Group 500 Review
Have you been thinking about establishing a career in the financial world? The financial landscape is diverse and there are plenty of options you can explore, but one that has a lot of potential and flexibility is none other than trading. Who doesn’t want to be their own boss and have the chance to make millions in half the time it would take you with a regular job? Online trading presents people with this golden opportunity and this is perhaps the best time to take advantage of it. Why? This is because the online trading world is at its peak right now; there are tons of instruments that can be traded in the market and lots of advancements taking place.
Most importantly, trading has become easily accessible for everyone, thanks to the internet, and you don’t really need to fulfill any mandatory requirements to begin. You can decide how much to invest, which instrument to trade and the strategy to use. This kind of freedom will rarely be seen in other careers and this has prompted an influx of traders in the financial markets. Nonetheless, you shouldn’t forget that every good thing also comes with a challenge and this also applies to trading.
If you are interested in reaping the benefits that online trading has to offer, right from the comfort of your home, then you have to make some choices. The most important one that you need to make is choosing an online broker. Yes, you need a broker to start trading and you will find a sea of online brokers nowadays. You have to dive in and fish out the broker you believe will be the right fit for you. This is easier said than done because that many options can often overwhelm traders, particularly if they don’t know exactly what to consider.
The increase in online brokers’ means there is fierce competition amongst them and they will make some very tall claims to appear different from the rest. It can confuse just about anyone and you might end up choosing a broker that may not be able to live up to the claims they have made. This can waste your time, get your investment in trouble and frustrate you in the long-run. Thus, it is better to do your homework in the first go and find the right broker to avoid all this hassle altogether.
You will have to consider the different aspects of a broker in order to determine if they measure up or are just trying to lure you in. This also needs to be done in the case of Group 500, a broker that has been around for a few years. Based in Zurich, Switzerland, Group 500 claims to provide its clients a platform for trading a variety of instruments. They also support CFD (Contract for Difference) trading, which means you don’t have to purchase the asset physically and can simply trade contracts based on its price movements. This kind of trading offers the potential of high profits, which has made it quite popular.
Group 500 at a Glance
|Trading Accounts||Silver account, Gold account, Platinum account, Signature account and VIP account|
|Assets Coverage||Forex, Futures, Commodities, Stocks, Indices and Cryptocurrencies|
|Trading Tools||Forex Signals, Spread and Trading Hours and Trade Glossary|
|Education and Training||Yes|
|Customer Support||24/6 via email and phone|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering) policies|
|Parent Company||Group 500|
One important thing that people should know about Group 500 is that it is an STP (Straight Through Processing) broker, which means they will not have a conflict of interest with the trader. In addition, this broker is providing its services to global traders, no matter their background. They have not designed their services for a specific class of traders and have ensured that whether you are a newbie or a seasoned traders, you will have access to what you need. Nonetheless, it is still necessary to take a look at their offerings before anything can be determined.
Trading Instruments at Group 500
The first thing that you need to look into any broker is the trading instruments they are offering to their clients. There is a possibility that you may want to trade an instrument in particular and this will help in ensuring that you can do so when you opt for the broker in question. Moreover, having some variety in terms of instruments is also reassuring because it allows you to diversify your portfolio, which in turn reduces your losses and maximizes your profits. This is what you will find when you opt for Group 500 as they have more than 450 trading instruments available for their clients. These are spread out over different categories and you can easily find the ones you want to trade. Some of the options include:
Also referred to as shares, stocks are one of the popular trading instruments because they can give solid returns to traders. Group 500 is aware of how much value they can offer and so, the broker has added the stocks of some of the top companies in the world, such as Apple, Google and Intel. You can trade stocks of international companies and do it while enjoying excellent spreads and leverages that can help you maximize their potential.
If you don’t want to trade individual stocks of companies, you can go for indices that refer to the collective value of a number of companies representing a country or continent. You can make trades on whether the collective value of an index will go up or down and profit from these movements. At Group 500, traders are given the opportunity of investing in some of the top indices in the world, such as S&P 500, NASDAQ, DOW JONES and FTSE.
A broad selection of Futures are made available to traders on Group 500, something that not many brokers can claim to offer to you. The futures portfolio comprises of bonds, metals, currency pairs and many other offerings. These are basically contracts and you can speculate and indulge in hedging by opting to trade futures.
