Plus500 Demo Account: Tutorial & Review

How To Open a Plus500 Demo Account

Let's get started and open up your Plus500 demo account

1. Head over to the Plus500 homepage 

Click on ‘Try Free Demo'

2. Create Your Account

Click ‘Create Account' and choose your preferred sign-up option. To save time, you can create an account using an existing Google, Facebook or Apple account.

 

 

3. You're Done!

With just a few clicks you've successfully set up your Plus500 demo account.

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Plus500 Demo Account Review

Trading markets are unpredictable and trading itself has a steep learning curve. So, to avoid losing any real money, we highly recommend getting used to analysing markets and placing mock trades on the demo. Build up your confidence before you start trading with real money.

The Plus500 demo replicates real market conditions as closely as possible. You can practice trading commodities, indices, currencies and shares across some of the trading world's most popular instruments, from Apple stocks to major currency pairs.

Practice and develop your trading strategies by buying and selling in real-time and get used to the concept of leverage safe in the knowledge that your own money isn't at risk.

The great news is that you don't have to open up an actual trading account with Plus500 in order to use the demo, nor do you have to make a minimum deposit. Plus500 has also introduced a button that allows users to switch between two accounts (demo and real) effortlessly. This means that you can test out your ideas on the demo and easily switch to the live trading platform.

Benefits

No download of software required
There is no need to download the software, and you can easily access the live version (Plus500 Web Trader) from within the demo.

Simulate actual market conditions
Receive notifications regarding events affecting the market in the form of graphs and reports, and make (or lose) money just like in a real market.

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.

Security
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.

User-friendly Platform

Plus500 has its own proprietary trading platform which is both intuitive and easy to use. It is available in three different versions

• Windows Trader
• Web Trader
• Mobile App

All offers real-time graphs and tables with the ability to switch between line charts and bar charts. 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.

Risk Management

As every trader knows, risk management is an important part of making a profit and minimising your losses. The Plus500 demo lets you practice this with a host of features including:

• 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.

Customer Service

Plus500 provides excellent customer service via different channels including phone, email and live chat. Live chat is available 24/7; a real bonus for Plus500 customers, as not all brokerage services provide live chat features. Plus500 does not pass on the personal information of its traders for sales purposes, meaning you won't get hassled by irritating sales calls.

Drawbacks

Research Tools

Research tools such as leverage setting options are missing from the Plus500 demo, as well as

Basic Setup

The Plus500 trading platform, while incredibly useful for beginners, lacks features that experienced traders might expect to find. This makes it somewhat basic compared to other trading platforms.

The Bottom Line

The Plus500 demo account is an excellent full-featured, user-friendly trading platform that newer traders will love due to its simplicity, ease of use and trading tutorials. The quick sign-up process allows you to get started with minimal fuss while the excellent support staff are on-hand 24/7 to assist you with any questions or queries you may have.