| General Information |
|
|---|---|
| Broker Name: | 500pips |
| Broker Type: | CFD, Forex & Crypto |
| Country: | - |
| Operating since year: | 2018 |
| Broker status: | Active |
| Customer Service | |
| Phone: | Luxemburg: +35220204283 |
| Email: | [email protected] |
| Languages: | English |
| Availability: | 24/6 |
| Trading | |
| Trading platforms: | Proprietary |
| Trading platform Time zone: | - |
| Demo account: | YES |
| Mobile trading: | Yes |
| Web-based trading: | Yes |
| Bonuses: | Yes |
| Other trading instruments: | Indices, Stocks |
| Account | |
| Minimum deposit ($): | $250 |
| Maximal leverage: | 1:500 |
| Spread: | Fixed |
| Scalping allowed: | N/A |
500pips Review 2021 – How good is this broker?
- CONTENT
- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- THE TRADING ACCOUNTS
- TRADING CONDITIONS
- TRADING PLATFORM
- CUSTOMER SERVICE
- CONCLUSION
General Information
500pips is a new brokerage that provides a wide variety of trading services. It built its core on forex and CFD trading and has other assets, including stocks and indices. Pepper group LLC, a Chicago marketing organization, owns and operates the broker. That means the broker resides in an onshore area that’s very well regulated. Our 500pips review will aim to help you in deciding whether they’re the right broker for you.
Their seriousness as a company is apparent as soon as you open 500pips’ landing page. Namely, it does a great job at conveying a professional feel that’s still easy on the eyes. We’re aware that looks aren’t a primary concern when choosing a broker, but we still consider them an upside. That’s because a neat-looking website indicates a broker’s willingness to go the extra mile. 500pips could’ve just gone with a stock website, but they decided on a strong, proprietary design.
Furthermore, the website is quite functional as well. There’s no lag on the broker’s end, and the transitions between pages are quite smooth. That eliminates some of the browsing frustration you can feel with some low-quality brokers. Another commendable trait about the website is that it’s clutter-free and does well in showing you what you need to know. As such, investigating the broker is a simple, quick, and painless process.
As far as the initial impression for our 500pips.net review goes, the broker does well. However, we went more in-depth and checked out the rest of its service. Before we carry on, let’s look at some of 500pips’ best features:
Detailed Asset List at 500pips
Information is power in the brokerage world, especially when choosing a new brokerage to make a permanent trading hub. As such, when a brokerage is willing to feed you as much info as possible, it’s a great sign. Looking at 500pips’ asset page, it becomes apparent that they want their customers to enter the service informed. It has all of its assets in an index, along with its spreads, leverage, and prices. There’s even a window showing a price tracker if you click on a particular security.
Extended Support
As far as brokers go, users often complain about them. However, the primary area of complaints isn’t the services brokers tend to offer. Instead, users often complain about hard-to-reach, unhelpful, or rude customer support operatives. Luckily, that isn’t the case with 500pips.net, as it set up a support structure with an extra day of availability. While brokers tend to follow a 24/5 system, 500pips’ support works an additional day, turning that to 24/6.
No Hidden Charges
500pips is a transparent brokerage, and as such, you get exactly what you see in every regard. That includes pricing, as 500pips doesn’t attempt to add any hidden fees to your trades or funding method. Furthermore, even the spreads are abundantly clear, meaning you can always calculate your trades’ cost. Another advantage of the spread-based charges the broker imposes is that they’re far cheaper than fee-based approaches. As such, you’re sure to get the full value of each dime you deposit at 500pips.net.
Funds Trading and Security with 500pips
Security and a solid trading experience are the two factors each quality brokerage must-have. Without fund safety, users might wake up one day and find that their hard-earned money had been stolen. Conversely, a broker might be the safest ever, but if its charges make it impossible to profit, what’s the point? As such, it’s vital to find a balance between the two while still fulfilling at least minimal thresholds for each.
Luckily, we believe 500pips managed to hit that sweet spot and that it offers both competent trading and security. First off, it’s a child of a much larger and prominent firm, lending it credibility from the get-go. Furthermore, the transparency of its website and service serves as a great initial sign. And although the company is relatively new and without a well-formed reputation, the overall impressions seem good. As such, it has all the non-technical safety requirements you’d want from a broker.
But still, some traders like to see some technical safety measures as well. We don’t blame them, as we, too, consider at least some degree of objective measures a must. As such, we’d like to mention the broker’s top-notch encryption as a feature that helps prevent cyberattacks. Furthermore, the broker has a clause promising not to share your personal data with third parties. That’s quite important as handing out data has become quite lucrative, and many brokers have begun doing it.
We want to mention one last security feature; the division of user and company funds. Because of it, even in the case of the firm going under, you’ll be safe. Because of everything we mentioned, 500pips is one of the few brokerages we consider truly safe.
The Trading Accounts
Earlier in our 500pips.net review, we commended the broker for their clear and precise asset page. It’s time for us to do the same for the portion of their website that explains accounts. While most brokers explain what their accounts give, few go the extra mile. 500pips provides a detailed explanation of each account’s feature. As such, its page clears up any possible confusion, which significantly helps newcomers.
