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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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

Mario Zebbugi,
Malta, Malta,
Feb 23, 2012,
Guest

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)
 
Peter336,
NSW, Australia,
Jan 26, 2012,
Guest

From reading 75-85% people review Plus500 as a scam, I want to get my remaining $938 dollars out of there after trading for about 3 months. If I send my 2-3 forms of ID will they use this info for more fraud? Will they give me my money back? Why aren't FPA investigating this company?

Review Moderation Team Note; If you want the company investigated, you'll need to open an FPA Traders Court case and actively participate in it.
 
PS,
, Greece,
Nov 21, 2011,
Guest

-Changing trading hours without notification, lousy diagramms, terrible client service, automated- like emails, seem not to understand the essence and/ or severity of issues put on them.

+Thank god i wont be paying them any longer, learnt what real trading is NOT about, became wiser.

A-V-O-I-D.
 
verry,
singapore,
Oct 19, 2011,
Guest

I am unable to withdraw my money

They will ask you, ID card, Credit Card, Utility Bill, Passport, and you will see your credit card being used everywhere

pluss 500 is scam

they will strip your Card and Identity.....but They will not show their identity

No Phone, No office
 
Marcel,
Netherlands,
Oct 12, 2011,
Guest

Today, I received an email from Plus500 stating that I am scalping if i close a trade within 10 minutes from opening it. They then directed me to wikipedia for more information about scalping (turns out they believe i do 1000's of trades a day for a small profit, lol). After googling a bit i found out that they mention but dont specify 'scalping' in their user agreement. Turns out 10 mins is the minimum time one needs to hold on to a trade with this 'broker'. Since i always set my stop as close to my opening as is possible by their platform (12pips) the chance i get stopped out before 10 minutes is over is huge, therefore i will need to lower my leverage and set much larger stops, greatly affecting my profitability. The funny thing is that when i was losing money, they didnt bother with me at all, but now that i actually made some profit, they give me a 10 minute timeframe before i can close my trade, so that i will have to run great risk in these volatile currency markets. Because of this, I am pretty sure they profit from your losses. Please stay away from them!
 
Mikko,
Finland,
Sep 25, 2011,
Guest

Today got an email from plus500, they just closed my account for the reason i did scalping. Infact they want you to lose the money even you are in big profits; you have to wait for 5 minutes to close, any trade less than 5 minutes will be considered as scalping so they have good reason to deactivate my account and will eat the profits themselves.
I feel myself little lucky as well as i had already withdrawn the major amount 2 weeks ago but still 1K euro was left them :(

I warn all readers, try to avoid plus500.com because if time frame of any of your trade is less than 5 minutes, they can do the same with you. Better to try other broker.

Regards
 
zac,
malaysia,
Sep 24, 2011,
Guest

Before i start trading, i read a lot of bad news about plus500.
Now, i am active in this platform and it is good, providing chart and you can select the indicator that you like.
The most important part is i SUCCESSFULLY withdraw my money, just take a bit long time (1-2weeks).
Erm, something bad is the return rate quite low compare to anther platform.
 
Rob,
Netherlands,
Sep 20, 2011,
Guest

I traded quite a lot on the plus500 platform and made some handsome profits. Then they closed my account and confiscated all profits because I would have been scalping, at plus500 that would be any trade shorter than 5 minutes. Be warned that they will take all of your profits as soon as you have a single trade shorter than 5 minutes!!
 
Petr Sedivec,
PRG,
Sep 15, 2011,
Guest

decent mobile (iphone/ipad) trading platform (charting very basic), delays in execution and frequent re-quotes.

frequently, however, quotes on open positions are completely off market (such as 5points below the actual S&P500 on one of my open positions).

customer support very basic, didn't bother to reply to any of my 3 emails asking explanation why they quote my long open position well below the market. (can prove on request)

avoid.
 
Dhr Restje,
The Netherlands,
Jun 30, 2011,
Guest

Update: They really did pay me out my profit. The transfer took about one week. My conclusion is now that Plus500 is working normal as as forex-broker.

2011-06-03 No rating
Very basic platform.

Positive: Very big choise for indices, shares and funds. Can trade Gas and Platina.

Negative: Charts are useless. Tools are useless. Unclear what company is behind it. I send one email, to ask if they have conditions in more languages ? But never got an answer.

So far I did not take a withdrawal, I hope they pay when I do. :-p

Conclusion: PLus500 is not really convincing, but if they really pay, I might stay. Just to keep them as a reserve-broker option.
 
Emilian Hristoff,
Bulgaria,
Jun 2, 2011,
Guest

Absolutely unethical behavior. I wouldn't even call them a "broker". I mean what kind of broker is that without a phone??? Do they use post pigeons instead??? I'll never ever trade with them. They are frauds 100% and the prove is here - http://whois.domaintools.com/plus500.com Take a look Whois History: 547 records have been archived since 2008-05-09 . This alarms instantly the red light in your head that there is something wrong if someone is changing his website whois 547 times in just 3 years...
 
