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HD Markets Review – There Are Many Victims of This Scam Broker

HD Markets | 2022-02-24 13:32

Abstract：After we came across the HD Markets website, we have been amazed by the lack of information. There is absolutely no information regarding deposits, withdrawals, fees. Is HD Markets regulated? Let’s see.

Read our HD Markets review and find out why there are so many complaints about this shady brokerage.

Broker status:	Unregulated African Broker
Regulated by:	No Regulation
Scammers Website:	hdmarkets.com
Broker Owner:	N/A
Headquarters Country:	South Africa
Foundation year:	N/A
Supported Platforms:	MT4
Minimum Deposit:	$50
Cryptocurrencies:	No
Types of Assets:	Forex (FX), CFDs
Maximum Leverage:	1:1000
Free Demo Account:	Yes
Accepts US clients:	No

HD Markets Regulation and Security

On the main page of the broker‘s website, there is a mention of HD Markets regulation. The broker stated to be regulated under the FAIS Act. However, since the broker states to be based in South Africa (and we couldn’t confirm it since the company owner is not listed anywhere), the broker needs FSCA regulation for its operations.

Whats Wrong With HD Markets Regulation？

Weve checked the FSCA register as well as the FAIS register. Nowhere we could find HD Markets listed. Be aware of this when opening an account with this not legit and not a trustworthy brokerage.

We also recommend staying away from scammers, such as FTM Global Market, IQMarketsCFD and HashTrade.

What Trading Platforms Are Available？

Here is one good thing we can say about the HD Markets trading platform. The broker is using MT4, one of the most trusted platforms among traders. However, even this did not come without issues. Clients are complaining that the platform does not function properly and trades are not executed in time.

The spread is 1.7 pips for EUR/USD pair, which is much higher than other, regulated brokerages are offering.

And now, we come to leverage. The biggest shock of all. This scam brokerage is offering its clients leverage of up to 1:1000. If you take into consideration that with an average company around 70% of trades are losses, you can imagine what will happen with the leverage of 1:1000. There is a good reason why regulated brokerages can offer only up to 1:50 leverage.

What Can You Trade With This Broker？

This question is quite a mystery. The broker states to offer Forex trading and CFD trading. But what CFDs are available, how many of them, what are the conditions for CFD trading？ We stayed with no answer to all of these questions.

We were confused by the broker minimum deposit as well. According to a website, its $20, while in Terms and Conditions it says the deposit is $50. Pretty weird for an allegedly regulated broker.

And in the end, if you didnt have enough red flags so far, the broker states to accept cash deposits. In order to be safe from fraud, you should use your debit or credit card for online transactions since with these cards you have the right to request a chargeback up to 540 days of the cyber fraud.

Broker Dealer Forex Broker

Related broker

Not Regulated

HD Markets

Company name：HD Markets

Score

1.53

5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.53

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