In most cases, Plus will cover any payment processing fees associated with deposits. There are rare situations when you may incur a fee associated with transferring money into or out of your Plus account, but those are not from Plus; they are from your bank or payment issuer. Those situations include when you use an international credit card and the transaction is processed via a foreign acquirer, in the case of incoming or outgoing bank transfers, and in the case of forex conversions if you deposit a currency that the selected payment method does not support.
The only deposit fees that Plus will charge you itself would be if you exceed the maximum monthly withdrawals. Most of the services from Plus come with no commissions or fees. There are zero fees from Plus associated with deposits, real-time forex quotes, live share CFD prices, opening or closing trades, rolling positions, or dynamic charts and graphs. Instead, the company makes its money from the bid and ask spreads. Even so, Plus can offer some of the tightest spreads within the industry, a qualification that is based on its own internal monitoring. You can view the Plus spreads yourself by logging into your account, searching for the instrument you are interested in, and clicking on the i , which is the details icon.
From there, scroll to the info section, and you will see the spread. In some cases, there may also be a few additional fees from Plus, each of which depends on trading activity.
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There are fees for overnight funding, with the amount subtracted from or added to the account when you hold a position past a certain time. If you choose to use a guaranteed stop order to minimize risks, you get the guarantee that a position closes at your specified rate. In exchange, the spread is wider than it is with a typical order. As expected from a broker, Plus offers an economic calendar on its website. You can view yesterday, today, tomorrow, this week, or a specific date range you prefer.
The data on the economic calendar comes from Dow Jones. At the top of the economic calendar, you can also switch the view to a corporate events calendar. This will show you the time and day of the event, as well as the name and quantities with sections for cash, fiscal, and dividends. Because trading CFDs and forex includes a high amount of risk, Plus offers a range of tools to help keep that risk to a minimum. You can set these levels when opening new positions or editing existing ones. This type of risk management lets you set a rate at which point you will close your position automatically, protecting your profit or minimizing your loss for Close at Profit and Close at Loss orders, respectively.
Keep in mind that this type of order does not guarantee that the position closes exactly at your specified price level. Slippage may occur if the market price experiences a sudden rise or fall, which would lead to your position closing at the next price that is available. Guaranteed stops are similar but place an absolute limit on the potential loss.
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Even in cases when the instrument price moves against you significantly, the position will automatically close at the price you specified, and it can never include slippage. Guaranteed stops are only offered for certain instruments. There is not the option to remove an active Guaranteed Stop order, which is something you could do with a Close at Loss order.
Guaranteed Stops come with an additional spread charge and this is nonrefundable but clearly displayed before you place the order. Although the spread for a Guaranteed Stop is larger, it limits your risk and lets you know your maximum loss ahead of time. Another risk management strategy from Plus is a Trailing Stop, which lets you lock in profits.
The order automatically closes when the price changes direction and passes the number of pips that you specify. Essentially, a Trailing Stop makes it possible to place Close at Loss orders that automatically update as long as the market moves in your favor. The Close at Loss order gets activated when the market moves in an unfavorable direction.
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There is not a guarantee that using a Trailing Stop will close the position at the exact level of the Close at Loss due to slippage. This feature is also available free of charge. To help traders minimize their losses and make trading decisions, Plus offers the ability to set up a range of alerts. Alerts are free and simple to set up, and you can use them on all devices. You set up alerts via the main trading screen by clicking on the alert icon, which is shaped like a bell.
You can also view, remove, or edit your alerts via the Alerts tab that is on the application menu. To set up an alert, you start by selecting the alert icon next to the instrument you want an alert for. You then specify the details of the alert you want, including values, and will automatically get a notification in real-time when those conditions are met. Your alerts can be sent via push notifications, email, or SMS messages. Price alerts will inform you the moment that an instrument reaches the sell or buy price that you specified. Change percent alerts will notify you when the absolute price of an instrument changes either positively or negatively of a certain level.
You can set these up to recur daily or monthly. You set a percentage for buyers vs. This last alert is unique and allows for a small element of social trading. In addition to trading alerts, Plus also offers a range of notification options. Users can choose to receive these notifications via push, email, or SMS. Via the main platform, set up notifications by going to your Account and then clicking on Notifications. Via the application, go to Menu, then Price Alerts, and finally, Notifications.
You can get notifications when your account equity approaches the maintenance margin value as a way to prevent a margin call. You can also set up notifications for each time you open or close a position. Just keep in mind that as these are only notifications; you must actually log into the account to perform any actions or to accurately monitor your accounts. Plus takes extra measures to ensure that client funds are always protected. One of the most important steps toward reaching this goal is holding client funds on a segregated basis, as this follows the client money rules of the Financial Conduct Authority.
