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
Forex Peace Army
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

Greece,
Sep 4, 2017,
Registered user

Enormous delays for affiliates and they will not give any commission unless you bring them 180 days traffic non-stop. They are just scammers.
 
Reply by Plus500 submitted Sep 6, 2017:
Hello there!
Thank you for your comment.

Your matter should be and can be resolved with our affiliates team only.
Please go ahead and contact them for any assistance needed affiliates@plus500.com, or by filling in the 'Contact Us' form:
http://www.500affiliates.com/Help/Support.aspx.

Thank you,
Plus500
Felipe,
Spain, Spain,
Dec 13, 2017,
Guest

Keep away from this 'broker'

I would like to warn traders of using any broker that offers bonuses and sponsors football clubs, as Plus500 does. The only thing they want to do by sponsoring football clubs is to attract potential customers that spend their money in sports bet, which at the end is the same business model as a pure market maker: if you lose, they win.
 
Reply by Plus500 submitted Dec 24, 2017:
Hello Felipe.
Thank you for your comment.

We would like to explain the following as for the order execution, in reference to your trading account:
Clients trade CFDs directly with Plus500CY and Plus500CY is the counterparty to the clients’ trade. Plus500CY acts as the sole execution venue i.e. all trades are executed by Plus500CY on behalf of its clients using the Plus500 trading platform and for each trade an identical hedge trade takes place between Plus500CY and the Company’s counterparty which means that customers’ aims are more aligned with the Company own aims.
All trading activity is 100% automated, in respect of both you and Plus500, which ensures the prompt, fair and expeditious execution of client Orders.

We would also like to emphasize that, Plus500 is a fully regulated CFD trading company as you can read in our website and online - https://www.plus500.com/FAQ/Regulators


Should you need any further clarifications please do not hesitate to contact our Support - http://www.plus500.com/Help/ContactUs.aspx

Happy Holidays,
Plus500
Dortmund, Germany,
May 22, 2020,
Registered user

Lost 1500 Euro with scammer Platform.

Service use: Live

Length of use: 0-3 Months

I had opened the account on Plus500 last week in Germany. I am doing trading for the last 15 years. I’m not quite as familiar with CFD “brokers”.

I had 5 positions for Crude Oil on different strike prices with expiry on 15th June 2020. (Put 24@100 options, Put 24@250 options, Put 33.5@100 options and two Put 34.5@100 options). I have predicted the movement of Oil Price, since the last 6-7 trading sessions Crude Oil prices were going upward movement. So, that is why I bought put options.

Initially, I got the first surprise the spread price at strike not similar. Whatsoever you buy on the spot options position will be negative.

May 12th 2020: I had bought Put 24@100 options. I noticed that there was margin warning by email So on the spot I added money on my account. Same time Oil price was going up so my position was in loss every day. I surprise Why Plus500 hasn’t written down position.

May 20th, 2020: Since 6-7 session oil was up. I predicated now oil will bring down in the next session. That is why I added 4 more positions with a complete margin amount. Plus, I added an extra amount in worst-case scenario positions won’t cut off. When The trading opened on 21st May 2020 morning, the all strikes price was called off and the reason was given that margin call issue. How can be Margin problem could be there, just one hour before everything was fine and just in one hour everything changed. When they realized that I start to make a profit Plus500 has written off all positions. I lost around 800 Euros. The reason was given by Plus500 was the margin call issue.

One worst thing was, on 21st May 2020 Oil down by 2.5% and next day oil down more than 8%. Practically, I would be in more than 700-Euro profit. I did a lot of research and put a lot of effort to mentally and physically. I lost 1500 Euro due to such a scam platform.

One more thing, I noticed that Plus500 close or freeze the screen for a short period when you start to make money.

I feel like, I cheated on this platform. I lost my hard-earned money due to such a scammer platform. I raised the complaint against them they are showing the rules and regulations. I´m completely shocked by how this platform can be legal in the UK. They are playing with hard-earned money peoples.

I feed ashamed that I had handed over the money to this kind of person. It says in short terms "WE have ALL rights to take all of your money at any time with or without explanation - YOUR rights are NONE"

If they charge us, I don’t have any problem paying them. But don’t play with innocent peoples.

Please don’t use this platform, and please also suggest your friends as well.

I’ll also write my blog on Facebook as well as other social media. I also plan to make detailed video and put into the YOUTUBE for awareness.

I’ll be looking to take legal options against this such scammer platform. I am looking forward to taking action against by lawyers.
 
Dean Wegemans,
Amsterdam, Netherlands,
Jan 18, 2015,
Guest

To be avoided at all costs. Suspected of manipulating their graphics for their own benefit. Big wins are being blocked by system failures. It is in fact a Israelian software company not a financial organisation banned from Belize and Cyprus.
 
Chingching,
, Hong Kong,
Jun 13, 2016,
Guest

Hi all,my name is Ching and I come from Hong Kong, please forgive me my English is very limited, I tried my best to share my experiences about trading in Plus500( my account : 74597618), seriously it is TOTALLY NIGHTMARE and they are SCAMMERS 500% for sure! Please kindly read before you join Plus500, or you can search ton of similar cases in the internet.

