With the COVID-19 pandemic wreaking havoc across the global economy, more and more people are seeking refuge in the financial markets. After an initial stumble, most of the global financial market managed to bounce back quickly and were once again generating high profits. As many people had lost their jobs or were earning less, they also jumped on the trading bandwagon. These days, online trading has made everything quite simple and you just need a reliable broker to get started. The purpose of Group500 review is to help you take a close look at their offerings to make up your mind.
The question is why do you need to do that? Would you really purchase anything without doing any research? In today’s age of internet and social media, people do not invest their money anywhere without knowing everything possible about it. The same logic applies to online trading. There is no denying that it can be immensely profitable, considering that there is a wide array of instruments that you can trade, but there are lots of factors that can have an impact on your bottom line. One of these is the brokerage you choose because they are the ones that connect you to the markets.
They will provide you with the assets you decide to trade, the platform you use for executing your trades and the tools that are utilized for making decisions. If there is any lack anywhere, it will affect your overall trading performance and experience. Plus, it is also important to remember that not all brokers in the market are authentic, or will be a good fit for you. There have been a number of scams and frauds that have occurred in the online space due to lack of regulation and this should make you wary.
Moreover, just because a platform is genuine doesn’t mean that it can fulfill your needs easily. Every trader is different and their requirements, preferences and expectations can vary. Therefore, your priority should be to sort through the hundreds of options to find one that can suit your needs in the best possible way. Of course, this is not easy to do because you would require a great deal of time and not everyone can spare that. Also, if you are new to the space, you may not know what to look for and this can further add to the confusion.
Many people just end up picking a random broker and later regret their decision because either it doesn’t offer what they are looking for, or it is not a professional platform. You will find yourself back to square one and searching for another platform soon enough. The best way to avoid wasting your time and adding to your frustration is to find the right choice in the first go. This is where reviews can come in handy because they can provide you a close look at what you will get and help you in making your decision.
Based in Geneva, Switzerland, Group500 is one of the options that you will find when you are searching for a well-rounded trading solution. It appears to be quite impressive on the surface, but you cannot just take their word for it. You have to do your own research in order to find out if it will work out for you or not. Let’s check out the Group500 review in order to do so:
|Trading Accounts||Five Account Options; Silver, Gold, Platinum, Signature and VIP Accounts|
|Assets Coverage||Forex, Cryptocurrencies, Stocks, Indices, Commodities and Futures|
|Trading Tools||Trading Indicators and Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools, Price Alerts, Trade Glossary and Risk Management Tools|
|Education and Training||Yes; , e-books, online video courses, webinars, tutorials, latest market news, guides and spread and trading hours|
|Customer Support||24/5 support via email address, phone number and online contact form.|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
|Parent Company||GAIR LOCH ENTERPRISES LTD|
The primary purpose of looking for a broker is to trade financial instruments that can help you generate profits. Group500 provides CFDs (Contract for Difference) to its clients, which enables them to access some of the leading financial markets around the world. They can trade numerous assets, without actually having to buy them physically and this is a huge advantage. Of course, it is important to remember that not all platforms will offer you the same instruments, so if you have something specific in mind for trading, you should check what is being offered. Not all financial products offer the same returns, so you should ascertain the choices available to you.
The asset offerings that you will find on Group500 are undoubtedly impressive because, as mentioned above, they have given their clients access to a variety of markets via a single platform. There are more than 100 instruments for you to choose from and this gives you a lot of room for diversification. You will be able to spread out your investment, which can go a long way in minimizing your risk and maximizing your profits. Some of the top assets that you will be able to trade are:
Referred to as the largest financial market in the world, the forex currency market is known for its volatility and comprises of hundreds of currency pairs that can generate solid returns. Some of the choices you will find include EUR/USD, GBP/USD, GBP/NZD, USD/CHF, EUR/CAD, USD/JPY and AUD/USD are some of the popular choices you will come across.
Another one of the popular financial markets in the world is the stock market, where traders get the opportunity to buy and sell shares of some of the leading companies. Tesla, Amazon, Apple, Facebook, Netflix, Square and Aurora are some of the notable names you will come across.
