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Hydra Markets Review - Is it scam or safe?

Hydra Markets Review - is hydramarkets.com scam or safe forex broker?

RATING: 1.5 / 1 REVIEWS ForexBrokerz Hydra Markets
Hydra Markets is an offshore broker. Your money is not safe.

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Trading Accounts

 

Account type  

Minimum deposit 

Minimum trade size

Maximum leverage

Average Spreads

Standard

$100

0.01

1:1000

1.2 pips on EUR/USD

ECN

$100

0.01

1:1000

0.6 pips on EUR/USD+ commission $6 per standard lot (round trip)

 

Both accounts offered by this broker provide investors with the chance to trade in lower risk micro tradable lots, with variable spreads and with leverage up to 1:1000 on the MetaTrader4 platform. The Standard account provides spread with mark-up, while ECN spreads are tighter, but a commission of $3 per lot applies (per side).

 

Swap-free service is available on Standard accounts to traders of Islamic belief unwilling to pay/earn interest for religious reasons. In addition, Hydra Markets offers PAMM services to investors and money managers.

 

The Company. Security of funds

 

Hydra Markets is a pure STP broker, offering trading in wide range of currency pairs and various CFDs, as well as precious metals, on the globally recognized MetaTrader 4 platform.

 

Established in 2015 in Georgia, this Hydra Markets is a brand owned by Georgia-based Hydra Markets LTD. Due to its location, the brokerage operates without a license.

 

Nonetheless, according to its website, Hydra Markets maintains isolated client accounts to ensure that client funds are fully segregated from the company’s own funds. We don`t know whether this is true and there isn’t any authority to check or supervise this either.

 

So, if you intend to invest a large amount of money, we would advise you to select among brokers regulated in the UK, Cyprus or Australia, for instance, where the respective financial watchdogs are on alert and there are compensation schemes covering losses in the event of broker insolvency.

 

Trading Conditions

 

Minimum Initial Deposit

In order to open an account with Hydra Markets, one has to deposit $100, which is an average minimum initial deposit. For instance, offshore brokerage FxChoice also requires $100 from its clients as a start.

 

Average Spreads & Commissions

As a pure STP broker, Hydra Markets offers variable spreads. The ones on the commission-free accounts are averaged 1.2 pips on EUR/USD, while typical ECN spreads amount to 0.6 pips on EUR/USD, and involve a commission of $6 per standard lot round turn. So basically average trading costs trading costs per lot for this pair amount to around 1.2 pips on both account types, which is average for the forex market.

 

In fact, the pricing of FxChoice is similar: the brokerage offers variable spreads averaged 0.5 pips + $7 for 1 lot round trip on its Pro accounts, while spreads on the commission-free accounts are averaged 1.2 pips for the EUR/USD pair. For further information, you may look up and compare real-time spreads of 15 leading brokers here.

 

Maximum Leverage

The maximum leverage rates offered by this broker are one of the highest in the industry, reaching 1:1000. Although some jurisdictions cap leverage to levels significantly lower than this (1:50 in the US), many forex brokers offer leverage equal to or exceeding 1:500.

 

Traders, however, should be careful when using higher the leverage levels, for they involve greater risk of heavy losses.

 

Actually, maximum leverage levels offered to clients of Hydra Markets are dependent on their account balances:

 

 

Trading Platforms

 

Like most FX brokers, Hydra Markets supports the world’s leading trading platform MetaTrader 4 (MT4), which is fully customizable for just about any trading situation, skill level and preference. With this broker, it is available as desktop, and mobile version.

 

MT4 enables traders to use professional charts, technical analysis indicators, self-made or custom Expert Advisors (EAs), as well as to copy the trades of successful investors.

 

VPS services are also available with this broker.

 

Payment Methods

 

Hydra Markets’ clients are offered an array of payment methods: Wire Transfer, Credit/Debit card and e-wallets, such as Skill & Neteller, as well as a choice of USD, EUR, GBP & PLN currency trading accounts.

 

Conclusion

 

Hydra Markets’ offering seems attractive: STP technology with market execution and reasonable pricing on the MT4. However, our main concern with this Georgia-based forex broker is its non-regulated status. Here are, in a nutshell, the Pros & Cons with regard to this broker:

 

Pros

Cons

Tight spreads and competitive pricing

Not regulated

Pure STP model

MT4 available

 

High leverage levels available

 

 

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Traders` reviews for Hydra Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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