Plus500 Review

1.575 • 173 REVIEWS
Updated: Feb 5, 2023
Plus500.com

Plus500 is a publicly traded broker (ticker: PLUS) established in 2008 and located in Israel. It is regulated by FCA (UK), ASIC (Australia), as well as Cyprus, South Africa, Singapore regulators. (Clients need to be aware of which regulator they will be under before opening an account with Plus500, since the protections of only 1 regulator will apply to most accounts.)

Plus500 offers 55+ currencies trading as well as 5+ cryptocurrencies, stocks, precious metals, and commodities (as CFD) with its own proprietary trading platform. Popular MetaTrader platform is not offered, and social copy-trading, expert advisors are not supported. 

Please read Plus500 Reviews below and share live trading experiences with this broker.

2017-04-19: The Belgian FSMA ordered the shutdown of plus500.be and for all branches of Plus500 to stop providing services to clients in Belgium.  CLICK HERE to confirm.
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.

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

FCA Penalty Details

Other websites of this company include www.plus500.co.il

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $100
Established: 2008
Address: Building 25 Matam, Haifa, 319160, Israel
Contact: support@plus500.com, +972 4-689-2154
Regional offices:
Regulators: ASIC #417727, CySEC #250/14, FSA-S #SD039, MAS #CMS100648-1, FSCA #47546, FCA #FRN 509909
Prohibited countries:
Trading platforms: Plus500
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (20+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities

Trading Conditions

Managed Accounts & Social Trading

Deposit Methods: VISA, MasterCard, Local Bank Transfers, PayPal, Skrill
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, PayPal, Skrill
1.575 • 173 REVIEWS

Traders Reviews

M
Milan, Italy,
Oct 29, 2022,
Registered user

Plus500 CFD's options is a system to fraud clients and evade Europe laws

Service use: Live Length of use: over 1 Year
1 year time joking here I blew out a lot of money the way I didn't expect. Just got there to try, it's very easy to subscribe and deposit, then started demo and real. They subscribe you a test to check the level of trading experience(that is a really fake test they only use whenever they want to kick you out, as they did I'll write later).
Then you start pouring money, you don't understand what's going wrong about the trading scheme or the broker.
Then you read FPA review, you learn how they manipulate quotes on different account.

What I found(I'm waiting for answer from ombudsman, but relevant court is Cyprus, that is highly corrupted tax Haven, and decision is not binging, so win win lose lose) is:
Market quotes on the platform ​differs from the relevant market ones, they state to get data from third party providers but they don't provide anything but minimal description. They offer many high lever cfd options, the European limit for options leverage is 1:5, they don't describe what the real leverage is(each option may contain 100 underlying assets so the real lever could reach 1:500), they only link to an embedded page of cme-group, but that page-link was not working on the Android app, I've proof about that showing a black page.
So this is a scheme to evade retail trading protection limits, and binary options ban, offering something even more dangerous, CFD's options.
They select and limit the choice of these cfd options so you could never buy all that the relevant market counterpart show but only the worst they choose for you. They restricted all the time my options choices and blocked open position whenever they were losing, so I got stuck with my position losing by the days and cannot close them, that scheme is something about they are under class action at Israel court(https.//en giobes co iVen / articie-couri-approves-class action-on-alleged-plus500-manipulation-1001388525).
I keep asking why I can't close my position but they answered market was restricted for my position (but the relevant market was not). I asked why I cannot buy usa500(s&p500) relative cfd options in-the-money (so for example market price is 4000 you buy put3500), they keep limiting my offer to only restricted limited range of options, with very high spread. They restricted their range offer when the market is vertically moving up/down and raise position size, so they sell expensive options too big to deal and which you'll probably lose; when the market is volatile/lateral they offer wide range and low position options high spread so you will lose because of volatility.
They apply dynamical spread to cfd options, up to 1/4 bid/ask price.
So lack of information or blocked access to them(they don't specify type of options, alpha, beta..), high volatile spread, limited/manipulated offer could be enough, but it isn't.

