Option 500

I requested my data from Option 500 under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.

I joined Option 500 from a review site like this one and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.

I gave Option 500 a fair chance. After for over three years of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.

I had high hopes for Option 500 after seeing their ad online, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.

KYC with Option 500 is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.

Do not use Option 500 for anything serious. I used them for just over a year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.

Do not be fooled by the professional-looking website. Behind the scenes, Option 500 is disorganized and incompetent. I found them through my accountant's suggestion and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.

Option 500 had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.

After spending for close to eighteen months trying to make Option 500 work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.

Where do I even begin with Option 500? for a couple of months now of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.