Plus500 Review

1.584 · 169 REVIEWS
Updated: Jan 21, 2021 ·  · 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.

2017-04-19: The Belgian FSMA ordered the shutdown of 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

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:, +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
Forex Peace Army

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Traders Reviews

Oct 20, 2016,
Registered user

About this company were about a couple of years earlier, not witdrwals money for all clients and cleaning information from Google and now the company is good...
Reply by Plus500 submitted Nov 16, 2016:
Dear Mitiwala,

Thank you for your comment, we are glad to see that you are satisfied with the platform and service that we offer.

We will do our best keep offering the best possible service.

Should you require any assistance from our support team, feel free to contact us at any time via
our Contact Us page (

Singapore, Singapore,
Sep 26, 2016,
Registered user

Plus500 Scam Strategy Unveiled

Plus500 is a scam or may be characterised as such, depending upon your perspective. I have been researching on their model and here are three (3) ways they rip you off from your money and make profits.

1. They deceit you in believing that they are a UK listed company regulated by UK regulator (FSA). However, this is blatantly untrue, the UK listed company Plus500 has nothing to do with their CFD business platform which is operated from Cyprus, Israel and elsewhere and effectively FSA has no jurisdiction and control.

2. The prices on the platform are not "true market" prices but provided by third parties and heavily amended by Plus500 at its will. From observing actual market and Plus500 rates for weeks, I have concluded that there is an algorithm that takes into account active "Long" and "Short" trades value, and changes prices in a way that would bust a large number of traders through "margin calls". These changes are so subtle and momentary that long-term traders would not feel them but day traders would be burned (remember some traders would still make money at that one particular trade, but the same trader may lose in other trade).

3. Finally, if you manage to make some money at all and would like to withdraw, Plus500 would do everything possible to stop you from withdrawing, they want you to keep playing till you lose.

It is the second (2) point that makes them profitable and in my opinion a scam because there is no possible way of verifying those prices changes, they clearly tell you that you can't verify these prices changes through third party but only on Plus500.

Reply by Plus500 submitted Nov 16, 2016:
Hello BJ.

May we correct your assumption and refer you to our website (, in which you may inform yourself regarding the subsidiaries Plus500 operated through, for example:

Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909).

Also, note that Plus500's quotes prices with reference to the price of the relevant underlying financial instrument and its spread.
This price is obtained from a range of third party reference sources, various nominated independent financial market data providers, who, in turn source their price feeds from relevant exchanges.
Consider 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 future contract in the link offered in the instruments' Details on the far right hand side of the screen.

In addition, consider that you may request a withdrawal of your available funds in your account at any time. The request will be processed within 3-7 business days. Should you have any open questions regarding this matter, please reach out to our support team and they will gladly assist.


Eindhoven, Netherlands,
Sep 15, 2016,
Registered user

+500 makes up rates taking your money

Some serious shady business going on at plus500.

Peter Schouten, Sep 8, 14:30 IDT:
LiveChat conversation transcript:
source: WebTrader2
lang: en
page: Menu
real: true

Chavdar (Thu, 9/8/2016, 01:45:24 pm Europe/Helsinki)
Hello. How may I help you?

peter jeroen schouten (Thu, 9/8/2016, 01:45:24 pm)
Hello, i want to ask you about a closed position this morning

peter jeroen schouten (Thu, 9/8/2016, 01:45:48 pm)
it is position 1030289605

peter jeroen schouten (Thu, 9/8/2016, 01:46:09 pm)
it was closed for margin call at close rate 2424, but it has never reached 2424

Chavdar (Thu, 9/8/2016, 01:46:31 pm)
I will need a few moments to verify this matter.

peter jeroen schouten (Thu, 9/8/2016, 01:46:36 pm)
In fact, it still isnt at 2424

Chavdar (Thu, 9/8/2016, 01:47:41 pm)
Unfortunately, your position #1030289605# was closed due to a margin call.

peter jeroen schouten (Thu, 9/8/2016, 01:48:27 pm)
yes i see that. But it closed at a rate it hasn't reached. Clsoing rate was 2424, but is has not been above 2396

peter jeroen schouten (Thu, 9/8/2016, 01:50:01 pm)

Chavdar (Thu, 9/8/2016, 01:50:36 pm)
Just a second, please

Chavdar (Thu, 9/8/2016, 01:52:12 pm)
Please note that in the event that your Equity falls below the maintenance margin requirement for all open positions, it means that you do not have enough funds to maintain your position and therefore the position will be closed by "Margin Call".

peter jeroen schouten (Thu, 9/8/2016, 01:52:48 pm)
I understand sir, but it has not been that high, so i do not understand the margin call. It has not been at 2424

peter jeroen schouten (Thu, 9/8/2016, 01:53:22 pm)
You closed it 09:01 and it was 2356 then

Chavdar (Thu, 9/8/2016, 01:53:59 pm)
Yes, I understand. But please note that we reflect the market as it is, and in some cases the fluctuations of the market are very high.

