HQ Broker Review
The offshore-based HQ Broker is not interested in disclosing its trading conditions. However, the four trading accounts and minimum deposits required to open each account can be seen on the broker’s official website. Our research found out that the provided leverages and spreads are high. Such higher spreads and leverages act as a double edge sword. They can be beneficial in trading or incur a huge loss. Furthermore, the broker is registered in the Marshall Islands. Besides its registration, we came across several problems of this broker. In this HQ Broker review, we will discuss them all together. So, stay tuned.
About HQ Broker:
The four live trading accounts provided by HQ Broker are Regular, Silver, Gold, and Platinum. The higher initial deposits of $250, $5,000, $20,000, and $1,00,000 are required. The trade size of 0.01 lots is provided on each account. First two account offers leverage of 1:400, and last two accounts offer leverage of 1:1000. The spreads are varying from 0.8 pips to 1.2 pips according to account type.
The brand HQ Broker is owned and managed by Hokkaido Investments SP a company registered in Warsaw, Poland. Unfortunately, the company is not licensed to provide brokerage services. However, the term and conditions section on the official website indicates other company called Capzone Invest LTD situated and incorporated on the Marshall Islands.
The Marshall Islands-based brokers are not legit and most of the times involved in brokerage frauds. We have always made sure to inform about scam brokers hot spots around the world and Marshell Islands is one of them.
Just like many brokers, HQ Broker provides trading platform MetaTrader. It is the first choice of any trader. MetaTrader has many advanced features that are meant to help traders for smooth and active trading. Nevertheless, having MetaTrader does not mean the broker is regulated or licensed. The fact about HQ Broker remains the same; it is an unregulated entity. Almost every payment and withdrawal methods are incorporated in HQ brokers offerings.
Is HQ Broker scam or legit?
The broker we are dealing with is an unregulated entity and can be a potential scam. The trading conditions are not attractive and can cause huge loss. Also, information about the trading environment is hidden on the website, and no legit broker does that. In our view, the HQ Broker is a potential Australian trading scam. It must be avoided at any given time.