How to Trade on Plus500? Step by Step Guide

How to Trade on Plus500? Step by Step Guide

Plus500 is a UK based company that offers CFDs on over 190 different markets. The platform has been around since 2007 and is one of the most trusted brokers in the world.

Plus500 is a UK-based company that offers trading in the forex, commodities, and stock markets. This article will provide step by step instructions on how to trade on Plus500. Read more in detail here: plus 500 trading strategy.

Plus500 is a great option for any crypto day trader since it offers Bitcoin and altcoin CFD trading with narrow spreads. Their method is straightforward and easy to understand. However, we’ll go through the different account features, trading activities, and advantages quickly.

  • BTC, ETH, XRP, LTC, BCH, and IOTA are among the cryptos that are now available.

  • Credit/Debit Card, PayPal, Skrill, and Bank Transfer are all acceptable methods of payment.

  • Currencies accepted: AUD, GBP, EUR

  • Support: Live Chat and Email are available 24 hours a day, 7 days a week.

  • Brokerage Fees: No Commission Brokerage

When trading CFDs with this supplier, 80.6 percent of retail investor accounts lose money. You should think about whether you can afford to take such a significant risk with your money. The FCA (#509909) has approved and regulated Plus500UK Ltd. The underlying assets are not yours, nor do you have any rights to them. Please see the Disclosure papers on the Plus500 website for further information.

Who are Plus500 and what do they do?

Plus500 is a UK-registered business with headquarters in London that was established in 2008. The Financial Conduct Authority (FCA) has fully approved the business to provide contracts for difference (CFD) trading. Plus500’s sponsorship agreement with Athletico Madrid may be familiar to people who follow Spanish or continental football.

Plus500 is registered on the London Stock Exchange as one of the world’s biggest CFD brokers. This is seen as a plus by TotalCrypto, since the business is held to a higher standard than non-stock market listed brokers. Plus500 offers one of the top-rated CFD trading Apps in the Apple App and Google Play stores for people who want to trade cryptocurrencies on the go. Plus500 is home to millions of satisfied traders all around the globe, making it one of our top cryptocurrency trading platforms.

Terminology on TotalCrypto.io

CFD is an abbreviation for ‘Contract For Difference.’ This implies you won’t be able to purchase various cryptocurrencies directly on Plus500. Instead, you’ll be purchasing and selling cryptocurrency-backed contracts. This allows traders to participate in the ups and downs of the cryptocurrency market while avoiding the hassle of setting up extra bitcoin wallets. As a result, CFD brokers like Plus500 are one of the most straightforward methods to trade the cryptocurrency markets.

Plus500’s Advantages

  • Plus500 is completely regulated and enables you to get compliance exposure to the most popular cryptocurrencies.
  • Customer service is great, and most questions are answered within 24 hours.
  • Because Plus500 is a CFD broker, you may make a single deposit and use the same account for all of your bitcoin transactions. It also eliminates the need for you to set up several cryptocurrency wallets to keep your money. Plus500 is the ideal choice for anybody looking for straightforward cryptocurrency exposure.

How to Trade on Plus500? Step by Step Guide

Plus500 Important Facts

  • Plus500 Ltd is a large company that trades on the London Stock Exchange’s Main Market.
  • Plus500 is a ten-year-old company with a proven track record.
  • Insurance – The Financial Services Compensation Scheme insures Plus500 balances. This implies that client balances are covered for up to £50,000 in the event of a disaster.
  • Deposit Methods – The deposit methods that are supported, as well as the minimum deposit amounts for each:
    • Visa or Mastercard debit/credit card (minimum – 100 GBP)
    • PayPal/Skrill electronic wallet (minimum – 100 GBP)
  • Ripple, Ethereum, Bitcoin, Bitcoin Cash, IOTA, and Litecoin are all cryptocurrency that may be traded.
  • Customer service methods include live chat and email through an online form available 24 hours a day, 7 days a week.

Do you want to learn how to trade cryptocurrencies in a simple way? Now is the time to join Plus500!

When trading CFDs with this supplier, 80.6 percent of retail investor accounts lose money. You should think about whether you can afford to take such a significant risk with your money.

The FCA (#509909) has approved and regulated Plus500UK Ltd. The underlying assets are not yours, nor do you have any rights to them. Please see the Disclosure papers on the Plus500 website for further information.

First Look – Getting a Glimpse of the Dashboard

Before we show you how to make a trade, let’s go through the various choices available on Plus500’s platform. The dashboard you’ll see is shown below.

