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Scam Brokers Reviews

Taking risks with your investments is never a wise decision.

Website:

Email:

Telephone:

No phone support

Company Address:

169-171 Arch. Makarios III Avenue, Cedars Oasis Tower, Floor 1, 3027, Limassol, Cyprus

⚠️ SCAM 👀

➡️ Plus500’s ratings are expected to be quite captivating

Withholding Profits & Withdrawal Delays

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Transparency

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Withdrawal Options & Terms

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Large Withdrawal Challenges

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Trust in Services

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Support Department Response Time

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Fees & Charges Fairness

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Investments involve risks and are not suitable for all investors.


🚫 Before You Trade at Plus500, Read Our Full Review 🚫

On 24 July 2013, Plus500 shares were listed for trading on the London Stock Exchange.

MAY 2015 – Plus500 shares fell 36% after client accounts were suspended.

FEBRUARY 2016 – London-based wealth management firm Odey Asset Management increased its stake in Plus500 Ltd to 25%.

JUNE 2023 – Plus500 Ltd announced that it has repurchased shares worth GBP 101.3 million from Odey Asset Management LLP.

Today’s Top Holders:
Schroder Investment Management Ltd (as of 10 Mar 2021)
Invesco Asset Management Ltd (as of 06 Mar 2020)
Acadian Asset Management LLC (as of 29 Mar 2019).

➡️ Did you know that brokers earn money by charging traders an overnight funding fee based on the interest rate differentials between the currencies or assets being traded? This fee helps to contribute to the overall income of brokers. Providing leveraged trading services involves certain risks for brokers. However, by charging overnight funding costs, brokers can mitigate some of these risks that arise when traders hold positions for extended periods, especially during volatile market conditions.

➦ Have you ever wondered about the overnight funding costs charged by Plus500? Check out here!

Discover the truth about Plus500 – is it a trustworthy platform or a scam?

This fintech giant claims to offer cutting-edge technology-based trading platforms and a diverse range of trading products, including Contracts for Differences. Plus500 is a publicly listed company on the London Stock Exchange and is included in the FTSE 250 index. The company is also regulated by leading authorities such as the UK FCA (FRN 509909) and CySEC of Cyprus (CySEC Licence No. 250/14), which may provide some assurance for traders. Additionally, Plus500 claims to prioritize the safety of its clients’ funds by keeping them in segregated trust accounts.

➦ Are you under the impression that Plus500 has scammed you?

➡️If traders suspect wrongdoing or manipulation, it is advisable to report the issue to the relevant regulatory authorities.

➡️Traders might accuse a fintech giant of engaging in unfair or manipulative practices, such as price manipulation, hidden fees, or biased algorithms that disadvantage users.

Exploring the Pros and Cons of Plus500

Pros:

Cons:

✅ Listed in London Stock Exchange

❌ Inactivity Fee

✅ Free Real-time quotes

❌ Plus500’s educational content on financial markets could benefit from further expansion to cater to a wider audience.

✅ Over 2800 Instruments

❌The trading options may be limited as no MT4/MT5 trading platforms are available

➦ Plus500 is a platform that operates under the regulation of several Tier-1 jurisdictions, while also having the backing of Tier-2 and Tier-4 regulatory bodies. 

⚠️ One might wonder if adhering to multiple regulatory authorities increases operational complexity, which could potentially entail higher costs for users.

➦ Does Plus500’s platform offerings meet all of your needs?

 Plus500 trading platform
Image source: Plus500 Trading Platform

The Plus500 Platform asserts that it has a thriving global community of more than 24 million traders. They claim to provide access to over 2800 trading instruments and offer opportunities for traders to expand their portfolios. Additionally, the platform states that it provides easily accessible and convenient trading through its Web-Trader, iPhone/iPad, Android app, and Windows app. However, it is unclear how safe and secure these platforms are for trading. 

Unfortunately, the trading options are quite limited since no MT4/MT5 trading platforms are available.

Is it really possible to open up a world of limitless trading opportunities with Plus500?

Once a trading account is set up, the promise is that users will be able to access over 2800 instruments, providing a world of possibilities to explore. It is also claimed that users can choose from 40+ forex pairs, including popular ones like EUR/USD, EUR/GBP, GBP/USD, and AUD/USD. Additionally, there is an ever-growing selection of popular commodity CFDs, such as Meta, Apple, and Microsoft, making it easy to find what one is looking for.

➡️ Explore over 40 exciting currency pairs, trade share CFDs with leverage up to 1:20, access a variety of popular commodity CFDs like Gold and Oil, and elevate your trading experience with the most sought-after indices, including USA 500, US-TECH 100, and France 40, all on Plus500.

⚠️ How reliable are the claims about the forex pairs and their performance? 

➡️ It’s always important to approach such information with a critical eye and do our own research before making any investment decisions.

Does the type of trading account they offer match your trading style?

If you’re considering the Professional account with Plus500, it’s important to note that this option offers traders the ability to attain leverage as high as 1:300, a significant increase from what’s available with the standard account. 

However, it’s essential to keep in mind that eligibility for a Professional account hinges on meeting specific criteria, including trading activity, portfolio value, and relevant experience within the financial services industry. Having said that, Plus500 asserts to offer its clients a premium service, providing a range of educational and support materials to enhance the trading experience.

➦ Traders who possess distinct preferences or trading styles that do not align with the available account types may feel limited by the current options.
Plus500 Premium Service
Image source: Plus500 Premium Service

Plus500’s Extensive Regulatory Footprint

Plus500 enjoys a global presence that spans over a decade, with its headquarters located in Israel. The company is proud to be regulated by some of the most reputable authorities in the industry, including the UK FCA (FRN 509909) and CySEC of Cyprus (CySEC Licence No. 250/14). In addition, Plus500 holds multiple licenses and authorizations across the globe, such as AFSL #417727 issued by ASIC, FSP No. 486026 issued by the FMA in New Zealand, and Authorised Financial Services Provider #47546 issued by the FSCA in South Africa. 

Moreover, Plus500SG Pte Ltd is licensed by the Monetary Authority of Singapore for dealing in capital markets products, while Plus500IL Ltd is registered in Israel and holds a trading platform license. Plus500SEY Ltd and Plus500EE AS are authorized and regulated by the Seychelles Financial Services Authority and Estonian Financial Supervision and Resolution Plus500AE Ltd is also authorised and regulated by the Dubai Financial Services Authority.

➡️ Did you know that in the financial industry, there are instances where certain brokers may seek to leverage differences in regulatory frameworks across different jurisdictions. This practice, known as regulatory arbitrage, involves taking advantage of variations in regulatory requirements to reduce oversight and compliance expenses.

Payment Options to Match Your Trading Demands Worldwide!

deposit methods offered by Plus500
Image source: Plus500 Payment Methods

Does the type of trading account they offer match your trading style?

Effective support is crucial in trading, and at Plus500, they offer various channels such as email, live chat or WhatsApp in your preferred language to provide assistance.

➡️ It’s important to note that phone call availability may be limited, potentially causing inconvenience.

Plus500 help portal
Image source: Plus500 Contact Page

Is Plus500 a trustworthy broker?

We have thoroughly investigated Plus500, a broker platform, and its reliability. Although it falls under strict regulatory guidelines, several negative reviews are online. However, we cannot dismiss the possibility of fake reviews, which complicates matters. As a result, we advise you to be cautious if considering any engagement with the platform. Your comments below can help clarify further the trustworthiness of Plus500.


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