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Plus500 Trading Software
Plus 500 is a CFD trading software which provides the user with simplified tools that make CFD trading easy, effective and productive.
Plus 500, is the brainchild of the Plus 500 group which was found in 2008 and listed on the London Stock Exchange.
This software has striking similarities with other CFD softwares hat utilizes the marketplace protocol system.
Another thing is, this trading platform does not have advanced tools or educational materials.
Let’s take a look at its main features:
- Plus 500 is one of the leading CFD trading platforms in CFD trading.
- It allows profit and loss management, and advanced trading tools like stop loss, stop limit, and guaranteed stop loss.
- Plus500 offers CFDs on crypto, indices, with real-time index quotes, forex pairs, commodities, shares, ETFs, and options
- Plus 500 is registered and regulated by the Cyprus Securities and Exchange Commission and the Financial conduct authority
- It uses basic market protocol system
- Compatible with all operating systems, Mac Os, windows, and Android. They have the web trader as well
- It uses the marketplace protocol system and gives you access to over 2000 trading instruments on the financial market.
- CFD trading services in 50 markets
- Friendly user interface for both beginners and experts.
- You can trade in 32 languages and currencies
- Basic tools such as earning calendars etc.
The platform mainly operates two types of accounts
- Demo account
- Live account
Plus500 Trading Demo account
As the name depicts, this is an account which is not funded by real money, let’s say a dummy account but has all the features of a real account. This is a gold mine for beginners as it allows them to test the waters and understand how the Plus 500 software and CFD trading works before launching out into the deep.
A live account is simply a real account that has been funded by money. When you move from using a demo account and deposit some money to make real trades and earnings, then you have a live account. It allows the trader to trade and make profits.
From my checks, you can fund your account with a minimum of $100, which is not a bad deal as compared to other trading platforms
However, they also added the Gold and pro account which are both possible upgrades of the live account.
Traders have the opportunity to upgrade to a Gold and Pro account, which offers more benefits.
What is a Gold Account?
- The Gold accounts have different units of trade size
- It offers a 5% discount on all overnight funding charges.
- Each instrument has a different unit of trade size.
- Traders can choose the ones that best fit their trading goals.
Plus500 Pro Trading Account offers:
- Higher leverage amounts on some instruments
- Client money protection advantages offered with a Retail Account
- Negative balance protection offered with a Retail Account
- Traders can revert to a Retail Account at any time.
Prices & commissions
As stated before, you need a minimum of about $100 to upgrade from demo to a live account.
There are no commissions, most of their services are free. I guess the next question you might be asking is, how do they get their cut? They get their compensation from Bid/Ask spreads.But they have certain charges which goes with peculiar services or conditions such as;
- They charge an inactivity fee of $10. This amount is charged when the account is left without trading for more than 3 months.
- They either add subtract or add an overnight funding amount.
On the other end, new traders, receive a welcome bonus of $25.
You can fund your account or deposit through the following payment methods:
- Credit card
- Bank transfer
There are no particular educational tools with this platform as stated earlier on. Therefore beginners have to get their materials from other sources to improve their trade. However, they provide basic brokerage services for CFD trading.
They also provide real-time forex quotes, dynamic charts and graphs, live share CFD prices, rolling positions,earning calendars and simple trading indicators.