How to create a Plus500 digital wallet, and is verification necessary? Fees, registration, exchange, commissions, reviews, and account deposit.
Nowadays, cryptocurrencies are becoming increasingly popular and many people want to start their adventure with them. You can trade various currencies on cryptocurrency exchanges, with varying degrees of success.
Of course, it takes a bit of knowledge and sometimes luck to earn money using cryptocurrencies. One of the popular platforms for cryptocurrency trading is Plus500. What exactly is this service, what features does it offer, and how to use it?
Exchange Plus500 – general information
The Plus500 platform is a tool used by both beginners and experienced investors. It is a service that enables trading on the forex and CFD market. It provides access to basic features, and all options are described in plain language, without complicated sentences and industry jargon, which means that even the least experienced individual can try to invest their money there. It is a great tool for people who are just starting to invest on the OTC market.
The creators of the platform have added some very useful features, such as e-mail and SMS notifications, which makes it possible for the user to receive a notification of a price alert, or when a position is closed. This greatly facilitates the whole process and makes it possible for the user to stay updated. It is worth knowing that Plus500CY Ltd, which offers the Plus500 platform, is listed on the LSE main market.
A browser and mobile wallet on the Plus500
An interesting feature is the ability to use the service not just through a browser i.e. on a computer. The platform can be accessed through an application which is available in digital app stores. It works both on Android, iOS, and Windows Mobile. It is an incredible convenience, as users can constantly check their account and wallet, and thus make decisions at the best possible time, without having to wait until they can access their computer.
It is also worth bearing in mind that currently almost everyone uses a smartphone, but not everyone owns a computer. Therefore, this is a great advantage of the service, as it enables access for all interested individuals, regardless of where they are currently located.
Fees and commissions on the Exchange Plus500
An important fact is that Plus500 does not charge its customers commissions on their transactions. However, you may be charged for overnight financing, currency conversions and guaranteed retention orders, for example. Another fee you should be aware of is the inactivity fee.
It is charged when a user has been inactive for more than 3 months. This can amount to $10 at a time. However, all you need to do in order to avoid this is log in to your account. It is also worth knowing that if the account balance is 0, the fee will not be charged because there is no possibility to make an obligation.
Registration, verification, and logging in on Plus500
There are two types of accounts available on the platform – a demo and real account. A demo account is an ideal option for traders who are just starting their adventure with trading. This allows them to familiarize themselves with the platform and gain knowledge without the risk of losing money. A real account, on the other hand, is one that is intended for slightly more experienced users who wish to trade using real money.
To set up an account, you need to enter your e-mail address and then go to the “real account” section, where you need to fill in the required information. First, you need to fill in the form with your personal data, country of origin and address. Next, there are questions about your economic and financial knowledge that need to be answered. The next step is to submit documents that confirm your address and personal data. On the basis of all this information, the verification and decision to open an account is made. The final step in order to start earning money on the platform is to top-up your account.
What opinions does the Exchange stock Plus500 market have? What do they write on the forum?
A very important element of every website are its reviews. That is why you should check them before setting up an account and depositing money on any online platform. Plus500 has received positive reviews and the main advantages of the platform are ease of use, security, clear interface, and a lack of commissions.
However, it also has some drawbacks, and experienced traders point out the lack of charting, the small number of indicators, and the lack of advanced features. However, these are exactly the things that beginners consider a plus. As you can see, the reviews are divided, but this is only due to the fact that each user has different needs and expects different features.
However, it is worth taking into account the fact that this is one of the highest rated platforms of this type in the Apple App Store and Google Play. Clearly, smartphone users enjoy using it.
Payment and withdrawal to the account – Exchange stock Plus500
The advantage of the service is the fact that no commissions are charged for deposits and withdrawals. However, it is worth taking into account that the minimum withdrawal amount is the equivalent of 100 euros. You can withdraw money to a credit or debit card, using your Skrill or PayPal wallet, but you can also perform an ordinary bank transfer.
The time it takes to process your withdrawal is usually one business day. How quickly you receive the money depends on the method you choose and the specific bank you have an account with. This is due to the fact that different banks have different accounting times. It is important to remember that the quickest way to make a withdrawal is by means of an electronic wallet, as it usually takes up to 24 hours.