Frequently Asked Questions


Plus500 WebTrader Review 2021: Trading with Plus500 WebTrader

 

Is the Plus500 WebTrader worth using? The answer may be easier to know after you go through this Plus500 WebTrader Review.

72% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk of losing your money.

 
Plus500
Plus500 Website

Overview:

  • Minimum Deposit: $100
  • Maximum Leverage: 1:30 (T&Cs apply)
  • Tradable Assets: over 2000
  • Regulated by: Plus500AU Pty Ltd. is Authorised Financial Service Provider (#47546) in South Africa
  • Demo Account: Yes

Note: Your capital is at risk

 

 

 

Intro about plus500 WebTrader

The Plus500 WebTrader is a proprietary trading platform that does not require download or installation. It is entirely accessible via a web browser. The platform is popular among novice traders for CFD trading of forex, ETFs, indices, commodities, and equities. The platform is available in two modes: demo mode and real money mode. The demo mode can be used for free of charge and it has no time limit. To use the real money mode, you have to make a minimum deposit of $100 before engaging in live trading.

 

 

Features & Tools

The ability of Plus500 WebTrader to allow traders trade multiple markets at the same window while receiving live quotes at the same time is one of the main attractions of the platform. The user-friendly interface allows easy and precise navigation for the users. Moreover, the platform comes with its own charting capabilities and financial indicator located on the left side of the screen. So, traders are allowed to overlay various indicators onto their analysis and the impact. While the charts may seem basic for the more experienced traders, the setup is ideal for novice traders as they would not have to suffer from overloaded information. It is recommended for beginners to use the demo account before going live.

plus500 webtrader

 

 

Tools for keeping traders up to date

The world of trading is fast-paced where events can change in no time. It is crucial to keep up to date with the latest news and events circulating in the market. Plus500 platform offers several tools to keep the traders informed of all the fluctuations of the market, such as:

 

  • Economic calendar: It keeps you updated of the known or predicted events, along with useful information such as where the events would take place and an easy-to-read key of the probable impact. You can use easy-to-select options to choose which day you want to check, including yesterday, today, tomorrow, or this week.
  • Price alerts: Set an alert to be notified when an instrument reaches a specified buy or sell price. This reacts to the price movement and sends the trader a notification by push, text, or email.
  • Change percentage: This alert notifies the trader when the absolute price change of an instrument reaches a certain level. This alert can be set in order to notify the trader on a daily or hourly basis.
  • Traders’ sentiments: With this tool, traders can find out when a percentage of sellers and buyers among Plus500 traders reaches a certain level.

 

It is easy to access all this information that offers you an advantage while reacting to the events in the market.

 

 

Risk management tools

Plus500 WebTrader offers a range of tools that play a major role in risk management. One of these is the option of ‘Close at Profit’ or ‘Close at Loss’ rates. You can apply these options while opening a new position or pending order. You can also add them while editing an existing position. These options allow traders to set a rate when their positions would close, preserving the profit or minimising a loss.

Although it is useful tool, it cannot protect against slippage. So, there are circumstances when the loss may be bigger than the trader had anticipated. So, the platform offers another tool to deal with this, known as ‘Guaranteed Stop’. However, this tool is not always available.

You can apply this only to a new position or pending order as it cannot be edited to an existing order. If it is applied, your position would be automatically closed at the specific price, even if slippage takes place. The ‘Trailing Stop’ is another useful tool on the platform. It allows your position to remain open as long as the price moves in your favour.

If the price changes direction by a certain number of pips, it would close automatically looking at the profits. However, the price cannot be guaranteed due to slippage. The ‘Close at Profit or Loss’ rate and the ‘Trailing Stop’ are offered to the traders free of charge, but the ‘Guaranteed Stop’ has a non-refundable extra spread charge.

 

 

Step by step guide - Using the Plus 500 WebTrader

Follow these basic steps to start trading on WebTrader easily:

 

  1. Creating Account

You have to create a trading account to use the platform. When signing up, you can select either a demo mode or a real money account. The demo account offers $40,000 virtual cash to trade so the trader does not have to use real money for trading. However, you need to fund your account to trade in real money mode.

 

  1. Selecting Instrument

After you select your trading account, it is time to choose the instrument that you want to trade. The instruments available on Plus500 are all displayed in the panel located on the left of the screen.

 

  1. Choosing the direction of trade

After deciding which instruments to trade with, it is essential to decide the direction of the trade. You can either sell (go short) if you are expecting that the price is going to fall, or you can buy in the expectation that the price would rise.

