Lifetime Free Plus500 Demo Account with Zero Financial Risk
Well-known trading gurus have developed most of their lucrative tactics after practising through demo accounts. The best demo accounts are always equipped with multiple features to replicate real market conditions as closely as possible. The inconsistent volatile market conditions can be best understood through playing around the demo accounts, which enhances and builds confidence among traders. Therefore, demo accounts are the best tool for traders to test their strategies before actually executing them with real money.
The Plus500 demo account is available for free and offers several practical trading functions that a beginner can use to practice in a risk-free environment. Even professional traders can create a Plus500 demo account to test trading platform capabilities and evaluate the highest leverage level offered by the platform before depositing actual money. Plus500 has made it a gateway product to its other offerings but does not pre-impose any conditions. It is not mandatory to open a trading account or to make a minimum deposit to open a Plus500 demo account. Plus500 has also introduced a button that allows users to switch between two accounts (demo and real) effortlessly. It is now easy to execute live trades and test out your ideas on a Plus500 demo account simultaneously.
Setting Up and Getting Started
Creating a Plus500 demo account is a simple process that includes login/downloading software, providing personal details (name and email address) to create a virtual account and adding virtual funds into the account before starting to trade. Features are similar to a trading account, and you can trade in different CFD products, including equities, Forex, commodities, ETF, options, cryptocurrencies and indices. Traders learn about market-winning strategies through continually executing multiple trades and get to know the tools and tactics of successful trading. The unexpected events or turbulent market conditions are programmed in the demo version to see how the traders will react to such situations and come up with positive outcomes.
There are many great features of a Plus500 demo account that investors can utilise, which include:
- No download of software required: There is no need to download the software, and the investor can access the live version called Plus500 Web Trader, which provides all the features of the trading platform.
- Simulate actual market conditions: One of the key features of the Plus500 demo account is that it is similar to a real account and can teach you how to trade. You get notifications regarding events affecting the market in the form of graphs and reports, and you can gain and lose money similarly as in the case of a real market. The Plus500 demo account’s ability to prepare you for trading and thereby reducing your chances of making losses is a big advantage for beginners and professionals.
- Availability of videos/tutorials for guidance: The Plus500 demo account provides plenty of tutorials that will guide investors on how to trade with Plus500. These resources are helpful in shortening the learning curve.
A Plus500 demo account is a great opportunity for investors to access and learn about features of trading without risking their capital. As one of the top CFD trading platforms, it provides various risk management tools to minimise the risk in the case of real trading. Security is one of the significant features of the overall trading platform, which uses an SSL certificate. Thus all trades are secured from fraudulent activities. A two-step verification process makes it extremely difficult for manipulators to misuse the account details of traders.
Top 3 CFD Broker Comparison
User-friendly Platform with Easy Deposits and Withdrawals
The Plus500 demo account interface is very user-friendly, and beginners can understand the trading nuances within a few days. Plus500 has its own proprietary trading platform and is available in three different versions: Windows Trader, Web Trader and mobile apps. It offers real-time graphs, tables and risk management tools. With Web Trader, it is possible to view active/closed positions, Bid and Ask prices as well as the highest and lowest prices for the day. It provides traders with the flexibility to switch between line charts and bar charts. Once a demo account is created, the trading platform loads 50.00 units of virtual money for trading. Apart from various features, Plus500 provides various risk management tools such as:
- Close at profit: Trade can be closed automatically once it reaches the designated profit level.
- Close at loss: Trade can be closed automatically if a trade reaches a defined stop loss level.
- Guaranteed stop: This puts an absolute limit on your potential losses. This tool is useful for volatile markets.
- Price alerts:A price alert warns you that a trade has reached a specified price.
Plus500 provides various methods for transferring and withdrawing funds. If the trader switches from a demo account to a real trading account, funds can be transferred using credit cards, eWallet and other options. Major eWallets accepted are Skrill, PayPal and RAPID. Each withdrawal request is processed after the submission of required details and fulfilment of minimum withdrawal conditions. Plus500 charges no fees for such withdrawals.
Plus500 provides an expert 24/7 customer service via different channels such as email as well as live chat. Live chat and 24/7 availability is a boon for Plus500 customers, as not all brokerage services provide live chat features and customers can often feel like they are left in the lurch if they run into difficulties. But not with Plus500. This is a customer-driven company which has a BrokerNotes AAA support rating due to a wide and exhaustive range of support mechanisms. On the other hand, any objective Plus500 broker comparison would have to note that the lack of 24/7 customer service call support is one of the company’s biggest weaknesses, even if they are readily available during business hours.
