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
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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

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Traders Reviews

Bruce,
ontario, Canada,
May 5, 2014,
Guest

Horrible!...no phone....claim to have online chat support, they don't...email only...takes 24 hrs to get reply when something is wrong...they are an Israeli group operating out of London...they allow you to deposit via credit card and then won't allow you to withdraw funds after you have supplied all the initial documentation they request when opening the account.

GRAB YOUR MONEY AND RUN AS FAST AS YOU CAN AWAY FROM THIS BROKER...THEY AREN'T WHO THEY PROJECT THEMSELVES TO BE.
 
yang,
kota kinabalu, Malaysia,
Mar 27, 2014,
Guest

i was in this broker in 2010,, more or less about 6 months, later they suspended my account,, i try to reach them from their website link (contact us) sadly i only found these...support@plus500.com and
Faks: +44 203 002 7290 .. so i sent them email to complaint about my account,,but till now 2014 i got no answers..not only once i sent email to them. this broker is very professional cheater,, i hope they see this review,,you have your confirmation email and funding transaction email in my email account ,, u know this when you check your client list,, yoyanzee@gmail.com,,,no chat live support, no telephone number ,,u r cheater... i wonder how they acquire authorized company regulation from FCA and not being caught...
 
A.M,
Athens, Greece,
Feb 26, 2014,
Guest

Suspicious activity regarding their live charts accuracy, and trading ability. The only positive i have to say is that they have a large variety of stocks and my withdraw of 200euros worked.
 
Lloyd,
, United Kingdom,
Feb 12, 2014,
Guest

I had requested a withdrawal for <100 and it took 3 days. Another I requested >800 4 days and still nothing, hence my hunt to find the timescales.
 
Ahmed Mosad,
Cairo, Egypt,
Dec 23, 2013,
Guest

This company is blocked by link.net ISP in Egypt for many request to ban site due to scam claims from client in Egypt be Caution
 
Thomas,
Bruges, Belgium,
Dec 20, 2013,
Guest

I'm a beginner trader and used this broker because the software looked easy to use at that time. However, the more you learn about forex trading you begin to see that their application is way below par. You have no drawing options on their charts (lines, fib, ...).
On top of that they do not allow scalping and refuse to give a clear definition on what they consider scalping.
When I heard reports of people not getting their money back I took out my money (got it back, minus my losses off course... beginner trader...)

Don't go for this broker, there are other brokers enough. If the complexity of MT4 spooks you then find a broker that offers ctrader, I find it rather intuitive.
 
Kamran,
london, United Kingdom,
Nov 13, 2013,
Guest

Reliable choice , especially for UK based broker, One of very few fully FSA regulated broker, Hassle free secure paypal deposits and withdrawal, therefore no deposit or withdrawal fee, Withdrawals are relatively quick , Platform is very good for new traders as it is very easy to calculate lot sizes and it clearly shows how much money you are putting at risk and what exactly are potential gains or losses. All in all reliable UK based broker ! Keep up the good work
 
Pete,
UK, United Kingdom,
Jul 29, 2013,
Guest

I wouldn't like to say i've been scammed exactly. But to.withdraw funds you must upload a form of i.d. My form of choice was my passport. I included a picture of m passport including all of my relevent details but omitted my passport number. My plea was rejected and Plus 500 emailed me to tell me why. Apparently i had to include the whole passport. I told them, "If you think, in today's privacy climate, that i am prepared to give a complete stranger my whole passport details, personal details AND passpor number, then you sir, are out of your f***ing mind." They claim everything is fine as they are regulated by the FSA. To which i replied, as of March 2013, there is no FSA. So financial ombudsman it is.
 
Robert Morgenthau,
California, USA,
Jul 12, 2013,
Guest

Hello Forex Peace Army fans and moderators.

I didn't post a rating, since we haven't used Plus500. There are over 5500 traders in our circle, and we are currently using FXCM as our broker. We are having some issues with them and are migrating to a new broker. On behalf of myself, and the traders I work with, please let me extend our thanks to your forum. Without this information, we would have made a terrible mistake selecting Plus500 as our new broker.

