Score
Forex500
Hong Kong|2-5 years| https://www.forex500.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
Hong KongAccount Information
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Website
forex500.com
Server Location
United Kingdom
Website Domain Name
forex500.com
Server IP
5.134.13.239
Company Summary
Note: Forex500's official website - https://www.forex500.com/ is currently inaccessible normally.
| Forex500 Review Summary | |
| Founded | 2012 |
| Registered Country/Region | Hong Kong |
| Regulation | No regulation |
| Market Instruments | / |
| Demo Account | ❌ |
| Spread | From 3 pips (Basic account) |
| Leverage | Up to 1:400 |
| Trading Platform | / |
| Min Deposit | ￡100 |
| Customer Support | Tel: +44 1733 000 000 |
| Email: support@forex500.com | |
Forex500 Information
Forex500 is a Hong Kong-registered brokerage company who offers three types of trading accounts: namely Basic, Standard, and Professional, the minimum deposit to trade with this broker starting at £100.
Forex500 is the trading name of Forex500 Ltd, and this brokerage house does not hold any regulatory license to show it operates legally, which should raise your great attention and vigilance.
Pros and Cons
| Pros | Cons |
| Tiered accounts | Inaccessible website |
| No regulation | |
| No demo accounts | |
| Wide spreads | |
| Unclear payment methods |
Is Forex500 Legit?
Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of Forex500, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.
Account Type/Spread
| Account Type | Min Deposit | Spread |
| Basic | ￡100 | From 3 pips |
| Classic | ￡500 | From 1.5 pips |
| Professional | ￡5000 | From 0.7 pips |
Leverage
Forex500 offers varying leverage levels ranging from 1:100 to 1:400, which is significantly higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.
Since leverage can magnify gains as well as losses, it is wise for traders to use leverage prudently with proper risk management strategies.
| Account Type | Max Leverage |
| Basic | 1:100 |
| Classic | 1:200 |
| Professional | 1:400 |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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