HD Markets: a Reliable Forex Broker, or a Scammer?

What HD Markets is

As its website claims, HD Markets is a South African broker that provides clients with service of online forex trading as well as CFD trading. HD Markets was founded in 2017 with the registration number (K2017179650) by a group of experts in the finance department. It claims that HD Markets is regulated under the FAIS Act as juristic representative of an authorized financial service provider. FSP #49977. According to WikiFX, this broker currently does not have a legitimate license, and its claim on the website is suspicious. Furthermore, we cant find the place where this broker is physically located either. Therefore, it will be a risk if you put your money under their management.

Lack of information

It seems to be uninformative while opening HD Markets‘ website, as there is no information regarding legal documents, including Conditions and Terms, physical address, withdrawal and beyond. As long as we don’t have enough information, we can not consider HD Markets as a trustworthy broker.

Risk on money

One of the biggest problems revealed by WikiFX is that if you invest in HD Markets, you are likely to lose control of your money. WikiFX received a complaint of a trader who comes from South Africa. The trader said that after he/she deposited the money into his/her account, the dashboard still showed 0. Accordingly, if you are about to invest in this broker, please be aware of this point.

Is HD Markets dependable to invest in

As an unlicensed and unregulated brokerage firm, HD Markets may blow your account and take your money away without your permission. It is difficult for you to hold them accountable for your loss of money. Lack of much significant information makes this broker more questionable.Therefore, we recommend you avoid brokers like HD Markets.

Conclusion

All in all, when you look for a broker to conduct your trading activities with, the thing you need to do is to identify the brokers certification. HD Markets is not regulated by FSCA, thus all South African traders should avoid HD Markets. You can find out if HD Markets is legit by using WikiFX. WikiFX contains details of more than 31,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link (https://www.wikifx.com/en/download.html). Running well in both the Android system and IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers that you are curious about.