Plus500 Demo Trading Accounts
All newbie investors at the broker Plus500 begin with a free demo account, so that they can familiarize themselves with their unique CFD trading platform. This is a very important step at the beginning of your investing journey. You need to properly understand the way that their software works, so that you will not be stuck when you are ready to invest or make a trade.
It is a good thing that Plus500 gives all their new customers a free demo account. You will be able to see order types, margin requirements, stop loss and take profit settings.
Demo Accounts vs. Real Accounts.
A Demo Trading Account is the perfect way to test out your newest trading strategy. If you are building an algorithm, you would have to be crazy to not first test it on a demo account.
There are a few differences in a demo account, as opposed to a real account.
- The money in your account is paper money, therefore, if you lose $10,000, you can start again.
- Psychologically investors are not as cautious when using a demo account. This causes them to place riskier trades, and sometimes gain huge profits, which are fake.
- All trades will execute on a demo account, but in a real account there are sometimes liquidity issues which will prevent an execution.
How to Open a Plus500 Demo Account?
In order to open a demo trading account at Plus500, you will need only need a valid email address, and your chosen password.
Go to: https://plus500.com/
*76.4% of retail CFD accounts lose money
Once there, enter your Full Name and Email Address. After you click on Create Account, they will take you to the next screen which asks for your mailing address, along with a couple of questions to ensure your are qualified to invest.
This broker is unique in their trading platform. They have a web based platform, along with mobile apps, and a Windows app.
Plus500 Summary Review
Plus500 is a popular Forex CFD broker with offices worldwide, offering CFD investors and day traders alike, the ability to invest in a regulated trading environment.
They have a wide range of products to trade CFD’s. You will find Forex Currency Pairs, Crypto Currencies (Bitcoin, Ethereum, Ripple), Commodities (Oil, Natural Gas), Metals (Gold, Silver, Platinum etc.) and Market Indexes (S&P 500, Nikkei, Nasdaq).
Disclaimer: 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.