Plus500 CFD Trading Review: How I Turned $200 into $335 in Just 22 Days
Updated: Sep 13
Hello everyone Welcome to my blog where I share my personal experiences and insights about trading Today I'm starting a new series about my journey with the trading platform Plus500.
What is Plus500
Plus500 is a Contract for Difference CFD trading platform For those who are unfamiliar CFD trading allows you to speculate on the rising or falling prices of fastmoving global financial markets Plus500 is the platform I use here in Australia but there are many other platforms available worldwide.
My Personal Plus500 Experience
This series will document my most daring experiment yet My goal is to grow 200 into a considerable amount of money hopefully reaching four digits Please note this is not financial advice I'm sharing my journey for educational purposes only.
How Does Plus500 Work
Plus500 allows you to leverage your trades However leveraging can be risky For example if you have an account balance of 200 and you leverage it at a 1 to 100 ratio even a small market movement can wipe out your entire account balance Therefore its crucial to only leverage what your account balance can withstand.
Can You Earn Money On Plus500
Yes you can earn money on Plus500 but its not without risk My first profitable trade was a put call on a US Tech 100 contract I read that EU lawmakers were pushing for more regulation of American tech companies which caused a slight slip in the US tech market I decided to ride this slip and made a profit of 96.
Ways To Earn Money On Plus500
My strategy for earning money on Plus500 involves short term trades I don't like to stay in the market for long because it exposes me to market fluctuations I also rely heavily on stop losses and profit calls.
Is Plus500 Free
Plus500 is not entirely free While you can download the app and open an account for free you will need to deposit money to start trading Plus there are fees associated with certain actions like overnight funding and inactivity.
Is Plus500 Legit or a Scam
Plus500 is a legitimate trading platform Its regulated by several financial authorities including the Financial Conduct Authority in the UK and the Australian Securities and Investments Commission.
Is Plus500 Safe
Plus500 is considered safe because its regulated by top tier financial authorities However trading itself carries risks especially when leveraging trades Its essential to only trade with money you can afford to lose.
Withdrawing and Cash Out Experience
Withdrawing money from Plus500 is straightforward You can withdraw to your bank account credit debit card or E-Wallet However keep in mind that Plus500 has a minimum withdrawal amount and may charge a fee for withdrawals.
Conclusion
In my first few weeks of trading on Plus500 I made around 135 in profit While this may not seem like a lot its a good start for my 200 investment I'm excited to see where this journey takes me and I hope you'll join me for the ride Remember trading involves risk so always do your research and trade responsibly.