The short answer: 500pips is an unregulated broker with a trail of red flags that go well beyond the usual concerns. No recognized financial authority licenses it. Spreads on major pairs run around 4 pips, which is roughly four times what competitive regulated brokers charge. Withdrawal complaints are consistent and well-documented across multiple forums.
This review covers what the broker actually offers, what the verified data says about its safety, and what you need to know before making any deposit decision.
Quick Summary 500pips is an unregulated CFD and forex broker claiming Luxembourg as its base. Founded in 2018, it offers six account tiers (Basic to Black), a $250 minimum deposit, and a proprietary web platform with no MT4/MT5. No recognized regulator licenses it. EUR/USD spreads are approximately 4 pips vs. 0.8–1.2 pips at regulated competitors. Multiple user reports document withdrawal delays and denials.
Our rating: 1.5/5. Not recommended.
What Is 500pips? A Quick Overview
500pips launched in 2018 as a CFD and forex broker operating through Pepper Group LLC, with some regulatory database entries listing the parent instead as Growth Capital LLC. The stated address is Luxembourg. Neither corporate structure is particularly transparent — the broker's own site doesn't clarify which entity holds client funds or where it's incorporated for liability purposes.
For a while the broker operated at 500pips.net. That domain later redirected to Pips.FM. In early 2023, accounts were reportedly transferred without user consent to a new entity called PIX Trade; by late 2023, PIX Trade had gone offline entirely. Some users reported losing access to their accounts and funds around that time, per the ForexPeaceArmy community forum.
That background matters a lot. A broker that has rebranded twice and had its latest incarnation disappear in under a year is not behaving like a normal financial services business.
On the surface, the offer looks standard: CFD trading across forex, commodities, indices, stocks, and cryptocurrencies; six account tiers; 24/5 support; a proprietary web platform. The $250 minimum deposit is accessible. Some of those features exist. The regulatory and withdrawal picture is where things fall apart.
Is 500pips Regulated? — The Single Most Important Question
No. 500pips holds no valid regulatory license from any recognized financial authority. It is not on the Luxembourg CSSF register, not authorized by the FCA (UK), not licensed by CySEC (Cyprus), not approved by ASIC (Australia). WikiFX flags it as operating without valid forex regulation. The Scam Detector platform assigns 500pips.net a trust score of 5.4 out of 100.
What that means in practice: there is no investor compensation scheme covering client funds if the broker fails. No mandatory requirement for segregated client accounts. No negative balance protection requirement. No formal external complaints process. If withdrawals are refused, the regulatory route that protects traders at FCA or CySEC brokers simply doesn't exist here.
The FCA's ScamSmart guidance is direct on this: trading with unauthorized firms means "you won't be protected if something goes wrong and you could lose all your money." That applies to any unregulated broker operating across borders, not only those targeting UK residents specifically.
The broker claimed Luxembourg registration. Luxembourg's financial regulator, the CSSF, maintains a public online register of authorized firms. 500pips is not on it. You can verify this yourself at the CSSF's official website — the lookup is free and takes about two minutes.
500pips Trading Conditions: Spreads, Leverage, and What You'll Actually Pay
The spreads are high. Multiple independent review sources record EUR/USD spreads at approximately 4 pips. At regulated competitive brokers — IC Markets, Pepperstone, Exness — EUR/USD spreads typically range from 0.8 to 1.2 pips. On a standard 100,000-unit lot trade, that's a $40 cost at 500pips versus roughly $8–$12 at a properly regulated alternative. Four to five times the entry cost before a single pip moves in your favor.
Here are the verified trading conditions from multiple sources:
| Condition | 500pips | Regulated Benchmark |
|---|---|---|
| Minimum deposit | $250 | $0–$200 (IC Markets, Pepperstone) |
| EUR/USD spread | ~4 pips | 0.8–1.2 pips |
| Leverage (forex) | 1:200–1:400 | Up to 1:500 (offshore regulated) |
| Commission | None stated | $3–$7/lot (ECN brokers) |
| Negative balance protection | Not confirmed | Mandatory at FCA/CySEC brokers |
| Segregated client accounts | Not confirmed | Mandatory at FCA/CySEC brokers |
The leverage range is 1:200 to 1:400 depending on the tier and instrument. ESMA-regulated brokers cap forex leverage for retail clients at 1:30. Offshore regulated brokers in jurisdictions like Seychelles or the Bahamas commonly offer up to 1:500. So 500pips' leverage is in line with other offshore-style brokers, though the comparison is a bit academic given the lack of regulation.
