Table of Content
Table of Content
How to Use Plus500 Trading Platform: A Guide to the Trading Platform
We will delve into the world of the Plus500 trading platform, equipping you with the knowledge and skills to navigate this powerful tool like a seasoned professional. Whether you’re a novice trader looking to kick-start your journey or an experienced investor seeking a user-friendly trading platform, we’ve got you covered.
Types of Plus500 Accounts You Can Create
It doesn’t matter if you’re a beginner or a professional; a demo account should be your first stop when you’re new to a trading platform such as Plus500. Plus500 offers a demo account that lets you access all the trading tools and instruments in its live trading accounts.
The Plus500 demo account lets you learn how to use the platform effectively. As a demo trader, you get access to up to $100,000 virtual money and unlimited time to get acquainted with trading on the platform.
The retail account is a step above the Plus500 demo account. Consider it as the first live account for every Plus500 trader. You can trade as many instruments as available in stocks, currency pairs, ETFs, and popular cryptocurrencies.
Available to all Plus500 users worldwide, you can go live with the retail account and leverage up to 300% of your trading capital. There are regulations on how much you can leverage depending on your regional location. For instance, EU countries can leverage a ratio of 1:30 while the Global Market can go on with up to 1:300. AUS, however, can go up to 1:50.
Alternatively known as the Gold Account, it is an account that lives up to its hype. With this account, you get all the features available in the retail account and more. The professional account is a live account for professional traders with ample experience and portfolios in the financial sector. As you might have guessed, it’s pretty advanced. As a beginner, you may opt for the retail account when you go live.
There are many different instruments to choose from – over 2000. You will have the option to trade:
Plus500 developed a proprietary trading platform that is available as:
- WebTrader (online) no download is required
- Mobile App (iOS and Android)
- Desktop (Windows)
Their Webtrader is great, as it doesn’t require downloading anything. It is a great trading software that works out of the box. The mobile trading apps work great and must be downloaded from Google Play or the App Store.
Plus500 offers a few deposit methods, including PayPal. Also, sometimes new traders are welcomed with a welcome bonus (terms apply).
One of the most popular ways is by using price action. It is an important element to spot ideal entry and exit points.
To succeed, you must use the candle charts at Plus500. These charts will give you more information than simple line charts. By analyzing the trends, you will be able to make decisions immediately. Their platform gives you access to historical data to see how the markets performed in the past and might in the future.
The Plus500 Dashboard
Once your account is verified, you’ll gain access to the intuitive Plus500 dashboard. This user-friendly interface offers a range of features designed to enhance your trading experience.
- Market Overview: Get a snapshot of the current market trends, including price movements, top gainers, and losers.
- Instrument Selection: Choose from various trading instruments, including stocks, commodities, cryptocurrencies, etc.
- Real-time Charts: Analyze price charts with real-time data to make informed trading decisions.
- Risk Management Tools: Set stop-loss and take-profit orders to manage risk and protect your investments.
Some general Plus500 tips
- Deposit a small amount to get used to trading with real money.
- Practice and track what works and doesn’t; learn from your mistakes.
- Always use a stop loss so you can only lose up to X % of your account.
- Don’t put too much money into one trade; only risk a modest percentage.
Funding Your Account
You have three main options for how to fund your account, which have advantages and drawbacks.
1: Credit or Debit Card 💳️
This method sees you transferring money to your account. This is appealing because it is fast and convenient. Using a credit or debit card will make transferring your funds from your account hard. And perhaps more importantly, it will also incur service charges on adding funds to your account.
2: Using PayPal
PayPal is a third-party online banking software that allows you to transfer funds much more easily, both to and from Plus500. It is easy to use but has two problems: First, it takes a fee of its own when you transfer your funds out of your PayPal account.
But the other problem is that to transfer funds out of your PayPal account, you have to link it to your bank account anyways. This is why we recommend the last option for funding your account.
3: Using Your Bank Account 💵️
Linking your bank account to your Plus500 sounds more complicated than it is. The first step in doing it is giving Plus500 your bank state branch number and account number. This will allow them to find your account. But then, you must verify your account. Here is where some people need clarification.
Plus500 will send you two deposits worth less than a dollar each and subtract everything they sent you. You must verify your account on the app or website by filling in the value of the two deposits.
This is the best method for funding your account since it comes with no service fees and allows you to easily transfer money out of your account. You have to get through that initial verification process.
Strategies for Successful Trading
Achieving success in online trading requires knowledge, strategy, and discipline. Here are some strategies to consider:
- Technical Analysis: Study price charts, trends, and patterns to identify potential entry and exit points.
- Fundamental Analysis: Research and analyze the fundamental factors that could impact the market, such as earnings reports or economic data.
- Risk Management: Use tools to protect your capital and avoid significant losses.
- Demo Trading: Practice your trading strategies in a risk-free demo account before trading with real money.
Plus500 Final Thoughts
Plus500 is a great platform for intermediate to advanced traders looking for a robust CFD platform. They offer loads of financial products and markets you can trade. Pair that with a great platform and deposit/withdrawal options and a great CFD broker. It is also well-regulated by top-tier authorities around the globe.
In conclusion, using the Plus500 trading platform offers a convenient and accessible way to engage in online trading. By following the steps outlined in this guide and implementing effective trading strategies, you can confidently navigate the financial markets.
Remember that success in trading takes time, practice, and continuous learning. So, embark on your trading journey with Ekzaga, explore the diverse range of trading instruments, and take advantage of the powerful tools offered by Plus500. Start your trading adventure today and make informed investment decisions that can lead to profitable outcomes.
Can I practice trading without real money?
Absolutely! Plus500 offers a demo account feature that allows you to practice trading with virtual funds. It’s an excellent way to hone your skills before investing real money.
Is Plus500 safe and regulated?
Yes, Plus500 is a reputable and regulated platform. It is authorized and regulated by several top-tier financial authorities, ensuring a secure trading environment.
Are there any fees for trading on Plus500?
While Plus500 doesn’t charge trading commissions, there are spreads associated with trading. Review the platform’s fee structure on Ekzaga for detailed information.
Can I trade cryptocurrencies on Plus500?
Certainly! Plus500 offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, and more. Ekzaga’s guides provide insights into trading these digital assets.
What educational resources does Ekzaga provide?
Ekzaga offers a wealth of educational resources, including articles, video tutorials, and expert analysis, all aimed at helping you make informed trading decisions.
How do I contact customer support on Plus500?
Plus500’s customer support is accessible through email and live chat. For detailed assistance, refer to Ekzaga’s guide on how to reach out to the support team.