When talk about CFD trading in South Africa Plus500 comes in mind first of all. It offers CFD trading not only for forex but also for commodities, indices, cryptocurrencies and much more other options. This diversity and reliability attract the users towards it. Let’s have look into its attractive features which are getting love of people especially from South Africa.
Regulated with FSP
The main factor in popularity of Plus500 in South Africa is its licensing with FSP (Financial Service Provider) since 2017 as “Plus500AU Pty Ltd” and its license number is 47546. Its reliability is contributed by its licensing by other financial regulatory bodies in the world. It is also listed in London Stock Exchange and accepts South African traders for CFD trading. Global regulators such as FSP, FCA (UK), CYSEC and ASIC (Australia) also regulate them. All this adds to its reliability.
Protection for investors
Plus500 provides safety measures for South African traders which protects them from total loss. It offers two types of protections; one is negative balance protection and other is Guaranteed Stop on CFD. Both the tools help the traders for limiting the risk factor in their trades. Negative balance protection keeps the traders safe from losses exceeding their account balance. It means their balance never goes in minus even if they lose the trade.
While the Guaranteed Stop lets the order being closed at a set or guaranteed price and keep the trader safe from losses in case if the prices are expressively moving against the traders’ position. For running successful trades while avoiding losses.
Another reason of popularity of Plus500 is their simple and easy to understand user interface. Its deposit and withdrawal procedures are easy to operate. One can deposit funds in Plus500 account by using credit and debit card, bank wire transfer and E-wallets. For South African clients it offers a bonus on their opening deposit if its amount is R3000. The bonus amount increases as the deposit amount increases.
Economic Fee Charges
Every online trading platform charges some fee for their services. Same is true for Plus500 but their fee is minimal. Additionally, it doesn’t apply any fee to the deposits and withdrawals which is very pleasant for the trader. However, on inactivity of user such as long intervals in login to the account a fee is applicable.
Availability of Demo Account
Plus500 trading platform provides the users with proper guidance about trading and offer demo account and live account for its users. In Live account trader can take a start in actual trading atmosphere. A live account can be started by depositing a minimum $100 to the account.
For beginner traders, Plus500 provides an amazing feature of demo account. It helps the users for understanding the system as well as the trading procedure. Validity of demo account is not limited. The user can use it for practice as long as he/she feels comfortable for live trading.
Easy procedure for Registration
For enjoying CFD trading at Plus500 registration is compulsory. It completes in four easy steps. First of all, download trading software from their website. Install and configure it on your device such as a PC, Laptop or mobile phone.
Now create your account in software using your valid email and set a password for it. In the next step verify your phone number through your Plus500 dashboard. Deposit funds to your account and start trading at Plus500.
To facilitate its users, it provides excellent customer support. Users can contact through live chat, email and WhatsApp to resolve their issues and get guidance. Plus500 does not offer any local phone number for South African traders but compensate it through WhatsApp support.