Sincerely
- Robert


PS: Please continue with your efforts in maintaining an excellent resource for keeping traders informed.
 
Attila T,
, United Kingdom,
Mar 18, 2013,
Guest

I had a pretty good experience using plus500, their account verification process is fast and the withdrawal is also considerably quick. I used PayPal as payment method, deposit were made instantly and the withdrawal took 3 days, exactly as their customer support advised. All transactions went very smoothly, without any hassle at all. Their customer support always responded to my queries via email within a few hours. The platform is the only thing that they should improve, especially the graphs and the indicators.
 
Hisham,
Muscat, Oman,
Feb 20, 2013,
Guest

I'm really surprised of all bad comments about this service. I tried it myself. they are honest on all type of transactions. I withdrawed 4 time in less that 4 days . The feature of withdrawing from the platform is great. I never had any problem with them. I'm trading from almost one year . The response from customer service is very fast via email. My Cons is agaist the platform which starts slowly and not enabling you for hedging
 
Jerg,
Geseke, Germany,
Feb 14, 2013,
Guest

I only use the demo trial mode, which works quite good. Unfortunately there is no 60-sec-trading for testing.
 
dodi,
london, United Kingdom,
Dec 12, 2012,
Guest

i have been used that plus 500 about 1 year. with money transfer no problems just Platform is very bad !
 
John,
Scotland, United Kingdom,
Oct 5, 2012,
Guest

Demo account is impressive, so was thinking of investing real money. Reading these reviews, however has given me cause for concern.
One might expect a new broker to have teething problems initially, and hence earn some negative reviews. A decent broker would act on the comments, and an improvement in reviewer responses would be evident over time. This improvement is not evident for Plus 500; the latest reviews being just as adverse as the first ones. So, all I can do is to say: Thanks for the warning. folks.
 
Roberto,
BARI, Italy,
Sep 4, 2012,
Guest

Regarding 25€ bonus offer, which are supposed to expire in 3 months if you collect less than 60 trader points. I can confirm that during the last day before the expiring date many instruments were unavailable to me (grayed buttons or closed transaction), so it was impossible to collect the remaining 3 Tpoints in the last useful day.
I won't let them do something like this with real money.
Regards
 
Javier García,
Alicante, Spain,
Aug 8, 2012,
Guest

Oh, YESSSSSSSSSSSS, Plus 500 is a gang of awful scams. To the precedent comments I wont to add that IN CASE A MARKET IS CLEARLY HEADING DOWN (as today IBEX 35), they WELL AND GOOD disable the sell-box.

Best regards
 
milos,
belgrade, Serbia and Montenegro,
Jun 14, 2012,
Guest

Hello again. They have answered: "When you receive a bonus you has to fulfill the bonus condition within 3 month". OK, maybe I missed those conditions so I decided to check on www.plus500.com but what happened! I got this: "The site is not available from Serbia." Anybody can explain this? Little correction to FPA: there is no more Serbia and Montenegro, they are separate states till 2006. Kind regards!

2012-06-14 1Star I get the 'bonus" 1,000 rsd (serbian dinars), my lost in final row is -289.92, in summary it is -670.00 and available is 57.00. So, 1000 minus 289.92 is 330 but also 330 is 57?! I wrote them that math is a wonder, what else!
 
Antreou,
Nicosia , Cyprus,
May 28, 2012,
Guest

This is a reply to the review below from Mario Zebbugi, Malta

The only reason you got your money back is because you took a loss of 500euro from your initial 2000euro investment.You gave the 2000euro and got 1500euro back

Mario Zebbugi, Malta, Malta
Rating:
Date of Post: 2012-02-23
Review: Plus 500 is not a scam... I had deposited 2,000 and read your comments that is a scam.I panicked and withdraw 1,500 and spent 3 days worring because of you a**holes.Today Ive recieved them in my paypal account .They are legit I dont know why all this scam talking its al bullsh*t,all these clowns are saying that its a scam didnt invest properly and lost money and they want revenge on 500plus...I know its hard to believe but they are registered with FSA you can check yourself and I dont know why I believed you fools...Ive learnt a lesson from this dont listen to fools find the facts(FSA is a good proof)
 
Anonymous,
, Greece,
May 26, 2012,
Guest

If you like loosing money try this platform.

