HND Global Review
It is a given that you would have to sign up with an online broker to trade instruments in the financial markets. There are hundreds of thousands of instruments that can be quite profitable, but you cannot take advantage of the opportunities without the right platform. The problem is that the online world has its fair share of scams and you have to navigate the markets carefully in order to avoid becoming a victim. Most people are so eager to get started that they fail to check the company thoroughly and regret it later when they are left empty-handed. Checking this HND Global review ensures that you don’t have to face such consequences.
A look at HND Global Limited can tempt anyone who wants to trade because they are offering a wide variety of trading instruments on their platform, along with the market renowned trading software i.e. MT4. But, does this mean you should sign up with them right away and not take a closer look? Doing so would be a bad idea and the following review can help you understand why:
False regulation claims
It is understood that traders are seeking regulated and licensed brokers because they have realized that chances of getting scammed by such platforms are really law. This is because they are supervised by regulatory authorities and have to comply with strict rules and regulations. Therefore, scam brokers have now adopted a new tactic of making false regulation claims and this is exactly what you will find at HND Global.
According to HND Global’s website, they are based in London, United Kingdom and are supervised by the British government. This is a clear lie because the regulatory authority in the UK is the Financial Conduct Authority (FCA) and not the government. A check of the FCA’s online register shows that HND Global Limited is not listed anywhere, which means it is not regulated and is only pretending to be.
Moreover, a further study of its other offerings show that it is in breach of regulatory policies of the FCA, which means they cannot operate in the UK. For instance, HND Global is offering crypto CFDs to its clients, which have been banned in the UK for more than a year now. This clearly indicates that the company is lying about its regulatory status and is not one to be trusted.
No Terms and Conditions
When you sign up on any online platform, you have to agree with their Terms and Conditions. The same applies to brokers and traders usually check these out before making an account. Why? This is because these legal documents indicate what fees you will be charged, the kind of conditions you are expected to meet and other relevant details. Unfortunately, you will find that HND Global has not provided any such Terms and Conditions on its website, which means you have to agree to them blindly and not know what you will be asked. No authentic brokerage would ever do that.
Extremely high leverage
You will discover that HND Global is offering high leverage ratios of 1:500 and some traders would undoubtedly find this attractive. However, you shouldn’t forget that there is a huge risk associated with such high leverage levels. Most importantly, it is not possible for HND Global to offer this kind of leverage if it is really based in the United Kingdom. This is because, as per the rules of the FCA, retail traders can only be offered leverage of as much as 1:30 and anything higher than that is forbidden due to the risk.
You will not find any information about minimum deposit on HND Global’s website and there is no way to confirm if they really offer all the payment methods they claim to support. With so many issues with the broker, it is obvious that signing up with HND Global is not the right decision.