How to Trade on Plus500? Step by Step Guide

Prices are for illustration purposes only.

By selecting ‘Menu,’ you will be presented with financing choices, account information, and support resources.

Here’s what you’ll find on the menu:

How to Trade on Plus500? Step by Step Guide

Prices are for illustration purposes only.

One option you’ll come across is ‘Account Snapshot,’ which takes you to a website with a comprehensive analysis of your investment allocation. Take a peek at the screenshot page below to see what it looks like.

How to Trade on Plus500? Step by Step Guide

Prices are for illustration purposes only.

“Open Positions,” “Orders,” and “Closed Positions” make up the remainder of the dashboard. We’ll go through these topics with you soon. First and foremost, it’s critical to review which cryptos you may trade and how to locate them.

Plus500 is a cryptocurrency trading platform.

Plus500 now supports nine different cryptocurrencies for trading. Select “Crypto Currencies” (under ‘Crypto’) from the main ‘Trade’ dashboard area to view the various currency CFDs that are traded here.

The following cryptocurrencies are now available for trading on Plus500’s platform:

For the coin you choose, a chart will appear. A 1-minute chart is the default, but you may modify it to 5, 15, or 30 minutes, 1, 2, or 4 hours, 1 day, or 1 week. If you know how to interpret tick charts, you can also look at them.

Choose a coin that you’d want to exchange. Press the info icon (the I in the blue circle on the far right side) for additional information. Trader sentiment, low and high prices by period, minimum order size, and allowed leverage will all be provided to you. Fee information, such as the set spread, overnight rate for both buys and sells, margin requirements, and more, are also available.

To begin a transaction, choose the cryptocurrency you wish to buy or sell and click the “Sell” or “Buy” buttons. On the right side, an order tool will display.

How to Trade on Plus500? Step by Step Guide

Prices are for illustration purposes only.

As you can see, the trade part includes a condensed version of the information portion. The other characteristics that you can see are also extremely essential. Before you start trading crypto on Plus500’s platform, familiarize yourself with them.

Number of Contracts

Simply stated, the number of contracts you want to purchase or sell equals the number of coins you want to buy or sell. The XRP (Ripple) trading sample you see is for 250,000 contracts with 15x leverage. The calculations are given; in this instance, at least $10,398.33 in margin is needed to initiate a $155,975 value position.

In your trading account, you may adjust the leverage level. A Plus500 demo account, on the other hand, does not have this feature.

Value

The total value of all of your contracts. This figure is shown in both American ($) and European (£) currency. The price will fluctuate based on the quantity of contracts. Every contract is worth 0.1 BTC, which implies that every ten contracts is worth one bitcoin. Note that you must purchase or sell at least 0.1 contracts at a time, implying that the minimum amount you may exchange each completed transaction is 0.1 BTC.

Keep in mind that depending on whatever pair you trade, the minimum and maximum order sizes as well as the contract value will differ.

Minimum Margin 

Some beginners will be perplexed by this section. For you to comprehend this image, you must have a fundamental knowledge of what margin is and how it works. Plus500 allows you to trade cryptocurrency with a dynamic initial margin requirement based on the value of your transaction. A variable maintenance margin is also available on this platform. If your balance falls below the maintenance threshold, your position will be compelled to liquidate.

Profitable closure

When you achieve a specific profit level, you may use this feature to close your transaction. You may choose the price point at which the transaction will close to see the profit (in dollars and percent) computed below.

At a loss, close

When your potential losses reach a particular amount, you may use this feature to close your transaction. You may choose the price point at which the transaction will close to see the profit (in dollars and percent) computed below.

Stopping is certain.

In the event that your stop is hit, this function provides you more control. Your trade will execute when the price (with slippage taken into account) hits your target level, thanks to the assured stop. Because a normal stop may execute at a lower price than anticipated if order books are small, utilizing the guaranteed option will minimize your potential losses if you liquidate.

Pips as a trailing stop

(Under the heading ‘Advanced’)

This feature allows you to have the most control over when your stop order is executed. Both the short and long sides may benefit from the trailing stop feature. When shorting a coin, employ trailing stops to protect your profits as the price falls and to limit your losses when the price rises. Use trailing stops when trading to preserve gains when the price rises and minimize losses when the price falls.

What precisely does it entail?

Assume your position opens at a value of 1.5, and each pip is equal to 0.1 in this case. The trailing stop order may be set for 5 pips, meaning the position would be forced to close if the value hits 1.0. If the market rises in your favor, the stop price will rise as well. For example, if the market peaked at 2.5 and then fell, a 5 pip decline to 2.0 would close the transaction. This is just a representation, and the statistics utilized are fictitious.

