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Plus500 Review | 9 Key Ratings for 2020 – AskTraders.com

This review aims to help potential traders learn about the broker, as it is a leading provider of CFDs for options, indices, ETFs, cryptocurrencies, forex, and shares. Companyis based in the UK and has its main offices in London. Plus500UK Ltd is a Plus500 Ltd subsidiary, with that company found on the London Stock Exchange…

This review aims to help potential traders learn about the broker, as it is a leading provider of CFDs for options, indices, ETFs, cryptocurrencies, forex, and shares. Companyis based in the UK and has its main offices in London. Plus500UK Ltd is a Plus500 Ltd subsidiary, with that company found on the London Stock Exchange and headquartered in Haifa.

The company was founded in 2008, offering an online trading platform that was PC-based and is growing quickly, currently offering clients a portfolio with access to more than 2,000 investments.

Strengths

  • Regulated and authorised by the FCA
  • The parent company is publicly listed on the London Stock Exchange’s Main Market
  • The platform is easy to use

Weaknesses

  • It offers limited research, analysis, and educational tools

What can you trade?

£100
Min Deposit

Mid
App Support

1:30
Max Leverage

Any Plus500 forex review should indicate the breadth of instruments that the broker offers in this category. Offers a basic introduction to trading forex for clients to explore if they are new to this market.

There are more than 50 forex pairs available, offering leverage of up to 1:30 for retail clients. To help clients minimize risk, there are advanced trading tools, such as Guaranteed Stop, Stop Limit, and Stop Loss. This forex review also clarifies that there are no commissions for forex trades, as the broker primarily makes it profit on these assets via spreads.

£100
Min Deposit

Mid
App Support

1:30
Max Leverage

Any Plus500 CFD review will likely indicate that most instruments offered from the broker are only offered as CFDs. This includes cryptocurrency, indices, stocks, ETFs, options, and commodities.

Trading indices in the form of CFDs allows clients to enjoy leverage of up to 1:20 on the 31 available indices. There are also 22 commodities available, also with leverage as high as 1:20. The flexibility of CFDs is also important to note, as they offer the ability to put or call options with leverage of 1:5. Users can choose from popular options, such as Germany 30, Facebook, and Oil.

£100
Min Deposit

Good
App Support

1:30
Max Leverage

The stocks available from this broker also are important to note in a CFD review. Plus500 does not allow traders to directly trade stocks but instead offers Contracts for Difference on them. This allows for the use of leverage.

Trading share CFDs with Plus500 gives clients a way to trade without stamp duty, allowing for savings of 0.5 per cent over traditional share purchases in the UK. There is also the ability to open a sell or buy position to make a potential profit in any type of market. Shares can have leverage of up to 1:5. Stocks are available from 22 different countries, including the United Kingdom and the United States. Additionally, you can review UK cannabis share offerings.

£100
Min Deposit

92
App Support

1:5
Max Leverage

No Plus500 UK review is complete without also mentioning CFDs of Exchange Traded Funds.

By trading these ETFs in the form of CFDs, broker can offer leverage of up to 1:5. There are more than 90 ETF CFDs for traders to choose from.

£100
Min Deposit

Few
App Support

1:2
Max Leverage

This broker also offers access to digital currencies, so clients should be sure to read Plus500 cryptocurrency reviews. As is common from brokers, cryptocurrencies are only available from Plus500 in the form of CFDs. This way, there is no need to get a digital wallet.

As you examine cryptocurrency review, you will notice that the broker offers access to more digital currencies than most competitors. Clients can trade Bitcoin, Ethereum/Bitcoin, Ethereum, Litecoin, NEO, IOTA, EOS, Stellar, Monero, Bitcoin Cash ABC, Tron, Monero, or the Crypto 10 Index. Leverage when trading these cryptocurrencies can be as high as 1:2, and the market is available 24/7.

What did our traders think after reviewing the key criteria?