Traders who are looking for lucrative trading opportunities will find plenty of those in the indices market. You can trade some of the top indices at Group500 and these include NASDAQ 100, S&P 500, FTSE 100 and Dow Jones.
One of the biggest and most diverse markets in the world is the commodities market. It is also known for offering consistent returns due to low volatility and there are soft and hard commodities that can be found. The former include agricultural commodities, such as wheat, coffee, corn and rice, whereas the latter comprise of precious metals like gold and silver. You can also find energy commodities, such as crude oil and natural gas.
A prominent addition that has been made by Group500 to its asset index is that of cryptocurrencies. These digital currencies are in great demand nowadays because their high volatility allows traders to make a lot of money in a very short span of time. You can trade some of the best cryptocurrencies here, including Bitcoin, Ethereum and Litecoin, amongst others.
Have you ever thought why online brokers are considered vital? Why can’t you trade without them? Why are their services required? It is primarily because these companies are responsible for providing you the trading platform that you use for trade execution. What is it? To put it simply, this refers to the trading software that’s used for connecting to the financial markets and opening and closing positions. Without this platform, you will not be able to do any trading and have no idea of what is happening in the market.
Of course, every company offers a different trading solution to its clients and uses this feature to distinguish itself from the rest of the crowd. When you are hunting for a broker, you need to prioritize the trading platform because it plays a very important role in your trading experience and you shouldn’t take it lightly. If the platform is too slow or lacks any necessary features, you may not be able to maximize your trading activities and this can result in losses. You need to take a look at the Group500 platform as well, in order to know what you will use.
Rather than choosing from the existing trading solutions in the market, a web trading platform has been developed by the team of Group500 for its users. The first thing to note is that since it is accessible via the web, you don’t have to download or install it anywhere. This is a huge perk, especially for those who don’t want to be restricted to a single device for their trading. They can use it on desktop devices, or mobile devices, allowing them the freedom and flexibility to trade from anywhere and at any time, so they don’t miss out on any opportunities.
The simplicity of the web trading platform by Group500 becomes apparent straight away, but it should be noted that this doesn’t mean any compromises have been made in regard to functionality. They have used state-of-the-art technology for creating this platform and empowered it with some of the most powerful trading tools in the market. The ease of use doesn’t mean that the platform doesn’t provide you with the necessary tools and features. The one click order execution offers an unparalleled trading experience to every user.
The platform doesn’t lag in any way and continues to run at a fast pace. Group500 has equipped it with advanced charting tools, graphs, an economic calendar for alerting you about the latest events, trading signals, price alerts and the latest market news, so you know what is happening. You don’t have to worry about a learning curve because the platform is easy to navigate and you can figure out how to open and close positions quickly.
One of the aspects of signing up with a broker that people find most daunting is the registration procedure. There is no standard format that has to be followed here, which means that every platform is free to come up with whatever steps they deem fit. You cannot predict what you will be required to do, the information you will be asked to provide and the prerequisites you will have to fulfill. This often makes people apprehensive and some platforms have exploited this process that it often frustrates their clients.
It is best to take a look beforehand so you are prepared and to ensure that you don’t have to meet any absurd requirements. The good news is that registering with Group500 involves filling out only one form on their website. The form itself is short and doesn’t take a lot of your time because it asks for only basic details that you can fill out quickly and easily. You are asked to provide your first name, last name and password. There are three account currencies offered and you have to pick one, which are EUR, USD and GBP.
You also have to enter your home address, your city, state and country, postal code, phone number and your email address. The last step is to agree to the Terms and Conditions that are outlined on the Group500 website and you can go through them before you give your agreement. Once you do so, you will be immediately registered on their platform and not have to do anything else.
After completing the registration process, the next step is to open an account with the broker. Here, you will find that most platforms offer several account choices to their users, especially if they are catering to traders from different backgrounds. You will find multiple account choices on Group500 as well because they are offering their services to traders of all skill levels. Whether you are a beginner who is just getting started in the financial markets, or have some experience under your belt, you will be able to find an account choice that works for you.
