Option500 is definitely not your long-term partner. Instead, it just wants to make money on imprudent or inexperienced traders. In this Option500 review we are going to develop our viewpoint on the following aspects:
- Website Overview
- Registration and Welcome Promotions
- Trading Conditions
- Customer Support
- Payment terms
Option500 Scam Regulation
Usually, scam brokers in the industry have one pitfall in common – the absence of regulation. As you might have guessed, Option500 is an unregulated brokerage company. Instead of a license, the broker shows some fake awards to prove its credibility.
Option500 Website Overview
When you enter the website, you start to think that Option500 has stolen the design from somewhere. In order to look more professional, Option500 binary broker has literally duplicated the design of Bloomberg. The website is cluttered up with a lot of information, which could be easily presented in FAQ. In turn, FAQ contains almost nothing relevant for the user.
Opening an Account
The account can be opened almost immediately, because Option500 does not request much data to provide. Additionally, there is no need for account verification.
Is Option500 safe? Although Option500 claims to offer SSL encryption on its website, this is not true. Additionally, the broker does not segregate funds, so it is better to stay away from depositing a single penny.
The deposit is needed to access trading after the account is opened. The minimum deposit requirement is $250. You can see the payment methods at the image below:
Option500 Scam Promotions
From time to time, Option500 offers different bonuses to its clients. Option500 bonus right now is the 100% deposit bonus.
There are only 50 assets to trade. In comparison to its competitors, the number of Option500 tradable assets is extremely small. They incorporate commodities, indices, stocks and currencies. As for the binary trading types, there are only 4 of them – High/Low, 60 Seconds, Pairs and so-called StrategiX. Option500.com scam offers 2 platforms to trade options, i.e. Option500 web-platform and TradeSmarter.
Let’s explain what is StrategiX. StrategiX provides an access to four binary trading types at a time. These types are Above and Below options, Range options, Touch options and No touch options. The drawback of StrategiX is that it only supports 7 assets – 6 currency pairs and Gold.
Customer support at Option500 scam is available only in English. To reach it, you can use a phone, live chat or email. Support agents are supposed to be accessible 24/5.
In order to apply a withdrawal request, you have to upload the copy of your ID or any equivalent document. The transfer methods here are wire transfers, credit/debit cards, Skrill and Neteller. As one of the honest Option500 reviews, we do not recommend to sign up or deposit any money.