Option Plus500 South Africa

Plus500 Review: our experience with this broker – Option Plus500 South Africa
Plus500 is an online broker where you can hypothesize with CFDs on cryptocurrencies (Instrument schedule subject to guidelines), Forex and stocks. In this extensive review, we share our experiences with this broker. In our test, Plus500 became an user-friendly broker where you can respond to the current market advancements at low rates. Option Plus500 South Africa.

Option Plus500 South Africa

Benefit Plus500

  • At Plus500 you can hypothesize on rate developments at low rates.
  • You can sell a comprehensive variety of CFD shares.
  • It is possible to attempt Plus500 free of charge with a demo.
  • On Plus500 you can use the user-friendly web trader.
  • Plus500 provides its services in more than 30 various languages.
  • On Plus500 you can begin trading from $100. Option Plus500 South Africa.

 

Disadvantages Plus500

  • Plus500 does not provide sophisticated software application for professional traders.
  • You can not discover substantial analyses within the platform.
  • Plus500 customer care is not readily available by phone.
  • On Plus500 you can only sell CFDs.

Would you like to try the possibilities at Plus500 with a demonstration completely free of charge and without danger? Utilize the button below to open a demo account with this broker:

Option Plus500 South Africa

We talk about the following topics in the Plus500 review:

  • Open account: how can you open an account with Plus500?
  • Deposit cash: how can you deposit and withdraw money?
  • Costs: how much does trading cost on Plus500?
  • Performances: what are the possibilities of the software application?
  • Trading choices: in what securities you trade on Plus500?
  • Assistance: what support do you receive when trading?
  • Costumer service: what is the quality of the costumer service? (costumer-service).
  • Reliability: Is this broker reliable? (reliability).
  • Details: more information about Plus500 (info).
  • Conclusion: the verdict of the Plus500 evaluation (conclusion).

 

Opening an account with Plus500
To do this you must initially go to the Plus500 website. Click here * to open the Plus500 site. To develop a free demonstration account, you just have to pick an email address and a password. It is likewise possible to visit with your Facebook or Google account. After you have left this information, you can immediately begin trading. Option Plus500 South Africa.

Option Plus500 South Africa

Plus500 accepts clients from many countries. There are also nationalities that are not admitted to Plus500. Traders from for instance, America, Brazil, Belgium and Syria are unable to open an account at Plus500 at this moment. Opening a demo-account with Plus500 is possible within clicks. In the evaluation, we therefore give Plus500 a favorable score for opening an account. Option Plus500 South Africa.

 

Deposit & withdraw cash
When you have become knowledgeable about the Plus500 platform, you can change to a real money account at any time. The minimum deposit at Plus500 is $100. You can transfer money into your account by using one of these techniques:

  • Creditcard.
  • Bank transfer.
  • PayPal.
  • Skrill.
  • iDEAL

Prior to your deposit can be processed, you need to validate your identity. Plus500 must abide by legislation and can just receive confirmed consumers. By validating new clients, Plus500 prevents customers from utilizing the represent cash laundering.

Option Plus500 South Africa

We’ve gone through the whole process and uploaded the required documents. Our account was approved and launched by Plus500 within an hour. After verifying the identity of your account, you do not have to do it once again. The length of this procedure depends on your personal circumstance and can be various for each customer.

 

Withdraw cash
You can withdraw the cash into your account at any time. You can do this by transferring the money to your bank account or PayPal account. The transfer is made quickly and the money will remain in your account within a couple of days. Option Plus500 South Africa.

Option Plus500 South Africa

 

On Plus500 there are no extra costs for depositing and withdrawing cash. This is a huge benefit of the broker Plus500: many other brokers charge a small charge for withdrawing money. Traders can benefit from approximately 5 totally free withdrawals a month, after which a cost will be incurred.

Option Plus500 South Africa

Evaluation of the expenses of Plus500
When you begin trading with Plus500, you undoubtedly do not want a big part of your money to be lost to high deal expenses. In this part of the evaluation, we take a comprehensive take a look at the costs of trading with Plus500. Listed below we briefly take a look at which costs Plus500 passes on to its customers.

 

Spread
With Plus500 you pay a spread over every transaction. The spread is the difference between the buy and sell cost of a CFD. Plus500 provides 2 spread systems for its instruments: Dynamic spread which is constantly adjusted according to the market spread during the duration a position is open vs. a Spread which does not normally alter in line with basic market changes while a position is open, however when the market is unstable and illiquid, may change to a new level so that the underlying market conditions are much better shown. Plus500 aims to supply the tightest possible spreads at all times. Option Plus500 South Africa.

