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500option Review

500option
Min. Deposit: $250
Min. Investment: $5
Max Returns: 77%
Rating: Rated with 4.5 stars
Regulated Broker: Not available
Signals: Yes
  1. 500option

    500option General Info

    We decided to review this broker and present it to our South African readers due to a variety of benefits available on 500option trading platform.

    500option is a relatively new binary broker, present on South African market since 2014. This brokerage company is owned and managed by Donald Services Ltd.

    Below in our 500option review, we will provide detailed data regarding binary trading process and available trading instruments for traders who join their platform.

     

    500option Trading Platform

    During 500option review, we learnt that they use SpotOption as its software. This is popular and widespread software provider who practices highly developed solutions for online trading business. 500option platform is easy to use and offers simple navigation that is adjusted for both professional and inexperienced traders.

    To begin trading binary options with 500option, minimum deposit is $250, while maximum bonus traders might achieve is up to unlimited. 500option minimum investment is $5 and maximum investment is $2500. Highest maximum return is 77% and traders are able to trade with USD, EUR and GBP.

    500option Trading Features

    logo-500optionAs mentioned previously in 500option review, South African traders can invest in different trade options, such as High/Low, 60 Seconds, One Touch, Pair Options, Ladder Options, Long Term and SpotFollow.

    We have to mention SpotFollow as the latest popular feature, popular among traders in binary industry. With this trade option, it is possible to follow trades that are done by professional traders and copy their trades. This is widespread among traders beginners mostly thanks to such advantage.

    Available expiry times on 500option platform are: 60 s, 2 min, 5 min, 15 min, 30 min, 24 hr +, end of day and end of week. With 500option, South Africans can trade with more than 90 assets, which include stocks, currencies, commodities and indices. On Asset Index under Education Center tab, traders can find whole list of available underlying assets to invest in while trading with this broker.

    In our 500option review, we didn’t notice services, such as mobile app or demo account that are implemented on trading platform, at least not now. We hope that they will come soon because of benefits they carry for traders. Ability to practice and improve trading skills and simplicity to trade from anywhere can be very convenient for South African traders.

    Regarding other trading features, 500option offers lucrative bonuses for South Africans if they decide to accept them. To be eligible to withdraw funds, traders first have to execute 30x turnover. For more details on 500option bonus, we recommend to read terms & conditions.

    500option Account Types

    This broker offer 5 account types for traders to invest in, including Islamic account. These accounts are designed for both traders beginners and professional traders with years of experience.

    For more on Islamic account characteristics, read below in 500option review.

    500option Micro Account

    • welcome bonus
    • more bonuses for redeposit done
    • daily and weekly market news
    • education materials
    • access to trading guides

    500option Silver Account

    • 100% welcome bonus
    • more bonuses for redeposit done
    • full access to market reviews and analysis
    • possibility to receive binary signals
    • education materials
    • access to trading guides

    500option Gold Account

    • full access to market reviews and analysis
    • 3 binary signals per day
    • direct contact with personal Account Manager
    • priority access to customer support agent
    • full access to education materials and trading guides

    500option VIP Account

    • additional extra benefits than with Gold account
    • direct line to personal Trading Analysis

    As seen above in 500option review, this broker offers also Islamic account to Muslim traders to trade binary options interest free.

    Islamic account has to correspond to several criteria:

    • No Riba policy – ability to maintain open positions for unspecified time period without being charged with a fee.
    • Donation or Gift – possibility to donate, approved by this broker, in exchange for loans
    • Musharaka or Joint Venture – Muslim traders can activate joint venture with other traders with goal to allocate earnings and losses in a predetermined period of time.

    500option Customer Support

    logo-500option500option review showed us how this broker has really good customer support service. It is possible to contact 500option through several ways, via email [email protected], live chat, web form and phone (UK, Cyprus, Belize, Canada and Bahrain).

    500option customer suport is available for South African traders 24/7, which is excellent for their traders worldwwide.

    They offer trading platform on two languages, English and Arabic. We had pleasant experience via live chat and their customer agent was present within several seconds and answered our questions regarding 500option platform.

    Once registered, traders can check Education Center and use trading tips and guides in order to perform their trades better and to maximize profit from binary options trading. Under FAQs, traders can check different topics covered for successful binary trading experience.

    500option Banking Info

    Performing payment transactions with 500option is easy and safe, thanks to SSL security system. With SSL technology, all traders’ data are encrypted and well protected.

    To deposit with this broker, traders have to go on Deposit tab and choose preferred deposit method. Minimum deposit amount is $250 (for bank wire $500) and after clicking on Apply button, South Africans can start trading.

    500option broker offers different methods to deposit and withdraw funds:

    • debit/credit cards – Maestro, Mastercard, Visa and Carte Bleue
    • bank transfer
    • e wallets – CashU, Neteller, InPay and UPay

    Traders who want to withdraw funds from trading account, first have to submit withdrawal request, with several documents included. Those who want to use credit cards, should sent cardholder name and copy of credit cards with the last 4 digits.

    For withdrawals via ewallet, we advise to contact personal account manager, while for bank transfer, traders need to provide SWIFT and IBAN.

    All documents should be sent to 500option on email [email protected]. Once received, it takes up to 5 business days for broker to approve this request and extra 7-10 days until funds arrive on traders’ account.

    Minimum withdrawal amount is $100 and it can be done after withdrawal request is approved.