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

Australia,
Nov 24, 2017,
Registered user

Total Scam

My wife registered with this company. Made and lost some money on Crypto currency. Wanted to take her money out and suddenly they are making every excuse for not giving her money back. This company is a total scam and the government should shut these fraudsters down. Don't sign up whatever you do.
 
Reply by Plus500 submitted Dec 6, 2017:
Hello there.

Our costumers are more then welcome to request a withdrawal of their available funds, at any point, as long as their account is fully verified.

We are obligated to verify authenticity of your identity and other relevant details (such as, but not limited to, registered postal address, payment means ownership) against the requested documents.

This is part of our standard due diligence process and is designed for the protection of your privacy and to prevent fraud.

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.

For any further clarifications as for your wife's trading account situation please ask her to contact us anytime - http://www.plus500.com/Help/ContactUs.aspx

Regards,
Plus500
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
 
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
Santiago, Chile,
Nov 7, 2017,
Registered user

plus500 is a great option if you know what you are doing

plus500 is excelent all the way. The real problem with many of negative votes is the amazing miss understand of what you trade.
I use plus500 without problems for years there are some goods and some bads.
the goods: fully regulated, great chat and mail support, fast id document processing for accounts

The order in kaos: as i can see "very much order" internally they are very structurated. I know that because my DNI ID is about to expire soon and they send mails and alerts in the platform to re-validate my ID with my new documents.
I abuse about that and don't send the information to see what happend, and they "suspend my account and put a message". Exactly what i was expected about a fully regulated broker. so i send my new ID and in less than an hour the platform go live again.
In the other hands my other brokers "never realize" about my DNI expiracy so based on that information plus500 have a great internal order and structure that send me peace of mind! They are relly aware about the information process.

The platform: Is not the best, that for sure! on "graphics" i preffer metatrader or tradingview to read the charts BUT! WHAT A MINUTE! the platform is in local currency in my case Chilean pesos or the currency your country you are so that is an AMAZING PLUS! for the platform, another plus for that is the platform is cristal clear and Easy of use.
Every option, every button have a question mark with help and documentation about averything. All the CFD have plenty of information about expiracy time (CFD like bitcoins, crude, etc have expiracy date you need to know) but all the information about overnight cost, spread, leverage, etc is there in your face metatrader don't have that much options. So in my experience i read the charts in tradingview and make the trade in plus500 using the easy platform they have.

The assets: they have MANY! how many? TOO MANY!
Crude oil, CFD actions like, facebook, apple, etc, indexes of almost every country including spain and some spain cfd, forex pairs from basics eur/usd to usd/zar

as i can remember plus500 was the "first" broker out there that put bitcoins in the platform to trade and that is a HUGE BUSINESS VISION! from the plus500 Team. Now other brokers like XM.COM try to sell you the idea that now they have bitcoins and is a news for them but they don't know you can trade bitcoins in plus500 2 years before.

The prices: Plus500 have great forex spreads BUT are "expensive" based on the overnight costs and some of the CFD are very expensive costs to buy but well you can trade it if you like it.

The infamous problem with platform buttons blocked just when you need to close your position.
I see many times this gray buttons. The short answer is "LIQUIDITY IN THE MARKET"

the problem with people crying everywhere is they don't really know what kind of business they trade they are using CFD and some times when some big news come up the platform just don't let buy or sell that pair of forex for example. and of course if you are in the trade you can not close your position until the market stop and appears some liquidity so the problem as i can see is a liquidity problem in the market in general.
But this problem just affect plus500? NO IF NOT! is everywhere the difference between plus500 and xm.com for example is when you use metatrader if you close the position and you don't have liquidity the position never close or close in the next liquidity price WELL BELOW you actualy want.

So based on that i prefer plus500 that show me the thruth about liquidity than a metatrader that close my position blindly in the price they want. You can add to this equation that plus500 have an option that other brokers don't have is a warranted stop loss THAT PREVENT ALL THE PAIN IF YOU USE IT!

Sooo if you see news coming and you want to trade USE WARRANTED STOP LOSS and stop crying. try that in your broker... guess what they don't have that options they will kill your account 200 pips below you wanted price.

 
Reply by Plus500 submitted Nov 9, 2017:
Hello There!
Thank you very much for your comment and rating.

We enjoyed your detailed description about your experience with Plus500, and are very happy to read that you are satisfied with the services we offer.

We will do our best to keep up the good work.

Kind Regards,
Plus500
Staffordshire, United Kingdom,
Oct 28, 2017,
Registered user

Quick to close a position with insufficient warning.

I am relatively new to trading so I can not claim I know much of the subject. I decided to use plus 500 despite having read the negative reviews that shine a bad light on the company. I assumed that these people were maybe just upset with their loss.

I had a position open yesterday and unexpectedly closed due to margin call. It was unexpected because the notification saying it was closed came at the same time as the warning notification. I had no warning whatsoever. Keeping in mind I had been checking the app every 10 minutes, and would have been able to add funds if I was given sufficient warning. There was plenty enough equity to cover the loss. Just because my equity had fell -£10 below the required margin, I had lost half of my money.

I spoke to somebody on live chat called Georgi (because they don’t have a number to call on, surprisingly). I had told her I was extremely annoyed that I didn’t receive any warning prior to my account being closed. She argued that there was warning and the reason both of these notifications were received at the same time was due to connectivity issues. I then asked her to tell me what time the warning notification was sent. The notification was sent at 2:27. My position was closed at 2:30. My account was closed because my equity fell roughly £10 below the required margin for 3 POXY MINUTES.

So I argued with the woman and told her it was unacceptable and that I wanted a refund for the closed position. She kept going over the same points, that “plus 500 have the right to close any position which has fallen below required margin”, and “as a trader it is my responsibility to ensure there is enough equity”. As I had stated there was enough equity, just £10 off from the required margin., my position would then have recovered and made profit had it been kept open.

I told her I would have been able to add funds. I asked her if she thought a 3 minute warning would be an appropriate amount of time for me to add funds prior to closing my account, she had no comment. I told her exactly how I saw it, that they were quick to close my position because it was due to recover. She told me she would sent my complaint to a higher department. I still haven’t heard back. It looks really bad for the company with the amount of reviews claiming that it is a scam. Now I have realised I should have listened to these warnings and looked for a different broker.
 
Reply by Plus500 submitted Oct 30, 2017:
Hello,

We are aware that there are some negative reviews however, please consider that such reviews reflect a small percentage of customers and there are also positive comments from satisfied Plus500 customers.

Please also bear in mind that in many cases, where a user posts a negative review, we will attempt to rectify or clarify the situation. However, in accordance with our privacy policy and local privacy regulations, we are unable to make further public correspondence with the client. As such, even where the user’s complaint is settled, we are unable to confirm the outcome in a public reply. Furthermore, unfortunately in many cases, where the issue is resolved, users do not post a follow up review to confirm this.

As for the margin call that took place in your account - As was explained to you, 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 all open positions) to bring the account equity above the total maintenance margin required for the open positions.

As far as we are informed, your matter was already forwarded for examination to our Senior Staff. Should you have any further question, you are welcome to place those within the relevant correspondence.

Thank you for your cooperation.
Regards,
Plus500
Emma
Social Media Team
Kisulya,
Bahrain,
Oct 27, 2017,
Guest

They don’t reply to you clearly what is your limit for withdrawal. I would never ever put a big amount of money on their account without knowing exactly how much I can maximum withdraw.
They replied by email saying that they cannot provide with such information
 
Reply by Plus500 submitted Oct 30, 2017:
Hi there.
You should be able to request a withdrawal of your available funds at anytime in your trading account. The maximum/minimum sum for a withdrawal does depend on the payment method of your choice.
Since we are unable to track your account based on the information provided here, you are welcome to contact our Support Staff and ask them to specify.
In addition, you are welcome to check on the information we do provide in the platform (once you do open an account) as for each withdrawal request/ payment method.
Thank you for your cooperation.
Regards,
Emma
Plus500
Social Media Team
Dortmund, Germany,
Oct 19, 2017,
Registered user

Never open an account there

This is the worst broker, i have ever used. After first time i had a payout, because of a nice win in oil - there was nothing wrong with it. But than they changed somethig in my account.

The payout was no problem - and fast. But than plus500 increased the minimum position size for all instruments. And much more than x 10. The minimum for EUR/USD fpe examle was than 50000 Euro-
 
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
israel, Israel,
Sep 7, 2017,
Registered user

alright people u really need to cool down and read carefully ,,
as a broker what i see this company as the worst company that brovide a really stupid platform for people to trade
what people should not just because they see this company should trade i already tried to many companies all of them are scammers

for plus 500 they always frooze my winnigs and my closed position until i got 0 in the account althoug i am from israel and the company located here but still stupid as s*** company they have also low leverage they say we give bonus and no bonus givin ... the chat agents are so stupid u want to smack the s*** out of them althoug i lost 300$ but i tried the best company and regulated company out there and still no no for plus500 people go waste your money on something eles all the companies are scammers and i alreaady put review in israel department and also in fca thank u have a good day dont trade in plus500 and in any forex company
 
Reply by Plus500 submitted Sep 11, 2017:
Hi Rawi,

Thank you for your comment.

1. Please consider that we are prevented in from granting bonuses to some of our costumers for activities on our trading platform, according to the local regulation.
2. Our costumers are welcome to operate their trading accounts, as long as the verification process is completed.
We are certain you could have closed your open positions at any time, as well as request a withdrawal or fund your account.
In case you wish for us to review your case/account, please provide us with your account details and we will gladly look into it.
4. As Plus500 is a fully regulated worldwide company with a great reputation, we would never engage in any questionable activity, as implied.
5. We are sure that the Support received by our most dedicated team was in line with our strict guidelines for a highly costumer oriented service level.

Regards,
Plus500



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

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).