Plus500 Accounts Comparison - Which Should I Choose?
Plus500 is a multinational financial technology company that provides electronic trading platforms for various financial instruments. Technology-based trading relies on these developments to monitor and anticipate market shifts. Trades in stocks and other digital assets (such as Cryptocurrencies) are included in this category.
Plus500 offers various assets for purchase and ownership, and trading isn't limited to a particular market or product type.Plus500's website and app serve as a trading hub in many countries (limited by geographic location).
The company's extensive catalog of trading options necessitates a variety of trading accounts, like,
The Demo accounts
The Retail account and
The Professional account (Please note that professional accounts do not have ICF protection)
Plus500 (The professional account)
Plus500 offers a plethora of advantages to its professional account users. All that's needed to open this account are
Users must have done a lot of business in the year before (at least ten transactions per quarter of a significant size on the relevant market, on average, over the last four quarters).
Have more than 500,000 EUR in savings or investments (shares and cash deposits made to fund or realize profits from investing).
Portfolios of real estate, physical commodities, and the notional value of leveraged instruments are not included in these investment criteria. They are not needed to open the account but must be shown as proof.
Adequate expertise in the field you want to put your money into
An individual is qualified to create a business account if they satisfy any two of the conditions above.
Existing Plus500 users may easily transition to a professional account, provided that they meet the required criteria. It should also be noted that professional accounts lose their ICF rights. A new Plus500 professional account can be created on the site's professional trading page for those who still need to get one.
Plus500 also offers a swap-free Islamic account that removes interest charges, aiming to comply with the core principles of Sharia law.
The maximum applicable leverage for professional accounts per instrument group goes as follows:
Forex CFDs - 1:300
Indices CFDs - 1:300
Commodities CFDs - 1:150
Shares CFDs - 1:20
ETFs CFDs - 1:100
Crypto CFDs - 1:20
Options CFDs - 1:5
Even though there is no minimum deposit for a professional account, you may require borrowed money (leverage) with a ratio of 1:300 up to 1:5 to trade the items above.
If the transaction's leverage is 1:5, and the product you are trading is worth "X," you will require an initial margin equal to 1/5th of the original price of the goods.
Some of the other benefits of the Professional Account are,
Protection against negative balances
Guaranteed cash refunds and client funds
The Finest Order Fulfillment Possible and
Dispute Resolution in the Financial Industry
Plus500 (The Retail account)
All the capabilities of a Plus500 Professional account, plus a few more, are available with this retail account. Please be aware that Retail accounts are eligible for the Investor Compensation Fund, unlike Professional ones.
Most traders use the Plus500 retail account, as it offers more features than professional accounts, with only a few exceptions.
Halal Investment GuideThis account may be used everywhere Plus500 operates, including the European Union (EU), the United Kingdom (UK), Singapore, and Australia. Traders from all around the globe may access the vast majority of these assets, including Plus500 options and Cryptocurrency. What assets you can utilize depends on where you are located, and vice versa (in Europe, it is restricted to 1:30, while in Asia, it can go up to 1:300).
With a Plus500 retail account, you can trade more than 70 currency pairs, including Cryptocurrencies.
The upgradation to a Professional account from a Retail account is also free.
Best Forex Swap Free (Islamic) AccountsPlus500 Demo Account
Try out Plus500 with their free sample account. It is especially true whether you are a Plus500 newbie or a trading newbie in general. Plus500's demo account may be used for as long as you want. You may devote your full attention to learning how to trade with the broker.
While you have access to virtual funds called "Demo Funds" to practice trading, no actual currency passes from the buyer in a demo account.
Best Free Forex Demo AccountsPlus500 account types comparison
| Professional | Demo | Retail | |
|---|---|---|---|
| Minimum Deposit | According to the leverage of the product trading | NA | According to the leverage of the product trading |
| Platforms | Web Browser, Mobile App (Android and iOS) | Web Browser, Mobile App (Android and iOS) | Web Browser, Mobile App (Android and iOS) |
| Markets | Global | Global | Global |
| Trade size | No limit | As per the provided Demo Funds | No limit |
| Commissions | Depending upon the tradable | It might be needed in the beginning | NA |
| EURUSD Average Spread | Varies depending upon the product | Varies depending upon the product | Varies depending upon the product |
| Special Features | Client Money rules are in place | Can practice with Demo Funds | Can trade up to 70 products |
Plus500 Account types vs competitors
| Admiral Markets | Plus500 | eToro | |
|---|---|---|---|
| Islamic (swap-free account) | Yes | No | Yes |
| Cent Account | No | No | No |
| Demo | Yes | Yes | Yes |
How to open Plus500 Account?
Open a Plus500 account
If you are an existing user or have opened an account, visit the Plus500 trader page.
There you will find two options, "Real Money" and "Demo Money" options. If you choose the Real Money option, you will be automatically directed to a Retail account. If you select the Demo Money option, your account will turn into a demo trading account.
Anytime after choosing either of the options, you can still switch to the other.
To switch to a professional account from Retail, choose the upgrade option available in your dashboard.
To open a new Professional account, go to the Professional Trading page and click the "Check Eligibility" option.
You will be asked questions resonating with the eligibility criteria.
If you fit into those criteria, you will be then directed to the sign-up page to create a new account.
You can also click the "Start Trading" option on the top right corner of the webpage in the Plus500 landing page, and it will directly take you to the sign-up page. You can open any of the three accounts mentioned above types from there.
FAQs
Can you have 2 Plus500 accounts?
Broker Plus500 does not encourage opening 2 or more accounts and may close those accounts that appeared after the opening of the main one. Therefore, it is worth focusing on one trading account
What is the minimum amount with Plus500?
The Plus500 standard account minimum deposit to start trading is $100
Can I learn trading from Plus500?
You can learn to trade using the Plus500 Demo Account or the Trading Academy in Plus500.
What type of payments does Plus500 accept?
Plus500 accepts credit cards, bank transfers, and Crypto payments.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Also, Andrey is a member of the National Union of Journalists of Ukraine (membership card No. 4574, international certificate UKR4492).
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
