Overview of Group 500 Review:
With a random address that is claimed to be located in Geneva, Group 500 advertises itself to be the next big show stopper in the financial industry. The company claims to offer trade-in cryptocurrencies, forex, and indices among other tradable instruments. Due to an enormous flow of complaints against Group 500, we decided to investigate this potential scam broker and get to the bottom of the question of whether Group 500 is a scam or not. If you find this article helpful, make sure to share it with your loved ones to help them steer away from potential scam brokers. Read on to know further about Group 500.
About Group 500:
In this segment of the review, we will be specifically discussing all the demands, offers, and other red flags posed by Group 500.
Is Group 500 trying to steal your personal information?
When we tried to register for a trader’s account with this supposedly best company, Group 500 asked for scanned copies of the front side and backside of the trader’s credit card or debit card to attest their identity. However bizarre this might sound, Group 500 is clearly up to something suspicious when they are asking for personal information from the traders in the name of identity verification.
Does Group 500 have a regulation?
Amidst claiming a lot many things, Group 500 seems to have completely forgotten about the regulation that brokers need to have while operating in the trade market. Group 500 has not mentioned any kind of license that they possess on their website. When we cross-checked with the top-tier regulators, it was clear that Group 500 is UNREGULATED. Trading with an unregulated broker is not recommended as there is no security of your funds.
Has Group 500 been blacklisted by any regulator?
Yes, Group 500 has been blacklisted by one of the top-tier Regulators from around the world. The Financial Conduct Authority or the FCA, a top-tier regulator that oversees the financial market in the UK recently issued a warning against Group 500. They warn their citizens from trading with this broker company and stated that Group 500 is an unauthorized firm.
What trading Platform does Group 500 offer?
When we talk about trading platforms, the first thing that comes to our minds must be MetaTrader 4 or MetaTrader 5 as they are the industry’s leading web software and are used by almost all the legitimate brokers in the market. In the case of Group 500, they have neither offered MetaTrader4 or MetaTrader5. Group 500 offers a very low-standard web platform that is basically good for nothing. This poses a red flag against the Group 500 scam in this review.
Does Group 500 ask for a Minimum Deposit?
Group 500 demands a minimum deposit of 250 USD for creating an account compared to the average of 10 USD. This is a huge number and definitely poses yet another red flag against Group 500.
Is Group 500 a scam or legit broker?
To sum up, all that has been stated above, Group 500 is a potential scam. We request our readers to be extremely careful while trading with Group 500. If you have been scammed by any of the scam brokers, file a complaint now and we will help you.
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