HBC Broker Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this HBC Broker Review.
HBC Broker Review
HBC Broker offers three different account types with fixed spreads. The company offers forex and CFDs on commodities, indices and stocks.
The Company. Security of Funds
Company Country Regulation
MPG Invest Ltd. Vanuatu VFSC
HBC Broker is a trademark of MPG Invest Limited, which is licensed in Vanuatu. Trading with an offshore regulated broker is something we generally do not recommend. As you may know, different countries have different regulatory agencies who impose rules on the companies who operate there. The efficiency of these watchdogs varies drastically from one jurisdiction to the next. Offshore companies are presumed to be under less stringent rules.
More reputable regulators enforce harsher conditions. The Financial Conduct Authority (FCA), for instance requires brokers to participate in the Financial Services Compensation Scheme (FSCS). This is a mechanism which guarantees clients’ funds up to GBP50,000 in case the broker goes bankrupt. This is something you do not get with VFSC.
Minimum Initial Deposit
HBC Broker requires a minimum of $250 for a client’s initial deposit. This is slightly above the industry standard of $100. We must note, such deposits are too small for effective trading in the global financial markets.
Average spreads & Commissions
HBC Broker offers fixed spreads starting from 3 pips for EUR/USD. This is way out of touch with the current state of the industry. Most forex brokers offerig fixed spreads quote 2 pips for this pair. For further information, you may look up and compare real-time spreads of 15 leading brokers may be viewed here.
HBCBroker offers a 1:400 leverage ratio. This is relevant to the current offers by other brokers, with some offering 1:500 or even higher levels. XM for instance offers 1:888.
As you may know, high leverage is a double-edged sword. It can increase your profits dramatically, but will also have a similar impact on your losses. Be sure to fully understand the principles and risks involved with margin trading, before you risk your capital.
HBC Broker offers MetaTrader 4 (MT4) to its clients. The platform is an industry staple at this point, having won lots of fans due to its simplicity. The ability to easily run automated systems (Expert Advisors, EAs) is one of its key strenghts.
On the other hand, the platform may suffer if you load too many instruments on it.
Methods of Payment
HBC Broker offers several deposit and withdrawal methods. They are: Bank Transfer, Credit/Debit Card, WebMoney, Neteller and Skrill. Whenever you are thinking about transferring money, keep in mind Bank transfers can take several days, while other methods are instant (at least when it comes to deposits).
HBC Broker is an offshore registered broker. The VFSC license is better than nothing, but is still below reputable regulations. Trading conditions at the broker are not good enough by today’s standard. A 3 pip fixed spread on the most liquid currency pair is just not relevant.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
HBC Broker Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about HBC Broker Review.