de | cn | ru

Hamford Capital Review - is it scam or safe?

Hamford Capital review - Is hamfordcapital.com scam or good forex broker?

RATING: 1.8 / 1 REVIEWS ForexBrokerz Hamford Capital
Hamford Capital is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Hamford Capital is an introducing forex and CFD broker of Weltrade. However both companies are based in offshore territories and we have some pending questions about their regulatory status. You may find more details about their business model and the trading conditions they offer in the following review.

 

Account type Min. deposit Max. leverage Spreads
Micro Account $25 1:1000 1,9 pips, floating
Premium Account $200 1:1000 1,9 pips, floating
Pro Account $500 1:1000 0,9 pips, floating
Zulu Trade Account $100 1:500 2,9 pips, fixed*

*commission

Hamford Capital Advantages:

 

Leverage of up to 1:1000

 

Leverage of up to 1:1000, as offered by Hamford Capital through their partnership with Weltrade on their Micro, Premium and Pro accounts is basically as good as it can get. And while higher leverage may help traders score good profits with relatively modest deposits, it also functions as a two pointed sword – the higher the leverage, the higher the risk of loosing your funds much faster. Professional traders know that well and rarely trade with leverage exceeding 1:100.

 

Good variety of currency pairs, including some crypto CFDs

 

Hamford Capital offers some 47 forex pairs, including exotic currencies, such as Turkish Lira, Hong Kong Dollar, South African Rand, Singapore Dollar, Swedish Krona, Russian Rubla, Norwegian Krone, Mexican Peso, Hungarian Forint, Danish Krone and Chinese Yuan. The broker also offers CFDs on spot metals like gold, silver, platinum and palladium, 9 indices, oil and a number of CFDs with crypto coins, including Bitcoin, Ethereum, Litecoin, Monero, Bitcoin Cash, Zcahs, Dash and Ripple. Still, here you may check our list of brokers offering Bitcoin CFDs as well:

 

>>Bitcoin Forex Brokers<<

 

Cent account available

 

Hamford Capital offers a cent account, where all deposits, profit and loss are measured in cents, instead of dollars. Such accounts are preferred by traders implementing strategies like Martingale or Grid trading. Here you may also check our list of brokers, offering cent accounts:

 

>>Cent account forex brokers<<

 

You can start trading with just 25 USD

 

You can open a Micro Account with Hamford Capital with just 25 USD. For a Premium Account the minimum deposit is 200 USD, while for a Pro Account – 500 USD. And although those minimum deposit requirements do not look excessive, we should note that some well established brokers like FBS and IG do not have a minimum deposit requirement at all.

 

Various payment methods, crypto coins accepted

 

With Hamford Capital you can deposit and withdraw funds with major credit or debit cards like VISA, e-wallets like SkrillNeteller, Perfect Money, FasaPay, Wallet One, WebMoney, QIWI Wallet, Payza, Moneta.ru and Yandex, bank transfer and even crypto coins including Bitcoin, Ethereum, Litecoin, Zcash and Monero. Still as payments with crypto currencies are getting more and more popular here you may check our list of brokers accepting Bitcoins as well:

 

>>Forex Brokers Accepting Bitcoin<<

 

Zulu Trade available

 

Through their partnership with Weltrade, Hamford Capital offers their clients a Zulu Trade Account. Zulu Trade, being the most popular social trading platform, gives clients the opportunity to follow signals of professional traders for automatic control of their accounts. Here you may check our list of brokers, also offering Zulu Trade accounts:

 

>>Zulutrade Brokers<<

 

MetaTrader4 supported

 

Hamford Capital supports the MetaTrader4 platform – the classical platform, preferred by some 80% of traders world wide. Among its best known features is the option to run automated trading sessions with the help of specially designed trading bots – Expert Advisors, which, by the way, one can easily modify on a proprietary scripting language – the MQL4. Here you may check our list of brokers also offering the  MetaTrader4:

 

>>Find other MT4 brokers here<<

 

Hamford Capital Disadvantages:

 

Lack of regulation

 

Hamford Capital is owned and operated by ECN Prime Ltd. - a company based on the Seychelles, that says to be registered by the local  Financial Services Authority (FSA). 

 

Here we should note that even if Hamford Capital is registered by the FSA on the Seychelles, the kind of license they issue is not worth more than the peace of paper it is printed on. 

 

Note that you can get such a license online and you never have to visit the Seychelles. The only requirement is that you deposit 50 000 USD in a bank account on the island. However, the money are not blocked and can be withdrawn as soon as the license is issued.

 

There is a huge difference with the licenses, issued by well respected financial authorities such as  the  Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus or the Australian Securities and Investments Commission (ASIC), where brokers are required to keep a substantial minimum operational capital – 730 000 EUR with  FCA and  CySEC and 1 000 0000 AUD with ASIC. On top of that properly regulated brokers are required to keep all traders capital in a segregated, protected form creditors account and in some cases even to insure traders money.

 

With the FCA backed Financial Services Compensation Scheme for example, in case the broker goes insolvent, traders can receive back up to 50 000 GBP of their capital. Similar compensation scheme with the CySEC in Cyprus guarantees traders up to 20 000 EUR of their investment. Here you may check our list of brokers, also licensed by FCA:

 

>>FCA Regulated Forex Brokers<<

 

So Hamford Capital's license is basically worthless, but let us see what is the status of Weltrade, because as we have already mentioned Hamford Capital is an introducing broker of Weltrade.

 

Weltrade is owned and operated by Systemgates Capital Ltd. - a company based on the Saint Vincent and the Grenadines – another offshore territory, this time in e the Caribbean. Some years ago Weltrade were licensed in Belize, but they have lost their license and now say their activities are supervised and regulated by the authorities of Saint Vincent and the Grenadines. 

 

The Financial Services Authority (FSA) of St Vincent and the Grenadines, however, recently warned in a statement that it “does not issue any licenses for forex trading or brokerage or binary options trading nor does it regulate, monitor, supervise or license international companies, which engage in such activities“.

 

In addition the FSA warns that there are financial institutions that falsely claim they are registered or licensed by the institution and that “their purpose for doing this is more than likely for illicit reasons“. 

 

All that makes us very suspicious about the regulatory status both of  Hamford Capital and  Weltrade.

 

Uncompetitive spreads

 

As advertised on Hamford Capital web site the EURUSD spread with their Micro and Premium accounts should be floating around 1,9 pips. And although there is no commission on the trade, such spread is higher than what traders usually expect with starting accounts. Have in mind that acceptable spreads here should be below1,5 pips. 

 

Just for the record the EURUSD spread with Hamford Capital's Pro Account is said to be 0,9 pips. With the Pro Account, however, the minimum deposit is much higher. So here you may want to check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Conclusion:

 

Hamford Capital operates as an introducing broker of Weltrade. However, both brokers are not regulated and are based in offshore territories. As we already discussed proper regulation is crucial for the safety of any investment and that is the reason we can not give Hamford Capital a better grade.

Latest news about Hamford Capital
No news about Hamford Capital. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for Hamford Capital

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru