Plus500 is a CFD brokerage firm which was founded in 2007, they are known for providing a user friendly CFD trading platform. Plus500 is listed on the AIM section of the London Stock Exchange. Plus500 allow their clients to trade CFDs on forex, ETFs, commodities and index assets on a single trading platform. The company is also a sponsor of Atletico Madrid Football Club.
Click to see a detailed review of Plus500 here.
Plus500 Trading Platforms
Plus500 offers its clients access to several trading platform applications, compatible with different computer, smartphone and tablet devices. These are as follows:
- Plus500 Webtrader (web-based trading application). This can run on Google Chrome, Internet Explorer and Mozilla Firefox.
- iOS Trading application for iPhones and iPads
- Android Trader for Android-based devices
- Windows trader, which is the desktop application that can be downloaded onto computers that run on Microsoft Windows.
- Windows 10 Trader, specifically built to run on Windows computers that run on Windows 10 software.
- Windows phone app.
Plus500 clients can choose from any of the platforms. The features of each of the platforms are listed below.
Financial Instruments Available for Trading With plus500
Clients can trade the following CFD assets on all Plus500 Platforms:
- Exchange Traded Funds (ETFs)
Plus500 WebTrader Interface
The Plus500 Webtrader has a simplified interface which features the asset groups, which can be accessed by the Trade button on the top of the page. It is also possible to view active and closed positions on the navigation bar, just to the right of the Trade button.
The assets that the trader can trade are listed, with each listing showing the Bid and Ask prices as well as the highest and lowest prices for the day. Traders can choose to Buy or Sell an asset by clicking the respective buttons located beside the Bid and Ask prices. The chart for the selected asset is shown below the asset prices. Traders can switch between line charts, bar charts or candlestick charts using the appropriate buttons just located above the chart window.
How to Make a Trade with Plus500 WebTrader
To trade an asset, simply click Buy beside the Ask price, or Sell beside the bid price (the prices listed to the left). Once any of these buttons is clicked, a small window opens which shows the asset, the current price, the amount to be invested in the trade, the required margin as well as the stop loss and take profit prices.
Each of the settings can be adjusted, after which the trader can click the trade execution button (which in this snapshot is SELL).
Plus500 Trading Apps
Plus 500 boasts of several mobile apps: Android, iOS and Windows apps. Each of these apps can be downloaded from the respective app stores.
Plus500 Mobile Trading Interface
The mobile interface simplifies the art of trading and allows easy navigation between asset groups. Again, traders can see the listing of assets and the Buy or Sell buttons shown beside the Ask and Bid prices respectively. Unlike most mobile trading apps, Plus500 has found a way to include candlestick charts just below the price information.
Trades can be conducted by simply clicking any of the trade buttons for the asset to be traded.
Plus500 Risk Management Tools
The following are the risk management tools available on the platforms of Plus500.
With Plus500, the trader can adjust the leverage as desired. So it is possible to use a leverage of 1:20 in one trade, and 1:50 in another.
‘Close at Profit’ [Limit] or ‘Close at Loss’ [Stop loss] rates
These are basically instructions to close out trades at the stop loss or take profit levels which have been pre-defined during trade setup.
A guaranteed stop loss protects the trader’s capital in the event of a large market gap or a massive slippage. On Plus500, you can use a guaranteed stop only for certain assets. A check box will be displayed beside any instrument that supports this facility. A Guaranteed Stop must be selected while setting up a new trade. It cannot be used on active positions.
It is possible to set price alerts to provide notification when the asset has hit a certain buy or sell price. This function can be seen in the Instrument list as a bell icon. Click on this bell open a ‘Price Alert’ screen. The price alert is given to the trader in the form of an SMS, email or push notification.
For instance, if gold is trading at $1205 an ounce, and you think there will be a trade re-entry opportunity at a price of $1,050, you can set a price alert for this price. If the price of gold retreats to this level, you get an email/SMS/push notification on the new price. This is a great facility for those trading with limit orders.
A trailing stop is a trade protection facility which automatically protects a position from reverse movements, while locking in profits when price moves in the direction of the trade. It is not guaranteed.
A trailing stop moves with the trade when it is in profit territory. In other words, it chases the trade. If the market reverses against the position, it freezes and can also close out the position when the market price hits the trailing stop level.