Author:
Maria Forsman
Last Updated:
29/06/2022
Topic:
Plus500 General
Topic:
Plus500 General
Table of Content
What can you practice trade at Plus500?
Plus500 are one of the oldest and most trusted online CFD trading brands in the world. Publicly traded on the London Stock Exchange, you’ll struggle to find any broker more transparent and secure than Plus500.
There are more than 3,000 CFD instruments that can be traded on a proprietary trading platform on your web browser or on both iOS and Android devices. But what if you’re not ready to invest just yet? The Plus500 demo account is the ideal solution for testing the waters of online trading and we’ve got the perfect in-depth review.
Pros and Cons of Plus500
- Trade in more than 3,000 CFDs
- €20,000 in virtual currency
- Full charting capabilities and real time alerts
- Available via the Plus500 mobile app
- Available as a web trading platform
- No desktop app
Table of Content
Essential Questions About The Plus500 Demo Account
It’s become very common in 2022 to see a demo account at almost every broker available online. However, they are far from the same. The Plus500 demo account is identical to the live trading platform in every single way. But new traders will still have a few important questions they need answering in order to ease them into choosing the Plus500 demo account above all others. Thankfully, we at Strafe.com have you covered.
What is a Plus500 practice account?
The Plus500 practice trading account is an absolutely perfect replica of the live trading platform offered by Plus500. There is no difference in the software and anything you can do on the practice account can be replicated on the live trading platform. You’ll be able to access all the same markets, see the real time prices, and place the same order types. Basically, the Plus500 practice account is the perfect trading tool for training.
A practice account allows you to replicate the same sort of trades you would make when live trading. That extends to viewing charts, conducting various types of analysis, and includes the real time pricing of the live markets. The Plus500 demo account provides you with €20,000 in virtual funds and if you lose those funds, the account will be reset back to €20,000. It’s the perfect amount to practice using leverage, to understand loss, and to see how the markets move in real time as the large number of money will help emphasise the market's volatility.
The Plus500 demo trading account is available for several purposes. Obviously, it is great advertising for Plus500 and will help get completely novice traders to sign up. However, it is also a great tool for learning to trade and a way for traders to implement the lessons found in the Plus500 educational resources. It is also the perfect way for the more experienced traders at Plus500 to practice their trading strategies – investors can attempt to read new technical indicators, attempt trading in assets they are unfamiliar with, and take risks they are not willing to do so with their real funds.
Where do you download the Plus500 practice account software?
Since the Plus500 trading platform isn’t offered as a desktop application, you’ll never actually need to download any additional software other than the web browser you use to access the Plus500 website in the first place. The Plus500 demo account can be accessed via the web trader on both mobile devices and PC/Laptops. However, should you want a dedicated app, you can download the Plus500 mobile app for use on your smartphone or tablet. It’s an easy download too – simply search for Plus500 on either the App Store or Google Play store and download to your device in a single click.
The Plus500 demo account is built into the mobile app and once you are ready to switch to live trading, you can do so from within the app. Should you prefer to stick with the web trader, most browsers are supported including Chrome, Safari, Firefox, Microsoft Edge, and Internet Explorer. The benefit of using the Plus500 demo account on your native browser is there is no extra downloads and for users of older devices, this means less hard drive space is occupied by yet another app.
It is worth knowing that both the mobile app and the web trader offer the same Plus500 demo account and you won’t be losing out by choosing not to download the additional software to your device.
Why use a Plus500 practice account?
The most obvious reason to use the Plus500 demo account is to simply learn how the Plus500 trading platform works. Unlike some brokers that leverage third-party technology to provide multiple trading platforms, Plus500 uses property technology to provide their own platforms for mobile trading and web-based trading on any supported device. For more details about the full trading platform, we suggest you check out our review of Plus500.
Whether you are a highly experienced investor or a new trader who has never placed a trade in your life, you’ll always find strategies that need to be practiced before they are implemented. Perhaps you’ve never traded in forex before, or you’ve been told about an advanced technical analysis tool you’d like to try out? Much like the Vantage FX practice account, this is where the Plus500 demo account is in its element. New traders can also go through the educational resources available at this broker and practice those lessons using the Plus500 practice account.
Most importantly, traders using the Plus500 demo trading account have the chance to educate themselves on risk management. Nothing is more important than risk management when it comes to any trading strategy. Using the Plus500 test account, investors can see what happens when they fail – and with €20,000, they can learn to fail catastrophically. Traders can also learn how to use particular order types to prevent losses and maximise wins too.
What can you trade on the Plus500 free broker account?
First and foremost, users of the Plus500 demo account will have zero limitations on the number of instruments they can practice trading on. That means you can practice with the full range of more than 2,000 CFD instruments including shares, Indices, Forex, Commodities, Cryptocurrencies, ETF’s and even Options. That full range includes 1,900 stocks from multiple global exchanges, a whopping 70 currency pairs including major, minors, and many exotics, 25 commodities, and 95 ETFs.
