Broker Name: 500pips
Broker Type: CFD, Forex & Crypto
Operating since year: 2020
Broker status: Active
Phone: Luxemburg: +35220204283
Email: [email protected]
Platform Time zone: /
Demo account: Yes
Mobile trading: Yes
Web-based trading: Yes
Other trading instruments: Indices, Stocks
Minimum deposit ($): $250
Maximal leverage: 1:500
Scalping allowed: N/A
500pips Review: The broker that fits both beginners and veterans
500pips Review: General Information
500pips is a new broker that’s aiming to make an impact on the online finance company market. The firm primarily focuses on providing its users with complete forex and CFD trading experience. However, it still offers trading on a variety of different assets, including stocks and indices. It’s a branch of Pepper Group LLC, a Chicago marketing organization. In our 500pips review, we’ll present a clear image of the broker and help you decide if it’s the right one for you.
500pips’ landing page makes the atmosphere it wants to create quite apparent. It has an elegant, professional look that’s somewhat minimalistic. That means there are few popups, and as such, the website maintains a clean appearance. The broker also ensured that its website was quick and fully functional to back up the sleek look. As such, the transitions between the pages are smooth, and there’s no stuttering or lag.
That creates a pleasant browsing experience, which is quite essential when researching a broker. Furthermore, its website does a fantastic job at handing you the info you need without overloading you. You can easily find out everything about the broker from their website without relying on 3rd party sources. That demonstrates integrity and pride in its service.
The broker leaves a positive first impression. However, we need to go beyond that in our 500pips.net review. Before we look at other aspects of the broker’s service, we’d like to present our favorite 500pips qualities:
A common trick scam brokers employ misleading users about the pricing of their services. That can range from overly complex pricing schemes to outright hiding specific fees or commissions. However, with 500pips.net, you can be confident that what you see is what you get. The broker offers a transparent pricing model and earns its money via spreads instead of fees. As such, the average trader’s service cost is much lower, increasing the value of each dollar you decide to invest.
Detailed Asset Index
Another nifty feature of 500pips is how it lists out its assets. Namely, it gives you all the info you need to decide whether it’s the right broker for you. It displays all of its assets in a concise list – which many brokers already skip out on. However, it goes even beyond giving you a detailed description of any individual asset you wish to learn about. That includes the spreads, leverage, and an up-to-date graph of the asset’s movement.
Like the previous thing we mentioned, the broker ensures its users know what they’re getting with their accounts. The broker has a detailed list of the features each account has, already beating less serious competitors. On top of that, it also explains each feature right there on the accounts page. That means even those that aren’t too confident with trading terminology can comprehend what they’re receiving. As such, the broker broadens its area of service, presenting itself as an excellent beginner choice.
500pips Review: Funds Trading and Security
Security is one of the primary concerns when using an online service. That’s especially true for brokers since there are usually significant amounts of money involved with them. As such, our 500pips review wouldn’t be complete without mentioning its security measures. Luckily, the broker does quite well in that regard, and we’ll explain why.
500pips.net has a solid set of technical trading security measures, such as encryption. The top-grade encryption stops hackers from intercepting your data, meaning you’re safe from outside attacks. Furthermore, the broker has a clause ensuring it won’t share data with third parties. That’s become increasingly common with brokers as a quick and effortless way to boost earnings. Lastly, the broker keeps company and user funds segregated, meaning your money is safe even if 500pips goes under.
However, you can’t exclusively look at objective safety measures, as counterintuitive as that may sound. Namely, the subjective qualities are often the more precise indicator of a broker’s features. And we’re glad to say that 500pips.net has left quite a positive impression on its users, as well as reviewers. Although it hasn’t been around for too long, the broker seems to enjoy a great reputation.
Lastly, there are also some tertiary conditions to look at. Those include 500pips being part of a much larger firm and its transparency in all service areas. All of that together makes us value the broker’s security highly.
500pips Review of The Trading Accounts
500pips’ account page was one of the things we mentioned as their main advantage. As such, we’ll stick to explaining the individual accounts in this section, as not to repeat ourselves. There are six types of live accounts as a part of 500pips’ service. Each of them follows a tier-based structure. To move up, you need to invest a certain amount.
The last statement is untrue for the last, Black, account, as that one is invite-only. To achieve it, you’d need to talk to your account manager. As for the others, they’re pretty cheap considering the service level they provide. The first account aims at budget users but is still quite competent, but as you move up, they become more luxurious. It’s worth noting that the “luxury” accounts are much cheaper than with other brokerages.
As such, even if you’re a midrange investor, you might get premium treatment. That creates a situation where no account is wrong, no matter your preferences. To aid you in your choice, here are some account specifications:
20% Welcome Bonus
40% Welcome Bonus
Account Manager: Junior
60% Welcome Bonus
Account Manager: Senior
80% Welcome Bonus
Account Manager: VIP
Pia-First Signals: Gold Signals
Personalized Trading Strategy
100% Welcome Bonus
Account Manager: VIP
Pia-First Signals: Platinum Signals
Personalized Trading Strategy
1-on-1 Trading Trainer
Exclusive Positions Access
Only for Exclusive Clients
Information via Account Manager
500pips Review of Trading Conditions
While other areas of 500pips.net’s service are competent, they’d fall apart without a trading backbone. Luckily, the broker’s trading ties together other aspects of its service, creating a competent company. The spreads are competitive, minimizing the cost of trading for customers. That means your money is worth more compared to brokers with wider spreads or higher fees.
Furthermore, the leverage is high, shifting between each asset. With the way the broker set up its leverage, it remains high across the board. However, it’s not too high, which would lead to traders getting too eager—cases where traders overuse leverage are plentiful, which is why we prefer moderate levels.
The broker also boasts a variety of accounts where each one is of great value for their price. Their platform is also top-notch, while the asset list is quite broad. As such, 500pips provides users with a trading experience that can compete with the best.
500pips Review of Trading Platform
500pips provides users with a competent proprietary platform that makes trading easy while maintaining complex features. The platform is another part of the broker’s service that binds beginners and experts together. That means the brokerage can thrive as a universal company that can please traders no matter their skills or experience. The platform is also available in web and mobile forms, increasing its accessibility and convenience.
500pips’ Trading Products
As we mentioned multiple times throughout our 500pips.net review, its assets are among its primary strengths. Not only is the asset window quite detailed and thorough, but it holds a lot of trading products. As such, traders are likely to find what they’re looking for as far as trading instruments go. Here are the asset groups you can expect to see with 500pips:
500pips Review of Customer Service
The broker’s customer service representatives are quite quick and responsive. That results in a positive experience across the board, as they’ll make sure to resolve any issue quickly. The operatives work 24/6, which is a day longer than most other brokerages, increasing their overall efficiency. The support is available via email, phone, or simply the integrated live chat feature on 500pips.net.
500pips has shown itself to be an incredibly capable brokerage despite its young age. No matter where you look, it’s challenging to spot a clear weakness with the broker. It has a massive and detailed asset count with high leverage and spreads. All that creates a wonderful trading experience, which you can then execute via its excellent platform.
And if you’re worried you’re not good enough, you shouldn’t be, as the broker is a great fit for both beginners and veterans. It aids beginners in every step of their journey, providing detailed explanations and great budget options. An example of that is the 500pips.net account page, providing complete clarity.
The clarity also makes us feel more secure with the broker, as it demonstrates integrity. That pair with the rest of its security features creates one of the few truly safe brokerage experiences online. And with that, 500pips truly rounded their service, covering any possible issues.
It’s apparent from our 500pips review that we liked the broker quite a bit. As such, we’d recommend giving it a go.