There are a total of five account choices that Group500 has put together and each of them comes with its own features and offerings. You can explore the options and then pick one that suits your needs. The choices are:
The first account option that you will find is referred to as Silver and Group500 asks for a minimum deposit of $10,000 for it. This account is meant for newbies in the trading world, so they are provided one-on-one basic training, 24/5 customer support, basic education center, trading news and 2 signals a month from the VIP desk. They also get access to the 365 trading dashboard and the minimum and maximum lot size is 0.01 lots and 100 lots, respectively.
The second account option that Group500 has introduced on their platform is known as Gold and this one is aimed at beginner traders with some experience under their belt. The minimum deposit amount for this account is $25,000. It offers all features of the previous account, along with the addition of trading signals and personal account manager. Traders also receive 10 signals per month from the VIP desk, rather than two.
The next account option that you will come across on Group500 is called Platinum and it is designed for intermediate traders. Therefore, its minimum deposit requirement is set at $50,000 and it comes with some additional features. First off, traders can get access to the full education center this time and they also get full trading signals. A VIP account manager is added and unlimited lots of trading size are given. The signals from the VIP desk are now provided daily, a credit line for premium events is available and there is also a trading algorithm. Traders don’t have to pay any withdrawal fee and the swap commission and trading fee is also minimal.
The account choice that has been created specifically for advanced and skilled traders is called Signature and it needs a minimum deposit of $250,000. It comes with all features of the previous account, along with some major additions. First off, traders can enjoy leverage of 1:300 and also get up to 70% insured contracts. First priority is given to hedging strategies and traders also get personal sessions with a market analyst. You also become member of a traders’ group club and can enjoy private banking.
The last account choice that Group500 offers is for professional and VIP traders who have a high trading volume. They are expected to deposit a minimum of $1,000,000. However, it is important to note that you cannot sign up for this account directly. It is available on invitation only and after traders have met certain requirements.
It is also necessary to take a look at the payment solutions and policies of a brokerage in order to know how you will be able to deposit and withdraw your funds. If the procedure is too complicated or the policies are fishy, you should avoid the company altogether because your money could get stuck and you will not be able to get it back anytime soon. Checking beforehand can save you from this hassle and ensure that you will be able to find convenient options. Different payment solutions have been added by Group500 for its clients.
They allow bank wire transfers via their platform and traders can also use debit or credit cards, including Visa and MasterCard, if they prefer those options. Deposits are usually made instantly, but withdrawal requests at Group500 are processed between 7 to 10 days. There is a minimum deposit amount of $250 that’s applicable on the use of debit and credit cards, but no such restriction exists for bank wire transfers. But, if you want to make a withdrawal via wire transfer, the minimum amount is set at $500. Likewise, the minimum amount for withdrawal via debit or credit cards is $100.
As far as charges for deposits and withdrawals are concerned, you will be pleased to discover that Group500 itself does not charge any fee from its clients. Nonetheless, it should be noted that third-party charges might be applicable and you should take a look at them beforehand, so you don’t have to deal with any surprises.
If there is one thing that can make or break a business in today’s competitive environment, it is their customer support. In the world of online trading, this support is even more crucial because even a small delay can result in huge losses for traders. They require immediate assistance because the financial markets are known to move quickly and fortunes are made and lost within minutes. Regardless, not every platform is capable of providing the level of support you would expect. You can find many complaints from traders about different platforms that don’t offer adequate support.
Before you sign up anywhere, it is a good idea to check if prompt and reliable support is available. Otherwise, it is best to look for other options. You need to do the same in the case of Group500 and when you do, it will become apparent that they have taken their customers’ satisfaction very seriously. Their representatives are available 24/5 via multiple channels. You can get in touch with them via email, or you can use the phone number provided on their website.
They have also provided an online contact form that you can fill out for scheduling a callback at your convenience. In addition, you will also find an FAQ section on the Group500 website that provides answers to common questions and queries that traders have and can use them to resolve their issues.
When you have taken a close look at the offerings of Group500, you don’t have to wonder about their reliability. As they provide access to global financial markets, have a strong trading platform, accommodate traders of different backgrounds and have also added top-notch customer support, it makes them a good choice for anyone looking to trade in the financial markets in the long term.