Is 500option Scam Broker?

500option Scam Inspection Reivew

500option Scam Test

One of the most recent additions to the binary options market, 500option was launched in early 2015 with the supposed goal of providing its clients with the best possible service and a huge range of opportunities. However, traders are often reluctant to open an account with a new and relatively unknown broker because a possibility of scam always exists. This is where we come in – our 500option scam test is designed to explore all safety features this broker has to offer and to determine how reliable this company really is. It’s a good thing we did that because the results of our investigations left us pretty disappointed. Continue with the test to see what was the problem. 

Is 500option Scam Broker? | Trading platform

Examining the 500option Trading Platform was the very first thing we decided to check in our 500option scam test. Trading platforms are sometimes used by scam brokers to feed false information to their traders and manipulate them into making an incorrect market prediction. Scammers can sometimes also change a trade’s expiration time, again to make you end up out of the money. In this case, however, there is not a single trace of any kind of scams and the whole thing functions as smoothly as one could hope for. This is because the platform is based on the latest version of SpotOption software (SpotOption 2.0) which allows traders to go effortlessly through more than 90 different assets and a whole lot of different trading modes. In addition, 500option receives all its data from a globally recognized data provider, at the rate of three times per second. Therefore the prices will always be completely accurate, so no 500option scams are possible when it comes to this broker’s trading platform. Generally speaking, we were very pleasantly surprised with this particular part of the broker’s offer and the 500option scam test seemed to be heading towards complete success. However, it all turned out to be a clever ruse. 

Is 500option Scam Broker? | Account Safety

Next part of our 500option scam test will deal with the accounts this broker has to offer and all security aspects related to them. First of all, there are four basic types of accounts (Mini, Gold, Silver and VIP) with a special Islamic account added for clients who follow the Islam religion, as stated in our 500option Review 2016. The minimum deposit is set to $250 and there are more than a few ways for you to make the investment – traders can choose between regular bank wires, credit cards and multiple eWallets. These deposits will activate 500option Bonuses and the brands included in these transaction methods are already pretty well known around the world, so there should be no issues with their reliability. Visa, MasterCard, Maestro and Carte Bleue are your options should you choose to deposit money via credit cards, whereas the supported eWallets include InPay, UPay, CashU and Neteller. All credit card payments are protected by the internationally accepted SSL system, a standard among the best brokers in the industry, which is supposed to encrypt all your personal and account information as you use your credit cards. In addition, all funds are supposedly held in a segregated banking account and can only be accessed with the trader’s explicit order. These funds should never be used for anything else except binary options trading, but as we found out the hard way, this is not true in 500option’s case. As you can see, multiple levels of protection seem to be active at all times to give you the illusion that you will have the best possible trading experience. The company also states that they will soon become a broker licensed by CySEC, but we believe this is a blatant lie because no sane regulatory body would give any kind of license to a broker such as 500option. 

500option Ladder

500option Ladder

Is 500option Scam Broker? | What happened?

Well, we’ll tell you what happened. After several days of trading with moderate success, we decided to withdraw our funds from the trading account. We did everything the broker asked us to do and complied with their rules right down to the last letter, only to get completely ignored and scammed. Not a single cent was delivered back to us and, after a waiting much longer than the required period, we tried to access the support team and find out what happened. To our amazement, all channels of communication went silent on us and we couldn’t reach a single operator. At this point, we realized that we were tricked and that all those intricate details of this “company’s” offer were just a way to lull us into a false sense of security. At first, the broker really does seem genuine, especially because there are so many interesting details in their offer, but if they don’t want to act professionally and deliver their clients’ money, no kind of attention to detail can mask the fact that they are just a bunch of scammers. So, unfortunately, although it did look very promising at first, our 500option scam test is a complete failure. We could not recover our hard-earned money, and we advise you not to invest your funds with this company. Ever! They cannot be trusted.

500option Deposit

500option Deposit

Is 500option Scam Broker? | Conclusion

Although this broker really does seem genuine at first, we unfortunately don’t have good news for you. The whole thing falls apart when you get to the withdrawal process and the company shows what it really is – a facade for scammers. 500option scam test therefore does not end well, and we seriously recommend that you avoid this broker completely. There is a serious chance that you won’t be able to get your money back after you make a deposit. Too bad, because this company really showed some promise at first, but greed and lust for quick and easy money turned out to be too tempting for these people. Fortunately, there are plenty of other reliable brokers on our website, so look around and you will easily find a reliable partner. 

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Author: Ben Prescott

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