Option 500 has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +44 2036958189
Addresses: 20-22 Wenlock Road London England N1 7GU This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.option500.com.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Option 500 recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Fast deposits|Economic calendar|Excellent charting
Cons: Live chat only during business hours|Some tools only available on higher tiers
I had a dispute with Option 500 and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Clear documentation|Wide product range
Cons: Help articles are sometimes vague|Minimum deposit could be lower