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Plus500.com Review Visit site

Updated: Sep 26, 2016
1.737 · 92 REVIEWS
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Plus 500's UK branch at www.plus500.co.uk registered with the FSA on 2010-06-29.

October 2012:  Plus500 fined over 200,000 GBP by the FSA

FSA Penalty Details

CAUTION:  Plus500 reserves the right to cancel scalp trades.  It appears that they do not clearly define how long a trade must be held to not be considered scalping.  Please Click Here and see this thread for more information.

The FPA recommends against dealing with brokers that cannot or will not provide a clear definition of what trades are and are not allowed.

February 2016:  There is an FPA Traders Court vote against Plus500.  Unless this issue is resolved, the FPA recommends a very high level of caution dealing with Plus500.

 

Plus500.com

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  • Resolved1
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  • Guilty1
Case IDFiledCase nameVerdict
2015-2092015-12-08camille caillaut vs Plus500,comguilty
2015-1772015-10-15pieter vogel vs plus500.comresolved

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1.737 · 92 REVIEWS
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Eindhoven, Netherlands
Sep 15, 2016
Registed user

+500 makes up rates taking your money

Some serious shady business going on at plus500.

Peter Schouten, Sep 8, 14:30 IDT:
LiveChat conversation transcript:
----------
source: WebTrader2
ip: 193.172.150.12
lang: en
page: Menu
email: peterschouten@gmail.com
real: true

Chavdar (Thu, 9/8/2016, 01:45:24 pm Europe/Helsinki)
Hello. How may I help you?

peter jeroen schouten (Thu, 9/8/2016, 01:45:24 pm)
Hello, i want to ask you about a closed position this morning

peter jeroen schouten (Thu, 9/8/2016, 01:45:48 pm)
it is position 1030289605

peter jeroen schouten (Thu, 9/8/2016, 01:46:09 pm)
it was closed for margin call at close rate 2424, but it has never reached 2424

Chavdar (Thu, 9/8/2016, 01:46:31 pm)
I will need a few moments to verify this matter.

peter jeroen schouten (Thu, 9/8/2016, 01:46:36 pm)
In fact, it still isnt at 2424

Chavdar (Thu, 9/8/2016, 01:47:41 pm)
Unfortunately, your position #1030289605# was closed due to a margin call.

peter jeroen schouten (Thu, 9/8/2016, 01:48:27 pm)
yes i see that. But it closed at a rate it hasn't reached. Clsoing rate was 2424, but is has not been above 2396

peter jeroen schouten (Thu, 9/8/2016, 01:50:01 pm)
Hello?

Chavdar (Thu, 9/8/2016, 01:50:36 pm)
Just a second, please

Chavdar (Thu, 9/8/2016, 01:52:12 pm)
Please note that in the event that your Equity falls below the maintenance margin requirement for all open positions, it means that you do not have enough funds to maintain your position and therefore the position will be closed by "Margin Call".

peter jeroen schouten (Thu, 9/8/2016, 01:52:48 pm)
I understand sir, but it has not been that high, so i do not understand the margin call. It has not been at 2424

peter jeroen schouten (Thu, 9/8/2016, 01:53:22 pm)
You closed it 09:01 and it was 2356 then

Chavdar (Thu, 9/8/2016, 01:53:59 pm)
Yes, I understand. But please note that we reflect the market as it is, and in some cases the fluctuations of the market are very high.

Chavdar (Thu, 9/8/2016, 01:54:13 pm)
bear in mind that maintaining a sufficient equity at any given time, is under the responsibly of the trader.

peter jeroen schouten (Thu, 9/8/2016, 01:54:45 pm)
But why is it not visible in ANY program? The market has not been that high

peter jeroen schouten (Thu, 9/8/2016, 01:55:05 pm)
It has not been above 2396

Chavdar (Thu, 9/8/2016, 01:55:57 pm)
Bear in mind that your position is a sell position

Chavdar (Thu, 9/8/2016, 01:56:10 pm)
So you have to look the buy rate.

