Plus500 Demo Account
Plus500 is a well-balanced CFD broker with 2,800+ tradable instruments inside its proprietary web-based trading platform. The unlimited Plus500 demo account provides traders with a necessary tool to familiarize themselves with the account features and services before making their first Plus500 deposit. Read the full Plus500 broker review for additional info.
Our comprehensive Plus500 demo account review covers the Plus500 demo account features, offers tips on its best usage, discusses the pros and cons, and covers the differences to live accounts. Find out how you can benefit the most from your Plus500 demo account.
Plus500 Demo Account Opening - Step-by-Step
The Plus500 demo account opening process ranks among the fastest and simplest industry wide. Follow our step-by-step guide below, and you will log into your Plus500 demo account with the last step.
Here is how you open your Plus500 demo account:
1. Go to the Plus500 website and click on the white “Try Free Demo” button in the middle of the homepage.
2. The new tab only asks for an e-mail address and password. Alternatively, traders may use their Google, Facebook, or Apple accounts to register for their Plus500 demo account. While the default demo account balance is excessive, traders can lower it inside the trading platform under the fund management section.
3. Plus500 has no time restriction on its Plus500 demo account and automatically renews the demo account balance once the portfolio drops below $200.
Noteworthy:
- Traders should select the virtual funds deposit for their Plus500 demo account at a similar amount they plan to deposit for their live accounts
How to Use the Plus500 Demo Account
Beginner traders can use the Plus500 demo account to familiarize themselves with the user-friendly Plus500 trading account. They should lower the demo balance to what they plan for their live deposit to simulate demo trading with a more realistic outcome. Seasoned traders can use the Plus500 demo account to test strategies, adjust parameters, compare performance, and fine-tune their trading approach.
Traders can benefit from the Plus500 demo account if they use it properly. Our below tips will allow you to get the most from your demo trading experience.
Tips on using the Plus500 demo account:
- Familiarize yourself with the functionality of the trading platforms
- Use a demo account balance like what you plan to make for a live deposit
- Trade lot sizes suitable to your portfolio balance and avoid high-risk trades
- Execute your risk management process as if it were a live account
- Test and tweak strategies, gather trade data and com performance
- Consider the demo account limitations, like the absence of trading psychology
- Avoid replenishing the demo account balance if you are using demo trading as an educational tool
- Use your demo account daily and try treating it as a live account as much as possible
Plus500 Demo Account Features
The Plus500 demo account aims to provide near-identical trading conditions to live trading in a risk-free environment with virtual money. Traders can use the Plus500 demo account to evaluate the trading conditions and familiarize themselves with the user-friendly trading platforms and features. Beginners must also consider the limitations of the Plus500 demo account, as it cannot replicate exposure to trading psychology or slippage, as no actual trading occurs.
Plus500 never pressures traders into live deposits, makes access to demo trading hassle-free, and has no time limits, unlike many brokers who restrict usage to between 21 and 30 days. Beginners have time to learn at their pace but should lower the demo account balance to one they plan to use for their Plus500 minimum deposit.
Traders can easily switch between demo and live trading by toggling the setting in the trading platform, after which a pop-up confirms the change. Therefore, the Plus500 demo account is ideal for beginners and seasoned manual traders to tweak, compare, evaluate, and fine-tune strategies.
Plus500 Demo Account Overview at a Glance
Plus500 Demo Account | Features |
|---|---|
Availability of a Plus500 demo account | Yes |
Plus500 demo account duration | Unlimited (for as long as traders use the Plus500 demo account) |
Plus500 demo platforms | Proprietary web-based trading platform |
Plus500 demo account options | Custom demo account balance with fixed leverage settings |
Algorithmic trading (EAs) enabled | No (Plus500 does not support algorithmic trading) |
Plus500 demo account balance | Customizable between $200 and $40,000 or a currency equivalent |
Number of Plus500 demo accounts | One per account |
Difference Between Live and Demo Plus500 Accounts
While the Plus500 demo account attempts to simulate live trading conditions, it cannot replicate exposure to trading psychology. Not to be underestimated, mastering trading psychology separates profitable traders from up to 90% of unprofitable ones. Additional trading aspects that the Plus500 demo account cannot simulate are execution slippage, requotes and other trading issues and of course real profits, and losses.
Beginners who want to use the Plus500 demo account for educational purposes should consider its limitations. Many achieve profitable demo trading followed by immediate losses in live portfolios due to the lack of exposure to trading psychology and how it influences trading. Beginners must factor in if they have never faced live trading conditions, as no simulation can offer exposure to the necessary aspects of successful trading.
Pros and Cons of the Plus500 Demo Account
Traders should consider the pros and cons of the Plus500 demo account. It will ensure they understand what they will get and how to use it to the best benefit while avoiding shortfalls.
The pros of the Plus500 demo account are:
- Simple registration (it only requires an e-mail and password)
- No software downloads, as traders get immediate access to the web-based platform
- Flexible Plus500 demo account balance between $200 and $40,000
- No time restrictions
- Availability of trading instruments and services like price alerts
- Hassle-free switching between live and demo trading
The cons of the Plus500 demo account are:
- No leverage flexibility
- No algorithmic or copy trading (Plus500 only supports manual trading)
- Only one Plus500 demo account per client
- Lack of exposure to trading psychology
- False sense of security and accomplishment
- May promotes reckless trading, unrealistic expectations, and a wrong mentality
Plus500 Demo Account Bottom Line
The Plus500 demo offers traders unlimited access, a five-second registration process requiring an e-mail address and password only, a download-free trading platform and unlimited access. Therefore, it ensures all clients from beginners to seasoned traders have a vital tool to familiarize themselves with the trading platform, evaluate the trading conditions, tweak, compare and fine-tune strategies.
Beginners should consider the limitations and shortfalls of demo trading while considering our above tips to ensure they get the maximum benefits of their Plus500 demo account. Clients can easily toggle between live and demo trading, but Plus500 only permits one Plus500 demo account per trader. The Plus500 demo account is a valuable and necessary tool if used for its intended purposes. Regrettably, Plus500 does not support algorithmic or copy trading, but it automatically replenishes demo funds once the portfolio drops below $200 or a currency equivalent. No download is necessary for the Plus500 demo account, as traders get immediate access to it on the web-based trading platform. Beginners should treat their Plus500 demo account similarly to a live portfolio, including the demo account balance, trade settings, risk management, and daily usage. They can use it to familiarize themselves with the trading platform, tools, and trading conditions, but they should also consider its limitations, primarily the lack of exposure to trading psychology. Traders with a live portfolio cannot delete the Plus500 demo account, as Plus500 links them via a toggle inside the trading platform. Pure demo traders can stop using the Plus500 demo account or contact customer support to request deletion. Traders can open a Plus500 demo account via the online registration form, which only requires an e-mail and password. A Plus500 demo account is automatically available with each registration, and traders may open one without a live trading account.FAQs
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