The lack of phone support degrades the score of the Plus500 demo account, but the company makes up for it by having an efficient ticket-based email support system. The key point that differentiates the Plus500 platform from other brokers is that it does not pass on the personal information of its traders for sales purposes for their peace of mind and also so that they are not irritated by promotional calls. Customer service is available in different languages, thus reducing any communication gap with its global clientele.
Compatible with smartphones and Apple Watches, the Plus500 app is one of the highest rated CFD trading apps on Android (rated 3+) and the Apple App Store (rated 4+). Thanks to its ergonomic and clear design, the app is completely simple, intuitive and easy to use. The world’s most traded financial instruments are available for trading on the company’s app, which provides real-time market quotes of stocks, indexes and commodities. This means that, even though this is a demo, the experience users get with this software comes extremely close to genuine, real-world trading.
Customers can download the app and create their own free Plus500 demo account to access its features and also reach customer support if they have any queries. From a single location that is extremely easy to access, trainee-investors can avail of all the help, support and features that they may need. In general, the Plus500 reviews for the app have been mostly favourable, with approximately 24,500 reviews submitted according to recent numbers, and most of them extolling the benefits of the app. Few users have reported experiencing crashing or technical issues in accessing their portfolio, and overall the app provides a seamless experience for users, with millions of successful trades executed.
Award-winning Affiliation and Sponsorships
In recognition of the company’s low-cost and top-quality services, Plus500 has been able to scoop up numerous awards and accolades, not to mention extensive recognition and positive reviews. With the goal of becoming the top CFD trading company, Plus500 Group introduced the first Bitcoin CFD in the world in the year 2013. Plus500 Ltd is listed on the Main Market of the London Stock Exchange.
In 2016, Plus500’s subsidiary company – Plus500IL Ltd – was granted a Trading Arena license, and in the same year, an app for Apple Watch was launched with a view to facilitating traders’ access to required information on multiple platforms. In order to expand its reach, Plus500 operates an affiliate program termed “500 Affiliates”, and as of December 2017, more than 115,000 affiliates were registered with the company’s program. In 2018, Plus500 added one more feather in their cap by launching an economic calendar that covers the major happenings around the world and is provided by Dow Jones & Company. Other major associations have been listed as follows:
- Sponsorship with Atletico de Madrid Football club
- Signed a major sponsorship deal with the “Plus500 Brumbies”, the 2017 Super Rugby Australian Conference Champions
- Named the number one CFD provider by New Traders in 2017
- According to the Plus500 Annual Report, the company had 247,000 first-time depositors in 2017
There is no doubt that Plus500 is an utterly trustworthy and reliable trading company with a well-designed and user-friendly platform that has been warmly received by users and reviewers alike. However, it still lacks a few key features that other apps offer as standard, such as research tools, leverage setting options and custom settings that other platforms provide. Another major drawback is that Plus500 services are not currently present in the US, thus restricting the user base of this platform. This trading platform is beneficial for beginners, but experienced traders might find it basic compared to other trading platforms.
Since the Plus500 demo account provides free access for life, beginners may sometimes tend to take high risk, as there is no financial risk involved. Then they try the same strategy in a real account and thus make heavy losses. So it is very important for traders to be cautious with their strategy and not become too aggressive in their approach. Another drawback is that if a demo account is not utilised for some time (for example, for 60-90 days), it is subject to an inactivity fee. Despite these drawbacks, Plus500 stands out from other brokers in terms of simplicity, safety, uniqueness and multi-asset trading facility.
Plus500: Our Ruling
The Plus500 demo account is an excellent, highly intuitive, user-friendly, simple, zero risk and freely available trading platform that is capable of delivering a secure and precise virtual environment to implement trading strategies. It is suitable for experienced traders as well as for beginners, as it offers a free for life Plus500 demo account and superior customer support, including multi-language support.
However, there are a few drawbacks such as the non-availability of phone support and missing research tools. Improvement in the phone app is required, and these can be the deciding factors for more than a few investors. But in spite of this, Plus500 allows trading on multiple markets and has one of the highest user ratings for tutorials. In addition, the company has managed to demonstrate that it is able to cater to almost all traders in the industry. Therefore, it is no surprise that the Plus500 demo account is one of the most popular names in demo trading.