Edgar,
Mexico,
May 23, 2011,
Guest

It works fine to me.
I can easily trade according to my strategy and get my earned money in a week via wire transfer directly to my bank account.

In terms of graphics and charts, maybe it's not the best platform, but it gives you enough tools to work.

I can't understand why some people blame the platform for loosing money... when reality is that they loose due to their own mistakes...
 
Andrew,
Malaysia,
May 16, 2011,
Guest

I did some research & found Plus500 scam all over, so i decided to "attack" them by an e-mail interview
May I post a link here? As it's quite detailed, 3 pages long
http://adf.ly/426331/plus500-scam
I don't know of another way to inform traders here without using a link...
If i'm not allowed, plz teach me of another way thx

Review Moderation Team Note: 4 star rating removed. In your interview at the link, you mention that you are an affiliate. This means that you have a vested financial interest in the company.
 
Yazid,
Singapore,
Mar 18, 2011,
Guest

I opened an account with them and had problem with them from the start. They tried avoiding giving the bonus with the silliest reason ever and instead ask me to deposit real money.
Below is an email extract:-

Hello

Thank you for contacting us.


Like stated before, we can not approve another phone approval bonus.

Regardless we will be happy to offer you a bonus for your first deposit,

When you make your first deposit, use one of these bonus codes:
FIRST100: Deposit 100 Dollars/Euro, get a 30 Dollars/Euro bonus.
FIRST500: Deposit 500 Dollars/Euro, get a 150 Dollars/Euro bonus.
FIRST1000: Deposit 1000 Dollars/Euro, get a 200 Dollars/Euro bonus.
FIRST5000: Deposit 5000 Dollars/Euro, get a 1000 Dollars/Euro bonus.

To do so click on "Funds Management", then "Deposit" then use one of the bonus codes above and enter it in the "Bonus Code" field.


If you require any further assistance, feel free to contact us.

Best Regards,

Miles
Customer Support
Plus500.com


- Hide quoted text -
On Fri, Mar 18, 2011 at 5:17 PM, Yazid wrote:

Hi,

But i don't even know who's email is jas.james@live.com. Do note that my address is at 770, #03-154, Woodlands Drive 60 as registered in the account and this is my first time foraying into forex.

Please assist. Do revert back to me if you need any details.

Thank You
Yazid



On Fri, Mar 18, 2011 at 6:08 PM, Customer Support wrote:

Hello,

Thank you for contacting us.

Please note that if you have successfully verified your phone number, but have not received the bonus to your account, then surely it has been obtained previously in other household expense.

The welcoming bonus is limited to only one account per household (one account or one household will be determined on the basis of one, all, or any combination of the following: name, phone number, mailing address, e-mail address, IP address, name on credit/charge card, credit/charge card number, and any other form of identification which may be required).

A bonus was already received to account jas.james@live.com, therefore you will not be able to receive it more then once.

If you require any further assistance, feel free to contact us.

Best Regards,

Miles
Customer Support
Plus500.com





On Fri, Mar 18, 2011 at 2:14 AM, Yazid wrote:

Hi,

Ihave validate my account and phone number but have yet to receive the bonus money. Please advised.

Thank You
Yazid

How can you trust a company that cannot differentiate 2 different persons and accounts? You might end up with someone else withdrawing from your account. And the weirdest thing is, there are only 2 person in my household, me and my wife. Possible scam in progress here.
 
Rob,
UK,
Mar 8, 2011,
Guest

They kept on calling me to make a deposit, and the advisor couldnt answer any of my questions, anyway i took caution and said i wasnt interested.

Then 1 day i was on the site i was going to make a deposit and it declined, i emailed customer service and they just said i cant have an account with them, with no explanation. email response below:

Hello,

Thank you for contacting us.

I apologize, but you can not trade with us.

Sincerely,
Marion
Customer support
Plus500.com

I would not trust this company and will not trade with them.
 
Kevin,
Europe,
Feb 16, 2011,
Guest

last +5 stars rating appeared, just after I wrote to plus500 support email with question, why your reviews in this websites is all about scam :)

I said, I will never work with you. And I did not get any email back from them. Usually they sent me all emails back before.

It is possible, the DUBAI guy is 500 guy :)

I do not trust them after red your reviews! Thank you!
 
Vasco Morais,
Lisbon,
Feb 10, 2011,
Guest

I was tottaly scammed with this platform.
I Use plus500 at work and at home, i started making money with their bonus, when they cut off my account saying that i was using multiple accounts, that i can garantee that's not true.
I Would say , stay away from this platform, fortunatly for me i didn't put any money in it, i wish there's a place where i could do a formal complaint about this company since i spend hours in it!
 
