Approaching a new challenge such as trading can be tricky, especially as a beginner. It can involve hours of finding the best broker to trade with, looking for one that is both reliable and helps the user get the best out of their experience.
For someone new, this can be daunting. However, this review will help you to build a better understanding as we take a look at 500.TRADE and decide whether they are the best option for you.
Who are 500.TRADE and what do they offer?
500.TRADE is a financial service provider and broker that offers a potential of up to 70 financial markets to trade within any given country.
They are currently located in 5 rue Goethe, 1637 Luxembourg.
They offer a web-based trading platform that can be accessed via the use of a smartphone, computer or a tablet device, making trading more accessible than ever.
What account types do they currently have?
500.TRADE have up to five accounts that different clients can take advantage of, just like FXVC. The minimum deposit required for a basic account is 250 euros, which guarantee a user can kick start their journey to trading the financial markets.
Looking into the 5 different accounts, they currently offer:
- Provides Monday to Friday customer support for users
- An education centre that includes video tutorials and courses to improve
- A daily market review and updates
- Pro webinars alongside one of their professional investment analysts
- Price alerts in which to open a position
- Daily Analysis videos
- Offers everything stated above
- As well as a Junior Account Manager that can answer any questions you may have
- A minimum deposit of 1,000 euros is required
- A minimum deposit of 5,000 euros
- All of the basic account benefits
- A senior account manager to help you build a diverse and balanced trading portfolio
- Silver spreads to improve your profits
- Also, a 20% welcome bonus
- A 40% welcome bonus
- Gold spreads to improve your profits
- An executive account manager giving you a market forecast and a message on important upcoming events
- Gold signals allowing real-time signals to your phone and email
- A minimum deposit of 10,000 euros
- Personalised trading strategy
- A 1 on 1 trading trainer twice per month
- A 60% welcome bonus
- Platinum spreads to improve your profits majorly
- A VIP account manager giving you a market forecast and a message on important upcoming events
- Platinum signals allowing real-time signals to your phone and email instantly
- A minimum deposit of 25,000 Euros
- Personalised trading strategy
- A one on one trading tutor every week
- An Exclusive Position Access
But, Which Markets Can You Trade?
Once you have decided which account you want to start with and you’re all set up…
It’s time to decide which markets and assets you want to trade through 500.TRADE platform.
Analysing their website, it is clear they have an impressive amount of markets in which many different traders can operate in. Examples of where investors can trade include Forex, Commodities, Indices and finally Stocks. If you’re willing to trade Options, take a look at DEGIRO, and Cryptos read about 24Option.
This offers a variety of choices to traders as they can pick the perfect market that best suits their trading style.
500.TRADE also provides an in-depth overview of the different markets that they offer and allow for you as a trader to understand the different dynamics of that market.
What are the technical aspects?
After using 500.TRADE we feel that it offers the user a secure method to trade as this can be done, either through their phone, laptop or tablet. Which is also great for when you are on the go. This means you’ll never miss an opportunity to trade.
The platform fits traders of all experience levels, and is extremely easy to use, regardless of whether you are a new or experienced trader.
We found it easy to choose and find an asset to trade and was presented with a clear graph with a wide range of tools available, which is essential for individual traders to execute the perfect trade.
An important factor for users involves deposits, and this could not be easier with 500.TRADE, as there is the ability to do this through either VISA, MasterCard, and also e-wallets such as SEPA. They also allow payment through bitcoin or BPAY.
It is also clear that security is at the forefront of their mind, as they use similar software to major banks to give the best service for each trader.
Do they offer an education scheme?
500.Trade offers a robust learning program to help users improve, although this depends on whether you set up with a basic account or a platinum account. A basic account does, however, offer an education centre and daily analysts videos to help you improve.
This can be very helpful for new traders with limited funds as they can still get a meaningful learning experience. Although if you operate under a Gold or Platinum account, you will be given extra training that includes one on one tutoring and a higher level of account manager.
Do they have a good customer support?
They currently have reliable customer support that offers assistance from Monday to Friday and can be contacted via email, phone or an online web form that takes minutes to send.
Through experience, it is clear they are very responsive and offer excellent customer support to help their traders.
So what are my final thoughts?
In my opinion, I have found 500.TRADE to be a great broker that is exceptionally secure, reliable, and they offer many educational benefits that can help you get to become the best trader possible.
To conclude, I would recommend 500.TRADE as I believe with all the benefits offered, it gives you the best stepping stone to achieving success in your trading career.