Is Plus500 a scam or legit broker? Read Plus500 Review
Plus500 is an offshore or unreliable broker which is not regulated by any reputed regulation authority in its region. This broker offers trading and investment services in many countries without having a license from any regulatory authority in its country like CySec, ASIC, FCA, CNMV, etc. The broker got many Complaints and negative Plus500 reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
Website – https://www.plus500.com/
Address – Plus500CY Ltd, 169-171 Arch. Makarios III Avenue, Cedars Oasis Tower, Floor 1, 3027, Limassol, Cyprus
Warned By – Not Recommended By Review Website Like Report Scam
Domain Age Information of Plus500
|Date Registered||May 08, 2008|
|Domain Age||14 years, 9 months, 26 days, 1 hour, 5 minutes, 51 seconds|
Despite Plus500 attempts to look legit and trustworthy, we can’t disregard the alerts that Plus500 giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2023 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.
Possible scam activities of Plus500
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Plus500 review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Plus500 Reviews and Complaints
Plus500 has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative Plus500 Review
After Searching internet you will find many negative Plus500 Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Plus500 reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
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Plus500 Review: Conclusion
To begin with, Plus500 is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging Plus500 as a possible scam in this Plus500 Review. Are you planning to trade with Plus500.com and invest your money? Report Scam suggests you to read this Plus500 Review first.