Problem Plus500 Scam

[ZisisK]

I have 120000 euros in my account and I have him blocked. When I lost not say anything and took the money.

I sent the 7/10 and have not responded for what it is and what I did wrong :

Dear Customer,

WITHOUT PREJUDICE

We have undertaken a review of your file and trading record which indicates that your manner and/or method of trading is classified as “scalping”. The term “scalping” is classified as a form of Market Abuse, which is illegal, and is referred to in Clause 25.1.3 of our User Agreement. Briefly, this Clause states: “you will not enter into any transaction which falls within the definition of Market Abuse…”.
International regulatory authorities also consider such transactions as market abuse and have recently levied a number of fines. During the account opening process, you warranted you would not use the Trading Platform for this purpose. Accordingly Plus500 are entitled to take steps to close your account under Clauses 22.4 and 25.4.3 of the Customer User Agreement if you continue to be in breach of the warranty you gave. We may also exercise our right to cancel trades deemed be in breach of your warranty.

Plus500 may also exercise its right to be indemnified under Clause 28.7, which reads as follows: “You shall hold us harmless in respect of all liabilities which we suffer or incur as a direct or indirect result of a breach by you or your obligations under the Client Agreement”. As a result of this review Plus500 will be restricting the operation of your account.

Regards

Plus500UK Ltd
45 Moorfields
London EC2Y 9AE

UNTIL NOW Nothing
I have enough evidence about what I say

What can i do ?

Thank you for the your hospitality.

 

[leroy_0222]

I have 120000 euros in my account and I have him blocked. When I lost not say anything and took the money.

I sent the 7/10 and have not responded for what it is and what I did wrong :

Dear Customer,

WITHOUT PREJUDICE

We have undertaken a review of your file and trading record which indicates that your manner and/or method of trading is classified as “scalping”. The term “scalping” is classified as a form of Market Abuse, which is illegal, and is referred to in Clause 25.1.3 of our User Agreement. Briefly, this Clause states: “you will not enter into any transaction which falls within the definition of Market Abuse…”.
International regulatory authorities also consider such transactions as market abuse and have recently levied a number of fines. During the account opening process, you warranted you would not use the Trading Platform for this purpose. Accordingly Plus500 are entitled to take steps to close your account under Clauses 22.4 and 25.4.3 of the Customer User Agreement if you continue to be in breach of the warranty you gave. We may also exercise our right to cancel trades deemed be in breach of your warranty.

Plus500 may also exercise its right to be indemnified under Clause 28.7, which reads as follows: “You shall hold us harmless in respect of all liabilities which we suffer or incur as a direct or indirect result of a breach by you or your obligations under the Client Agreement”. As a result of this review Plus500 will be restricting the operation of your account.

Regards

Plus500UK Ltd
45 Moorfields
London EC2Y 9AE

UNTIL NOW Nothing
I have enough evidence about what I say

What can i do ?

Thank you for the your hospitality.

i have same situation with you and they send a exactly same article email to me. they send this mail on 11/11/2014 but no progress they had done.

 

[Master Yoda]

Will you send Plus500 an email to notify them about this thread?

 

[AsstModerator]

ZisisK, what were you trading?

Could you post a trading statement?

 

[ZisisK]

My account, that time must have had over 100000

EUR/USD Πωλήστε 6.000.000,00 € 2/10/2014 5:08:38 μμ 5:13:51 μμ -475,02 € 1,263 1,2631 $7,578,000.00 $7,578,600.00 0,00 € -- -475,02 €
EUR/USD Πωλήστε 4.500.000,00 € 2/10/2014 5:18:16 μμ 5:18:52 μμ 712,14 € 1,264 1,2638 $5,688,000.00 $5,687,100.00 0,00 € -- 712,14 €
EUR/USD Αγοράστε 4.000.000,00 € 2/10/2014 9:10:30 μμ 9:17:40 μμ 946,00 € 1,2681 1,2684 $5,072,400.00 $5,073,600.00 0,00 € -- 946,00 €
EUR/USD Αγοράστε 6.000.000,00 € 2/10/2014 9:20:05 μμ 9:26:17 μμ 3.781,91 € 1,2683 1,2691 $7,609,800.00 $7,614,600.00 0,00 € -- 3.781,91 €
EUR/USD Πωλήστε 6.000.000,00 € 2/10/2014 9:26:34 μμ 9:27:18 μμ 1.418,66 € 1,2691 1,2688 $7,614,600.00 $7,612,800.00 0,00 € -- 1.418,66 €
EUR/USD Αγοράστε 6.000.000,00 € 2/10/2014 9:27:59 μμ 9:29:30 μμ 1.890,81 € 1,2688 1,2692 $7,612,800.00 $7,615,200.00 0,00 € -- 1.890,81 €
EUR/USD Αγοράστε 5.000.000,00 € 2/10/2014 9:28:52 μμ 9:29:35 μμ 1.181,75 € 1,2689 1,2692 $6,344,500.00 $6,346,000.00 0,00 € -- 1.181,75 €
EUR/USD Πωλήστε 5.000.000,00 € 2/10/2014 10:25:10 μμ 10:32:16 μμ 789,33 € 1,2671 1,2669 $6,335,500.00 $6,334,500.00 0,00 € -- 789,33 €

 

[ZisisK]

Will you send Plus500 an email to notify them about this thread?

