Plus500 South Africa – All you should know

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.

 

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 when 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

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 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.

Does Plus500 offer any bonuses to traders from South Africa?

Yes, exclusively to traders from South Africa, Plus500 offers a first deposit bonus (T&Cs apply).

Minimum Deposit Bonus Amount Required TPoints Bonus Code
R 4 000 R 850 80 Welcome
R 10 000 R 1 000 150 BRONZE
R 20 000 R 1 600 200 SILVER
R 100 000 R 8 000 1000 GOLD
R 200 000 R 20 000 2500 PLATINUM
R 1 000 000 R 70 000 10000 DIAMOND
R 5 000 R 1 000 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.

Available leverage for traders from South Africa

As mentioned before, traders from South Africa 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 South Africa.

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 01.04.2020 for which it is accurate.

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