Plus500 Review

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!

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

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. "

Terrible, extremely bad performance. Possible unethical behavior. attenzione pericoloso

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.

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.

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

Warning: Don’t trading with them. You can create acc and deposit your money easy but when you want to withdraw that will be a different story. Thinking first because you can lost all your money. I had a nightmare with them.

Was easy to open the account, trade and then make withdrawals. As long as you know what you are doing trading CFDs the rates are very competitive. I had no issues depositing or withdrawing. Withdrawing was faster with plus500 then with IG.

Plus500 Rigged my trades...

One thing to start with before I begin talking about my experiences, with plus500, as I have a few red flags that slowly grew to my attention. Firstly prices of cryptos listed on Plus500 don’t match to the live cryptocurrencys exchanges such as Binance, Bitfinex etc.

The prices are simulations of the market, so why can’t Plus500 close trade on your requested/set stop losses and take profits.

79% of contract for differences traders lose.

Spreads are far from fair puttting the trader at a disadvantage from the beginning of a position.

Plus500 also claim that it is the traders responsibility to look over their equity and positions, however this was not the case when it come to the positions I was holding.

My positions closed after a very sharp fall which raised some red flags and come to my attention. I feel that there is some solid evidence to prove Plus500 have a rigged system put in place to put the trader/customer at a serious disadvantage.

I opened three positions totalling an equity of £1800, I had eventually gained a profit of up to £1200 at its highest point. Then it suddenly quickly declined reaching my apparent maintenance margin of £934.79, which meant that my positions needed to close in order to maintain certain positions.

Initially I had thought that once the maintenance margin had been reached, all three positions I was holding would essentially close. However this was not the case according to Plus500.

They had closed one position at a time, to maintain the other positions and allow them to stay open for example I was £220 up on one trade which had closed first in order to keep another trade that was essentially in £100 in profit open, then apparently they had to close this trade, in order to keep my main position that was losing the most money open.

However this was not what came to my attention. What had came to my attention was how each trade had closed individually and the apparent explanation or reason behind the ORDER of trades closing.

Plus500 said positions close in the order of the position with the highest maintenance margin first. This is to keep positions with a lower maintenance margin open that way there will be enough equity to keep certain trades open.

This statement above had contradicted what happened in my situation with my positions that I held.

I was holding positions in cryptocurrency, they would have been as follows:

NEO - Maintenance Margin = £408.17

EOS - Maintenance Margin = £272.47

ETHEREUM - Maintenance Margin = £254.15

The order I just listed the positions in (shown above), is also the exact same order the positions should have closed on, however they closed in a different order that did not go with the processes Plus500 claims to follow.

The trades closed in the following order:
EOS
NEO
Ethereum

The order they closed in also seemed very suspicious and tactical to some extent.

Plus500 then happened to first close the trade that was profiting the most and also with the lowest leverage, so essentially the lowest risk to myself. EOS at the time was also hedging a position and compensating for Ethereum’s losses. Once EOS had closed the losses could easily multiply.

They had then closed NEO which was also a lower risk than Ethereum and also in profits at the time.

Coincidentally NEO and EOS happened to be trading 20% higher than what I bought it and closed my positions at. and that happened within 48hrs of my trade being automatically closed, so I’ve missed out by my calculations (which are quite accurate), on a profit of around 4k.

Here is the Positions Leverages (note this is also the order in which the trades closed in, coincidence I think not):

EOS - 1:5
NEO - 1:10
Ethereum - 1:15

With ethereum being the only position open, being the only trade in the red and having the highest leverage the losses come very quickly and unnecessarily.

Even at that however I should not have fell below the equity of £934.79 (as this was my apparent maintenance margin) and this is where my argument stands the most. I woke up to my equity around £300 and my two most profitable trades closed a good three hours before this.
P.S I would not be making a complaint if my equity stood at that Maintenance margin of £934.79.

