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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DO YOU RECOMMEND THIS COMPANY?

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

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Traders Reviews

Niels,
The netherlands, Netherlands,
Nov 5, 2019,
Guest

Not a fair company. Making money of poor knowlegd people.

Service use: Live

Length of use: over 1 Year

This is a total scam. They make money when people lose. For example: when you put 5000 euros on your account and want to buy something. The positions opens at 4000 euro and you keep 1000 euros as "safe". The stock goes down for 5% and you will lose morgen than you got behind it. So they sell it automatically. Happend to me many times. The stocks are not accurate and sometimes not even up to date or right. DONT USE THIS PLATFORM YOU HAVE BEEN WARNED. THEY ONLY MAKE MONEY WHEN YOU LOSE IT. Thats is their bussines. And to make sure no one is going to do something about it they hide in Cyprus. When reporting a complaind they advise to contact te cypres ombudsman. This is of course unpossible because of the langauge barrier. DONT TRADE AT PLUS500
  2 traders have found this review helpful
Reply by Plus500 submitted Dec 12, 2019:
Hi Niels, and thank you for your valuable feedback.

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. Trading will not always be profitable and can result in the loss of your entire trading account balance (capital and profits).

While with Plus500 you cannot lose more than your entire trading account balance, please ensure that you only invest money that you can afford to lose, in case of unfavorable results.

Moreover, if you now feel that trading CFDs is no longer suitable for you or you have concerns regarding your trading activity and would prefer us to close your account, please let us know as soon as possible.

If you require any further assistance, please feel free to contact us at https://www.plus500.com/Help/ContactUs

Regards,
Plus500 Social Media team
Nitin prabhat,
Muscat, Oman,
Sep 4, 2019,
Guest

Avoid at all costs

Service use: Live

Length of use: over 1 Year

Do not trade with Plus500, the moment you start making money they will freeze your account claiming that your docum are not verified. It will take you months to try to verify your account because of their 0 client supports and in the end you will loose your money.
Plus500 are just a bunch of thieves
  1 trader has found this review helpful
Reply by Plus500 submitted Sep 5, 2019:
Hello.

Firstly we are very sorry to hear you feel this way.

Please bear in mind that it is highly important for Plus500 to verify your personal details. This is in order to protect both you and us from fraud as well as guard your privacy.

As well, in trading you can profit as well as lose your funds. Trading involves risks and therefore requires skills, knowledge and understanding.

Since we are unable to locate your account based on the information you provided here, you are welcome to contact our support team and we can assure you we will further assist.

http://www.plus500.com/Help/ContactUs.aspx

Regards,
Plus500
Chris,
Cheltenham, United Kingdom,
Aug 22, 2019,
Guest

It's true what people say here

Service use: Live

Length of use: 0-3 Months

Plus500 is a scam. I've been trading currencies for like 15 years and I think I know what I'm doing, yet..

Made 2 open trades 2 weeks ago with close at profit of 20 pips. As I know this market well, I just sat and waited to get a lot of profit in around a week.

Literally 20 hours after opening trades, both trades were closed. My maintenance balance was well over 10k, as I only used half the money I had on both trades.

Ended up with a loss. I will just claim fraud with my bank as this is the most effective way of flagging those p****s. I'm also in a process of reporting Plus500 to the police. I'll surely take it further because I can.

Steer away from Plus500 and find another broker, unless you really want to lose your money!
  1 trader has found this review helpful
Reply by Plus500 submitted Aug 26, 2019:
Hello.

Firstly, sorry to hear this is your experience.

Please note that Plus500 is a fully regulated worldwide trading company.
You are welcome read more on it here -> https://www.plus500.com/FAQ/Regulators.

As well, Trading will not always be profitable and can result in the loss of your entire trading account balance. Trading involves risks and therefore requires skills, knowledge and understanding.

Since we are unable to locate your account based on the information you provided here, you are highly advised to contact our support team and we can assure they will review your query in the most professional way. http://www.plus500.com/Help/ContactUs.aspx .


Regards,
Plus500
amsterdam, Netherlands,
Aug 3, 2019,
Registered user

not able to withdraw profit

Service use: Live

Length of use: 0-3 Months

It is very easy to deposit and verification is very fast.

