marco p.

Clause 22.6 of the User Agreement
My Experience with Plus500 - A Cautionary TaleAs a former client of Plus500, I must share my experience to benefit others who are contemplating using this trading platform. This review centres around the abrupt termination of my account and the substantial financial loss that ensued, spotlighting the critical aspects potential users should be wary of, especially Clause 22.6 of the User Agreement. Clause 22.6 allows Plus500 to terminate the relationship with its clients, with or without cause, merely by providing written notice. This clause was invoked in my case, as communicated by an email from a Plus500 representative, leading to an immediate and unexplained termination of my account. The repercussions were severe, culminating in a personal financial loss exceeding $150,000.The execution of this clause without a comprehensive explanation or a prior discussion not only highlights a significant transparency and communication gap but also points to a potential disregard for the financial well-being of clients. The experience has prompted me to question the platform's practices and approach to client relationships and dispute resolution. For those considering Plus500 as a trading platform, I urge you to proceed cautiously. Thoroughly review the User Agreement, paying close attention to clauses that could affect your financial investment. My ordeal underscores the importance of understanding the full scope of your agreement with Plus500 and the potential risks involved. In conclusion, my experience with Plus500 has been incredibly disheartening, characterised by a lack of cleacharacterisedon, support, and, most importantly, fairness. The financial loss and how my account was terminated have left a lasting impact, prompting me to share this review to provide a cautionary perspective to others.
This is the email that has sent me:

Please note that your account will be closed in 30 days, on 19 April 2024. During this period, you will not be permitted to place any new orders or undertake any new transactions. You can, however, continue to fund margin, access your trading reports, and withdraw funds to source.

We apologise for any inconvenience caused. Our decision is final, and we will not enter into any more correspondence on the matter.

Regards,

Transaction Monitoring Team

Plus500UK Ltd
They couldn't give any reason they are just ******
Carefully, please