Plus500 Review

1.566 · 164 REVIEWS
Updated: Jul 30, 2020 · Plus500.com  · Is this your company?

Plus500 is a CFD broker. Plus 500 offers the Mobile and WebTrader trading currency platforms. Traders with Plus500 accounts can trade CFDs on underlying financial instruments such as currency pairs, cryptocurrencies, gold, silver, stocks, commodities, options and indices.

Plus500
February 2016:  There is an FPA Traders Court vote against Plus500.  Unless this issue is resolved, the FPA recommends a very high level of caution dealing with Plus500.

October 2012:  Plus500 fined over 200,000 GBP by the FSA

FSA Penalty Details

Other websites of this company include www.plus500.co.il

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $100
Established: 2008
Address: Building 25 Matam, Haifa, 319160, Israel
Contact: support@plus500.com, +972 4-689-2154
Regional offices:
Regulators: ASIC #417727, CySEC #250/14, FSA-S #SD039, MAS #CMS100648-1, FSCA #47546, FCA #FRN 509909
Prohibited countries:
Trading platforms: Plus500
Web Trading: Yes
Mobile Trading: Yes
Currencies: (55+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (20+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities
Deposit Methods: VISA, MasterCard, Local Bank Transfers, PayPal, Skrill
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, PayPal, Skrill

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1.566 · 164 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

Manchester, United Kingdom,
Nov 19, 2018,
Registered user

Ongoing withdrawal delay

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
 
Hong Kong,
Nov 14, 2018,
Registered user

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
 
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.
 
dheenadhayalan,
india,
Jun 20, 2009,
Guest

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

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


demo account:

pros:

1.user friendly platform

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

cons:

1.no contact information (only fax no available)

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

3.ther is no information regarding registration

4.no live support

regards,
Dheenadhayalan


 
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!
 
Scoot,
Uk, United Kingdom,
Dec 4, 2018,
Guest

ID problem provisional license

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
 
Reply by Plus500 submitted Dec 6, 2018:
Hello Scoot,

Thank you for your comment.

You are most welcome to contact our customer support in the following link - http://www.plus500.com/Help/ContactUs.aspx
and I am sure they would gladly assist you with this matter

Regards,
Plus500
Malaysia,
Mar 31, 2017,
Registered user

Cumbersome validation process

Its odd they always want bills for validating our addresses. In ASEAN countries, people move around extensively and they live in rented premises. The bills addressed to the residence is always to the account of the premise owner. So how do we submit validation in these cases? Though the security is good, but to send a code by snail mail is the worst form of communication and reflects a total lack of confidence in technology. So sad, we will not sign-up.
 
Reply by Plus500 submitted Apr 6, 2017:
Hello Murugappan,

As per our legal and regulatory obligations, Plus500 is required to verify your identity and residential address, for which a photo ID and residence information and/or documentation may be required.
When you open an account with Plus500, you agree to comply with all applicable laws and regulations against money laundering and terrorism financing, including, but not limited to, the requirement to provide satisfactory evidence of your identity, residential address, source of funds, etc. Plus500 will not establish a business relationship with an individual unless and until the client’s identity and residential address have been successfully verified and/or all necessary documents have been received and verified. This is to protect both you and us from fraud as well as guard your privacy, and is therefore part of our standard due diligence process.

Be informed that you will be able to provide with an electricity/water/landline/mobile phone/energy/gas bill, a bank statement or a document issued by a governmental agency to verify your registered address.

Feel free to contact us for more assistance via chat or mail (http://www.plus500.com/Help/ContactUs.aspx)

Regards,
Plus500
naji,
cyprus,
Dec 6, 2009,
Guest

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

 
pieter vogel,
gent, Belgium,
Oct 15, 2015,
Guest

Issue escalated to Traders Court pieter vogel vs plus500.com | 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..
 
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
 

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).