But once you make profit.
They ask verification after verification. Suddenly the verification that passed is not good enough. They keep asking for other documents and things that don't exist.

STAY AWAY. THIS BROKER SHOULD HAVE BEEN MARKED AS SCAMMERS A WHILE AGO.
ALL THE REVIEWS ON THIS WEBSITE ARE THE TRUTH!

More. Community discussion of this issue >>

  1 trader has found this review helpful
Reply by Plus500 submitted Aug 7, 2019:
Hello,

Firstly, Plus500 is a fully regulated CFD trading company as you can read in our website: https://www.plus500.com/FAQ/Regulators

As well, it is highly important for Plus500 to verify your personal details.

This is in order to protect both you and us from fraud as well as guard your privacy.

In order for you to thoroughly review the mentioned, you are highly recommended to contact our support team in the following link -> http://www.plus500.com/Help/ContactUs.aspx

Regards.
Plus500
Greater Poland, Poland,
Jul 30, 2019,
Registered user

2 years

Service use: Live

Length of use: over 1 Year

Stay away from Plus500 - its a total scam. Carefully review Uset agreement so you will come to final conclussion that they can do with your money whatever they want, I mean wave, cancel your balance, steal your money basing on tricky clauses.
Do not try to trade options as they will charge you using hedging strategies - but they can do so as its written in theur 2018 financial statements. Do not try to open and close trades straight away as they will call you a scalper and will steal your money - but if they do so its fine - same is written in 2018 financial statements.
I've been using this platform for more than 1,5 year and it was ok as far as I have not been earning mouch money and account balance was around 5.000 EUR.
But when I grew my account was closed, monies stolen end of story - 31.000 EUR lost.

More. Community discussion of this issue >>

 
Reply by Plus500 submitted Aug 7, 2019:
Hello.

Please bear in mind that Plus500 is a fully regulated CFD trading company as you can read in our website and online - https://www.plus500.com/FAQ/Regulators.

Our customers are eligible to open withdrawal requests for their available funds at any time.

In case you have encountered any difficulties regarding your withdrawal request, balance or positions, and since we are unable to locate your account based on the information you provided here , you are kindly being advised to contact our Support team (http://www.plus500.com/Help/ContactUs.aspx)

We can assure you our team will provide you with the most professional service.

Regards.
Plus500
Malaysia, Malaysia,
Jul 20, 2019,
Registered user

Payout

Service use: Live

Length of use: 0-3 Months

Do not try plus500, they are using reviewing strategy in taking every single amount you deposited in their trading platform. I have lost 8500 there, no deposit review but in withdraw even same card u used to deposit the notorious fraudulent will swallow your money no matter how big or little. Pls be far from plus500 0r is it 5 billion
 
Reply by Plus500 submitted Jul 22, 2019:
Hello.

Please bear in mind that Plus500 is a fully regulated CFD trading company, as you can read in our website and online - https://www.plus500.com/FAQ/Regulators

Please note that in trading you can win as well as lose your funds. Trading CFDs involves risks and therefore requires skills, knowledge and understanding of these risks.

it is highly important for Plus500 to verify your personal and card details. This is in order to protect both you and us from fraud as well as guard your privacy.

In order for you to thoroughly review your account's situation, please contact our support team in the following link - http://www.plus500.com/Help/ContactUs.aspx

Regards,
Plus50
Pforzheim, Germany,
Jun 22, 2019,
Registered user

Good Broker !

Service use: Live

Length of use: over 1 Year

I never had problems with verify and withdrawals even the bonuses before had no conditions and i could payout.

Only thing is that the platform charts is a bit how to say ‚ not so good overview but it’s ok.

Best Regards
 
Reply by Plus500 submitted Oct 4, 2019:
Hello,

Thank you for your comment, we are glad to see that you are satisfied with the platform and service that we offer. Keep in mind that we are updating constantly our product, so if you have any suggestions for improvement don't hesitate to contact our Support team to hint it. :)

Feel free to contact us 24/7.

