There are a lot of scams in the Binary Options Market these days. Want to know if Option500 Scam claims are tru? Read in our full review!
Min. Deposit: $250
Trading Platform: TradeSmarter
US Clients: Not Available
This broker is scam! Sign up with 24options instead!
The first thing to mention about Option500 scam is its very confusing legal background. The broker was frequently changing the location of its headquarters. For example, the website tells that Option500 is a brokerage firm located in Scotland. Other sources confirm that Option500 is permanently based in London, England. In fact, both of these addresses might be wrong, because Option500 is a scam.
Secondly, Option500 in the past claimed to have a license from CySEC. This information is no longer valid and no information about regulation is stated on the website. Is Option500 safe? Unfortunately, it is not.
Option500 Scam Account Registration
At Option500 it is allowed to open only one real trading account. The account setup does not take a lot of time. After the forms are filled in, the broker asks to deposit $250 in order to access binary options trading.
There is an Option500 bonus available after the account is opened. It is the welcome deposit bonus that doubles the size of the initial deposit made.
Option500 Review of the Trading Software
When exploring Option500.com scam website, we have encountered two trading platforms.
The first one is called TradeSmarter. It is the main platform for binary options trading. Tradesmarter provides a trader only with the following trade types:
- 60 Sec or Turbo options
Another disappointment is a very limited pool of tradable assets. Notwithstanding that Option500 claims to offer the best trading experience ever, there are only around 60 assets available according to our research for this Option500 review.
The second platform is their proprietary trading software, which is basically much the same as TradeSmarter. The only distinction is the possibility of mirror trading. In addition, this platform can be launched on iOS and Android mobile devices.
Option500 Reviews: Education
The educational section is probably the only positive thing at this broker. The website offers a wide range of tutorial videos about options trading and provides the guide to using the platforms. E-books available for free download might come handy as well. The glossary is not that good however.
The only serious pitfall of Option500 trading education is the absence of a virtual trading account.
Despite relatively good education, the quality of customer support is rather low. Support is not multilingual, though the website operates in 4 different languages. Another issue is that agents can provide some assistance only on the basic level. Client support at Option500 binary broker can be reached via email, phone and live chat.
Funds withdrawals can be made using credit/debit cards, bank transfers, Neteller and Skrill. There is no minimum or maximum amount required for making a withdrawal.
Option500 Scam Review Conclusion
This broker is definitely a scam. We recommend you not to trade with Option500 Scam!
Open an Account with 24option instead