Plus500 does not offer binary options – only Forex / CFDs trading
Plus500 is almost a household name when it comes to financial trading. This popular broker has a great portfolio that includes numerous types of trading like CFDs, forex, options, ETFs, commodities, stocks etc. Such variety is a rare characteristic, and traders will be happy to find all these fantastic trading types in one place. This also makes trading much more approachable, as users don’t need to trade with multiple brokers at the same time. The great news is that Plus500 accepts accounts from South Africa and is registered with FSP in the country.
Our Plus500 review, as always, gives traders more information on what it looks like to trade with this popular broker. Find out about Plus500 features, software, customer support, deposits, and withdrawals.
Plus500 Trading Accounts
Plus500 is quite straightforward and traders will be surprised by this amazing combination of quality and modern technology with user-friendliness. Plus500 website is supported in record 31 languages. There is a high chance that you will be able to find out all the info you need in your mother tongue. The registration process is also straightforward – just click the ‘Start Trading’ button and follow the steps explained on the website.
Plus500 offers two account types:
- Demo account
- Live Account
Plus500 Demo Account
Plus500 demo account is a nifty feature every trader should use. During the registration process, every trader can select to use a demo account first. The demo account is basically the perfect copy of live trading account with one big exception – you don’t trade your own money, but get assigned 100.000 virtual money that you can use to explore the Plus500 platform and forex trading. Traders don’t have to deposit to open a demo account, as it is completely free!
Plus500 Live Account
Plus500 Live account is used for trading with real money and requires the minimum deposit, but that is not all. Traders have to fill out the registration form and answer a quiz about trading. Plus500 complies with regulations and finds it crucial that every trader understands trading basicas before making a real investment. This is also one reason more to start with a demo.
Traders should also understand the fact that when trading with Plus500, they never own the asset, but place the trade based on the price of the underlying asset. This type of trading definitely made financial markets more approachable.
Plus500 review account info:
- no commissions are charged
- maximum leverage the trader can use is 1:300
- spreads start at 0.8 pips.
Plus500 CFDs Trading Software and Underlying Assets
Plus500 offers an amazing web-based platform. This means that it is possible to access the trading account with only your login data. Traders don’t have to download any software and do complicated installations. Web-based platforms are very convenient for traders of all generations, as they don’t require any computer knowledge to be used.
Plus500 App Download
There sno need to download the Plus500 platform to your computer. everything works from the browser. The Plus500 mobile app is available to download from respective app stores.
Once traders enter the trading platform they will immediately notice the trading charts that can be used for following market fluctuations. There is also a complete list of assets. If you are interested in particular assets, use the filter feature or even some other features that immediately show you the most popular assets, as well as assets that are on the rise. These filters are called ‘Most popular’ and ‘ Risers and Fallers’. Traders can also create a special list of their favorite and most traded assets. Other features support more basic filtering based on the type of the underlying asset.
Forex pairs including South African Rand include USD/ZAR, GBP/ZAR while it also allows as one of the first, cryptocurrencies CFD trading in South Africa.
Plus500 Cryptocurrencies CFDs
- Bitcoin Cash
Plus500 review showed how the selection of assets is quite impressive, and CFDs traders won’t be limited in any way. They can find stocks, forex, indices, commodities, options as well as ETFs. There are also additional lists according to different asset preferences such as countries etc., for even more sophisticated navigation among markets and assets.
Plus500 Customer Support Review
Plus500 offers very good customer support that is very responsive. Traders can use live chat that is accessible directly from the website thanks to a small pop up window. Customer support agents work 24/7. If you are not in the mood for a chat or are avid email user, you can write them thanks to the support email.
For traders who prefer to find answers on their own, there is a FAQ section. Plus500 listed most common questions and answers, for all traders to read.
Plus500 Deposit and Withdrawal
Deposits and withdrawals are essential parts of trading. Without a deposit, the trade cannot be executed, and without the withdrawal, it is impossible to enjoy the fruits of your work. Plus500 has pretty reasonable depositing and withdrawal terms and they also offer a great variety of methods.
If you want to make a deposit or withdraw money, visit your profile and find ‘Funds management’ option. Click it and proceed with either depositing or withdrawing. Then, just follow the guidelines provided by Plus500. Plus500 limits the minimum deposit to $100 (or equivalent amount in other currency offered).
Traders can select one of the following methods:
- Credit cards
- Debit cards
Traders must understand how not all depositing and withdrawing methods are not available in all countries, but depend on your geolocation due to local regulations and laws.
Technically speaking, withdrawals are executed the same way. It usually takes one day for the request to be processed, but bear in mind how it may take longer for the money to be visible on your account due to your bank’s policies or e-wallet terms and conditions.
When it comes to their legal status, Plus500 is a regulated broker on several levels:
Plus500UK Ltd – FCA license (FRN 509909)
Plus500CY Ltd – CySEC license
Plus500AU – ASIC license
Plus500 also holds FSP license from New Zealand and FSP license from South Africa. When a broker has as many licenses as this, it gives traders the opportunity to trade in a locally regulated environment, which is always an added benefit.
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