Plus500 Review

1.564 · 165 REVIEWS
Updated: Sep 14, 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
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

Live discussion

Join live discussion of Plus500.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

1.564 · 165 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

dheenadhayalan,
india,
Jun 20, 2009,
Guest

i am using their demo account.it is one of the best platform.all in one platform(forex.cfd,oil,gole,etc.,).that's really nice.

But before opening a live account, please anyone who is in live with them,rate it. It will be really useful like me.


demo account:

pros:

1.user friendly platform

2.all in one (forex,cfd,gold,oil,etc)platform

cons:

1.no contact information (only fax no available)

2.poor support(email contact taking a long time)

3.ther is no information regarding registration

4.no live support

regards,
Dheenadhayalan


 
Paul,
Singapore,
Sep 12, 2009,
Guest

Very strange bahaviour on this platform took US $1100 from me. Stops taken out on demo orders on two different MT4 platforms on two different servers in two different countries affect live orders on Plus500; Plus500 software appears to be written to focus on margin level and to attack the account until a margin call occurs; there appears to be nothing you can do no matter how you protect your trades -- every trade is attacked and regardless of the orders you place, your account is liquidated. I lasted three months, which to me is impressive. The main complaint I have against Plus500 is that, like FXCM, no matter what trade you take the 'market' goes against you and your trade is liquidated. Their platform is very easy to use (web-based) but its data feed is the same as any MT4 platform and subject to the same electronic (read 'fake') order manipulation that you find on any MT4 platform. Plus500 is very proud of the fact that it is based in the UK (or in the case of my live provider, Cyprus) but in fact if you do a bit of research you find that the actual developer of the Plus500 platform is Israeli and live orders are all routed through the main Israeli server via bezeqint the local Israeli service provider (though you will also see connections to your local service provider for the demo and live account but that connection is not the onecontrolling the orders). After a five year hiatus from live trading and extensive research into how forex works, I returned and this is what happened; my advice to you is to stay far, far away from Plus500 wherever they operate. I am currently filing a complaint against them in Singapore, where MT4 is banned, as Plus500 operates a 'ghost' MT4 service and their platform is just a very slick frontend for what amounts to an MT4 platform. You have been warned! You will lose every cent you put into this company, as they de facto run their platform to trade out small accounts as efficiently and quickly as possible. I lasted three months because I fought back aggressively but I suspect most traders will be liquidated within a few weeks.
 
bilal,
calgary, AB ,
Oct 16, 2009,
Guest

its pretty interesting to see that the maker is isreali( paul).
anyway i have been using them for couple of months, i like there platform, i was really suspecious about the fact they dont have live or phone support. but they usually get back to my email question within one day. there service is meant to be used daily. margin interest will kill ur account if u keep it for more than one day. there website states that you will get charged premium if you open an order before 7 am EST TIME, and keep it through out the day. or open an order before 5 PM EST TIMe and keep it through night. but for some reason i always open order after 7 am but always at 12 noon they charge me interest.

they never go against you. you can compare it with other brokers. i dunno what paul is talking about. there withdrawal is pretty good. i am really happy with there service i deposited 1000$ after 3 weeks i made 2300$ i withrew my 1000$ to my visa. even tho they dont have that option, i selected wire transfer yet they refunded my visa. and weeks ago i withdrew another 1500$ profit, yesterday it showed on my visa. and now i am working with 1600$ thats profit. its been really profitable for me. i like there service. i hope they stay like that, i am hoping i can keep making money without having to deposit any money, since i am dealing with pure profit at the moment.
 
Bob,
Netherlands,
Nov 13, 2009,
Guest

@ Paul: Web-based, MT4, based in the UK?

First of all +500 doesnt have a web based platform, secondly they are not a MT4 clone, but just a stand alone and third: They were based in Cyprus and now they are based in Belize. Are you sure you checked +500 and not some other?
 
naji,
cyprus,
Dec 6, 2009,
Guest

Cysec (Cyprus Securities and exchange commission) has issued a warning agianst this company.
This is the link:
http://www.cysec.gov.cy/warnings_en.aspx

