Plus500 Australia – All you should know

Plus500 does accept traders from Australia so if you are based there, you can trade with this company. To learn more about trading conditions which Plus500 has for traders from Australia please read the following article for whom it is dedicated. You can also check out our extensive Plus500 or visit the broker’s website.

 

Is Plus500 authorized in Australia?

Yes, Plus500AU Pty Ltd is licenced by the Australian Securities and Investment Commission (AFSL 417727).

Plus500 Australia Review

Now when we have established that Plus500 welcomes traders from Australia, let’s talk about the trading conditions this broker has prepared for them. First of all, Plus500 features its own in-house built platform where you can as a trader from Australia trade CFDs on forex, commodities, indices, stocks, ETFs, options and cryptocurrencies.

In total, there are over 2 000 trading instruments to choose from (including 97 Australian stocks (e.g. Afterpay Touch Group, Qantas Airways, Woolworths, Crown Resorts, a2 Milk…) and currency pairs tradable against AUD (EURAUD, AUDUSD, AUDCAD, AUDCHF, AUDJPY, AUDNZD, GBPAUD, AUDSGD). To trade all these assets and trading instruments, you can either open a free demo on which you can trade with play money. Or you can open a real account, the Plus500 minimum deposit for Australian traders is AU$200.

Plus500 Spreads

Plus500 spreads differ from instrument to instrument but taking all into account we are not afraid to say that Plus500 has one of the most competitive spreads in the industry. The numbers back up this bold statement themselves.

EUR/USD UD/JPY GBP/USD AUD/USD Bitcoin
0.6 pips 0.7 pips 1.1 pips 0.6 pips $55.01

*Spreads recorded on 31.03.2020 at 12:05 GMT from the trading platform of the broker.

Deposit and withdrawals methods supported by Plus500 in Australia

Plus500 support in almost every jurisdiction these funding methods: Credit and debit cards (Visa, MasterCard), Skrill, Paypal, iDEAL BPAY, Klarna, GiroPay, Trustly, MyBANK and bank transfer. It is recommended to use the same deposit and withdrawal method so Plus500 could easily verify that you are the person who made the deposit. Plus500 does not charge any deposit nor withdrawal fees (* However, they may charge for exceeding the maximum number of monthly withdrawals).

If you are based in Australia and you use an e-wallet to fund your account, it will take only a couple of seconds for funds to appear in your real account (the same goes for e-wallet withdrawals). Wire withdrawals are processed within 24 hours, how long it takes for wire deposits to appear in your Plus500 account depends on your bank. Card deposits appear almost instantly and withdrawals are processed also within 24 hours.

Available leverage for traders from Australia

As mentioned before, traders from Australia can trade on the Plus500 CFDs on forex, stocks, commodities, ETFs, options cryptocurrencies and indices. Here is a table of maximum leverage that is available exclusively to traders from Australia.

Asset category Maximum leverage
Major currency pairs 1:300
Minor and exotic currency pairs 1:300
Stocks 1:300
Cryptocurrencies 1:30
ETFs 1:100
Indices 1:100
Commodities 1:150
Options 1:10

The table was updated on 02.04.2020 for which it is accurate.

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