Hbc-markets.com is an offshore broker website that claims to provide some of the best forex trading experience. On the contrary, this HBC Markets is an offshore broker, and we advise you read the HBC Markets broker review to understand why.
In our bid to keep forex traders from scam brokers, we’ve made it our duty to review forex broker websites. That way, we can help you tell which one is legit and which one isn’t. This review tells you all you need to know about HBC Markets.
About HBC Markets Broker
HBC Markets is a forex brokerage company, founded, according to the website, by a group of very experienced traders. They claim to trade forex, commodities, indices and equities. Somewhere at the footer of the hbc-markets.com, a supposed parent company name is given as “Zentrale Zahlstelle Ltd”, while the address is located in London, England. Meanwhile on the ‘Contact Us’ page, the address present is Majuro, Marshall Islands.
Inconsistencies like this led us to look further into the website. The results of this inspection however, was less than ideal.
Hbc-markets.com: Shady Elements Discovered
Here are some questionable facts we found upon inspection of Hbc-markets.com.
HBC Markets Withdrawal and Deposit
The minimum deposit amount for HBC Markets is 250 EUR. The payment gateways available include debit/credit cards and wire transfers. FXBulls actually have an impressive minimum deposit amount. On the flip side, the minimum withdrawal is an outrageous 3000 EUR. It is stated that this withdrawal amount could be subject to various fees. However, these fees are not stated, and vague fees are a strong illicit broker characteristic.
The withdrawal is also said to take up to 5 days, which is extremely long and unnecessary compared to the 24 hours required by legit brokers. There are various other ridiculous clauses attached there, including a 10% dormancy fee for accounts that are inactive for up to 6 months.
Worst of all, there’s a clause, as is popular with shady brokers, that prevents brokers from withdrawing trade profits. They refer to the profits as ‘Non-Deposited funds’ and state that HBC Markets broker reserves the right to reverse any transaction involving you withdrawing non-deposited funds. RED FLAG!!!
Hbc-markets.com Trading Platform
Hbc-markets.com attaches a single nice thing to it’s name; the Metatrader 4 trading platform. Metatrader 4 is the most popular trading platform in the forex industry today. For lots of reasons, this platform has topped the forex market for a long time. Even its successor; Metatrader 5, has been unable to completely replace it. Offshore broker or not, HBC Markets does itself good by employing this platform.
Furthermore, some of the trading conditions presented by this broker include a maximum leverage of 1:100, and a spread of up to 0.6. Make no mistake, these are really good trading conditions. However, the worry starts after realizing this broker claims to be located in the UK. Meanwhile, the FCA has set a maximum leverage of 1:30 for brokers within the UK.
HBC Markets Licensing and Regulation
As earlier stated, the footer of HBC Markets’ website points it to London, England while the ‘Contact Us’ page says Marshall Islands. Firstly, Marshall Islands is an offshore forex zone. This is because they do not have a financial agency that regulates forex brokers. Due to this, the area has become a popular one amongst shady brokers and brokers there are not to be trusted.
On the other hand, the United Kingdom has the FCA, one of the most reputable regulatory bodies in the forex market. However, even after checking the FCA registry, no reference to HBC Markets or even Zentrale Zahlstelle Ltd is mentioned.
There is a mention of the broker following the laws of Estonia somewhere in the terms and conditions. However, at this point, it is already quite clear that HBC Markets is an UNREGULATED broker.
Conclusion: Is Hbc-markets.com a Legit Broker?
No! Hbc-markets.com even has problems deciding where they are located, providing at least 3 conflicting addresses. Furthermore, their Terms and Conditions contain vague, outrageous fees. Most importantly, HBC Markets is UNREGULATED!!!
For this reason, any funds you deposit with this broker is at maximum risk. We do not recommend that you trade with this broker. We advise you deal with a transparent broker who’s licensed by a reputable agency.
If however, you wish to add something else about this broker, feel free to use the comments section.
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