 
Appleby,
Ontario Canada,
Dec 23, 2009,
Guest

Plus500 is a SCAMMER. I lost money coz I didn't get a fair deal. Stay away from this scammer. Don't be fooled by their pretension. Later you'll find out that they are stealing your money .We started with a small amount which was fine and everything went on smoothly,until we made a big deal that's where they started attacking our funds and no matter how effective our strategy was to protect our investment, you gonna lose it to them up to the last penny.One way was in their demo platform, the USA/CAD pair we opened a sell was registering profits. But in our live account in the same currency,that we opened a sell at the same time was going the opposite direction so losses registered instead.And many of these cheating things. And remember the warnings of Cyprus Security and Exchange Commission,Slovene Securities Market, Capital Market Commission of Hellenic Republic of Greece that they are not licenced to operate as forex broker , the same constitutes a criminal offence. Because they are not licenced and not a member of any regulatory bodies, they can cheat investors without protection. I warn you people stay away from these THIEVES. I firmly believe we should tell the whole world so no one will be their next victim. If you see a good rating for them, they are their own group and their own bloggers.
 
giobac,
France,
Jan 5, 2010,
Guest

Plus500 is SCAMER. Today, I was victim of Plus500. I regret not reading your warning before.
For just some seconds, Plus500 was blowing all my account. I had shorted sugar at price of 27.8. I was stopped out at 9:50 of January 5, 2009, at the price of 29 dollards offered by Plus500 while the price of sugar offered by other broker AVAFX was 28. A big difference of one dollar between the two brokers appeared for just some seconds. Plus500 has manipulated the price to hunt stops. What a dirty scam.
I have captured the screens but I don’t know how to upload on revew.
 
Ilias,
Greece,
Jan 15, 2010,
Guest

An excellent platform and program to spend your free time only for recreation purposes.

DO NOT DEPOSIT REAL MONEY

While you lose your hard earned money everything is ok, up until you make any profit or decide to withdraw your earnings.

They lock your account with the excuse that you have violated the user agreement.

KEEP AWAY FROM plus500 at all cost.
 
naji,
cyprus,
Mar 19, 2010,
Guest

After the warning against Plus500 by Cysec. They blocked access to their website from Cyprus and launched a news one under the name 10pips. Check the user agreement paragraph 25.26 (http://www.10pips.com/user-agreement.php), which states clearly that 10 pips site is actually owned by Plus500.
 
M.B. Morley,
France,
Apr 21, 2010,
Guest

The Plus500 platform is extremely accessible, very simple to use and very basic in it's functionality. They offer a reasonable range of CFDs on forex, commodities, ETF, Indices and a few major companies (UK, EU and US) which allows you to vary your strategy within a limited, but uncomplicated framework.Their leverage is good, making this a seemingly cheap and attractive option for playing the markets.

Stops, Closes, Trailing Stops and Orders all function well, and the actioning of orders is satisfyingly rapid, but I remain somewhat suspicious of the total accuracy of their realtime information (i.e. compared to another platform I have been running). My personal experience of contact with their support staff has been almost entirely positive, including the refund of a significant loss incurred when one stock was temporarily untradeable, leaving me unable to protect my position. I have yet to attempt drawing down a profit.

I am aware of the structure of the business, and the various warnings issued regarding their legitimacy in certain countries, but I am satisfied that enough information exists to enable tracing and prosecution if they do in fact behave fraudulently.

HOWEVER...for those of you who are tempted into downloading and using their platform, be aware that many of their spreads on Buy and Sell quotes are very high when compared to other, equally easily available trading platforms (eg. Apple @ 0.30, Google @ 0.65, Wheat contracts @ 1.25!).

Some are about equal (eg. Gold @ 0.65, Oil futures @ 0.05), and there are some cheaper spreads (Silver @ 0.45, Cotton contracts @ 0.19), BUT their premiums on both Buy and Sell are also very high by comparison, notably charging you a premium on Sell positions rather than paying interest in almost every case.

My guess is that they are either working with a brokerage which charges very high commissions (perhaps in direct partnership), or they are adding their own premium on top. Either way, the Plus500 platform is not the cheapest way to access the markets.

Finally, whether by deliberate design or negligence, the only window which cannot be maximized is your deposit summary. This window is also the only one which doesn't show a running total, making it difficult to easily calculate how much you have committed to your account (and therefore how much you may have lost!). Charting tools are also minimal and there are almost no outside links or additional information available directly through the platform.

For alternative platforms, equally accessible, cheaper and much more comprehensive, try AvaFX or IGMarkets. Be prepared for a much steeper learning curve however, the main attraction of Plus500 is it's relative simplicity!

M.M.
France
 

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).