75/100
Rating
Plus500 Crypto
*****
Go to Plus500 Crypto
Highlights
  • Simple to use trading platform
  • Great for novice crypto traders
  • Big choice of CFD markets

Crypto Trading Plus500 Review South Africa 2021

Plus500 is an Israeli based CFD service that has been on the scene since 2008. The service has licenses for Australia, New Zealand and South Africa.

Our Plus500 review found that they offer competitive pricing when compared to other CFD services but the lack of tools for both research and education made it quite difficult to find all the necessary data.

Plus500 delivers just about all that is promised on the site and you will find that the Platform manages to bring a professional, easy-to-use service.

plus500 crypto review
Pros & Cons of Plus500
  • Easy-to-use platform
  • Wide range of CFD markets available
  • Well licensed and regulated
  • Fewer trading tools than competitors

Security, Usability, Look & Feel - Our Plus500 review

Our Plus500 review 2021 considers security and site quality as one of the most important aspects of any broker’s service. Any funds deposited with Plus 500 are held in a segregated trust account which is in accordance with the regulations set by the Financial Sector Conduct Authority. The FSCA ensures that all brokers maintain a certain level of security before they are allowed to operate within South Africa. Plus500 also ensures that no client money is used for any investment or business purposes. Be sure to check out the client money protection section of their website, as well as the risk disclosure notice to completely understand exactly what is done to ensure you are transacting safely.

75/100
Rating
Plus500 Highlights
  • Simple to use trading platform
  • Great for novice crypto traders
  • Big choice of CFD markets
Go to Plus500

The webpage put on offer by Plus500 is certainly among the best on the market. It has a fairly modern layout which makes it easy-to-use for customers of any age. You will be able to find all the relevant information fairly quickly. The light and inviting design of the website also makes it much easier to read all the information and navigate the page. Finally, the website is secured by SSL encryption and there is a very limited amount of clutter within each section allowing the pages to load very quickly.

How to Trade – A guide to Plus500 crypto trading

With all this information in hand, you will most likely have made up your mind to use the service or not. If you are itching to open an account and begin trading some Plus500 Bitcoin, then you will most likely have to complete a few steps first. To trade crypto on Plus500 is relatively easy, and this true for their other instruments as well. You will firstly need to register for the service that is being provided. This can be done by clicking the ‘Start Trading’ button in the top right of their page. You will then have to insert all of your details to create an account with Plus500. Once your details have been submitted, you will receive an email to confirm your email address, make sure to do this as it comes through.

Once your email address is confirmed, you will need to go through some sort of verification procedure which usually requires submitting a copy of your ID to ensure your account is legitimate. With a verified account, you will then need to choose your specific payment method before you can make transactions with Plus500. These methods have been covered in the payment section of the Plus500 review. A deposit has to be made satisfying the minimum deposit requirement and after the processing time linked to your deposit method has passed, the funds will be credited on your Plus500 account to be used on the trading platform.

Company
CompanyPlus500 Ltd
HeadquarterArch. Makarios III Avenue ,Cedars Oasis Tower, Floor 1 ,3027 Limassol ,Cyprus
Year of Founding2008
CEODavid Zruia
Web Sitewww.plus500.com
Available LanguagesGerman, French, English, Italian, Spanish, Russian, Polish, Dutch, Swedish, Portugese, Norwegian
Customer SupportLive Chat, Email Support
Email[email protected]
Phone+972-4-824-1220
Licence
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
PayPal
Klarna
Credit Card
Bank Transfer
Skrill
Giropay
+
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Payments - What payment methods are available at Plus500?

Having a range of payment methods available ensures that customers from anywhere can transact easily with their online service. Our Plus500 review found that the majority of South African banks were covered for bank transfers, however, this will result in a processing time before your money will be credited to your Plus500 account. Customers can also make use of their credit/debit cards, Skrill and PayPal to top up their accounts.

PayPal
Klarna
Credit Card
Bank Transfer
Skrill
+ 2

The fees incurred with each payment method will differ significantly and the charge will always be listed on your withdrawal receipt. There is no fee applicable for deposits, but there is a minimum deposit amount that will also be displayed once you have chosen your preferred payment method. The minimum withdrawal amount for bank transfer is $100USD. PayPal and Skrill users will be able to withdraw any amount in excess of $50USD.

Customer Service - What is the customer support like at Plus500?

Another crucial section of our Plus 500 Review South Africa would be the customer service that they have put on offer for their clients. Any trader, experienced or new, is bound to run into some trouble at some point with the service or you might just have a query. To satisfy customers and keep up with competition, most brokers offer Plenty of methods of contact and try to sort through any issues as quickly as possible.

With Plus500, you will find an extensive FAQ that has been put together which will most likely include the issue or query that you may have. If the FAQ section does not solve your problem, there is also a dedicated support email address that can be used to detail your issue. Unfortunately, with no dedicated headquarters in South Africa, you are unable to contact the broker via telephone. A live chat feature is also definitely necessary if Plus500 wants to be considered amongst the best in S.A.

License & Security - Is Plus500 secure?

When you sign up with any broker, the first consideration you will need to make is whether or not the broker is safe. The majority of industry leaders will clearly display their licensing and security methods that are put in place clearly on their website. When it comes to Plus500 crypto trading, the headquarters are located in Israel and the company has many subsidiaries which are based in the UK, Cyprus, Australia, Singapore and Bulgaria. This global presence should be testament to the legitimacy of the service.