Chavdar (Thu, 9/8/2016, 01:54:13 pm)
bear in mind that maintaining a sufficient equity at any given time, is under the responsibly of the trader.

peter jeroen schouten (Thu, 9/8/2016, 01:54:45 pm)
But why is it not visible in ANY program? The market has not been that high

peter jeroen schouten (Thu, 9/8/2016, 01:55:05 pm)
It has not been above 2396

Chavdar (Thu, 9/8/2016, 01:55:57 pm)
Bear in mind that your position is a sell position

Chavdar (Thu, 9/8/2016, 01:56:10 pm)
So you have to look the buy rate.

Chavdar (Thu, 9/8/2016, 01:56:44 pm)
In the graphics are shown the sell rates.

peter jeroen schouten (Thu, 9/8/2016, 01:56:52 pm)
I understand sir. I opened it at 2374 and at the moment of closing: 09:01 it was 2356

peter jeroen schouten (Thu, 9/8/2016, 01:57:09 pm)
So it went short as i predicted

peter jeroen schouten (Thu, 9/8/2016, 01:57:36 pm)
I even had the take profit installed. I understand slippage, but it has not been at 2424 at all

Chavdar (Thu, 9/8/2016, 01:58:35 pm)
Yes, I understand. Please note that the market is highly volatile and an investment in CFDs carries a high degree of risk to the investor

peter jeroen schouten (Thu, 9/8/2016, 01:58:56 pm)
I do understand sir

peter jeroen schouten (Thu, 9/8/2016, 01:59:02 pm)
but the rate has not been at 2424

peter jeroen schouten (Thu, 9/8/2016, 01:59:39 pm)
it has not been above 2396 and at the moment of closing it was 2356

Chavdar (Thu, 9/8/2016, 02:00:27 pm)
Please note that the graphics represents the sell rate.

peter jeroen schouten (Thu, 9/8/2016, 02:00:46 pm)
It isn't showing on any graph

Chavdar (Thu, 9/8/2016, 02:01:21 pm)
Where did you see the rates?

peter jeroen schouten (Thu, 9/8/2016, 02:01:34 pm)

Chavdar (Thu, 9/8/2016, 02:03:19 pm)
Please note that this instrument is a future contract for December.

Chavdar (Thu, 9/8/2016, 02:03:38 pm)
In any case you should check the rates on our Platform.

peter jeroen schouten (Thu, 9/8/2016, 02:03:57 pm)
On your platform it hasn't reached 2424 either

Chavdar (Thu, 9/8/2016, 02:04:06 pm)
Please note that Plus500's quotes prices with reference to the price of the relevant underlying financial instrument and its spread. This price is obtained from a range of third party reference sources, various nominated independent financial market data providers, who, in turn source their price feeds from relevant exchanges.

peter jeroen schouten (Thu, 9/8/2016, 02:04:56 pm)
i understand sir but again, it has not been at 2424

Chavdar (Thu, 9/8/2016, 02:05:20 pm)
Yes I understand.

Chavdar (Thu, 9/8/2016, 02:05:28 pm)
Please note that in the event that your Equity falls below the maintenance margin requirement for all open positions, it means that you do not have enough funds to maintain your position and therefore the position will be closed by "Margin Call".

Chavdar (Thu, 9/8/2016, 02:05:53 pm)
Please read the info here:

peter jeroen schouten (Thu, 9/8/2016, 02:05:54 pm)
Come on... I understand but you mention a rate it has not reached

peter jeroen schouten (Thu, 9/8/2016, 02:06:04 pm)
i understand what a margin call is

peter jeroen schouten (Thu, 9/8/2016, 02:06:47 pm)
You closed my position at a rate it has not reached and now you try to claim margin call, what is going on?