Additionally, Plus UK Ltd relies on its own money for any hedging, never using client funds for this.
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Plus UK Ltd will not pass client money to hedging counter-parties or initiate speculative positions within the market. PlusUK Ltd also has no exposure to sovereign or corporate debt and does not invest money that belongs to retail clients. This protection becomes useful in the unlikely event that Plus ceases trading or becomes insolvent. The team do not give out an extensive amount of information on their security protocols but do state that they employ a variety of methods to maintain the integrity of their platform, and these include the use of Secured Socket Layer SSL encryption.
The login process is also further secured as Plus also provides authentication through Google and Facebook in addition to implementing 2-factor authentication 2FA. This involves users being prompted to confirm the ownership of their accounts by using a unique confirmation code that has been sent to their email, mobile phone, or phone application.
The code expires after a few minutes, and requires the person logging into the account to have access to the linked email address or mobile phone which receives the verification code, this greatly reduces the possibility of user accounts being hacked and works in conjunction with standard user ID and password procedures. In the event of losing access to a smart device or needing to reboot a phone, it will prove much easier to restore the original settings or app once the device is back in operation rather than to have to contact the broker and pass extensive identity checks.
The process of transferring funds to and from the platform is also subject to various security mechanisms, and while depositing cash is generally quite straightforward, wire transfers can take up to five days to clear. Finally, with regards to client funds, Plus stores all client funds in segregated bank accounts, does not invest the funds of retail clients, and instead, uses its own reserves for hedging. As an industry leader in providing contracts for difference CFDs and leveraged trading, Plus naturally attracts a lot of attention and has over 2, instruments in its portfolio.
These include cryptocurrencies, commodities, Forex, ETFs, options, indices, and shares, with all trading instruments on Plus being leveraged. As a result, the platform is not suitable for beginners as the practice of CFD trading is more advanced than traditional trading, and leveraged trades can result in greater losses than may have first been calculated.
CFDs are derivative products and by nature, take or derive their value from the value of another asset or security.
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This means that cryptocurrency CFD traders do not actually purchase the cryptos being traded, this can act as a positive or negative with coin ownership seen as being an important aspect of buying cryptocurrencies. While CFDs can appear to be exciting financial instruments, they are inherently risky and are best left to experienced traders. Beginners should avoid them as they involve large amounts of research, and expertise related to limiting leverage and choosing the correct trade positions.
However, Plus incorporates a range of features that may appeal to more experienced traders and these include a proprietary trading platform which allows traders to operate in multiple markets from the same screen while also providing technical analysis software and real time quotes for all of its products.
The trading platform can be accessed as a web based version as well as a downloadable desktop version, and the mobile app versions for iOS, and Android smartphones allows users to log into their accounts while on the move.
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However, there is no telephone support, which can prove problematic for anyone whose internet service goes down or computer crashes while trading, and needs to be walked through a specific problem. Transparent portfolio and fee reports are also provided which clearly state the overnight fees charged, as well as your current portfolio status.
There is also no market news or daily technical analysis, and the platform also places little emphasis on providing educational resources for its clients. There is a complete lack of trading articles, blog posts explaining key markets, training videos, or supplementary resources anywhere on the website.
Having said that, the demo account can be opened for free, has no time limit and can be used to practise and fine tune a variety of trading strategies. This is valuable as trading on margin is a high risk activity and does not suit all types of traders, with operating on leverage accentuating the possible outcomes. Anyone who is still unsure of their trading capabilities should spend a considerable amount of time learning about CFD trading and testing out strategies before moving on to open a live account.
Many of the FAQ answers also include videos to show you the platform.
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If you do not find the solution to your issue on that page, go to the left side of the FAQ page below the categories. Here, you will see a button for emailing customer support and a button to start the online chat. Plus is a regulated broker with offices in London and more than 2, instruments available for trading. You can trade via Plus via your web browser or via its mobile application. This broker focuses on CFDs and forex, offering cryptocurrencies, indices, commodities, forex, shares, options, and ETFs.
It is available in a long list of countries and in 30 languages, helping Plus appeal to a range of traders.
It should be noted that CFD trading, especially using leverage is not something for beginners. You should have a strong knowledge foundation of how the markets work and carry out thorough research before beginning. The fact that PlusUK Ltd is regulated by the FCA is a huge plus and it will give you peace of mind that this trading platform operates correctly within the laws of the United Kingdom.