Plus500 Review

1.566 · 164 REVIEWS
Updated: Jul 30, 2020 · Plus500.com  · Is this your company?

Plus500 is a CFD broker. Plus 500 offers the Mobile and WebTrader trading currency platforms. Traders with Plus500 accounts can trade CFDs on underlying financial instruments such as currency pairs, cryptocurrencies, gold, silver, stocks, commodities, options and indices.

Plus500
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 FSA

FSA 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
Currencies: (55+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (20+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities
Deposit Methods: VISA, MasterCard, Local Bank Transfers, PayPal, Skrill
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, PayPal, Skrill

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1.566 · 164 REVIEWS
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Traders Reviews

Silvia,
Zurich, Switzerland,
Apr 4, 2020,
Guest

Cannot get my money back

Service use: Live

Length of use: 3-6 Months

1. It has been 8 business days since I made the transaction from my bank but my funds have never appeared on my account. Every time I contacted Plus500 they said they have transferred my request to the relevant department.
2. I made the withdrawal two business days ago and I can still cancel the request, which meant they have not executed the money transfer after two business days.
3. Although most of my money (like about 73%) are deposited via Klarna (so via bank transfer), at first they say my withdrawed money will go back to my credit card because that's what I used to verify my identify. However, that was the only way to verify my identify when I tried to open the account. In addition, this rule does not match with what they claim online, which is they always try to transfer the money back to how it is deposited in the beginning. Considering the processing fees for the credit card, I would not choose Plus500 if I have not been fooled in the beginning.

Most people here talked about its dynamic spread etc. However, most of the instruments on Plus500 have fixed spread so I kinda disagree with what most other people say. But my issue is on another level. Do not choose this broker because it's a pure fraud. I cannot even call them because they don't have one.
 
Reply by Plus500 submitted Apr 6, 2020:
Hello,

Thank you for submitting your feedback.

As you are already aware CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Although with the above, we recommend that you should be aware of the progress of your positions all the time. The market volatility could change at any time and positions that are on profit could turn in loss and vice-versa. At your disposal, you have tools in our platform that could manage the risk and that could bring more control in your trading activity.

Some of our instruments are offered with a fixed spread, while others are offered with a dynamic (variable) spread.

A fixed spread, means that the difference between the Buy and Sell rates is constant. A dynamic spread is continuously updated throughout the day and is adjusted in line with the market spread.

If you find the terms we offer for a specific instrument not suitable for your trading strategy, we offer a variety of over 2000 CFD instruments on forex, stocks, commodities, indices and more, which may be of your interest.

We always aim to provide the best trading terms for our instruments in accordance to the ones received from our providers and in line with our regulatory obligations.

Regards,
Plus500 Social Media team
London, United Kingdom,
Apr 1, 2020,
Registered user

designed to make you loose

Service use: Live

Length of use: over 1 Year

The dynamic spreads and methods used for pricing of instruments (which is not transparent) makes Plus500 one too avoid.

Its basically not much more than a scam to make you feel like a trader but in actuality it’s designed to sap your money. They only make money if you loose money bear that in mind.

Thats why ~80% of their clients loose money. If it was fair it would be a figure close too 50%! Think about it.

Plenty of others in the market now. Be careful, do your research and avoid Plus500
 
Galway, Ireland,
Mar 27, 2020,
Registered user

The worse broker ever.trade like cassino with dynamic spread stay away.

Service use: Live

Length of use: over 1 Year

The worse broker ever.trade like cassino with dynamic spread stay away.

You will lose money if:

1.Trade stocks:
The price is completely different from the real price they wait at least 1 or 2 (1cents, 1euro, 1dolar ans so on to )update their prices.The spread is very high.If you make a wrong move you never come back to green.

why you go for a broker when the price is completely different, the spread is very high, pay for overnight, and dont show the volume of the stocks, and the stocks are very you cannot trade after before hours, and sometimes the button Sell/buy is disable? it is your money..

Lets say you bought 12.000 ascena shares the price in the market is bid.36 X ask 0.37 and +plus500 would be .33 x .34 or sometimes .32 x .33
.if the price goes up they will update the price only when the price up to .38 or .03899 without decimals.

Overnight fund is very expensive it is very hard to maintain a portfolio or go long with small account.

You can't open 2 screens for a trader, it is very important or login in 2 devices.

2.Option:

The same for stocks If the price goes up they wait to update the price.
but if the price goes down they update the price very quick. if you have a small account you always lose.

3.When I started trade I thought that I did not know how to trade. I lose a lot of money. So I started with another broker for some reason I am profitable now.

4.I don't know who allowed this company to work as a broker but I don't recommend to anyone.

6.Deposit and Withdrawal
I never had a problem.
 
