Plus500

Plus500 (page 2)

 Verified
1.4

130 reviews · Statistics

PositivevsNegative
8% · 11117 · 90%
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1.7 (95)
Rates and Fees
1.8 (35)
See the Best Forex & Share Trading Platforms in 2024 as rated by Australians on ProductReview.com.au.

Reviews

130 reviews
Ken S.
Ken S.
  Verified

Thieves

I used this programme and it is definitely not as advertised. They refused to give me my payout, when I complained, it fell on deaf ears. Do not use this, it’s like gambling.
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AmandainSurfers
AmandainSurfers21 posts
 
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Sam
Sam
 

Be safe

Actually, I use that couple of years but suddenly my account is not working and I contact customer services but they didn't even know how to fix that one and I lost my all money.
I complain to the company but I don't know, they just ignore me and I don't know what to do!!
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We are very sorry to see that you have issues with your account. I would like to ask you to contact our customer support team so that they can look into this. We will be glad to assist you further!

Alex. C
Alex. C
 
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peter
peterNSWSydney, NSW4 posts
 

highly manipulated

The true price and graphs will display as the true "live" price however once you take the trade the price somehow changes and you will find yourself in a trade with impossible odds, especially if short term trading, its highly manipulated. Any long term trades are stopped out if your in a significant profit, and stop losses will execute if it comes close to the target, regardless if it hits the stop loss price or not. Its too dodgy, more like gambling. I wont be using them again
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adrian m.
adrian m.VICGreater Melbourne (Inner), VIC
 

Very large fees that build up

They take a cut when you buy and sell but also charge ‘overnight fees’ which accumulate to very high amounts. I had $750 in fees from a $4000 buy of stock
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Innocent B.
Innocent B.
 

Dodgy company

Caught them closing out positions well before stop-losses were activated.
Some further research shows numerous consumer complaints and legal action being taken against them.
Don't use, they are dodgy as they come.
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Fair
Fair61 posts
 

Scammers

These are scammers, no real time trading, it's a gambling programs that makes you think you are trading, if you buy any shares through a legitimate broker you will get a certificate of ownership from the stock exchange or the share registery but with Scam 500 you get nothing because it's a gambling program, avoid these scammers, they will take every dollar you deposit into their account, read the reviews before you lose all your money.
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Nico
Nico
 

An Interface for theft

Fees are exorbitant & unreasonable. Pathetic support. The interface is dumbed down to cover up the ways in which they take your money. Do your research & go with a reputable platform that has a proper local footprint. This mob is just a pack of crooks.
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Yehya
YehyaNSWSydney, NSW5 posts
 

Scammmmm keep away before you regret

This company will rort u for all your money. They don’t base their stock by the real market but say different sources. Which sources the only one that will end your investment. Scammers trust me keeps away.
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stan
stanNSWSydney, NSW6 posts
 

beware scam

i was trying to withdraw my money, i was waiting for more than a week and then when i contacted them, keep tellin me to wait and wait and then having excuse that there was an issue on my account and its not their fault, sound like scam
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Willito
Willito
 

Disgraceful

Absolutely robbed me blind. Totally Immoral business model. Unecessarily complicated. Still had several hundred dollars in my account when they decided to close it. There are much better options out there.
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NASIR
NASIRVICGreater Melbourne (Inner), VIC4 posts
 

Unreliable costumer service

i did trading with IG, Etoro, Ic markets and then i did trading on Plus500 Platform, Platform byself is okay, But Customer service is too pathetic, Extremely unprofessional attitude, Not helpful at all. No contact number no trading manager for help. You will be in a dark room and they literally don't care. Made a deposit today and they restrict my account, and asked me some documents so i straightaway provided them but still account is restricted and apart from this they email me back that account is approved but still i am stuck... now at the end when i contact again what's happening, and got reply sorry documents didn't approved..

Req : 6385414

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We are sorry to see that you are not happy with our customer service. I've contacted you via mail and I will be happy to hear from you!

