500Option Review

The binary options trade is a very competitive kind of trade that has attracted quite a number of traders who are flooding this market. As a consequence, it has created a wide pool of binary robots whose main intention is to tap into this expanding market base. Most traders are now spoilt for choice with which binary robot to trade with. The lucrative profits associated with these automated trading robots are a great motivating factor to many program developers in the industry. However, many such programs are developed for the sole purpose of purely enriching the developers at the expense of ignorant but willing traders. This has created a scenario in the market where you  find all sorts of programs consisting of  good programs, imitations and  pure scams.

500Option Review

This is a binary options broker that was established in 2014 and is solely owned by Donald Services Limited based in Sofia, Bulgaria. They employ the SpotOption trading platform which is commonly used by many brokers in the industry. This platform provides about six options of binary options and these include Long Term, Binary (High/Low), Pairs, Sixty Seconds, Ladder and One Touch options. The site is available in both English and Arabic languages. 500Option is estimated to have at least 200 total trading assets which include Commodities, Market Indexes, Stocks, Forex and Metals. At 500Options you can also trade in CFDs on Forex Pairs within the same platform. In order to open a new account with 500Option, you need to have a minimum deposit of 250 dollars. New account holders are rewarded with 5 risk free trades to familiarize themselves with the site.

500 option main page
500 option main page

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1Sounds great, where do I get a Binary Option Robot?
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2Open a Binary Option Robot Account
I recommend that serious traders, open a number of different accounts with the different Binary Option Robots, listed. The reason for this is simple: anyone with knowledge of the market understands that you must spread your risk over as wider area as possible, no matter how good the system, if you put all your eggs in one basket, you run the risk of losing everything. Thus, as with everything else, you should spread your risk over a number of Binary Option Robots, to maximise potential profit and prevent loss. Each one of the Binary Option Robot suggested in this article, has been rigorously tested, regulated, licenced and approved for the territories listed in the drop-down menu.
3Binary Option Robot – How they work in practise
Binary Option Robot

1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.

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2. The Binary Option Robot Will Predict the Price Movement

Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.

Binary Option Robot

3. Decide on how much you want to Invest

Then you need to decide how much you want to invest in the commodity and when that investment will expire.

Binary Option Robot

4. Collect your Earnings

Finally, you collect your earnings (the good part!)

It is for this reason that any trader, in this line of business, should make an effort to educate him/herself about binary options robots that she/he intends to trade with lest she/he falls into the trap of the crafty binary options software developers. Let us now see what 500Option has to offer.

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What does 500Option have to offer?

  1. The SpotOption trading platform – They offer one of the most popular trading platforms in the industry so far. Their SpotOption trading platform is one of the latest versions in the market and goes by the name of SpotOption 2.0. This broker features the standard trading options of High/Low, Forex Pairs, Speed Trading, Money Ladder, One Touch and Long-term Trading with returns of about 71% on the Gold options. Also featured are the 60 Seconds options, 2 Minutes options and the 5 Minutes options.
  2. Assets – It is estimated to have at least 200 assets in form of Commodities, Stocks, Market Indexes, Forex and Metals.
  3. Educational materials – They have a wide array of educational materials which are very useful especially when it comes to information on how the binary options market operates. It also features quite a number of eBooks and videos.
  4. Mobile app – 500Option has a very nice mobile application which enables traders to trade even when they are on the go. Their application can easily be accessed from Apple’s App Store or Google Play Store. This site has also has Face book page.

500Options Features

This is a broker that features a variety of trading styles specifically targeted to the special needs of each trader. It has four trading accounts that offer great benefits and other essential features. These accounts are specifically focused on the different needs of different traders and which offer them relevance. These accounts include:

  • 500Option Micro Account – This account was specifically created with new account holders in mind. It is a low risk exposure account with very small deposit investments. It also features a welcome bonus at the initial deposit and additional bonuses each time a new deposit is made. Educational tools and trading guides are provided to the Micro account holders.
  • 500Option Silver Account – This is an account that is well known for launching traders into their binary option trading careers. The account allows full access to 500Option’s website and offers basic services like market reviews, educational materials and daily recommendations. It has a 100% welcome bonus on initial deposit, daily trading signals, eBooks and access to objective analysts.
  • 500Option Gold Account – It helps traders to grow and also to fully develop their trading skills. Traders here are entitled to three daily trading signals including  one-on-one training sessions, customer support, educational classes and access to an account manager.
  • 500Option VIP Account – This account offers all the combined features of the silver and gold accounts and gives one the leeway to trade as a real professional. It features personal trading analysts with higher levels of support which affords one the privileges of a VIP treatment.

500Options has also incorporated the fast emerging Islamic accounts that are specially tailored for traders who have an inclination to religious rules that are provided by Shiba, Musharak and Riba. These Islamic accounts are modified and they don’t attract any interests.

500 option features
500 option features

Banking

500Option banking services are in line with standard practice of most binary options brokers. They offer safe and secure banking services to traders and investors trading on their platform. The investor’s banking information and data are highly secured and affords traders the privacy that they deserve. Their systems are up to date and use a multi-layer type of system which ensures that their customer’s data is highly secured and at the same time easily accessible to the customer. They employ the use of identity recognition software which makes it easier for the traders to trade without any hitches and also provide security for such transactions. Also incorporated into their banking system is the SSL system which is widely recognized in the binary options industry as a very secure system that gives customers the peace of mind regarding their financial activities and information while trading.