In order to make a profit you will have to go at least against these odds:

1. You have to bit the immediate earnings of Plus500 as they open a buy position for you well above the spot market and they open sell (put) position well below the market.

2. Their platform is very quick to inform you about the actual price when you are about to loose money but they are very slow in confirming a win position making it almost impossible to close on profits.

3. Overnight is also charged at a remarkable expense to your capital.

4. If you want to withdraw you have to pray for the guy that is running the business (I believe is only one or two) to accept the retrieval of your own money! Even if you have no earnings it is possible to face a lot of delays not to mention refusal.

To make the long story short:

DO NOT, I repeat, DO NOT make my mistakes. That link I followed on facebook cost me some hundrend euros.



 
Kurt,
Coventry, United Kingdom,
May 9, 2012,
Guest

They have a bad attitude about customer service. You begin to wonder how they will trip you up next. Then you pray you get some money out because they don't just pay it quickly and simply.
 
Gil,
, Israel,
May 6, 2012,
Guest

Hello,
I deposited there 1026 USD and
I made withdrawals of 2973 USD - and I got all of that money !
(a pure profit of more than 1900 USD !!!)
Gil
 
Damian,
U.K, United Kingdom,
Mar 13, 2012,
Guest

I opened an account around a month ago and to be fair to Plus500 they 'DO' require certain documents and if you don't supply those docs then forget withdrawring your cash. Obviously it's easy to deposit cash. Please remember that you have to supply, for example, the following: Passport, drivers licence, utility bill with address, credit card information (front and back) BEFORE you can withdraw.

I'm currently in the process of withdrawing cash to paypal so fingers crossed. READ the terms and conditions as I'm pretty sure that we all rush in without thinking and then COMPLAIN when we don't agree with something.

I also called the FSA and although they do not require Plus500 to have the above documents many establishments do... so them basically blanket term 'our regulators require'... they don't. Plus500, however, do.

I hope this review helps as Plus500 ARE regulated by the FSA are are pretty safe to use. Other than that double check the stock price at the time of purchase as I feel that there's something else going on with that (Hint).
 
George,
, Singapore,
Mar 8, 2012,
Guest

Plus500 world's trading machine or Plus 500 oil trading is SCAM.

If you deposit real money, you will never get them back.

I have so much money and simply could not WITHDRAW.

NO WITHDRAWAL possible.
 
Vito,
, Netherlands,
Mar 2, 2012,
Guest

Definately SCAM!

I made a nice profit on a share and I wanted to cash out a bit. That's where it all went wrong. This company doesn't want people to cash out, I guess. Terrible service, but I kept on mailing the helpdesk. I recieved standart emails over and over again, but after 10 standart emails I got a personal email, which was actually giving me the idea that they found me kind of stupid.

They said to me that I wouldn't have made any profits whitout their bonus, but I made the profits by smart trading. They needed me to get the 60 trading points before cashout.

After all, I got the trading points this week and clicked cashout for the 4th time. Now I'm still waiting. Disapproving my cashouts went a lot faster than this!
 
DAniel,
Porto, Portugal,
Feb 29, 2012,
Guest

HUGE scam company!

At te begining everything was OK, but when making some money and try to withdraw, they simply CLOSE your account. Thay only send you an automatic e-mail, It's very hard to get a personal ansewr to the e-mail, they only made up excuses to keep your account closed...I have a more than 8.000eur account blocked!... so keep away from them, no telephone number, and only automatic e-mails answers....
 

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).