Plus500 Trading Platform 4+

Can’t withdraw your money!!!

Hey guys I have been trading with plus500 for about a month now, but when I tried to withdraw my money twice now the first time problems with account verification and the second time after saying it takes about 1-3 working days on the site..well it has now been 12 days and no status changes as advertised and to no avail I still don’t have a cent in my account!!! I have sent numerous emails and every time same story your money will reflect in 1-3 business days and now I get a reply saying it’s been referred to the technical department?? For what reason...all I want is to be able to withdraw money and the service and feedback has been poor with no definitive answer as to where my money is or the reasons for not being able to withdraw! I would not recommend this app stay away...

Best Trading Platform Available

Been using Plus500 since 2017 and there’s a lot of things I like about it, including but not limited to:
- The instruments I trade are very reasonably costed, i.e NG is 3 pips.
- Intuitive and very user-friendly
- You can trade in ZAR (very few platforms do this)
- Instruments are very detailed
- Ease of chart customization

There’s few things I don't like though:
1. If you trade in ZAR, your equity moves with USD/ZAR fluctuations, this only started happening early 2020. Never happened before 2020
2. They change instrument minimum lots/contracts too often and if you have bulk orders waiting for a rate to get to a certain point and your order auto executes, then you’re screwed if your order executes before you notice changes to the instrument lots.
3. Platform doesn't cater for companies, only individuals can trade on Plus500.

My recommendation for the above:
1. Revert back to how it was done before 2020. Exchange rate fluctuations should NOT affect the equity, rather the open positions only.

2. Traders must be notified, either via push notice/email that the minimum contracts/lots have been changed, so that one can do the necessary changes to their trading strategy & tactics.

3. Consider allowing companies to open trading accounts. Verifications can include company’s registration documents, directors ID copies etc

Thanks.

Not bad !

Guys I have used this app for a month now ! Started with 3000 ZAR and managed to make a profit too . Yesterday I requested for a withdrawal and got my money within few hours . Honestly I had my doubts too but seems like this is legit . Only thing I hate is their verification requirements….too much things.

Developer Response ,

Thank you for your review! We are glad to hear you like our trading platform. As a regulated company, we are required by law to verify your details against the requested documents, however, thank you for your suggestion, we strive to provide the best possible trading experience to our clients!