RESOLVED - Plus500 Withdrawal Restriction

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Figure out which branch of Plus500 has your money. Complain to that branch's regulator.

If you are with the UK branch or else deposited money with their UK bank account, you can also file a complaint with Action Fraud
 
Thanks for the advice, I have checked and it's with the Cyprus branch. So I guess my only recourse is to complain to CySEC. I am awaiting their decision now.

Again I am fed up with them replying me and telling me to send them a copy of my Visa card. I sent it time and time again to have it cancelled without any reason. If verification documents are required by regulators for the protection of customers, I am sure it is illegal for them to continuously cancel my document submission and not provide any reason. This has gone on since 30th April. On 4th May the complaints department contacted me telling me they are still awaiting a decision and yet again asked me to submit a copy of my Visa card. I have done so many times but again cancelled without any reason.
 
Talk to the fraud department at your credit card's issuing bank.

Cyprus now has a financial ombudsman. That's another place to complain to.

An FPA Traders Court case would also be a way to warn other traders about what happened to you.
 
Thanks Pharaoh and Master Yoda. Yes i have contacted CySEC last week pertaining this matter as well as MAS which is the regulatory authority in Singapore, they have directed me the the Commercial Affairs Department within the Singapore Police. I tried filing and FPA Traders Court case, however, each time I hit submit, I get directed to a blank page and nothing happens.

An update, they finally replied after several days under the name Kate from the Complaints Department. This time they told me that there is no need to submit any more documents and a copy of my Visa card was not required anymore. Strange. Regardless, I am still unable to withdraw any funds from my account. Each time I click on the withdraw button, I get a blank page before being redirected back to the previous page. They mentioned that their department is reviewing my account and making a decision about my profits, I will give them till tomorrow before I start getting a lot more active in my action against them.

Ironically, they have upgraded my account to a Gold account. I have read so many reviews of how this is just a scam but what truly fascinates me is upgrading my account to Gold when my account has been limited according to them. What kind of a joke is this. My question to them is, am I a Gold member now, pun intended since Plus500 has already made this a joke, or am I still considered a scalper with a limited account.

The reply came after several days of me sending several emails, so much for their policy of replying within 24 hours, especially regarding such issues. Apparently it is fine for them to violate their policies and subsequently send me an email a few days later again telling me I have been upgraded to a Gold account.
 
It looks like you figured it out. You have an open case in the Court Case Preparation folder.
 
If you guys have been following the news, plus500 froze some 55% of it customer accounts and is paying dearly by falling stocks.

uk.businessinsider.com/israeli-spreadbetting-firm-plus500s-stock-is-bombing-after-freezing-accounts-money-laundering-2015-5
 
I've not been here for a while but I'd like to make the following statement again:

Anybody here having troubles with Plus500... get in touch with me

I have been working for 6 months now on the case of this company which I consider a fraud
 
If you guys have been following the news, plus500 froze some 55% of it customer accounts and is paying dearly by falling stocks.

uk.businessinsider.com/israeli-spreadbetting-firm-plus500s-stock-is-bombing-after-freezing-accounts-money-laundering-2015-5

I`m wondering that they are still in the market :(
 
Let's hope the FCA keeps Plus500 under the microscope and forces them to stop grabbing money using undefined "scalping" claims.
 
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