Group 500 Review
Group 500 was established by a Seychelles-based company named 500 Solution Ltd. It is a platform that is providing its brokerage services for the trade of cryptocurrencies all over the globe. It helps its customers to trade CFDs, for which physical purchase of cryptocurrency is not required. Group 500 aims to provide a reliable, fair, and transparent trading environment. It does so by providing the latest tools and a responsive customer support service.
Is it reliable?
Security breaches are becoming common in the crypto market that is why traders are concerned about this problem. Group 500 is extremely careful about its client’s sensitive data and money. It uses encryption to secure clients’ data. The system it uses is up-to-date according to modern standards. It uses SSL, which is a Secure Socket Layer encryption system that minimizes security threats to the lowest. In addition, it uses policies that are approved by international regulatory authorities such as KYC (know your client) and AML (anti-money laundering). These policies bound the traders to provide proof of their identity as well as their address. In the light of AML policy, they are also required to present their bank statement to eliminate the risk of terrorist funding.
Trading Instruments
For those who want to trade cryptocurrencies, Group 500 is the most suitable choice because it allows them to choose from a long list of trading instruments. There are many trading platforms that offer the trade of famous digital currencies, but there are only a few which allow trading new coins as well. Along with famous cryptocurrencies such as Bitcoin, Ethereum, and Ripple Group 500 allows trading some newly launched but profitable altcoins as well. These altcoins include IOTA, NEM, BNB. The presence of multiple digital currencies to trade allows traders to spread their investment money in the market.
Registration process
Group 500 has kept the registration process simple so that it does not irritate the traders and also consumes less time. They do not ask for irrelevant details. After providing basic details and contact numbers, they ask to select a currency for withdrawals, such as Dollar or Euro. In the last step, it asks you to read and agree to the website’s terms and conditions, and then you are ready to go.
Various Trading Accounts
After successful completion of the registration process, the traders are asked to select an account type. Every trader is not a billionaire. That is why Group 500 has created five different types of accounts to categorize them. By categorizing them, the broker comes to know about the requirements of traders, and in this way, it is able to serve its clients in a better way. The five types of accounts being offered are Basic, Bronze, Silver, Gold, and Platinum accounts. Apart from these account types Group, 500 is also offering a unique account for its rich professional traders known as Black account.
Deposit and Withdrawal methods
For the convenience of traders, Group 500 accepts funds from different methods. The clients who want to use the most secure method use bank to bank wire transfer method, while those clients who like fast-paced transactions can use debit and credit cards for payments. Group 500 accepts a variety of cards such as Visa, Delta, and MasterCard. Not only it accepts cards, but it also accepts online payments through Skrill and Neteller for the comfort of clients.
Trading platform
The most important feature for a client is the trading environment which is provided through the platform. The market sometimes changes in a matter of seconds; if the opportunity is not availed at the right time, then loss becomes inevitable. This is why the role of the trading platform is vital. Group 500 keeps its clients up-to-date with the help of features such as economic calendars, price indicators, and drawings. The platform can be used on any device with any kind of browser.
Conclusion
If you don’t want to take unnecessary risks, then opt for Group 500 as your broker because it is the most trusted brokerage firm which provides amazing features. They do not take commission behind your back nor charge any hidden fee, which makes it the best broker for cryptocurrencies.