Most Plus500 reviews agree that the broker remains competitive in terms of fees. It prides itself on being transparent about fees, without any surprises that will cut into the profits of traders. Most of the broker’s profits come from its spreads, which its own internal monitoring determined are among the industry’s tightest.

Also, you will notice that there are absolutely no fees for deposits, opening or closing trades, rolling positions, live sharing of CFD prices, real-time forex quotes, or dynamic charts and graphs. You will not have to pay any fees for withdrawals, the only exceptions are if your payment provider charges a fee or you exceed the maximum monthly withdrawals allowed, which is a generous figure.

For full transparency, you can easily review forex and CFD spreads before making a trade. The only downside is that this information is only visible when logged in. Just search for an instrument and then select the (i) details icon.

Our review does caution clients that the broker has certain fees. There is an inactivity fee of as much as USD 10 each month if you do not log in for three months or longer. There are also fees associated with overnight funding and guaranteed stop orders.

For more information on fees related to this broker, check out our guide to Plus500 fees and charges.

A Plus500 cryptocurrency review is likely to find the broker lacking in terms of the types of accounts offered. There is only a single type of retail account available, in addition to a professional account and a demo account.

In some cases, will allow clients to have two trading accounts, but this requires approval. Without approval, has the right to close the later account(s). Additionally, if a trader does get approval for multiple accounts, they will be independent, without the ability to transfer funds between them.

The demo account offers traders a way to get a feel for trading or to review forex rates and trading platforms themselves before investing real money. One very strong point is that you can use the demo account for as long as you want to review; in contrast, most competitors place limits on their demo accounts. Additionally, if the demo account’s balance reaches 200 EUR or lower (or its equivalent), it will automatically be reset, so you can continue to practice trading. This allows even experienced traders to use the demo account to plan strategies.

Professional customers can increase their leverage but must sacrifice their negative balance protection. Leverage on professional accounts can be as high as 1:300 for forex and indices, 1:150 for commodities, 1:100 for ETFs, 1:20 for shares and cryptocurrency, and 1:5 for options. All of these, except options, are higher leverages than you will find when you review retail accounts.

As is the standard across similar brokers, to become a professional client, Plus500 requires two of three criteria be met: (1) significant trading activity in the past year, (2) a portfolio with more than €500,000, or (3) experience in the sector of financial services.

Our Plus500 UK review team appreciates that the broker offers platforms for desktop and mobile devices but cautions that some traders will be disappointed in the lack of a familiar platform. Your Plus500 CFD review will not show you MetaTrader or any other platform you have likely used before.

plus500 platform

Even so, the platform offered is highly intuitive, and it is set up similarly to those of most other brokers. As such, few people who review broker via a demo account will take long to get used to the broker’s platform.

The compatibility across devices is impressive. In addition to an Android app and an iPhone/iPad app, even offers a Windows Phone app, something that is incredibly rare. There is also a Windows 10 desktop trader, although one is lacking for Mac OS. Mac users will have to rely on the Web Trader, which is compatible with Edge, Firefox, Chrome, and Safari. Although the broker does not offer access to the platform without logging in, there are sufficient images available via the download pages to give you a feel for it.

In a review of Plus500 UK’s website, we found it to be highly usable. It has a clean, professional design with more colour than some, courtesy of the blue background. It is well laid out, making it simple to find the relevant sections as you review their offerings. Clients should be able to easily find information on the instruments offered, fees, and the company. The search bar also adds a convenient touch, as does the support for 32 languages.

The main support page for Plus500 is the FAQ section. This includes the information that clients and potential clients are most likely to be in search of. As expected, our review found the division of questions into categories and the inclusion of a search bar.

One feature that sets this cryptocurrency review apart from those of competitors is the 24/7 support availability. Most similar brokers only offer 24/5 support, so these extended hours should be reassuring to clients.

