Plus500 system overload

client complaint, FCA, plus500, Plus500 System overloadRecently, there have been complaints of traders about the system of Plus500, afflicting clients to experience delays and difficulties in certain activities. According to the broker’s website the issue behind the difficulties are due to a system overload. Especially, for new traders it will cause some serious delay, as the notice on the website clarifies: If you have submitted documents for our review, note that it will take us up to a few days to complete the review. Be assured that we are doing our best to treat your query as soon as possible.”

For the individuals that are unknown to Plus500, it is considered to be a major player in the forex industry, especially since the CFD broker is listed on the London Stock Exchange, while possessing over the highly reputable FCA license. Just recently, the firm released an astonishing performance report over Q1 2015, highlighting a record revenue. To top it off, the broker even signed a sponsorship deal with the successful La Liga football club Atletico Madrid, back in January this year. Even with all these positive performances summed up, the broker still lacks on customer support as it is solely depending on email assistance, while not providing any live char nor telephone assistance.

Relating back to the Plus500 system overload case, in attempt to reach out to Plus500 for more clarification, no response has yet been received by the broker. However, due to the large number of queries on the matter, Plus500 has sent out recently an explanation through its Facebook platform, conveying the following clarification on the case:

“In line with our regulatory obligations, we are undertaking additional checks on several trading accounts. As a result of this exercise, we are currently reviewing more customer documents than usual and therefore it might take us a few days to review all trading accounts. We are also experiencing a larger workload than usual and it will take us longer to respond your query.

Be assured that we are doing our best to treat your query as soon as possible. We value you as a customer and apologize for any inconvenience caused and thank you for your patience.”

The Plus500 Team

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