Plus500 Review

1.584 · 169 REVIEWS
Updated: Jan 21, 2021 · Plus500.com  · Is this your company?

Plus500 is a forex broker based in Israel, but holds licenses from multiple regulators, including the Seychelles FSA, ASIC, CySEC, and the FCA. Clients need to be aware of which regulator they will be under before opening an account with Plus500, since the protections of only 1 regulator will apply to most accounts. Plus500 offers leveral of up to 30:1.

Plus500 offers its own proprietary trading platforms for Windows 10, Android, via a web browser. This platform does not appear to be compatible with EAs.

Support from Plus500 comes through an FAQ and an email contact form.

Plus500 has been offering forex trading since 2008. It has forex, some CFDs, and a few cryptocurrencies available for trading.

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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1.584 · 169 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Steve,
United Kingdom,
Feb 22, 2018,
Guest

Do not use this company it’s a scam with a massive advertising and affiliate program to make it look legit !!!

Dec 30, 2017 - 1 Star I like many others have been ripped off by this company , at first with the bonus and a couple of hundred pound deposit , I made over £1000 in 3 days , amazing I'll add more I thought ,so put in another £1000 , then came the manipulation , spikes to set losses not seen by any other market , margin calls due to rates on my instruments not seen on other markets , being logged out for over half a day when in profit , greyed out buttons when in profit or trying to buy or sell , spreads changing constantly in there favour , I've taken photos of this and passed on to relevant departments , after being forced to add more and more funds ,due to margin calls to cover my positions , and me sending several emails after live chat was removed suddenly , and getting generic responses which is all I'm still getting ,instruments suddenly started getting closed , one at a loss of £3.50

Reply by Plus500 submitted Jan 11, 2018 Hello,



Thank you for your comment.



Plus500 is a fully regulated worldwide trading company.

As such, we will never be engaged in this type of questionable activity.

You are welcome read more about the regulating bodies we are bound to on our website:

https://www.plus500.com/FAQ/Regulators



Plus500 quotes prices with reference to the price of the relevant underlying financial instrument and its spread.



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.

We represent the market as it is.



Since we are unable to locate your trading account based on the information provided here, please contact our support team for any assistance needed.



Regards,

Plus500
 
Belgium,
Feb 8, 2018,
Registered user

What a disappointment. They closed my account on the basis of Clause 22.7 of the User Agreement.

If you look Clause 22.7 of the User Agreement of Plus500 up, it doesn't really mention much of a reason.

I asked them if they could explain and give me a reason. They did not and closed the chat.

Cheers guys, making a bad name for yourself. It kinda seems like they already have though.
 
Reply by Plus500 submitted Feb 14, 2018:
Hello Jellis,

Thank you for your comment.

We would like to inform you that we have asked our Support team to contact you
via email.

Please check your email inbox.

Thank you for your cooperation.

Regards,
Plus500
Spain,
Jan 26, 2018,
Registered user

Not recomended broker

A broker, created to take your money. Margin call at 50 % , the increase the minimum lots to make you invest with high volume. Only custormer service by mail. There are hundred of brokers better than this to trade.
 
Reply by Plus500 submitted Jan 30, 2018:
Hello,
Thank you for your feedback.

Trading terms under which each instrument is offered may change from time to time - you can see the leverage, atomic amounts and margin requirements for each instrument by selecting the instrument and clicking on “details” on the far right hand side of the platform’s main screen.
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.

As for the Margin Call - Note that in the event your Equity falls below the total maintenance margin requirement for all open positions, it means that you do not have enough funds to maintain some or all of your positions and therefore some or all of your positions will be closed by "Margin Call".

This means that the trading platform may close out some positions (not necessarily all open positions) to bring the account equity above the total maintenance margin required for the open positions.

Please note that any closed positions cannot be reopened under any circumstances and you should bear in mind that it is the traders’ sole responsibility to monitor their balance and equity at all times and make sure that they have sufficient funds in their trading account to maintain their positions open.


You're welcome to read more regarding margins on our FAQ page -
www.plus500.com/FAQ/Trading/WhatIsMarginCall
https://www.plus500.com/FAQ/Trading/HowCanIAvoidMarginCall

If you require any further assistance, feel free to contact our Support anytime.

Regards,
Plus500


napoli, Italy,
Jan 19, 2018,
Registered user

Terrible, extremely bad performance. Possible unethical behavior. attenzione pericoloso
 
Reply by Plus500 submitted Jan 23, 2018:
Hello,
Thank you for your comment.

The App requires a strong an stable connection - make sure you have a such- and close all other in the background running Apps.

For technical assistance always refer to our Support using this link:
http://www.plus500.com/Help/ContactUs.aspx
We are certain our Team will gladly assist.

Regards,
Plus500
Pretoria, South Africa,
Jan 17, 2018,
Registered user

My Account Blocked without knowing the cause

Plus500 blocked my account and they did not tell me why, they just do as they like treating us old cars, this is what they told after i asked them why im blocked....
" Hello Lutendo,

This was a business decision and we will not be able to provide you with any additional information on any internal reasons. In accordance with section 22.7 of the User Agreement, we are entitled to terminate the User Agreement immediately by providing you written notice, with or without cause, in our sole and absolute discretion.

Accordingly, at this stage we will not be able to continue our business relationship with you.

Your funds will be sent back to the source of deposit.

We appreciate your cooperation and understanding. "
 
Reply by Plus500 submitted Jan 22, 2018:
Hello Lutendo,
Thank you for your comment.

Since you have been corresponding with our team and received a detailed explanation, ticket #3307779, you are most welcome to place your open question regarding your account situation within this correspondence.

