Comprehensive Review dedicated to traders from SA
Plus500 Review South Africa
Accepts South African Clientss
Who is Plus500?
Plus500 is a popular international CFD provider and platform offering a full-trading package to South African traders. The company supports having a base account currency in ZAR, provides access to 23 South African stocks and 3 forex pairs with ZAR and is licensed by the South African local financial regulator FSCA.
The Plus500 minimum deposit in ZAR is 1500 ZAR
Financial Sector Conduct Authority, Plus500AU Pty Ltd, AFSL 417727 is an Authorised Financial Services Provider FSP #47546 in South Africa.
Australian Securities and Investments Commission, Plus500AU Pty Ltd, ACN 153 301 681, AFSL Number 417727.
Financial Conduct Authority, based in the United Kingdom, license no 509909.
Risk warning: CFD service. Your capital is at risk
In total, there are over 2 000 trading instruments (all of which are CFDs) available at Plus500 to traders from SA.
- Forex – The company features on its platform 72 currency pairs. Among these forex pairs are major, minor as well as exotic pairs, 3 of the exotic pairs include the South African rand – USD/ZAR, EUR/ZAR, GBP/ZAR.
- Stocks – Plus500 provides access to over 1500 stocks. Here you can find American, European, Australian, Asian and even South African stocks. As of now, there are 23 SA stocks (for instance, Sanlam, Capitec Bank, Gold Fields…)
- Indices – In this asset category, you can find at Plus500 around 30 indices, most of which are European.
- Commodities – Plus500 has on its platform around 20 commodities, comprising of gold, silver, coffee etc.
- Cryptocurrencies – When it comes to cryptocurrency trading, Plus500 supports trading the following 12 crypto pairs: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, IOTA, Monero, EOS, Neo, Stellar, Cardano, Tron.
- ETFs – Plus500 provides access to nearly 90 exchange-traded funds (ETFs), including the world’s most popular titles like iShares, SPY, or XLF.
- Options – In this asset category, you can find at Plus500 around 200 call/put options. The most popular call and put options on the platform are on Germany 30, Oil and Facebook.
Available Deposit & Withdrawal Methods
Plus500 supports the following deposits and withdrawal methods
Supported Platforms by Plus500
Plus500 supports the following trading platforms
Trading platform of the broker
Plus500 features its own in-house built trading platform which can be accessed via a web browser or any smart device. The platform is fairly intuitive and user-friendly. For technical analysis, one can choose from 7 chart types (including the most popular option – candlesticks).
The charting system supports popular indicators as well as oscillators. If you create a trading setup you would like to use in the future, you can save it as a template. Once you decide to use it again with your pre-set up indicators you just load it from your saved templates.
The Plus500 platform also supports FREE email & push notifications on market events as well as alerts on price movements, Change % & Traders’ Sentiments.
In order to create an alert, click on the alert icon (looks like a bell) on the main page of your trading account or in the instrument details page. Here, you select when the alert should be triggered and you, therefore, notified. Based on these notifications, it is up to you, how you are going to react to markets’ movements.
When it comes to risk management, you are covered with variable risk management tools like Stop Limit / Stop Loss / Trailing Stop or Guaranteed stop loss.
Screenshot taken from the trading platform of Plus500 (Used for illustration purposes only)
Did you know?
Plus500 Ltd is a UK FTSE 250 company listed on the London Stock Exchange’s Main Market for Listed Companies.
Plus500 is mainly compensated for its services through the Bid/Ask spread. The current spreads for all assets can be found on the Plus500 instrument category in each individual asset page. Plus500 is known for one of the most competitive spreads in the industry, they start from 0,6 pips (Dynamic spreads). Plus500 does not charge any commission fees.
Plus500 does not charge any deposit or withdrawal fees (unless you exceed the number of free withdrawals, which is set to 5 per month). Withdrawal requests are processed and authorised within 1 business day. If you decide to deposit in other currency than in your local currency (ZAR), a conversion fee might apply.
South African traders can trade available instruments with up to 1:30 leverage. Here is the breakdown of maximum leverage that can be used at Plus500 depending on what asset category you trade.