 

Forex costs on Plus500
On Plus500 you can trade in different currency pairs. At the time of writing, you are paying 0.6 pips in deal charges on the pair of EUR/ USD. We compared these expenses with those of other service providers and concluded that these costs are comparable to those of other brokers. (We have actually extracted these information on the 2th of June 14:00.).

 

Cryptocurrency costs on Plus500
On Plus500 you can likewise sell cryptocurrencies such as Bitcoin. In our review it emerged that at Plus500 you can trade versus reasonably advantageously fees in Bitcoin CFDs. At Plus500 you pay a spread of $36 at the time of writing while at eToro you pay more than $50 per contract. Trading cryptocurrencies is therefore reasonably helpful at Plus500. (We have actually extracted these data on the 2th of June 14:00.).

 

Share expenses on Plus500
At Plus500 you can also sell shares by using CFDs. As an example: For the CFD share Tesla you presently pay a spread of $ 0.95, which relates to 0.12% of the overall worth. Trading CFD Tesla shares is for that reason possible at a low cost. (Please note that this is a snapshot on April 20, 2020 at 13:00.).

 

Funding expenses at Plus500
With Plus500 you have the alternative to trade on margin. Due to the fact that you can trade on margin, you do not need to put in the full amount of the trading position yourself. You do have to pay a premium for this.

With each security you will see the overnight funding buy and the overnight financing sell costs. Sometimes, you actually get a premium for short positions. We compared Plus500 with other celebrations for this review and the financing costs were relatively low. Still, it is very important to remember that Plus500 is not very suitable for long-term trading because of the funding charges you have to pay on a daily basis. Option Plus500 South Africa.

 

Other costs on Plus500
We have thoroughly investigated the expenses for this evaluation, and we have actually not discovered any annoying concealed costs. Nevertheless, you must ensure that you visit to the platform at least when every 3 months. If you do not do this, expenses for inactivity will be charged. This holds true with a lot of brokers.

Do you have an account with Plus500 and are you not planning to trade for a while? Then it is a good idea to withdraw the money from your account.

 

You can inspect all Charges here:

Plus500 is primarily compensated for its services through the “market spread”. When trading EUR/USD, if the buy rate is 1.12078 then the sell rate would be 1.12072 respectively (which means a market spread of 0.6 pips, in this example). Unlike other provider who likewise charge commissions on each trade, Plus500 does not charge dealing commissions. Option Plus500 South Africa.

The following additional fees might be applied:

Overnight Funding – The over night funding amount is either contributed to or subtracted from your account when holding a position after a specific time (the “Overnight Financing Time”).
The over night financing time and the daily over night funding percentage can be found in the “Particulars” link beside the instrument’s name on the main screen of the platform.

Currency Conversion Fee – Plus500 will charge a Currency Conversion Cost for all trades on instruments denominated in a currency different to the currency of your account.
The Currency Conversion Cost will presently be up to 0.7% of the trade’s understood net profit and loss and reflected in real time into the unrealised net earnings and loss of an open position.

Inactivity Charge – A charge of approximately USD 10 each month will be levied, need to you not visit to your trading represent a period of a minimum of 3 months. This cost will be charged as soon as a month from that moment onwards, as long as no login is made to the account. The lack of exercise charge will amount to the lesser of the remaining offered balance in your account or USD 10 (or comparable depending upon your currency). This is to balance out the cost sustained in making the service offered, despite the fact that it has actually not been utilized. Nevertheless, please note that the fee is just gathered from the Real Cash account and just when there are sufficient available funds in the account. In order to avoid this fee, merely log into your trading account from time to time, as this is deemed sufficient activity to prevent a charge from being charged.

Surefire Stop Order – if you choose this feature, please note that as it ensures that your position (trade) closes at a specific requested rate (rate), the trade undergoes a broader spread.

 

Conclusion Plus500 fees
The costs Plus500 charges are reasonable and in proportion to the quantity you trade with. This makes it possible to trade with a small amount of money. In our post about the expenses on Plus500, we take a closer take a look at the numerous expenses you pay when you trade with Plus500.

Option Plus500 South Africa

Software application & possibilities
When you begin trading, we understand that you naturally likewise wish to utilize a great software package. With Plus500 trading is mainly done through the online WebTrader. A fantastic advantage of the WebTrader is the ease of access: you can visit to the platform at any time and from any place to open or close a position.