Recognized as one of the biggest financial markets in the world, the forex market is highly volatile and has hundreds of opportunities to offer to traders who are interested in making massive profits. The market is operating 24 hours a day and has a trading volume of more than $5 trillion per day. There are plenty of currency pairs that can be traded at Group 500, which fall into different categories like major pairs, minor pairs and also exotic pairs. Some of these include EUR/USD, GBP/USD, USD/JPY, AUD/USD and USD/CHF.
Traders who are looking for less volatile trading opportunities, yet want to make profits can go with commodities. There are a huge number of commodities that you will find on the Group 500 trading platform and they are a combination of soft and hard commodities. The former refers to natural resources like wheat, rice, cotton and other agricultural products. As far as hard commodities are concerned, these include precious metals like gold and silver, along with energy products like natural gas and oil, which have a consistent demand thereby resulting in solid profits.
Perhaps, one of the most talked about trading instruments that you will come across these days is none other than cryptocurrency. The first crypto, known as Bitcoin, was introduced in 2009, but they really hit their stride in 2017 and haven’t looked back ever since. In fact, cryptocurrencies are one of the highly demanded instruments and so, Group 500 has added them to its offerings. You can trade some notable names like Bitcoin, Litecoin, Ethereum and Bitcoin Cash on their platform.
Trading Platforms at Group 500
One of the most vital aspects of any brokerage is their trading platform. After all, it is the primary feature they offer, which is crucial to the trading process. You cannot trade without a trading platform because it connects you to the market, lets you execute your trades and is equipped with tools that help during the process. The trading platform that will be offered to traders is at the broker’s discretion and they can choose to develop their own or offer one of the already-existing ones. Group 500 has added several options to facilitate their clients as much as possible. Take a look at the choices:
- MetaTrader 4
First and foremost, Group 500 has added the top trading platform in the market to their offerings. The MT4 trading platform is world renowned and a favorite of global traders because it is powered by cutting-edge technology and provides access to some of the top trading tools that traders need. The platform is user-friendly and is constantly being upgraded to improve user-experience as much as possible. It offers trade execution in just one click, can send you notifications on your phone and can be downloaded within seconds on your chosen device.
Also known as Group 500 Online Trader, the web trader is has been developed by the broker to simplify the trading process for their clients and to give them a great deal of flexibility. This particular trading platform doesn’t require any downloads or installation on your part; you can access it directly through the broker’s website. However, this doesn’t mean that it doesn’t provide you with the right technology or tools. On the contrary, the Group 500 Online Trader is a secure platform that supports automated trading, instant trade execution, provides advanced charts and slippage protection to the traders. You can be 100% involved in your trading activities and can access this trading platform on any device that supports a web browser.
- Mobile Apps
Last, but certainly not the least, you can also download mobile trading applications that have been added by Group 500 for both Android and iOS systems. You can have access to your trading accounts anywhere and everywhere, regardless of time. The apps allow you to handle all your trades in a single click and they are very intuitive and easy to use. You can stay updated on all the happenings in the market and not miss out on any opportunities.
Registration and Account Opening at Group 500
There is a registration procedure that has to be completed in order to open an account with a broker. You cannot use their services without an account, so it is essential to register and then opt for an account. The problem is that some brokers tend to make these procedures lengthy and complicated, which can be a turn off for many traders. As a matter of fact, some people tend to quit halfway because they are tired of the requirements. The good thing is that you will not have the same complaints with Group 500.
Their registration processes comprises of a short and simple form that you will find on their website when you click on the ‘Open Account’ option. It asks for your first name, last name and a password that you want to use for your account. In addition, you also have to choose your account currency, which can either be EUR or GBP. Here, the registration process is complete and Group 500 has no approval procedure in place, so you are registered right away. Now, you are finally ready to move onto the account selection part.
As stated earlier, Group 500 offers its services to traders of all backgrounds, regardless of how experienced they are. In order to accommodate them on their platform, they have come up with numerous account options that are designed keeping their needs in mind. You will find five account options offered by the broker and each of them is aimed at a unique category of traders. Let’s take a look at them:
- Silver account
The first option that you will come across on Group 500 is called the Silver account, one that has been designed for newbies with no experience in the market. The minimum deposit for this account is 10,000 GBP or EUR, depending on the account currency you have chosen. It provides access to a basic education center, one-on-one training, 24/7 customer service, trading news, 2 signals per month from the VIP trading desk and a 365 trading dashboard. The minimum and maximum trading sizes for this account are 0.01 lots and 100 lots, respectively.
