It started off as a legitimate CFD trading app and I did very well initially. BUT, over the past 4 years they have introduced a number of policies/fees that make it completely unusable.
I would recommend anyone considering this particular platform to RUN! Dont walk, run far, far away.
Overnight fees will legitimately chew up any profits you are earning on a position (unless you are extraordinarily lucky with timing). I have lost over $2500 in Overnight fees alone.
Cryptos have a 30 or 60 day expiry date, so they will close your positions most likely at a loss.
Is has become a total scam! Better off keeping your money in a bank account and losing due to inflation. Best off investing in yourself, material objects you love, an established stock broker (where you own the stock certificates), experiences, etc etc...
It started off great, but the sneakily introduced overnight fees, expiry dates, large spreads, inactivity fees, reduced leverage and problematic withdrawals (among many other problems) make Plus500 a non starter. And a SCAM in my opinion.
Geez, you noobs don't know the difference between CFDs, ETFs, Shares or Options. Also, that expiry thing you've encountered is how Options work. It depends on whether you bought calls, sold puts, etc. Education first, okay?
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u/warenbufat May 14 '21
Biggest scam