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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DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

I lost a lot of money due to 500plus,
Netherlands,
Nov 23, 2017,
Guest

REMEMBER THEY HAVE THE RIGHTS TO SREW YOU OVER

First off I always read every word of the terms of conditions, Order of execution policy ect. And it clearly states that ->

2.3. "You are providing your explicit consent to your orders being executed outside a regulated exchange or multilateral trading facility" Therefor yes Plus500 is regulated, but the exchange that your money is trading on is not!

2.4. "All prices offered by Plus500 are provided by its parent company, Plus Ltd.
Easy market maniplulation.

3.1.1 "Plus500 undertakes all trading as principal to its customers transactions, it hedges its net risk with counterparties which means that customers aims are more aligned with its own aims notwithstanding it is acting as principal in all transactions. As Plus500 does not provide investment advice no conflict can arise from this source. It is not within the scope of the Firm's regulatory permissions to provide investment advice. Plus500 only offers CFD's, therefore any conflict which could arise between different product lines cannot exist." This means they are never responsible for anything other than CDF's

ALSO THE MOST IMPORTANT POINT HERE IS "we act as a counter party" as stated in the Order of execution policy. They make money when you lose money it is in their highest intrest to make you lose all your funds!

This speaks for it self.

But I had to try for myself what it was like, and as expected the market moves always in a way for you take lose money.

The order only goes thru when its at its highest, the order only closes when you make as little as possible.

Oddly sometimes positions will be unable to close whilst the market is going down really quickly.

Although it is possible to make a small amount of money every day. The odds are highly stacked against you. They will probably find a way to take your money anyways, by closing your account opening positions you don't want.

REMEMBER THEY HAVE THE RIGHTS TO SREW YOU AND YOU AGREED.

"also there is a class action against 500 ongoing rn
 
Trader,
United Kingdom,
Nov 20, 2016,
Guest

You're better off trying your luck at a Casino rather than Plus 500 SCAM!!!

My conversation with Plus 500!!!! Say's it all! DO NOT USE THIS COMPANY

Martin
Hello. How may I help you?
I'm here to answer any questions you may have. To communicate with us in this chat, please type in your message and press enter to send it.

Trader
Hi Martin Hello! Can you please help me with few questions? Firstly do Plus 500 have a minimum time to be in a trade as when you're scalping? Please be specific to answer my question without giving me any website details and I would appreciate straight talk!
Martin

Opening and closing a position in 2 minutes or less, might be considered as scalping. The full definition of Scalping can be seen on the User Agreement.
Any trader suspected in using such a trading method or any other foul use of our platform will have his trading account immediately terminated and all, if any, positions will be made void.
Can I help you with anything else?

Trader
Can you please clarify as you say ", might be considered as scalping. The full definition of Scalping" Your word might be doesn't mean any thing either you confirm properly and clarify your self??

Martin
Sir, as I mentioned, Opening and closing a position in 2 minutes or less might be considered as scalping.
Please read the full definition in the User Agreement.
May I assist you with anything else??

Trader
11:16 pm
You did not answer my question???Thanks for being an a******

Martin
I answered.

Trader
You f***ing did not clarify!!!

Martin
If you close positions in 2 minutes or less, your trading account will be immediately terminated

Trader
Thank you for clarifying my question..

Martin
In addition, please avoid using offensive language
You are welcome
Is there anything else I can do for you?
1 October
 
Reply by Plus500 submitted Nov 22, 2016:
Hi Trader,

Please let us clarify, that Scalping is a prohibited trading strategy and considered as a foul use of our plus500 trading platform.
Scalping is referred to in our User Agreement, which you may easily find in our website.
Briefly, this Clause states: “You will not enter into any Transaction which falls within the definition of Scalping or automated data entry system”.

As was explained in the chat, opening and closing a position in 2 minutes or less, may be considered as scalping.
A trader is considers as scalper when using a systematic trading strategy of holding short-term positions.
Please be aware that when examining a scalper- we look at the overall trading activities, rather that just on a certain position.

We can assure you will be notified, should you ever be suspected of using such a trading method.

We hope now to have shed more light on that issue.

For any further clarifications and questions, please feel free to contact us 24/7
http://www.plus500.com/Help/ContactUs.aspx

Regards,
Plus500
Perth, Australia,
Nov 13, 2017,
Registered user

Not trustworthy - do not use them

DO NOT USE PLUS500 !!!
I signed up over 1 week ago and transferred a sizeable sum across. The funds are lost and the response form Plus500 is a disgrace. I am giving them 1 more day before I call in the cops and regulatory authorities.
Do not trust this bunch, very unreliable !!
 
Reply by Plus500 submitted Nov 15, 2017:
Hello Alane,
The situation you describe lack of any explanation on what happened with your deposited funds, whether they were lost while trading or was the deposit incomplete.
Since we are unable to track your account or correspondences with our Support based on the information provided here, we unfortunately unable to review your case and understand the situation.
We can assure you, in case you have contacted our Support in this matter, that our Senior Staff is handling it and will gladly provide with assistance and guidance, as well with answers to your open questions.

As for Plus500, please be informed that we are 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 and are bound to strict rules.

Regards,
Plus500
Giles,
London, United Kingdom,
May 24, 2017,
Guest

Scum

What a scam , trying demo lures you into false sense and I'm likely to get better customer service in a burger king.
 
Reply by Plus500 submitted May 25, 2017:
Hi Giles,
Thank you for your comment.

Since we value the feedback we receive by our costumers and are always striving to improve by learning and reviewing, please contact us with your account details.
http://www.plus500.com/Help/ContactUs.aspx


Thank You,
Plus500
Social Media Team

Scotland, United Kingdom,
Jun 26, 2020,
Registered user

Blatantly cheated by plus500

Service use: Live

Length of use: over 1 Year

I was blatantly cheated by PLUS500 .
I had two small gold option trades which were break even and nowhere near a margin call then suddenly both positions were closed.
I thought something must have happened and consulted the chart.
There was a move down in my favour and should have closed one of my trades at t/p but it closed both trades and margin called at a way higher price that never existed. The price was 52 - They closed my positions at over 61.
There is not a chart on this earth that showed this price.
I have screenshots of the time they closed the trade.
It never went within 9 points of what they closed it at - not even a fake spike.
It hit my take profit target but the closed both my trades on margin call.
This is one of the most blatant trading frauds you will ever see.
I have all the screenshots and assume one of their novice traders must have been working from home because of covid and been drinking and closed me out as my T/P was hitting and made a complete mess of it- The chart for that exact time had NOTHING in common with the price AT ALL
No excuses, they were caught red handed
This is disgraceful.
The trade id's are on the screenshots showing they closed them at over 61.
The chart screenshot PROVES It was barely above 52.
No way will they get away with this.
Absolutely hilarious!
TAKING THEM ALL THE WAY
 
metin,
perth, Australia,
Sep 7, 2017,
Guest

rip off!!

i bet $500 on bitcoin and next day nothing was in my acct when i asked customer support they havent provided me anything said unfortunaletly i lost all my coins... this os totally rip off!!!!
 
Reply by Plus500 submitted Sep 11, 2017:
Hi Metin,
Thank you for your comment.

Please take into consideration that trading CFDs involves risks and therefore requires skills, knowledge and understanding of these risks and may not be suitable for everyone.
Leveraged trading activity involves substantial risks for losing all of the invested funds in a short time period.

If you wish for us to review your case, please provide with your account details, and we will gladly look into it.

Thank you,
Plus500
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

Yazid,
Singapore,
Mar 18, 2011,
Guest

I opened an account with them and had problem with them from the start. They tried avoiding giving the bonus with the silliest reason ever and instead ask me to deposit real money.
Below is an email extract:-

Hello

Thank you for contacting us.


Like stated before, we can not approve another phone approval bonus.

Regardless we will be happy to offer you a bonus for your first deposit,

When you make your first deposit, use one of these bonus codes:
FIRST100: Deposit 100 Dollars/Euro, get a 30 Dollars/Euro bonus.
FIRST500: Deposit 500 Dollars/Euro, get a 150 Dollars/Euro bonus.
FIRST1000: Deposit 1000 Dollars/Euro, get a 200 Dollars/Euro bonus.
FIRST5000: Deposit 5000 Dollars/Euro, get a 1000 Dollars/Euro bonus.

To do so click on "Funds Management", then "Deposit" then use one of the bonus codes above and enter it in the "Bonus Code" field.


If you require any further assistance, feel free to contact us.

Best Regards,

Miles
Customer Support
Plus500.com


- Hide quoted text -
On Fri, Mar 18, 2011 at 5:17 PM, Yazid wrote:

Hi,

But i don't even know who's email is jas.james@live.com. Do note that my address is at 770, #03-154, Woodlands Drive 60 as registered in the account and this is my first time foraying into forex.

Please assist. Do revert back to me if you need any details.

Thank You
Yazid



On Fri, Mar 18, 2011 at 6:08 PM, Customer Support wrote:

Hello,

Thank you for contacting us.

Please note that if you have successfully verified your phone number, but have not received the bonus to your account, then surely it has been obtained previously in other household expense.

The welcoming bonus is limited to only one account per household (one account or one household will be determined on the basis of one, all, or any combination of the following: name, phone number, mailing address, e-mail address, IP address, name on credit/charge card, credit/charge card number, and any other form of identification which may be required).

A bonus was already received to account jas.james@live.com, therefore you will not be able to receive it more then once.

If you require any further assistance, feel free to contact us.

Best Regards,

Miles
Customer Support
Plus500.com





On Fri, Mar 18, 2011 at 2:14 AM, Yazid wrote:

Hi,

Ihave validate my account and phone number but have yet to receive the bonus money. Please advised.

Thank You
Yazid

How can you trust a company that cannot differentiate 2 different persons and accounts? You might end up with someone else withdrawing from your account. And the weirdest thing is, there are only 2 person in my household, me and my wife. Possible scam in progress here.
 
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.
 
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

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).