Plus500 have changed their daily Bitcoin CFD contract: The minimum number of contracts that you can buy or sell is 100. Previously the minimum was 10 contracts. The initial and maintenance margins are the same at 10% and 5% respectively. Leverage is unchanged at 1:10.
The impact to you the trader is that the amount of capital you require in your account needs to be increased to be able to provide the necessary margins to support an open position of minimum no of contracts (approx. GBP 75.00) and to have sufficient equity to allow your open position to go offside i.e towards your stop of USD 60.00 plus the spread of USD15.00 (approx. GBP 46.00). The absolute minimum capital you should have in your Plus500 trading account is therefore GBP 121.00.
The purpose of this blog is to help you discover how to trade Bitcoin safely. Bitcoin prices are volatile and unpredictable. For newbie traders, this makes trading Bitcoin difficult and losses very likely. By learning about trading methods and systems, you can discover how to reduce the risks of trading.
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