Plus500 South Africa review: Plus500 is an international online trading company offering traders with CFDs (contracts for difference). It is considered more reliable and trustworthy. Plus500 headquarters are in Israel and the company has subsidiaries in Bulgaria, Singapore, Australia, United Kingdom and Cyprus.
The company was founded back in 2008 and is authorised and regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Israel Securities Authority (ISA). Plus500 is also publicly listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
As one of the most popular Forex brokers out there, the online trading broker offers up to 200 trading instruments including, EFT’s, Forex Pairs, Options, Indices, Virtual Currencies, Stocks, and many more.
Types of accounts offered by Plus500 South Africa
Plus500 offers only two types of trading accounts. They offer “Live Account” and “Demo Account”. With Live Account, you can sign up and deposit about $100 while with Demo Account is free of charge. It’s designed for trading beginners to practice with it using fake money.
- Live Account – the live account is straightforward and easy to use.Using Webtrader and the Plus500 Forex trading platform, you can easily navigate to any page and access the information such as transaction history and your current position.
- Demo Account – as mentioned above, Plus500 offers Demo Account for beginners. That is why it’s so popular. You can practice your trading skills before trading with real money. Once you are ready to trade with real money, you can now sign up for the Live Account.
Plus500 trading platform and apps
Plus500 trading apps are supported in 32 languages, including English, German, Greek, Italian, Spanish, French, Finnish, Danish, Swedish, Estonian, Russian, Romanian, Hebrew, Arabic, and Traditional and Simplified Chinese.
The initial platform was based on a Windows OS. The broker later launched a web based version of its online trading platform, allowing Mac and Linux users to trade online. They also launched mobile platforms designed for Ipad, Iphone, Android, Applewatch app, Windows Phone app, Windows trader, windows 10 trader, and Web Trader
- Plus500 offers different types of instruments and pricing. You can use your desktop or smart-phone to trade Apple, Microsoft, Google, Samsung, Hyndai, BMW and many more.
- For Equity CFDs, Plus500 broker allows you trade the CFDs over the most actively trades shares in the world. In Germany and the UK, they offer index CFD trading- S&P 500.
- For Commodities, you can trade Gold, Silver, Crude Oil and Oil as the contract value of one commodity CFD equals the price quote in the currency of the commodity.
Bonus and Promotions
Bonuses from Plus500 differ according to the amount of deposit you put in. The lower the deposit the lower bonus. For example, if you deposit $500, you will receive a $150 bonus or if you deposit $5000, you get $1000 bonus to trade. When you open an account with the initial $100, you will receive a bonus of $30.
Payment and withdrawals
You can withdraw your money using Skrill, PayPal, Visa, a bank transfer or Mastercard.
Is Plus500 South Africa Trustworthy?
The broker is trustworthy and reliable. They are accredited, and they are licensed by legal entities like FCA, ASIC, CySec. Plus500 puts your money into isolated client bank accounts. The company also has a customer service department available 24/7.
|Reliable and trustworthy||No meta-data trading platform|
|Services available in 32 different languages||Doesn’t have much of an information/education features|
|24/7 customer service||Not taking US clients|
|Low fees, low deposits|
|Up to $1000 bonus for higher deposits|
|Demo account with unlimited time|
|Straightforward and easy to use|
Plus500 website is easy to navigate around. The design and theme is eye catchy. Both mobile and desktop views are clear. You can trade anytime and anywhere using your smart-phone or tablet.