Plus 500 is good in as much as you can't loose more than your initial investment, but the number they quote is discretionary and often when you are clearly in profit in context of the underlying, they delay price updates and when that isn't enough they block your from selling such that the sell mechanism gets disabled. Gambling to make £100-200 give or take is probably OK provided you aren't skimming(which they provide no description of). But if you hop in and out in the space of an hour with a large exposure they will void your profit as skimming. Unless you lose in which case they don't mind.

And what's skimming?

comment by Melbourne Red. Do The Sharpey Shuffle (U5417)
posted 56 seconds ago
And what's skimming?
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If you stuck 10k in to get £1m leverage exposure and they price moved into your favour moments later and you cashed out 5k to the good. They would say you were skimming. Such decisions are arbitrary and at their discretion.

Isn't that the point of investing though, to be able to cash out when the price moves in your favour?

comment by Melbourne Red. Do The Sharpey Shuffle (U5417)
posted 31 seconds ago
Isn't that the point of investing though, to be able to cash out when the price moves in your favour?
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Plus500 is more like a book maker than an investment platform. You are basically betting whether a number they decide on goes up or down. They will also close your account if you do make decent money. A proper investment platform doesn't mind whether you make or lose money.

They sound like a right bunch of spivs.

To be fair their price on Litecoin is pretty much in line with the actual price, and the spread is minor.

comment by Melbourne Red. Do The Sharpey Shuffle (U5417)
posted 2 minutes ago
To be fair their price on Litecoin is pretty much in line with the actual price, and the spread is minor.
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Stick 20k in and watch what happens

Also what's with the instruments expiring after a few days? Is it because of the current growth in crypto currencies, they don't want you making a huge profit over a long period of time?

comment by Admin1 (U1)
posted 31 seconds ago
comment by Melbourne Red. Do The Sharpey Shuffle (U5417)
posted 2 minutes ago
To be fair their price on Litecoin is pretty much in line with the actual price, and the spread is minor.
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Stick 20k in and watch what happens
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Haha not a chance.

comment by Melbourne Red. Do The Sharpey Shuffle (U5417)
posted 11 hours, 39 minutes ago
Also what's with the instruments expiring after a few days? Is it because of the current growth in crypto currencies, they don't want you making a huge profit over a long period of time?
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Bought Iota with a long term view they expired within a day so I made a loss (minimal). Bunch of cūnts they are

litecoin looks to have levelled out

I'm up on all 3 currencies over the course of 2 weeks.

I cashed out £200 of litecoin yesterday. Left some in there and bought some bitcoin.

sounds like a plan MR.C, ima leave it on the even spread I have, 50 on ETH, 50 On BTC and 50 on LTC. All are up by different amounts and my account is up £100. Just let it fluctuate from there really.

comment by Nickasaurus (U9257)
posted 15 minutes ago
litecoin looks to have levelled out
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it's fallen a fair bit. Happy I cashed out this morning.

yeah, no point for me to cash out if it takes near 20 quid each time. So left it. still 90 quid plus up.

Mr.C or anyone, On coinbase, if I were to sell, it is only giving me option of into a EUR or GBP wallet, can I not sell directly into my bank? And how do I sell all>?

take it I need to put into my GBP wallet and then wire it to my account?

20 quid to cash out ?

I'm trying to add my bank account but it wants my Swif number ?

. Nick

Yeah withdraw to gpb wallet then withdraw to your bank account
No other way around it.

Superb, you need the swift code for your bank? I think a Google search would find this for you. Just type in swift code and your bank name.

Yeah the fees are a bit confusing at the moment
I'm getting 18 less than what it states when i withdraw from coinbase. Barclays say it's not them so I can only assume it's miners fee. But coinbase say they tell you how much the miners fee are before you withdraw.

If you click in the box where you type in how much you want to withdraw, a little button appears called "sell max" just click that and it will withdraw all.

Cheers Mr C, is that the same with the IBAN number ? Or is that just my account number as it is ?

They ask you to transfer €1 to some bank in Estonia to verify your bank account

comment by Mr Chelsea - Flustrated (U3579)
posted 13 minutes ago
If you click in the box where you type in how much you want to withdraw, a little button appears called "sell max" just click that and it will withdraw all.
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Did you go for Debit/Credit card or Bank investment?