HSB FOREX Review

Is HSB FOREX Scam or Legit Broker?

No, HSB FOREX is not a reliable company. HSB FOREX is an investment company, yet its lack of a license raises suspicion regarding its legitimacy and regulatory compliance. The lack of information about registration leads us to believe that HSB FOREX is not regulated and is not overseen by any legal authority. 

• Trading with unregulated companies poses significant risks. Unregulated brokers operate without oversight from financial regulatory authorities. This absence of supervision means there are no guarantees regarding the fairness of trading practices, security of funds, or adherence to industry standards.

What is HSB FOREX?

HSB FOREX TRADE operates as an investment and stock trading firm with a global presence spanning nearly all countries worldwide. In addition to forex and crypto trading services, the company extends offerings to include lucrative and dependable investment contracts, ensuring daily payouts across all investment packages. HSB Forex offers a maximum of 1:1000 leverage. The company offers scalping and hedging, and provides stop-loss protection.

• However, upon examination of the company's website, it was observed that in certain articles, particularly in the FAQ section, the company is referred to as Daxtradefx. This suggests that at some point, the company may have operated under the name Daxtradefx. However, there is no explicit mention or acknowledgment of this transition on the website.

Our further research revealed additional details about the broker and helped us gain insights into various facets of HSB Forex Trade’s operations.

• Lack of regulation: Regulation helps safeguard investors by ensuring that financial firms adhere to specific standards of conduct, transparency, and accountability. This reduces the risk of fraud, misconduct, and mismanagement, providing investors with greater confidence in the financial system. We found that HSB FOREX is not regulated. As an investment plan company, HSB FOREX may offer enticing opportunities. However, the absence of regulation renders it untrustworthy and unfavorable for investments. We strongly advise engaging in trading only with thoroughly regulated brokers to avoid the risks of financial losses.
• Market Manipulation: In trading environments where transparency and regulatory oversight are lacking, particularly with unregulated and offshore brokers, the risk of market manipulation is significantly heightened. This manipulation can take various forms, endangering clients' investments. Instances may include unreliable market data, susceptibility of orders to manipulation, and overall trading conditions unfavorable to traders. Such circumstances elevate the probability of investment losses and adversely affect account balances.
• Client Feedback: We didn't find many reviews on the broker, but the small number of feedback we were able to find was mostly negative, ranging from unsatisfactory services to the insufficient withdrawal process. 
• Withdrawal Issues: When assessing a broker, thorough attention is given to withdrawal procedures, a critical aspect of Forex trading. If the withdrawal process is not sufficient, traders may encounter difficulties accessing their investments and profits. Complaints against HSB FOREX regarding its withdrawal process raise significant concerns. Additionally, the broker's lack of regulation serves as a warning to traders to exercise utmost caution when considering investments with the company.

Overall HSB FOREX Ranking

Extensive investigation has unveiled substantial apprehensions regarding the dependability of HSB FOREX and its adherence to regulatory norms. Consequently, we are unable to endorse HSB FOREX with a positive rating.

• HSB FOREX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

HSB FOREX Alternative Brokers

Considering the uncertainties surrounding the reliability and security of HSB FOREX, we highly recommend traders to explore alternative options offering enhanced regulatory oversight and superior trading conditions. Below, we have comprised a list of reputable brokers for investment that present reliable choices and ensure a secure trading environment for your consideration:

• Robinhood – Good Broker with Excellent Platform Range
• Webull – Good for Beginners and Good Fees
• TD Ameritrade – Wide Range of Trading Instruments

Deposits and Withdrawals

Clients can deposit funds into their accounts using different methods including bank transfer, bitcoin, and more.

• Prior to initiating any deposits or withdrawals with HSB FOREX, it is imperative to complete the company's security and identification verification process.
• HSB FOREX provides various investment plans, including daily and weekly options, each with distinct contract durations, minimum investment requirements, and other specifications.

Account Types

To open an account traders need to submit Identification proof like a passport or driving license and a residential proof. Unfortunately, there is not much information on the account types, however, the broker mentions a range of trading accounts, along with Islamic Accounts. 

HSB FOREX Review Conclusion

Upon our comprehensive analysis of HSB FOREX, notable doubts arise regarding the broker's credibility. While HSB FOREX operates as an investment company, the absence of registration raises significant concerns, especially when compounded by negative client feedback. Additionally, the lack of information on the website, coupled with the average services and trading conditions provided by HSB FOREX, makes it an unfavorable choice for trading.

In light of these observations, it is strongly recommended to prioritize tightly regulated brokers with established reputations and transparent trading conditions. We advise selecting a trustworthy broker possessing licenses from reputable authorities such as FCA, ASIC, or CySEC. Numerous regulated brokers have earned a reputation for reliability while also providing exceptional services, such as Interactive Brokers, Go Markets, and HFM.

• Overall ranking and experience for HSB FOREX is Negative