HD Markets Review – Watch Out For HD Markets Trading Scam!

As of May 2023, the broker (hdmarkets.com) has ceased operations. But you can read the article to avoid falling for similar scammers.

HD Markets Regulation and Security

The main website of the broker mentions the regulation of HD Markets. According to the broker, they are regulated by the FAIS Act. The broker claims to be based in South Africa, but we cannot confirm this as the company owner is not listed anywhere. Therefore, the broker requires FSCA regulation.

What’s wrong with HD Markets Regulation?

We checked both the FAIS and FSCA registries. We could not find HD Markets anywhere. This is a scam brokerage and should not be used to open an account.

What trading platforms are available?

One positive thing about HD Markets’ trading platform is this: The broker uses MT4, one of the most trusted platforms for traders. However, this has not been without problems. Customers complain that the platform does not work properly and trades are not closed on time.

The spread is 1.7 pip for the EUR/USD pair. This spread is higher than all other regulated brokers.

Now let’s talk about the leverage. This is the biggest surprise of all. The scam broker offers its clients leverage of up to 1:1000. You can imagine what could happen if you consider that about 70% of trades in an average company are losses. It is not possible for regulated brokerage firms to offer leverage greater than 1:50.

What can you trade with this broker?

This is a difficult question. The broker claims to offer CFD trading in addition to Forex trading. What CFDs are offered, how many, and what are the conditions for CFD trading? We did not have an answer to all these questions.

We were also confused by the broker’s minimum deposit. On one website it is stated that it is $20. However, in the terms and conditions it says that the minimum deposit is $50. This is a strange situation for a supposedly licensed broker.

The broker accepts cash deposits when there are not enough red flags. Online transactions should be made with your credit or debit card to protect against fraud. You can request a chargeback within 540 days of a cyber fraud.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to begin the process. Let’s have a free consultation to discuss how we can get your money back right away!

HD Markets: Video

Below you will find a short video about HD Markets. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about HD Markets!