Hex Option Review
The online broker you choose for your trading needs can make a significant difference, not just in your experience, but your performance as well. This is because they offer you the software and conditions for trading, which has a direct impact on your profits. Therefore, it is not a decision that you should make without proper research because it can cost you in the long run. You have to find a professional broker and this means doing some homework. Checking out this Hex Option review is one avenue you can explore.
Hex Option is one of the brokerages you will come across when you begin searching and a quick glance at their website is quite misleading. You may think they are a reliable and professional company, but as soon as you begin digging in, you can see that they are only masquerading as one. Go over the red flags you will come across when you check the Hex Option website thoroughly:
Licensing and Regulation
Most brokerages are aware that potential clients check the licensing and regulation of companies before they sign up. This is one of the reasons that Hex Option has decided to claim to be regulated by the Cyprus Securities and Exchange Commission (CySEC). This is one of the well-respected regulators in Europe and getting a license from them is no easy feat.
However, if you do a follow up and check the license number that’s provided by Hex Option on their website, you will come to know that it has been issued to IQ Option, which was a renowned binary options broker. Now that binary options are banned in the EU, IQ Option no longer operates in Europe, but its license is still valid and Hex Option is using it to pretend to be licensed. This indicates that the broker is up to no good because it is lying about something as important as regulation.
Terms and Conditions
Checking the Terms and Conditions of a broker is a must because they highlight what policies you will be asked to comply with, the rules you will be expected to follow and other conditions that you will be offered. It ensures that you don’t have to deal with any hidden surprises when you are using a broker’s services. Therefore, it is such a big red flag to discover that Hex Option has not provided any Terms and Conditions on its website. This is not something a legitimate brokerage would ever do. Hence, you will have no idea what fees they will charge, or what malicious restrictions they will impose.
You want to know what leverage you will have at your disposal because it affects your performance, but Hex Option has not disclosed this important trading condition on their website. This is undoubtedly disappointing and also an issue because authentic and professional brokers are transparent about the conditions they provide.
The problem with the trading platform at Hex Option is that it is not the MT4 or the MT5 trading solutions, which are recognized as the top ones in the market. They claim to offer a platform of their own and you have no idea how it will perform. Nonetheless, it is highly unlikely that it will come close to the offerings of the sophisticated and advanced MetaTrader solutions that are the leading options in the market.
Checking the payment methods offered by a broker is also necessary because you want to ensure they are safe and convenient. This is another area where Hex Option has chosen to be secretive, as they don’t mention what payment methods they offer. It is quite alarming because you don’t want to be stuck with options like wire transfers and crypto because these payment methods don’t offer a chargeback option in case of a problem.
All of these are clear signs that Hex Option is not a professional broker and should be avoided altogether.