Chavdar (Thu, 9/8/2016, 02:07:24 pm)
Your position was closed because of the the Margin Call.

peter jeroen schouten (Thu, 9/8/2016, 02:07:30 pm)

peter jeroen schouten (Thu, 9/8/2016, 02:07:39 pm)
a mistake has been made here

Chavdar (Thu, 9/8/2016, 02:07:58 pm)
Because you did not have enough funds to maintain your position

Chavdar (Thu, 9/8/2016, 02:08:20 pm)
Your equity was -503.09

peter jeroen schouten (Thu, 9/8/2016, 02:08:43 pm)
that is not true, because i opened the position at 2374 and at the moment of closing it was 2356. It has not been above 2374 before the moment of closing

Chavdar (Thu, 9/8/2016, 02:09:25 pm)
One moment,

Chavdar (Thu, 9/8/2016, 02:17:26 pm)
Please note that our rate at the moment were as following 08/09/2016 09:01: the sell rate was 2342 and the buy rate was 2424. So your position was closed by the buy rate at this particular moment, because your position is sell position.

peter jeroen schouten (Thu, 9/8/2016, 02:17:47 pm)
That is not true

peter jeroen schouten (Thu, 9/8/2016, 02:18:04 pm)
It was 2356 at 09:01

peter jeroen schouten (Thu, 9/8/2016, 02:18:35 pm)
What you are saying can never be true because austria 20 has a 12 pip spread

Chavdar (Thu, 9/8/2016, 02:19:57 pm)
Please note that this Instrument (Austria 20) has a Dynamic spred. With the dynamic margin, the difference between the Buy and Sell rates is not fixed and is constantly changing based on recent market data.

peter jeroen schouten (Thu, 9/8/2016, 02:20:24 pm)
And where can i see what you are saying? What graph can i consult?

Chavdar (Thu, 9/8/2016, 02:22:43 pm)
Just a moment, please.

peter jeroen schouten (Thu, 9/8/2016, 02:25:34 pm)

Chavdar (Thu, 9/8/2016, 02:26:49 pm)
I would like to inform you that once we close this chat your query will be forwarded to the relevant department. You will be contacted via email, once there is an update on this matter.

peter jeroen schouten (Thu, 9/8/2016, 02:27:05 pm)
What is this about?

Chavdar (Thu, 9/8/2016, 02:28:07 pm)
Sir, I will escalate your query to our relevant department, and once

Chavdar (Thu, 9/8/2016, 02:28:37 pm)
i have their answer I will write you immediately.

peter jeroen schouten (Thu, 9/8/2016, 02:29:25 pm)
Ok. To me it sounds like I will never hear anything again, but thank you for patience and time

Chavdar (Thu, 9/8/2016, 02:29:44 pm)
I assure you that we will contact you.

Chavdar (Thu, 9/8/2016, 02:30:05 pm)
Thank you for reaching us. Bye. Have a good day.

peter jeroen schouten (Thu, 9/8/2016, 02:30:14 pm)
You to, thank you again.

Any additional feedback or suggestions?
Did you get the answer you were looking for? No, my questions were

So senior Staff naturally replied with the same kind of response but no proof whatsoever.

To me this is a case of stoploss hunting. Be carefull spending your money at +500
Reply by Plus500 submitted Nov 16, 2016:
Dear Peter.

We have been able to locate your correspondence with our senior staff in this matter.
As far as we can see, the matter was resolved to your satisfaction.
If so, please would you reconsider your rating?

In case you have any further questions or be in need of additional assistance regarding our services, please feel free to reach out to our support team.

, Hong Kong,
Jun 13, 2016,

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.

Keiron West,
Bauska, Latvia,
Mar 18, 2016,

I withdrew money on the 3rd March 2016, it is now the 18th March 2016 and I am still waiting, they will tell you to contact plus500 customer service, but I can tell you that is pointless, they work off a script and they do not respond in any sensible time, 1 week and I am still waiting for them to tell me what has happened to my money. I have another big withdrawal from the 15th March 2016 but I doubt I will see that money either, just a bunch of thieves with pretend customer service, better to get in contact with the financial regulation service according to what people who work from other CFD and Forex companies, they are well known for not paying. they took my money within seconds of depositing it but refuse to give what I earned. nothing but thieves, I am completely approved and verified so there is no reason to not deposit my funds into my bank account.
Reply by Plus500 submitted Nov 14, 2016:
Hello Keiron,
We have located your correspondence with our support team in this matter and as far as we could understand, You have declared that the issue was resolved.
Should this actually be the outcome, we would be delighted if you reconsider your rating as well.
For any clarification or assistance, please feel free to contact our most dedicated team of supporters -
Lisbon, Portugal,
Mar 15, 2016,

