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Prospective traders who don’t know how to get started should take an interest in plus500 demo, the Plus500 broker’s demo account. It allows you to try out all the options available on the platform. The plus500 demo account is 20% free and unlimited – all functionalities are available on it.
Plus500 demo – how to create one?
Does Plus500 offer a demo account? Yes. Deciding to create a demo account with Plus500 broker, the user will receive a fictitious sum of money, with which he will be able to open and close investment positions as he sees fit. He will learn what trading with real money could look like in practice.
A Plus500 demo account is very easy to create. This can be done very quickly by going to the broker’s website and providing an email address and setting a password for the account. It is worth knowing that you can register through either your Google or Facebook profile. After entering the required data, the free Plus500 demo account will be created immediately.
Switching to a real account
If the user feels that he has already practiced sufficiently on the demo account, he can choose to deposit real money in the Plus500 account. Before that, however, he will have to complete the account with the required information. What is the minimum deposit for Plus500? The minimum amount he must deposit to start trading with real money is a minimum deposit of $100. As soon as the user decides that this is the right time, he should switch to a real account.
When do you decide to switch to a real account?
There is no universal answer to such a question. It all depends on the investor’s individual situation and whether he feels up to the task of starting to invest in the real stock market. However, it is important to remember that real trading involves the risk of losing capital. If you understand and accept such conditions, you can start trading on the stock market. However, it is advisable to deposit a small amount of money at the very beginning and not throw yourself into deep water.
Plus500 demo – what is worth knowing?
The demo version is a very important part of any trading platform. The opportunity to dress with virtual money on the real market, allows you to gain practical skills that are devoid of any investment risk. What can you expect from the trial version of Plus500?
Free Plus500 account
The platform offers access to an unlimited demo account for any trader. The demo account comes with a virtual capital of $40,000, which he can allocate in any way he wishes. Of course, if a profit is made, the investor is not allowed to withdraw them.
The demo account is traded only for practice purposes and with virtual money. To register on the training portal, all you need to do is provide a valid e-mail address, as well as a password (read also: Forex training courses). Immediately after that, the user will receive access to the account and will be able to start trading and get acquainted with the world of CFDs.
Resetting your Plus500 demo account
Wanting to reset the demo account on Plus500, the user needs to contact customer service. He can do it directly from the trading platform by clicking on Live Chat. Customer support will assist in resetting the Plus500 demo account.
Deleting or canceling a Plus500 demo account
Final deletion of a demo account is possible only by canceling it. This has to be done in writing, addressing the broker directly. However, in the case of the demo version, there is no need to delete the account, as there is no time limit, nor is real money traded. So there are no transaction costs and the trader can use it at any time.
What is Plus500?
It is a trading platform founded in 2008 and registered in the UK, which has offices in Cyprus, Singapore, and Australia. It is a leading CFD provider in the financial market.
Plus500’s platform is built on innovative trading technology, so it offers good conditions for trading CFDs on ETFs, indices, cryptocurrencies, currencies, commodities, and stocks (read also: How to invest on Plus500).
It is one of the few brokers that went public in 2013. Its shares were listed first on the London Stock Exchange’s AIM market, and rose to $75 million. That translates to a market capitalization of $200 million.
The group offers online access to a comprehensive line of products, including stock index markets, foreign exchange, cryptocurrencies, commodities, options, and ETFs (read also: Investing in the Forex Exchange Market). It is the first broker to introduce bitcoin CFDs. What’s more, it doesn’t charge any commission on transactions. All costs are included in the spread for each of the more than 2,000 trading instruments that are offered on the WebTrader Plus500 platform.
Plus500 demo – how to use it?
Plus500 platform is a very friendly tool and convenient to use. It is very easy to search for the desired CFD market, and the available balance is displayed on the top bar. The user can easily track his profits. The middle screen of the platform displays the stocks in which the user can invest, along with the prices. He can very easily search for all the assets he is interested in, and transactions can be made with a single click.