Reply by Plus500 submitted Apr 2, 2020:
Hello,

Thank you for contacting us.

Plus500 is a fully regulated CFD trading company as you can read on our website and online https://www.plus500.com/FAQ/Regulators

Be informed 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.

Plus500 offers a fixed or dynamic spread for its instruments. The calculation of the Spread can be conducted by subtracting the sell price from the buy price of the instrument. The Dynamic Spread can change during the period of which your position is open, whereas the fixed spread remains unchanged at all times.

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 Spot Price 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.

Should you require further assistance, feel free to contact us.

Regards,
Social Media Team
Dubai, United Arab Emirates,
Mar 15, 2020,
Registered user

Fast and reliable platform

Service use: Live

Length of use: 6-12 Months

I have been using plus500 for the last 1 year, i like their web platform better than other brokers, they do not provide MT platforms. This platform is very compatible with mobile and provides easy to u understand data points to start and close a trade.

Their margins are low and it is good for someone to make quick decision for buy and sell.

Their payment methods are standard and withdraw to paypal is 2 working days which is very convenient.

Please ensure you upload all documents and get it verified before deposit and make profit on live account

They have ontime chat service who can assist you in basic and their backend team are prompt in resolving cases

The worry is not having mt4 therefore difficult to use EA kind of services for desktop once you start becoming expert in trading.

They do not offer scalping which is a downsize, so if you are expert HFQZY trader it may not be the right platform

Make sure you have enough funds and with a right trading plan you can be happy with plus500 and enjoy their surprise bonus.

Good luck
 
Reading, United Kingdom,
Feb 29, 2020,
Registered user

Not worth your time

Service use: Demo

Length of use: 0-3 Months

My friend uses this brokerage and so I thought I would check them out to verify their usefulness.

Their tools are setup for you to fail:

-The default time is 1m.
-There's only the most basic tools for trading, could probably count their aggregate total on two hands.
-You can only use their inhouse web app which is laggy and illsuited for trading.
-There's no way to download historical data,
-There's no ability for you to code your own indicators or trading robots.

Furthermore, their terms and conditions are beyond belief:

-They have a severe conflict of interest with their customers as they always take the other side of the trade: this isn't disclosed sufficiently either.
-There's some line in the order execution policy about explicitly consenting to trading on an unregulated market they create.

I could go on, but you get the gist? Use a better brokerage.
  2 traders have found this review helpful
Portsmouth, United Kingdom,
Feb 10, 2020,
Registered user

Price fixing

Service use: Live

Length of use: 0-3 Months

Price Fixing. Plus 500 will alter the market price of an instrument in their favour . the will keep the price of an instrument 5 - 10 cents below the market value so profits are not hit and stop losses are hit easier. Ive had a very interesting conversation with support who just wont give a straight answer .
  1 trader has found this review helpful
Reply by Plus500 submitted Feb 13, 2020:
Hi Chris and thank you for your valuable feedback.

Be informed 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.

Plus500 offers a fixed or dynamic spread for its instruments. The calculation of the Spread can be conducted by subtracting the sell price from the buy price of the instrument. The Dynamic Spread can change during the period of which your position is open, whereas the fixed spread remains unchanged at all times.

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 Spot Price 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.

Should you require further assistance, feel free to contact us.

Regards,
Social Media Team
London, United Kingdom,
Jan 1, 2020,
Registered user

Sports direct for trading

Service use: Live

Length of use: 6-12 Months

its cheap, cheerful and simple but if you ever want to go an extra yard, you wont find it there. I used plus 500 as my first broker out of university because most of the students in my finance club were using them. But as soon as I wanted to develop my trading i.e. analysis, news, fundamentals, they are so limited. Plus dont ever expect to speak to anyone there be it customer service, account managers or trading, you can never get them on the phone. They are mostly automated or email/chat only. So all in all, they are great t start with but if you are serious about trading, its best to find a more professional platform.
 
BOGOTA, Colombia,
Dec 25, 2019,
Registered user

PLUS 500 ES UN BROKER TRAMPOSO Y ESTAFADOR

Service use: Live

Length of use: 0-3 Months

In September pf 2019 I opened an account in Plus 500, I started trading, and on November I began to have suspicions because the operations that had more profits were invested in me, and thus I always lost and my account seems closer to finishing. I made the claim to the supposed technical support, they compensated me $ 30 and the problems continued, I complained again and the answer is the same everything is fine. PLEASE DON'T FALL INTO THESE TRAPS. DON'T SAY I DON'T WARN YOU.

En Septiembre 2019 abrí una cuenta en Plus 500, comense a operar, y el me de Noviembre comencé a tener sospechas porque las operaciones que tenia mas ganancias se me invertían, y pues así siempre perdía y mi cuenta da ves mas cerca de acabarse. Hice el reclamo al supuesto soporte técnico, me compensaron $30 y los problemas siguieron, volví a reclamar y la respuesta es la misma todo esta bien.

ASÍ QUE NI SE LES OCURRA CAER EN ESTAS TRAMPAS.

DESPUÉS NO DIGAN QUE NO LES ADVIERTO.

Oct 16, 2019 - 1 Star ABRI UNA CUENTA CON PLUS 500 EN MES SEPTIEMBRE 2019 Y DESPUES DE OPERAR 15 DIAS ME DI CUENTA QUE SIEMPRE QUE IBA GANANDO BUENAS UTILIDADES SE ME INVERTIA EL CIERRE CON LA APERTURA, Y PUES ASI SE PIERDE, HICE EL RECLAMO POR CHAT, ENVIE FOTOS Y EXPLICACION DE LA SITUACION Y HASTA LA FECHA TAN SOLO ME HAN REINTEGRADO 33 MIL PESOS . EL PROBLEMAS ES QUE FUERON MAS CASOS Y NO ME HAN RESUELTO Y MENOS ME HAN VUELTO A CONTESTAR. ASI ES MUY DIFICIL , LO MAS SEGURO ES QUE SE PIERDA. ES MAS LOS SPREAD SON MAS GRANDES QUE LOS DEMAS BROKERS.

I OPENED AN ACCOUNT WITH PLUS 500 IN MONTH SEPTEMBER 2019 AND AFTER OPERATING 15 DAYS I realized that I was always earning good profits. EXPLANATION OF THE SITUATION AND UP TO DATE SO ONLY 33 THOUSAND PESOS HAVE BEEN REFUNDED. THE PROBLEMS ARE THAT THEY WERE MORE CASES AND HAVE NOT BEEN SOLVED AND LESS HAVE BEEN REPLACED TO ME. THIS IS VERY DIFFICULT, THE SECURE IS MISSED. THE SPREAD IS MORE BIGGER THAN THE OTHER BROKERS.

Reply by Plus500 submitted Oct 18, 2019 Hello and thank you for your feedback.



We are sorry to hear that you are not satisfied with our procedure. Please, be sure that we strive to improve our services and provide you with the best experience possible.



We recommend you to contact our Support team once again in case you have specific suggestions and they will gladly assist in any matter.



Regards,

Plus500
  1 trader has found this review helpful
Reply by Plus500 submitted Jan 2, 2020:
Hello,

Thank you for submitting your feedback.

As you are already aware CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Although with the above, we recommend that you should be aware of the progress of your positions all the time. The market volatility could change at any time and positions that are on profit could turn in loss and vice-versa. At your disposal, you have tools in our platform that could manage the risk and that could bring more control in your trading activity.

If you want to know more about them and how to use them you are most welcome to contact our Support team and they will gladly assist in anything. https://www.plus500.com/Help/ContactUs

Regards,
Plus500 Social Media team

Brasov, Romania,
Dec 23, 2019,
Registered user

Looks like nothing changed

Service use: Live

Length of use: 3-6 Months

I had an account with them years ago, but as I read the last reviews of them, look like nothing changed. Still not a good company to make money. Back then they had a $50 welcome bonus. I guess they could do that only if they know clients will finally lose it anyway.
  1 trader has found this review helpful
Reply by Plus500 submitted Jan 2, 2020:
Hello,

We have managed to make a lot of updates on our platform so now our clients could enjoy even more the trading with CFDs and all the available features in the platform which helps to improve their technical and analytical skills.

You are most welcome to try the Demo mode and see the difference before/after. If you find enjoyable the platform and the way it works, you can register your account and trade with us at any time.

If you need any help please contact our Support team and they will gladly assist you in anything. https://www.plus500.com/Help/ContactUs

Regards,
Plus500 Social Media team

UK, United Kingdom,
Nov 30, 2019,
Registered user

Service use: Live

Length of use: over 1 Year

Completely rubbish and Very bad customer Service witch one is ignoring your complain... If you want lost money they Will help you Very well.
  1 trader has found this review helpful
Reply by Plus500 submitted Dec 13, 2019:
Hello and thank you for the provided feedback, it is really important for us. We are sorry that you hadn't an agreeable experience with our Customer Support team, and we assure you that we will take action on it if you provide us with more information regarding the case.

We do acknowledge the emails/complaints from our customers on time as we aim to provide the best possible service for you, so it shouldn't happen what you mentioned in your comment, and we kindly ask you to double-check your inbox or to get in touch with us in order to solve your case.

Thank you in advance for the collaboration and understanding.

Regards,
Plus500 Social Media team

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.

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).