Chavdar (Thu, 9/8/2016, 01:56:44 pm)
In the graphics are shown the sell rates.

peter jeroen schouten (Thu, 9/8/2016, 01:56:52 pm)
I understand sir. I opened it at 2374 and at the moment of closing: 09:01 it was 2356

peter jeroen schouten (Thu, 9/8/2016, 01:57:09 pm)
So it went short as i predicted

peter jeroen schouten (Thu, 9/8/2016, 01:57:36 pm)
I even had the take profit installed. I understand slippage, but it has not been at 2424 at all

Chavdar (Thu, 9/8/2016, 01:58:35 pm)
Yes, I understand. Please note that the market is highly volatile and an investment in CFDs carries a high degree of risk to the investor

peter jeroen schouten (Thu, 9/8/2016, 01:58:56 pm)
I do understand sir

peter jeroen schouten (Thu, 9/8/2016, 01:59:02 pm)
but the rate has not been at 2424

peter jeroen schouten (Thu, 9/8/2016, 01:59:39 pm)
it has not been above 2396 and at the moment of closing it was 2356

Chavdar (Thu, 9/8/2016, 02:00:27 pm)
Please note that the graphics represents the sell rate.

peter jeroen schouten (Thu, 9/8/2016, 02:00:46 pm)
It isn't showing on any graph

Chavdar (Thu, 9/8/2016, 02:01:21 pm)
Where did you see the rates?

peter jeroen schouten (Thu, 9/8/2016, 02:01:34 pm)
nl.investing.com

Chavdar (Thu, 9/8/2016, 02:03:19 pm)
Please note that this instrument is a future contract for December.

Chavdar (Thu, 9/8/2016, 02:03:38 pm)
In any case you should check the rates on our Platform.

peter jeroen schouten (Thu, 9/8/2016, 02:03:57 pm)
On your platform it hasn't reached 2424 either

Chavdar (Thu, 9/8/2016, 02:04:06 pm)
Please note that Plus500's quotes prices with reference to the price of the relevant underlying financial instrument and its spread. This price is obtained from a range of third party reference sources, various nominated independent financial market data providers, who, in turn source their price feeds from relevant exchanges.

peter jeroen schouten (Thu, 9/8/2016, 02:04:56 pm)
i understand sir but again, it has not been at 2424

Chavdar (Thu, 9/8/2016, 02:05:20 pm)
Yes I understand.

Chavdar (Thu, 9/8/2016, 02:05:28 pm)
Please note that in the event that your Equity falls below the maintenance margin requirement for all open positions, it means that you do not have enough funds to maintain your position and therefore the position will be closed by "Margin Call".

Chavdar (Thu, 9/8/2016, 02:05:53 pm)
Please read the info here:http://www.plus500.com/FAQ/Trading/WhatIsMarginCall&hightlight=margin%20

peter jeroen schouten (Thu, 9/8/2016, 02:05:54 pm)
Come on... I understand but you mention a rate it has not reached

peter jeroen schouten (Thu, 9/8/2016, 02:06:04 pm)
i understand what a margin call is

peter jeroen schouten (Thu, 9/8/2016, 02:06:47 pm)
You closed my position at a rate it has not reached and now you try to claim margin call, what is going on?

Chavdar (Thu, 9/8/2016, 02:07:24 pm)
Your position was closed because of the the Margin Call.

peter jeroen schouten (Thu, 9/8/2016, 02:07:30 pm)
Falsely

peter jeroen schouten (Thu, 9/8/2016, 02:07:39 pm)
a mistake has been made here

Chavdar (Thu, 9/8/2016, 02:07:58 pm)
Because you did not have enough funds to maintain your position

Chavdar (Thu, 9/8/2016, 02:08:20 pm)
Your equity was -503.09

peter jeroen schouten (Thu, 9/8/2016, 02:08:43 pm)
that is not true, because i opened the position at 2374 and at the moment of closing it was 2356. It has not been above 2374 before the moment of closing

Chavdar (Thu, 9/8/2016, 02:09:25 pm)
One moment,

Chavdar (Thu, 9/8/2016, 02:17:26 pm)
Please note that our rate at the moment were as following 08/09/2016 09:01: the sell rate was 2342 and the buy rate was 2424. So your position was closed by the buy rate at this particular moment, because your position is sell position.

peter jeroen schouten (Thu, 9/8/2016, 02:17:47 pm)
That is not true

peter jeroen schouten (Thu, 9/8/2016, 02:18:04 pm)
It was 2356 at 09:01

peter jeroen schouten (Thu, 9/8/2016, 02:18:35 pm)
What you are saying can never be true because austria 20 has a 12 pip spread

Chavdar (Thu, 9/8/2016, 02:19:57 pm)
Please note that this Instrument (Austria 20) has a Dynamic spred. With the dynamic margin, the difference between the Buy and Sell rates is not fixed and is constantly changing based on recent market data.

peter jeroen schouten (Thu, 9/8/2016, 02:20:24 pm)
And where can i see what you are saying? What graph can i consult?