Dan K
Dan KQLDSouth East Queensland, QLD12 posts
  Verified

Do not trade with Plus500

I was not profitable sine 2013 and then once I started making money in 2020, they terminated me under a clause 22.7 of the user agreement that states that they can close me our and terminate me without any cause nor reason. Please do not open an account with Plus500. Stay away from CFD trading as they will terminate you once you are making money.
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We are sorry to see that you had a bad experience. We will be glad to look into this case for you. Please contact our customer support team so that they can provide you with further information.

Kurt A.
Kurt A.New South Wales
 

Intentionally manipulative to increase the percent of your money they claim

Borderline fraudulent and manipulative.
They take so much of your profit you can end up at a loss.
Next to no customer support and everything takes days to get any form of response which is often unusable
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Leslie M.
Leslie M.NSWSydney, NSW
 

The absolute worst trading platform on the Internet

Let’s just say I gave it more than one shot know where still a lot of money with these guys don’t make the same mistake, I’m actually more of a successful stock broker For my money to literally just go nowhere to 0 is a cop out because I know how to increase money I’ve never in my life lost all my money within a week I wasn’t making risky trades it’s just a dodgy app do you not trust plus 500
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JWW
JWW2 posts
 

Worst company by a long way!

Quickest way to lose your money. They have fixed term contracts that auto close without your control. Please avoid this terrible company, the worst I have experienced by far. Should be banned.
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Bill P.
Bill P.VICGreater Melbourne (Metropolitan), VIC
 
rocketbear54
rocketbear54VICNortheast, VIC8 posts
 

Scammy at the best

Was making small gains over the month. Account closed without notice. Was told I needed to verify account again. ( had already done so )
Not allowed to trade until done again. Stay away. There has to be a better option
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Bdws
Bdws
 

They closed my account without an explanation

Had multiple stocks all at a profit and rising. Get an email saying my account was being closed and that all my stocks would be sold whenever they please in the next 14 days in order to refund me before closing my account... apparently in their terms and conditions they can do this whenever they want and without reason. Don't trust these scumbags. Avoid at all costs.
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Raj
RajVICGreater Melbourne (Metropolitan), VIC4 posts
 
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Andy C.
Andy C.WAPerth, WA2 posts
  Verified

Do not use- read this info

I signed up to Plus500 thinking they were legit.
If you are depositing money with PayPal, then don’t!! Before I chose which account to use, I went back to the main menu and this company took out $2000 without my consent.
You think there cheaper stocks/cryto? Don’t be fooled! They RENT out the stocks/cryto to you. You do not own it! Another words, if you have a large amount, and this company goes down , you will loose everything. you’ve just lost thousands plus500.
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Raja R.
Raja R.VICGreater Melbourne (Inner), VIC
  Fair Incentive

Scam!!

Really don't go through reviews before I started trading. Terrible customer service experience ever. Lost my hard earned money for a silly reason, I lost my bank card so I requested to cash out to updated details and they block my account and won’t let me to cash out instead they say that I need to get a letter from bank that the card doesn’t work anymore. Many written proofs I have provided but they aren’t happy with it. One of the worst trading platform
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Chris
Chris
 

Scam

Definitely didn’t read reviews before opening account, but also only put in a small amount of money because I don’t trust anything these days. Please avoid them. There’s nothing but the same issues out there
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Sam
SamSydney14 posts
 

Stay away

Stay away - they have a Time limit on their crypto shares. You can never win.
If your up, they cash you out and you have to buy back in at the higher price. And if your down, you lose
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nishahuja
nishahujaNSWSydney, NSW4 posts
 

Stay Away from Plus500

I have used this waste of money trading platform since long now . Too many restrictions , force to buy more quantity . If You buy when market is down it will give stupid errors and not let you buy or place order. Feels like a scam
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HARBHAJAN  SINGH
HARBHAJAN SINGH2 posts
 
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We are very sorry to see your review. Plus500 is a fully regulated company as can be seen on our website. We will of course be happy to look into your account. Please contact our customer support so that we can assist you on this matter.

Ann I.
Ann I.VICGreater Melbourne (Outer), VIC4 posts
  Verified
HARIS M.
HARIS M.VICGreater Melbourne (Metropolitan), VIC
 

Stay away from these scammers

Based on my experience, had $2k in my account and suddenly received a notification that my position was closed because Plus500 policy of margin call. When I disputed with the agent that it says (in the policy) we do get notified so we can add some funds into the account and she said, its not guaranteed.
Anyways, I lost 2K with this scam company. Please stay away and try with your bank or other authentic organisations.
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jimi fidel c.
jimi fidel c.
 

