Table of Content
Table of Content
The pros and cons of Plus 500 South Africa
Do you want to start trading online but need help knowing where to start? Plus 500 South Africa is a popular online trading platform that offers users various markets and instruments.
Before making any investment, it is important to weigh the positives and negatives.
In this article, we’ll examine the advantages and disadvantages of Plus 500 South Africa to help you decide if it’s the right choice for you.
Introduction to Plus 500 South Africa
Plus500 is an online CFD broker that offers a wide range of trading assets, including Forex, Cryptocurrencies, and Indices. It also provides ETFs for commodities, shares, ETFs, and Shares. Plus500 is regulated by the Financial Conduct Authority in the UK. The company has offices in Australia, Cyprus, the UK, and Poland.
Plus500 is a CFD provider that was founded in 2008. It has over 320.000 clients. CFDs are offered on forex, commodities, currencies, and other indices.
Plus 500 South African traders use the CFD platform. The company is listed on London Stock Exchange, and multiple regulatory bodies regulate them. It is a trusted CFD platform.
Plus500 has been licensed in South Africa by the FSCA under “Plus500AU Pty Ltd” with license number 47546 since 7/02/2017. Global regulators, including ASIC and CySEC, regulate Plus500A.
What are the risks and benefits?
South Africa has a new opportunity to invest in the Johannesburg Stock Exchange. The investment offers the same advantages as the traditional JSE but also has the potential for higher returns. This investment is not risk-free.
1. South Africa offers investors the chance to earn a better return on their investment if JSE is performing well. Your investment will be worth more if the JSE increases. Your investment will be worth less if the JSE drops.
2. South Africa offers many investment opportunities, including shares, bonds, and real estate. Diversification can reduce risk while increasing your chances of success.
3. South Africa Plus is easy to set up and manage. You can start investing as little as R500 (about $35). Online, you can track your investment progress 24 hours per day.
1. Loss of money is a risk. Plus, South Africa is no exception. If the JSE falls in value, your investment could be worth less than what you paid originally. You could lose all of your investment if the JSE drops dramatically. Before investing, it’s important to understand the risks.
Plus 500 South Africa: Pros and cons
- ASIC is the licensee of Plus500. (AFSL # 417727).
- The CFD trading fee is very low.
- Their minimum deposit starts from $100.
- The proprietary trading platform is easy to use.
- The platform provides a variety of trading tools, such as CFDs on forex, cryptos, and commodities.
- A free Demo Account is available.
- To call the Plus 500 for help, you will need a South African phone number.
- Their education section needs improvement.
How To Maximize Profits With Plus 500 South Africa
If you are looking to make the most of your Plus500 South Africa experience, there are a couple of things that you should know. First, you must ensure that the account type is correct. Plus 500 has two different types of accounts, demo, and Live.
Demo accounts allow you to test Plus 500 South Africa without risking any money. This account type allows you to trade with virtual currency, so there’s no risk. You cannot profit from this account since you can only trade virtual currencies.
Real money can be made on the Live Account. You must first fund the account using real money before you can start trading. You could lose your entire account or part thereof. You should only invest what you can afford.
It would help if you began thinking of ways to maximize your profits after you’ve chosen the right account for you.
You can maximize your profit by using leverage. Leverage allows you to control more than the money in your account. Even minor market fluctuations can result in large profits (or losses).
Regulation & Safety of Funds
Several regulators, including the Australian Securities and Investments Commission and UK Financial Conduct Authority, regulate Plus500. Plus500, a South African forex trading platform trusted by many traders and investors, has been regulated.
Financial Conduct Authority (FCA): Plus500UK Ltd has been regulated by Financial Conduct Authority with reference number 509909 since 2010.
Cyprus Securities Exchange (CySEC) has licensed Plus500CY Limited with the license number 250/14 since 2014.
Australian Securities and Investments Commission (ASIC): Since 2013, P LUS500 has been registered under the Plus500 name with ASIC.
Plus500 provides Negative Balance protection to South African investors. Your losses are limited to the account balance. ASIC requires that funds are held in an account segregated.
Plus500 charges are lower than other online brokers. For example, the company charges a commission of only 0.5% on every trade. Comparatively, the industry average is around 2%. Plus500 doesn’t charge fees on accounts or for inactivity. Plus500 offers a cost-effective option to traders looking for ways to reduce costs.
Plus500 offers no discounts to traders with high trading volumes.
Plus500 does not offer any discounts to traders who trade in high volume.
Plus500 offers no discounts for active traders.
Plus500 has fees comparable with other firms. The need to offer discounts for high-volume traders may disappoint active traders.
Plus500 Customer Support
Plus500 offers 24/7 customer support in multiple languages. Email, Live Chat, Phone, and Telephone are all ways to contact them. Customer service is outstanding. The customer service was excellent. They fixed my issues quickly. Only on weekends are they unavailable.
Plus500 offers a variety of ways for customers to reach out to its customer service, including live chat, WhatsApp, and email. Response time was quick.
The Live Chat Support Is Available In Their Panel. Users who have logged into their accounts can access live chat support.
Plus 500 does not have a local South African number but provides support via WhatsApp. There is a need for local or branch offices.
Contact form or email: Most emails and contact forms will be answered within 24 hours. We used their contact form, and they replied the following day. This is much quicker than other brokers, who can take 48 hours.