The options to contact Plus500 support directly are found on the FAQ page. These include the expected online chat and email, in addition to WhatsApp. A phone number would be an appreciated addition, as many clients prefer that mode of support, but our UK review found that the support via WhatsApp makes up for this in some respects.

plus500 who we are

Our Plus500 review explains the various deposit methods available for the broker’s clients. For added convenience, videos detailing some of these deposit methods are found in the FAQ section.

Card Payments

Card payments are accepted for deposits to Plus500, but only debit or credit cards from MasterCard or Visa.     

Bank Wire Transfer

Bank wire transfers are one of the choices for deposits. However, the process for starting one is slightly roundabout. Clients must begin the transfer process and have automatically email them the details they will use to complete the bank transfer.

E-Wallets

It is also possible to make a deposit using electronic wallets, including Skrill and PayPal.

Our Plus500 review found that one area where improvement is needed is in educational materials and trading tools. The broker does offer an economic calendar as well as risk management tools, such as Close at Profit (limit) and Close at Loss (stop loss), Trailing Stop, and Guaranteed Stop orders. These also include convenient explanations with examples for beginners.

There is no obvious news or analysis available, something most brokers offer. To make up for this, traders can sign up for real-time push notifications, emails, and/or SMS alerts for per cent changes, price alerts, and traders’ sentiment per cents.

The educational content is also somewhat limited, with a single Trader’s Guide section. There are only five educational videos there. As such, all traders will need to find outside sources for additional education.

Our Plus500 review team is reassured by the regulation and deposit protection offered by the broker. Those who review broker’s policies will find that the Financial Conduct Authority (FCA) authorises and regulates it. This entitles retail clients to coverage under the Financial Services Compensation Scheme, with compensation up to £85,000 per person.

As part of this regulation and authorisation, holds client funds on a segregated basis. Plus500 does not invest funds from retail clients and only uses its own funds for hedging.

There is no indication on its website or in any previous Plus500 review that this broker has been honoured with awards in the past. However, the broker does have many partnerships that can increase users’ confidence, including with Atletico de Madrid, Brumbies Rugby, Mercato 24, FX Empire, and Finanzen.net.

plus500 milestones

Plus500 FAQs

You can withdraw your funds from Plus500 through any of the following methods

  • Card Payments
  • Bank wire transfer
  • eWallets

The broker does not charge a fee for withdrawals but routes the payouts to the same payment gateway from where your deposits originated. So, if you have deposited funds from your card, the withdrawal would also be processed to your card.

Plus500 offers two account types – Standard and Professional. The minimum deposit for both the account types is €100/$100/£100. However, these would depend on your payment method too. For instance, the minimum deposit is €100/$100/£100 if you deposit funds via eWallets, Visa/MasterCard, Apple Pay, Trustly or Skrill. But, in the case of bank transfer, the minimum is €500/$500/£500.

The Plus500 leverage depends on the regulatory authority governing the broker. If you sign up with the CFD broker in Europe or the UK, the stringent regulations permit max leverage of 30:1 for retail clients. However, professional clients and those registering with the broker under the Seychelles Financial Services Authority receive max leverage of 300:1. Likewise, if you are residing in any other country like New Zealand or Singapore, the leverage could be different.

Plus500 offers more than 2000 financial instruments across FX, commodities, cryptocurrencies, shares, indices, ETFs and options. Besides, the broker is regulated in multiple jurisdictions, making them safe when it comes to depositing funds. However, there isn’t much for beginners in terms of education, and the proprietary trading platform could be challenging. So, if you are a beginner, you could look for a regulated broker offering the globally-acclaimed MT4 platform along with excellent trading conditions.

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Neteller Launches Cryptocurrency Exchange Service

Neteller Launches Cryptocurrency Exchange Service

Neteller  one of the most known Digital fiat currency wallet provider , has started allowing its users to buy, sell, and hold cryptocurrencies including BTC, BCH, ETH, ETC, and LTC.