The chart located on the lower section of the screen can help you to make up your mind on the direction of the trade. You are free to switch the time frame of your chart between 5 minutes and 1 week. Moreover, the chart allows you to choose between a line display and a candlestick chart display. You can also superimpose technical indicators on the chart by clicking on the indicator ta that is located on the right of the candlestick tab.

 

  1. Enter the investment amount

Once you have decided on the direction of your trade, you can just click on “Buy” or “Short” button mentioned in the step above. A separate window would pop up on the screen that would allow you to enter the amount you wish to trade. After that, simply click on the “Buy” or “Sell” button at the bottom of the pop up window and execute your trade.

Before completing the transaction, you have the option to put a take profit and stop loss limitations on it. You can do it by clicking on the options on the same pop up window and choosing the amount of the execution.

 

 

Plus500 WebTrader for the Novice Trader

A novice trader can easily access and navigate the website of Plus500 where all information is presented simply and comprehensively. The trading platform has a well-deserved reputation for being user-friendly. So, even the most inexperienced traders can trade on it confidently. The risk management features also offer reassurance to new traders. Using these features is considered a great way to start trading as they lower the chances of losses.

If you need any help, you can contact the customer services of Plus5oo that is available 24/7. It allows addresses any question or problem immediately. However, you can only contact the support via live chat or email because there is no phone number listed on the website. You can also find information from the FAQs but Plus500 does not offer educational webinars, videos, or training. If you want to try Plus500 but are not sure if it is the right option for you, set up a demo account first and try it without risks.

 

 

How to access demo account using Plus500 WebTrader

The demo account of Plus500 is a major beneficial feature of the platform that offers the traders a trading experience as close as possible to the real deal. However, when you are using the demo, you do not have to worry about risks. Traders are given virtual money to trade with at the time of setting up the account. So, all profits and losses are virtual ones. The demo platform offers real market conditions and allows the traders to use the same tools as the real account. As a result, you get to know about the platform better and test trading strategies without worrying about loss. Unlike many other brokers, Plus500 offers traders unlimited access to the demo account. You can choose the demo account while signing up and access it from the platform easily.

 

 

Advantages and Disadvantages of Plus500 WebTrader

Trading with Plus500 WebTrader has many advantages. The most important ones are:

  1. The trading platform is easy-to-use, and intuitive. So, even novice traders with no knowledge or experience in trading can access this platform easily.
  2. The company also offers an impressive mobile platform that offers access to the platform at any time the traders need.
  3. The Plus500 WebTrader mobile platform is also available on a Windows device which is rare among brokers.
  4. The competitive spreads for trading on this platform makes it a preferable option to investors.
  5. The platform offers a vast range of base currencies to open an account. Moreover, both the website and the trading platform offer support in multiple languages.
  6. Other key advantages include the negative balance protection and risk-avoiding tools that are useful for both new and experienced traders.

 

However, there are also some disadvantages of Plus500 WebTrader, such as:

  1. It only trades CFDs, which are leveraged products. It means that they carry a high risk to capital.
  2. As the fee structure is built into spreads, calculating it is not always easy and the rate for overnight calculation is hidden.
  3. Some major features like relevant news feed, fundamental and analyst recommendations are omitted from the platform.
  4. Apart from the economic calendar and alerts set by the trader, research is lacking on the trading platform.

 

 

The bottom line

Since CFD is a high-risk product and the market is filled with scams, traders and investors interested in CFDs must select a genuine broker, and Plus500 WebTrader fits this definition. It has a lot to offer to both novice and experienced traders. Experienced traders can trade from anywhere with the intuitive, web-based platform with the help of innovative tools. Novice traders also enjoy the easy-to-use platform. If you are still confused, you can always the demo account to clear your concerns.

  

For more please read Plus500 Broker Review

Note: Your capital is at risk

 

FAQ

1. How does the Plus500 webtrader work?

The Plus500 WebTrader does not require download or installation. It works on a web browser directly.

2. Which is better: eToro or Plus500?

Plus500 is one of the best trading platforms available in 2021 and it is definitely better than eToro.

3. Is the Plus500 software of high quality?

Plus500 is high-quality software with its user friendly trading platform, risk management tools, and risk free demo account.

4. Does plus500 offer MT4?

No, Plus500 does not offer MT4 because it is confident in its own system.

Risk Warning: Trading may not be suitable for everyone, so please ensure that you fully understand the risks involved. Especially trading leveraged products such as Forex and CFDs carry a high degree of risk to your capital and can result in the loss of your entire capital. Only invest with money you can afford to lose.