Many people open positions on the demo account in a chaotic manner. However, such an approach will not allow the user to gain much from practicing on the demo account. It is worth testing several different investment strategies on it (read also: Forex strategies). The demo version allows you to experiment without incurring any investment risk. The issues to pay attention to are:
- Technical analysis – the user should try to catch price trend patterns, and react to them in the right way,
- Fundamental analysis – it is worthwhile to analyze the statistics and figures behind a certain company and make decisions based on them,
- The user should try to predict people’s reactions to specific events.
It is a good idea to write down all the trading actions taken, as well as the reasons that drive them. This will let you know whether your investment strategy is producing the desired results. To be a good trader, you need to be able to learn from your mistakes.
Opening a position on Plus500 demo
The whole trading process starts with opening a position on the market. When deciding to open it, you either open a sell or buy position. You buy when there is a chance that the price will rise in the future. The asset can be sold at any time, but it is best to do so at a profit.
When you click on a buy or sell option, an order window will appear. Once you open a trade, you can follow it to get the best profits and know when to close it.
The Plus500 platform allows you to research and speculate on trading charts. This allows you to reduce the risk of loss from a trade. What’s more, the tool comes with a number of tools that help you reduce your investment risk.
You can also use leverage, wishing to maximize your profits, but you should also be aware of the risks that come with using leverage.
What can I trade with the demo version of Plus500?
Plus500 demo allows you to trade, which is done through CFDs, through which you can trade Forex currency pairs, stocks, index funds, and commodities. The Plus500 broker’s offering has lunched a thousand different CFDs. As a result, there is something for everyone, whether a beginner or an advanced trader.
Before opening a demo account, it’s a good idea to find out what the broker offers and what financial instruments you can invest in through it.
This broker offers CFDs on a number of unique indices, which are based on the best-listed companies in a specific industry. Some of the popular index CFDs that Plus500 offers are:
- US Tech 100 – this is the top 100 technology companies in the United States, according to revenue, based on the NASDAQ 100,
- USA500 – this is an index that follows the movements of the S&P 500 index,
- VIX Volatility Index – is built on the basis of the CBDOE’s so-called “fear index” and tracks S&P 500 futures to predict volatility,
- Cannabis Stock Index – BGCANG tracks the top companies in the cannabis industry,
- Crypto 101 – this index tracks and measures the performance of the top 10 cryptocurrencies on the market.
The Plus500 broker also offers currency trading on Forex, the world’s largest market. The Plus500 platform offers 24-hour CFD trading in currency pairs, which begins at 8:00 a.m. Sydney time on Monday and is open until 4:00 p.m. New York time on Friday.
In principle, Forex refers to the purchase of one currency for another. This broker offers the opportunity to trade on more than 70 different currency pairs.
Commodity CFDs are available from this broker with leverage of up to 1:20. Most of the financial instruments that Plus500 offers are based on futures contracts from major world exchanges. The most popular commodities are:
- Brent crude oil,
- WTI crude oil,
- Natural gas,
- Gold (read more: Gold investment),
- Silver (read more: How to invest in silver).
The cryptocurrency market is highly diversified. People who understand blockchain technology if necessary, after a few steps, set up their own cryptocurrency (read also: Investing in cryptocurrencies).
Currently, there are more than 1,600 different cryptocurrencies, which are listed on medium, major, and specialized exchanges. Plus500’s offering also offers the possibility to trade cryptocurrencies. Back in 2013, the group introduced the ability to trade Bitcoin CFDs.
Crypto-10 Index Plus
Plus500 also offers Crypto-10 Index Plus, which is a cryptocurrency fund. It is a transparent as well as objective measure of the price returns of top cryptocurrencies. They are measured against the U.S. dollar, which can be traded on the most popular digital asset exchanges from around the world.
The index includes each of the top 10 cryptocurrencies, which are weighted by market capitalization. However, it does not include stablecoins such as Tether.
Plus500 offers the opportunity to buy stocks from all popular markets, e.g. UK, German, and US, along with leverage options and relatively low spreads.
With advanced trading tools, traders can easily control profits and losses. When trading CFDs on stocks, it is possible to use a leverage of 1:5. However, it is important to keep in mind that when choosing to trade with leverage, a large proportion of retail investors’ accounts are subject to very high investment risk.
The Plus500 platform offers CFDs from various global sectors, which include:
- Consumer goods,
- Real estate,
What are the advantages of Plus500 demo?
