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Problem Plus 500 scam- Be aware!
- Thread starter HS1
- Start date
-
- Tags
- plus500.com
I am having an issue with a company
Pharaoh
Brigadier General
- Messages
- 20,308
Sounds like it's time to file an FPA Traders Court case.
Kerobokan
Banned for uncivilized conduct
- Messages
- 138
Plus500 really does seem to be one of the worst type of scammers there is,it's an Israeli run company isn't it?I don't understand why people actually send their hard-earned money to these scammers with so many horror stories about client withdrawals even on just this one website?
Another case in point is IC Markets,who have pages and pages of what are obviously real stories of people being scammed.Yet everywhere I look I see three companies,Plus500,IC Markets and of course the undisputed Daddy of all scammers FXCM promoted,as the best companies to trade with under the banner of FCA regulation!Why is this?
Do people realise that the FSA,predecessor of the FCA was disbanded and renamed specifically because they were so toothless,I think they actually only ever prosecuted a handful of cases in over a decade of operating?Regulation means very little as many of these companies will still scam you for every penny under the banner of the best regulators in the world,knowledge is the key to avoid these scumbag scammers and Plus500 has to be right up there with the best!
Another case in point is IC Markets,who have pages and pages of what are obviously real stories of people being scammed.Yet everywhere I look I see three companies,Plus500,IC Markets and of course the undisputed Daddy of all scammers FXCM promoted,as the best companies to trade with under the banner of FCA regulation!Why is this?
Do people realise that the FSA,predecessor of the FCA was disbanded and renamed specifically because they were so toothless,I think they actually only ever prosecuted a handful of cases in over a decade of operating?Regulation means very little as many of these companies will still scam you for every penny under the banner of the best regulators in the world,knowledge is the key to avoid these scumbag scammers and Plus500 has to be right up there with the best!
Bucketshop+500
Recruit
- Messages
- 1
BUCKETSHOP UPDATE: Warning guys.
I deposited AUD$7520 (I'm in Aust) by ING visa debitcard and was charged a $188 "International Purchase Fee". I assume when I withdraw I'll be charged the same. But as they have a Sydney office, why not an aussie bank account for deposits like other companies have set up. And further they do not mention it anywhere that I could find, that you are making a foreign bank transfer and will lose 5% guaranteed.
I have 17 years experience at this game so made four winning trades in first 36 hours = just over $600 profit.
So after watching their instruments for three days on 9, 10 & 11th Feb 2016. I traded mostly outside stockmarket hours.
No mistake, I opened and closed SPI200 (ASX200) index around 8.30pm EST, and 2.30am 12/Feb EST.
Reaction or coincidence? On Frday 12th, they shut down all outside stockmarket access to their indices.
Fine, so I chatted three times online with them, and with proof of transaction IDs they gave me endless runaround even when I asked to speak to actual Plus500 staff twice. ignored! I told them I currently have $30,000 SPI200 trades I may need to close tonight, but unlike the last 3 days they have today shut down access to after hours index trading, WHY? No answers whatsoever. Upset was I. I had to hedge the $30k at Igmarkets (a slightly better bucketshop) Friday night, to effectively close the trades until monday.
There were two other typical rotten things so far I wont bother explaining, but rest assured this place WILL FLEECE YOU if you let them. They are a modern bucketshop trading model. I am sorry to find this CFD industry hasn't matured in 20 years online.
Please note, I have made clear profit in two days knowing what I'm doing in this trading arena, and I'm clearing out my funds on Monday.
Recommend you guys stay away or search for anywhere that does not have a dealing desk trading against their customers, if any currently exist. Such companies have historically been bought out by companies like DailyFX that do (did) have a very successful dealing desk operation.
I deposited AUD$7520 (I'm in Aust) by ING visa debitcard and was charged a $188 "International Purchase Fee". I assume when I withdraw I'll be charged the same. But as they have a Sydney office, why not an aussie bank account for deposits like other companies have set up. And further they do not mention it anywhere that I could find, that you are making a foreign bank transfer and will lose 5% guaranteed.
