Plus500 – Is it scam or safe?

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Plus500 – Is it scam or safe?

Plus500 is a trademark of the Israeli broker Plus500. The company operates through its subsidiaries Plus 500CY that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and Plus500UK Ltd that is licensed and regulated by the Financial Conduct Authority (FCA). Licenses allow it to offer financial services, including forex.

However, the Financial Services Authority (FSA), now FCA, fined Plus500UK Limited more than GBP200,000 for failing to provide accurate and timely customers transaction reports. In 2015, the company’s shares fell nearly 60% after FCA’s order to freeze 55% of Plus500UK traders accounts. The measure was linked to the review of anti-money-laundering measures.

So far, we haven’t received any complaints from clients of Plus500.

If you feel frustrated by Plus500 and have something to share with us, please fill in the form below, describing your case:

7 Complains

  1. This is a broker with good reputation but with terrible trading conditions. They offer bonuses, which leads to the thought that this is a market maker. If you do not want to be cheated and all your deals to stay inside this broker, then plus500 is not the right choice. Better go to some real ECN broker.

  2. Plus500 are scammers. They stole 10k pounds from me. They didn’t allow me to close my positions when I wanted. Also they manipulate the margin scale. And if you put a big amount of money, they close your position before that. Stay away!

  3. this is 100% a scam company! Until you lose everything is OK. I made a stable profit for two months and my documents were verified. I had losing trades as well. What they do is not to allow you to deposit additional funds when you are on margin call. I tried to get some explanation but their customer support is terrible. They treated me like I did something wrong. I asked my questions vie email but waited for answers for weeks. They couldn’t help me. When I was losing money, they were polite but then they became useless. Do not deal with these scammers!

  4. This is the worst broker who can exist! Stay away from Plus500! They close positions before market reaches your stop loss order. They close potential profitable positions before they have become winning ones. The platform is terrible and their support is completely useless. Every problem I had was never solved. I would like to warn all traders to stay away and do not follow my mistake.

  5. Stay away from these scammers! Their prices are different from the real ones. They do this to make you lose money. There is no human support, just chat bots. This should be enough. And you will wait long time before you get your money back!

  6. Plus500 is cryptomanipulator! They manipulate prices for their benefit. There are big price changes and then lack of quotes. Their prices move up and down with more than USD100 compare to the prime index. I think this is done on purpose to force customers lose money. Do not trade crypto currencies with them!

  7. I would not recommend plus500 for active traders. When the volatility increases you are constantly requoted and most probably you will miss the opportunity to enter the market. It happened 8-9 times for less than 5 minutes! Their explanation was the price changed every time between executing the orders. You’d better use an MT4 broker. Plus, they execute orders with huge delay…

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