They do this on the large scale with a pilot in 10 countries and soon another 50 countries to join . They understand that if you do this effort it will only succeed if you can do this on a global scale.

Neteller and Cryptocurrencies

Neteller is a service which is operated by Paysafe Financial Services Ltd.,

paysafe

paysafe

founded in 1999, Paysafe Financial Services entered the market with the mission to provide an online alternative to the known traditional payment methods.

Most of the traders aiming us now neteller as one of the companies through which we made our deposits and if we had any profits also our withdrawals. A couple of years ago they left the Forex and Binary industry behind since the charge-back issue became just too expensive.

But as any companies knows, if you do not adept you die. The binary option market is all but dead and the Forex industry has moved also into the directions of the cryptocurrencies. thus, neteller understands that this is where the future is.

So Lasts week they announced that they are now offering a wallet with buy and sell cryptocurrency options.

As of today, Neteller users can buy, hold and sell cryptocurrencies via a recognized cryptocurrency exchange including bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin, purchased using any one of 28 fiat currencies available in the Neteller wallet.

It may not seem so exciting but for many users that love this service it actually is. More and more currencies will be added making them an true exchange in the near future.

Now one is able to fund their neteller account through many different means (Mobile, Epay, Paysafecard, local bank deposits, and bitcoin)

We think that will make the threshold for many people, who would want to buy or sell cryptocurrencies, lower. This in return is a good thing for the overall acceptance of the cryptocurrencies in the mainstream of every day life.

Conditions for buying and selling cryptocurrencies through Neteller

The rates offered are somewhat in the lower middle of the current market making them go for the save route. The average market rates on the major cryptocurrency exchanges differ all in all not that much anyways, as this is not the main reason to choose to buy Bitcoin through Neteller

The minimum cryptocurrency purchase or sale amount is “approximately equal to 10 EUR,” the firm clarified, adding that the maximum amount depends on the transaction limits associated with each account.

When You open an account with Neteller you have to choose your default currency. This is of course for most people in accordance on their geographical locations, people in Britain will go for the pound most Europeans go for the euro and pretty much the rest of the work goes for the US Dollar, thou other currencies are available

The fee is 1.5 percent for purchasing and selling cryptocurrencies from wallets with EUR or USD as the default currency.

The fee rises to 3 percent for wallets with other default currencies.

Neteller  | Why is this a good move for neteller and one that we should expect from other online Payment providers as well ?

At this moment till last week Neteller users can pay, get paid on thousands of sites, and send money around the world through their system.

The company claims to have “millions of point-of-sale, ATM and online locations” for users to withdraw or spend their cash.

Last July 25, Paysafe ( which as you remember is the company that owns Neteller and Skrill)  announced that another digital wallet provider in its group, Skrill ( formerly known as moneybookers), started allowing customers to “instantly buy and sell cryptocurrencies, including bitcoin, bitcoin cash, ether and litecoin, using any one of the 40+ fiat currencies available in the Skrill wallet.”

We could now see that this was like their test run on this concept.

We do not know the numbers that Skrill produced since they offered this service but it must have been encouraging enough for Paysafe to include their flagship brand in this endevour.

We will see where this leads but we are hopeful that this is the next step in global acceptance to the cryptocurrency revolution. Let me know what you think

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The basics of trading that one should know

The basics of trading that one should know

Things you should be aware of before you start

The currency trading industry and now also the cryptocurrency trading industry have gone through enormous volatile times the last couple of years. Now with trump and its trade wars. The fast rise and somewhat recline of the cryptocurrencies and the fast pace of international politics and economies that create high rises and steep fall of the currencies.

So what does it all mean and what can you do before start to trade on these news headlines.

Good brokers like LegacyFX and UBCFX provide the traders with the latest market news and updates on a continuous basis but if you are new to trading you still have no idea what to do with this.

You start by understanding that the involves a high degree of risk, including the risk of losing you hard earned money. Besides the ones that were lucky enough to have bought Bitcoin a couple of years back and cashed in in the end of 2017, most people don’t get rich overnight.

