of the money not always runs off quite smoothly. Plus500 often requests for other and other documents and gives, besides, to itself a lot of time to check the submitted documents really. Also we had in the test thus some problems with our payment, have found the money, however, at the end, nevertheless, on our account.
Bonuses and special actions
Basically feels Plus500 towards new customers very open. In the greeting everybody who erect an account with the probably biggest Forex broker receives 25 euros of registration bonus given. These can be used without having to perform just one payment. Though in the market traders with 25 euros do not come particularly far, this bonus without payment is still a nice gesture of Plus500.
For the first payment customers receive a bonus which depends on the deposited amount. On this occasion, there is a progressive rate between a payment between 100€ and 50,000€.
- Least payment 100€ – bonus amount 30€ – 50 TPoints – bonus code FIRST100
- Least payment 500€ – bonus amount 150€ – 150 TPoints – bonus code FIRST500
- Least payment in 1000€ – bonus amount 200€ – 200 TPoints – bonus code FIRST1000
- Least payment in 5000€ – bonus amount in 1000€ – in 1000 TPoints – bonus code FIRST5000
- Least payment 10,000€ – bonus amount in 1500€ – in 2500 TPoints – bonus code FIRST10000
- Least payment 50,000€ – bonus amount in 7000€ – 10000 TPoints – bonus code FIRST50000
Only 100 euros — minimal payment
Also very fairly decorates is the low least payment which is required by Plus500. Trade is also so quick to private people and simply possible. The least payment lies specifically with 100 euros. However, with such an amount interested private individuals should not get into the Forex trade. The money can be split only hard, because too small positions make no sense in the Trading. It is advisable to get with at least 500 euros with the Forex broker.
More than 50 currency pairs available
No educational area, but demo account
Concerning the continuing education possibilities Plus500 is equipped possibly badly. There are merely some articles and texts of information about what is actually exact of the Forex trade. Webinare, seminars, videos and eBooks it was completely renounced. Small bright spot: a free demo account which can be used indefinitely is provided.