HMD FX is a forex broker that claims to offer a variety of trading services, including CFDs, forex, and commodities. However, there are a number of red flags that suggest that HMD FX is a scam broker.
HMD FX is a relatively new broker, founded in 2022. The company is registered in the St. Vincent and Grenadines, which is a known offshore financial center. HMD FX does not have any licenses from any reputable regulatory authorities.
Their website is not currently available, the information collected from external resources
Does HMD FX Have Any License?
No, HMD FX does not have any licenses from any reputable regulatory authorities. This is a major red flag, as it means that the broker is not subject to any oversight or regulation.
Is HMD FX Regulated By Any Authority?
No, HMD FX is not regulated by any authority. This means that there is no governing body to oversee the broker’s activities or protect investors’ funds.
Pros and Cons
- HMD FX offers a variety of trading instruments, including CFDs, forex, and commodities.
- The broker offers a demo account, which allows traders to practice trading without risking any real money.
- They offer a variety of educational resources, such as webinars and tutorials.
- HMD FX is not regulated by any reputable regulatory authority.
- The broker has a history of negative reviews from former clients.
- This broker has been accused of using fake trading signals and other fraudulent practices.
How Does HMD FX Reach To Their Prey?
HMD FX targets new traders who are looking for a way to make money in the forex market. The broker uses a variety of methods to reach its target audience, including:
- Advertising on social media and other online platforms.
- Offering free trading signals and other educational materials.
- Cold calling potential clients.
The minimum deposit requirement for HMD FX is $200. This is relatively low compared to other forex brokers.
They offer the MetaTrader 4 trading platform. This is a popular platform that is used by traders around the world.
The spreads offered by HMDFX are not competitive. The average spread for EUR/USD is 1.5 pips.
HMDFX offers leverage up to 1:500. This is a very high level of leverage, which can be risky for traders.
Packages and Products They Offer
HMDFX offers a variety of trading packages, including:
- The Basic Package: This package is for beginners and offers a small number of features.
- The Standard Package: This package is for more experienced traders and offers a wider range of features.
- The Premium Package: This package is for professional traders and offers the most features.
Withdrawal and Deposit Method
HMD FX offers a variety of withdrawal and deposit methods, including:
- Credit cards
- Debit cards
- Wire transfers
What Do Their Previous Traders Say?
There are a number of negative reviews about HMDFX online. Former clients have complained about the broker’s high fees, poor customer service, and fraudulent trading practices.
Summing Up- Why Should Not You Trust HMD FX
There are a number of reasons why you should not trust HMD FX. The broker is not regulated by any reputable regulatory authority, it has a history of negative reviews, and it has been accused of using fraudulent trading practices.
If you are looking for a forex broker, it is important to choose one that is regulated by a reputable authority. You should also read reviews from other traders before making a decision.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to HMD FX, you may be able to recover your funds through a chargeback or a refund. You can also contact a financial recovery service for help.
File A Complaint Against Scam Broker's
HMD FX is a scam broker that should be avoided. If you are considering trading with HMD FX, I urge you to reconsider. There are many other reputable forex brokers that offer better services and lower risks.
I hope this article has been helpful. If you have any further questions, please feel free to contact me.
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