I´ve made a profit of €2164.15 from various days and positions in less than a month. When i try to withdrawl €3665 they took a week to tell me - "The term “Scalping” is defined in the Client User Agreement as “a trading method based on the notion that the Client opens a number of positions and closes them in a very short time (within two (2) minutes limit) in order to accumulate quick profits from small price changes”. and "Any profits made by scalping activity were made void. This is what happened on your trading account balance. The amount of your scalping profits in the sum of 975.75 € was deducted from your trading account." So they put back €2669.40 and yesterday i made a withdrawl of €2669. Until now they didn´t aprove my withdrawl, disabled chat, and dont reply back on support page zendesk. I posted this here after reading many of the complaints here and ather sites. I think this have to be REALY REGULATED. On casinos, sportexchanges, sportbrokers, there is a tight regulation, how come in financial products, things like this happen? Its beyond imaginable. I would like to know how can i solve this issue. Thank you.
Reply by Plus500 submitted Nov 14, 2016:
Hello RS,
Please consider that our terms and conditions are stated in all relevant information sources, such as our website.
We can see that the matter you are referring to is currently being handled by our most dedicated senior staff and you will receive a reply within the relevant correspondence.
Feel free to update us in case you will need more information or have an unresolved matter.
We will gladly assist.
Lucca, Italy,
Feb 23, 2016,

They not paying my money, i deposited $500 to test them and after making something around $900 i tried to withdrow $700 just after i sent the request they blocked everything, and telling me i did wrong trades bla bla, they not telling me what are these wrong trades and i used their platform and used their prices. Cyprus need to take action aginst this scam company asap.
Reply by Plus500 submitted Nov 14, 2016:
Hello Tony,
Note that our terms and conditions are stated in all the relevant information sources, such as our website.
In case you have been informed regarding any abusive use of our trading platform, you are more the welcome to contact our support team for more insights in this matter.They will gladly assist.
Sussex, United Kingdom,
Feb 22, 2016,

I opened an account for 1 week and I had two margin calls they took all my money two times, and after that they stole £900 from my account without reason and now they are trying to think of something each time they change the reason of why they took it. Never invest any money in plus 500. The stop losses don't even work!
Reply by Plus500 submitted Nov 14, 2016:
Hello Hamza,
Checking the issue, we can see that it was already reviewed and handled by our senior staff and after their last reply, you have not contacted us again.
In case you have any further questions or be in need for further clarifications, feel free to contact our support team
and they will gladly assist you.
Dundee, United Kingdom,
Feb 8, 2016,

Reply by Plus500 submitted Nov 14, 2016:
Hello Graham,
As we can see, the matter you are referring to was already reviewed and handled by our senior staff.
Unfortunately, we have nothing more to add, then the information that was provided to you within the correspondence.
Should you have any questions in this matter or be in need for assistance regarding our trading platform, feel free to contact our support team
Tartu, Estonia,
Jan 17, 2016,

I opened account with Plus500 couple weeks ago, they gave me free 25 euro bonus. So i started trading with that money and week later i earned 800 euro. So i sent to them my ID and bill and after 5 minutes they verified my account. Then i decide to withdraw 400 euro to my personal bank account, but after i did that, next day they closed my account. They said that i already have account with them and i was not eligible for a 25 euro bonus and my account will remain closed. The problem is that this is my first account and i had never traded before in my life. I don't know what to do and i feel totally scammed. They don't answer me, i asked them if you want take your 25 euro bonus back, but give me my honestly earned 775 euro. Plus500 just answered your account will remain closed and i have to trade on my another account, but i have only one account which they closed.
People please be very careful with them, they can just close your account if you are too successful with your real deposited money and you will never see them again. I'am very happy that i didn't deposit my own money.
Plus500 scammers
Reply by Plus500 submitted Nov 13, 2016:
Please note that our bonus offer, as stated on our website, is limited to only one account per "household".
Read more about it in our help pages -
Also have you reached out to our most dedicated support team for further information regarding this matter?
We are sure that they will be able to provide with a detailed and personalized reply and change your opinion on us.
Regards Plus500
pieter vogel,
gent, Belgium,
Oct 15, 2015,

Issue escalated to Traders Court pieter vogel vs | RESOLVED
The FPA is pleased to announce that this issue has been resolved.

bad broker, blocks account if you make big profit.
I have made withdrawal and it's still open after 9 days. No answers from plus500..
Matt Diamond,
France, France,
Aug 10, 2015,

My account is "restricted" since May.
It's been 4 months and I can't trade with the money I deposited,

and I can't withdraw. WTF This is BULL**** i'm telling you. F*** plus500, they can die in hell.

