HWG review – Is HWG scam or good forex broker?

Is HWG legit？

No. HWG is not legit, because they are a unregulated, offshore broker, and by definition a unregulated, offshore broker can not be legit. Check our list of UK regulated brokers instead.

The company behind Hwg – HWG is said to be based offshore on St. Vincent and the Grenadines, which basically means that you will never know who the real owners of the broker are. Offshore companies are registered exactly to provide anonymity and to make any legal action against them extremely difficult if not impossible.

And because we are talking about an offshore broker, the other major problem is the lack of a legit forex license. A legit license issued by an official and reputable financial regulator like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or let say the Cyprus Securities and Exchange Commission is your only insurance against scammers.

This is because regulated brokers are subject to strict supervision and have to follow strict rules, when dealing with clients – both fiscal and ethical. So, when choosing a new broker make sure it has a legit license, by checking the registers of the respective regulator.

And never take for granted anything a broker might tell you, if you have not verified that it is licensed and authorized.