Even if you’re unfamiliar with trading terminology, you’ll know what you’re getting with 500pips. There are six types for the accounts themselves, ranging from the entry-level Basic version to the premium Black option. The accounts follow a tier-based structure, with higher investments getting you to better types. That means that you get the full value of your money, as you’re not paying anything for an account. You still get to trade with each dime you invest. On top of that, you don’t need to worry about chasing higher-tier versions, as progression can even happen “naturally” over time.
We consider a major strength but didn’t mention earlier in our 500pips review is the affordability of luxury features. The premium accounts are much cheaper than with other brokerages, making them simpler to attain. As such, even if you’re a mid-range investor, you might get to experience top-tier treatment.
We’d say there’s no wrong choice between the quality of the budget accounts and the affordability of luxury accounts. As such, picking becomes a matter of personal preference. Here are some of the 500pips account specifications:
Basic
- $250
- 20% Welcome Bonus
- 24/5 Support
Bronze
- $1000
- 40% Welcome Bonus
- 24/5 Support
- Account Manager: Junior
Silver
- $2500
- 60% Welcome Bonus
- 24/5 Support
- Account Manager: Senior
- Spreads: Silver
Gold
- $10,000
- 80% Welcome Bonus
- 24/5 Support
- Account Manager: VIP
- Spreads: Gold
- Pia-First Signals: Gold Signals
- Personalized Trading Strategy
Platinum
- $25,000
- 100% Welcome Bonus
- 24/5 Support
- Account Manager: VIP
- Spreads: Platinum
- Pia-First Signals: Platinum Signals
- Personalized Trading Strategy
- 1-on-1 Trading Trainer
- Exclusive Positions Access
Black
- Only for Exclusive Clients
- Information via Account Manager
500pips Review: Trading Conditions
We already stated the broker has competent trading conditions earlier in our 500pips.net review. Now it’s time to look at them all together. The broker lists its max leverage for each asset, with the max we’ve seen being 1:200. That enables day trading tactics while keeping users from spending too much. The spreads float but are low overall, again differing between particular assets.
The proprietary platform the broker uses is top-notch, and there’s a healthy asset variety. On top of that, account typing allows even medium spenders to experience luxury features. Even those on a strict budget can have a full trading experience without experiencing quality drops. As such, the broker’s service is universal.
The firm’s clarity also helps beginners start their road as traders. Even before signing up, they can get all the info they need. That marks the brokerage as a great starting point as well.
500pips Review: Trading Platform
500pips uses a proprietary platform that can compete even with the best trading terminals. It has up-to-second trading data and lightning-quick execution, making it the perfect tool. Its UI is intuitive, meaning it won’t confuse newer traders, but it still has complex functionality. Because of that, veteran traders will find that the platform enables a skill-expressive experience.
Lastly, the platform is available in both web and mobile variations. That vastly increases trader mobility, allowing them to trade on the go and switch terminals quickly. On top of that, it reduces downtime and increases convenience.
500pips Review of Customer Service
The broker offers extremely dedicated phone support. In fact, the customer support team is friendly and accommodating. Lines are open 9 AM to 7:00 pm Luxembourg time.
Luxembourg +35220204283
Besides, the platform offers customer support via the live chat function.
500pips Review: Conclusion
From our 500pips review, you can tell that we’re quite impressed with the broker. It’s a competent firm despite its young age and is promising rapid improvements in all areas. The clarity it has makes it a great starting point, while its complex features also suit veterans. As such, its trading experience is universal and a great fit for anyone, no matter their skill level or experience.
Furthermore, its excellent security serves as a backbone for top-notch trading. The combo makes the broker well-rounded, indicating integrity and seriousness. One more aspect of the broker’s universal service is how it suits both budget users and high-spenders. The account quality-to-price ratio is off the charts, making each dime you spend valuable.
500pips.net has earned our stamp of approval, as it took care of everything we’d want from a broker.
500pips
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Platform
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Trading Instrument
Good brokers
They are good brokers. They let me see their company and regulation prior trading. Also, they explain all the things I need to know including risk. Very transparent.
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Great profit
The happiest place to trade. Aside from earning a great profit, withdrawal is fast and easy.
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Great brokers
Great broker! Fast withdrawal and good trading terms.
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Regulated and honest broker
This is a regulated and honest broker. They grant and process withdrawal quickly without hassle. what I like is the way they explain things about trading such as policies, bonuses, also market movements, and signals.
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Reliable brokers
Overall, a good broker for CFD’s. They have so many good options to make money here. Trading signals are reliable and tools are easy to use.
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Skilled and professional brokers
Smart, honest broker and knows very well about this industry. Skilled and very professional.
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Professional
Respectful and very professional people. Aside from getting good trading results, I am dealing with nice people.
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Great services
Great services. I admire the brokers and their customer service. They are highly skilled and very friendly.
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Great services
I am earning good at the comfort of my own home. I love the offers and the services.
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Fast and easy withdrawals
Good forex broker company. Withdrawal is fast and easy, customer service is good and efficient.
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Good broker
A good forex broker. Signals and trading instruments are very profitable. Withdrawals and responses are always fast.
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Good broker
Fair trading terms and conditions. Good broker services as well. Been trading for a couple of months and had several withdrawals. So far, all is good.
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Good experience
Good experience. highly recommended broker.
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