Commission-free trading is advertised. That just means the broker earns through the spread rather than a declared per-trade fee. Whether that's cheaper depends on volume, but 4 pips is well above the point where "no commission" reads as a genuine advantage.
What Can You Trade with 500pips?
The asset list covers the main categories without anything particularly distinctive:
- Forex: EUR/CHF, NZD/USD, EUR/GBP, USD/CHF, and other standard major and minor pairs
- Commodities: Gold, silver, Brent crude, natural gas, and agricultural contracts — wheat, coffee, soybeans, corn, cocoa
- Indices: DAX 30, S&P 500, NASDAQ, Eurostoxx 50, Taiwan MSCI Futures, Singapore MSCI Futures
- Stocks: Primarily European and UK equities — Lloyds, Rolls-Royce, EasyJet, Siemens, Deutsche Post, British American Tobacco
- Cryptocurrency: Available as CFDs; leverage is 1:5 on crypto instruments per the broker's disclosed conditions
All instruments are CFDs. You don't own the underlying asset. That's standard for online retail brokers and not a red flag on its own.
The asset coverage is genuinely broad — the agricultural commodities list in particular goes beyond what many brokers include. That's one of the few things the broker has going for it. It doesn't change the regulatory picture, but it's worth noting. For context on what a full regulated CFD broker asset range typically looks like, our broker hub has a comparison.
Does 500pips Offer MetaTrader 4 or MetaTrader 5?
500pips uses a proprietary web-based platform. Desktop, mobile, and tablet access are all supported. The broker describes it as "industry-leading" with real-time execution, customizable charts, and live data. Marketing language, but the core functionality seems to exist.
The more important point: MetaTrader 4 and MetaTrader 5 are not available. MT4 and MT5 are the industry standard for retail forex trading — they support Expert Advisors, third-party indicators, strategy backtesting, and multi-device sync. If your trading system is built around MT4 tools or automated strategies, none of that works here.
No independent security audit of the proprietary platform has been published. The broker claims encryption comparable to major banks and online retailers. That's a common claim and not something that can be independently verified from the outside.
How Do 500pips Account Types Work?
Six account levels, from Basic to Black. The structure looks like this:
| Account | Key Features |
|---|---|
| Basic | Education center, daily market review, pro webinars, price alerts, 24/5 support |
| Bronze | Adds junior-level account manager |
| Silver | Adds senior-level account manager |
| Gold | Adds VIP account manager, gold signals, personalized trading strategy |
| Platinum | Adds 1-on-1 trading trainer |
| Black | "For exclusive clients only" — no details published |
The deposit thresholds for each tier aren't publicly listed, which is unusual. Most multi-tier brokers publish a clear number — "Bronze from $500, Silver from $2,500" and so on. Here, you'd have to contact the broker to find out.
The account manager feature is worth flagging separately. Forum complaints across WikiFX and ForexPeaceArmy include reports of account managers pushing clients to deposit more funds or upgrade tiers. The account manager earns on client deposits — not on trading results. That incentive structure is standard for unregulated brokers and it's one reason why the high-tier "exclusive" accounts should be approached carefully.
Can You Actually Withdraw Money from 500pips?
This is where the review gets consistently grim. The broker's stated policy is 5–7 business days for processing, plus up to 7 additional days for credit card payouts. Withdrawals go back to the original payment method. Western Union and MoneyGram are not accepted.
In practice: user reports across Trustpilot, WikiFX, and ForexPeaceArmy document delays well beyond that window, requests for additional verification documents mid-process, and in some cases outright refusal. A ForexPeaceArmy forum thread specifically about the 500pips/Pips.FM rebrand shows multiple users reporting account transfers to PIX Trade without their consent, followed by the new entity going offline in late 2023.
The pattern is too consistent across too many independent platforms to dismiss as outliers. I'm not saying no one has ever successfully withdrawn from 500pips — some probably have. But the volume and specificity of complaints suggest this is a structural issue, not random individual cases.