If I had ethereum close first after reaching my ‘maintenance margin’ I would have been profiting above that figure of £934.79.

So to summarise...
They didn’t close all the trades after reaching my maintenance margin.

They didn’t close the trades in order of highest maintenance margin first, (as they stated they do).

They closed the trades in highest profit first.

Closed the trades with lowest leverage (essentially risk) first, so my losses could multiply quicker with ethereum’s high leverage.

Then made it clear in the live chat that it’s the traders responsibility that I control my trades, when they took control and closed them in a suspicious/rigged fashion.

I have screenshots and pictures of my Live chat conversation with an advisor and also of my positions,
maintenance margins etc.

It’s first time using this so I
don’t know how to upload ifsomeone could advise me how to do this, that would be much appreciated...

I have to report my personal experience. I started trading with PLus 500 UK in February and made profits most of the days. Now over the last couple of days I paid in a total of 6k EUR and made profits of 6,3k. I was very happy about that.

After I requested the withdrawal of 10k (daily limit) I was informed that my withdrawal was under investigation. Since 4 days I have not got an explanation why my account was investigated. After 3 days they cancelled the withdrawal and informed me that my account is under investigation.
I asked the support several times every day to at least tell me what the investigation is about. No answer. You can't imagine the conversations I had. "Senior staff" will get in touch with you asap". You hear the same thing over and over. In my opinion when you get your account blocked it is not too much to ask why. Nobody told me why I am under investigation.
On the FCA (UK) page I got hold of a phone number of a manager. I am not sure if I understood everything correct but I think he told me my account was flagged for scalping.
As you can find online, from many other comments of traders, that is something that happened to others as well after winnings with Plus 500. You get accused of deliberate scalping. It is questionable what scalping is and if it actually can be prohibited by terms and conditions.
Be aware Plus 500 states that trades opened and closed in less than 2 minutes can be qualified as scalping. The can reverse these trades. !!!Only the positiv trades!!! Even days after the trades happened. (A funny note if it weren't for such a high amount: In the automated mail that told my account is blocked and I can't trade or withdraw my money, they told me I still will be able to deposit money to keep open positions funded. That would be really something worse calling "money down the drain").

Please note: When you are CFD trading, my experience is that you hold winning positions for a shorter amount of time. Because you want to realise your winnings.
Losing positions you might hold longer because you wait for a turning of the position. So when you have a good streak of trades you might up ending with the accusation of scalping and your account can be closed because your trades were too short. How you can "abuse" such a strategy with Plus 500 I can't understand. To close a position you have to click twice wiht a little internet delay. So if you have several positions open you need several seconds to close all positions. I very seldom sale for the price that I hit the sale button with. (That can move up or down- no complaints here. But I think the software of Plus 500 used on a normal Computer or phone cannot be abused with the short holding of a position. Positions move up and down too quickly compared to the closing time.)

So when trading with Plus 500 you have to check not only the position itself you also have to keep an eye on the time you are holding your position. So let's say you hold your trade for 1 and half minutes it might be better to wait even when the course moves against you.

Back to my case:
Right now I am still waiting on a written confirmation of why my account has been blocked. I cannot access my deposit and I can't have my winnings.
The reacting of the support chat indicates that freezing an acount with 12k in it is normal business. Don't expect any sympathie or understanding of your situation.
Today I even got the impression they are laughing behind my back.

You can imagine the rollercoader of emotions.

I am still waiting on senior staff getting back to me. So I might be able to get my money back. So I would also be fair and report a swift solution. But the 4 days of uncertainty can't be remedied.

(disclaimer: I am not a spammer but want to share my experience. So I will leave the same post on other web pages as well. I can verify my story if requested by an administrator.)

Possibly the worst broker ever. When you lose money they update the quotes very very quickly, when your profit turns green, the quotes are updated less than once per second, sometimes the instrument simply becomes unavailable and they make it impossible for you close your position. 100% market maker who trade against you.