I have 17 years experience at this game so made four winning trades in first 36 hours = just over $600 profit.
So after watching their instruments for three days on 9, 10 & 11th Feb 2016. I traded mostly outside stockmarket hours.
No mistake, I opened and closed SPI200 (ASX200) index around 8.30pm EST, and 2.30am 12/Feb EST.
Reaction or coincidence? On Frday 12th, they shut down all outside stockmarket access to their indices.
Fine, so I chatted three times online with them, and with proof of transaction IDs they gave me endless runaround even when I asked to speak to actual Plus500 staff twice. ignored! I told them I currently have $30,000 SPI200 trades I may need to close tonight, but unlike the last 3 days they have today shut down access to after hours index trading, WHY? No answers whatsoever. Upset was I. I had to hedge the $30k at Igmarkets (a slightly better bucketshop) Friday night, to effectively close the trades until monday.
There were two other typical rotten things so far I wont bother explaining, but rest assured this place WILL FLEECE YOU if you let them. They are a modern bucketshop trading model. I am sorry to find this CFD industry hasn't matured in 20 years online.
Please note, I have made clear profit in two days knowing what I'm doing in this trading arena, and I'm clearing out my funds on Monday.
Recommend you guys stay away or search for anywhere that does not have a dealing desk trading against their customers, if any currently exist. Such companies have historically been bought out by companies like DailyFX that do (did) have a very successful dealing desk operation.
The exact same thing happened to me as Joa back in 2014 with Plus500. It was my first time investing money on any trading platform, I deposited £500 which I quickly doubled to £1000 and withdrew £500 which came back to my account pretty fast. I then got up to just over £900 and withdrew £300 which brought up all sorts of security checks and delays in my withdrawal which was shown as pending. As far as I was concerned this £300 was now out of trading and was safe no matter if pending. I continued to trade with the remaining 600 that I lost very quickly but instead of closing my balance at 0 it continued into minus equity until it stopped itself at around -500. As you can guess my withdrawal was then completely removed and after much chasing and being ignored I was told it was to cover my negative losses plus500 suddenly allowed. I contacted the FCA who didn't give much help and ended up forgetting about it due to the stress it was causing me. I've never used trading again since as I never could find an interface useable as much as plus500 and couldn't trust plus500 enough to re-invest. I would be happy to work with others this has happened to to retrieve our money.
tradingdetective911
Recruit
- Messages
- 5
Thats not real CFD's bud.
Theyr platform works fine for me.
Theyr platform works fine for me.
tradingdetective911
Recruit
- Messages
- 5
AM I THE ONLY ONE WHO IS MAKING MONEY WITH PLUS 500 FOR 6 MONTHS.
i AM WORKING WITH CARLM ERICSON AND IT HAS BEEN A GREAT TIME.
Sorry for the caps.
I am not sure if you guys know how to trade
FPA Forums Team Note: Is that the same Carl Ericson you praised in a review you submitted for Option500?
i AM WORKING WITH CARLM ERICSON AND IT HAS BEEN A GREAT TIME.
Sorry for the caps.
I am not sure if you guys know how to trade
FPA Forums Team Note: Is that the same Carl Ericson you praised in a review you submitted for Option500?
FmrBrokerExecutive
Master Sergeant
- Messages
- 264
Plus500 is a HUGE company.
I am surprised to read this about an FCA Regulated brokerage.
What's so odd about Plus 500 to me is they have NO phone support whatsoever.
I think they offer chat/email only.
It amazes me how many clients they can attract however. They also don't offer Metatrader, which is beginning to be a trend however.
I am surprised to read this about an FCA Regulated brokerage.
What's so odd about Plus 500 to me is they have NO phone support whatsoever.
I think they offer chat/email only.
It amazes me how many clients they can attract however. They also don't offer Metatrader, which is beginning to be a trend however.
