Group 500 Review – Regulatory Warnings Finally Broke Up the Scam
Group 500 Review – Regulatory Warnings Finally Broke Up the Scam

You can only go so far with your fraudulent antics before you attract the attention of the authorities. A large public outcry, following a history of scheming and deception from this particular group, got them onto the blacklists of numerous regulators.

Now, the domain that hosted this predatory website is shut down, and the victims are left hanging with more questions than answers. Read more about online frauds in our Group 500 review.

Regulated by: Unregulated
Is This Company Safe? No, never trust unlicensed companies!
Known Websites: (inactive)
Have Warnings from: FCA, FINMA, BSCS, OSC, CSA, AFM, CONSOB, MNB, IOSCO, Financial Commission
Registered in: UK (alleged)
Operating through: 2020 – 2023
Trading Platforms: Web Trader
Maximum Leverage: 1:300
Minimum Deposit: $250
Deposit Bonus: Available
Trading Assets: Forex, Cryptocurrencies, Shares, Commodities, Indices
Free Demo Account: No
How to  Withdraw from This Company? Request help from our chargeback experts in order to start a recovery process.

Group 500 Regulations and Security

Group 500 is an anonymous brokerage without an owner, allegedly based in Switzerland. However, since there’s no FINMA regulation nor the official owner, we cannot confirm that Group 500 belongs under any regulatory jurisdiction. And that’s a first red flag among many others. If a broker is not regulated, there’s no security of the funds, and you have no guarantees that you will ever get your money back, even the funds you invested, not related to profit.

Thoroughly Blacklisted in the Entire World

Prior to the shutdown, the Group 500 website became known to financial authorities in multiple jurisdictions. The first to notice illegal activities was the FCA, quickly followed by FINMA.

Group 500 blacklisted by FCA

The fraudulent group was active on the North American continent as well, which prompted BSCS, OSC, and CSA in Canada to place the website on the black list.

The list goes on, with additional warnings by AFM, CONSOB and MNB being the next financial authorities to post investor warnings. The independent agencies IOSCO and Financial Commission also had their say in the matter.

Fund Withdrawal Issues

As expected when dealing with a bogus broker, Group 500 doesn’t let clients withdraw their funds. According to Group 500 reviews, clients can invest their funds at any time. As a matter of fact, they are being encouraged to invest more and more. But once they want a payout, their accounts are being suspended, the account manager is suddenly unavailable, while the support department doesn’t answer emails or phone calls.

Beware of Group 500 scam and do not accept any offers coming from this broker.

So, you should avoid Group 500 forex broker and similar brokers such as Affluent Trade, Tredexo and BTCADA.

Bad Reputation Frozen in Time

Since the website was taken down, many ratings platforms like TrustProfile have withdrawn their dedicated company pages. The TrustPilot reviews still remain, however, although it’s impossible to post any new comments, with a similar situation developing on SiteJabber.

It seems that amid all of the complaints about failed Group 500 withdrawal requests, the company was in full damage control mode. It seems that the review seller networks remained on the sinking ship until the final moments, but to no avail.

How Does Online Trading Scam Work?

Unfortunately, with an increased number of online trading assets, cryptocurrencies entering the market as an unregulated asset itself, and offshore countries providing a safe haven, there’s been a lot of online trading scams. All of them start from an ad showing what you could possibly have. But the problem is not to make it; it’s to withdraw your funds. Making a profit, believe it or not, has become the easiest part of the process. A bit of following the news and reading charts can launch you to tremendous profits. If you’re dealing with fraud such as Group 500, you will never see this profit in your bank. And that’s an actual issue with online trading. Since many companies are unregulated, traders need to look for alternative money-back solutions and fight on their own.

Scammed by Group 500?

If you are a victim of a Group 500 scam, let us know. Our support department will schedule a free consultation where the experts of chargeback procedures will evaluate your case and help you file a dispute.

But what is a chargeback?

It’s a way for you to get your funds back to your credit card if you can prove you were scammed. For that, it’s best to let professionals collect the evidence and file a dispute for you.

Contact us via online chat immediately, and let’s get started before it’s too late.

What is Group 500?

Group 500 is an online trading brokerage without a license or a regulation.

Is Group 500 a scam?

Yes, Group 500 has been marked as a scam in the UK and Switzerland by official authorities.

Is Group 500 regulated?

This trading platform doesn’t have any kind of regulation for providing financial services.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Comment link copied