You could make money trading Forex, commodities and other instruments with Plus500.
Plus500 is one of Australia’s leading providers of Contracts for Difference (CFDs).
Plus500 offers forex trading between the following currency pairs:
What trading levels are available with Plus500?
Plus500 offers two account options: a demo account and a live account. The demo account is designed to help aspiring traders get a feel for trading on Plus500, without risking any actual money.
On Plus500’s website, you can sign up for a free demo account. This doesn’t use real money. Instead, it’s similar to a stock market simulation. You start by downloading the free software, which starts you with virtual “money.” The demo account functions just like the real markets, but without any of your actual money at stake. You can set up and simulate trading strategies before you decide to invest any of your actual capital. If the balance falls below the equivalent of 200 Euros, the system will reinstate the initial demo, restoring funds.
From the login screen, you can click “Switch to Demo Mode” or “Switch to Real Money,” letting you move between both real and virtual trading.
Real Money Account
When you open a real money account with Plus500, you’ll receive a complimentary $20 welcome bonus. You’ll have access to Plus500’s full proprietary trading platform, which allows you to trade commodities, Forex, stocks, indices, ETFs, and CFDs from a single platform. The main screen has clearly labeled tabs for past trades and current positions, along with charting software that generates graphs. The Plus500 website features a web-based version, allowing you to access your account from anywhere. The Plus500 mobile app is currently available for Android, iPhones and the Apple Watch.
What trading platforms are available?
Plus500 uses proprietary trading software, available on several platforms. To access your account, you can log into your account on your PC, on a website, or via mobile app.
- Downloadable version. After creating your account, you can download Plus500’s software to your PC.
- Online. If you’re not at your home computer, you can access your account online by logging into Plus500’s website.
- iPhone or Android app. To check your accounts on the go, you can download an app for your Android or Apple mobile phone.
- Apple Watch. If you own an Apple Watch, you can install a Plus500 app to conveniently check out your investments.
|Spread fee - AUD/USD||N/A (charges spread only)|
|Education and resources||Website offers a detailed “support” section with information, FAQs, and|
|Does it offer fixed spreads?||Yes|
|Is MetaTrader supported?||No|
|Minimum deposit required||$100|
|Compatible devices||PC, Mac, iPhone, Apple Watch, Android|
|Guaranteed stops||Stop Loss Order instructs Plus500 software to close the position when an instrument reaches a certain price, preventing further losses. The user decides on the amount for the guaranteed stop.|
|Payment methods||Visa/Mastercard; Skrill; bank transfer; PayPal|
|Demo account available?||Yes|
What are the benefits of using Plus500?
Some of the benefits of using Plus500 as a trading platform include:
- Convenience. Plus500 allows you to trade indices, Forex, commodities, ETFs, options, and CFDs from a single platform.
- Ease of use. The software is designed to be easy and intuitive, even for beginners.
- Low minimum deposit. You can start trading on Plus500 with as little as USD$100 meaning you can experiment without risking a significant amount of capital.
- Free demo available. For users who are just starting out, the free virtual demo can act as a training program to help you learn the ropes without risking real money.
- $20 sign-on bonus. You’ll receive an extra USD$20 (AUD$26.21) just for creating a Real Money account.
- Extensive customer support. Plus500 offers comprehensive 24/7 customer support via email and fax. They also have an online live chat for help, available in multiple languages.
What are the pros and cons of using Plus500?
- All-in-one trading platform
- Low minimum deposit, making Plus500 accessible to beginners and those with a limited amount of money to invest
- Informative demo program
- Well suited for investors outside the United States
- No telephone support
- High risk; it’s possible to lose more than your initial investment if you involve yourself in Forex trading
- Inactivity fee of USD$10 if the platform is not used for 3 consecutive months($13.11 AUD)
How do I sign up?
To sign up for Plus500, visit its website and click the blue button labeled “Start Trading Now.” You will have the option to create either a paid Real Money account, or a free Demo account that uses virtual money. For Real Money accounts, the minimum deposit is $100. You can fund your account with a credit or debit card, Skrill, Paypal or wire transfer.
You can download the Plus500 software from the website, or access your new account online. You can also visit the Apple Store or Google Play Store to download the mobile app.
If you wish to withdraw money from your account, you will need to verify your address, and you must supply a valid photo ID. The company may also request additional documentation at their discretion to verify your ownership of the account.