500 Markets Overview
500 Markets is a notorious broker that grew fast to become of the largest trading firms online in the world. The current customer base includes a million users from many countries worldwide and a billion in average monthly foreign exchange volume.
What are the Tradable Instruments Available?
This broker covers various markets, including indices, stocks, forex, commodities, and digital coins. Many commodities are available to trade, and this broker has a stronger variety in other areas like digital currencies.
- Contract for Differences, or CFDs, are financial derivative products that enable investors or traders to speculate in different markets without possessing the underlying assets. 500 Markets tradable instruments take account of the following contract of differences:
- Currency Pairs: This combines two diverse currencies with the price of a single currency quoted against the other. Take account of the EUR/USD. This is a reflection of the Euro price measurement in dollars.
- Commodities: This takes into account raw products like oil and gold.
- Stocks: 500 Markets provides trading in stock from exchanges. Stocks are an example of securities signifying partial ownership of a company. Remember that when doing stock trading, you’re speculating on the value of a stock without taking ownership of the basic asset.
- Stick Indices: 500 Markets available index instruments are plentiful.
- Cryptocurrencies: Crypto or digital coins like Bitcoin are secured by cryptography.
Is Mobile App Available?
The 500 Markets mobile app has a user-friendly and clean interface and offers remarkable functionality. This is an easy-to-navigate and highly intuitive mobile app. The user experience is positive because the mobile app feels up-to-date and modern. Traders can utilize this app to follow different instruments arranged by asset type, keep track of their open positions, make trades and at the same time, fund their trading account.
Basic types of orders like market, stop loss, as well as limit orders, are likewise available. The mobile app also allows you to trade from the chart. Alerts and other common features are also on hand.
500 Markets mobile app has good-looking charts but provides limited functionality, and various kinds of charts are also available in different time frames. There are drawing tools and technical indicators.
Does 500 Markets offer Demo Account
500 Markets provides unlimited practice or demo account with a virtual fund to assist traders in practice trading risk-free. This can be funded with virtual money. This is vital for first-time traders because it allows them to practice their techniques and get used to the trading platform without risking real money. A demo account is available with the use of MT4 and MT5, and you can use it in different types of accounts.
500 Markets Deposit and Withdrawal
500 Markets doesn’t charge for deposit or withdrawal process through credit or debit card, except for a bank wire. This trading platform provides a wide array of withdrawal and deposit methods, which is better than average for the trading industry. It is vital to keep in mind that the availability of withdrawal and deposit modes depends on the residence or country.
Customer Support
This broker provides competent customer assistance via phone, email, and live chat. Customer agents are available 24 hours each day of the week. You will be satisfied by the customer assistance level you will receive.
Responds to customer support concerns and inquiries were quick. With live chat, a bot attempts to answer your concern and then chooses to talk to a live agent, which normally happens immediately. There is no wait time for calls, and emails were responded to in a few days.
Is 500 Markets safe to use?
Yes. 500 Markets clients are presently registered under an offshore entity that offers little regulatory security and protection.
500 Markets Pros and Cons
It won’t be complete to say that 500 Markets has its advantages and disadvantages when trading on this platform. Let’s start with the pros:
Pros
- Well-made proprietary platforms
- Good and excellent customer service
- Good educational and research tools and materials
- Provides an array of third-party tools and platforms
Cons
- Not available to some countries
Conclusion
500 Markets is a reliable broker that allows traders to trade in stocks, commodities, forex, cryptocurrencies, etc. It is ideal for newbie traders as they offer many educational and research tools to help them become used to the market. However, the service comes with a certain limit since it does not allow some other countries’ traders.
Disclaimer: This is sponsored marketing content.