Plus500 CFD Trading - Frozen My Position

Wanted77 on 03/02/2025 - 15:11
Last edited 03/02/2025 - 16:38 by 1 other user

Just wanted to get your thoughts on this - have you used Plus500 to trade before? Are they legit?

Today I purchased Cryptocurrency from Plus500 (purchased the dip) - I purchased this particular crypto at $0.58 it then dipped to $0.54 - I have plenty of margin (no were near liquidation) after hitting $0.54 the price immediately started increasing - it's now sitting at $0.66 - however Plus500 have frozen my position at $0.54 for about 2 hours now…

I have reached out to their support and they have no reason for this and have passed onto the trading team to investigate…
surely this is not legal lol they are preventing me from closing my position at a profit….

Any other experiences here with them? never will be using these guys again..

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Plus500

• 

  Wanted77 on 03/02/2025 - 15:30

  Yes I am aware. I am referring to CFD prices and comparatively to other CFD prices on other exchanges.

  Plus500 have just frozen my position at a loss for more than 2 hours now and are preventing me from closing my position at a profit with no valid reason.

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  Duckie2hh on 03/02/2025 - 17:03

  Still frozen?

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  owli on 03/02/2025 - 17:05

  Australian mobs who offer FX and CFD's are usually bucketshops. You are better off trusting the offshore crypto derivative places more than any of the Aus ones. Good luck with your punt, please keep us all updated.

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  Drpepper666 on 03/02/2025 - 20:32

  What shitcoin did you buy? Hawk Tuah?

  • 

    Gdsamp on 03/02/2025 - 20:55

    +3

    Canadian Dollar

    • 

      pegaxs on 03/02/2025 - 23:47

      God, I wanna short the USD so bad….

      • 

        CaptainJack on 04/02/2025 - 10:02

        But not bad enough to follow through?

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  simplystu on 03/02/2025 - 22:41

  Could be any number of reasons (eg. TAX - not providing AU tax file number).

  Just saying.
  OP - you've been fairly vague … So online forum is really only guessing.

  IMO - keep in constant contact with them +++ push for a formal/valid reason (email/writing - not over the phone).

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  Wanted77 on 04/02/2025 - 15:49

  For those asking I bought Cardano - made a daily profit of 20% on it - not bad!
  Plus500 ended up unfreezing my position without providing any reason after I spoke to support and emailed threatening to go to the regulator…

  Very suspicious behaviour.. im sure it wouldn't have taken 3 hours to unfreeze my position if the value had dropped.