About 500.trade
Company Overview
500.trade is a forex and CFD broker that claims to operate out of Luxembourg, having been established on 23 October 2020. The broker presents itself as an online trading platform for retail clients, though verified public information about its operations is scarce.
According to the limited data available from official registries, the broker does not hold any recognised regulatory licences from financial authorities. This absence of oversight is a significant factor for any trader considering opening an account with this entity.
Regulatory Status
Our research indicates that 500.trade is not regulated by any major financial regulator. The broker's registration in Luxembourg does not imply regulatory oversight by the Commission de Surveillance du Secteur Financier (CSSF) or any other authority.
For traders, the lack of regulation means there is no independent body to ensure fair practices, segregation of client funds, or access to compensation schemes. This elevates the risk profile considerably.
Trading Platform and Instruments
Based on the broker's domain name and common industry practice, it is likely that 500.trade offers a web-based trading platform, potentially MetaTrader 4 or 5, though we cannot confirm this without access to the official site.
Instruments may include major and minor forex pairs, CFDs on indices, commodities, and possibly cryptocurrencies. However, without direct information from the broker, these details remain speculative.
Account Types and Funding
Standard industry practice for brokers in this segment suggests that 500.trade may offer several account tiers, such as a standard account and possibly a VIP account, with varying spreads and leverage options.
Funding methods typically include bank transfers, credit/debit cards, and e-wallets, but we have no confirmation from the broker. Traders should exercise caution and verify all details independently before depositing funds.
Risk Assessment
FXCanary's Scam Risk Score for 500.trade is 51 out of 100, categorised as 'Elevated'. This score reflects the significant risks associated with trading through an unregulated entity, particularly the lack of investor protection.
Potential clients should be aware that there is no recourse for disputes, and the broker may not adhere to standard operational practices such as negative balance protection or transparent pricing.
Target Audience
The broker appears to target retail traders looking for forex and CFD trading with potential high leverage. Given the unregulated status, it is likely more suitable for experienced traders who are aware of the risks and accept them.
It is not recommended for beginners or those who prioritise regulatory safeguards. Traders should conduct thorough due diligence before engaging with 500.trade.
Overview compiled by FXCanary from regulatory records and public data. full 500.trade review