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Honest review of the Plus500 broker - unauthorized actions of the scam
Plus500 is a global fintech group specializing in multi-asset trading platforms with its own technology base. The company offers a wide range of trading products, including contracts for difference (CFDs) and equity trading, and in the US, under the Plus500US brand, futures trading. In RuNet, the company is criticized for fraudulent actions; in particular, the project does not pay dividends promised to investors.
|Year of foundation
|Regulation and jurisdiction
United Kingdom, Israel, Estonia, Cyprus, Australia, Dubai, Seychelles
Address: 8 Angel Court, Copthall Avenue
- Long-term work experience
- Doesn't pay money
- Fake licenses
- FCA fine
Visa, Mastercard, PayPal, Wire Transfer
Forex, stocks, indices, cryptocurrencies, commodities, options, ETFs
|Margin call/Stop out
Depends on the tool
A group of companies is scamming through an offshore subsidiary, hiding behind a British license
|Competitions and bonuses
Help about broker Plus500
Sharaga was founded in 2008 and is a brand owned by Plus500UK Ltd, an Israeli project. The company specializes in trading CFDs on various assets, including foreign exchange, stock, commodity markets and cryptocurrencies. Its capitalization exceeds $1 billion.
The activity is regulated by several authorities. In the UK the company is regulated by the FCA. Plus500UK Ltd has two divisions:
- Plus500CY Ltd, operating in Europe under a CySEC license;
- Plus500 AU Pty Ltd providing services in Australia, New Zealand and South Africa under ASIC regulation.
However, scanned copies of the applied for licenses are not available on the site Plus500 official website only contains empty talk about profitable trading.
Sharaga announces the opening of regional offices in various countries, including:
- Great Britain;
Each division is regulated by the relevant local authorities. There is no documentary evidence for these words. Scammers want customers to simply believe them.
Availability and transparency of broker information is critical for investors. The lack of complete information on the official website of the counterparty or in open sources raises concerns among investors regarding the reliability and legality of the project’s activities. The company in question is ready to serve Russians without a license from the Central Bank of the Russian Federation, and this is a direct violation of the law.
Trading conditions of broker Plus500
Scam offers its own trading platform, which is designed to make trading convenient and efficient. The terminal is available in several formats:
- web interface: allows you to trade directly through your browser, without requiring downloading or installing additional software;
- Mobile Apps: The platform is available as apps for iOS and Android smartphones and tablets, enabling trading on the go.
Functionally, it is noticeably inferior to MetaTrader class terminals. Therefore, leading brokers do not use the platform Plus500 personal account There is simply no point in opening it here.
- a wide range of trading instruments, including CFDs on indices, currency pairs, commodities, cryptocurrencies, shares, options and ETFs. The total number of assets reaches several thousand and is updated periodically;
- specific information about the minimum deposit is not provided;
- floating spreads starting from 0.3% for all trading instruments. They may vary depending on market conditions and the specifics of the asset being traded;
- does not charge commissions for placing a deposit, opening and closing positions, as well as for transferring transactions. However, there is an account inactivity fee if there is no trading activity for three months. Commissions may also apply for guaranteed stop orders, which entail higher spreads;
- leverage up to 1:300, which allows traders to increase potential profits, but also increases risks;
- provides protection against negative balance, traders cannot lose more funds than is in their trading account.
The broker’s leverage is significantly higher than the requirements of reputable financial regulators. This is another confirmation of the falsification of the declared licenses Plus500 investment trading with this broker involves abnormal non-trading risks.
Exposing the Plus500 broker
In the context of the broker discussion Plus500, some aspects of its activities raise questions and are perceived by the target audience as potential signs of fraud or shortcomings of the company. One such aspect is the fine imposed by the British regulator FCA on Plus500UK Ltd. in 2012. The company was fined £200,000 for failing to publish its accounts for a year and a half. This incident raises questions about the company’s transparency and reliability, as regular financial reporting is a key element of trust in the financial industry.
Another point of concern is the lack of information on the Plus500 official website regarding important aspects of trading. For example, there is no data on the minimum deposit and transaction limits. Also, the broker does not disclose information about its liquidity providers, this is a clear lack of transparency in its trading operations.
There are various user reviews on the Internet, including complaints about Plus500 support. Difficulties with the support service and the ineffectiveness of the assistance provided by it are indicated. There are also references to margin manipulation and forced closing of orders.
The above-mentioned aspects raise certain concerns among potential clients and require careful consideration and additional verification before deciding to cooperate with Plus500 review the site only increased doubts about the legitimacy of the project.
Company Plus500 can be called a broker with a very big stretch. This is a forex kitchen that does not have real access to the interbank market. Sharaga is not interested in making money on spreads and commissions; scammers prefer to trade against their clients.
Reviews about Plus500
Users are generally distrustful of Plus500 reviews traders are devoted to problems with payments, incompetence of support, hidden commissions. They make it clear that the office will not allow clients to make money.
Anastasia expresses dissatisfaction with the broker’s refusal to provide services. This is an unusual practice for forex brokers, which raises questions about the company’s client selection criteria. Refusal of service without a clear explanation indicates a lack of transparency within the organization.
Second review from the same personAnastasia also mentions problems in communication with the broker. A statement that a company denies that a customer has registered indicates problems with the accounting system or the company’s reluctance to acknowledge certain interactions with traders.
Review by user yaya concerns technical aspects of trading, such as inflated spreads and an insufficient set of indicators. These issues have a negative impact on clients’ trading strategies and results, especially if spreads are volatile and differ significantly from market spreads.
- N. Lyubavskaya emphasizes problems with access to her personal account and the deterioration of trading conditions for CFDs on metals. The indication that the site is blocked for clients from Russia and the deterioration of trading conditions indicates technical and regulatory problems in the work of the counterparty.
Other reviews also mention problems with high spreads, lack of transparency in financial transactions and allegations of fraud. For example, mentions of unexpected commissions and accusations of scams indicate serious problems in the perception of the activity Plus500 clients.
Many clients face problems communicating with the company, technical difficulties and unexpected financial losses. These factors may indicate potential performance deficiencies Plus500.
The broker is not interested in transparent work. Plus500 – a cheap and anonymous kitchen created to scam newcomers out of money. Users who have lost money due to the company’s fault need to Write to us to start the chargeback procedure. This is the only way to get your savings back.
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