500investments Review: 500 Investments Broker a Scam?
Welcome to the 500investments review.
500investments.com claims to offer over 1,000 assets for trading in the top global financial markets.
500 Investments is offering trading in Forex, Commodities, Stocks and Indices. The broker touts a number of benefits associated with using their service.
These include access to a trading mentor, account manager, technical support and premium webinars.
500investments even claims that their unique innovative trading platform offers customized charts and live data feed, desktop and mobile compatibility and a set of professional trading tools.
In addition to this, 500 Investments has created 5 different account types for their clients.
They’ve listed various features associated with individual account types. Minimum deposit is $250.
However, 500 Investments broker is running a trading platform called TraderSoft. We have never used this platform before.
However, we know that there’s a reason as to why most traders prefer the popular MT4 trading software as opposed to all the others in the market.
This broker touts TraderSoft platform on their website, claiming it offers fast execution, advanced reporting, risk management among other benefits.
There advantages are general in nature as we have not heard of anything that is out of the ordinary among the items listed in the benefits section.
This platform is supposedly going to optimize your trading experience with live charts, economic calendar, price alerts, risk management and trading signals.
Obviously this is an in-house trading platform and its programming language is not compatible with the best trading tools in the market.
While the offering of this broker is quite attractive, we feel that there are serious issues and concerns affecting this broker that need to be discussed.
First of all, they’re not regulated by any financial watchdog and this poses a serious risk to traders who contemplate to use 500Investments’ services.
Secondly, details of the company behind this broker’s website cannot be found anywhere on the internet. The only information we have is that they’re operating from St. Vincent and the Grenadines.
St. Vincent and the Grenadines is a jurisdiction know for weak regulatory framework. In fact, the financial regulators here are only regulating the insurance industry, not Forex brokers.
500Investments review
Every time we review a broker, we usually go through their website to try and see whether the advantages can outweigh the disadvantages.
We were able to find that 500Investments broker only has one advantage attributed to the use of their website.
The only pleasing thing about this broker is that they offer numerous trading instruments which could mean that traders have a wide range of financial instruments to trade.
500investments trading platform is praised for simplicity and sophistication all in one place. This makes the entire thing look like it can rival the popular MT4 trading software when that is far from the truth.
In fact, brokers who don’t have MT4 software use this trick to delude less experienced traders.
They make it look like it will be easier to make money with their proprietary trading platform, when that is not the case.
500Investments review: the disadvantages
We’ve said earlier that this broker suffers many setbacks which could cause professional traders not to choose their platform.
Apart from regulatory huddles that they currently suffer, it’s not clear what the cost of trading with 500 Investments is.
Spreads have not been published on their website and so are commissions charged for trading activities when using their account types.
The only thing that is clear is that the broker will provide platform introduction education since this is not as straight forward as MT4 or cTrader.
The other thing that’s clear is that fundamental and technical analysis will be provided. We assume that this information will be generic in nature.
Relying solely on the broker’s technical and fundamental analysis will never give you an edge in trading.
Lack of a regulatory license
500Investments has never bothered to apply for a license.
The reason could be due to the fact that they’re running business in a jurisdiction not associated with strong regulatory framework with regards to how Forex brokers work.
This is a favorite jurisdiction for shady brokers and it’s not by accident that 500 Investments picked this destination for their headquarter.
Traders are advised against using the services of unregulated brokers.
These brokers are not responsible for safeguarding their clients funds.
They often mix their clients’ funds with those of the company, making it difficult to differentiate between what the company will use for their day-to-day operations and what clients will use for their trading.
Secondly, brokers such as 500Investments are never regulated for the simple reason that they always have an end-goal in mind.
The goal is often to get as many clients as possible and once they gather enough deposits, they can simply disappear without a trace.
They know that clients will not have anywhere to report them to because for one, the website has not disclosed the name of the company associated with their operations and secondly, there’s no where to report this kind of act when clients deal with an unregulated broker.
Based on this finding, we implore traders to avoid 500Investments broker altogether.
Dirty rules with your money and longer withdrawal times
A fee of 0.5% of the withdrawal amount shall apply every time you cash out. This is according to the companies withdrawal policy.
Furthermore, their terms and conditions on withdrawals say that 500Investments broker will charge a $30 flat rate fee if the above percentage fee is equal or is less than $30.
Furthermore, their terms and conditions state that withdrawals will be processed within 7 business days. Most brokers process within 24 hours.
No client feedback or reviews
No one is willing to invest with a broker whose reputation is not known.
This is mostly the case with new brokers though. Good examples of brokers who have not attracted any reviews include Rogerfin, Platinium Fund, Topinvestus and so on.
When writing this 500Investments review, we thought it would be easier to find reviews highlighting the past experiences of their customers.
But this is not the case. Kindly make use of this 500Investments review to air your opinion and experience regarding this broker.
Conclusion
At the end of the day, this broker is gonna offer you a raw deal. It is better to trade with a regulated broker than one who is not.
It is better to look for a broker who is rated highly in the industry. Some of the brokers we’re talking about can be found here.