You have to understand that you only trade with money that you are able to lose, going hungry because you want to open a trade is not the right wy to go about it.

So, What is Forex?

You should by now understand that the value of currencies goes up and down every day.

This in general becomes apparent the moment you go on vacation and what you bought last year with your money now is not the same amount you get today at the exchange.

This is on a large scale, what a lot of people do not know is that there is a foreign exchange market – or ‘Forex’ for short – or “FX” for even shorter, where you can potentially make a profit from the movement of these currencies.

The most known Trader is George Soros who made a billion dollars in a day by trading currencies. This is of course on a scale that we are not able to reach and you need a huge amount of money to begin with. Still he made a billion in one day!!

The internet has played a huge part in making trading in currencies accessible for the masses. You also do not need huge amounts of money to actually do this. Now keep in mind that if you make 10% profit on your investment but the investment was just $50 you basically just end up with $55. still no bank will give you 10% interest on your money.

Many people and I am talking millions are now trading every day, most do this on the side and don’t do this as a full-time job, but there are today enough people that are full time traders and making enough money to live comfortably.

Retail forex market needed Brokers

The Forex market for the retail market was born, it started around 15 years ago to become more serious as technologies advanced and the stream of information became almost instant, this is important for trading as one second can make the difference between profit or loss.

So, the moment the technology was there the people that wanted to trade were there all that was needed were the Forex brokers that offered the platform for trading.

There are latterly hundreds of companies of not thousands that offer this service and there are good ones like LegacyFX and there are scams (these tend to not last long)

Forex explained in short

The Forex market is the largest financial market on the planet and has been for many years now.

Its average daily trading volume is more than $4 trillion. (just let that number sink in for a second). Of this total amount around 5% is the retail market meaning traders like you and me. Still 5% of 4 Trillion is still a number with a lot of zeros behind it.

If you compare that with the New York Stock Exchange, which only has an average daily trading volume of $55 billion. You truly see the size.

To give you another example:

if you were to put ALL of the world’s equity and futures markets together, their combined trading volume would still only equal a 25% of the daily Forex market. Insane right?

Why does this even matter?

It matters because there are so many buyers and sellers that transaction prices are kept low. To explain how trading the Forex market is different than trading stocks, here are a few major benefits.

  1. Most Brokers don’t charge commissions – you pay only the bid/ask spreads.
  2. There’s 24hour trading – you decide when to trade and how to trade.
  3. You can focus on your currencies and become experts in only those pairs that you follow instead of following and selecting out of 5000 stocks
  4. You can trade on leverage, (something to be very aware of as it can magnify potential gains but also your losses).
  5. Forex is accessible for almost everyone– you don’t need a lot of money to get started
  6. In the Forex market you can trade on Demo accounts to learn before you commit your money

How is Forex traded?

The mechanics of a trade are virtually identical to those in other markets. The only difference is that you’re buying one currency and selling another at the same time.

This is also the reason as to why the currencies are quoted in pairs, like EUR/USD or USD/GBP.

The exchange rate represents the purchase price between the two currencies.

Example:

The EUR/GBP rate represents the number of GBP one EUR can buy (relevant now with all the Brexit issues going on) . If you think the Euro will increase in value against the British Pound, you buy Euros with British Pounds. If the exchange rate rises, you sell the Euros back, and you cash in your profit.

Now the same works for strading Bitcoin, ethereum, Litecoin or other cryptocurrencies. this has become an entire new market and has introduced many people to Forex . you should here be also aware that trading cryptocurrencies is like regular trading so you will be able to lose great sums of money.

the Best thing i found about trading cryptocurrencies is that the Leverage by default tends to be very low which makes the risk of losing it all much smaller.

Sounds simply enough?

Why does not everyone Trade.

The same could be asked as to why not everyone plays poker, you can make money. The comparison between the 2 is actually closer than you might think.