I have received my money today, it has not been because I was due to this delay but I have to say that I have received the money, perhaps it is due to mastercard because my bank can not track the ARM code nor can it expedite the return, but being sincere although the terms that say plus500 have not been met, I have received my money and everything is ok at this moment to be honest. Maybe I was alarmed by the delay in seeing other cases in which people had not received their money

Jun 9, 2018 - 1 Star Ticket 3753882 3755999 I made a withdrawal of funds 10 days ago and I still do not have my money .. where is it? they do not know .They only say that they have sent it but it is not in my bank account and they only know that they are working on it. Professionalism? Do you trust in plus500?
I made two withdrawals earlier this debit card this month and everything was correct, but now in the 3 withdrawals of money 10 days have passed and I have not received the money, they give me an ARM number that is untraceable by my bank and they just tell me that they sent it and they do not give me a solution.
I have read in the forum and have seen the same case several times ,

hey have kept my money and only give me an ARM number that does not prove anything. The transfers once sent did not take me more than 3 working days

I'm worried because by reading the other cases none of them recovered their money. I'm going to report at the FCA
and in
https://www.cysec.gov.cy/en-GB/home/
and to publish it on all social networks until I get my money back
that they have stolen.
how a company that makes millions of euros can steal from its users
Such ridiculous amounts and bad press?

They know that the number RNA is untraceable by banks and that
If that transfer had been made correctly, I should have the money in my account.

I do not have many illusions to recover the money because I have read that these cases are common


Hello everybody,

I became Plus500 member 28Mar2015.

Initially things went well;
First withdrawal (1000€) arrived pretty fast in just five days on my PayPal account.
There was no need to consult their Customer Support.

Then came time to make my second withdrawal (2000€) on 10Jun2015.
To this date I've not received it - one month has passed !

I've mailed them many, many times and at the moment I have three open "tickets" on their plus500.zendesk.com Support web site ...

30Jun2015 I got a one reply:
"Withdrawal #370373xxx was approved as a refund to card #8xxx.
You should see the funds within 5 business days in case you have online access, or on your next monthly statement."

Well - this never happened.


Their customer support is lousy.

Once you send a complaint you get automated reply in seconds telling:
"Thank you for contacting Plus500 Support.
Please note that we are currently experiencing a larger workload than usual and it will take us longer to respond your query."

And yeah - no live support nor phone numbers .

I wonder will I ever get my money back ...

he only thing they do is tell you that they are checking it out, when after being with them for a year, whenever I made withdrawals, everything was correct and I never complained about anything.

How can you say that the transfer was made if I do not have my money in the account - card? They know that the transfer has not been made or that it is wrong and they should
of returning my money immediately or is it that they like to steal in this way?

It is scam company.I withdraw my money but not reach me before 6 month I contact to support team but they told me it’s sent but not reach me.(all my details correct)

I've had no problems until now but I am now making a larger withdrawal and suddenly I receive an email saying my withdrawal is going to be delayed whilst my account is reviewed. Updates to be posted here over the coming days

I am puzzled why there is so much hatred towards this company.
Yes, they offer a more simplified trading software without the bells and whistles of MT4 or their support - but the software does what it says.
10+ members of my investment club also use Plus500 without issues.
I really think many of the issues are exaggerated but I could be wrong.

ALL withdrawals I've processed were sorted the same day..

Support could definitely be better however.

They promised a bonus after earning a certain number of trader points, but as I started doing good, the bonus disappeared

DISAPPOINTED AGAIN

After my on-going discussion with Plus 500, they finally approved my withdrawal.

HOWEVER, I withdraw the money on Nov 12 and 13, but the fund still not appear in my bank account. I called the bank, they don't find these transaction.

From my previous experience, once the withdrawal was approved and settled, I can see the fund on the same day. It happened to ALL my withdrawal before.

I'm pretty sure your side didn't send out the fund yet.

