Plus500 Crypto Review: How to Trade Bitcoin CFDs With Plus500?

In the realm of cryptocurrency trading, Plus500 stands out as a popular platform known for its user-friendly interface and comprehensive range of tradable assets. Cryptocurrency, a digital or virtual currency, has gained immense popularity over the past decade or so, and Bitcoin, its pioneer, remains by far the most significant player in the market.

In this review, we are going to focus on Plus500’s chops as a cryptocurrency trading platform and look into how to trade Bitcoin CFDs with Plus500.

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Plus500 crypto review

Plus500 is one of the best CFD trading platforms for both crypto and traditional asset investors. It caters primarily to beginners, offering a user-friendly interface and a hassle-free trading experience. With competitive spreads and fees, it allows traders to keep their costs low. In addition, Plus500 boasts a strong regulatory framework and charges no commissions on trades.

Platform overview

Plus500 stands out for its extensive selection of cryptocurrency CFDs, encompassing over 20 popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and many more. This vast array provides traders with ample opportunities to capitalize on the dynamic cryptocurrency market.

The broker provides a dedicated Trading Academy section packed with educational materials, including articles, video tutorials, and webinars. These resources cater to traders of all levels, helping them enhance their trading knowledge and skills.

Plus500’s trading interface is both intuitive and easy to navigate and use.

Trading options and tools

Plus500 empowers traders with a suite of advanced trading tools to enhance their trading experience– these tools include:

• Technical indicators: A comprehensive collection of technical indicators, such as moving averages, Bollinger Bands, and Relative Strength Index (RSI), enables traders to analyze market trends and make informed trading decisions.
• Order types: Plus500 offers a variety of order types, including limit orders, stop-loss orders, and trailing stops, allowing traders to control their risk exposure and execute strategies effectively.
• Charting tools: Advanced charting tools provide traders with a visual representation of market movements, enabling them to identify patterns and make informed trading decisions.

There are dozens of different technical analysis indicators to choose from. 

How to trade Bitcoin CFDs with Plus500

In the following sections, we are going to show you how to trade Bitcoin CFDs on the Plus500 platform.

Account setup

First, you need to open an account with Plus500. You can create an account with your email address, or use one of the available account sign-in options, including Google, Facebook, and Apple.

Deposits and withdrawals

In order to start trading Bitcoin CFDs, you’ll need to verify your account by providing the relevant personal information. Next, you’ll have to use one of the supported payment methods. You can check more about the minimum deposit and withdrawal amount in the FAQ section below.

Here’s the full list of payment methods supported by Plus500:

• Bank transfer
• Visa
• Mastercard
• Maestro
• PayPal
• Skrill

All options are processed immediately, apart from the bank wire option, which can take up to 5 days.

Executing trades

To trade Bitcoin CFDs, you’ll need to navigate to the trading page and search for “Bitcoin.” There’s also a dedicated section for cryptocurrencies that features over 20 different assets if you want to trade cryptos other than Bitcoin. Once you click on “Sell” or “Buy” options, a trading window with available options will appear. Here, you can pick contract size and other order properties like trailing stop value, close at loss limit, and more.

Benefits of trading Bitcoin CFDs with Plus500

Leverage and marg1n trading

Plus500 offers leverage, enabling traders to open larger positions with a smaller initial investment. This amplification of trading power can potentially increase profits. However, it’s crucial to note that while leverage magnifies gains, it also amplifies losses, requiring prudent risk management strategies.

Due to high volatility, the maximum leverage you can use for cryptocurrency CFDs is 2x, whereas the maximum leverage amount for forex is as high as 30x.

Flexibility and accessibility

The platform’s accessibility through both web and mobile applications ensures traders can engage in the market at their convenience. This flexibility allows users to monitor market trends, execute trades, and manage their portfolios from anywhere, anytime.

Plus500 is accessible on mobile devices through native apps for Android and iOS. 

Market analysis tools

Plus500 provides a suite of comprehensive tools for technical and fundamental analysis. Traders can utilize these tools to perform in-depth market analysis, assess trends, and make informed trading decisions. These analytical tools include charting packages, indicators, real-time market news, economic calendars, and direct chart comparisons of different underlying assets.

Some common technical analysis indicators available on Plus500 include:

• Moving Average Convergence/Divergence (MACD)
• Bollinger Bands
• Exponential Moving Average (EMA)
• Relative Strength Index (RSI)
• Volume Underlay

Risk management features

In addition to offering leverage, Plus500 provides risk management tools to help traders mitigate potential losses. Stop Loss and Take Profit orders allow users to set predefined price levels at which their positions will automatically close, reducing the need for constant monitoring. Trailing Stops, another feature, dynamically adjusts the stop level to lock in profits as the market moves in favor of the trade.

Demo accounts for practice

Plus500 offers demo accounts, allowing users to practice trading without risking real money. These demo accounts simulate real market conditions, enabling beginners to familiarize themselves with the platform and experienced traders to test new strategies. This can be especially useful if you are just starting out with CFD trading, or want to use crypto day trading strategies.

You can switch between “Real Money” and “Demo Mode” by clicking on the toggle in the trading view.

Plus500 crypto review FAQs

Can Plus500 be trusted?

Plus500, a well-established platform in the trading sphere, is regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). This regulatory oversight ensures adherence to stringent financial standards, providing a level of assurance to users.

In addition, Plus500 is a publicly traded company, listed on the London Stock Exchange, adding a layer of transparency and accountability.

Can I use Plus500 in the US?

Yes, you can use Plus500 in the US. However, the available trading options are somewhat limited compared to the international version of the platform. Users from the US are limited to futures and options on futures. 

What is the minimum withdrawal from Plus500?

The minimum withdrawal from Plus500 depends on the payment method you use. Here is a table of the minimum withdrawal amounts for each supported payment method:

*The minimum withdrawal amounts are expressed in USD. They are equivalent in other currencies.

It is worth noting that withdrawals below the limits in the table incur a fee of $10 (or equivalent).

How much money do you need to start on Plus500?

The minimum deposit amount to start on Plus500 is $100 (or equivalent).

The bottom line

Plus500 is a robust platform for trading Bitcoin CFDs, offering a user-friendly interface, comprehensive tools, and a secure trading environment. If there’s something to nitpick regarding Plus500, we wish the maximum leverage level for cryptocurrency CFDs would be higher – this would allow traders to leverage small market moves better and magnify profits more effectively.

If you want to trade cryptocurrencies but are not necessarily sold on CFDs as the preferred derivative options, check our selection of the best crypto futures exchanges and our list of the best crypto options platforms.

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