How To Setup an Account on Plus500

How To Setup an Account on Plus500

What is Plus500 Ethereum Trading?

Plus500 Ethereum trading refers to trading CFDs. Contracts for difference – a CFD – is technically a unit that is traded on the platform. Essentially, this market is all about speculation. If you think that the price of Ethereum will rise, you purchase 10,000 units or CFDs to show that position. Now, if the price actually does go up, you would make a profit based on how much the market moves in your favour.

Conversely, if the market moves against you, you would be at a loss because your purchase of the 10,000 CFDs has been devalued. When you trade CFDs, you’re not trading the underlying asset, there’s no ownership of the underlying asset either at any point.  You only buy CFDs, a speculative representation of the asset. The best part about trading Ethereum CFDs is that you can go short as well as long. That’s why Plus500 Ethereum trading is a favourite amongst traders.

Imagine you think that the price of Ethereum will decrease in the future. You can sell 10,000 unit CFDs and buy them later on in the day. If the price did decrease, you would have sold them at a higher price than what you bought them at. This is called going short and can make great profits. This process can be reversed as well if the price increases rather than decreasing. In this case, your loss could exceed your deposit.

 

How to set up an account on Plus500

Setting up an account on Plus500 incredibly easy and can be done in three steps. You can visit the link to Plus500 and the page looks something like this:

Here, you click on Start Trading Now and the next page will ask you whether you’d like to open an account with real money or a demo version.

After, you click on Real Money and the website will take you to their registration page. Now, it will ask you for your email and your password. That’s it. It took me about two minutes to register myself from opening the Plus500 page to creating an account.

After entering your email and passwords, you can start Plus500 Ethereum trading immediately after you deposit funds. You can even choose the demo Plus500 Ethereum trading whilst waiting for your funds to arrive. This will give you a chance to develop your trading skills before you invest money.

What is the next step?

The next step is to deposit money into your Plus500 account. This is the only part that can take some time, depending on which region you are in. There are several ways through which you can deposit money into your new Plus500 Ethereum trading account!

For traders, one can make a deposit on the website using major credit cards, PayPal or wire transfers. You can invest in your local currency (Euro, Pound, etc…) and withdraw your profits in your own currency as well. The deposit and withdrawal process is quite easy as well; it takes not much time to receive or send your funds.

Why Plus500?

The Plus500 website offers several features that set it apart from the rest. Firstly, the risk-management tools are a great way to minimise your risks. These tools allow you to minimise your loss when for example you speculate that Bitcoin prices will rise, and it eventually plummets, the program will automatically change your position when the price drops to a specific level.

The platform currently enables you to invest in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), DASH and NEM. This is quite a large range of leading crypto currencies compared to all other CFD trading platforms. If you want, you can diversify your portfolio by doing Bitcoin trading rather than only Plus500 Ethereum trading.

The greatest feature by far on Plus500 is that it displays most of the world’s financial instruments market prices on the website in real time, this allows for better monitoring of the trades that you make. The graphical representation on the website as well as an interesting feature because it is very easy to use and helps in developing your future speculations.

Hopefully, this guide has been helpful for you to open an account on Plus500.

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About Article Author

Martina Kelowsky
Martina Kelowsky

Currently working on her Master Degree in Economics & Computer Science she lives in Russia. She is a Bitcoin Enthusiast since 2013 and Investor in various ICO since 2014. She aims to democratize a future where money is decentralized and transaction anonymous.

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