Plus500 does accept traders from South Africa so if you are based there, you can trade with this company. To learn more about trading conditions which Plus500 has for traders from South Africa please read the following article for whom it is dedicated. You can also check out our extensive Plus500 or visit the broker’s website.
|Broker||Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader's deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia.||Min. deposit||Trading platform A trading platform is a computer or mobile software program used to execute transactions within the financial markets.||Demo||Special features A list of features that provide a given broker with a competitive edge.||Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.|
|ASICCySECFCA||$100||In-house built platform||€10,000 Free Practice Account||
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Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for some investors. Please ensure you fully understand the risks involved.
Is Plus500 authorized in South Africa?
Yes, Plus500AU Pty Ltd, AFSL 417727 is an Authorised Financial Services Provider FSP #47546 in South Africa.
Plus500 South Africa
Now that we have established that Plus500 welcomes traders from South Africa, 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 South Africa trade CFDs on forex, commodities, indices, stocks, ETFs, options and cryptocurrencies.
In total, there are over 2 000 trading instruments to choose from (including 23 South African stocks (e.g. Sasol, MTN Group, Capitec Bank, Shoprite, Impala Platinum…) and currency pairs tradable against ZAR (EURZAR, GBPZAR, USDZAR). 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, Plus500 minimum deposit for South African traders is 1500 ZAR.
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.
|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 South Africa
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 South Africa 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.