500option Review 2016

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500option Review 2016

500option Review 2016

There aren’t many brokerages that manage to pull off what 500option did. This broker is one of the most elaborate scams we have seen in this business for a long time, and in this 500option review we will tell you exactly what to expect from them. Don’t get us wrong, there really are some very interesting and intriguing features, but that’s the beauty of it – those features create a very convincing illusion that this is a professional broker dedicated to providing you with the best possible trading experience. Unfortunately, this is not the case, so read on and you will see which features are genuine and which are used to scam honest traders.

500option Review 2016 | Account Packages

At the very beginning of this 500option review, we have to emphasize that opening a free trading account with this broker really is a piece of cake – all you have to do is fill in the mandatory fields in the registration form. After submitting the form to the broker, a welcome e-mail with an activation link will be sent to the e-mail address you had provided in the form and that’s about it – after that, you can explore everything 500option has to offer. Of course, scammers won’t make opening an account with them difficult and with the minimum deposit requirement of $250, they make sure you leave a significant amount of money with them right from the beginning. 

500option Long Term

500option Long Term

Depending on the deposited amount of funds, you will get one of four account types available. For instance, Micro accounts are designed for traders who are about to make their first steps in the binary options world. They can be opened with 250$, and even introduce welcome and recurring bonuses on each deposit, market reviews on daily and weekly basis, as well as full access to educational materials. The broker’s Silver account is tailored to improve a new trader’s skills and fundamental knowledge by offering a 100% welcome bonus, daily trading signals, an educational e-Book and exclusive access to senior analysts. Gold and VIP accounts, on the other hand, are specifically designed to meet the requirements of more experienced traders – while the Gold account introduces more daily trading signals, personal trading sessions and direct contact with a personal broker, as well as numerous available educational materials, the VIP account combines the best features of every account type, thus providing traders with the best possible trading experience. We also have to mention the special Islamic interest-free account which is suitable for traders who follow the Islamic faith.

You can see just from the last paragraph how much effort was invested to trick traders into depositing money here. There really are numerous features available and they function pretty well at first glance. However, this is all just a disguise.

500option Review 2016 | Trading platform

A quick glance at the broker’s trading platform will be the next topic of our 500option review. This  trading interface offers as much as six different trading types – Classic binary options, Pairs, 60 Seconds, One Touch, Long Term and Ladder, with a special Forex-adjusted platform. Minimum investment needed is only 5$, meaning that you can get a lot of profit without risking a lot of your funds. The platform is based on world-famous SpotOption software, so it really functions absolutely flawlessly. We honestly can’t find anything wrong with it and we think it is the best thing 500option has to offer. Good design really makes you feel comfortable and the trading itself is pretty pleasant, but that does not change our opinion. Like we said, there are some good features here too, but they only serve to lure traders in. 

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500option Review 2016 | Deposit and Withdrawal

And here we are, we have arrived to the most important part of this 500option review. Supposedly, all your transactions are protected with SSL encryption, a standard feature among reliable broker, but this is unfortunately not relevant in the overall impression. Withdrawal is the main problem here and you all these features are worth absolutely nothing if the broker is not willing to fulfill its end of the deal. But first things first, let’s examine what is available.

500option Deposit

500option Deposit

As far as the banking methods are concerned, one can deposit funds via credit or debit cards (Maestro, Visa, MasterCard and CarteBleue), wire transfer or e-Wallets (CashU, UPay, InPay, Neteller). Pretty good, huh? They all work, too. The problem arises when you want to withdraw the money. At least, that’s what the problem was for us. You see, after waiting for a considerable amount of time, much longer than the broker asked us to, we never got our money back. The support was of absolutely no help, they even ignored us completely, so we really can’t say in this 500option review that you will be dealing with a reliable broker here. They simply decided not to give us our money back and that was pretty much the end of it. This all turned out to be a very unpleasant experience, unfortunately.

500option Withdrawal

500option Withdrawal

500option Review 2016 | Education and Customer Support

We are going to wrap up our 500option review by looking at this broker’s educational materials and support, and we have to say that they have done a pretty good job with the materials. We will give credit where credit is due because you really have a lot of materials that can help you with researching various topics here. But when you remember that the withdrawals function the way they do, you realize that this is just another way of convincing people to deposit as much money as possible.

The real face of this company was shown to us when we wanted to ask for some help regarding our withdrawal. The team would either ignored us completely or try to convince us that nothing bad has happened and that we will receive our money. After all deadlines were breached and no money or help arrived, we decided that we cannot rely on these people in any way. Don’t risk your money – stay away from this broker.

500option Review 2016 | Conclusion

To conclude this 500option review, we can only express our disappointment with the way this broker behaves. Yes, there really are some very interesting features here and the platform is really good, but it’s all for nothing when you can’t get your money back. This definitely is not a company you should trust your money with. Look elsewhere if you want a reliable trading partner.

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