Plus500 review

Plus500 review

Investing in cryptocurrency is very similar to speculating in stocks. In both cases you invest money in the hope that the value of the crypto coin or share will increase. We see that many platforms that offer shares also offer the possibility to speculate with cryptocurrency. A well-known broker where you can trade CFDs on Forex, indices and stocks is Plus500. You may have heard of this broker because they have a lot of promotion. In addition to the standard offer of a broker that specializes in CFDs, you also have the option of speculating with cryptocurrency. In this Plus500 review we look at the platform, we investigate its reliability and we give a final judgment. On this page you also have the opportunity to leave your own experience via our rating system.

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76.4% of retail investors make a loss on CFD trading with this provider. It is important to consider whether you can afford the high risk of loss.

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Properties

Review Plus500

Open a demo account

CFDs trade cryptocurrency, as well as stocks, Forex, and more

Free demo account to practice (unlimited available)

Assortment of 7 cryptocurrencies

User-friendly portal

Regulated by the FCA

 

At Plus500 you do not actually buy cryptocurrency and you do not own anything

You really buy the cryptocurrency at almost all brokers that only focus on cryptocurrency and where you can find a review about on our site. These then end up in your wallet, making it yours. When you sell cryptocurrency when the profit has increased, you give the cryptocurrency back to the broker, as it were, who then sells it on the larger international cryptocurrency exchanges..

A difference between a cryptocurrency broker and Plus500 is that with Plus500 you have the cryptocurrency never in your possession. Plus500 is a CFD broker where CFD stands for Contract For Difference. When you “buy” cryptocurrency or a share, you enter into a contract with Plus500 and when you then sell your cryptocurrency again, you close this contract. So you actually only bet money on the price of a currency, share or commodity. If you only want to use cryptocurrency to speculate, this is of course no problem, but you cannot use your cryptocurrency as a means of payment or manage it.

How can you really own cryptocurrency?

If you really want to own cryptocurrency and keep it in a wallet, then we advise not to use Plus500. The platform is really focused on CFD trading, not buying or selling cryptocurrency. Buying, selling and actually owning cryptocurrency is cheapest at the Bitvavo Exchange (register). Here you can choose from dozens of different cryptocurrencies, which you can buy and manage in your personal wallet at low costs (maximum 0.25% fee). If you want to know more about Bitvavo, you can read our Bitvavo review.

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Welcome Bonus: € 1,000 FREE trading at Bitvavo

Temporarily pay no trading fees at Bitvavo for 7 days. A maximum of € 1,000 in digital currency applies.

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Plus500 review: More about the platform

Plus500 PlatformPlus500 is a true stock platform with complex charts and many tables. Nevertheless, the platform certainly appeals to beginners. You have the option to invest with a demo account (open a free demo account). You can then experience how the platform works by betting fake money on different rates. This is really a big plus, because it means you don’t lose money if you make a mistake or make wrong decisions.

Plus500 also has an app and special web platform so you can always follow the course. We understand that Plus500 may be a bit daunting, because in addition to cryptocurrency, it is also primarily a platform for shares. Plus500 offers a simple to understand platform that you will quickly master. If you do run into problems, you have the option to contact Plus500 24/7 via the chat on the site in Dutch.

The Plus500 offer

For a non-cryptocurrency specialized broker, Plus500 has a nice selection from which to choose. You can choose from more than 10 cryptocurrency, including the more famous coins such as Bitcoin, Ripple and Ethereum. You can also invest in the crypto 10 index. This is an index prepared for BITA, which allows you to invest on the performance of the top 10 cryptocurrency in the market.

Plus500 benefits

How does Plus500?

When you click on register on the Plus500 site, you will be taken to a login screen that you can know about each broker. How Plus500 works is therefore not that different from all other brokers. After creating an account you immediately enter the trading platform and you can trade CFDs for cryptocurrency or shares. Your account is still a demo account. So you still trade with fake money. At that point, just try something out and see how the platform works. When you are ready to start trading with real money, you can indicate this within your demo account. Our advice is not to switch too quickly to a real money account. Trade actively for at least two months with a demo account.

