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1.2 49 Reviews

Plus500 Complaints Summary

2 Resolved
47 Unresolved
Our verdict: If considering services from Plus500 with a critical resolution rate, extra caution is advised. Examine detailed customer feedback to understand the severity and nature of unresolved issues. Be prepared for the possibility of unsatisfactory responses and have contingency plans, including seeking assistance from consumer advocacy groups if necessary.
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12:21 pm EDT
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The complaint has been investigated and resolved to the customer’s satisfaction.

Plus500 document verification trouble and no deposit refund.

Recently i started trading in Plus. 500 and deposited money without verifying my profile. I have submitted all the documents they asked for which was my work address. Ultimately they asked my residential address as well. I lost AED 1000. When I had asked for a refund they never reply. This is Plus 500 People. they temp you with their bonuses.

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Resolved

I had coordinated with the plus 500. I have submitted all the documents they had asked for and explained them that I do not have a permanent residential address in UAE. So I had to sunburnt my bank statement with work address and my passport with home country address. After a tiring replies of mails. They finally approved my documents.

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Reviewer96869
,
Aug 20, 2015 10:34 am EDT

I put 100 to trade and I ask to withdraw no answer and ignore I send all my id to return money but no answer any away this company should close or they be in trouble.

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1:04 am EDT
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Plus500 - margin policy - scam!

I've vast experience in trading cfd and fx and i'm using plus500 for short term trades (Due to the abnormal expensive daily swaps) On march 12 I had balance of eur 9014 in my account and i've asked a withdraw of eur 7, 600- the amount deducted from my account. I left with a balance of eur 1, 414 and on march 13 i've opened 3 short position on dax (100...

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2:02 pm EDT
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Plus500 instrument expiry

I made the fatal mistale of opening an account with plus500 last thursday night (12/03/15) after a friend of mine earned a few quid though it few days back. I bought some oil for approx £400 and on friday (13/03/15) price fell for oil. They kept sending me text alerts and emails at work saying it was going to be a margin call and I had to insert more money to keep in open etc. Pressured at work and worried that I will lose whatever I put in I started paying them and ended up putting a total of £3300. I know I know.
Trading somehow closed on friday and I was doing ok pretty confident that the prices will rise eventually. I log in sunday night when trading opened and it says my instrument has expired on saturday (14/03/15). I sent them an email and they replied saying "instruments that are a contract based on a future have an expiry date, which is a fixed date, hence not dependent on the position's opening date" and mine was the saturday and they closed it.
Had I known if it expires the next day I wouldnt have put more money into it.
Never once whilst they were alerting me to put money into it they said that it was expiring the next day. I am completely distraught over this. I have replied asking them to help me. I plan to take it to the fca and ombudsman if they dont.
Please let me know if anyone had to complain about them before and what came of it. If anyone is in the process of doing then I would be interested to join in as well. Thanks

Read full review of Plus500 and 2 comments
Update by ajthompson
Feb 22, 2016 9:16 am EST

Hi Anna

Sorry to hear about your loss. This is exactly what happened with me. I did not take it up with the FCA or Ombudsman as i couldnt bear going through the process and could not find anyone who had any knowledge about it to help. Frankly i just wanted to forget about it and move on.
I spoke to my bank (fraud wing) who said nothing could be done as i had authorized the payment. They are completely deceiving and getting away with it. This expiry thing is in their terms and conditions but still not an excuse to rip people off. Let me know if you are taking it any further - i was hoping to speak to an investigative journalist or someone similar. I suspect i might not be able to do anything since its nearly a year on now. Good luck !

