JPY500 Review – Is JPY500 Scam or Legit?
If you are looking to achieve your financial goals in a short span of time and don’t want to follow the 9 to 5 schedule, trading offers you a golden opportunity. The best thing about trading is that it lets you try your luck in various financial markets.
You can trade currencies or stocks of different companies; you can trade indices or commodities like precious metals and energies. These days, cryptocurrencies have also joined the mix and are attracting traders from all over the globe. But, to start trading, you have to have a reliable broker in your corner.
Numerous brokers tout their services as the best, but this doesn’t make them so. Brokerage scams are also rampant so you need to be extremely cautious in choosing one. You don’t want to end up losing your money because you chose a wrong broker. Amongst the various options, one broker you will come across is JPY500.
This broker was established in 2012 and is the brand name of MCA Intelifunds Ltd, which is a financial services company. The parent company is based in Cyprus and is regulated and authorized by the Cyprus Securities and Exchange Commission (CySEC). What to expect from JPY500? Take a look below:
Security due to regulation
First and foremost, as mentioned above, JPY500 is regulated by CySEC. Cyprus is undoubtedly one of the most popular jurisdictions for brokers in Europe. There are certain rules and requirements that have to be fulfilled by Cyprus Investment Firms. These include holding at least €730,000 to show proof of financial stability. The FCA in the UK also requires this from their brokerages.
Secondly, CySEC also dictates that brokers have to maintain segregated accounts for their clients to prevent any financial misappropriation. In addition, CySEC-regulated companies also become members of the Investor Compensation Fund under which every client receives €20,000 in case the broker goes bankrupt.
Furthermore, every company regulated by CySEC is automatically MiFID compliant, which means they are free to provide cross-border services within the European Union. Negative balance protection is also offered to clients of JPY500, which means their accounts cannot go into minus. Hence, traders will not lose more than they have invested, even in times of extreme market volatility.
If the trader is exposed to more than they have invested, JPY500 will deal with the loss. To provide further security, the broker has also implemented the KYC (Know Your Customer) policy that requires traders to submit proof of ID and address before they can trade via the broker.
Favorable trading conditions
With JPY500, you can find favorable and appealing trading conditions, which has made it a solid choice for traders. In order to open an account with the broker, you just need to deposit a minimum sum of $200. Such a small amount is considered average and not too difficult for even beginners to manage. When it comes to spreads, they depend on the account you open with JPY500. It also has multiple account options just like other brokers and they all have different spreads.
You can get competitive and tight spreads and enjoy high profits. As far as commission is concerned, it is applicable only in one account option and even that is quite reasonable. When it comes to leverage, JPY500 continues to impress because the highest leverage that you can get from the broker is 1:400. This is undoubtedly high and allows traders to make bigger trades, even if they don’t have a lot of funds to invest. The leverage can go as low as 1:100, depending on account type.
Market-Leading trading platform
The trading platform is an important part of a broker’s services because it is the software you use for making your trades. JPY500 certainly doesn’t disappoint its clients in this regard because instead of offering some unknown option, it has gone straight for the best; the MetaTrader 4. This is a market-leading trading platform and is available as web, desktop and mobile versions. This trading terminal is internationally acclaimed because it offers a full spectrum of trading features and tools that no other platform has been able to match.
There are more than 50 built-in indicators, a wide range of Expert Advisors (EAs), along with back testing options for them and an advanced charting package. JPY500 also offers trading signals, which can complete the whole package. Both newbies and experienced traders alike can reap the benefits offered by the MT4 trading platform, no matter which version they choose to use.
Various methods of payment
The payment methods offered by JPY500 are an important consideration because you want to be able to add and withdraw money easily and with the least amount of hassle. There is no need to worry in this regard because various mode of payments are offered by the broker. You can use your credit or debit cards for transactions, which include Visa, MasterCard and Maestro. Bank wire transfer options are also available, but they are subject to a fee of $20. Lastly, JPY500 also offers support for several e-wallet options like Neteller, Skrill, CashU and ecoPayz.
Diverse trading options
One of the most notable features of JPY500 is that the broker presents diverse trading options to you. Starting with 60 currency pairs, JPY500 has also added a wide array of instruments to their platform. You can trade shares, indices and commodities like gold and silver, oil and coffee and plenty more. Likewise, they have also added cryptocurrencies to the mix, which include Bitcoin, Litecoin and Ethereum. You can find more and more options and can create a diversified portfolio in order to enjoy substantial returns.
Along with these options, JPY500 also offers you great customer support and unique account options for facilitating the trading process. A referral program is also available, which can add to your income. Hence, JPY500 provides you with everything you need for exploring all the possibilities in the trading market of your choice and do it without any security concerns.
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