Plus500 is a veteran CFD provider, founded back in 2008. By focusing their market offering on contracts for difference (CFDs), they allow traders to take advantage of price movements in a range of markets and asset classes.  Whether it’s the standard Forex, commodities and indices markets, or the more advanced ETFs, options and cryptocurrency markets, Plus500 grants access to them all.

If you’re interested in following more than just CFDs on the Forex markets, then keep reading our Plus500 review. See why the Plus500 trading app is one of the highest-rated on both Apple’s App Store and the Google Play Store.

You can find our transparent Plus500 review below. Broker reviews are updated frequently!

Plus500 Review by TradeFX Homepage Screenshot

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  • Multi-Regulated

  • 24/7 Support

  • 2000 Instruments

  • Islamic Account

  • Tight Spreads

  • Broker Verified


  • No MetaTrader 4

  • No MetaTrader 5

  • Low Leverage

Plus500 Regulation

Plus500 is one of the most highly regulated CFD providers in the industry.

The fact that they’ve expanded as a company into multiple continents and taken the initiative to seek regulation from major bodies bodes well for South African Forex traders looking for a provider that they can trust.

Listed below are Plus500AU Pty Ltd (ACN 153301681) regulation details:

  • Plus500AU Pty Ltd (ACN 153301681), licensed by ASIC in Australia, AFSL #417727
  • FMA in New Zealand, FSP #486026
  • Authorised Financial Services Provider in South Africa, FSP #47546

You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.

3.7 stars from 205 ratings


Plus500 provide traders with fast and reliable order execution. Enjoy tight spreads with zero commissions. Enjoy 24/7 supp...

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CFD service. Your capital is at risk.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.

Plus500 CFD Type

Plus500, as a market maker, do act as your counterparty, taking the opposite side of all their clients’ trades. This should not concern you, as you receive fair trading conditions.

Plus500’s spreads may be more extensive than an ECN broker, but they’re dynamic, and clients pay zero commissions – The most significant advantage of a market maker.

While some market makers have a poor reputation, Plus500 is highly regulated and one of the leading providers within this type.


As we’ve just spoken about, Plus500 execute their trades through an internal dealing desk.

They transfer all client orders, in an automated fashion, through the Plus500 dealing desk. They execute all requested orders at dynamic spreads and zero commissions.

By running a dealing desk, Plus500 can manage its own risk just like you’re doing as you’re learning to trade different instruments.

The advantage of a market maker like Plus500 can best be seen during times of low liquidity when the underlying market thins out considerably, and an ECN broker is forced to widen the spreads.

By taking the other side of all trades, Plus500 can keep their spreads tight to a reasonable degree.

We suggest comparing each CFD broker we’ve reviewed on a demo to test how each executes trades during all market conditions.

Forex Trading Education

Plus 500’s education section under the ‘Trader’s Guide’ section of their website, is quite limited.

It focuses on teaching you how to use their trading platform rather than specific market terms or strategies.

You’re still able to browse videos that answer basic questions like what is CFD trading, but the focus is on how to trade with Plus500.

Plus500, unfortunately, doesn’t have the in-depth trading courses and market analysis sections that other Forex or CFD providers have.

If you’re a South African Forex enthusiast who’s entirely new to this space, you may want to consider a third-party Forex education provider that does not link to your broker.

Plus500 Support

When it comes to customer support, Plus500 has the following contact channels available to clients.

  • FAQ: Available Monday – Sunday, 24/7
  • Email (via a web form): Available Monday – Sunday, 24/7
  • Whatsapp – Monday – Sunday, 24/7
  • Live Chat – Available Monday – Sunday, 24/7

It is disappointing that clients will be directed to the FAQ section when clicking on the live chat option at first. From there the live chat option is available and you can chat with a support agent. Their FAQ is very detailed and will answer most queries clients might have.

Email support allows for detailed correspondence, which is handy for significant issues that potentially require the regulator to step in if you cannot reach an agreement.

Plus500 Deposits and Withdrawals

Plus500 offers its clients several base account currencies, as well as deposit and withdrawal methods.

South African traders have a choice between ZAR or USD, making them a simple option for new traders who don’t need the hassle of figuring out rates or paying fees to your bank for conversions. The minimum deposit in ZAR is equivalent to USD 100 at the time of making your deposit.

  • Credit/Debit Card: Visa and Mastercard funding options, with your funds available to trade instantly.
  • Bank Wire Transfer: Allow up to 2-3 business days for wire-transferred funds to be available in your account, although sometimes they arrive sooner.
  • Skrill: The popular e-wallet is available to South African traders who would prefer to keep their bank and card details private.
  • PayPal: PayPal is another alternative e-wallet that allows you to keep a privacy buffer between yourself and Plus500.

They charge no fees to fund your Plus500 account, across any of the above payment options.

Plus500 also has free withdrawals for the first 5 in any month, with any after that incurring a processing fee. However, as a regulated provider is holding your funds, there isn’t any need to withdraw multiple times per month.

Plus500 Trading Conditions

Plus500 in South Africa has many exciting risk management tools that are worth highlighting within the trading conditions section of this provider review.

