HSS Markets Review
As exciting as the prospect of online trading is, you need to be aware that there are more than the inherent trading risks you have to deal with. Finding a broker is a challenge in itself and not because there are a limited number of options, but because there are too many of them and all making big claims and promises. How do you navigate the horde? This is where people are often left flummoxed and end up opting for the wrong option, which leads to disastrous consequences. What should you do then? To find a good option, you have to do some due diligence and reading this HSS Markets review is one way to go about it.
Reading reviews of the broker you are thinking of signing up with can help you make the right decision. This gives you the opportunity to assess if the offerings of the broker are in accordance with what you are looking for and if not, you can just look for a different option. Secondly, it also helps you ensure the company is who it promises to be because scam and fraudulent brokers have increased tenfold in the last few years. HSS Markets has presented itself as a trustworthy brokerage. It claims to be a globally recognized industry leader that has more than 21 years of experience under its belt.
According to the HSS Markets website, it has received a number of awards and is providing its services to more than 10.7 million clients spread across five continents. Moreover, they claim to be one of the quickest developing brand in the world that was originally founded in the United States and has also been licensed and authorized in other prominent markets like South Africa, UK and Australia. It sounds spectacular when it claims to be one of the most trusted trading destinations in the world.
Nonetheless, you need to check every single one of these claims of HSS Markets before you sign up because it is a common tactic of scam brokers to add lucrative offerings to draw people in. Ready to find out? You can check the review below:
Licensing and regulation
As mentioned above, HSS Markets has presented itself as a properly licensed and authorized brokerage in a number of jurisdictions. All you have to do is verify this licensing and this is extremely easy to do because regulatory authorities now have online registers. As per the claims, HSS Markets is authorized in the United Kingdom, which means by the Financial Conduct Authority (FCA), in South Africa, which means the Financial Sector Conduct Authority (FSCA) and the Australian Securities and Investment Commission (ASIC).
Moreover, they have also claimed that they are registered in the United States and licensed for more than 15 years. This would mean that HSS Markets have a license from the Commodity Futures and Trading Commission (CFTC) and are registered with the National Futures Association (NFA). You can check every single online register of these regulatory authorities and not find HSS Markets mentioned anywhere. Plus, since they haven’t bothered to disclose the company that owns and operates the brand, you cannot search for that specific name.
False claims and FAQs
The fact that HSS Markets is lying about its licensing is enough to concern anyone. No legitimate brokerage would obviously do that and it should immediately send up a red flag. What makes it worse is that there are other problems with the brokerage as well. You can find these when you go through the claims they have made on their website. They are promising high returns and multiplying your wealth in no time.
However, you should be aware that no authentic brokerage would ever make such promises. This is because the financial markets are volatile and unpredictable and even the most experienced traders cannot guarantee you any profits in the long run. The fact that HSS Markets is making such promises should immediately trigger an alarm because professional brokerages are actually required to warn their users about the risks, instead of making such claims.
Secondly, you will find another problem in the FAQ section on the HSS Markets website. They state that after you have submitted a withdrawal request, they will contact you to follow some steps. Of course, there is no information given about what steps have to be followed and the clause itself doesn’t make any sense. Usually brokerages process the request within 24 hours of submission, so this delay shouldn’t happen. It is evident that this is just a tactic to prevent you from making withdrawals.
Another issue that you will find with HSS Markets is the leverage they are offering, which is 1:500. Yes, this sounds like an impressive ratio and can be very lucrative, but you should remember that it is very risky. Most importantly, if HSS Markets was really a legitimate and regulated brokerage, it wouldn’t be able to offer such excessive ratios. Such high leverage ratios are prohibited in regulated jurisdictions and cannot be offered to traders.
The trading platform offered by a broker is one of their most important features and HSS Markets claims to be offering a world class option to you. However, the reality is that they have a cheap-looking, web-based trading platform that doesn’t appear to be offering much to the users. The fact is that most legitimate and professional brokerages would be offering a professional trading solution like the MT4 or the MT5.
These are the top two trading platforms in the market and are a favorite of traders because of their advanced technology and ton of powerful trading tools they offer. The fact that HSS Markets promises a great platform and doesn’t deliver is another warning sign that the broker is not what it claims to be.
When you have taken into account the numerous ways that HSS Markets is trying to mislead its clients, it is easy to conclude that this platform cannot be relied upon and doesn’t really have your best interests at heart.