Plus500 WebTrader: how good is the software?
At Plus500 you can trade by using their WebTrader. Within the online WebTrader you can open CFD positions on stocks or cryptocurrencies with just a mouse click. But how does the Plus500 WebTrader work?
Create an account on the WebTrader
Before you can use the WebTrader of Plus500, you must first open an account. Opening a demo account is free and only takes a minute. Use the button below to request your free demo account:
On the website, press the Start trading now or Try free Demo button.
To open a demo, you just need an email and a password. You can even log in directly with your Google or Facebook account.
How does the Plus500 web trader work?
The Plus500 web trader is very user-friendly. When you log in you can immediately start trading in a CFD of your choice.
On the far left of the screen you see the menu. Here you have the following options:
- Trade: here you can immediately open a CFD position.
- Open positions: here you can manage your open trades.
- Orders: here you can manage your outstanding orders.
- Closed positions: here you can view your historical trades.
- Real money: with this button you switch to a real money account.
At the top you can see the balance on your account:
- Available: this is the money that you can immediately use for your trades.
- Equity: this is the value of your account +/- your outstanding trade profit & losses.
- Maintenance Margin: This is the amount you need to keep your positions open.
- Profit/Loss: This is the amount that you currently have in profit or loss.
Next to the menu you see an overview of the categories of CFDs in which you can invest. You can also choose to use the search function to immediately find an effect you want to trade in.
Within each category you will see a list of securities you can trade in.
You can choose to buy or sell a security. When you buy you earn money when the price increases. When you sell, you actually earn money when the price drops. When you press one of these buttons, the order screen opens.
You can immediately open a position within the order screen. You have the following options here:
- Amount: enter how many contracts you want to buy
- Close at profit: At this value you close the position with a profit
- Close at loss: at this value you close the position with a loss
- Buy: open the position directly
- Trailing stop: the stop loss will move up with your profits
- Buy when rate is: open the trade when a certain price is reached
You can also request more information for each effect:
Here you can find the following information:
- Unit amount: the minimum amount you can trade
- Leverage: the maximum leverage you can apply
- Spread: the costs you pay on the transaction
- Point value: the value of a one point rise
- Overnight funding – Buy: the premium that you pay daily on a buying position
- Overnight funding – Sell: the premium that you pay daily on a short position
- Initial Margin: the percentage you need to open the position
- Maintenance margin: the percentage you need to keep your position open
- Expiry date: the moment when the CFD closes automatically
- Trading session: the trading times of the specific CFD
At the bottom of the WebTrader you can see the graph of the security. This allows you to follow the price trend of the CFD.
With the graph you can perform extensive analyses. For example, you can draw horizontal levels. In addition, it is also possible to use technical indicators. Technical indicators can help you make trading decisions.
Mobile software Plus500
You can also use the Plus500 mobile application. With the mobile software you can place orders on CFDs. It is also possible to set notifications: you will then be notified when a certain price level has been reached.
The mobile software is less extensive than the WebTrader. The mobile software is therefore especially useful for traders who are often on the road. You can then use the mobile application to keep track of your open trades.
Is the Plus500 software of high quality?
The Plus500 software mainly excels in its user-friendliness. Even people who are not handy with the computer can use the software.
The number of analysis options is somewhat more limited compared to the more advanced software packages of some competitors. However, Plus500’s software will be more than sufficient for most traders. In our review you read how Plus500 scores on other points.
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