Beware HBC Broker is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: MPG INVEST Limited
- Registration/license: Vanuatu
- Registration/license requirement: USD 2,000
HBC Broker is a brokerage firm that offers forex and CFDs on commodities, indices and stocks. The website of the company states that it is owned and operated by several companies (Trading Point Holdings Ltd, Trading Point of Financial Instruments Ltd, Trading Point NZ Ltd) and regulated by FCA in the United Kingdom, ASIC in Australia and CySEC in Cyprus. This information is identical to the one provided by XM broker, reputable and well-regulated entity. There are no records of the HBC Broker’s licenses with any of the mentioned regulators, which means that the company is just a fraud that tries to use the credentials of the regulated broker.
Also, after checking terms and conditions on the website, it turned out the HBC Broker is actually a brand name of the MPG INVEST Limited, located in Armenia, but registered in Vanuatu – a popular offshore destination for the unregulated forex brokers. It’s now obvious that the company uses a well-known scheme for the unregulated offshore brokers.
And last but not least, the UK’s Financial Conduct Authority has issued a warning against HBC Broker:
“MPG Partners (trading as HBC Broker) is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization.”
We don’t recommend to trade with HBC Broker or any other unregulated financial entity as they are not bound by any financial or ethical rules. It is better to choose among the brokers who are regulated by the reputable regulators such as FCA in the United Kingdom or CySEC in Cyprus. Check the CySEC-regulated brokers here.
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