Plus500 Review

1.567 · 166 REVIEWS
Updated: Nov 16, 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
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 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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1.567 · 166 REVIEWS
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Traders Reviews

Petr Sedivec,
PRG,
Sep 15, 2011,
Guest

decent mobile (iphone/ipad) trading platform (charting very basic), delays in execution and frequent re-quotes.

frequently, however, quotes on open positions are completely off market (such as 5points below the actual S&P500 on one of my open positions).

customer support very basic, didn't bother to reply to any of my 3 emails asking explanation why they quote my long open position well below the market. (can prove on request)

avoid.
 
Rob,
Netherlands,
Sep 20, 2011,
Guest

I traded quite a lot on the plus500 platform and made some handsome profits. Then they closed my account and confiscated all profits because I would have been scalping, at plus500 that would be any trade shorter than 5 minutes. Be warned that they will take all of your profits as soon as you have a single trade shorter than 5 minutes!!
 
zac,
malaysia,
Sep 24, 2011,
Guest

Before i start trading, i read a lot of bad news about plus500.
Now, i am active in this platform and it is good, providing chart and you can select the indicator that you like.
The most important part is i SUCCESSFULLY withdraw my money, just take a bit long time (1-2weeks).
Erm, something bad is the return rate quite low compare to anther platform.
 
Mikko,
Finland,
Sep 25, 2011,
Guest

Today got an email from plus500, they just closed my account for the reason i did scalping. Infact they want you to lose the money even you are in big profits; you have to wait for 5 minutes to close, any trade less than 5 minutes will be considered as scalping so they have good reason to deactivate my account and will eat the profits themselves.
I feel myself little lucky as well as i had already withdrawn the major amount 2 weeks ago but still 1K euro was left them :(

I warn all readers, try to avoid plus500.com because if time frame of any of your trade is less than 5 minutes, they can do the same with you. Better to try other broker.

Regards
 
Marcel,
Netherlands,
Oct 12, 2011,
Guest

Today, I received an email from Plus500 stating that I am scalping if i close a trade within 10 minutes from opening it. They then directed me to wikipedia for more information about scalping (turns out they believe i do 1000's of trades a day for a small profit, lol). After googling a bit i found out that they mention but dont specify 'scalping' in their user agreement. Turns out 10 mins is the minimum time one needs to hold on to a trade with this 'broker'. Since i always set my stop as close to my opening as is possible by their platform (12pips) the chance i get stopped out before 10 minutes is over is huge, therefore i will need to lower my leverage and set much larger stops, greatly affecting my profitability. The funny thing is that when i was losing money, they didnt bother with me at all, but now that i actually made some profit, they give me a 10 minute timeframe before i can close my trade, so that i will have to run great risk in these volatile currency markets. Because of this, I am pretty sure they profit from your losses. Please stay away from them!
 
verry,
singapore,
Oct 19, 2011,
Guest

I am unable to withdraw my money

They will ask you, ID card, Credit Card, Utility Bill, Passport, and you will see your credit card being used everywhere

pluss 500 is scam

they will strip your Card and Identity.....but They will not show their identity

No Phone, No office
 
PS,
, Greece,
Nov 21, 2011,
Guest

-Changing trading hours without notification, lousy diagramms, terrible client service, automated- like emails, seem not to understand the essence and/ or severity of issues put on them.

+Thank god i wont be paying them any longer, learnt what real trading is NOT about, became wiser.

A-V-O-I-D.
 
Peter336,
NSW, Australia,
Jan 26, 2012,
Guest

From reading 75-85% people review Plus500 as a scam, I want to get my remaining $938 dollars out of there after trading for about 3 months. If I send my 2-3 forms of ID will they use this info for more fraud? Will they give me my money back? Why aren't FPA investigating this company?

Review Moderation Team Note; If you want the company investigated, you'll need to open an FPA Traders Court case and actively participate in it.
 
Mario Zebbugi,
Malta, Malta,
Feb 23, 2012,
Guest

Plus 500 is not a scam... I had deposited 2,000 and read your comments that is a scam.I panicked and withdraw 1,500 and spent 3 days worring because of you a**holes.Today Ive recieved them in my paypal account .They are legit I dont know why all this scam talking its al bullsh*t,all these clowns are saying that its a scam didnt invest properly and lost money and they want revenge on 500plus...I know its hard to believe but they are registered with FSA you can check yourself and I dont know why I believed you fools...Ive learnt a lesson from this dont listen to fools find the facts(FSA is a good proof)
 
DAniel,
Porto, Portugal,
Feb 29, 2012,
Guest

HUGE scam company!

At te begining everything was OK, but when making some money and try to withdraw, they simply CLOSE your account. Thay only send you an automatic e-mail, It's very hard to get a personal ansewr to the e-mail, they only made up excuses to keep your account closed...I have a more than 8.000eur account blocked!... so keep away from them, no telephone number, and only automatic e-mails answers....
 

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).