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Armo Trader
, NL
Feb 12, 2017 6:51 am EST

I see so many people talking about failures what you literaly can blame to them self. Like the guy above saying that he got a email asking him to deposit for his margin call. And then he deposited it and the next day his contract expired so hi lost it. Wel in just that small sentence of you i can see you dont even look what you are buying as if you would know what you bought you defintily would have a look at the instrument rules. You probably dont even know when your instrument openings times are. I read so many stupid people calling i wil go to fca cuz this and that happend. I read the hole 6 pages and i wil tell you the truth. There is not one argument on this 6 pages what makes me belive that plus500 is scamming people. The reason i dont belive is cuz i m doing this since a long time and i know my own mistakes what was made back those days. I probably can tell that al the people here talking about scam didnt ever put a buy order or short order in the times when the markets are open short or buy above or down the High and the low of the day. You al keep clicking and buying at the price you see the broker gives you in a range of day. Try to make your orders not in the range of what plus500 gives you as opportuinty to click fast and buy. I hope some newbies can learn a lesson if the even understand what i mean with my low ### englisch. I m Dutch citizen bye the way born in Armenian. I m not a employe of plus500 and also dont get money from them for saying the are indeed a good broker for daytrading. And one more think what really makes the people stupid. If the price would change on the platform just to try and hit your margin call or what so ever it means the wil have to take in considuration that there is alwys one extra persoon who meaybe wil take the opportuinity to buy or go short while the wil move the price down or up to hit your margin or stop loss. This means the would try to steal from soemone but give someone else the opportunity to get inside the market with a beter Price. If you realy think after this that the manipulate the price bye single target attacks so only you see the price difference and no other users at the moment yousing plus500. I would say to you. Check investing.com the price there wil alwys show the correct price of plus500. Everone can buy or sell the market buy just pressing a simple button, doesnt matther if you have to press 1 or 2 times ever child kan do it. Ask your self( do i understand what it means to manage money account) i know for sure that if you say i didnt read that there was a expiry date on my instrument. Then i know what people are here on this website complaining about there own stupid mistakes. in a hope the wil get there money back.

Voor de Nederlanders hier. alenkhcheian@gmail.com alleen als je serieus bent om het te leren. Geen kosten aan verbonden. Mensen die nu gelijk denken dat ik mijn manier van traden ga voorkauwen zijn bij verkeerde adres. Ik wil je alleen maar op je fouten wijzen zodat je niet beland bij de kudde van 83% die zeikt en regelmatig verlies draait.

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anna69
, US
Feb 18, 2016 5:08 am EST

Hello
I also traded in oil in February and the price fell significantly. They keep sending margin call. I had to put more and more money so as to keep my position open and not to lose my money.
But in the end I lost £9000 and they close my position. I think they are fraud and I made a mistake in putting so much money?

Did u report to FCA and Ombudsman? Did u manage to get back your money ?
Grateful for an answer please.
Thanks

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12:55 pm EST
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Plus500 - withdrawal of funds

I am trying to withdraw funds from my trading account but plus500 are not processing it by saying they are really busy due to workload. Below is an email from them. They say normally they process payments within 3 working days but its been 10 working days. I have asked them to tell me how I can escalate this complaint and what their complaint procedure i...

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2:24 am EST

Plus500 scam

I hope some one can help me plus 500 took 3, 000 euros from me
And I traded Oil, and gold on line with this company and the prices were different
From Bloomberg news I new there done thing wrong with there prices so i try to stop and sell and the software froze and did not alow me to get out of this trade and finally when the software responded I had Lost 2, 200 euros and I asked for my blance back from this company and it has been over 1 month I have sending them e mails and still noting there are asking me to provide more personal information and provided them with my passport phone bill my drivers license and phone bill and still they are not responding to my e mails, can some help ?

