FOREX

HBC Markets Review: Is Hbc-markets.com A Safe Broker Or A Scam?

Hbc-markets.com Review: this is the website of HBC Markets, a Forex broker that claims to be operating in the United Kingdom. Is it safe to invest funds in HBC Markets? Consider our reviews and see our expert take on this.

The most vital part of our reviews is uncovering if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

HBC Markets mentions that it is based in the United Kingdom. Forex trading in the UK is under the jurisdiction of the FCA and every broker in the region has to obtain a trading license from it. However, when we checked, we found that the FCA does not actually regulate HBC Markets.

Additionally, further investigation of its website turned up the fact that HBC Markets also claims to be operating from the Marshall Islands. This is an offshore location where trading is lax and not tightly regulated.

Thus, we conclude that this is an unlicensed broker. Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of HBC Markets

HBC Markets makes the usual claim of offering users the best in the Forex market. From fast trade executions to high-tech technology and so much more.

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It is common for Forex brokers to claim that they provide the best trading environment in the market. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

HBC Markets Trading Platform

The broker mentions that traders can get access to the MetaTrader 4 trading platform. Additionally, it also offers a web trader for those who prefer it.

We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots. Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

HBC Markets also mentions that traders can use such instruments as Forex currencies, commodities, indices and cryptocurrency on its platform. While this seems tempting, it is only mentioning it because legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The broker does not reveal the maximum leverage that it is offering to traders. It is important to note that while some leverages may seem generous, it is not advisable. High leverages can lead to huge loss of funds for inexperienced traders.

HBC Markets says that it offers spreads as low as 0.1 pips. Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

HBC Markets Deposit and Withdrawal Methods

We found that HBC Markets supports deposit via visa, Mastercard, Skrill, Neteller, WebMoney and bank transfers.

One of the characteristics of a legit broker is allowing deposits and withdrawals available via many trusted financial platforms like Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is €20. This is not surprising many legit brokerages require between $100 – $250 or even lesser. HBC Markets has some withdrawal conditions that appear dubious.

For one, you can only withdraw €3000 or more via bank transfer. There is also a 10% fee for dormant accounts after 6 months of inactivity. In addition, HBC Markets offers bonuses whether you want them or not. Also, profits made from trading with this broker cannot be withdrawn.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is HBC Markets Licensed?

No. HBC Markets is not a licensed brokerage and cannot be trusted. It tries to pass itself off as an authorised broker but it turns out that this is false.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get in touch with this Forex broker send an email to: support@hbcmarket.com

Conclusion

HBC Markets has proven to be a broker unworthy of trust and thus, we rate it low. It also does not reveal enough information for us to go on with and tries to falsify some claims. Do not invest with any company that falsifies claims and hides many of its trading conditions.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

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HBC Markets

2.5

TRADING CONDITIONS

4.0/10

LICENSE

1.0/10

CLIENT REVIEW

1.0/10

CUSTOMER SUPPORT

4.0/10

Pros

  • Solid spreads
  • Affordable minimum deposit
  • MT4 trading platform

Cons

  • No license/offshore broker
  • Unclear trading conditions
  • Unfair withdrawal conditions
Summary
Review Date
Reviewed Item
HBC Markets
Author Rating
11stargraygraygraygray

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