Since this brokers official site is not accessible at the time of writing this introduction, only a cursory understanding can be obtained from other related reviews.
General Information & Regulation
Group 500 is allegedly a forex broker that provides its customers with web-based trading platforms and different classes of trading assets. It also claims that it offers up to 1:300 leverage, competitive spreads and a choice of five customized account types.
Market Instruments
Group 500 advertises that it offers some trading instruments, which include cryptocurrencies, forex and indices.
Account Types
There are five live trading accounts provided by Group 500, namely Silver, Gold, Platinum, Signature and Vip, with minimum deposit requirements of $10,000, $25,000, $50,000, $250,000 and $1000,000 separately.
Leverage
Group 500 claims to offer leverage as high as 1:300, yet this leverage ratio cannot be adjusted according to your preferences and we have no way to verify if it is true. Attention that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
The spread of the EUR/USD floats around 5 pips. More specific information about spreads and commissions are not available.
Trading Platform Available
Group 500 doesnt give traders the well-known trading platforms like MetaTrader4 and MetaTrader5, instead, the only available is a web-based trading software. However, it lacks the automated trading capabilities of Metatrader, as well as most of its more basic features such as most of its graphical tools.
Deposit & Withdrawal
Group 500 accepts payment methods via Credit/Debit cards and Wire Transfers. The minimum deposit is said to be $250, but at the same time, their minimum deposit for the entry account is said to be $10 000 on their Home page. While the minimum withdrawal is said to be $100 for Credit/Debit cards and $500 for Wire transfers. Please note that if you want to withdraw funds from an account that has been leveraged, you will be required to execute a minimum trading volume of (Deposit+Capital leverage) ×25. The withdrawal usually will be processed within 4-7 days.
Fees
For the dormant account, Group-500 will, from time to time, impose unspecified fees on accounts that are executing low volumes, yet it acts entirely on its own discretion to determine whether the account is inactive or not.
Customer Support
Group-500s customer support can be reached through email: support@group-500.com. Company address: Route de Meyrin 49 1203 Geneva.