Please utilize their services.
Thanks for reading this 500Investments review.
Gary Reid
500 investment is a scam they just want you to keep putting money in but you can not withdraw it don’t trust them we we’re talking to adam
Nick Ashby
I put 250 dollars in, could not use website, and they constantly harassed me to put more money in, now I’m blocked from website but I spoke to my bank and luckily got my money back, and that’s when I found out they were unregulated. And to this day I get 2 calls or more a day which I ignore. KEEP AWAY FROM THEM.
Gerard F Bugg
Yes , they are hassling me twice daily . I put US $500 in .
It’s in cyberspace @ present , my banks fraud dept is onto it . Steer clear if I were you !
Gerard Francis Bugg
No futher comment
Verity
Got a call from these guys withing 10 mins of registering – I was mostly curious about the whole trading system (I know nothing). The person on the phone spoke very fast and over the top of me when I was asking questions, she kept wanting to know what my reservations were, and was adamant it was very easy to get money back.
I said I wanted to do some research and she said that no one calls back after theyve done any research themselves, which to me screams out that its suspicious.
I cant work out how to close my account now, and no doubt will get plenty of calls in the future.
Damn my curiosity!
Grant
Don’t trust these people as I have just under $10,000 dollars sitting in my account which I have made trading and they will not release it.
It has been 3 weeks so far since my request to withdraw.
Will keep you updated if I receive my money but don’t hold your breath.
Darron
Hello Have you received your money yet..I have invested too and now after seeing this am concerned.
DEREK gibson
I started a basic account with 500 invest of $250 I was given Dave Gold as an account manager, after 1 week my investment was an unbelievable $5000, after 3 weeks an even more unbelievable $18,500, I called Dave Gold regarding a concern over receiving some calls from other companies saying they were affiliated to 500 invest and that I had to give them $250 dollars to complete the account, Dave advised me that this was a scam, we then had a conversation regarding my account and how I could withdraw some of the funds he did go through the procedure, then started asking me about any other savings and pensions I had and that he wanted me to give it all to him when I refused the tone of the conversation changed and he then told me that if I didn’t give him my money he was going to stop trading with me and that he had worked his butt of to get me my money, he then told me that he was going to close my account, I then tried to withdraw some of the money which was declined on several occasions, after 1 week my account diminished to $19, I then got a call from his manager and I told that I would be writing a review reflecting my experience he then threatened me with legal action, a few days later I was called by a guy called danny who said he wanted to sort this out and resume trading, he didn’t want anymore money from me but did say that it was me who lost the money because I had it on auto trading, so what had dave gold worked his butt on, danny then did start asking me about my other savings and pension and when I told him that he wasn’t getting anymore he hung up the phone, I have had nuisance calls since then from other investment companies, so not only do 500 invest make money from your investment but sell your details on to anyone who will pay, scammers or not make your own mind up.
Arthur Martin
I can endorse all of the above, and am equally annoyed with myself for being sucked in.
Definitely a scam, and it is hard to understand why the high profile and respected people whose images are used to promote credibility in the scam don’t do something to have these people taken out.
After paying the minimum amount of US$250 the bank notified me to say they had blocked my credit card until I confirmed that I wanted the funds to be processed. They said there is a good chance of fraud, and have I checked them out. Foolishly, I asked them to put it through and unblock the card.
Just like Verity, above, I received a call within minutes, and the hard-sales process started.
I was connected to Adam who showed me how the system works, clicked on a few items on the platform, and he suggested I would need to put more money in to make the whole worthwhile and that with only $250 it would take forever to make any money. I told him there was no way I wold put more money in, and he said there was no point continuing if I wasn’t prepared to do that, so I said that’s fine, I’ll get my $250 refunded.
Then the delay tactics started. More evidence to verify who I am, copies, in colour, of both sides of drivers licence or passport (like heck!), credit card, copy of electricity bill.
I was then told I needed to complete a withdrawal form, and when I tried to do that I noticed that the full $250 was not available. I completed the form, and they told me it had been cancelled because of trading.
I had no idea there was trading on the account. I think that Adam had activated it in the demo, and the wretched thing was still open.
I assume it is an internal virtual platform, and the strategy they use is to get trading started, walk away and let it trade itself down until there are no funds left to refund.
After three weeks of emails I received a call from Dan Miller, who tried very hard to have me put more money in, even asking what the limit of credit card was (which I didn’t tell him), and he suggested I could put a few thousand on the card and generate more money on their system.
These people have no conscience and no sense of right or wrong. But at some point they answer to a much higher authority than us, and I pity them when that time comes.
At my age, close to 80, money is of no use to me, but I do what I can to support others, especially lepers in India, children in different countries, the underprivileged, so it is these poor people that they are stealing from. I know I have lost US$250, but other poor investors loose thousands. Notice the clapping and cheering in the callcentre/trading room when they have succeeded in winning another scam. Galling, don’t you think? Good luck Grant.
