I usually play with a bad ping (500 to 700) So I want to ask if it is anyhow related to my internet connection (if so I will get a better one) or it's affected by how far I am from the server?

I cant tell you that getting a new ISP will even help you for the simple fact you might not live in the US and changing ISP will not all ways fix your problem with latency. You have to take in account how far you are to the server and how good the lines are.
Their are huge factors in how good your connection is, and one of them is the distance between you and the game servers.
If I was you go to speedtest.net and see how good your ping to CA is.

*******http://www.speedtest.net/result/998127456.png********

Connection speed is a factor, but not the only one. It all depends on:

- Your ISP (Some can use traffic shaping to make browsing quicker than gaming/downloading)
- Your line quality (as mentioned above)
- Your distance from the server (as mentioned above)
- Your local connection (EG: Faulty wireless might result in high ping)
- Your speed
- How many people are using your connection

There's probably other factors I'm missing, but the above sounds good. Pingtest.net also, to a CA server, to see how you get on.