All traders that are successful will tell you that 80% of successful trading is psychology and the other 20% is research. It takes time to get the research down, but it can take a lifetime to master the psychology.

People tend to do things differently when real money is on the line and are accepting losses in the hope that the trend will reverse or taking out profit too early because they don’t want to lose what they just have gained. In short, the psychology is the hard part.

One should be aware that you can loose real money and a lot of it very fast if you don’t know what you are doing.

Now most Good Forex brokers offer some educational tools, some more than others that will teach you how to trade. There is also something that is called social trading that will allow you to follow other traders and see what they are doing in order for you to learn and make money at the same time.

So here are some ground rules for those that look to start trading

  1. Get involved in the market, watch read and listen to the news to understand what is happening
  2. Go through a trading course ( a good one is here)
  3. Open a demo account and trade at least a month (my advice to do this even longer)only on this before you even think about trading with real money.
  4. Check out social trading, there are some options for this, this broker offers this also.
  5. Try with an amount that you are able to afford losing. See this as your tuition money.
  6. Take it slow, don’t become greedy and follow the basic rules

Basic Rules (there are many more but start with these)

  1. The trend is your friend
  2. Don’t add money to a losing position
  3. Don’t trade on too many different currency pairs
  4. Trade only with a good broker
  5. Don’t open to many positions (no one needs 100 positions a day)
  6. Develop your strategy and stick to it.
  7. Know that NO ONE is 100% of the times right, everyone loses some.
  8. Last but not least, don’t trade with money you cannot afford to lose.

Now all that I want to say is good luck.  😊

 

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Wanted Cryptography Experts in China

 Wanted Cryptography Experts in China

The sooner we get to the official launch of China Digital Money. the more Cryptography Experts are needed.

it almost is surreal as they pushed against this from the beginning but now S China digital money may soon be a reality.

The Bank of China (PBOC) is hiring cryptography experts by the masses as reported by the South China Morning Post (SCMP)

this is the latest in the Chinese efforts to have a state controlled cryptocurrency for its own means.

The institution is one which worries a lot about the effect of investor activity in the cryptocurrency market. this in great contrasted to the directive issues in 2014 by the PBOC  that Bans any activity related to the cryptocurrency market.

Yet the Central bank of china started to build their own work force for building and developing their crypto in 2017.

something like if you can beat them , copy them.

in 2017 the Yicai Global reported that this targeted workforce would work from central Beijing as was to be names the  digital currency research institute

This research institute would primarily focus on the latest in digital currency technologies and all the different applications that would benefit from cryptocurrencies.

the former deputy director of the PBOC’s science department, Mr Yao Qiann would be in charge of the overall project

since then they are expending with opening a new research institute expanded in Nanjing . the idea for this center is to create more interest n the technologies and its possible applications.

the pilot programs are to be implemented by state controlled banks and academic institutions which should result in blockchain hubs that would attract new developing talent and additional capital to further develop the cryptocurrencies.

“Beijing’s ideal digital currency must ensure the smooth running of monetary and financial stability policies and at the same time protect consumers.”

Apparently, the ultimate goal for the Digital Currency Research Institute (DCRI) was to clear the path for a national cryptocurrency. Reports indicate that the fintech hubs will serve a purpose higher than initially believed. Reportedly, the hubs will serve as testing ground for China digital money. Here, the currency will undergo tests from prototype phase to future mass production.

and thus we get to the point that they are looking aggressively for new talent in the cryptographers and computer scientists sectors. now that more and more student have said good bey to the united states in the last couple of months after feeling they were less welcome this drive for finding new employment has only intensified and is answered by the large amount of brilliant young people coming back to live in chine after their education abroad.

The salaries are even higher then what they would have earned if they would stayed in the US and gone of to work in some of the companies in the Silicon Valley.

So we could expect that China is now also looking to become a world player in this industry as they have become the leaders in so many other fields.

 

 

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