What stood out in our evaluation was the user-friendliness of Plus500. The platform looks clear and thanks to the search function you can quickly find the CFD in which you want to trade. New consumers will for that reason not need to browse wish for purchase & sell buttons on Plus500. Option Plus500 South Africa.

 

Opening a trade
Opening a trade with Plus500 is rather uncomplicated. It is important to bear in mind that with Plus500 you always trade in CFDs. With Plus500 you never ever directly sell a share. The only thing that determines your result is the difference in between the cost at which you open and close the position.

When you open a position, you have 2 alternatives. You can buy the CFD or you can go short on the CFD. When you purchase the CFD you get a positive outcome with an increasing cost and when you sell the CFD you get a positive result with a falling rate. Given that you use take advantage of there is a high danger of losing cash rapidly due to take advantage of.

 

The alternative to speculate on a decreasing cost is a significant advantage within the Plus500 platform. The alternative to short sell increases your flexibility and makes it possible to respond to different market scenarios.

 

Kind of orders
With Plus500 you can right away open an order. When you press purchase or sell you will see the screen below:

Option Plus500 South Africa

In the order screen you can enter the amount you want to trade with. You also have the alternative to immediately open or close the position after a specific price has actually been reached. This makes it possible to safeguard you trades when you have to go out. Option Plus500 South Africa.

It is also possible to position an order with Plus500. You do this by entering a price at which you instantly open the CFD position. By using orders, you can achieve even better trading results.

Option Plus500 South Africa

 

Utilize
With Plus500 you have the alternative to apply a leverage. With a lever you can take a larger position with the same quantity of money. Both your potential revenue and your prospective loss boost when you use leverage. With each security you can instantly see what the optimum leverage is that you can apply.

The presence of an utilize is an advantage in the evaluation of Plus500. You can constantly choose to invest with smaller quantities if you want to decrease your threat.

 

Mobile application
On Plus500 you can also trade with the mobile application they offer. The mobile application is less comprehensive than the WebTrader. You can carry out less substantial analyses with it. It is beneficial to likewise install the mobile application. With the app you can get warnings when the cost of a security reaches a particular value.

The mobile application is extremely easy to use and it is good to change your orders when market conditions change substantially. The mobile application is for that reason a strength in our review of the Plus500 platform.

Option Plus500 South Africa

Trading alternatives at Plus500
In this part of the review we will go over the various kinds of securities you can sell with Plus500.

Forex
With Plus500 you can sell CFDs on Forex. When you sell Forex, you speculate on rate modifications in currency sets. You can for example location a trade on the advancement of the euro against the dollar.

Shares
On Plus500 you can also trade in a substantial series of CFD shares. The shares are nicely arranged by nation, so you can quickly discover a share to trade.

Products
It’s likewise possible to sell commodities by utilizing CFDs. The most popular product for trading is oil. You can typically apply an optimum utilize of as much as 1:20 to financial investments in basic materials. When you trade in gold you can apply an utilize of 1:20.

Options
On Plus500 you can also sell CFDs on choices. Alternatives often move highly: an option can sometimes rise or fall in worth by 10s of percent. With CFDs you can apply a leverage of up to 1:20 to options, which even more increases your prospective gains or losses.

Indices or ETFs
On Plus500 you can also trade in CFDs on popular indexes or ETFs. You can for instance trade in the Dow Jones or NASDAQ index trackers.


Cryptocurrencies

At Plus500 you can also trade with CFDs in the most popular cryptocurrencies. Cryptocurrencies are very unstable and it can therefore be interesting to actively speculate on their price advancements. Among the most popular cryptocurrencies to trade in is the Bitcoin. (” Instrument accessibility subject to guidelines”). Option Plus500 South Africa.


Conclusion on the trading choices at Plus500

Plus500 has a vast array of tradable CFD securities. Even relatively unidentified local stocks can typically be discovered on the Plus500 platform. This makes Plus500 an attractive broker for financiers from all countries. My experience with Plus50 has actually therefore been very positive.

 

Assistance & research
In this part of the evaluation, we investigate how Plus500 supports traders.

 

Technical analyses
At Plus500 you can perform technical analyses on the graphs. Within the software application you can use various illustration choices. You can draw horizontal levels to show price levels where the market often relocates the opposing direction.