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Elbonias
, Schotland
Jul 21, 2015 2:57 am EDT

I traded with Pus500 since 2009. I did very badly and was losing most trades until maybe 2010 when things started improving. It was very difficult because the majority of trades ALWAYS went bad; but i persisted because i wanted my money back! In 2013 i was almost breaking even and starting to make money. At one point in July 2013 i actually made about $5000 profit in one month (trading shares). Then i bought a penny stock, valued at $1.20 Evolution Mining. The company was listed on the ASX and had reasonable financials, and was supposedly worth $200 million. Pus500 listed it in their 'Risers and Fallers' listing in the platform. I had such difficulty making profit with the currency trades (vast majority of trades ended in loss, even when they were clearly going into profit they would suddenly reverse) that i thought shares might be the way to go. Unfortunately, the Evil ution Mining company (currently still listed on ASX in fact it apparently just bought another gold mining outfit in Australia for $550 million. You would think this company has MONEY, right?) continued to fall in price. I bought in a bit more each month, convinced the company would be OK, until i had spent $14, 000 and the price had dropped 75% to less than 0.55 cents (from the original price of $1.40 or higher). This happened within a month. Because i was concerned they would take the price further down, i could not deposit more and Pus500 stopped me out, costing me $14, 000. This single trade has bankrupted me and i hold Pus500 directly responsible. As i live in Singapore, i want them banned from soliciting, advertising, or doing any business WHATSOEVER in Singapore. This should be fairly easy to accomplish with a good case presented to the Monetary Authority of Singapore. Since this disaster, the pump and dump company 'Evolution Mining' has now magically recovered to $1.50, and it actually almost recovered to the price i bought in at, within just a single month in 2013. From my experience, this is a clear sign (i have about ten years experience trading shares and specifically, mining tickers) that EVN.AX was paid or reimbursed, or staff at Pus500 were paid or reimbursed, for the pump and dump operation. Others who have lost large sums of money on mining tickers and other share issues, as they traded through Plus500, should please post on this board and we can get Pus500 eviscerated permanently, and Plus500 principals and assigns and heirs banned forever from providing trading services anywhere and everywhere.

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11:47 pm EST

Plus500 closed position

Hi please help me I have negative amount in my closed position in plus500 what does it mean, does it mean that I lost all my deposit money or the amount means debt that I have to pay. I really don't know what to do, i'm a student and I join plus500 and start trading just a few days ago and in my closed positions it shows that I have -$12000 in my closed position I really don't know what to do. If this is just the money I have loss and not the debt I really want to quit plus500 and withdraw the rest of my money. Please help me I sent an email to them but they still haven't reply back to me.

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One47break
, AU
Sep 21, 2015 6:19 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Yes they are a huge scam however there are ways to get your money back. Whilst you are still able to log in to your account it is time to gather evidence on their fraudulent practices. Record the difference between the buy and sell pages. You are sure to find discrepancies with how your account is currently running. Once you have solid evidence on how the trading platform works against you then you have a case to get your refunds.
I personally have had my whole trading deposits returned to me. 7 transactions totalling $7500 has been refunded today to my credit card account.
Never do a bank wire ! Only pay with credit cards so you can recoup your money's.

Contact me at pbox931@hotmail.com and I will show you the steps needed to get ALL your deposits back.

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Ad14
, MY
Feb 16, 2015 2:05 am EST
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hey what did you do then..

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hamka
, MY
Jan 15, 2015 7:16 pm EST

your problems is same like me...they not reply e-mail anymore...

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4:25 am EST
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Plus500 - withdraw never paid out

After withdraw money from my account (3500 €) they never paid us my money to the paypal account. After I mailed this problem they send our transaction on cancel... So now after sending emails we don’t get response or proof they send me my money. My withdraw suddenly do not exist and we got a strange email saying that the send it back to failed transaction...