Deposits & Withdrawals Options
You will not be charged any fees by Plus 500 for withdrawals or deposits. Your bank may charge you, the payment gateway, or third parties.
You can deposit money in the bank using different methods:
Deposits can be made using a credit card or debit card. The minimum deposit amount is 1500 ZAR. Traders accept MasterCard and VISA cards. Deposits made with a card are activated instantly.
You can transfer funds from your bank account to theirs via wire transfer. The Trading Platform will display your bank information when you select the Deposit option.
Electronic wallets like Skrill and PayPal allow you to deposit at least 1500 ZAR.
You can withdraw your money using the same methods as described here.
You can use your MasterCard or VISA to withdraw funds. You can send them the card details you used to access their website.
When you ask for a withdrawal, your bank information can be emailed.
E-Wallets: If you have an E-Wallet, then it is possible to share the details of your E-Wallet with others.
Customers in South Africa can receive a Bonus.
Your initial deposit will determine the amount of your bonus.
Plus500 is a reputable trading platform for financial instruments.
Plus500 is an online trading platform that allows traders to trade various financial instruments, including forex, stocks, commodities, and more.
Plus500 is regulated by the Cyprus Securities and Exchange Commission, which has its head office in Cyprus.
Plus500 welcomes new traders with a bonus. The bonuses are either free trade credit or cash. You must deposit at least $500 into your account to receive bonus cash. The free trade credit is different because it allows you to trade for an extended period (normally thirty days) without commission.
Consider several factors before deciding if Plus500 is the right choice for you. These factors will be explained so that you can make an informed decision.
Plus500 offers a free demo account that allows you to try the platform without risking any real money.
This is an excellent option for those who wish to test Plus500 or learn more about online trading before committing to a live account.
Those on a tighter budget can access Plus500. A $100 minimum deposit is required.
Plus500 offers a variety of payment methods, including credit/debit cards, PayPal, wire transfers, etc. Easy to fund and start trading.
Plus 500 South AfricaFeatures of safety and security
Trading online is a risky business. As a licensed and regulated broker, Plus500 South Africa protects your money. Plus500 South Africa offers several features to protect your account.
The Negative Balance Protection is one of the features that protect your account. It guarantees you will not lose more than what you have invested. Client money is held in separate banks from company funds. Plus500 South Africa utilizes the most advanced security technology, such as SSL encryption, to protect your personal and financial information.
You can choose from a variety of forex instruments. The most commonly traded instrument is major currency pairs. These are the currencies that are most frequently traded around the world. The most popular are EUR/USD and GBP/USD. There are minor currency pairs that can be traded. Although less common, these pairs offer liquidity and tight spreads. Trading EUR/GBP or GBP/JPY is possible.
Plus500 allows currency traders to use a leverage maximum of 1:30. Plus500 offers a maximum leverage of 1:30 for currency trading. The contract information shows that the spread on major currencies, like EURUSD, is typically 0.8 pip. Spreads are lower with CFD Brokers that offer similar account types.
Currency pairs and other instruments such as silver, gold, oil, and indexes can be traded. Indexes represent markets and sectors through a basket of stocks. S&P 500 is an index of 500 large US corporations.
Both silver and gold are precious metals that many people consider a haven in times of economic uncertainty. Oil, an essential commodity for global economic growth, dominates the forex market.
Tips for Successful Trading on Plus 500 South Africa
Plus500 South Africa is a great option for anyone who wants to begin trading online. It would help if you considered certain factors to ensure your success, as with any form of trading. Here are some tips for trading on Plus500 South Africa.
1. Keep to the plan. Before you start trading, it’s important to have a clear idea of your goals. When you start trading, it’s easy to get caught up in the excitement and make impulsive decisions that don’t match your plan. Stick to your trading plan, and you’ll be more likely to make successful trades.
2. Trading leverage is not recommended. You are borrowing from your broker money to increase potential profits (or losses). This can magnify losses and increase returns if you lose a trade. It would help if you did not put too much capital into any trade.
3. All forms of trading involve risk. You can manage your risk by only investing the money you’re comfortable losing. To minimize losses, set stop-loss orders.
Before making our decision, we have carefully considered the advantages and disadvantages of Plus South Africa. The pros outweigh the cons. South Africa is a great option for those looking to save money on their travels.
Plus 500 South Africa is a fantastic deal for traders of all levels. Some drawbacks include the lack of support for customers and limited payment options. With research and planning, you can easily overcome them. Plus 500 provides a variety of options for trading, with competitive spreads and advanced tools, to those interested in South Africa.
1. What is the Plus 500 Account opening process?
To open a Plus500 account, you must be at least 18 and have a valid ID. You must also fill in your details and choose a username.
2. How do I withdraw money from Plus500?
Traders can request withdrawals by logging into the Plus500 client panel and selecting “Funds Management.” You will see the withdrawal time and method.
3. What is the minimum amount required to open a Plus 500 Account?
A $100 minimum is required to open an account with Plus 500.
4. Plus 500 earns money from selling its products.
Plus 500 makes money by charging a commission for each trade.
5. Does Plus500 fall under the FSCA Regulations?
Plus500AU is a registered financial services provider in South Africa (FSP #486066). Plus500AU is a safe choice for South African traders to trade CFDs. CFD trading involves risk. Before you start trading, it is important to understand all the possible risks.