They state they have to inform in case of some products unavailability but in fact this has never happened, when I was losing with December options in December they changed to January, they freezed my losing positions earlier than market expiration date.
There are many testimony of price manipulated from plus500 here at FPA, they checked with different account the broker showed different prices, and different positions.
I got blown many time my options like by paradoxical movements, not correlate to the relevant market ones, account assistant just show some screenshot from the Bloomberg terminal reporting that closing price, but they did not specify what the product I bought was, or why they choose that data.

The platform on some occasions applied me a negative balance, there are not proof from their database and they never confirm that.
The platform denies, but actually profits from their client's losses, in a conflict of interest, but they keep stating income are derived from the spread or their hedging financial transactions.
Neither hedging nor scalping is allowed, but none are defined by the agreement leaving an arbitrary chance to the broker to sanction clients.

Finally, I wonder how the fca/consob/afca may let such companies to operate in Europe/world, the only state banning CFD trading is USA, it's suspicious of high level corruption from financial authorities, CFDs look like a way to legalize a casino, the market win everytime, the client never own nothing(just a contract for difference=nothing in the relevant world, something exists only in this casino), expecially for options.
Even Google search engine show the first what seems like fake reviews. Somebody even manipulated PlayStore reviews so that now Plus500 is 4 star rated, but here at FPA only 1,5.

I requested the payment from Plus Ltd The sum of 48 485.1418 euros deriving from the losses incurred in cfd options trading from conflict of interests, wrongdoing, malfunction, manipulation.
I was given a conciliation proposal of € 100 in change for my clearance on the problematic cfd options, which I refused. This can be interpreted with a partial willingness to cover up by buying my silence a problem on the part of the platform.
Finally after I proceeded with my compliant they found out from my compliant I said CFD's are risky, so they arbitrary restricted and closed my account, just because the wanted to kick me out and keep my money.
They left me to open secondary account after further declarations about risk assessment, so the first one was only a joke?
E
Edson Rushenya
Melbourne, Australia,
Mar 18, 2022,
Guest

Fraud and scam is Plus500

Service use: Live Length of use: over 1 Year
I opened a live trading account with Plus500 and the best I can describe them is that they are real thieves

someone starts up online business  with a company, go through all the registration  verification processes, start transacting and then one day, you try to login in the account, the next thing you get, incorrect email or wrong password, you try to contact to them to request a password change, after submitting, on the screen it says thank you for contacting us, a link to reset your password has been sent to your provided email address, checking everywhere in the mail box, spam and junk, no email from the company, you repeat it several times and it says the same thing. Do you understand how painful it if feels when you have invested your HARD earned money, put in time to transact to grow your capital?

The next thing to happen, someone from the company contacts you indicating that they received request to reset password but before the link can be sent out you need to verify the email address and last 4 digits of the credit card or bank account you used to deposit in your trading account. After that, they go to say that restrictions were put on your account for your protection and safety and that's a fair statement to give to a client after they have attempted to access their account and failed  but what I don't understand and actually beats my human understanding is,

When a link is sent to your registered phone number, you finally reset your password and login into the account, 

All capital is withdrawn and approved by the company and only a few dollars left in the account,

Open instruments you never tranact with them, 

Close all open transactions no matter in profit or loss.

When you contact customer support, they take you around sighting user agreement 2.10.3 that you agreed and acknowledged, push it you that you didn't protect your login credentials and password and that's a breach and they are not responsible what happens in your. Fair enough, 

When you ask for the findings from there investigation, journal because I believe everything is recorded and stored, they say that's the only information they can provide and can only cooperate with police?

You go to check the monetary history and everything is deleted. NO, i think this is an inside game, it has to be thoroughly investigated and be stopped. 

I am writing this to you from experience and have all the evidence to prove my claims.

I am not just fighting for myself but other many voiceless millions and millions of people out there. 

Please, if you pick interest in my matter,  I will provide you with all evidence that at the end of your investigation, you will find some shocking dirty games inside the company.

Mar 10, 2022 - 1 Star My account was compromised first, requested for changing password and when i did, I discovered that my capital of $8000 was gone. When i contacted customer support, they said restrictions were put in place to protect my account. They requested i clarify that the account was mine which i gave them information to satisfy them. However, they have refused to remove restrictions placed on my account, withdrew all funds just leave there $64. They claim it's responsibility to protect my account credentials which true but don't show or me report to show that i never protected my credentials. If they can just refund my capital, am then happy not to take this matter further.
A
Dubai, United Arab Emirates,
Dec 16, 2021,
Registered user

Can’t withdraw my money

Service use: Live Length of use: 6-12 Months
My withdrawal was canceled more than 10k usd since more than 20 days stating my account is under review

Very bad costumer support and no reply from them only raising ticket numbers without any answer or solution
1 trader has found this review helpful
M
bern, Switzerland,
Jan 29, 2021,
Registered user

PHANTOM SPIKE!

Service use: Live Length of use: 0-3 Months
IT WAS A BIGEST PHANTOM SPIKE I EVER SAW!
NOT ANY OTHER BROKER IN A WORLD REGISTER IT!
BUT 500 PLUS DID IT!
I ASKED THEM GENTILY TO REWIEW IT AND GET TO MY POSITION SINCE I HAVE VIDEO PROOF COMPARE TO ANY CHART IN A WORLD BY SAME CURRENCY PAIR, EURGBP IN 15 MIN CHART! TIME OF SPIKE
CLOSING SPIKE TIME
28.01.2021 23:01 (EUROPE TIME)
HOW THE HELL ONLY IN PLUS 500 PLATFORM LIVE TRADING PRICE MOVED BACK TO 0.88445 WEN ANY PLATFORM IN A WORL WAS SHOWING PRICE ACTION MOVED ONLY TO 0.88336 (max) !!
ENOUGH TO BLOW UP MY ACCOUNT!
THEIR PLATFORM IS SO MANIPLATED THATS ITS SPIKE NOWS EXACTLEY WER SHOULD GO TO BLOW YOUR ACCOUNT!
NOW ISRAELI MAFIA ENOUGH WITH YOUR SCAMS!
PEOLPE WAKE UP!

PLS CHECK THIS AND SEE YOURSELF!

VIDEO/ PHOTO PROOF GOING TO YOU TUBE AND TIKTOK
WE ARE NOT IN 2009 WEN WE HERE SCAMS ANS SPIKES LIKE THIS ANY MORE! NO MORE POOP LIKE THIS!
B
Australia, Australia,
Jan 19, 2021,
Registered user

SCAM!!!!!! THIS COMPANY SHOULD NOT EXIST STILL!!!!

Service use: Live Length of use: 0-3 Months
1.They manipulate so you loose.
2.Ive waited 5 days so far for my records as to contact the ASIC and show evidence.
3.They do not have any capable customer service.
NEED PROOF ITS ALL OVER THE WEB
I will also contact the ATO if no records were kept as per trading company policy THAT IS LAW!!!
R
Bucharest, Romania,
Dec 10, 2020,
Registered user

Broker that let you survive on the market

Service use: Live Length of use: 6-12 Months
I am trading with this broker 8 months and in the same time i use other brokers also as I experience till naw from all the brokers that i’ve used plus500 let me survive on the market,i had experience the “frozen button” but is applied most on PUT and CALL options yes sometimes happens that the platform froze your close button that you cannot close the trade this I realized that happened before the market closed with about 15min before closing but anyway you can still manage editing your transaction to put TP and SL .

AND YES WITH PLUS500 ,ACCOUNT THAT I HAVE TILL NAW I AM STILL ALIVE IN THE MARKET!
VERY FAST CHAT SUPPORT !
FAST DEPOSIT IN 1sec NO COMMISSIONS!
WITHDRAWALS AROUND 5-6 HOURS NO COMMISSIONS!(you grt money to your card in 6 hours before November,after nov. 2-3 days)
PLATFORM MOVES GOOD!
SCALPING IS NOT ALLOWED I DONT KNOW WHY ! (i hope they will allow ASAP)
T
Prague, Czech Republic,
Dec 5, 2020,
Registered user

PLUS500 fraud

Service use: Live Length of use: 3-6 Months
I have tried to invest big amount of money with this broker. First month was very successful and after that came many months when was almost impossible to close some normal trade.


It is really same as casino. They are able to take all your money and just excusing that CFD is very high risky tool.


Customer service is not able to respond properly.
A
Abu Dhabi, United Arab Emirates,
Nov 10, 2020,
Registered user

The propblem is that they change terms and conditions

Service use: Live Length of use: over 1 Year
I tradeed oil and the least size for trading was 50 barrells .....then suddenly they change the size of trade to 200 ....this happens a lot and i think they follow the situation of the trader .........if creasing the size or magin will make him lose ....they will do that without a reason and if you complain about that they would say it is their right to change ...in short ...they are very happy to make you lose ....
M
Varna, Bulgaria,
Aug 8, 2020,
Registered user

My first broker

Service use: Other Length of use: 6-12 Months
They were my first broker. Simple enough for a newbie but nowadays there`s better choices.

May 24, 2020 - 2 Stars I`ve used them long time ago. Was a newbie and was fine. But from nowadays perspective it`s a not so good broker choice. Very old school and very clumsyл

Reply by Plus500 submitted Jun 1, 2020 Hello and thank you very much for your valuable feedback.



We'd love to know if you have any suggestions/recommendations on this matter and to share it with us. You are welcome to contact our support team at any time 24/7 if you need any help regarding our product. https://www.plus500.com/Help/ContactUs



We are sure that your feedback will only help us improve further.



Regards,

Social Media Team
F
Sydney, Australia,
Aug 3, 2020,
Registered user

Banned for no reason

Service use: Live Length of use: 0-3 Months
So I used plus500 a couple months before... made some money... decided to take a break... got a bunch of message to buy shares from time to time... decided to deposit some money recently... try to buy some shares... wouldn't work... it says maximum of positions in plus500 (didn't even have one share purchased)... contacted help... oh yeah apparently i was banned because of clause 22.7....

Seriously what the hell is that clause... and who cares how many times i buy and sell shares. Maybe because I made money so they banned me. When people loose money they keep them around until they go bankrupt. It says somewhere 80% of people lost their money in Plus500. Seriously, plus500 is like the casino. Loves taking people's money but can't man up and accept losses. Making all kinds of excuses like a sore looser. It's like a lotery game that hides the winning number forever. It's called a SCAM.

My dream of getting filthy rich is crushed. It was fun while it last. Cya.
1 trader has found this review helpful
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Frequently Asked Questions

Is plus500 any good?

Unbiased traders reviews on ForexPeaceArmy is the best resource for you to know about Plus500, further to determine if Plus500 is any good. https://www.forexpeacearmy.com/forex-reviews/5374/plus500.com-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Plus500 community discussions: https://www.forexpeacearmy.com/community/tags/plus500/

What is the minimum deposit on plus500?

The minimum deposit for Plus500 varies depending on the deposit method you choose.
  • Via credit/debit cards or electronic wallets, it is $100
  • Via bank transfer, it is $500

How do I withdraw money from Plus500?

To make a withdrawal from Plus500, you should follow these instructions:
  • Click on “Funds Management”
  • Find “Withdrawal”
  • Select your preferred withdrawal method
  • Fill in the fields
  • Click on the "Submit" button
On mobile devices, you can access the “Funds Management” screen from the menu button.

Is Plus500 legal?

Plus500 is a trademark of Plus500 Ltd Group. Plus500 Ltd Group is regulated in 5 countries.
  • Plus500AU Pty Ltd: is regulated with Australian Securities and Investments Commission under license AFSL Number 417727.
  • Plus500AU Pty Ltd is authorised in South Africa with license Financial Services Provider #47546.
  • Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
  • Plus500CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
  • Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039).
  • Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1).