When you start trading with real money, you must deposit credit in your account, just like with many cryptocurrency brokers. You can deposit money in your account with iDEAL, but also with PayPal, credit card or bank transfer on the balance management page. With iDEAL, the credit will be added to your account the fastest. You must deposit a minimum of € 100 into your account and the maximum depends on several factors, such as the payment method. Withdrawing money is done through the same page. At the first time, Plus500 will ask for your bank details. A withdrawal request will be processed within 1 to 3 working days.

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76.4% of retail investors make a loss on CFD trading with this provider. It is important to consider whether you can afford the high risk of loss.

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At Plus500 you can trade with leverage

At Plus500 you trade with leverage. With leverage you can still make a big profit with a small investment. You borrow money from Plus500, as it were, which increases your profit. Unfortunately, that also applies to loss. So it is good to understand how leverage works. You can read more about margin trading on the Plus500 site and in our knowledge base.

Most beginner traders make a loss by using too much leverage.

Trading fees and rates

Just like with any broker, Plus500 charges costs because the platform must of course also make money. You may be used to cryptocurrency brokers that they charge a fixed fee per transaction, but Plus500 does not do this. Plus500 works with market spread. It works the same as a fee, as it were, but differs per product that you are going to invest in. The market spread is always clearly stated and varies between 2% and 0.02%. The costs at Plus500 are generally quite high.

Another cost item that you have to take into account is the overnight premium. If you hold a share for more than 1 day, you have to pay this premium as a kind of interest. Fortunately, the crypto coins within Plus500 are not affected by this premium.

When you have an account on Plus500 that you do not use. Charges Plus500 € 10 every 3 months if there is enough credit in your account. Logging in is enough to prevent this. Furthermore, Plus500 has no costs that you have to deal with. Depositing and withdrawing credit is free of charge.

Where do the negative Plus500 reviews come from?

If you search for Plus500 reviews, you will come across a lot of reviews. A large part of these are negative experiences. If you read these experiences, it is mainly about losing money through ignorance. Too little research is done into the platform before trading takes place. Plus500 offers risky instruments, where you really need to know what you are doing. By using high leverage, for example, you are gambling more than trading sensibly. Our advice is to first use the demo account extensively in combination with the different instruments. You need to get a feel for the platform and know what everything does. Only when you have mastered everything we recommend that you switch to real money.

Investors are unfortunately impatient and take too great risks. This usually results in losses and that in turn results in negative reviews. It is not the fault of the platform that a trader loses money.

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Open a FREE Plus500 Demo account

76.4% of retail investors make a loss on CFD trading with this provider. It is important to consider whether you can afford the high risk of loss.

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Is Plus500 reliable?

This is a question we often get and that is mainly due to the various Plus500 reviews that can be read, but also other brokers. When people lose money with a broker, they are more likely to write a negative review. So don’t let these reviews put you off. Negative reviews around Plus500 often arise because people are not used to trading with leverage. So take a good look at how this works in your demo account, so you will not be faced with surprises.

Plus500 is a reliable broker and is the market leader in online trading for a reason. They have millions of customers and also make millions of transactions per year. It is nice to see that the helpdesk is available 24 hours a day in Dutch. Plus500 is controlled by the UK FCA and is one of the strictest financial regulators in the world.

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Contact details:

Plus500UK Ltd

78 Cornhill

London EC3V 3QQ

FCA number:

509909

Regulated by the UK Financial Markets Authority (FCA)

Contact Form

iDEAL and Credit card

Paypal and Bank transfer

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Product Range:

Bitcoin (BTC)

Litecoin (LTC)

Ethereum (ETH)

Limits:

Minimum € 100

Maximum € 40K

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