July 11, 2020

HQBroker Review – Is HQBroker Scam or Legit?

hqbroker review

Regulators: –

Cryptocurrencies: NO

Minimum Deposit: $250

Maximum Leverage: 1:400

Spreads: Low

My Score: 1.8

I can introduce you HQBroker now. As stated by the broker’s internet site, HQBroker powered by Capzone Invest Ltd. (Registration No. 92094).

A bunch of investors and traders based the newest in 20 17. The broker offers ancillary and investment services with a registered address in the Marshall Islands. However, the Organization is Situated at 7/F, Low Block, Grand Millennium Plaza, 181 Queen’s Road Central, Hong Kong

The broker’s site supports multiple languages like English, French, Spanish, Portuguese, Italian, and Russian.

In this HQBroker review, it is possible to locate the answers for the next questions: Is HQBroker scam or not? What are the accounts types supplied by this broker? How good will be the trading requirements such as spreads, minimum leverage and deposit? Can it be HQBroker regulated?

Regulation of HQBroker

The grade I consider to see whether your broker is valid or not is when the broker is regulated and licensed within their community country.

There is not any doubt HQBroker is a foreign broker. The most important problem of these foreign brokers is their own regulations. This ‘s why it’s very insecure to trade with this specific sort of broker.

Moreover, in accordance with the site of the broker, HQBroker won’t run any regulated process in Hong Kong while they aren’t licensed by the Securities and Futures Commission.

Based on the advice, I will express that the broker isn’t regulated. I warn you against authorised forex brokers. This is just one.

There are lots of professionally controlled forex brokers by probably the many reputable labs such as UK’s FCA, Cyprus’s CySEC or Aussie ASIC. These regulators necessitate several strict rules for brokers. By way of instance, the brokers must support your client’s capital in segregated accounts, separate from the organizations operating capital.

Also, Aussie forex brokers must maintain slightly 1 million since proof of monetary stability and UK-based brokers must sustain a net tangible stock of slightly EUR 730 000.

In the event of an FCA regulated broker go bankrupt, then its own customers are insured by the Financial Services Compensation Scheme (FSCS). The FSCS covers customers ‘ funds up to 50,000 in total.

Account Types and Spreads

HQBroker offers its clients five account types. These are Starter, Silver, Golden, Platinum, and Investor account types.

hqbroker account types

The Starter account has 250 USD minimum deposit requirement. Spreads are floating and from 1.2 pips on EUR/USD. The maximum leverage is 1:400.

The Silver account’s minimum deposit is 5,000 USD. Spreads are from 1 pip on EUR/USD. The maximum leverage is similarly 1:400.

The minimum deposit for the Golden account is 20,000 USD and I think this is high. Spreads are fixed and starting from 0.8 pips.

Moreover, the Platinum account offers fixed spreads starting from 0.8 pips, the minimum deposit is quite high, it is 50,000 USD. This account type also offers the similarly leverage, 1:400.

The last account type is Investor, it requires a 100,000 USD minimum deposit. There is no info about the spreads.

Trading Platforms

HQBroker provides the most popular trading platform MetaTrader 4 like most brokers. The platform is available on desktop, mobile devices, and web.

There are many features of MT 4. Some of them are:

  • User-friendly interface
  • The extensive list of stocks from all world marketplaces
  • Optimum execution without rejections
  • Expert Advisors(EA) capabilities
  • 1 CLICK trading enabled
  • Multi-language support
  • Advanced chart cools
  • Technical analysis

Trading Instruments

The broker offers a wide variety of shares to trade including; Forex / Currency pairs, Commodities (oil, gold, silver), Indices and CFD’s for stocks trading.

With HQBroker, you can trade up to 50 currency pairs on MetaTrader 4. HQBroker provides committed liquidity to the most traded share Derivatives, including Facebook, Apple, Amazon and Alibaba.

You can trade wheat, coffee, sugar, corn, copper, gold, silver, and oil through various spot and futures contracts with the broker.

Payment Methods

Deposit and withdrawal methods are very limited. You can deposit your account via Visa, MasterCard and major credit/debit cards or wire transfer.

Withdrawal methods are similarly but I want to say that the minimum amount for bank wire transfer is 50 USD and it takes 3-15 business days. There are no fees. The minimum amount is 0.01 USD for credit cards and it takes 3-7 business days.

Conclusion

As I said above, HQBroker is an unregulated offshore forex broker. If you trade with an unregulated broker, your investments may be at risk.

I always recommend you trading with a reliable forex broker for your fund’s security. If you are looking for a duly regulated and trustable forex broker, you can check my top forex brokers list.

HQBroker

2

Trust

1.0/10

Commissions and charges

2.0/10

Customer Service

3.0/10

Platform & Tools

2.0/10

Product Portfolio

2.0/10

Pros

  • MT4 endorsed

Cons

  • Unregulated broker
  • Payment approaches are somewhat restricted
  • Trading tools are restricted