Deposits

500Options allows traders to make deposits using the usual and standard methods that include the use of credit cards. Many brokers use credit cards and it is a standard practice across the whole binary options industry. Among the credit cards that are accepted by 500Option include Maestro, Visa, MasterCard, American Express and all the others. They also accept deposits by the use of wire transfer and other eWallet methods. Other deposit methods that are available here include SafePay, Netter and Skrill.

Withdrawals

500Option promises easy and fast withdrawals that can be done anytime. A trader is required to log into the system and use the available Quick links to make a withdrawal request stating the withdrawal amount that is then sent for approval and thereafter the amount is sent to the investor’s bank account after fulfilling all the withdrawal requirements.

However, 500Option withdrawal policies especially for bonuses are also very strict. The methods used for withdrawals are similar to those used for depositing with stringent identification policies before any withdrawals can be made. The long delays that are associated with the withdrawal process act as a repulsive feature to any trader that is willing to trade with this broker.

500Option Promises vs. Reality

Many brokers use marketing strategies to attract traders to their platforms and 500Option is no exception. When one checks out their website, there is the promise of hefty bonuses including fast and efficient withdrawals but that is not usually the case on the ground. This can be attested by many disgruntled traders who had to undergo the rigorous withdrawal procedures that leave a very negative impression about its operations. Their withdrawal terms and conditions of 30 times the bonus deposit is actually self-defeatist.

500Option has been giving traders the assurance that they are a team of professionals and that they are quality brokers of repute but many traders lack the confidence in them owing to the fact that they are relatively new in the industry and that does not count much for experience. Some would even ask themselves why this broker is not licensed and yet they claim to be a brokerage firm of repute. These glaring disparities are only evident once a trader deals with them but to the uninitiated all seems so rosy.

500 options best
500 options being the best

Shortcomings of 500Option

Being a relatively new broker in the binary option trade does not give 500Option any advantage because of the trust factor. Many traders prefer to trade with brokers of repute and who have experience in the binary options trade. Although they seem to be quite accountable and transparent, many traders are highly suspicious because of the number of the scams that are associated with this type of business. On this end, 500Option needs to prove themselves by providing the best services possible that will lead to positive trader’s reviews. There are some areas though that 500Options need to improve upon and among them are;

  1. Their absence in the US market – Currently 500Option does not deal with traders from the US market and this is a major shortcoming as many binary options traders are based in the US. This is a big minus because there is so much money to be made in the American market.
  2. Licensing and regulation – 500Option is an unlicensed broker and this makes it stand on shaky grounds because of credibility issues. Most traders would like to trade with reputable and licensed brokers and would quickly ignore those that are not licensed for obvious reasons. This is something that 500Option need to move with speed to rectify because their reputation is hanging in the balance. The binary options market standards require that brokers to have a license from a trusted Cypress Securities Exchange Commission (CySEC) which goes a long way in legitimizing a broker dealing in binary options.
  3. Withdrawal policy – The most disliked aspect of this broker is its withdrawal policy especially for bonuses and the processing time needed to effect a withdrawal. Their requirements of document production to ascertain identity when withdrawing and the long wait a trader must go through does not augur well with most investors. The fact that one can not withdraw his/her bonuses until it is 30x the original bonus, takes away the usefulness of such bonuses. This makes it very difficult to actually benefit from the bonuses when you need them.

Most brokers would gladly offer same day withdrawal services and this makes 500Option very weak in terms of its competitive nature. It cannot compete with such brokers. A feature which might be of concern to most traders is the 500 Option Withdrawal and Bonus Terms and Conditions. Investors are required to provide identification documents before initiating any withdrawals. Once this is done, the withdrawal process can take up to 3 business days and this is something that is very discouraging to traders who need faster and more efficient withdrawal services.

  1. Customer support – For a broker who really wants to turn global, it is imperative to relate with your customers and this has to be in a language that they understand. Although 500Option operates in most English speaking countries and the Middle East, it needs to employ more languages into its operations in order to encompass many other nationalities that are not English or Arabic speaking and who are willing to trade on their platform. It will be good to see languages like German, French and even Spanish on their trading platform.

Conclusion

It is common knowledge that any broker in the binary option industry has some weak points in one way or the other. However, the disadvantages should not exceed the advantages because it leads to lack of trust in the firm in question. 500Option can be ranked as an average and upcoming player in the industry and as such they need to really make their presence felt in the industry.

For binary options traders who really want to make it big in this industry, then adopting the use of the most popular and widely trusted auto-trader, the Binary Option Robot software, is the best decision one can make. This software will go a long way in guaranteeing the safety and security of any trader’s money and provide a peace of mind. The robot has been positively reviewed by many traders attesting to the fact that this particular robot is actually superior. Signing up to the Binary Option Software is free and this will provide you with an array of benefits that no robot can ever give you. You are guaranteed of limiting your losses especially with the Automatic Stop Loss program which is an exclusive Binary Option Robot feature. You are also able to choose your own personal broker from among a wide selection of reputable and experienced brokers that have been refined by the Binary Option Robot’s stringent tests.

Get a trusted binary option robot for free by clicking on the button below and learn how you can make money while you sleep!

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Author: Michael Allen

Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.