Plus500

Regulation

The group holds licences across fourteen regulators. Clients from South Africa are served by Plus500AU Pty Ltd, which is authorised by the FSCA as a Financial Services Provider (FSP 47546) under the FAIS Act and also holds an Australian licence (ASIC AFSL 417727). Because the serving entity is FSCA-authorised, an unresolved complaint can be escalated to the FAIS Ombud after the broker's own complaints procedure, a local route that clients in offshore-only markets do not have. As the contracting entity is licensed by ASIC, retail trading follows ASIC-style rules, including the leverage limits below.

Platforms and instruments

Plus500 runs only its proprietary platform, available as a web terminal; there is no MetaTrader 4 or MetaTrader 5. The portfolio covers more than 2,800 CFDs across forex, shares, indices, commodities, options and cryptocurrencies. A free and unlimited demo account and the Plus500 Trading Academy are available.

Trading conditions

Plus500 offers a single retail CFD account with a minimum first deposit of $100. There is no separate commission: the broker is paid through the dynamic buy/sell spread built into the quote. Spreads are dynamic and run around 0.9 pips on EUR/USD, varying with market liquidity. Retail leverage is capped at ASIC-style limits and set per instrument:

An overnight funding fee applies on positions held past the daily cut-off, a currency conversion fee of up to 0.7% on trades in instruments denominated in a currency other than the account currency, a wider spread when a guaranteed stop order is used, and an inactivity fee of up to $10 per month after three months without login. Negative balance protection applies, so the account cannot fall below zero.

Payments for clients from South Africa

The account can be opened in ZAR or USD. Plus500 does not charge deposit or withdrawal fees, although a card issuer or bank may apply its own charge on international card transactions and cross-border transfers.

Withdrawals

Withdrawals follow a return-to-source policy: funds are returned through the method used to deposit. After authorisation, card withdrawals follow each bank's timing, Skrill takes around 3-7 business days and bank transfer 5-7 business days.

Localisation and support

The website, platform interface and educational materials are available in English, the primary language of financial services in South Africa. Support is provided in writing only, through live chat, WhatsApp and email; Plus500 has no call centre and no phone support.

Public sources

Trustpilot: 4.2 out of 5 across 19,295 reviews. In October 2012 the UK FSA fined Plus500UK Limited £205,128 for failing to report transactions accurately and on time. In April 2017 Plus500 reached a €550,000 settlement with Belgium's FSMA for offering CFDs in Belgium without regulatory approval, without admitting guilt. Both actions concerned other group entities and do not directly affect clients from South Africa, who are served by Plus500AU Pty Ltd under ASIC and the FSCA; no enforcement action against that entity has been recorded.