The payment methods available for deposits and withdrawals include bank wire, credit/debit cards, Skrill, and Neteller. That part is reasonably standard. The problem isn't the mechanics of the payment methods; it's the reported behavior when traders try to use them for withdrawals.
Is 500pips Customer Support Reachable When It Matters?
Phone lines run from 9 am to 7 pm Luxembourg time. The published number is +35220204283 — a Luxembourg country code. Live chat is listed as available on the website. Email is a third option.
24/5 support is claimed, implying chat and email cover outside business hours. Whether that holds up in practice is hard to confirm from public data. Forum feedback suggests reaching the broker is easier when the topic is depositing money than when the topic is withdrawing it.
500pips Pros and Cons
Pros
- Broad asset selection: forex, commodities, indices, stocks, and crypto all under one account
- Agricultural commodities list is more detailed than most brokers (wheat, coffee, cocoa, soybeans)
- Commission-free trading structure
- Six account tiers covering different needs and experience levels
- Multiple payment methods: cards, bank wire, Skrill, Neteller
- Phone support with a published Luxembourg number
Cons
- No valid regulatory license — not on CSSF, FCA, CySEC, or ASIC registers
- No confirmed segregated client accounts
- No confirmed negative balance protection
- EUR/USD spreads ~4 pips, approximately four times the competitive regulated benchmark
- Proprietary platform only — MT4 and MT5 are unavailable
- Significant documented withdrawal complaints across multiple independent platforms
- Domain history: 500pips.net → Pips.FM → PIX Trade (disappeared late 2023, with fund losses reported)
- Scam Detector trust score: 5.4 out of 100
- FinTelegram reported a connection between 500pips and the "Oil Profit" fraud campaign in 2021
- Account manager incentive structure tied to deposits, not client performance
500pips Review: The Bottom Line
500pips is an unregulated CFD broker that we cannot recommend. The combination of no regulatory license, unconfirmed client fund protections, above-average spreads, a proprietary platform that excludes MetaTrader, and a documented withdrawal complaint history is not something that can be offset by a broad asset list and six account tiers. The domain history — three names, two rebrands, and one entity that took client funds offline — is the most serious part of the picture.
If you have funds with 500pips right now, the practical advice is to request a withdrawal promptly, document everything in writing, and be prepared to dispute through your payment provider if the process stalls. See our ProfitiX review for additional context on what to look for in CFD broker evaluations. For traders evaluating 500pips as a new broker, check our regulated forex broker comparison for alternatives that carry FCA, CySEC, or ASIC oversight and mandatory fund protection requirements.
Our rating: 1.5 out of 5.
Frequently Asked Questions
Is 500pips a regulated broker?
No. 500pips has no regulatory license from any recognized authority. It is not registered with Luxembourg's CSSF, not authorized by the FCA (UK), not licensed by CySEC (Cyprus), and not approved by ASIC (Australia). Trading with it means none of the standard investor protections — segregated accounts, compensation schemes, or formal complaints routes — apply.
What is the minimum deposit at 500pips?
The minimum deposit is $250, applying to the Basic account tier. Minimum thresholds for higher tiers (Bronze through Black) are not published on the broker's website — you'd need to contact the broker directly to find out what's required for each level.
Does 500pips offer MetaTrader 4 or MetaTrader 5?
No. 500pips operates a proprietary web-based platform. MT4 and MT5 are not available. This means Expert Advisors, automated trading systems, and third-party MT4 indicators built by traders cannot be used on this platform.
How long do 500pips withdrawals take?
The broker's stated policy is 5–7 business days for processing, with up to 7 additional days for credit card payouts. User reports across Trustpilot, WikiFX, and ForexPeaceArmy document delays well beyond this, along with requests for additional verification and, in some cases, refusal of withdrawal requests.
Is 500pips the same as Pips.FM or PIX Trade?
Yes. 500pips.net rebranded to Pips.FM at some point after 2021. In early 2023, accounts were reportedly moved to a new entity called PIX Trade without user consent. PIX Trade disappeared from the internet by late 2023. The current status of 500pips.net is unclear — multiple sources report it as inaccessible.