SOHAIL AKBAR,
DUBAI,
Feb 4, 2011,
Guest

I never understand why peoples are making fake comments about brokers, I am trading with plus500 since July 2010, I had started with AED 2800(united Arab emirates currency 1 $ equal to AED 3.67) so I trade in gold then in oil, I made good money 1st, I withdraw AED 2000 that came in my bank account within 5 working days via money bookers. After few weeks I withdraw again AED 3000. After that I lost around AED 6000 Due to my own mistakes. I deposit about 3000, in month of December and January I deposit around AED 45000 and I started in forex (EUR/USD) (GBP/USD) I earns good money I withdraw from plus500 AED 35000 and that money came in my account in 4 working days and still I am having good amount of money with +500, they do not having live chat but there e mail replay is very fast so it is not end of world. Losers stop bad words against plus500. keep it up plus 500

Review Moderation Team Note: We can never understand it that some people accuse anyone who claims to have had a different experience with a large company of leaving fake reviews.
 
K.S. Lai,
Malaysia,
Jan 17, 2011,
Guest

Plus500 is a reliable invesment company, I start to joint Plus500 on November 2010.It easy for me to deposit money for invest in forex n commodities. On 11 January 2011 I withdraw for the sum of RM635 and on 18 January 2011, I received my money by the sum RM604.55(the RM 30.45 I think is the bank comission). Thank you Plus500 for your efficiency and I trust u...and continue invest with u..... Lai.
 
No_Matter,
Europe,
Dec 13, 2010,
Guest

started making money with their bonus and they soon canceled it.what a shame.nowhere is written that the bonus has an expiration date.

Lost my time here.....
 
Blaze,
Sydney,
Nov 17, 2010,
Guest

I agree! Plus500 & 10Pips are the same scamming platform. They build your confidence(making money) on the demo and then scam you on the Real money.
I invested $1000 to begin with,but the market took a turn and I had to deposit another $1000 into my account to stop liquidating. I then made about $1200 on top of my $2000. Then everything turned BAD' every single STOP WAS HIT, before I knew it I was down from $3200 to $900. I eager to recoup and deposited another $1000 thinking I needed to get back my (demo) strategy.Then it happened again from $1900 down to $1200. I had enough' and decided to take my balance out' which surprisingly did arrive 3 weeks later.
Currently comparing Plus500 & 10PIPs, with other platforms eg; IGmarkets, Halifax, etoro, and they are all stuffed(scams)' They NEVER EVER again, trade with real money on these platforms.
 
oan,
riyadh - saudia arabia,
Nov 9, 2010,
Guest

there margin policy have a lot of problems i guess i was rushed so i will make a correction here ,i made money with them but the margin policy is so bad and the plateform is so simple it can break and not connect in importnat time for me margin policy is very importahnt as it shows you if teh broker cares or not and i think most f brokers dont really care because they will win more banks that way and more commisions also in this terrible economy crises so be ware find yu a better margin policy broker and you will find the best broker you can have please fliex deltee this childish previous review i made 200% profit and i am so happy then to writye that i will be more carefull in future and be carefull iit is money what you can buy home car and land and that what they are looking for to buy our real states by our money so be carefull please

2010-04-23 00:00 5 Stars Hello all
At end the first platform and service i really admired after dealing for 9 years with oanda .I hope they keep it up and the guy from Singpore how real cares who is helping you making a living :)
i hope the best for all and i am really anxious to make my first withdraw to my credit card soon i hope and all thumb up this is the best company platform i ever had fast in routing orders and good wide options .
 
Laurus,
Europe,
Nov 8, 2010,
Guest

Had a dialog with them over e-mail asking for their telephone number. Said they did not offer one for their clients because it was not necessary. E-mail was good enough. Yeah Right....

Like I would risk my money with people who hide behind an e-mail address. Some people just don't understand that doing something not right will eventually make it all end. Just as might do something else. But off course that would not be done right either. So they should rather quit and do nothing at all.

To the reader. Stay off. Don't get into something like: "Oh, things are probably so high tech these days that brokers do not need a phone number.
 
savoq,
Denmark,
Oct 26, 2010,
Guest

Hi traders

These guys are total scammers!! , i sadly found out too late, but there is still hope for you.

I have seen they charge way more than 2 pips per trade, and they are also manipulating with the actual exchange rate, so you first they overcharge for trading then they charge you when closing, see link !!!

Proof of manipulation: http://i51.tinypic.com/m73zet.jpg

Dont say you werent warned!
 
Josh Reclar,
France, Paris (Really Plus500's offices in Israel),
Oct 25, 2010,
Guest

I have traded with Plus500because I've seen in the FSA website that they are regulated.
I have deposited 2000 EUR and made some profits on Gold and Oil.
I also trade in Igmarkets, but Plus500 spreads are much better - Igmarkets have commissions also - Plus500 have only spreads.
All and all - I recommend Plus500.

Review Moderation Team Note: 5 Star rating removed. This review did not come from France. It came from Israel, where Plus500 is located. It came from the same location that a Plus500 employee emailed the FPA from.

The FPA does not appreciate review spammers.
 

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).