Option Plus500 South Africa

You can likewise add technical indicators on the chart. The series of technical indicators at Plus500 is massive. You can choose from more than 100 different alternatives. It is a good idea to utilize technical indicators. By using technical indicators, you can execute better analyses.

Option Plus500 South Africa

The technical analysis choices within the Plus500 software application are extensive. Nevertheless, it is troublesome that you can not save multiple charts. This means that you need to repeat the evaluates routinely. Professional investors would have to download other programs to perform more complex analyses.

 

Research study and education
In this review we can be fast about the possibilities of research study and education: at Plus500 these choices are totally missing. There are no courses or webinars offered at Plus500. This is a drawback for individuals who join Plus500 to find out how to trade better.

It is useful that you get an alert within the Plus500 software application when intriguing developments take place. When the rate of, for example, oil falls dramatically, you will receive a notice of this occasion. You can then decide for yourself whether you want to take a position on the marketplace advancement. Option Plus500 South Africa.

Within the Plus500 software application you can likewise see how other users trade in a security. By taking a look at the positions other traders take, you can see whether there are more purchasers or sellers. Other essential information is missing with Plus500 platform. Plus500 does not score well in the field of research and education in our viewpoint.

 

Customer support
Plus500 has a detailed and fast customer support that is readily available in more than 30 languages. Your problems can be fixed rapidly in your language.

It is recommended to contact customer service by means of live chat. You can utilize the live chat button within the Plus500 WebTrader. By utilizing the live chat, your problems can be solved practically immediately.

It is likewise possible to email Plus500. Mails are typically addressed within a day. It is a pity that no phone number is readily available. This makes it difficult to speak straight to someone. Due to the quick processing time, Plus500 still ratings sufficiently in terms of client service. Option Plus500 South Africa.

Option Plus500 South Africa

 

Security & dependability
Prior to you deposit cash with a business, you naturally want to know that it is completely protected to do so. In this part of the review, we take a look at how trusted Plus500 is.

Regulation
Supervisors ensure that brokers abide by the rules. Plus500 is monitored by:

  • Plus500UK Ltd authorized & controlled by the FCA (# 509909).
  • Plus500CY Ltd authorized & controlled by the CySEC (# 250/14).
  • Plus500SG Pte Ltd, accredited by MAS (#CMS 100648-1) and IE Singapore (#PLUS/ CBL/2018).
  • Plus500AU Pty Ltd (ACN 153301681), accredited by: ASIC in Australia, AFSL # 417727, FMA in New Zealand, FSP # 486026; licensed monetary service provider in South Africa, FSP # 47546.

Security of your deposits
Depending upon your citizenship, you take pleasure in additional protection if Plus500 declares bankruptcy. This is done through a so-called financier protection fund. All customer funds are held in a segregated customer savings account in accordance with the Cyprus Securities and Exchange Commission’s (CySEC).

Plus500 has actually likewise set a number of additional guidelines to make sure that your money is as safe and secure as possible on Plus500. Listed below you can find a summary of these measurements:

Option Plus500 South Africa

Plus500 will never ever speculate with customers’ money. All funds are kept in a different savings account, which implies that this money is secure when unanticipated things happen with Plus500. And last but not least, on Plus500 you are secured against an unfavorable balance, because he Negative balance protection is a regulative requirement for all EU brokers. When you trade with Plus500, you can never ever be left with a residual debt. Option Plus500 South Africa.

 

Conclusion reliability
Plus500 is 100% no scam. Plus500 safely manages customer properties. The company is likewise supervised. Plus500 has been around given that 2008 and is even listed on the London stock market. These are all great signs that Plus500 is reliable and we have actually concerned that conclusion ourselves.

Option Plus500 South Africa

About the business
Plus500 was founded in 2008 and has actually grown strongly since then. Plus500 is active in more than 30 nations and served more than 200,000 active customers in 2019. Plus500 executed over 35 million transactions with a worth of over $1,000 billion in one year. The headquarters of the company can be discovered in Israel, however they have opened a number of extra offices in other countries. Do you would like to know more about the Plus500 business? In this post you will find whatever you need to understand!

Option Plus500 South Africa

Conclusion review Plus500
Plus500 is one of the very best CFD brokers. With Plus500 you can actively trade CFDs on all known shares and cryptocurrencies by using the user-friendly software. On Plus500 you can trade at low rates. You likewise have the opportunity to respond to altering market conditions by placing orders on both rising and falling costs. Option Plus500 South Africa.

Do you want to discover how Plus500 works? Immediately open a free demo-account by pushing the button listed below: