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Plus500.com Review Visit site

Updated: Sep 17, 2018
1.725 · 123 REVIEWS
Is this your company?

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

FSA Penalty Details

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.
Plus 500's UK branch at www.plus500.co.uk registered with the FSA on 2010-06-29.

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

Plus500 is a forex broker. Plus 500 offers the Mobile and WebTrader trading currency platforms. Plus500.com offers currency pairs, cryptocurrencies, gold, silver, stocks, options, commodities and cfds for your personal investment and trading options.

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

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1.725 · 123 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Amelia McCall,
Milton Keynes, United Kingdom,
Sep 15, 2018,
Guest

I am puzzled why there is so much hatred towards this company.
Yes, they offer a more simplified trading software without the bells and whistles of MT4 or their support - but the software does what it says.
10+ members of my investment club also use Plus500 without issues.
I really think many of the issues are exaggerated but I could be wrong.

ALL withdrawals I've processed were sorted the same day..

Support could definitely be better however.
Simon Heather,
United Kingdom,
Jul 27, 2018,
Guest

Withdrawal Delay

I've had no problems until now but I am now making a larger withdrawal and suddenly I receive an email saying my withdrawal is going to be delayed whilst my account is reviewed. Updates to be posted here over the coming days
Reply by Plus500 submitted Jul 30, 2018:
Hello Simon,
Thank you for your comment!

Please consider that from time to time we undertake reviews of our customer's files and accounts, as well as withdrawal requests, as in your case.
That is why a notice about a short delay was sent out to your end.
We can assure you that our team is doing their best to review and process customers withdrawal requests.
You will be notified accordingly in the relevant ticket (email).

Thank you for your patience & understanding.

Regards,
Plus500
sami saif,
Oman,
Jul 9, 2018,
Registered user

Scam company

It is scam company.I withdraw my money but not reach me before 6 month I contact to support team but they told me it’s sent but not reach me.(all my details correct)
Reply by Plus500 submitted Jul 12, 2018:
Dear Sami,

We are sorry to hear that this your experience.

Since we are unable to locate your trading account based on the info provided here , you are highly recommended to contact our Support team at the following link (http://www.plus500.com/Help/ContactUs.aspx)
and they will gladly assist with any matter you need.

We can assure that our support team will provide you with the best service possible.

Regards,
Plus500.
davirlan,
españa, Spain,
Jun 13, 2018,
Registered user

plus500 I have my money

I have received my money today, it has not been because I was due to this delay but I have to say that I have received the money, perhaps it is due to mastercard because my bank can not track the ARM code nor can it expedite the return, but being sincere although the terms that say plus500 have not been met, I have received my money and everything is ok at this moment to be honest. Maybe I was alarmed by the delay in seeing other cases in which people had not received their money

Jun 9, 2018 - 1 Star Ticket 3753882 3755999 I made a withdrawal of funds 10 days ago and I still do not have my money .. where is it? they do not know .They only say that they have sent it but it is not in my bank account and they only know that they are working on it. Professionalism? Do you trust in plus500?
I made two withdrawals earlier this debit card this month and everything was correct, but now in the 3 withdrawals of money 10 days have passed and I have not received the money, they give me an ARM number that is untraceable by my bank and they just tell me that they sent it and they do not give me a solution.
I have read in the forum and have seen the same case several times ,

hey have kept my money and only give me an ARM number that does not prove anything. The transfers once sent did not take me more than 3 working days

I'm worried because by reading the other cases none of them recovered their money. I'm going to report at the FCA
and in
https://www.cysec.gov.cy/en-GB/home/
and to publish it on all social networks until I get my money back
that they have stolen.
how a company that makes millions of euros can steal from its users
Such ridiculous amounts and bad press?

They know that the number RNA is untraceable by banks and that
If that transfer had been made correctly, I should have the money in my account.

I do not have many illusions to recover the money because I have read that these cases are common


Hello everybody,

I became Plus500 member 28Mar2015.

Initially things went well;
First withdrawal (1000€) arrived pretty fast in just five days on my PayPal account.
There was no need to consult their Customer Support.

Then came time to make my second withdrawal (2000€) on 10Jun2015.
To this date I've not received it - one month has passed !

I've mailed them many, many times and at the moment I have three open "tickets" on their plus500.zendesk.com Support web site ...

30Jun2015 I got a one reply:
"Withdrawal #370373xxx was approved as a refund to card #8xxx.
You should see the funds within 5 business days in case you have online access, or on your next monthly statement."

Well - this never happened.


Their customer support is lousy.

Once you send a complaint you get automated reply in seconds telling:
"Thank you for contacting Plus500 Support.
Please note that we are currently experiencing a larger workload than usual and it will take us longer to respond your query."

And yeah - no live support nor phone numbers .

I wonder will I ever get my money back ...

he only thing they do is tell you that they are checking it out, when after being with them for a year, whenever I made withdrawals, everything was correct and I never complained about anything.

How can you say that the transfer was made if I do not have my money in the account - card? They know that the transfer has not been made or that it is wrong and they should
of returning my money immediately or is it that they like to steal in this way?
Reply by Plus500 submitted Jun 15, 2018:
Dear David,

We can see that our Senior Staff has provided you with a thorough explanation of your withdrawal request, in your correspondence with them ( #3755988).

In case you have open questions, please place those within the correspondence.
We can assure you that they will gladly assist.

Regards,
Plus500
Mary Chou,
Melbourne, Australia,
Jun 2, 2018,
Guest

Many reviews here on FPA are absolutely true. Read all of them carefully before choosing this broker! Be VERY careful!

Possibly the worst broker ever. When you lose money they update the quotes very very quickly, when your profit turns green, the quotes are updated less than once per second, sometimes the instrument simply becomes unavailable and they make it impossible for you close your position. 100% market maker who trade against you.
Reply by Plus500 submitted Jun 7, 2018:
Hi Mary,
Thank you for your comment.

Plus500 is a fully regulated CFD trading company as you can read in our website and online - https://www.plus500.com/FAQ/Regulators
For further clarification, always be welcome to contact our Support - http://www.plus500.com/Help/ContactUs.aspx

It is important to explain that Plus500 quotes prices with reference to the price of the relevant underlying financial instrument and its spread.

For any given financial instrument Plus500 will quote two prices: the higher price (ASK) at which the Client can buy (long) that financial instrument, and the lower price (BID) at which the Client can sell (short) it. Plus500’s prices can be found on our website or trading platforms.

This price is obtained from a range of independent third party reference sources, various nominated independent financial market data providers, who source their price feeds from relevant exchanges.

In addition, please note that a part of our instruments (most commodities and indices) are future based contracts, thus the rates indicated on our platform are derived from the price of the futures contract and not the rates of the underlying instrument.

You can see the information regarding the spread and a future contract in the “Details” link next to the instrument’s name on the far right hand side in the main screen of the platform.

Always be aware that we reflect the market as it is, when there is, for example, a low trading scenario in the market, based on offer and demand for the asset at that moment , you will encounter that in our Plus500 platform.

Always make sure to contact our Support instantly when encountering any difficulties (alongside with information as the relevant time frame, instruments name and supporting screenshots) and they will gladly review &explain.

Regards,
Plus500

thomas.uhlmann,
Germany,
May 19, 2018,
Registered user

Please be aware of accusations of scalping when you make profits with Plus 500.

I have to report my personal experience. I started trading with PLus 500 UK in February and made profits most of the days. Now over the last couple of days I paid in a total of 6k EUR and made profits of 6,3k. I was very happy about that.

After I requested the withdrawal of 10k (daily limit) I was informed that my withdrawal was under investigation. Since 4 days I have not got an explanation why my account was investigated. After 3 days they cancelled the withdrawal and informed me that my account is under investigation.
I asked the support several times every day to at least tell me what the investigation is about. No answer. You can't imagine the conversations I had. "Senior staff" will get in touch with you asap". You hear the same thing over and over. In my opinion when you get your account blocked it is not too much to ask why. Nobody told me why I am under investigation.
On the FCA (UK) page I got hold of a phone number of a manager. I am not sure if I understood everything correct but I think he told me my account was flagged for scalping.
As you can find online, from many other comments of traders, that is something that happened to others as well after winnings with Plus 500. You get accused of deliberate scalping. It is questionable what scalping is and if it actually can be prohibited by terms and conditions.
Be aware Plus 500 states that trades opened and closed in less than 2 minutes can be qualified as scalping. The can reverse these trades. !!!Only the positiv trades!!! Even days after the trades happened. (A funny note if it weren't for such a high amount: In the automated mail that told my account is blocked and I can't trade or withdraw my money, they told me I still will be able to deposit money to keep open positions funded. That would be really something worse calling "money down the drain").

Please note: When you are CFD trading, my experience is that you hold winning positions for a shorter amount of time. Because you want to realise your winnings.
Losing positions you might hold longer because you wait for a turning of the position. So when you have a good streak of trades you might up ending with the accusation of scalping and your account can be closed because your trades were too short. How you can "abuse" such a strategy with Plus 500 I can't understand. To close a position you have to click twice wiht a little internet delay. So if you have several positions open you need several seconds to close all positions. I very seldom sale for the price that I hit the sale button with. (That can move up or down- no complaints here. But I think the software of Plus 500 used on a normal Computer or phone cannot be abused with the short holding of a position. Positions move up and down too quickly compared to the closing time.)

So when trading with Plus 500 you have to check not only the position itself you also have to keep an eye on the time you are holding your position. So let's say you hold your trade for 1 and half minutes it might be better to wait even when the course moves against you.

Back to my case:
Right now I am still waiting on a written confirmation of why my account has been blocked. I cannot access my deposit and I can't have my winnings.
The reacting of the support chat indicates that freezing an acount with 12k in it is normal business. Don't expect any sympathie or understanding of your situation.
Today I even got the impression they are laughing behind my back.

You can imagine the rollercoader of emotions.

I am still waiting on senior staff getting back to me. So I might be able to get my money back. So I would also be fair and report a swift solution. But the 4 days of uncertainty can't be remedied.

(disclaimer: I am not a spammer but want to share my experience. So I will leave the same post on other web pages as well. I can verify my story if requested by an administrator.)
Reply by Plus500 submitted May 24, 2018:
Dear Thomas,

We can see that our Senior Staff has provided you with a thorough explanation of your account situation, in your ongoing correspondence with them ( #3706945).

In case you have open questions, please place those within the correspondence.
We can assure you that they will gladly assist.

Regards,
Plus500
JD,
Stoke-on-trent, United Kingdom,
Apr 30, 2018,
Guest

Rigged closure of trades, misinforming the traders...

Plus500 Rigged my trades...

One thing to start with before I begin talking about my experiences, with plus500, as I have a few red flags that slowly grew to my attention. Firstly prices of cryptos listed on Plus500 don’t match to the live cryptocurrencys exchanges such as Binance, Bitfinex etc.

The prices are simulations of the market, so why can’t Plus500 close trade on your requested/set stop losses and take profits.

79% of contract for differences traders lose.

Spreads are far from fair puttting the trader at a disadvantage from the beginning of a position.

Plus500 also claim that it is the traders responsibility to look over their equity and positions, however this was not the case when it come to the positions I was holding.

My positions closed after a very sharp fall which raised some red flags and come to my attention. I feel that there is some solid evidence to prove Plus500 have a rigged system put in place to put the trader/customer at a serious disadvantage.

I opened three positions totalling an equity of £1800, I had eventually gained a profit of up to £1200 at its highest point. Then it suddenly quickly declined reaching my apparent maintenance margin of £934.79, which meant that my positions needed to close in order to maintain certain positions.

Initially I had thought that once the maintenance margin had been reached, all three positions I was holding would essentially close. However this was not the case according to Plus500.

They had closed one position at a time, to maintain the other positions and allow them to stay open for example I was £220 up on one trade which had closed first in order to keep another trade that was essentially in £100 in profit open, then apparently they had to close this trade, in order to keep my main position that was losing the most money open.

However this was not what came to my attention. What had came to my attention was how each trade had closed individually and the apparent explanation or reason behind the ORDER of trades closing.

Plus500 said positions close in the order of the position with the highest maintenance margin first. This is to keep positions with a lower maintenance margin open that way there will be enough equity to keep certain trades open.

This statement above had contradicted what happened in my situation with my positions that I held.

I was holding positions in cryptocurrency, they would have been as follows:

NEO - Maintenance Margin = £408.17

EOS - Maintenance Margin = £272.47

ETHEREUM - Maintenance Margin = £254.15

The order I just listed the positions in (shown above), is also the exact same order the positions should have closed on, however they closed in a different order that did not go with the processes Plus500 claims to follow.

The trades closed in the following order:
EOS
NEO
Ethereum

The order they closed in also seemed very suspicious and tactical to some extent.

Plus500 then happened to first close the trade that was profiting the most and also with the lowest leverage, so essentially the lowest risk to myself. EOS at the time was also hedging a position and compensating for Ethereum’s losses. Once EOS had closed the losses could easily multiply.

They had then closed NEO which was also a lower risk than Ethereum and also in profits at the time.

Coincidentally NEO and EOS happened to be trading 20% higher than what I bought it and closed my positions at. and that happened within 48hrs of my trade being automatically closed, so I’ve missed out by my calculations (which are quite accurate), on a profit of around 4k.

Here is the Positions Leverages (note this is also the order in which the trades closed in, coincidence I think not):

EOS - 1:5
NEO - 1:10
Ethereum - 1:15

With ethereum being the only position open, being the only trade in the red and having the highest leverage the losses come very quickly and unnecessarily.

Even at that however I should not have fell below the equity of £934.79 (as this was my apparent maintenance margin) and this is where my argument stands the most. I woke up to my equity around £300 and my two most profitable trades closed a good three hours before this.
P.S I would not be making a complaint if my equity stood at that Maintenance margin of £934.79.

If I had ethereum close first after reaching my ‘maintenance margin’ I would have been profiting above that figure of £934.79.

So to summarise...
They didn’t close all the trades after reaching my maintenance margin.

They didn’t close the trades in order of highest maintenance margin first, (as they stated they do).

They closed the trades in highest profit first.

Closed the trades with lowest leverage (essentially risk) first, so my losses could multiply quicker with ethereum’s high leverage.

Then made it clear in the live chat that it’s the traders responsibility that I control my trades, when they took control and closed them in a suspicious/rigged fashion.

I have screenshots and pictures of my Live chat conversation with an advisor and also of my positions,
maintenance margins etc.

It’s first time using this so I
don’t know how to upload ifsomeone could advise me how to do this, that would be much appreciated...
Reply by Plus500 submitted May 9, 2018:
Hello Mr. CLIENT NAME REMOVED,

We can see your query is already under review by our senior stuff in ticket #3670697.
We can assure you that they we do their best to provide you with a detailed reply regarding any query you may have and put their best efforts to solve this matter to your satisfaction.

We appreciate your understanding.

Regards,
Plus500

The FPA would like to remind Plus500 that revealing personally identifying information that the client has not already posted in the review is unethical and may also be a violation of regulations about client privacy.
NetRof,
United Kingdom,
Mar 6, 2018,
Registered user

Smooth withdrawal and easy to use platform

Was easy to open the account, trade and then make withdrawals. As long as you know what you are doing trading CFDs the rates are very competitive. I had no issues depositing or withdrawing. Withdrawing was faster with plus500 then with IG.
Tony,
Brisbane, Australia,
Mar 3, 2018,
Guest

Plus500 SCAM

Warning: Don’t trading with them. You can create acc and deposit your money easy but when you want to withdraw that will be a different story. Thinking first because you can lost all your money. I had a nightmare with them.
Reply by Plus500 submitted Mar 12, 2018:
Hi Tony,

Our customers are welcome to request a withdrawal of their available funds at any point, as long as their account is fully verified.
In case you encounter any difficulties with requesting a withdrawal, please reach out to our Support - http://www.plus500.com/Help/ContactUs.aspx, as they will be able to explain and assist.

Regards,
Plus500
Steve,
United Kingdom,
Feb 22, 2018,
Guest

Do not use this company it’s a scam with a massive advertising and affiliate program to make it look legit !!!

Dec 30, 2017 - 1 Star I like many others have been ripped off by this company , at first with the bonus and a couple of hundred pound deposit , I made over £1000 in 3 days , amazing I'll add more I thought ,so put in another £1000 , then came the manipulation , spikes to set losses not seen by any other market , margin calls due to rates on my instruments not seen on other markets , being logged out for over half a day when in profit , greyed out buttons when in profit or trying to buy or sell , spreads changing constantly in there favour , I've taken photos of this and passed on to relevant departments , after being forced to add more and more funds ,due to margin calls to cover my positions , and me sending several emails after live chat was removed suddenly , and getting generic responses which is all I'm still getting ,instruments suddenly started getting closed , one at a loss of £3.50

Reply by Plus500 submitted Jan 11, 2018 Hello,



Thank you for your comment.



Plus500 is a fully regulated worldwide trading company.

As such, we will never be engaged in this type of questionable activity.

You are welcome read more about the regulating bodies we are bound to on our website:

https://www.plus500.com/FAQ/Regulators



Plus500 quotes prices with reference to the price of the relevant underlying financial instrument and its spread.



This price is obtained from a range of independent third party reference sources, various nominated independent financial market data providers, who source their price feeds from relevant exchanges.

We represent the market as it is.



Since we are unable to locate your trading account based on the information provided here, please contact our support team for any assistance needed.



Regards,

Plus500