One of the main advantages of a demo account on Plus500, is that the user does not need to download additional software. The program is operated entirely over the Internet.
The demo account is a faithful copy and simulation of a real investment account. It allows the investor to gain practical knowledge of how to use Plus500 software. Notifications are systematically sent to inform the user about important events. Such notifications very often have an impact on market stability, resulting in opportunities for investors to open profitable positions.
Plus500 demo is a demo version that has a number of interesting options. One of them is the ability to trade with leverage, which allows you to open larger positions using less capital. In addition, there is also a short position function for CFD stocks at users’ disposal. In the case of short selling, the trader can speculate on a falling price.
Plus500 platform and its capabilities
Although the platform that Plus500 offers is an easy-to-use tool, it is equipped with several interesting features. One of them is free notifications in the form of SMS and e-mail. These can concern, for example, opening and closing positions or price alerts for specific financial instruments.
Another useful feature is the so-called movement snapshot. This is a tab under which you can see the balance of your account with a breakdown of the value of your positions in each market, along with leverage. Apart from the few options presented, the plus500 platform is not equipped with many innovative improvements, but this was the intention of its developers. Plus500 places much more emphasis on reducing trading costs, as well as easy trading.
The platform has a clear interface, and a small number of tabs as well as subdued colors make it very easy to use. As a result, novice traders will certainly be able to handle it without any problems. Intermediate traders will also be satisfied with this platform. On the other hand, for professional traders, it may be too poor in additional functions. For novices, Plus500 demo is recommended. It is best to start with a demo account because in this case there is no risk of losing the invested funds.
For computer and mobile devices. Plus500 app
Like other reputable brokers, Plus500 also allows investors to access the platform in both desktop and mobile versions. The tool can be operated from mobile devices that have Android, iOS, and Windows Mobile.
Mobility translates into quality trading. Mobile applications allow traders to conveniently make and manage their investments from a smartphone or tablet with access to the web (read also: Forex trading apps). This puts traders in control of their investments anytime and anywhere in the world. This is a great convenience, especially for those who spend a considerable amount of time on the go.
Read also: Trading app – which is the best?
How to trade on Plus500?
It is worth remembering that the platform is very intuitive. All you have to do is log in, go through the verification procedure and you can make trades. Below is a practical guide.
Logging in to Plus500
The whole process is not complicated and usually takes several minutes. Plus500 registration is simple and fast:
- First, go to the Plus500 website. After clicking on the button – start investing now, the user can begin registration,
- He or she will then be taken to a new tab where he or she can choose a username and password, as well as provide an email address. It is also possible to create an account using either a Google or Facebook account,
- After that, Plus500 will send the user a verification text message to the phone number provided earlier,
- The user will also be asked to provide detailed personal information, such as first name, last name, place of residence, date of birth, and PESEL number,
- After that, a number of questions must be answered, including sources of income, savings, and why the trader wants to start investing,
- In the next set of questions, the Plus500 platform will ask about the user’s experience in stock market investment topics.
Once the user has completed his profile, all that remains is to deposit money into the investment account. To do this, click “manage funds, and then select the “deposit” item from the list.
As for payment by card or PayPal, the minimum withdrawal amount is EUR 100 and the maximum is EUR 40,000. If the trader chooses to pay by bank transfer, the deposit increases to $500 and the maximum to $60,000.
There is a “try a free demo account” button on the main page. Plus500 demo is for people who consider playing the stock market only as a hobby or prefer to try the platform first without using their money.
The user will receive 40,000 euros on it, which can be freely distributed. When they are lost, they will automatically be restored so that the user can start again.
After registering for his account, the customer can go to the main tab – “trade”. He can easily search for the instrument he wants to trade and then click buy or sell, and the position screen will open. On it, he can choose the size of the trade, such as the number of ounces, shares, etc.
Is it worth opening an account on Plus500?
Plus500 broker is a leading CFD broker from all over the world and therefore its offer is really rich. It also stands out from its competitors with unlimited access to a demo account, a relatively low minimum deposit, and many accepted deposit options.
What’s more, the broker offers support in Polish, which will certainly be appreciated by those who are not fluent in English.