Hope they like the money they've stolen to me and to other people.

Their stupid Cysec is only an association,
and only putting plus500 to court can make me get back my money...

Review Moderation Team Note: Cysec appears to belong to the Cyprus government. There is also a Cyprus Financial Ombudsman which can take complaints.
singgapore, Singapore,
Jul 19, 2015,

After waiting for more than 4 months, I still could not withdraw my account balance
Paris, France,
Jul 18, 2015,

Well, i was happy until i saw their platform is not working. I put 6000 euros + in my account and they blocked everything. To explain why i 'm angry please check these 2 picture which are from the same day : and - they apologize to me and offered me 1000 compensation which i declined
Rome, Italy,
Jul 14, 2015,

L' account "nenetrade " è stato da plus500 dichiarato è verificato conforme alla nuova normativa antiriciclaggio ed attivo ma il saldo di oltre 35k presente sul conto è sparito. Sempre disponibile a documentare quanto detto
The 'account' nenetrade 'was declared by plus500 occurred it complies with the new legislation against money laundering and active but the balance of over 35k in your account is gone. Always available to document what was said
Lucrecia Ortiz,
Rome, Italy,
Jul 13, 2015,

The account 'nenetrade' was declared by plus500 occurred it complies with the new legislation against money laundering and active but the balance of over 30k in your account is gone. This platform is the much-hyped? Each of the readers his conclusions. Always available to document the above, available with tips and suggestions to solve this age-old story that goes on for months.

Ossi Partanen,
Espoo, Finland,
Jul 9, 2015,

Hey all,

I made 2000€ withdrawal on 10 Jun 2015 and after one month and tens of emails they - so far - never gave me my money.

Very lousy customer support - no live chat - no telephone numbers.

When using email (presumably a robot) sends a reply in seconds telling that :
"Please note that we are currently experiencing a larger workload than usual and it will take us longer to respond your query" .
After this it might take weeks to get a mail from actual cust. support member ..

, Italy,
Jun 7, 2015,

stay away with this site, its a scam!!! the dont want to withdraw your money.
sorry for english
Felix W.,
Berlin, Germany,
May 20, 2015,

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.
Haas FXTrader88.TK,
Singapore, Singapore,
May 18, 2015,

I knew something was wrong with this broker. My account now has made triple the profit from the bonus amount they gave. And when i tried to verify my account, they keep rejecting it giving stupid reasons like the picture is not clear or there is no expiry date to my CITIZEN National ID card. There is no expiry to my National ID in Singapore and i have not been having problems verifying myself to other brokers!

STAY AWAY FROM THIS BROKER. No Joke, WORST BROKER, c****y trading software.

STAY AWAY! I will blog about this broker, i will make sure it is well shared outside FPA and intro people to FPA to look at this review.

Carina Chan,
, Singapore,
Apr 30, 2015,

I have had experience trading Commodities and Futures in Singapore and was drawn to Plus500 due to the leverage. I had no problems whatsoever with my trading strategy at other platforms. Registration was simple and I verified my documents.

Subsequently, I made profits with a total balance in my account amounting SGD$73,187.34. Initial investment was SGD$10,000 with a SGD$330 bonus. My account was limited due to scalping activity and my withdrawals capped at the initial investment made. I have recently read about several such similar cases as I was worried about recovering my money.

Firstly, refunding me the initial cost still results in a loss for me due to exchange rates and charges incurred by third parties such as Skrill for the refund. Secondly, I took on a substantial amount of risk in order to achieve such a profit. As with every investment, the greater the risk, the higher the reward.
, Switzerland,
Apr 26, 2015,

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.
, Cyprus,
Mar 26, 2015,

Be aware!

- Closed my position in MINUS
- Canceled my withdraw without permission in order to cover the Minus
- Postponing withdraw more than 5 days.
- Abnormal expensive swap/overnight premium
- Poor quality of costumer support

, Australia,
Feb 27, 2015,

I requested to withdraw my initial deposit of $5000, five days ago still haven't received any response.
Two days before I emailed them two times regarding a question that I had, still no response from customer service.
No live chat, no phone number.
I am very disappointed with Plus500.

Dean Wegemans,
Amsterdam, Netherlands,
Jan 18, 2015,

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.

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.

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:

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).