500pips Review – Is 500pips Scam or Legit?

Read our 500pips review to see why we recommend this broker for trading. Just to clear doubts, this is a 500pips.net review.

If you have ended up on this 500pips review, then you are probably in search for a broker to help you start online trading. It is not surprising that a massive number of people are now following the trading trend. After all, the profits the financial markets have to offer are not easy to find elsewhere and the global coronavirus pandemic has severely limited good investment options. You can trade easily from anywhere and find options that are suitable to your risk tolerance, which has boosted the popularity of trading. Of course, this means that demand for brokers has also gone up, since they are the ones that give you access.

Just one Google search and you can find out that there are plenty of brokers touting their services and ready to assist you in tapping into the potential of the financial markets. But, this doesn’t mean that all of them are equally capable and you can just choose any company. No, like every other industry, competition is intense here and there are suitable and unsuitable options available. It is your job to figure out which one will suit you the most in order to have a seamless trading experience.

If you choose wrong, you will not only encounter difficulties, but also find yourself back to square one eventually, which means having to look for a broker again. This is time consuming and can also mean financial losses, so you wish to avoid this scenario at all costs. How can you do that? You can accomplish this by choosing right the first time. If you are confused due to the choices available, you can simply identify the reasons to consider one company over the rest. This can be done in the case of 500pips, which was established by Growth Capital LLC, and has its offices in Belarus. What are the reasons to use their services? This review can help you understand them:

Reason 1: It is a regulated broker

You will find both regulated and unregulated brokers in the market when you start looking and it will not take you long to see that the former are a better option. Why? This is because they are more transparent and fair in their services, as they are monitored by authorities and cannot exploit their clients in any way. You want a competitive and secure brokerage when you decide to trade online and this is exactly what you will find in the case of 500pips because it is regulated.

As a matter of fact, you will be impressed to see that 500pips is actually regulated in different jurisdictions around the world and by some of the most reputable authorities globally. These include the National Bank of Belarus.

Opting for a regulated broker like 500pips means that they use top-notch security measures for allowing you to trade without any worries. They have a Privacy Policy and they also comply with KYC (Know-Your-Customer) and AML (Anti-Money Laundering) measures, which means no fake accounts can be made. This also mitigates the risk of financial fraud, identity theft and money laundering. Your personal and sensitive data is also protected via strong encryption standards and you will be offered negative balance protection.

Segregated accounts are also maintained by 500pips on behalf of its clients, which can keep your funds safe. Also, the regulation by Belarus means that the brokerage is part of a compensation scheme, which works like insurance. This means that traders will be compensated in the event the company goes bankrupt or decides to halt its services.

Reason 2: It allows you to diversify

There is no doubt that trading is lucrative, but it is essential to remember that the high profits also come with high risks. You can just as quickly lose your money, as you can make it, which means you need to be able to minimize your risks. How can this be done? Diversification is one of the top strategies recommended for this purpose, which means spreading out your investment across different markets and assets to balance your portfolio. However, this can only be accomplished if you have access to such variety of instruments and this is where you will find 500pips to be more than suitable.

They have an extensive list of instruments available, which comprises of 160 options belonging to some of the most profitable financial markets in the world. You can diversify your portfolio easily and find the right instruments that suit your risk tolerance. Check out some of the options:

Stock

One of the most popular financial markets globally is none other than the stock market and 500pips gives you a chance to tap into its potential. You can opt for stocks like Apple, Tesla, Netflix, Volkswagen, Pfizer, Cisco Systems, IBM, Coca-Cola and Ferrari.

Forex

With a daily trading volume of more than $5 trillion, the forex market is the biggest one in the world. You will find a ton of currency pairs provided at 500pips and these include EUR/USD, USD/JPY, USD/MXN, GBP/USD, AUD/CAD, NZD/CHF and EUR/GBP.

Indices

Another lucrative financial market that you will find at your disposal is called the indices market and you can trade some of the top indices including NASDAQ 100, S&P 500, FTSE 100 and AUD200.

Commodities

If you are looking for instruments that can give consistent returns, you can go for the commodities available at 500pips because there are both hard and soft ones available. The former refers to precious metals like gold, silver and copper and the latter refers to agricultural items like coffee, wheat, corn and sugar. Energy commodities like crude oil are also available.

Cryptocurrency

One market that has climbed up the ranks quickly is the cryptocurrency market and its volatility has made it immensely popular. Therefore, 500pips has added some of the top choices from this space for its clients, which include Bitcoin, Litecoin, Bitcoin Cash, Dogecoin and Ethereum.

Reason 3: It offers the top trading solutions

It is true that the instruments you trade can have a big impact on the kind of profits you make, but the trading solutions also play an important role. How? This refers to the trading software/platform you are provided and if it is slow in executing trades, or doesn’t have the necessary tools needing for making good decisions, your bottom line will suffer. Hence, it is understood that every trader wants to have the best trading solutions and 500pips has delivered exactly so. How?

This is due to the fact that they offer their clients the MetaTrader 4 (MT4) trading solutions, which are known as the leading option in the market. You will discover that 500pips gives you the option of downloading the MT4 desktop client, their mobile apps, including for both iOS and Android in case you want to trade on the move, and the WebTrader if you don’t want to download anything. But, no matter which option you go for, you will find a feature-rich and easy-to-navigate trading solution that suits newbie and skilled traders alike.

The MT4 trading solutions have a highly intuitive interface, which makes it easy to use. It also uses cutting-edge technology for providing one-click trading features, along with superior trade execution. This ensures that traders can take advantage of price movements easily. Moreover, 500pips has added some of the best trading tools to the mix in order to make trading more profitable and efficient for everyone. These include fundamental and technical analysis tools, push alerts, more than 30 trading indicators, trading signals, risk management tools like stop-loss and take profit orders and Expert Advisors (EAs) for automated trading.

Reason 4: It has a quick registration process

When you want to start trading, it is understood that you wouldn’t want to waste your time in having to complete an extensive registration process. Unfortunately, many brokers have very complex and time consuming procedures, which can often frustrate people. This is a problem you don’t have to face with 500pips because they have kept their registration process simple and quick for everyone. Instead of dragging it out, they ensure that people can register on their platform within five minutes.

You only have to fill out a single form that can be found easily on the 500pips website and it asks for very basic details, so it doesn’t take you long. You have to provide your first and last name, country, phone number and an email address and a password. An account currency also needs to be selected, which can be EUR, USD or GBP. You have to agree to their Privacy Policy, Client Agreement and other legal documents and the process is complete.

Reason 5: It provides several account options

You will have to open an account with 500pips in order to use their services and this will keep track of your transactions, funds and other relevant details. Plus, it also provides you with the features and conditions for trading, but what options are available? Every company offers different ones, so it is necessary to evaluate and understand what you will be given. There are four options that you will find at your disposal, each of which is added for catering to traders of a specific background. Whether you are a novice, an amateur or intermediate trader, or even an expert one, there is an account for you.

The options 500pips has added include Classic, Silver, Gold and VIP, with the first having the highest spreads and the latter offering the lowest ones. If you are wondering about account features, you will find a dedicated account manager, access to free education, different types of webinars, round the clock customer support, trading signals, full account overview, 100% margin and a swap discount period.

Reason 6: It offers excellent customer support

Another area where 500pips seems to have excelled is customer support, as they have ensured that their clients can get all the help they need. Visit the Contact Us page on their website and you will find an email address and a phone number provided for this purpose. You can also fill out the contact form that’s given and one of their representative will get in touch with you. One of the best things about the customer support here is that it is available 24/7, which is a good thing because the financial markets operate round the clock and you may need assistance at any time.

Moreover, you will also be able to get one-on-one training from 500pips experts and they have come up with an FAQ page on their website. Here, you will find answers to a number of questions you may have about their services and their features and it saves you from having to contact customer support agents every time you want to ask something.

Conclusion

When you have considered the reasons to use the services and features that 500pips has to offer to you, it can be determined that it is a good and reliable broker that can help you in your journey, allowing you to achieve the financial goals you have.