PETER Bourrelly
These people scamed me too, to the sum of $13,000 au. My story is the same . This guy Raphael Davis so he calles himself got me to send $750 Au. Then after he received it he started asking for more telling I need to buy a bitcoin because that is where the money is . Stupid me I believed him and transferred $13,000 Au after a week they sent me what looked like a tradi g sheet showing how good my investment was doing. Then asked for more money to buy another bitcoin. Thats wben i said no. Then the problems started. Raphael cut me off. Another guy called trying to get me to send more money, when I said definitely not he started to abuse me and said I was wasting his time and hung up. Then another guy called saying he was head of the trading floor and was sorry for the way I was treated. Because I did send some very nasty emails. He promised to send me back $2000 Au and said it would take about 7 days, that was 3 weeks ago but I’ve seen nothing and i know now i never will.
Please for your own sake dont let these bunch of thieves talk you into sending them your hard earned money. You will never see it again and they will laugh all the way to their bank.
Simon G
500 Investments Adam Luca and Nicole Jackson, $10000 usd invested, have asked over 13 times to refund my account over 3 mths so far, Nothing
SCAM SCAM SCAM
john B
same problem got sucked in , still trying to get back my $250 dollars , endless e/mails asking for more details like Driver licence electric bill ETC keep sending BUTT they keep saying Documents still missing re send ,
as a pensioner of 84 thought it was worth a try WRONG !! had call from account manager ,who could talk under water and fast , tried to get more money to invest in Bit Coin , every E/mail comes from a different Name ??? annoyed with my self for getting Sucked in , there advertising is False the well known Personalities have nothing to do with 500 Investments , Scam Scam ,
van
never get involve with 500investment to make you life better.
Dean Kitching
same story here , 6600 in , pestering for more, I closed the only trade, asked for withdrawal , completely ignored but now putting on trades that will lose the money, if it were actually being invested anywhere..which it obviously isnt, just a further perpetration of the scam through their own trading platform which they can manipulate how they like…
ron may
I also have been dealing with Adam Luca and just lately Adrian Rosenberg, (are these real names)? I deposited $300 after seeing an Ad with Gordon Ramsey. I too have been pestered by other so called connected companies. 500 Investments seem to be able to employ some very clever people to confuse their investors. I have requested the return of deposits after being led by Adrian into some web sites I was very unsure of, trying to make my laptop look as though it was from another country other than home. He rang off after pressing me to do so, I refused and requested a refund. I don’t expect any progress with 500 investments but I shall go to Fraud Protection Agencies to try to avoid others being so gullible.
Walid
SCAM SCAM SCAM. I got done by 500investment also, they request $250USD to start the investment and i did open the account stubbed me!! and after day or 2 i received an email from they compliance team requesting copy of the credit card, that i used to make the deposit, copy of my driver license and copy of one my home bills , but I start getting smart and didn’t send them anything then someone Called give me his name as Rayan originally from Jordan maybe fake name!! from a phone number 08 79148659 was showing Alice Spring, Northern Territory and he was rude as, he said that i need to invest minimum $5,000 dollars for them to manage my account , i refused and then he start getting more rude then he hung up on me by saying that he doesn’t have the time for me!! looks like $250USD not enough to steal. I tried to call the phone number the number was disconnected and I can’t withdraw my $250USD. this 500investment are SCAM, Fraud and Thieves please do not trust them and there is no such thing this kind of investments
Kerry Dodd
I’ve invested about $1500aud with 500invest, lost most of that, presented the paperwork to my accountant and she wrote it off as a loss on my yearly tax return. I then tradyed the account back to a 7000 profit, but when i tryed to withdraw I got an abrasive phone call, basically saying I’ll never get money out and the account will close when inactive for 3 months.
Siel
500 investments is 100% a scam. When you invest in Bitcoin you (and only you) should have access to open up your wallet, which should be secured with a password. And even though they come over very professionally, they will try and convince you to invest more and more money and when you ask to send your money back they of course will not. Also, be wary there are a lot of websites or fake companies out there who claim they can help you get your funds back. Do not trust them, they are all scammers as well – ask them how they manage to do this and they will respond asking for your personal details. I have forgiven myself to be so naive to believe they were a legit company, without doing my due diligence well enough and I now want to prevent other people to fall victim to them. Sad to know there are such intelligent educated people out there who target innocent individuals but unfortunately it is the truth. Do not make the mistake I did and if you want to invest your money in cryptocurrency stick to the well known trusted names and companies.
CRYPTORECOVERYLTD
Theoretically you can track the flow of many Bitcoin addresses manually with an explorer using clustering and forensics analysis, but to do it properly you’d need in many cases hundreds of hours. So tracking tools are wanted to follow up the coin flow from the thief, ransomware attacker, tax debtor or drug dealer until it ends at an exchange for cashing out. The owner of an address can be found out then with help of police or law enforcement. I know two tools able to support here, one is the walletexplorer and the other is btctester . The latter calculates for each address a privacy score between 0% and 100%, the lower it is the
easier the address is a candidate to reveal the privacy.