CySEC - Cyprus Securities and Exchange Commission
FCA - Financial Conduct Authority
ASIC - Australian Securities and Investments Commission
FMA - Financial Markets Authority
FSCA - South African Financial Sector Conduct Authority
+ 2

In each of these countries, Plus500 has managed to obtain the necessary licenses to ensure that they are allowed to legally operate. In South Africa, Plus500 is licensed as an Authorized Financial Services Provider, which is awarded by the Financial Sector Conduct Authority. This is the standard license that is required for any company to operate as a financial service provider in South Africa. With this license, Plus500 has to comply with the relevant client money regulations set by the FSCA and this includes the protection of client money. The details surrounding the security measures can be found on their Client Money Protection page. To get an idea of how this competes with other big brokers, check out our BDSwiss crypto page.

Reputation and Customer Feedback – Opinions on Plus500

Our Plus500 review 2021 found that the company maintains a global presence and their reputation is good within the countries that they operate in. That being said, the majority of online services are subject to harsh criticism and reviews. If you search the internet for customer experiences, you are bound to find a large number of negative reviews, however, it seems that the Plus500 service team has been taking some steps to boost their customer feedback by responding to external queries and reviews.

Plus500 Crypto

Cryptocurrencies - What is on offer at Plus500?

One of the fastest growing trends in the financial industry would be investing in crypto markets. Our Plus500 crypto review takes an in-depth look at what services they have to offer when it comes to trading cryptocurrencies. Plus500 crypto South Africa users will be glad to know that the service offers a comprehensive package including the majority of cryptocurrencies that are globally available.

75/100
Rating
Plus500 Highlights
  • Simple to use trading platform
  • Great for novice crypto traders
  • Big choice of CFD markets
Go to Plus500

Plus500 crypto offers customers the opportunity to buy or sell cryptocurrency CFDs. The service is available 24/7 and includes Bitcoin, Ethereum, Crypto 10 Index, Litecoin, NEO, IOTA, Stellar, EOS, Bitcoin Cash ABC, Cardano, Tron and Monero. The Plus 500 crypto headquarters are based in Sydney and have also been approved as an Authorised Financial Services Provider. All customers will be able to trade with up to 1:30 leverage and there is no need for any exchange account. A price stop and price alert can be set to also manage the risk of crypto investments. It is important to remember that you will not own or have any rights to the underlying assets. To further understand this, take a look through the Plus 500 crypto terms and conditions. To take a look at another broker offering crypto trading opportunities, head to our eToro review.

Fees - Are there any Plus500 fees?

A broker will make the majority of its income from the fees that are charged for their service. The industry is fairly competitive so there is always a price battle between the most reputable brokers and it’s important to keep an eye out for the best offer on the market.

The currency conversion fee is set at 0.5% of the transaction’s realised net profit and loss. It is stated that the fees will always be clearly displayed, so be aware of the receipt when transacting. When you request a withdrawal to a bank account, there is also a charge of $6USD that will come into effect for bank processing charges. Closed accounts will also have to pay a fee of $10USD when gathering any funds left on the account. There are also fees applicable for inactivity, guaranteed stop orders and overnight funding. To find out how these fees compare to other brokers in the industry, head to our XTB crypto page.

Jurisdictions and Limits - Some limits found in our Plus500 crypto review

It is always important to know exactly what you are in for when signing up with a broker and transacting for their services. You can never be too careful and the majority of reputable bookmakers will have a range of licenses and safety methods in Place to protect customers. First and foremost, our Plus500 review South Africa found that they are licensed as an Authorised Financial Services Provider with a license number of #47546.

75/100
Rating
Plus500 Highlights
  • Simple to use trading platform
  • Great for novice crypto traders
  • Big choice of CFD markets
Go to Plus500

As with any broker, you will also be limited when making use of their services. You may only complete five withdrawals from your Trading Account each month and thereafter you will most likely be charged $10USD to make any other withdrawals for that month. There is also a minimum limit set on each transaction and this will depend on the unit amount relative to the trade you are trying to complete.

Other Trading - More than just Plus500 crypto trading

As with any broker on the market, you won’t simPly be limited to trading within the crypto markets. Many brokers try to offer as broad a range of opportunities as possible in order to attract customers from all over. Whether you are interested in foreign exchange or exchange traded funds, there should be an option for each with most of the reputable brokers on the market. The options available from each broker is an important aspect of our review process and we take a close look at exactly what is on offer.

The Plus500 review 2021 found that crypto trading was available, alongside indices, forex, commodities, shares, options and ETFs. The scope of instruments is very impressive when compared to the industry standard. Customers will definitely have the lion’s share of instruments to take advantage of with Plus500. The Platform available to make use of these instruments is very intuitive for each of them and just about any customer will be able to trade with ease. To compare just how the instruments offered from Plus500 compares, be sure to check out our Forex.com review where we have replicated our review process with another reputable broker on the market.

Be sure to try out the free demo before you commit to investing big bucks. To get down to the basics of crypto markets, head to our crypto trading homepage to find all the necessary details.

75/100
Rating
Plus500 Highlights
  • Simple to use trading platform
  • Great for novice crypto traders
  • Big choice of CFD markets
Go to Plus500

Overall Conclusion - A big-name provider in South Africa

In conclusion, our Plus500 crypto review found the operator to be among the big names of the financial service provider industry. Plus500 crypto South Africa is accessible to just about any customer who verifies their account and satisfies all the terms and conditions. The website design and platform are of a high standard and this makes the service easy to use for just about anyone. The relevant licenses have been obtained and security measures are in place to protect your funds. If you would like to take a look at another reputable broker review, head to our FPMarkets crypto page.

75/100
Rating
Plus500 Crypto
*****
Go to Plus500 Crypto
Highlights
  • Simple to use trading platform
  • Great for novice crypto traders
  • Big choice of CFD markets

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