  • Close at Profit [Limit] and Close at Loss: A stop loss and take profit feature.
  • Guaranteed stop-loss trading: The above stop orders feature a guaranteed, no slippage feature. (Guaranteed stop is only available for some instruments)
  • Trailing Stop: The ability to allow winning trades to run with strong trends.

Demo Account

They offer the choice of a demo account within their initial registration process.

A nice feature of Plus500 is that they easily allow live traders to switch between real money and demo mode from a simple button on the platform’s main screen or the trading app’s menu.

Once your demo account incurs a margin call, as if it would on a live account, Plus500 will save you the time of repeating the sign-up process and automatically reset your demo account. This way they keep things simple.


They offer leverage to South African traders of up to 1:30, which is becoming the new standard.

For them to upgrade its Australian customers to a Pro Account, clients must provide customer support with an Accountants certificate certifying that their income for the last 2 financial years was at least AU$250,000 or that you have net assets of AU$2.5 M. If you are a South African citizen this does not apply.

Spreads and Lot Sizes

As spoken about above, Plus500 offers dynamic spreads across all of their CFD trading markets. They are constantly adjusted to the market conditions and for that reason, are subject to change.

The minimum trading size can vary depending on the type of instrument you are trading with. Each instrument has a defined “Unit Amount”, which is the minimum size of trade or number of contracts/shares etc. to open a position. They do not measure the trading size in lots being mini, micro, or standard.

These are average spreads found on the day of testing their platform. The spreads you experience may be significantly different depending on market conditions and other variables. Spread amounts depend on the trading instrument and are constantly adjusted according to the market spread

Account Types

When it comes to account types, they keep things simple with just one for all traders.

This means everyone is on an equal level in terms of tools and spreads. The only differentiation would be leverage for the professional traders.

If you choose to open an account with Plus500, the process is quick and straightforward. If the timezones match up with local office hours and you have all of your identity documentation handy, this can be as quick as the same day.

Plus500 Trading Platforms

Following on from Plus500’s single account type, they also have just one trading platform.

They treat every client equally, with the same platform features available to everyone.

The minimalistic designed web-based trading platform is simple to use even for the rookie trader.

Some South African traders may, however, see their lack of MetaTrader 4 (MT4) as a significant drawback. If you prefer to trade on MetaTrader 4, then please view our other Forex broker reviews for MT4 brokers.

Plus500 IB Affiliate Program

The Plus500 affiliate program is undoubtedly one of the higher paid programs, with CPA payments of up to $800.

As a large, well known global CFD trading brand, their marketing solutions help you maximise your referral potential.

They offer personal support and guidance for affiliates, treating the relationship as a true partnership where they want to help your business succeed just as much as they want you to promote theirs.

To achieve this, you’re assigned a personal affiliate manager with who you’re able to work to obtain your affiliate marketing goals.

To become an affiliate, simply contact them using the email form on their website, and the process can begin immediately.

Join the Plus500 IB Affiliate Program: Join Now & Earn

PLus500 in South Africa

What does Plus500 in South Africa bring to the SA marketplace? One highlight that sums it up as a South African trader.

They are well regulated and focus on an ethical approach to trading, making clients aware of the risk involved, enforcing low leverage.

3.7 stars from 205 ratings


Plus500 provide traders with fast and reliable order execution. Enjoy tight spreads with zero commissions. Enjoy 24/7 supp...

Sign upSign up
CFD service. Your capital is at risk.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.

Plus500 Review Summary

Our comprehensive review has gone over the key features you must know before choosing to open an account with any Forex or CFD provider.

They are a leading provider that offers the ability to trade across a wide range of markets and asset classes through CFDs. Listing on the London Stock Exchange as well, they are an intelligent choice.

They are a perfect choice for professional traders looking for a highly regulated entity you’re able to trust with large account sizes.

The Plus500 platform is suitable for experienced traders only. Though they are a very user-friendly platform, CFDs are “complex financial products”, thus the platform is not suitable for beginners/ un-experienced traders. Practice your trading skills with their free, unlimited demo.

We value your feedback: Rate this broker by leaving a comment and rating below this review.

CFD service. your capital is at risk

Broker FAQ

Thinking of Trading with Plus500?

Which type of assets can I trade with Plus500?


What platforms does Plus500 support?

Plus500 proprietary platform.

Are Plus500 platforms mobile friendly?

Yes, they are available on Android and IOS.

What leverage does Plus500 offer?

Plus500 offers maximum leverage of 1:30.

What is the lowest spread I can expect with Plus500?

The lowest spread is typically on the EUR/USD at 0.8 pips.

Does Plus500 offer commission-free trading?

Yes. No commissions are charged upon trade execution.

Is Plus500 FSCA Regulated?

Yes. Plus500 is FSCA regulated. FSP#47546.

What is the minimum deposit to open a Plus500 account?

Plus500 has a minimum deposit of USD 100 as a first-time deposit.

When was Plus500 founded?


What account currencies does Plus500 offer?


Which deposit options does Plus500 offer?

Credit/Debit Card, Skrill, PayPal, Bank Wire Transfer.

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Plus500 provide traders with fast and reliable order execution. Enjoy tight spreads with zero commissions. Enjoy 24/7 support.

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