However, the disadvantage could be that it is exclusively a CFD broker. CFDs are very complicated products and many customers of retail accounts generate losses. They are usually not suitable for beginners.
The broker’s offer is aimed at more experienced traders and they are usually the ones who use it. For less experienced traders, there is a high risk of losing invested capital due to CFD trading.
Some traders find Plus500’s trading platform too simple – too few indicators, settings, and the inability to use custom trading systems.
The disadvantages also include the need to hold a position for at least 2 minutes. Otherwise, so-called scalping occurs and the trading account may be closed.
At this broker, customer service is at a very high level. It is available in Polish by email and online chat on the website.
On weekdays you can receive a response within 1 hour, while on the weekend you can receive a response the next day. It is best to use online chat, as you can receive a response in no time.
Does Plus500 have demo account?
Plus500 demo allows you to use a trial version, which allows the trader to understand over time how CFDs work. This reduces the high investment risk.
Most individual traders experience losses precisely because they decide to start trading right away, without any preparation. The Plus500 demo account is made available for a reason, so it is worth using it to learn how to invest and what rules govern trading. This will make it easier for the trader to avoid mistakes in a real investment account.
With this broker, verification is quick and efficient. All you need to do is to save a double-sided photo of your passport or ID card, as well as proof that proves your place of residence.
Plus500 earns money on spreads, or the difference between the bid and ask prices. The spread can be variable, and the spread changes throughout the day. The Plus500 platform does not charge fees for making deposits and withdrawals.
Plus500 vs. other brokers
Plus500 platform is certainly one of the leading brokers that operate in the financial market. However, if it does not meet the requirements of a particular investor, he can always open an account with another broker, such as:
- Saxo bank broker – this broker has a very good reputation among investors, and its offer of financial instruments is rich, so it is worth trying the Saxo Bank demo (read also: Saxo Bank broker),
- eToro – this is also a leading broker, which provides a proprietary platform, equipped with a number of useful features, such as copy trading, i.e. the ability to copy the movements of the best traders. The eToro demo is certainly an account worthy of attention,
- Admiral Markets – one of the most popular brokers, whose offer is very wide. In this case, security is at a very high level. Moreover, the broker provides the legendary Meta Trader 4 platform, which is the most popular investment tool among brokers. It is equipped with many useful features and is sure to satisfy beginners as well as professionals. Therefore, it is worth checking out how the Admiral Markets demo account works (read also: Forex demo account),
- XTB – this is a Polish broker that has gained popularity around the world. It is regulated by the Financial Supervision Commission, among others, which inspires confidence among Polish investors. There are two platforms available to traders – the proprietary xStation and Meta Trader 4 (read also: Meta Trader 4 and Meta Trader 5). This is a good choice, especially when it comes to investing in stocks. This broker has a few minor downsides, but they do not matter much for medium and long-term investors. In particular, it is worth bearing in mind that this is a Polish brokerage house, which is listed on the Warsaw Stock Exchange.
You may also read: Forex trading platforms)
What to keep in mind when investing in a demo account?
A demo account is designed to mimic a real investment account. So it’s a good idea to treat it the same way and keep in mind a few important points:
- Testing your strategy – Plus500 demo is a great way to try out your investment strategy and see if it works as intended and produces the expected results. If necessary, you can modify it or test another one. The best traders, in addition to their real account, often have an additional demo account open, where they practice and test new investment strategies (read also: Forex trader),
- Risky moves – in the demo account the user can make more aggressive moves that he would not choose to make in the real account. This way he does not lose money, but observes how his investments will behave and how his decisions will affect the trades he makes,
- Diversification – on the Plus500 demo it is also worth applying the kind of rules that should be implemented on the real one. This means that it is worthwhile to apply diversification of the investment portfolio, that is, to invest virtual capital in various financial instruments. This allows you to see how diversification works in practice.
Before a trader decides to trade CFDs, he should consider whether he understands how they work. CFDs are complex instruments and are associated with high investment risk due to leverage (read more: Margin trading and leverage).
Is Plus500 reliable? Plus500 is a suitable broker for those who pay attention to trading costs. The broker offers very competitive spreads, which are associated with low costs. However, additional features, the ability to check the platform’s functions on a demo account are invaluable.