Yes.
Again, and again, and again and the last answer is 3/12/2014

Hello,

Thank you for your cooperation.

Kindly note that as soon as we will receive a response from our senior team, you will be informed. Therefore, there is no need for you to keep on contacting us.

Should you require any further assistance, you are welcome to contact us.

Best regards,
Amy
Customer Support
Plus500UK Ltd


2 months and no respond. This is the answer.

And my account is lock.

 

[ZisisK]

Will you send Plus500 an email to notify them about this thread?

And this 25/11/2014


Hello,

Thank you for your response.

We understand your frustration, however the matter is under check by the hands of our senior team and we are waiting for their response.

We appreciate your understanding and cooperation.

Regards,
Amy
Customer Support
Plus500UK Ltd

 

[ZisisK]

I am glad that I post appears (see) all users. On another site that I sent my take just me.

 

[Joa]

Plus500UK is indeed regulated by the FCA - and from all I have gathered, they ought to be reported.

It is at its core an ISRAELI company - something that should have warned any trader!!
They have 70.000 (read that again: SEVENTY THOUSAND) "affiliates" - and that explains most already. How do you think these affiliates get paid? Right on: From your money!! It comes from your deposit AND then from your "trading" which is never executed anyway (see my reports about B-Books). Apparently the system works to withdraw small profits and if the trader gets too successful, the troubles start and nobody can withdraw funds anymore.

To wit: Scalping is NOT illegal. Scalping is NOT market abuse.
If Plus500UK considers scalping illegal and/or being "market abuse" - they must declare it and determine clearly what they consider scalping. They cannot come along AFTER the fact and claim it is illegal or forbidden by their T&C and worse, refer to scalping being illegal by law. It is NOT. It might be prohibited by the broker who specifies it.

A) I suggest you write Plus500UK an email and ask for clarification about scalping in the fashion that they declare what THEY consider scalping to be. Ask for an example to make you understand. Scalping can be anything. Buy now and sell tomorrow can be considered scalping too when you're looking at a time frame of a year...... So this won't fly.
B) Ask specifically which law or regulation they are referring to that does prohibit scalping. As far as I know, there is no such law and no regulation either. This dog won't hunt either.

If you can't get that resolved, then you stand a good chance via the FSA complaint. Plus500 UK is a public company, too!! So they better have their act together.

Wait for their explanation about scalping and their reference to the law or regulation that prohibits scalping.....

Joa

Additionally: It seems that Plus500UK is systematically robbing clients, just check around a little on other web pages like forexfraud - you'll find hundreds and hundreds of complaints and some even publish the standard Plus500 answers where the company refers to "please contact our support team".......

 

[ZisisK]

A) I suggest you write Plus500UK an email and ask for clarification about scalping in the fashion that they declare what THEY consider scalping to be. Ask for an example to make you understand. Scalping can be anything. Buy now and sell tomorrow can be considered scalping too when you're looking at a time frame of a year...... So this won't fly..

I asked for cc and look at the question and the answer. In Greece these make jokes and laugh.

PLUS500
Thank you for contacting us.

The term “scalping” is classified as a form of Market Abuse, which is illegal, and is referred to in Clause 25.1.3 of our User Agreement. Briefly, this Clause states: “you will not enter into any transaction which falls within the definition of Market Abuse…”.

Any trader suspected in using such a trading method or any other foul use of our platform will be warned, and if continue, have his trading account immediately terminated and all, if any, positions will be made void.

Basically, scalping is opening a large amount of positions and closing them after short periods of time, systematically.

You could find out more about scalping here:
Scalping Definition | Investopedia
Scalping (trading) - Wikipedia, the free encyclopedia

ME
Thank you for the reply (after 10 days).
How is the time the brief you refer and how is the great amount referred;
Is 2"*5" *10"*1' *5' 10'*1 hours and why not you to protect us a check - Programmer I am.

And how big is the amount 5,000 10,000 20,000 40,000 or how much percentage of capital is and why it protected us with a check.
And finally informing me and put a prohibitive for these moves that can not be done.
Now updated to unlock the account I withdraw.

PLUS500 DONT laughs it's serious

Unfortunately, we cannot provide you further information about scalping than what we already provided.
You are supposed to be able to withdraw your funds.
If you encounter any issues, please contact us.

AND ME

You put a rule "scalping" and you can not tell me what is normally !!!
I think not. You say you can not do something but do not say what you can not do !!!!
Unbelievable !!!
The account is locked I can not make a withdrawal.
Please look at.

END