500option has been around for approximately two years now, so although they are not among the most experienced brokers, they should know how things work by now and be able to provide decent service. Unfortunately, that is not the case, but not because their offer is lacking some major features. In this 500option Review 2016, we will try to analyze the most important parts of the broker’s offer and explain why our opinion about this company is negative. Our experienced team of trading experts took on the job of analyzing everything on 500option’s website, so you can really expect a thorough report in the following paragraphs. Give us a bit of your time and we will show you what you need to know about this company.
500option Review 2016 | Trading platform
As we first opened the broker’s website, we found several glitches on it, so everything didn’t look as it was supposed to. The website’s images were all over the place and that’s something we feel we have to mention before 500option Review 2016 starts and it’s going to start with the trading platform. There are six trading modes you get to choose from (Classic, Pairs, 60 Seconds, One Touch, Long Term and Ladder), but there is a special trading mode designed exclusively for trading forex. This is all based on SpotOption software, so the whole thing functions pretty well. There are enough assets to choose from and the design is simple enough that even rookies can find their way around in no time at all. So the impression we got from the platform was pretty good, but it turned out to be false hope. You’ll see why in the rest of this 500option Review 2016.
500option Review 2016 | Money transfer methods
The trouble starts when you access the money transfers. More precisely, it starts when you want to make your 500option Withdrawal – the deposit process actually went pretty much flawlessly. When you look at the available methods, you’d think that this is a pretty serious broker because they offer wire transfers, a bunch of credit card brands (MasterCard, Visa, Maestro and Carte Bleue) and several e-wallets (CashU, Neteller, UPay…). Unfortunately, when we initiated the withdrawal procedure and fulfilled all the conditions this broker put in front of us, we still could not get out money. We even waited a lot more than 500option asks of its clients to wait in order to complete the money transfer process, but still nothing. Not a single cent was delivered to us and that’s the main point of this 500option Review 2016 – this company cannot be trusted.
500option Review 2016 | Support
Of course, we didn’t just sit on our behinds when we realized that we cannot get our hard-earned money. That’s why we went on and contacted the broker’s support team, only to be disappointed once again. You see, what was once a pretty good service with seemingly knowledgeable people turned out to be just another scam. People “trying” to help us at one point actually tried to convince us that the money was in our bank account and that there is no reason for concern. After we presented evidence that this was most certainly not the case, they simply started ignoring us and our inquiries, which were made via live chat, e-mail and phone. Another very disappointing experience with this broker because things really looked pretty good at first, but now we have no choice but to call these people scammers. That’s the reason why we wrote our 500option Scam Warning. However, 500option Review 2016 will continue: we want you to see everything on offer here.
500option Review 2016 | Account types
Just to give you an example of how much effort was put in this website to make you think that this broker is legit, we will now continue 500option Review 2016 with a look at their account types. There are four of them to choose from, and the process of opening them is really quick and simple. Makes sense because scammers really wouldn’t want to make depositing money with them very complicated, now would they? On paper it all looks quite appealing: the Micro account offers all basic features, the Silver account adds signals, 100% bonus and educational materials, while the Gold and VIP accounts offer more of everything and are meant for more experienced traders. You can even choose to open a special interest-free Islamic account if you want to trade in accordance with the rules of the Islamic faith. Quite a detailed scam, don’t you agree?
500option Review 2016 | Not regulated
One thing that should have told us that this broker cannot be trusted is the fact that this broker is NOT regulated by any reliable regulatory body or authority. For a company that’s been around for about two years, that’s not a sign of reliability. Sure, 500option boasts SSL encryption and full protection of your personal and financial information, but even if this were true, what good is it when they flat out refuse to give you your money back? You can read more about this topic in our “Is 500option a Scam?” article, where we analyze this issue in much more detail. As for this article, we believe the situation is pretty clear and that we can wrap 500option Review 2016 up with a conclusion.
500option Review 2016 | Conclusion
We honestly cannot recommend this broker to our readers and we think that 500option Review 2016 has clearly shown why. Simply, there is no guarantee that you will ever get your money back (we’re still trying to get ours back, by the way). Granted, there are some pretty interesting features, the money transfer method are quite numerous, the platform functions without any problems etc, but what good is all that to any trader when they get scammed out of their money. Fortunately, as binary options is a booming industry, there are plenty of other, more reliable brokers out there – brokers that can provide you with a good trading experience. Browse our website a bit and see which of them our experts recommend.