Chavdar (Thu, 9/8/2016, 02:22:43 pm)
Just a moment, please.

peter jeroen schouten (Thu, 9/8/2016, 02:25:34 pm)
ok

Chavdar (Thu, 9/8/2016, 02:26:49 pm)
I would like to inform you that once we close this chat your query will be forwarded to the relevant department. You will be contacted via email, once there is an update on this matter.

peter jeroen schouten (Thu, 9/8/2016, 02:27:05 pm)
What is this about?

Chavdar (Thu, 9/8/2016, 02:28:07 pm)
Sir, I will escalate your query to our relevant department, and once

Chavdar (Thu, 9/8/2016, 02:28:37 pm)
i have their answer I will write you immediately.

peter jeroen schouten (Thu, 9/8/2016, 02:29:25 pm)
Ok. To me it sounds like I will never hear anything again, but thank you for patience and time

Chavdar (Thu, 9/8/2016, 02:29:44 pm)
I assure you that we will contact you.

Chavdar (Thu, 9/8/2016, 02:30:05 pm)
Thank you for reaching us. Bye. Have a good day.

peter jeroen schouten (Thu, 9/8/2016, 02:30:14 pm)
You to, thank you again.

----------
Any additional feedback or suggestions?
Did you get the answer you were looking for? No, my questions were

So senior Staff naturally replied with the same kind of response but no proof whatsoever.

To me this is a case of stoploss hunting. Be carefull spending your money at +500

, Hong Kong
Jun 13, 2016
Guest

Hi all,my name is Ching and I come from Hong Kong, please forgive me my English is very limited, I tried my best to share my experiences about trading in Plus500( my account : 74597618), seriously it is TOTALLY NIGHTMARE and they are SCAMMERS 500% for sure! Please kindly read before you join Plus500, or you can search ton of similar cases in the internet. They made me so frustrated in this two month and I tried to end my life because of my stupidly that believed a registered scammer Plus500 company, lucky I got the hearty support from my friends and family, and they encourage me to post on internet to alert everyone, complain to ASIC and others related department such as AU police. My ID, address, phone, credit card all of the info are totally validated previously, and then in April, I lose the money in a row of trading, but after that I won a bit and finally I got USD28000 in my account ( 1/3 from my deposit and actually it still cannot cover my lose ).and then I started the withdrawal, I requested and waited few days, firstly they asked me to submit the doc for validating AGAIN, I felt weird because it was validated so long ago and it show full green ticked, Ok fine I resubmitted the photo and after few days, they replied that they want the doc in full of English ( actually it is Chinese + English bank statement ....) ok I discussed with the agent he said it is ok and so re-resubmit the SAME picture again! Few days again, my account pop out a message box saying my account is Restricted...!! I SHOCKED and keep contracting the agents, they all replied the same "relevant department was checking my issue".................................. At that moment, I searched in internet, so many cases against Plus500 and I started to feel scaring because it is my real money! Feeling scam because they didn't check your account until you Win. I found that so many peoples were banned because of scalping ( please correct me if i spell wrong ) and hedging, and most of the cases shown Plus500 no specific rule and guide to judge what is scaleping, I tried to protect myself, contact and warned them " please don't try to cheat and steal my money! I searched and know what is sclaping and hedging! I didn't do that I am sure!".....They just foward the message to senior team, and Two weeks after, a senior name Amy ( actually I found so many trader were banned by her ), she contact me and say, my account was banned because of "connected account + hedging" in their company group! I was keep contracting them via email and live chat, but they keep using the user agreement section 19.10 as the shield and pointing some of my trading action are similar ( YES they say similar, so wide judgment)to other account! and I asking them to show me the prove because it is cheating my money at all, and then there is no more reply after their email "title: Final Response", that's so rude and scamming! Therefore I just sent the complain to ASIC and trying to contact the AU police. Again, it is a bloody nightmare to me, I cannot believe my money was stolen so violent!!! Everyone please beware Plus500, what I said are real and you can search in the internet! I am nooooooo idea why they can still have the license, please contact me if you would like to group all of the complain about their license because I am going to do that in another complain.

Bauska, Latvia
Mar 18, 2016
Guest

I withdrew money on the 3rd March 2016, it is now the 18th March 2016 and I am still waiting, they will tell you to contact plus500 customer service, but I can tell you that is pointless, they work off a script and they do not respond in any sensible time, 1 week and I am still waiting for them to tell me what has happened to my money. I have another big withdrawal from the 15th March 2016 but I doubt I will see that money either, just a bunch of thieves with pretend customer service, better to get in contact with the financial regulation service according to what people who work from other CFD and Forex companies, they are well known for not paying. they took my money within seconds of depositing it but refuse to give what I earned. nothing but thieves, I am completely approved and verified so there is no reason to not deposit my funds into my bank account.