- Gold account
The second account type that Group 500 has added to their platform is referred to as the Gold account, one that has been created for traders with some experience in the market. The deposit requirement is now increased to 25,000 and full education center access is granted. A personal account manager is also added for guidance and limited trading signals can also be received. The maximum trading size is adjusted to 500 lots and 10 signals per month are given from the VIP desk.
- Platinum account
Group 500 came up with the Platinum account option for catering to intermediate traders and this account can be opened with a minimum deposit of 50,000. Here, traders can now enjoy unlimited trading signals and they can tap into the expertise of a personal VIP account manager. Unlimited lots trading size is available and daily signals from the VIP desk are provided. Platinum account users also enjoy a trading algorithm and credit line for premium trading events. They don’t have to pay a withdrawal fee or commission and minimal trading fee is applicable.
- Signature account
To accommodate seasoned traders on their trading platform, Group 500 has come up with the Signature account option. The minimum deposit for this account is now set at 250,000 and it provides leverage of 1:300. Private banking is available to traders and they become members of a Traders Group Club. They receive up to 70% insured contracts and can have personal sessions with a market analyst. They also receive first priority for hedging strategies.
- VIP account
The last account option that traders will find on Group 500 is called the VIP account and this one is only reserved for professional and expert traders. The minimum deposit requirement for this account is 500,000, but you cannot sign up for it. This account is invitation only and there are certain requirements to be fulfilled to qualify for this account option. If you are interested, you can speak to your personal account manager and get the details.
Safety of Funds at Group 500
Trusting someone with your money is immensely difficult, but the fact is that trading requires money. If you want to use any broker’s trading services, you will have to deposit money with them. After all, it is one of the requirements to open an account; a minimum deposit is applicable. But, how can you be sure that your money will be in safe hands and will not be lost, stolen or otherwise compromised? This depends on the policies that a broker implements for safety of your funds. At Group 500, you can easily find details about what measures they have taken for protecting your deposits.
To start with, Group 500 follows the international regulatory standards of account segregation. This means that customers’ accounts are maintained separately and their funds are not mixed with that of the broker’s own. This ensures that your money will only be used for your trading activities and not for paying any of the broker’s obligations. Secondly, the broker has chosen cold storage to store your funds, which are not directly connected to their servers. This ensures that the funds cannot be accessed by any third-parties and no discrepancies can happen.
Security of Information at Group 500
While protecting your hard-earned money is important, it should not be your only priority. You also need to ensure that the information you entrust with a broker, including some personal and sensitive information, remains secure and out of the hands of third-parties or cybercriminals who may use it for any nefarious purpose. This can lead to a lot of trouble for you, so it is best to confirm that your chosen broker has proper security policies in place for minimizing these risks. Group 500 doesn’t disappoint in this regard. To protect your account, they have implemented two-factor authentication as it adds an extra layer of security.
They have also added the Universal 2nd Factor (U2F) authentication standard for security reasons. IP addresses are monitored to detect any change and they freeze your account instantly in case of any malicious activity. Group 500 has also used top-notch encryption for keeping all information safe, which also includes all email communications. They also backup their network regularly and offer protection from DDoS attacks as well. They have also used up-to-date systems for hosting their platforms, which reduce the risk of cyber breaches.
Most importantly, the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies are also implemented by the broker. Traders are asked to provide documents for verification to Group 500 and this is essential because it is a way for the broker to prevent any shady individuals from accessing their platform. These documents ask for proof of identity and proof of residence. To provide the former, you can submit your national ID card, passport or your driver’s license. You can give the latter by providing a utility bill or bank statement showing your name and address.
Apart from these features, Group 500 also offers a complete education section to their clients where lots of learning and guidance material is provided. The broker has also put in time and effort to develop a strong customer support department for assisting their clients. They have convenient banking solutions that make deposits and withdrawals easy and secure for the traders. You can also find a range of trading tools that can help in making better, smarter and more profitable trading decisions.
Algorithmic trading is another perk that traders can enjoy via this broker, which allows them to enjoy the feature of automated trading. This is great for those who don’t have any experience or knowledge of the trading market. Hence, Group 500 can turn out to be a right fit for a good trading experience.