In this article, we will go over the question of whether plus500 is a scam or a legit broker? Is their platform rigged, or is it a trustworthy trading platform?
We did our research to find whether or not Plus500 is a scam.
Millions of users trust Plus500 as their online broker. Here is what makes Plus500 a trustworthy broker and not a scam:
- Great track record of positive reviews
- Plus500 Ltd is listed on London Stock Exchange
- Established in 2008
- Regulated by top-tier authorities
- Sponsoring top sports teams
- Worldwide presence
- Trusted by millions of traders
While conducting research, we found a lot of positive reviews as well as negative ones. The negative reviews are from people who lost their money, but not because Plus500 is rigged. Trading is risky, and most retail clients lose money. That is their fault and not the fault of the trading platform or Plus500 Leverage Trading.
You should always invest money you can afford to lose. When you trade, you can lose your whole deposit. It is not a game or gambling.
Is Plus500 a legit Company?
Plus500 is not a scam, as it has been around since 2008 and meets the regulatory requirements of top-tier authorities around the world. Plus500 is a legit company with offices worldwide and has been operating since 2008. Many top-tier authorities regulate Plus500. They operate through many subsidiaries around the world.
These Subsidiaries include:
- Plus500UK Ltd
- Plus500CY Ltd
- Plus500AU Pty Ltd
- Plus500SG Pte Ltd
- Plus500IL Ltd
- Plus500SEY Ltd
They are regulated by:
- Financial Conduct Authority (FRN 509909)
- Cyprus Securities and Exchange Commission (CySEC Licence No. 250/14)
- AFSL #417727 issued by the Australian Securities and Investments Commission (ASIC)
- FSP No. 486026 issued by the FMA in New Zealand
- Authorised Financial Services Provider #47546 issued by the FSCA in South Africa
- Monetary Authority of Singapore (License No. CMS100648-1)
- Seychelles Financial Services Authority (Licence No. SD039)
Claims of Withdrawal Problems with Plus500
Some people claim that Plus500 hasn't paid them. This is something we found when searching online for Plus500 scams. It turns out that these people were not compliant with terms&conditions of the broker. The most common abuse was by creating multiple accounts or not providing real data. In these cases, Plus500 terminated their accounts.
Claims that Plus500 is Rigged
We also found claims that Plus500 is rigged. Plus500 is not rigged. Again, these claims were from clients that didn't take it seriously and thought trading is a game. Trading comes with risks, and you should be aware of that before trading. Trading CFDs is the same as trading stocks and come with inherent risk.
The client's funds are handled following payment protocols. Funds are kept in a segregated account. Your money is segregated with them, and the company doesn't invest it or do anything shady with it.
You can always try out the platform with a completely free demo account. This way you can see how the platform works and really learn how to use it, before investing any money.
How do they make money?
One concern that people have is the fact that Plus500 has zero or no commissions and offer a lot of their services for free. How do they make their money then? Plus500 makes money through spreads (difference between bid and ask price).
Plus500 is not a scam and is a legitimate company established in 2008. They are regulated by top-tier authorities worldwide including ASIC, FCS, MAS, CySEC, and FSCA among others. Plus500 is excellent for intermediate to experienced traders, looking for a robust, trustworthy, and legit CFD broker. Their wide range of investment options should suffice most traders.