The Cash Diaries

My experiments in passive income, trading and life

How I’m making money with Plus500

Plus500Have you heard anything about the price of oil on the news recently?  It’s been tanking of late.  So luckily for me, I was selling Oil through my plus500 account and was able to turn a sweet profit.  That’s one of about 30 trades I opened over the past month and a bit while I’ve been trying out Plus500.

How to Make Money with Plus500

Plus500 allows you to trade currencies (forex), commodities (like Gold and Oil) and other CFD’s like stocks such as Apple or Google.

So before you start thinking about making money on plus500 you need to first have a strong understanding of financial markets.  Wild guesses will just result in you losing money.

If you’re after a more beginner friendly investing platform then I recommend you try etoro

You’ll make money on Plus500 by opening either Buy or Sell positions.  A buy (long) position, if you think the asset will rise in value or a sell (short) position, if you think it will lose value.  To figure out how to make these trades, will require experience.  Luckily plus500 offers a free demo account.  So you can practice trading with pretend money.  This way you can get to grips with the interface and gain valuable trading experience.

My plus500 trading account

 

 

Who is Plus500 For

I think Plus500 is for intermediate to experienced traders.  If you’ve tried other FX platforms and are looking for a better interface then Plus500 is for you.  If you’re looking for a platform that has what I believe is one of the largest ranges of financial products to invest in, then Plus500 is definitely for you.

Beginners Should Try eToro

If you’re brand new to trading, then I would recommend you first start out on a platform like etoro.  With eToro you can copy the trades of experienced guru traders.  This is probably the best trading education you can get.     I’ve made thousands of $$$ on eToro with very little trading experience and only move to plus500 after I had learned about markets through etoro.

A Very Generous Welcome Bonus

Plus500 gives you a welcome bonus of $30 to start trading!  No catch.  Just sign up, make sure you’re account is verified and you can start trading with it.    There is no deposit required.

Webtrader.  No Download Required

Plus500 has a very easy to use web trading interface.  You don’t need to download any software. It just works.  There are downloadable versions of the trading app.  Including for mobile.  But I’ve always found the web trading interface to work best.

A Forex Platform that Accepts PayPal!

I use PayPal a lot.  And always like to use it for my trading accounts.  Mainly because it’s instant and there is no waiting like a bank account.  Plus500 accepts PayPal as well as all the other usual funding options.  As PayPal is quite strict with financial companies, seeing a forex platform accept paypal is always a good indication.

Tried Binary Options?  Use Plus500 Instead

I’m not a huge fan of binary options.  I think there is too much risk involved.  With Plus500 you can still make bets on the market going up or down just like with Binary Options, but your positions won’t suddenly close.  You can keep your positions open to counter any fluctuations in the market.

But if you do really want to trade options, don’t worry – you can on Plus500.  Yes thats right, as well as all the other countless financial products they offer, you will find options available as well.

Try Plus500 for free

10 Comments

  1. How can I trade oil on plus500, what are the pro and cons?

    • Matty

      May 2, 2017 at 3:41 am

      You’d be trading an oil CFD – you can go either long or short on these. Just remember that these contracts have expiry dates. So you’ll need to close your position before this happens.

  2. I am seeing some growth in my position on Plus500 but concerned as I’m seeing a lot of negative comments about them closing peoples’ accounts on them and general concern about their business practices in general.
    I assume you are trading safely with them and able to cash out significant amounts at any time? I am struggling to get an unbiased comment on how risky the situation is and worried that whilst I may be able to withdraw small amounts that when it comes to a significant amount they will close the door on me.

    • Matty

      May 18, 2017 at 6:40 am

      i’ve personally had no problems with small amounts as well. Never cashed out huge amounts ($20k etc.) so I can’t be 100% certain.

  3. hi .first i wanna say thank you for those information ,secondly am wondering if you could help me am still just a Beginner and i wanna try this blatform and this method .if you want to help me i will be really grateful. thank you.

    • Matty

      July 10, 2017 at 1:16 am

      There are lots of guides on this site about getting started. Just make sure you start with a practice account. Only switch to a real account when you’re actually making consistent profitable trades in a practice account.

      • I’m new to it all when I go on demo when I buy long or short it starts with a loss why is this a always assumed you buy at one price then you make a loss or profit on it moving up or down from the price you paid but I’ll it seems to do is when you buy you start with a loss and have to make that up before you go into plus

  4. good day my brother in law told me about 500 plus platform i wanna know more about you , actually i use meta trade 4 , but does not work for me . just wanna change . i am in Durban when is your next seminar over here?

  5. I’m new to it all when I go on demo when I buy long or short it starts with a loss why is this a always assumed you buy at one price then you make a loss or profit on it moving up or down from the price you paid but I’ll it seems to do is when you buy you start with a loss and have to make that up before you go into plus

    • Matty

      October 18, 2017 at 1:41 am

      That’s the spread – and it’s how brokers make a profit. When you open a long trade, the price it opens at will be the quoted short price. And when you open a short trade, the price will be the quoted long price. So every trade you open will be slightly in the red.

      Some brokers offer lower spreads – so if the spread is eating into your profits (due to your trading strategy), might be best to look for another broker.

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