Plus500 South Africa Review
Plus500 South Africa review: Plus500 is an international online trading company offering traders with CFDs (contracts for difference). The provider is considered to be reliable and innovative. Plus500 headquarters are in Israel and the company has subsidiaries in Singapore, Australia, United Kingdom and Cyprus.
The company was founded back in 2008. Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.
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 CFD providers out there, the company currently offers its portfolio of over 2000 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.
- Live Account – the live account is straightforward and easy to use. Using Webtrader and the Plus500 platform, you can easily navigate to any page and access the information such as transaction history and your current position.
- Demo Account – the Plus500 platform is not suitable for beginners. However, 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 provider 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 CFDs.
- For Equity CFDs, Plus500 provider 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
Due to regulatory demands, please note that Plus500 has halted all bonus promotions previously featured by the company to the traders on the Plus500 platform.
Payment and withdrawals
You can withdraw your money using Skrill, PayPal, Visa, a bank transfer or Mastercard.
Is Plus500 South Africa Trustworthy?
The provider 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.
Pros / Cons
- Reliable and trustworthy
- Services available in 32 different languages
- 24/7 customer service
- Low fees, low deposits
- One of the Best CFD Providers
- Plus500 works with dynamic spreads
- Demo account with unlimited time
- Guaranteed stops
- Professional looking and advanced platform
- No meta-data trading platform
- Doesn’t have much of an information/education features
- Not taking US clients
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.
Risk Warning: “77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.”