Plus500 Singapore – All you should know

Plus500 does accept traders from Singapore so if you are based there, you can trade with this company. To learn more about trading conditions which Plus500 has for traders from Singapore 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 regulated in Singapore?

Yes, Plus500SG is licensed and regulated by the central bank of Singapore – Monetary Authority of Singapore (License No. CMS100648-1).

Plus500 Singapore Review

Now when we have established that Plus500 welcomes traders from Singapore, 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 Singapore trade CFDs on forex, commodities, indices, stocks, ETFs, options and cryptocurrencies.

In total, there are over 2 000 trading instruments to choose from (including 17 Singaporian stocks – CapitaLand, SingTel, Singapore Airlines, SATS…). 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 traders from Singapore is S$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.

Plus500 deposit and withdrawals methods available in Singapore

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 Singapore 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.

Plus500 bonus available in Singapore

Plus500 offers exclusively to traders from Singapore a first deposit bonus (T&Cs apply).

Minimum Deposit Bonus Amount Required TPoints Bonus Code
S$300 S$80 80 Welcome
S$750 S$200 150 BRONZE
S$1,500 S$300 200 SILVER
S$4,000 S$888 675 FIRST888
S$7,500 S$1,500 1000 GOLD
S$15,000 S$3,000 2500 PLATINUM
S$75,000 S$13,000 10000 DIAMOND
S$400 S$100 75 **
  • Every instrument gives different TPoints (Trader Points) per amount traded (for more information visit Plus500 website)
  • ** This bonus code applies to special bonus promotions only. The special bonus code will be published in the applicable special bonus promotion.

How to Get Rebates from your trading

Every trader based in Singapore can get rebates that are based on his trading activity. Please note, that you can get rebates only within 12 days from your first deposit. You are automatically added to this program and you do not need to activate anything. At the end of the week, once you collect your rebates, a bonus of the same amount is added to your account.

Available leverage for traders from Singapore

As mentioned before, traders from Singapore 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 Singapore.

Asset category Maximum leverage
Major currency pairs 1:20
Minor and exotic currency pairs 1:20
Stocks 1:10
Cryptocurrencies 1:4
ETFs 1:5
Indices 1:20
Commodities 1:5
Options 1:5

The table was updated on 29.03.2020 for which it is accurate.

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