Plus500 Tutorial: A Step by Step Guide to Get Started

Plus500 Tutorial

Plus500 is an all-in-one solution for CFD trading, stock, ETF, and cryptocurrency. By joining, you have access to over 2500 trading instruments, including user-friendly brokerage services. Plus500 lets you manage multiple accounts.

You can get trade commission-free with a high trading volume, get a compensation fund, as well as excellent customer support. Do you wish to create a Plus500 trading account and start actual trading? Keep reading to know how Plus500 trading works, its leverages and fees, and how to use it to trade.

Types of Plus500 Accounts You can Create

1. Demo Account

It doesn’t matter if you’re a beginner or a professional; a demo account should be your first stop when you’re new to a trading platform such as Plus500. Plus500 offers a demo account that lets you access all the trading tools and instruments you’d find in its live trading accounts.

The Plus500 demo account allows you to learn how to use the platform effectively. As a demo trader, you get access to up to $100,000 virtual money and unlimited time to get yourself acquainted with trading on the platform.

2. Retail Account

The retail account is a step above the Plus500 demo account. Consider it as the first live account for every Plus500 trader. You can choose to trade as many instruments as available in stocks, currency pairs, ETFs, and popular cryptocurrencies.

Available to all Plus500 users worldwide, you can go live with the retail account and leverage up to 300% of your trading capital. There are regulations as to how much you can leverage depending on your regional location. For instance, EU countries can leverage a ratio of 1:30 while the Global Market can go on with up to 1:300. AUS, however, can go up to 1:50.

3. Professional Account

Alternatively known as the Gold Account, it is an account that lives up to its hype. With this account, you get all the features available in the retail account and more. The professional account is a live account for professional traders with ample experience and portfolios in the financial sector. As you might have guessed, it’s pretty advanced. So, as a beginner, you may want to opt for the retail account when you decide to go live.

How to Create Your Plus500 Account and Start Trading

Plus500 broadly offers two kinds of account openings: the demo account and the live account (which comprises the retail and professional accounts, respectively). You can get started with the demo account and switch later to the live account. Both kinds of accounts are easy to create and access.

How to Open a Demo Account

Visit Plus500, and toggle to the “Try Free Demo.” Next, sign up using a valid email and password and click on “Create a demo account like the one in the picture below.” Alternatively, you can also use a one-click Facebook, Google, or Apple account to sign up. 

Image source: Plus500

And that is it! You’ve created your demo account instantly. You will be directed to the Plus500 web trader environment like the one in the picture below, where you can get yourself acquainted with Plus500.

Image source: Plus500

How to Create a Live Account

Before opening a live account on Plus500, bear in mind that you should have your KYC verification documents ready. A KYC includes your Proof of Identity (POI) and Proof of Address (POA) which clearly have your information in detail. They include your passport, driver’s license, or any other government-issued document that has your DOB, permanent address, and so on.

When you’re ready, visit Plus500.com and toggle to “Start trading” or the “Act Now” button, as shown in the picture.

Image source: Plus500

The site will redirect you to a signup page, like the one seen when you were creating a demo account. Enter a valid email and password and hit “Register.” Since you already have a demo account with Plus500, you should just register with the email and password you used in creating your account.

Then check your mailbox for a confirmation email from Plus500. Click on it to complete this step. Note that you can still switch between the demo and the live (real money) account any time by clicking the button shown in the bottom left of the picture below. Yea, the webtrader looks exactly like the one seen in the demo account. 

Image source: Plus500

How to Verify Your Account Through KYC

One way or the other, you might have across the term KYC while surfing the internet. KYC means “know your customer.” It means providing sufficient information for a platform to ascertain your genuineness. 

When you’re done creating your Plus500 account, you can proceed to verify the account. From the webtrader view, navigate to the left-hand bar of the platform. Click on the three lines to view the dropdown menu. Locate “Account” and select “Verify account” to complete your verification process.

Image source: Plus500

You’d need to enter your name, date of birth, address, and upload your PoI (Proof of Identity) and PoA (Proof of Address), and answer a few questions to verify your account successfully.

When you’re done, you can proceed to deposit funds and begin trading. 

What’s Next After Creating My Account?

After creating your plus500 online trading live account, the next step to follow is to start trading as many instruments as possible. You can choose to trade crypto, stocks, ETFs, and CFDs. In fact, Plus500 is the largest CFD broker in Europe.

Ensure to seek financial advice where necessary because trading comes at a very high risk of losing your entire capital. Plus500 offers you a bonus during your first deposit to your account. You will not be charged for deposit or withdrawal fees during your course of trading. Plus500 trading fees, however, come through spreads when you trade.

To fund your account, still visit the left-hand bar and locate the dollar “fund” icon. Click on it to deposit a minimum deposit of $100 for a retail account using a bank transfer or credit card.

Image source: Plus500

If successful, you can proceed to set up your webtrader account and start trading your preferred instruments and assets.

You can set up your professional account using the same medium as the retail account, depending on the kind of answers you enter during the questionnaire. Endeavor to contact customer support if you encounter difficulties during verification.

There is a “live chat” icon at the bottom-left corner of the screen, which you can use to open a support ticket and enter your query. You will be guided on the steps to take to resolve the issue.

Image source: Plus500

Frequently Asked Questions (FAQs)

Why Can’t I Sign Up on Plus500?

Plus500 is not available in all countries. However, it’s available in the USA, Canada, Japan, France, several African countries, etc. When you try registering, you’ll be told if your country is not listed among the available countries. You can contact customer support to find out if your country is available.

Is Plus500 Safe?

Plus500 is safe and regulated by international securities bodies such as FSCA and FMA, CySEC, FCA, ASIC, and more.

What Is Plus500 Minimum Deposit?

The minimum deposit is dependent on the deposit method. If you’re using debit cards, the minimum deposit on Plus500 is $100 or the equivalent in other currencies. If you’re using bank transfer, the minimum deposit is $500 or the equivalent in other currencies.

How Does Plus500 Work

Pluss500 works like every other trading platform. However, it has its peculiarities. To learn more about Plus500, check out our comprehensive review of the platform.

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post
eToro Trading Guide for Beginners

How to Trade on eToro: Step by Step Guide For Getting Started

Next Post
Bitrue Review

Bitrue Review – Is It Safe to Use?

Related Posts