Plus500 – what we know and have as facts about it; Plus500 is a trademark of Plus500 Ltd, which operates through the group of subsidiaries that includes Plus500CY Ltd, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 250/14; Plus500UK Ltd, which is authorized and regulated by the Financial Conduct Authority (FCA) under reference number 509909; Plus500AU Pty Ltd, which is authorized and regulated by the Australian Securities and Investments Commission (ASIC) under license number 417727, by the Financial Markets Authority New Zealand (FMA) under license number 486026, and by the Financial Sector Conduct Authority (FSCA) in South Africa under license number 47546; Plus500SEY Ltd, which is authorized and regulated by the Seychelles Financial Services Authority under license number SD039; Plus500SG Pte Ltd, which holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1). These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Order Execution Policy document that Plus500 acts as the sole execution venue and as principal in all client trades, which are bilateral transactions between it and the client. This means that Plus500 is a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit. It is detailed in the Conflict of Interest Policy document: Plus500 may be matching the “client’s orders with that of another client; Plus500 is likely to make a financial gain, or avoid a financial loss, at the expense of the client.
We also found that there are some posts in forums about frequent impossibility to close profitable trades, manipulating client orders with larger amounts, inadequate and poor customer support, inability to trade during volatile events and posting false positive reviews. Keep in mind that the subsidiaries of Plus500 are regulated but the parent company Plus500 Ltd is not under any financial regulator.
So far, we have not received any complaints from customers of Plus500. If you have any criticism to share with us or feel annoyed by Plus500, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and Plus500if you wish.