Plus500 is an online trading platform that offers thousands of CFD instruments. In addition to cryptocurrencies such as Bitcoin, Ethereum and NEO, you can also trade stocks, indices, commodities, bonds and much more.
Access to Plus500 is provided through the main website for desktop computers or through a dedicated mobile application. The application is available on iOS and Android, and in it you can use all the functions of the main browser version of the platform.
All cryptocurrencies available on Plus500 can be traded against the US dollar. The platform also offers a “Crypto Index” that allows you to invest in the ten largest coins by market capitalization. The index is weighted, so you get access to a large cryptocurrency arena.
You should have no illusions – making money trading cryptocurrency on a regular basis is a feat that very few have managed to achieve. Therefore, if you have little experience in cryptocurrency markets, you should choose a trading application with a demo account. This is exactly what Plus500 offers to all its customers.
You just need to download the app and open an account, after which you will get access to cryptocurrency trading with virtual “funks”. It is important to note that the Plus500 demo account fully reflects real trading conditions.
- Trade cryptocurrency without risking your own money.
- Familiarize yourself with such things as market and limit orders, sliding and simple stop-losses and take-profits.
- Learn to use leverage.
- Get an idea of how cryptocurrency trends work.
- Find out which trading strategy works best for you.
- Learn all the subtleties of risk management.
The learning curves shown above will ensure that you can trade cryptocurrency in the real markets as efficiently as possible.
Trade for real money
After you practice trading cryptocurrency with the Plus500 demo account, you can consider switching to real money.
- Here’s what you need to know about this provider’s trading app:
- No matter which cryptocurrency you plan to trade, Plus500 does not charge any trading fees.
- All cryptocurrency products are presented here in the form of CFDs.
- You are given the option to open long or short contracts on all cryptocurrencies.
- Spreads can vary throughout the trading day, but are generally quite competitive.
- Plus500 offers leverage. Again, UK and European residents have a leverage limit of 1:2 (excluding professional customers). In other regions, you can get leverage up to 1:300.
- To start working with a real trading account, the Plus500 platform requires a minimum deposit of $100. It can be deposited through the mobile application using debit / credit cards, bank transfers or Paypal.
Security and regulation
If you use the Plus500 program for trading, you do not have to worry about security. First, the platform is regulated by several top-level licensing authorities. These include the FCA, ASIC, MAS and CySEC.
This means that all client funds are kept in separate bank accounts, while the provider complies with all anti-money laundering laws. Plus500’s parent company is also listed on the London Stock Exchange with a current market capitalization of £1.25 billion.
It is also worth noting that you do not need to worry about the possibility of the platform being hacked because you will be trading CFDs. If everything is simplified, this means that there is no trading cryptocurrency. A CFD is simply a tool that tracks its real price.