There are no limitations on the charting capabilities when trading all these instruments either. The Plus500 demo account boasts 119 technical indicators, and the platform includes the Multiple Charts View to access multiple charts at any one time. Each of the tradable assets on the Plus500 demo account features Live Statistics – a great tool that shows data on the price of an asset at any time and you can see the lowest and highest price of the asset within periods of 5 minutes to a day in real time.
Company
| Company | Plus500 Ltd |
|---|---|
| Headquarter | Building 25, Matam Haifa, 31905 Israel |
| Year of Founding | 2008 |
| CEO | David Zruia |
| Website | www.plus500.com |
| Available Languages | German, French, English, Italian, Spanish, Russian, Polish, Dutch, Swedish, Portuguese, Norwegian |
| Customer Support | Live Chat, Email Support |
| service@plus500.com | |
| Phone | - |
| Licence | |
 | |
| Verified by | - |
| Payment Methods |       |
Show More
Our Experience With The Plus500 Demo Account
Is Plus500 legit? We understand that in 2022, people like to look before they leap. Trading can be daunting for the first time, even when practicing with the Plus500 demo trading account. To take the element of surprise out of practice trading for the first time, we went ahead and recorded our initial steps using the Plus500 demo account in 2022.
It only took us a few minutes to open a free account with Plus500. Opening an account just requires a few personal details. We were even offered the option of opening an account with our Google or Facebook. This can be an even easier way to open an account. When you open a free account with Plus500, you won’t be able to use the live account until you have made a sufficient deposit.
To access the Plus500 demo account, we simply needed to select it from the “select account mode” window from within the trading platform. We initially tested this on the web trader but later learned that the Plus500 mobile app can also be switched into demo mode also. As a web trader, this meant we didn’t have to download any software to access the demo account. In fact, there is no desktop app at all. However, to use the mobile app version of the Plus500 demo account, we merely had to search for Plus500 in either the App Store or Google Play Store – depending on which smartphone or tablet you are using.
With such simplicity, there was no setup to speak of. We were able to instantly access the trading platform and make virtual trades as soon as our account was accessible. The Plus500 practice account perfectly replicated the real live trading experience with market updates and the ability to trade with leverage. We were also able to short CFD stocks straightaway.
While we were perfectly free to just open random positions with huge sums of virtual cash, we instead chose to test the trading platforms features. The Plus500 demo account does not suffer from any limitations in the feature department. We were able to access Technical Analysis tools, Fundamental Analysis tools, and even Sentimental Analysis options.
We used the search function to test opening and closing a trade. Located at the top of the screen, it was very easy to find a stock that took our interest. The order window is very intuitive, and we were able to place a simple take profit order on a stock we believed would rise at least 1% over the course of the day. Just like the live account, we received a notification that our stock had risen and that our take profit order position had been instantly closed.
Beyond Demo Accounts: Useful Information About Plus500
Once you have gained some experience in the Plus500 demo account and you feel confident enough to begin live trading, you’ll need to switch to the real live trading account. This can be completed with a single click and requires deposited funds in your trading account. It is important to note that there will be some costs when you start trading for real at Plus500.
Plus500 is a very reliable and transparent broker with no hidden fees and a very transparent fee structure. There are no commissions for trading CFDs at Plus500 and the spreads are very low. We found the minimum spreads to be around 0.01 – 0.02 pips and spreads are always available in real time – just like the Plus500 demo account. You will find some additional fees at this broker such as an inactivity fee of $10 per month if you fail to log into your account for three straight months and there is a charge for using the Guaranteed Stop Order.
Like most demo trading accounts, there is only 1 difference between the live account and the demo account – the lack of real money trading. Every other part of the trading platform is perfectly replicated and that includes the real time pricing. This means successful trades in the demo account would have also been successful in reality. With no limits when compared to the live trading account, the only real limitation that we can determine is that virtual trading can generate false confidence. Remember to keep your emotions in check when trading with your own funds.
Get Started With Plus500
Is Plus500 good? New traders can begin using the Plus500 demo account in literal minutes. Signing up only takes a few minutes and the end result will be instant access to the Plus500 demo account. All you’ll need is to provide some very basic personal details or just sign up using either your Facebook or Google account. As soon as you feel confident enough to begin live trading, you can easily switch to the live account.
Head to Plus500 today to practice trading more than 3,000 shares, forex, ETFs, Indices, and Commodities using technical indicators and other handy analysis tools in real-time with the Plus500 demo account.
Conclusion – Plus500 Trading Review
Our Plus500 trading review of the demo account revealed a full training platform that perfectly mimics the same offerings as the live trading account. With more than 3,000 tradable assets that can be practiced with applied leverage, traders of any experience level can trade anything on offer at Plus500.
Available as a web trader and on mobile means that traders have multiple options on how they wish to use the Plus500 demo account in 2022. With a simple sign up that only takes a few minutes and is completely free, traders can experience the full Plus500 trading platform without having to risk any of their capital.
Plus500 Demo Account FAQs
5.
6.
8.
10.
12.
13.