Only buy/sell when the rate is favorable. 

Next to the trailing stops: pips feature, you’ll see this choice. It is not necessary to apply this function in conjunction with a trailing stop for it to operate. If the market hits a certain price, you may specify a price at which your position will open. As a result, if the market rises to X price, your short position will be activated automatically. Meanwhile, your long position will be opened if the market falls to X price.

This feature enables you to trade swings based on technical analysis and removes emotion from your trading choices.

Plus500 Trading Fees: What You Need to Know

Isolating the information that pertains to cryptocurrencies is the best approach to look at trading costs (and to look at the rate for each coin). Simply stated, the fees charged by Plus500 and the trading limitations that apply differ depending on the asset.

The costs for opening a long or short position on Bitcoin via Plus500’s WebTrader platform are shown below at the time of writing.

How to Trade on Plus500? Step by Step Guide

Prices are for illustration purposes only.

Let’s go through each of these expenditures in more depth now.

Funding in a Day

You’re using Plus500 to leverage your trade with borrowed money. Your margin (collateral) is a small percentage of your entire transaction value and isn’t utilized in any of your trades. Users are obliged to participate to financing each other due to market lending charges and platform loss risks.

This is accomplished by forcing either longers or shorters to pay an overnight charge if their margin is carried over to the following day. A person buying/longing in the scenario above will pay out 0.049 percent of their entire investment if they keep it overnight. Meanwhile, someone who sells/shorts and keeps their money overnight will get 0..038 percent of their money back as an account credit.

Margin of departure 

The initial margin is the amount you must put up to start your transaction in the first place, as previously stated. To be financed and open your trade with a maximum leverage of 1:30, you’ll need a 5% starting margin.

Margin for maintenance

The maintenance margin is the minimal amount of collateral that must remain in the transaction to avoid it being forced to liquidate.

Conclusion

Plus500 isn’t the most aesthetically pleasing or attractive crypto CFD trading platform available. The learning curve, on the other hand, is low, and you can immediately jump in and begin leveraging trading different cryptocurrency pairings. Their rates are also better than those offered by most comparable exchanges, such as IQ Option.

Plus500 is a great place to start if you want to start day trading cryptocurrency. The only significant possible problem is that MT4 and other automatic trading systems are incompatible with each other. Plus500, on the other hand, provides more than enough to keep you in control of your trades if you’re a novice leverage-powered crypto trader.

  • BTC, ETH, XRP, LTC, BCH, and IOTA are among the cryptos that are now available.

  • Credit/Debit Card, PayPal, Skrill, and Bank Transfer are all acceptable methods of payment.

  • Currencies accepted: AUD, GBP, EUR

  • Support: Live Chat and Email are available 24 hours a day, 7 days a week.

  • Brokerage Fees: No Commission Brokerage

When trading CFDs with this supplier, 80.6 percent of retail investor accounts lose money. You should think about whether you can afford to take such a significant risk with your money. The FCA (#509909) has approved and regulated Plus500UK Ltd. The underlying assets are not yours, nor do you have any rights to them. Please see the Disclosure papers on the Plus500 website for further information.

Visit TotalCrypto.io for more information.

1) Are you unsure which cryptocurrencies to invest in? Our in-depth reviews will teach you more about various cryptos and their prospects.

2) Plus500 Isn’t Getting You Anywhere? Is It More Your Thing To Copy Crypto Trading Experts? Learn how eToro may be the right trading platform for you.

3) Do you want to improve your crypto market prediction skills? Learn how technical analysis may help you improve your trading skills.

[ratings]

DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.

Plus500 is a trading platform for cryptocurrencies. The plus500 fees are the costs associated with trading on this platform. The guide below will help you learn how to trade on Plus500 and avoid the fees.

Frequently Asked Questions

Is Plus500 good for beginners?

Plus500 is a good option for beginners to start trading with.

How do I buy shares in Plus500?

You can buy shares in Plus500 by signing up for a new account.

How does Plus500 trading work?

Plus500 trading is a form of online trading that allows investors to trade stocks, commodities, and other financial assets.

  • how to make money on plus500
  • cfd trading
  • plus500 review
  • plus500 login
  • trading 212

Gamezeen is a Zeen theme demo site. Zeen is a next generation WordPress theme. It’s powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions.

Categories

More Stories
Crypto market cap hits new all-time high as BTC, ETH soar