How to open a Plus500 Demo Account
If you are new to trading and are looking to learn how it works, a demo account could be the right option for you.
Plus500 is a leading broker that offers a free demo account to all its users. It’s also available to new members that sign-up. In this guide we want to show you all the features of this demo account and why it’s such a good idea to use one when trading. Let’s take a look.
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Why is a Plus500 Demo a Good Idea?
A Plus500 demo account is a vital part of any trading journey. Mainly because it allows you to test strategies that will help you to succeed in the market. You can also get to know the various tools and indicators without the pressure of losing real money.
It is only when you switch to a real trading account that you use actual funds.
Whether you are beginner or a more experienced trader, a practice account is all about refining your technique. For beginners, it’s a great way to test the platform and learn the basics.
Whilst for professionals they have the chance to try out more complex trading strategies.
It’s also possible to switch between a real and a demo account. So if you’re ready to start using a real trading account, you can keep the demo account active alongside it.
Many members do this to test strategies in the practice account first, and if successful to try them out in the real version. Think of it as a form of risk management, you get to test before you invest.
Plus500 Demo Features
There are many great features on offer with the Plus500 practice account. For instance, access to the demo account is unlimited! There is no expiry date, so you can use it for as long as you like.
The account comes ready with $40,000 of virtual funds ready for you to spend! If your demo account balance goes below $200, or the equivalent amount, the account balance is automatically topped up again.
Regarding the features, the demo account has more or less all the same features as the real account. You can really get to know how the account works. It comes with graphs and analysis tools like the economic calendar feature. It’s also possible to set up notification alerts regarding market events.
If you need assistance at anytime, there is a LiveChat button you can click on to speak to a customer support member.
How to Sign Up to Plus500
It’s super easy to create a practice account with Plus500. When you are on the broker’s homepage you just need to create an account. You will need to provide an email address and a secure password. Once that is complete you will automatically be inside the demo account version.
You will not be asked during the sign-up for payment details or address. You can add that yourself from your account only when you want to start trading for real. There is no need to make a deposit or provide payment info to use the practice account!
If you should want to switch to real trading, simply click on the ‘Real Money‘ icon shown in the menu bar on the left-hand side of the page.
The Plus500 minimum deposit is only $100.
It’s possible to access the platform online, or you can download the Plus500 mobile App so that you can practice trading from your smartphone. The App is available for iPhone and Android devices.
There is no need to download the platform interface to your desktop unless you want to. It can all be accessed online.
Is Plus500 Legit?
Yes, Plus500 is a fully regulated and trustworthy broker. They are regulated by the FCA in the UK (FRN 509909) and by CySEC (No.250/14). Besides this they hold licences worldwide from ASIC and also the FSCA in South Africa.
You can be assured that they are not a fraudulent broker and you’re protected from scams.
Author of this article and founder of Tradingonlineguide.com
My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.
In my spare time I enjoy cooking and travelling.
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