Regards,
Plus500 Social Media Team
MelJ,
West Mids, United Kingdom,
Jun 3, 2019,
Guest

No care for unsuitable beginners

I have had a very bad experience with Plus500. Their screening questionnaire can highlight your unsuitability and YET they can still allow access to inexperienced and low income consumers like myself. Not just that, you can just click on the disclaimer to gain access - even if you are mentally impaired. This is irresponsible and they respond by placing all the responsibility on the consumer. Surely they should better screen for "appropriateness" as the Financial Ombudsman highlights.

A phone call to Director Mr Weston resulted in him cutting the call dead - even though he had been informed of disability during the call.

This company has shown no compassion for the circumstances of this vulnerable consumer AT ALL. They have washed their hands

There is no way a loan would be given to them: why should Plus500 therefore permit them to lose 000's, including from a credit card that wasn't verified and do nothing? Why, on disclosure of illness, did they terminate the account? This is appalling behaviour and extremely irresponsible.
 
Reply by Plus500 submitted Jun 4, 2019:
Hello.

Please note that Plus500 is a fully licensed and regulated CFD trading company as you can read in our website and online https://www.plus500.com/FAQ/Regulators As per our legal and regulatory obligations.

Please note that in trading you can win as well as lose your funds. Trading CFDs involves risks and therefore requires skills, knowledge and understanding of these risks. Our questionnaire is part of the application to trading on plus500 considering the risks associated with CFD trading.

We would also like to mention, we do not offer phone support. While phone support may be seen as an available and fast mean of communication, our experience has taught us that communication via e-mail is more reliable and professional as it allows us to thoroughly examine each issue and consult with colleagues / superiors when needed.

Unfortunately we were not able to locate your trading account based on the information you have provided - therefore, in case you wish us to thoroughly review the mentioned, please contact our support team- http://www.plus500.com/Help/ContactUs.aspx

Regards,
Plus500
Milan, Italy,
Apr 7, 2019,
Registered user

does not give profits

this company does not give profits. They manage to maintain their worthless Cysec licence because too little people complain. Clients receive almost threatening emails from Isreali people and give up. People write to Cysec or financial Ombudsman! This company should never be granted a license to operate in this business. They are happy till you lose. If you make profit, they refuse to give it by suspending the account in question.
also, if they claim that they earn money with the spread (that is clearly not true), why don't they allow scalping (more open positions, more spread correct?) nor EA? they claim that scalping is against the market rules. but the point is that retail traders trade CFDs that are derivatives are CANNOT move the market in any way! also the quantity traded would not be sufficient to manipulate the markets, as they claim in their threatening emails.

I already wrote to Cysec with some examples of their threatening emails, I hope they will lose their license soon.
 
Reply by Plus500 submitted Apr 8, 2019:
Hello Ilanna90,

Firstly, we are sorry that you feel this way.

Please be informed that Plus500 is a fully regulated CFD trading company which reflating the situation on market directly.

Plus500’s subsidiaries are authorized and regulated in different jurisdictions around the world.You are welcome read more about the regulating bodies we are bound to on our website. https://www.plus500.com/FAQ/Regulators .

In addition we would like to inform you that although trading leveraged CFDs can result in a profitable outcome, trading leveraged CFDs also involves a great risk of losing all the funds deposited

Please note you are most welcome to contact our Support team, via chat or email - https://www.plus500.com/Help/ContactUs in order to thoroughly review your query, as we strive to improve our services and provide you with the best trading experience possible.

Regards,
Plus500
Italy,
Dec 5, 2018,
Registered user

Plus500 Affiliate SCAM

Plus500 is a full scam for every affiliate
they will lie to you and tell that you have to wait 6 months to check the traffic are you sending and of course afterall the tell you couldn't pay.....

BE far from their high offers because you won't receive a cents......

 
Reply by Plus500 submitted Dec 10, 2018:
Hello Max.

I am sorry to hear you feel this way.

Please note that Plus500 is a fully licensed and regulated CFD trading company as you can read in our website and online - https://www.plus500.com/FAQ/Regulators

In addition, you are welcome to contact our Support team in the following link-
http://www.plus500.com/Help/ContactUs.aspx and I am sure they would gladly assist.

Regards,
Plus500

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).