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3:31 pm EST
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Plus500 information

Some info about the fraudulent entity commonly known as plus500
Plus500 ltd., is an israeli company listed on the lse, not fca regulated at all and therefore not licensed to offer financial services, any link provided by them referring to plus500.com is not leading to this company but rather to the owner of the domain which are dror sordo and
Plus500uk ltd. Which is licensed by the fca, but this entity has it's own web domain under plus500.co. Uk
Investors outside the uk, when clicking on www.plus500.com are automatically redirected to
The cyprus entity plus500cy. Ltd, which is licensed by the useless cysec, and has apparently no web domain known. The domain is owned by plus500uk ltd.
The australian plus500 pty. Ltd. Is licensed by asic, has it's own domain as plus500.com. Au. This domain is not owned by plus500 but rather by the brain behind this whole scam, dror sordo and an unknown company by the name of iadpas pty ltd.
Dror sordo, mastermind behind all this from the word go, resigned as a director of plus500uk ltd.in october of 2013 and supposedly has no connection to plus500 anymore - until he reappears in australia where he seems to have no connection at all to iadpas
This is a scam and fraud setup of the first order. I am collecting evidence and maybe a joint action is helping everyone here.
A class action suit appears to be in order and if I can assist, let me know. I do have already plenty of evidence about the fraudulent setup, need more and if possible in detail.

Read full review of Plus500 and 3 comments
Update by Gioa
Feb 01, 2016 8:44 am EST

I've said it all along:
PLUS500 is a scam and a criminal organisation since day one.

I am still pzzled that there are again and again hundreds of people who are falling for this fraud

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mahmudour
, US
Jan 31, 2016 12:59 pm EST
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On 29th january 2016, at morning 7.00 am they closed all my buy position of germany 30 (21 buy position ) with previous night closing price at 9662.
Where as germany 30 started with 9789
So I lost almost 3000 euro.
I have screen shots as a proof.
I will charge back from my bank

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Ibwt
, GB
Nov 23, 2015 2:33 am EST
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Hi, I am collecting evidence as well, I have managed to take some screen shots of bogus market movement on the platform that didn't happen in real and screenshots of how my positions were closed at the different limit level that I set. Let's exchange evidence, I am preparing for charge back and fraud complain.

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jason j.
leigh on sea, GB
May 12, 2015 6:58 am EDT
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i have 3 grand in my account, and anther 3 grand in the green.
i tried to short to day but got meassage asking me to submit my driving linnce, and outher docs, that i have all ready sent them.
i have been trading with real money for 3 weeks now. im left with open postions, and no controll of my account.
what can i do?
im gett no responce from them.
jason UK.

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2:22 am EDT
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Plus500 fraud-money stolen

Warning:plus500 is fraud!

Plus500 site is a big fraud, a total scam.
Never put any own money in it.
You never ever will see your money again.
Only thing, you can do on their site,
Is checking some trading prices (at least in currencies eur/usd seems be up to date).

The "demo" and "with own money" options are identical and both
Only for show.
Behind that program isn't anything "real" happening, no real transactions.

They only collect your money and make you to imagine, that you are trading real trades. You are not!

As said, they are only after your deposits!

On many sites, wich contain plus500-fraud complains, one or several plus500-fraudsters themselves are trying to eliminate accuses about scam, saying
"plus500 is not a scam; I have been trading half a year; I have collected $10000 in two months" etc.

But I have definitely lost €100,
I wouldn't write here only to accuse a site, which I don't know even the address!

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Beatrice Beatah
, US
Oct 13, 2022 7:32 am EDT

Amazing personality with strong leadership skills, I had faith that success will come. I initially put in $1000, and after a few days, I received $12,500. To get in touch with mr ALEX, click on he's WhatsApp. His credibility cannot be questioned. Contact him at the following WhatsApp number.

WhatsApp: +[protected]

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Dr Hassan Zaghloul
, US
Dec 25, 2021 3:14 am EST

Has anyone tried to deposit money and had plus500 not accepting the deposit? If so please email me on sxoxs@icloud.com

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Raj Kumar Fylling
Kløfta, NO
Mar 14, 2021 8:34 am EDT
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I sold my shares for 995 dollers but mony was not added in my account. I contacted support but nothing happens. Is there any officialy site we can send complaint ? I tried this complaintboard but no answer.

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adiwira adinda
, US
Apr 18, 2020 11:47 pm EDT

13 April 2020 I took the sell position of EUT/JPY €108, 650 .. Stop loss €119, 300 .. But my position suddenly stopped while it was falling .. What happened?

