Problem Plus500 Scam

[Pharaoh]

Plus500 prohibits scalping, but doesn't bother to define exactly what is and isn't scalping. This means they can wipe any trades they want to.

Please go ahead and open an FPA Traders Court case. Also, file a complaint with the UK FCA and UK FOS.

 

[ZisisK]

Plus500 prohibits scalping, but doesn't bother to define exactly what is and isn't scalping. This means they can wipe any trades they want to.

Please go ahead and open an FPA Traders Court case. Also, file a complaint with the UK FCA and UK FOS.

I have already reported on the FOS and the weekends will continue with FCA and open an FPA Traders Court case.

For Plus500 apply what we say in Greece "my own my own and own our own".

 

[ZisisK]

I had new messages

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”.

Accordingly we will take steps to cancel the results of any trading which are considered to have been achieved through scalping and close your account.

Accordingly, your trading account was restricted. Please withdraw your remaining funds - you will not be able to trade with Plus500 anymore.

Regards

AND

Hello,
We would like to inform you that your trading account was closed due to Scalping.
As stated in our User Agreement, clause 25.1.3: “you will not enter into any transaction which falls within the definition of Market Abuse…”. The term “scalping” is classified as a form of Market Abuse, which is illegal at Plus500. Therefore, you won't be able to withdraw the earnings you have made.
Furthermore, please take into consideration that you won't be able to keep trading with us.
Regards,
Irina
Customer Support
Plus500UK Ltd

This was picked up 120,000.
But you will not get them. I communicate with the SEC and continue with all committees and legal means.

 

[Joa]

Zisis
You absolutely need to make sure that you are indeed dealing with Plus500UK Ltd.
You need run a check, email trace, whatever you can get your hands on, check their IP Address as well on the emails you are getting.
Once you are certain, that all this truly comes from the UK, you should start the action with FCS and FOS, make sure you got all your records straight.
Then you must make sure that you actually know with equal 100% certainty that your money went to Plus500 UK Ltd - and not to Cyprus. If all happened in Cyprus it would make it very difficult for you because of the different jurisdictions. Make sure that your bank or credit card statement clearly shows as an account holder and receiver of your money Plus500 UK Ltd......
I suppose and hope for you it's the UK entity... then you have them by the tail.
If you have any Cypriot information on your statements, you can prove that they conduct the business not under UK regulation, another good thing - or bad, depending on point of view.
Again, Plus500 UK Ltd, one way or another, is the owner of the webpage Plus500.com but on that website you get directed to Cyprus.
So please make sure you got your ducks in a row.....

 

[Master Yoda]

I have already reported on the FOS and the weekends will continue with FCA and open an FPA Traders Court case..

Have you got any reply?

 

[ZisisK]

Zisis
You absolutely need to make sure that you are indeed dealing with Plus500UK Ltd.
You need run a check, email trace, whatever you can get your hands on, check their IP Address as well on the emails you are getting.
Once you are certain, that all this truly comes from the UK, you should start the action with FCS and FOS, make sure you got all your records straight.
Then you must make sure that you actually know with equal 100% certainty that your money went to Plus500 UK Ltd - and not to Cyprus. If all happened in Cyprus it would make it very difficult for you because of the different jurisdictions. Make sure that your bank or credit card statement clearly shows as an account holder and receiver of your money Plus500 UK Ltd......
I suppose and hope for you it's the UK entity... then you have them by the tail.
If you have any Cypriot information on your statements, you can prove that they conduct the business not under UK regulation, another good thing - or bad, depending on point of view.
Again, Plus500 UK Ltd, one way or another, is the owner of the webpage Plus500.com but on that website you get directed to Cyprus.
So please make sure you got your ducks in a row.....

Thanks my friend for yours advance
look here
Plus500 |

"The Plus500CY Ltd. authorized and regulated by the CySEC (250/14).
The Plus500CY Ltd. is a company registered in Cyprus (no. Company Registration HE 333382), specializing in Contracts for Difference (CFDs), in commodities, equities, currencies and indices."

and

"Complaints Procedure

We are required to provide internal procedures for resolving complaints fairly and promptly. Can you make a complaint by letter or by email. We will send you written confirmation of submission of your complaint promptly following receipt, enclosing details regarding our complaint handling procedures, including when and how you can make your complaint to the SEC («CySEC»), the which is the competent supervisory authority. Please contact us if you wish to receive more information on our complaint processing procedures."

I spoke with Plus500UK but i see and Plus500CY in Greek site.


Thanks again

 

[ZisisK]

Have you got any reply?

Not yet. I sended to FOS and cysec.gov.cy

 

[Joa]

Now you see what I mean how they perpetrade the scam

You "think" you're dealing with Plus500 UK Ltd.
But they have redirected you to their Cyprus entity.
They still respond as Plus500UK Ltd.
but... now they want you to follow the inexistent rules of Cyprus law and regulation

It comes down to this: WHO got your money?
Please check your bank account statement, or that of your Credit Card
THERE is the proof of WHO your partner really was.

They use the UK image of being regulated by the FCA - but in fact, they conduct their business and direct you to..... CYPRUS

I hope and pray that your money went to the UK entity......

 

[Prem Kumar Ramamurthi]

As per this review comp is in UK. Link: Plus500.com Review | A must read before you trade with Plus500.com

But in their official site, its entirely diff. Is it just another beat around the bush

 

[Joa]

Zisis

I try to help you. But without knowing to whom you paid your money to, it's all obsolete.

So once again: When you paid (bank transfer, Credit Card), someone has gotten your money.
It says on your bank/credit card statements the name of the company and the location location at the minimum. I need to know that like any one else who'd want to help. I accept that you may reject any help, I am not to bother you if you don't want to disclose that.
If you wish, you can contact me with a private message

I would at least expect that you lend me a hand, when I try to give you some advice and maybe active help.
Joa