They made me so frustrated in this two month and I tried to end my life because of my stupidly that believed a registered scammer Plus500 company, lucky I got the hearty support from my friends and family, and they encourage me to post on internet to alert everyone, complain to ASIC and others related department such as AU police.

My ID, address, phone, credit card all of the info are totally validated previously, and then in April, I lose the money in a row of trading, but after that I won a bit and finally I got USD28000 in my account ( 1/3 from my deposit and actually it still cannot cover my lose ).and then I started the withdrawal, I requested and waited few days, firstly they asked me to submit the doc for validating AGAIN, I felt weird because it was validated so long ago and it show full green ticked, Ok fine I resubmitted the photo and after few days, they replied that they want the doc in full of English ( actually it is Chinese + English bank statement ....) ok I discussed with the agent he said it is ok and so re-resubmit the SAME picture again! Few days again, my account pop out a message box saying my account is Restricted...!! I SHOCKED and keep contracting the agents, they all replied the same "relevant department was checking my issue"..................................
At that moment, I searched in internet, so many cases against Plus500 and I started to feel scaring because it is my real money! Feeling scam because they didn't check your account until you Win. I found that so many peoples were banned because of scalping ( please correct me if i spell wrong ) and hedging, and most of the cases shown Plus500 no specific rule and guide to judge what is scaleping, I tried to protect myself, contact and warned them " please don't try to cheat and steal my money! I searched and know what is sclaping and hedging! I didn't do that I am sure!".....They just foward the message to senior team, and Two weeks after, a senior name Amy ( actually I found so many trader were banned by her ), she contact me and say, my account was banned because of "connected account + hedging" in their company group! I was keep contracting them via email and live chat, but they keep using the user agreement section 19.10 as the shield and pointing some of my trading action are similar ( YES they say similar, so wide judgment)to other account! and I asking them to show me the prove because it is cheating my money at all, and then there is no more reply after their email "title: Final Response", that's so rude and scamming! Therefore I just sent the complain to ASIC and trying to contact the AU police.

Again, it is a bloody nightmare to me, I cannot believe my money was stolen so violent!!! Everyone please beware Plus500, what I said are real and you can search in the internet!

I am nooooooo idea why they can still have the license, please contact me if you would like to group all of the complain about their license because I am going to do that in another complain.
 
Reply by Plus500 submitted Nov 16, 2016:
Dear Ching,

We have located your correspondence with our senior staff and as far as we can see, you have not responded to our senior staffs last mail.
Since you seem to be very frustrated, we highly recommend to carry on your correspondence with them.
We are sure that our most dedicated senior team will resolve the matter to your satisfaction.

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

Regards
Plus500
Slovenia, Slovenia,
Dec 13, 2017,
Registered user

Total scam.

Total scam. They have closed my position with a spike that none exchange on the web has noticed. Their support response time is pretty fast, but only sending copy-paste answers. Soo only one word - Plus500 is terrible scam broker.
 
Reply by Plus500 submitted Dec 24, 2017:
Hello,
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
As a such we are not engaged in any questionable activity, as implied.
We would gladly clarify any question you might have on that matter.

As for our rates, reflected in the platform:
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.

Bear in mind that 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 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.

Should you require any further assistance, feel free to contact our Support anytime!

Happy Holidays,
Plus500

Mike,
, Switzerland,
Apr 26, 2015,
Guest

they are the worst sh** I never ever seen !

are scammers ! with license of regulators to steal !

already worked with about 10 brokers and never happened to me what happened with this sh** !


Plus500 breaking the regulator rules . Do not close margin call even after your account balance minus get .

When that result to losses , Plus500 is stealing money from clients to cover them! They take from my waiting withdraw money

if you are losing money all goes well .

when you earn money and want transfer it for your Bank account , the problems begin. you never see your profits.
 
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.
Felix W.,
Berlin, Germany,
May 20, 2015,
Guest

Plus500 does not really have a good reputation because of the way it treats clients. Bot now if you guys have been following the news, plus500 froze some 55% of it customer accounts and is paying dearly by falling stocks. Just though I share the news before someone decided to join plus500.

http://uk.businessinsider.com/israeli-spreadbetting-firm-plus500s-stock-is-bombing-after-freezing-accounts-money-laundering-2015-5
 
Hood, Australia,
Sep 30, 2017,
Registered user

Charges premium fees (hidden fees) SCAM

This is one of the smartest scams that I saved myself from by actually reading their terms and services.
I saw their advertisement:
0% commission

i started wondering what's the catch
so here's the catch:
if you buy $500 worth of Facebook stock (example)
Every day at 8 Am you have to pay them $10 premium fees ( CRAZY ) so every day you are losing $10. The customer services ( live chat) employees are trained professionals and they will never tell you about this. It took me 30 minutes of discussion with live chat before this guy finally admitted it.
 
Reply by Plus500 submitted Oct 2, 2017:
Hello there.
The information regarding the fees charged are stated clearly in our website and is no way a hidden fact.
In the instruments details (i) in the platform you will also be able to see the trading conditions offered, such as the premium % and the premium time.
The premium fee will be charged should you hold your position open after trading hours, at the stated premium time.
The fee (premium%) is related to how big/small your position is, meaning to its value.
We will gladly review your correspondence with our Support in this matter, should you wish to share the ticket ID or your account ID.
For nay additional information, our Support agents are at your service via chat or email.
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).