HG MARKETS

What Is HG Markets？

HG Markets (PVT) Ltd., a constituent company of Harvest Group established in 1994, holds a pioneering status in introducing Futures Trading in Pakistan. Incorporated in 2013, HG later acquired memberships of the Pakistan Mercantile Exchange (PMEX) and the Pakistan Stock Exchange (PSX). However, it currently holds no regulatory licenses.

Pros & Cons

Pros:

• Demo Account Available: HG Markets offers a demo account, allowing traders to practice trading strategies and familiarize themselves with the platform risk-free.

• MT5 Supported: The trading platform MetaTrader 5 (MT5) is supported by HG Markets, providing traders with advanced features, analysis tools, and automated trading options.

• Low Minimum Deposit: HG Markets has a low minimum deposit requirement of 6,000 PKR (around $22), enabling traders to start trading with a relatively small amount of capital.

Cons:

• Loose Spread: HG Markets offers spreads starting from 3 pips, which is considered wide compared to other brokers. This may result in higher trading costs for clients.

• No Regulation: HG Markets operates without regulatory oversight, which raises concerns about the safety of client funds and the reliability of the brokerage.

• Commission Charged: The broker charges commissions, which can add to the overall trading costs for clients, impacting their profitability.

Is HG Markets Safe or Scam？

• Regulatory Sight: is currently functioning without any regulation, meaning it does not fall under the supervision of any financial regulatory bodies and does not possess any licenses to operate in the financial market. The absence of any such oversight raises concerns about the firms adherence to financial standards and regulations, increasing the risk for investors.

• User Feedback: There are not many reviews from users about HG Markets, but there is one issue reported, which is about withdrawing difficulty and suggesting fake transaction strategies. In this case, users should be more cautious about trading with this broker.

• Security Measures: So far we haven't found any information about the security measures for this broker.

Market Instruments

• Trading Currency Pairs: Clients can trade various currency pairs in the forex market, allowing them to speculate on exchange rate movements between different currencies.

• Indices: HG Markets provides access to trading indices, enabling investors to trade on the performance of stock market indices from around the world.

• Commodities: Clients can trade commodities such as gold, crude oil, silver, and others, allowing them to participate in the global commodities market and hedge against price fluctuation.

Spreads & Commissions

HG Markets offers spreads starting from 3 pips, which are relatively wide compared to industry standards. This loose spread increases trading costs for clients, making it less advantageous compared to brokers offering tighter spreads. Traders should consider the impact of wider spreads on their trading strategies and overall profitability when choosing HG Markets as their broker.

In HG Markets, the fees charged include the PMEX trading fee, which is calculated at 0.009% of the contract value for all futures contracts, with a floor fee of Rs. 30, except for the PMEX Mili Tola Gold Futures Contract. Additionally, there is a contribution to the Investor Protection Fund (IPF) at 1%, and the SECP Transaction Fee is set at 10% of the PMEX trading fee. The commission structure varies for Punjab and Sindh.

For Punjab:

For Sindh:

Trading Platform

HG Markets provides the MetaTrader 5 (MT5) trading platform to its clients. MT5 is a versatile and advanced trading platform that offers a wide range of features and tools for trading various financial instruments. With MT5, traders can access real-time market quotes, advanced charting tools, technical indicators, and analytical tools. The platform also supports automated trading through expert advisors (EAs) and allows for flexible customization to suit individual trading preferences. Additionally, MT5 is available on multiple devices, including desktop computers, smartphones, and tablets, enabling traders to stay connected to the markets and manage their trades from anywhere at any time.

Deposit & Withdrawal

Depositing money into your trading account with HG Markets is straightforward and offers various convenient options. You can deposit funds through Cheque, Internet banking, Demand draft, or directly at PMEX MCB Bank using the Collect plus deposit slip. If you choose to deposit through a cheque from a bank other than MCB, please note that it may take up to 72 working hours for clearance. Upon successful allocation of your deposit, you will receive an SMS confirmation or email directly from the Pakistan Mercantile Exchange (PMEX).

When it comes to funding or withdrawing from your trading account, HG Markets provides flexible payment options to suit your preferences. For funding, clients can deposit funds through various channels, including MCB collect plus deposit slip, other bank cheques, internet banking, demand draft, pay-order, or via ATM to the PMEX MCB SC bank account.

Withdrawals are processed efficiently upon receiving a withdrawal request from the client. The amount will be debited from the clients trading account and credited to the designated bank account within 48 business hours. Additionally, in the case of margin deposits, account holders can directly pay via the MCB -MF-71 or collect plus deposit slip, which will then automatically route to PMEX as a margin deposit.

Customer Support

Main Customer Support Channels (Head Office):

Live Chat: HG Markets offers live chat support on their website for real-time assistance and inquiries.

Contact Form: Customers can fill out a contact form available on the HG Markets website to submit queries or requests, and the support team will respond via email.

Email: Customers can directly email their inquiries to admin@hgmarkets.pk for assistance and support.

Telephone: Customers can reach the head office at (042) 363 07344 or use the UAN number 111-800-000 for direct assistance over the phone.

Social Media: HG Markets is active on various social media platforms including Facebook, Instagram, and YouTube, where customers can connect, ask questions, and receive updates.

Head Office Address: The head office of HG Markets is located at 2 Race Course Road Lahore, Pakistan. The postal code provided is 54000.

Branch Office Support Channels:

Karachi Branch:

Authorized Person: Irfan Adhami

Address: BC-11 Block 5, Kehkashan Clifton, Karachi.

Telephone: +92 42 362 82812

UAN: (92-21) 111-800-000

Faisalabad Branch:

Authorized Person: Afzal Azad

Address: Koh-i-Noor One Plaza, Office 81 & 82, Ground Floor, Jaranwala Road, Faisalabad.

Telephone: +92 42 362 82812

Sargodha Branch:

Authorized Person: Tehmina Afzal

Address: Al Aziz Manzil, Club Road, First Floor, Opposite Cantonment Board, Sargodha.

Telephone: +92 48 3768470/73

Conclusion

HG Markets, despite offering a demo account, MT5 platform support, and low minimum deposit, presents concerns due to loose spreads, lack of regulation, and commission charges. While it provides convenient deposit and withdrawal options and comprehensive customer support channels, traders should exercise caution due to the absence of regulatory oversight.

Frequently Asked Questions (FAQs)

Q: What is the minimum deposit of HG Markets？

A: It is 6,000 PKR (around $22).

Q: Is HG Markets regulated or not？

A: No, it is not regulated.

Q: What is the spread offered by HG Markets？

A: HG Markets offers spreads starting from 3 pips.

Q: Does HG Markets support MT4/5？

A: Yes, it does support MT5.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.