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3641
, US
Mar 09, 2020 8:18 am EDT

JOIN THE CLASS ACTION BY STANDING TOGETHER TO HAVE OUR CASES LOOKED AT TO OPEN A CLASS ACTION FOR AUSTRALIANS...
READ IN FULL AS MY EMAIL IS PROVIDED BELOW.

This is my real story with a real plus 500 trading account.
Be warned this is just one example i am writing of how money is wiped out of my account when following the plus 500 platforms "rules"
I placed a trade on plus 500 for around $200 with a stop loss just under $50. $452.19
Once i placed the trade, the site immediately froze me from seeing and adjusting my trade. I was given no way to access or watch the trade progress.
I begged to speak with a supervisor for help from the chat service and was denied and told to wait for an email from them. I had to sit and watch the site to wait for until the trade ws has unfrozen only to find out they wiped out my account of the amount $452.19 disregarding there own stop-loss inputs to give me security.
I had no access to it, i was blocked by the site so y trade went into an unknown area where only they decide what time it is unfrozen.
Is this legal?
Their site has many other ways of wiping out your account going against the stop losses it allows you to put in.
This company will fool you into thinking you can trust the "upfront platform" you are using but it does have many hidden tricks it uses to wipe out hundreds of millions of dollars from its customer's accounts.
Chat staff has told me since these issues have arisen that i can not trust the platform they provide to me and they take no responsibility for their platform they provide to its customers.
CLASS ACTION LAWSUIT NEEDS 7 PEOPLE TO JOIN TOGETHER AND OPEN A CASE IF SUCH EVIDENCE CAN SHOW WRONGDOING WITHOUT REASON FROM THIS COMPANY.
I have chosen SLATER & GORDON to look into this case NO WIN NO FEE if i can provide them with at least 7 other cases of Australians in this same predicament who wish to join the fight to re-coupe + compensation on such matters.
EMAIL ME 34612019r@gmail.com

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GEORGE_1
, US
Aug 30, 2019 3:31 am EDT

Few months ago, I invested about $36, 000 into this binary option platform with the aim of diversifying my trading portfolio. However, with my strict habits of growing my account 300% before taking profits, I never attempted any withdrawals, not until two months ago when I tried to withdraw but all effort was in vain. I called the account manager and explained the situation, he told me i  would be able to withdraw after 4 working days which sounded shady to be very honest.  4days went by, still no withdrawals, I tried reaching out to the manager and customer service line but non of them were reachable till this moment.

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chikel
Jerusalem, IL
Nov 01, 2021 11:19 am EDT
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Replying to comment of

Amanda hello.I also hired perfect wallet recovery but still not get from him my profit.Can you contact me please to my email : arielms@012.net.il .Thank you.Ariel.I need your advice.

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brian_mcson@yahoo.com
, US
May 15, 2019 9:06 am EDT

Things have been really tough for me, investing and losing money trading binary options. Until I came across a recovery agent. Who successfully had my money recovered in no time. You can recover your funds also. You can reach me via email

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Robbert1966
, BR
Sep 01, 2018 6:05 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Goodmornimng.
Sins this morning is it imposible for me to open tho plus 500 app.
Thay keep telling me that er is a problem with my intenet conexion.
Bud thats not tru everithing is working correctly.

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juan585858
, ZA
Sep 02, 2018 3:49 am EDT
Verified customer This comment was posted by a verified customer. Learn more

I saemd my Id and FICA dopcument to update my profile in order to start trading. I only get automated mails when I query progress of verification. Surely it cant take 24 hours to verify two documents

Juan
juan.tomlinson@standardbank.co.za

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Gaua
, US
Sep 02, 2018 4:32 am EDT

Hi Team,

Call option on UK100 7500 is blocked for trade since morning dated on 27th December. Can you please fix as soon as possible ?

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