Plus500 lost £6000 -

xtreme09

Newbie
5 0
Hello Everyone,

Well don't exactly know what to write but, am new to this trading field and few days ago when China decided to blow everyone off i was watching telly and thought "Hey.. share must be cheaper now so i should buy few and sell them later on for profit".

Now saying this i got absolutely zero experience in this trading field i google'd it and the first result came up was Plus500 and they were giving £20 free sign up bonus. I had absolutely no idea how these CFDs work i mean No idea At all, nor did i used the demo account anyways.

After signing up i bought £18 or something worth of crude oil and Bam within hour i made £75 profit, i closed that deal and well i was like **** this is good £75 within an hour .. so i got hooked up and within few days i made £6000 from £20, well that was until yesterday morning.

When i decided to buy crude oil for £3500, and after few hours it all went downhill and i lost everything i had in my account :( **** feels miserable.
 

tomorton

Legendary member
7,458 1,010
Welcome.

Either -
Make a plan for what a good trade should look like. Paper trade to learn how trading works. Focus on avoiding big losses, not making big wins. Modify the plan until you're consistently profitable. Start trading with as small amounts in real £ as you are allowed. Increase the stake once you are consistently winning and your account balance is moving in a gentle upwards slope.
Or -
put the lot on Lucky Lad in the 3:10 at Haydock.
 

xtreme09

Newbie
5 0
Obviously yeah am trying to learn bit by bit now, as i said before i had absolutely no idea how these things work. I should have had withdrew that amount but too late now.
 

dbphoenix

Legendary member
6,952 1,244
Obviously yeah am trying to learn bit by bit now, as i said before i had absolutely no idea how these things work. I should have had withdrew that amount but too late now.
No, there's nothing you can do about that. But you can learn from it if you decide to go on.

If you have absolutely no idea how these things work, then find out before risking any money. Would you enter a professional poker tournament without knowing whether a straight beats a full house, much less not knowing what a full house is?

If you respect your money, your money will treat you well. Otherwise, not.
 

Yuppie13

Junior member
31 0
Hi,

Don't worry. You would have anyway not been able to get your money out from Plus500. They have been under FCA investigation for violating AML rules.
Bottom line: I opened an account there, sent documents 3 months ago and won't get any answer. Seems they have bigger problems than handling new clients :whistling
 

xtreme09

Newbie
5 0
Hi.. my account was verified, make sure when you send them documents open a ticket as well and keep sending them messages. My account was verified within few hours.
 

JSMITH07611

Member
90 0
actually plus500 do pay out. i know they have had fca investigation for not verifying clients properly and their support is not to good, but i have still been paid out from them and have had myself verified within around 3 weeks from the debacle starting.

overall i have made losses with them so that may be an incentive for them to pay my profits but remember if they did not pay out they would losse their fca membership so after all they have to be honest in that sense
 

CotswoldD

Newbie
9 1
Hi Guys
I have been using 500Plus demo for the last month or so with good results. Only been on Forex with a dabble in oil last few days. If i pay close attention i can make some good money. Ready to try live account.

Comments above that they are violating. Anyone still using them?
 

forex.king

Newbie
3 0
lol

So you want us to believe you made 6000 GBP out of 20 GBP sign up bonus, right?
Good joke though...
oh not, sorry, I made that as well.. but I made 600 000 out of that bonus, and then suddenly in one sad trade I lose it..
what is the point of you bragging here? You did not make that money, not on oil, that is not that crazy those days, it would take you months and you would have to be extremely lucky to made it. :sleep:
 

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