Nov 11, 2018 - 1 Star I followed the rules to play the game but my account was just locked yesterday. When I deposit money and lose money. Everything is fine to them.

When I started to win money, they will lock your account and reject your withdrawl.

My ticket number is 4054415

Now plus 500 stopped to reply my email.

I will start to do sth in Hk, trying to file a case at SF , but I don’t think it will help. For sure I will start to post in a few financial fourms to put people off trading in plus 500 as there are some using. It can go out to Asia very soon , hope less victims!

Reply by Plus500 submitted Nov 13, 2018 Hello,

We can see that your query is being reviewed by our senior team in ticket #4057330

You are kindly asked to reply in this ticket as you have an ongoing correspondence there.

We can assure that our support team will provide you with the best service possible.

Regards,
Plus500

Here in Holland (AFM) as well in France (AMF) the government warns people of Plus500 because a lot of people lost money they are investing the false game they play.
Be warned!

Last week my withdrawal was put on hold whilst my account was reviewed, and I promised an update today. At the time of writing the withdrawal is still on hold with no further clarification from plus500.com. I will continue to provide updates every 2-3 days until the matter is resolved, hopefully early this week.

Nov 14, 2018 - No Rating Account Review
I've attempted a withdrawal and been informed that it will be delayed whilst my account is reviewed. Obviously where a client's money is being withheld any review ought to be carried out with the utmost urgency. I will update accordingly on Monday 19/11/18

Reply by Plus500 submitted Nov 16, 2018 Hey,



Thank you for your comment.



Unfortunately, we couldn't locate your trading account, however, we can assure you that Plus500 is a fully regulated CFD trading company as you can read in our website and online - https://www.plus500.com/FAQ/Regulators



We thank you for your patience while your query is being handled.



For further clarification, please contact our Support - http://www.plus500.com/Help/ContactUs.aspx



Regards,

Plus500

I have to confess that Plus500 has become a very good broker.
They have the best mobile platform ever , fast enough , with rare requotes , many trading instruments and much faster withrawals than before,

Be aware they wont accept a provisional license ID for some reason I cant think of. They only tell you this after you have deposited

Plus500 is a full scam for every affiliate
they will lie to you and tell that you have to wait 6 months to check the traffic are you sending and of course afterall the tell you couldn't pay.....

BE far from their high offers because you won't receive a cents......

this company does not give profits. They manage to maintain their worthless Cysec licence because too little people complain. Clients receive almost threatening emails from Isreali people and give up. People write to Cysec or financial Ombudsman! This company should never be granted a license to operate in this business. They are happy till you lose. If you make profit, they refuse to give it by suspending the account in question.
also, if they claim that they earn money with the spread (that is clearly not true), why don't they allow scalping (more open positions, more spread correct?) nor EA? they claim that scalping is against the market rules. but the point is that retail traders trade CFDs that are derivatives are CANNOT move the market in any way! also the quantity traded would not be sufficient to manipulate the markets, as they claim in their threatening emails.

I already wrote to Cysec with some examples of their threatening emails, I hope they will lose their license soon.

I have had a very bad experience with Plus500. Their screening questionnaire can highlight your unsuitability and YET they can still allow access to inexperienced and low income consumers like myself. Not just that, you can just click on the disclaimer to gain access - even if you are mentally impaired. This is irresponsible and they respond by placing all the responsibility on the consumer. Surely they should better screen for "appropriateness" as the Financial Ombudsman highlights.

A phone call to Director Mr Weston resulted in him cutting the call dead - even though he had been informed of disability during the call.

This company has shown no compassion for the circumstances of this vulnerable consumer AT ALL. They have washed their hands

There is no way a loan would be given to them: why should Plus500 therefore permit them to lose 000's, including from a credit card that wasn't verified and do nothing? Why, on disclosure of illness, did they terminate the account? This is appalling behaviour and extremely irresponsible.