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HBC Broker Review - Is it scam or safe?

HBC Broker Review - is hbcbroker.com scam or good forex broker?

RATING: 2 / 7 REVIEWS ForexBrokerz HBC Broker
HBC Broker is an offshore broker. Your money is not safe.

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Trading Accounts

 

Account type  Minimum deposit Maximum leverage Spread
Silver

$250

1:400 3 pips, fixed
Gold $3000 1:400 3 pips, fixed
Brilliant $25,000 + 1:400 3 pips, fixed

 

HBC Broker offers three different account types with fixed spreads. The company offers forex and CFDs on commodities, indices and stocks. 

 

The Company. Security of Funds

  

Company Country Regulation
MPG Invest Ltd. Vanuatu VFSC

 

HBC Broker is a trademark of MPG Invest Limited, which is licensed in Vanuatu. Trading with an offshore regulated broker is something we generally do not recommend. As you may know, different countries have different regulatory agencies who impose rules on the companies who operate there. The efficiency of these watchdogs varies drastically from one jurisdiction to the next. Offshore companies are presumed to be under less stringent rules. 

 

More reputable regulators enforce harsher conditions. The Financial Conduct Authority (FCA), for instance requires brokers to participate in the  Financial Services Compensation Scheme (FSCS). This is a mechanism which guarantees clients’ funds up to GBP50,000 in case the broker goes bankrupt. This is something you do not get with VFSC.

 

Trading Conditions

 

Minimum Initial Deposit

HBC Broker requires a minimum of $250 for a client’s initial deposit. This is slightly above the industry standard of $100. We must note, such deposits are too small for effective trading in the global financial markets. 

 

Average spreads & Commissions

HBC Broker offers fixed spreads starting from 3 pips for EUR/USD. This is way out of touch with the current state of the industry. Most forex brokers offerig fixed spreads quote 2 pips for this pair. For further information, you may look up and compare real-time spreads of 15 leading brokers may be viewed here.

 

Leverage

HBCBroker offers a 1:400 leverage ratio. This is relevant to the current offers by other brokers, with  some offering 1:500 or even higher levels. XM for instance offers 1:888. 

 

As you may know, high leverage is a double-edged sword. It can increase your profits dramatically, but will also have a similar impact on your losses. Be sure to fully understand the principles and risks involved with margin trading, before you risk your capital.

 

Trading Platforms

 

HBC Broker offers MetaTrader 4 (MT4) to its clients. The platform is an industry staple at this point, having won lots of fans due to its simplicity. The ability to easily run automated systems (Expert Advisors, EAs) is one of its key strenghts.

 

On the other hand, the platform may suffer if you load too many instruments on it.

 

Methods of Payment

 

HBC Broker offers several deposit and withdrawal methods. They are: Bank Transfer, Credit/Debit Card, WebMoney, Neteller and Skrill. Whenever you are thinking about transferring money, keep in mind Bank transfers can take several days, while other methods are instant (at least when it comes to deposits).

 

Conclusion

 

HBC Broker is an offshore registered broker. The VFSC license is better than nothing, but is still below reputable regulations. Trading conditions at the broker are not good enough by today’s standard. A 3 pip fixed spread on the most liquid currency pair is just not relevant. Here are the advantages and disadvantages with regards to this broker:

 

Pros Cons
Lots of payment methods Offshore broker
MetaTrader 4 platform High fixed spreads
  No choice of trading platform

 

Latest news about HBC Broker
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK FCA MT4, Web,
ForexTrader,
Tradable
$50 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
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for HBC Broker

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

 

 

no return on my investment

I invested 500 dollars in 2016 October 30 and for the passed 2years I received no communication from you my cell number is still the same as I gave then. cell 0793004460 . can you please call me and tell me what the problem is . I have all the information that you need about my investments

kenneth m bokala 05/21/2019

Scammers

The biggest scammers out. Requested withdrawals many times with no success. Also beware of other companies claiming they can get your money back. Had several calls from these types of traders who can get your money back if you open another account for $150. When you ask them to email you details, no email ever eventuates.

JP 10/03/2018

Never trust offshore brokers

I deposited my money to my account ,and never head from them again

Phumlani Ndlela 10/13/2017

HBC Broker is a scam

I have been trading with them just for few months. But when I try to withdraw my money, it was impossible. They take of me 1050 $. And now nobody answer or speak with me.

HBC BROKER IS A SCAM!!!

Ralitza Raynova 08/22/2017

HBC Fxxker Company

Bunch of scammers who ask you to deposit money and kept pressing you . When initially they started saying to do trades with Low risk and Low money .

Next thing they start pressing you that gold opportunity is here and not to be missed . Fuck this people's life, karma must hit them hard

Joesph 07/19/2017

HBC Broker scam

Hbc broker is a scam company. they fucked me with a lot of money. they were asking me to put more and more until I got broker and I never saw any cent back. You will be never able to withdraw money from them. Fuck you HBC broker, you crew of scammers!

david kurtsikidze 06/18/2017

HBC Broker: Funds cannot be withdrawn

DO NOT TRADE WITH HBC BROKERS. THEY FALL OVER THEMSELVES TO GET YOUR MONEY, AND THEREAFTER NO CONTACT. FUNDS CANNOT BE WITHDRAWN. SCAM OF NOTE.

Gill Whittaker 06/07/2017
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