We thank you for your cooperation.

Regards,
Plus500
Johannesburg , South Africa,
Jan 1, 2018,
Registered user

They now won't respond to my emails

I've been with plus500 for over 6 months now. Sometimes they just start suspicious activities such as changing settings(recently removed chat so we can't reach them easily) and leverages of certain instruments without letting us know. Sometimes they close positions for you and sometimes they cancel your withdrawals. On top of trying to understand those problems they recently blocked my withdrawals, my account is fully verified and they confirmed that too, I can deposit just find but when I'm trying to withdraw it shows blank. I then emailed them since their chat doesn't work no more. They told me my documents aren't verified and they cancelled my address verification. Again I fetch the document from the back and re uploaded, my account was fully verified again and then again when I tried to withdraw my withdrawals were blocked. I emailed them again and they did exactly the same thing rejecting one of my documents. I ended up telling them I'm gonna file a court case against them. That's when they promised to check it. I gave them a week to check and the response was that my account is okay I can continue with normal trading activities. When I tried to withdraw it still blank and they claimed to have fixed it. I emailed them again and explained that the problem is still there, they started saying strange things that my documents are wrong and need to email them new ones and something about my tax number being wrong. I immediately email them all the documents and got no response ever since. I'm suggesting people should stay away from plus500 until they resolve their issues and bring back liveChat.


Dec 22, 2017 - 1 Star Plus500 was a good broker, I been using it for over 2 years now. But recently they removed the chat, changed the graphs and tools. I closed my account with them In October and now I went back and open another one. They allowed me to deposit but won't allow me to withdraw. When I'm trying to withdraw it shows blank and my account was fully verified. After leaving the a query they cancelled my documents and said my account isn't verified. I re uploaded my documents now hoping for the best. I think people should be careful dealing with plus500 now because I think the company is loosing too much so they trying to re strategize. Remember they only win if majority loses and lose if majority wins.

Reply by Plus500 submitted Dec 28, 2017 Hello!

Thank you for your comment and rating.

As we attach great importance to costumers feedback and satisfaction level, we would like to explain the following

Costumer are most welcome to request a withdrawal of their available funds at any time which will be processed with 1-3 business days, as long as the account is fully verified.

As for tradings conditions, please note that those may change from time to time and it is your responsibility to make sure you are aware of the conditions offered as stated.

As for other changes in the platform, be assured that those are implemented to simplify the usage and make your trading experience more enjoyable.

In case you require any further assistance, feel free to contact our Support at any time - http://www.plus500.com/Help/ContactUs.aspx

Regards,

Plus500

 
Reply by Plus500 submitted Jan 11, 2018:
Hello,

Thank you for your comment.

Due to a higher amount of customer's queries than usual, it may take us longer and up to few hours to reply. Also, due to this reason, unfortunately the chat isn't always available.

However, we can see that you mentioned this matter is already under review by our Support team.
We can assure you that they we do their best to provide you with a detailed reply regarding any query you may have and put their best efforts to solve this matter to your satisfaction.

You are more then welcome to place any open question you may still have within the correspondence with our Support.

We appreciate your understanding.

Regards,
Plus500
Rodrigo,
Hampshire, United Kingdom,
Dec 23, 2017,
Guest

Plus500 is not putting your money in the real market but their own simulation of the market, so they manipulate prices to rob you!

Rip off company beware!! The prices shown on plus500 are not the actual market prices, check for yourself look at the prices of bitcoin for example on plus500 then check on google or coinbase its hundreds sometimes thousands different! You are not putting your money in the real market but in a simulation created to rip you off!!
Here is how i lost £120 after creating my account yesterday. Bitcoin prices were going up so i bought nearly £200 worth, all of the sudden prices started dropping so i checked coinbase and prices were going up nearly £800 higher than plus500, then i checked google and other sites the price was going up by nearly 7% on the same time the prices were dropping by nearly 10% on plus500, so they canceled my position automatically making me £120 loss, and prices went up again. The plataform is a rip off simulation environment go and check for yourself before getting robbed!
 
Reply by Plus500 submitted Dec 28, 2017:
Hello Rodrigo,
Thank you for your comment.
It is important to explain 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.

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.

Please also note that 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 involved in any questionable activity nor do we manipulate nor influence the rates reflected.

In case you require any further information, or are in need of assistance, feel free to contact our Support at any time.
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

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
Dave,
Perth, Australia,
Dec 12, 2017,
Guest

Plus 500

Plus 500 doesn't let me withdraw money. Been trying the last few weeks have everything verified bank account and card. Latest is I need a letter from my bank to show my card is linked to my account. Have rang the bank and you can't event get a letter that shows this. Wouldn't recommend plus 500 to anyone at the minute anyway avoid at all costs.
 
Reply by Plus500 submitted Dec 24, 2017:
Hello Dave,
Thank you for your comment.

Please be informed that as per our legal and regulatory obligations, Plus500 is required to verify your identity and residential address, for which a photo ID and residence information and/or documentation may be required.
When you open an account with Plus500, you agree to comply with all applicable laws and regulations against money laundering and terrorism financing, including, but not limited to, the requirement to provide satisfactory evidence of your identity, residential address, source of funds, etc. Plus500 will not establish a business relationship with an individual unless and until the client’s identity and residential address have been successfully verified and/or all necessary documents have been received and verified.
This is to protect both you and us from fraud as well as guard your privacy, and is therefore part of our standard due diligence process. Plus500 reserves its right to impose additional due diligence requirements where necessary.

Should you require any further assistance with a transaction or your account, please feel free to let us know alongside with providing your account email address.

Happy Holidays,
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).