If want to trade TRY OTHERS

I invested A 238 buying a market and i lost 600 which I should lose normally what I invested only. But they took my other assets without my permission from the platform. Also they don’t have transactions history in AUD only they have in market numbers. I had other platform but this is the worst don’t even try unless you’re ready to lose all your capital.
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Tim
TimVICGreater Melbourne (Outer), VIC
 

Worse and total scam

I will never ever use plus 500 again, every time i buy stock price fall and when account run out of fund price will start jumping up again, total scam
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Nathan C.
Nathan C.NSWSydney, NSW2 posts
 
Ali A.
Ali A.SAMetropolitan Adelaide, SA3 posts
 

Scammed AU$10,000 on Plus500

I got scammed $10,000 dollars by Plus500. I placed 4 long position on Natural Gas and it was 5.802 within 2 hours it drop 1.089 it was impossible for Natural Gas to drop that much. I Ended up with margin calls. And when I lost all the positions and money the Natural Gas suddenly it headed over 5.9! I was shocked. I then find out, they scam people by making you think you are dealing with real trade, but actually all those numbers on Plus500 are ALL fake!! And when you open a position on their side they drop the price or raise it.

Please stay away from them, they will scam you.

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max
max3 posts
 

Worst platform to "trade"

Incredibly high charges I said "trade" in quotes because this is not a trading platform this is betting platform, this is like gambling, however in a casino you have more chances. Incredible high charges, this is 50 ticks in the right direction to start making profit.

Avoid this crap, I have got nothing else to say.

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Walter
WalterQLDSouth East Queensland, QLD35 posts
 

Scammers just wont go away

These scammers just wont leave me alone.
I get endless emails and text messages from them despite having unsubscribed from them 6 months ago.
They do not respond to emails and good luck trying to ring them.....you cant....they're number doesn't exist.
Unsubscribe me as I'll never deal with you again.
To all reading this review, steer clear of Plus500 - they are scammers that will steal your money.
Don't take my word for at....simply look at all the negative reviews.
Walter
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jacku01
jacku01QLDSouth East Queensland, QLD12 posts
 

I think you’re right

I purchased Ripple crypto @ $1.20 odd per unit , incidentally I think crypto is a scam in it self!
With in a week or so it was at $0.80c roughly, I cashed it in.
It dropped to a about 25c, today within about 24 hrs its at 49c, don’t buy crypto currency, it’s a machine to steel money from people trying to have a go, and the rich are cashing in.
Just remember, every person that makes money from crypto many people lose.
Put your money on a horse, the odds are the same.
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Coco
Coco3 posts
 

Perfect scam

They do not have a platform, they only steal money, no real trading, you will never make money, only loss, try it to see for yourself, it's a scam, avoid.
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Cosmic
Cosmic45 posts
 

Perfect scam

This is a total scam, they make you feel you are trading, then you end up losing all your money, specially when you deposit more money, avoid these scammers, I don't know how they got registered this business may be as a gambling casino, because you will lose all your money, avoid avoid avoid.
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Ghumman
Ghumman
 

Worse platform

Worse platform, extremely high charges, overnight hidden charges, false claims and very poor customer service. If they believe they can’t make money out of you they will stop you from taking new positions.
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James
JamesQLDSouth East Queensland, QLD
 

Bonus dollars and Trader points

Unbelievable! They offer a shady 120 dollar bonus when you deposit 400 dollars. But.....It will be added to your account once you reach 75 Trader points. To get 75 Trader points you need to open and risk a 1500 dollar position! Basically they lie to your face saying that if you deposit 400 dollars you will get a bonus of 120 dollars but ACTUALLY to receive the bonus you have to deposit more money and risk your money on opening positions worth 1500 dollars. Note that the Treader points are different on every stock - the Trader point table can be found here: https://www.plus500.com/Promotions/Bonus# .....I would like to also mention that they have hidden parasite fees like inactivity fee, holding fee etc.
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