Lisbon, Portugal
Mar 15, 2016
Guest

I´ve made a profit of €2164.15 from various days and positions in less than a month. When i try to withdrawl €3665 they took a week to tell me - "The term “Scalping” is defined in the Client User Agreement as “a trading method based on the notion that the Client opens a number of positions and closes them in a very short time (within two (2) minutes limit) in order to accumulate quick profits from small price changes”. and "Any profits made by scalping activity were made void. This is what happened on your trading account balance. The amount of your scalping profits in the sum of 975.75 € was deducted from your trading account." So they put back €2669.40 and yesterday i made a withdrawl of €2669. Until now they didn´t aprove my withdrawl, disabled chat, and dont reply back on support page zendesk. I posted this here after reading many of the complaints here and ather sites. I think this have to be REALY REGULATED. On casinos, sportexchanges, sportbrokers, there is a tight regulation, how come in financial products, things like this happen? Its beyond imaginable. I would like to know how can i solve this issue. Thank you.

Lucca, Italy
Feb 23, 2016
Guest

They not paying my money, i deposited $500 to test them and after making something around $900 i tried to withdrow $700 just after i sent the request they blocked everything, and telling me i did wrong trades bla bla, they not telling me what are these wrong trades and i used their platform and used their prices. Cyprus need to take action aginst this scam company asap.

Sussex, United Kingdom
Feb 22, 2016
Guest

I opened an account for 1 week and I had two margin calls they took all my money two times, and after that they stole £900 from my account without reason and now they are trying to think of something each time they change the reason of why they took it. Never invest any money in plus 500. The stop losses don't even work!

Dundee, United Kingdom
Feb 8, 2016
Guest

DO NOT GO NEAR THIS BUCKETSHOP PLUS500....I HAD THREE SMALL TRADES RUNNING WITH THREE BROKERS . TWO BROKERS CLOSED MY TRADES AT STOP LOSS. PLUS 500 CLOSED MY POSITION 103 PIPS LOWER. THEY EXPLAINED THEY COULD NOT CLOSE MY TRADE AT MY STOP LOSS. TINY TRADE AND IT WAS EUR/USD, THE MOST LIQUID PAIR.. THEIR REGULATOR IS LOOKING INTO IT......STAY AWAY FROM PLUS 500

Tartu, Estonia
Jan 17, 2016
Guest

Hello. I opened account with Plus500 couple weeks ago, they gave me free 25 euro bonus. So i started trading with that money and week later i earned 800 euro. So i sent to them my ID and bill and after 5 minutes they verified my account. Then i decide to withdraw 400 euro to my personal bank account, but after i did that, next day they closed my account. They said that i already have account with them and i was not eligible for a 25 euro bonus and my account will remain closed. The problem is that this is my first account and i had never traded before in my life. I don't know what to do and i feel totally scammed. They don't answer me, i asked them if you want take your 25 euro bonus back, but give me my honestly earned 775 euro. Plus500 just answered your account will remain closed and i have to trade on my another account, but i have only one account which they closed. People please be very careful with them, they can just close your account if you are too successful with your real deposited money and you will never see them again. I'am very happy that i didn't deposit my own money. Plus500 scammers

, Czech Republic
Dec 31, 2015
Guest

A Big Scam....!!! Warning!!! Warning!!!Warning!!! Warning!!! After asking for conditions and limits I became this answer: Please note that there are various different limitations that we must place on customers' trading accounts, with respect to to our AML (anti money laundering) policy and in order to provide all our customers with equal trading opportunities. These limitations vary from monetary limitations to trading limitations. Please take into consideration that these limitations exist and you may encounter them while trading, hence we strongly suggest you to build your trading strategy around them. Unfortunately, we cannot specify the details of these limitations, since first of all, it is internal company information we are not able to disclose and secondly, since the limitations change according to customer account settings, trading instruments and other criteria defined by our providers. What does it mean ???? They can do everything with your money, but you cannot know the conditions in advance !!!! It is secret !!! For you too, although they have your money !!! There exist no oficial graphs, you have to install their software into your computer . Why ? Because than you have no comparison ! It does not exist in fact ! Believe me, I lost here everything. And I please you to like and share this information however it is possible, PLEASE !!!

gent, Belgium
Oct 15, 2015
Guest

Issue escalated to Traders Court pieter vogel vs plus500.com | RESOLVED

The FPA is pleased to announce that this issue has been resolved. bad broker, blocks account if you make big profit. I have made withdrawal and it's still open after 9 days. No answers from plus500..

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