Online forex trading is a great source of income. Most online forex traders offer their clients differentiated accounts depending on their preferences. Traders usually choose based on their perceived experience and capabilities or even the amount of money that they are willing to invest.
The Plus500 Guide for Opening Accounts
This article serves as a guide on the types of accounts that online forex trading companies, particularly Plus500, offers. The Plus500 guide for account holders is straightforward and easy to follow. It allows the client to trade with no hidden fees. Interested traders follow a very easy process if they want to set-up an account with Plus500. They only need to complete the application process, then deposit their funds.
According to the Plus500 guide, it earns through the bid/ask spread. Plus500 offers their clients two account selections. The first one is a demo account, and the second one is a life account. When clients join the demo account, it lets Plus500 guide them through the entire platform and practice trading without time limit. Clients can open a demo account free of charge. When a client opens a demo account, they have an automatic $25.00 that they are free to trade with. The demo account is a no-risk Plus500 guide for novice traders as it simulates real market conditions. When they decide to open a live account, it requires a minimum deposit of $100.00. When an account holder has been inactive for three consecutive months, Plus500 charges a $5.00 inactivity fee.
Other trading companies, such as iforex, do not offer a demo account. Instead it has the VIP account and the Diamond Package, both of which have minimum deposits. However, other online forex brokers such as Xtrade and FXCM offer demo accounts too. While Xtrade’s minimum account deposit is the same as Plus500, it also offers a premium account which requires a deposit of $1,000.00.
If a client wishes to open a live account with Plus500, they get generous bonuses depending on the amount of funds deposited. For the minimum deposit of $100, traders are able to get a $30 bonus. If an account holder wishes to deposit $500, they receive an extra $150.00 to trade with. For an initial deposit of $750.00, account holders will get $200.00. For those depositing $5,000 and above, they will get an extra $1,000.00.
Plus500 Trading Platform
Plus500 has a user-friendly and comprehensive CFD trading platform with technical analysis software. Aside from forex, Plus500 allows the client to trade in multiple markets using the same screen, with real-time quotes. Another advantage of the trading platform is its all-inclusive screen that thoroughly informs the trader everything that’s relevant to the trade, including details of past trades. Charting software is also featured, though multiple graphs cannot be seen on the same screen at the same time. One of the main advantages of the Plus500 trading platform is it is clutter-free. It is simple to use, and it is available in 20 different languages.
There is a downloadable version for the desktop or laptop, a web-based version, and app versions for Windows and Android, and the latest Apple Watch platform.