Yes, Hive Markets may look like a good and approachable brokerage with only a $10 minimum deposit. However, do not rush into investing just yet. Read our Hive Markets review, and you will understand why even $10 is too much for this illicit operation.
|Broker status:||Offshore Broker|
|Regulated by:||No regulations|
|Owned by:||Hive Technologies LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Cryptocurrencies:||Yes – BTC, ETH, XRP – total 13|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
Hive Markets Regulations and Security
Hive Markets intelligently took their name after blockchain technology, convincing inexperienced clients they are a specialized wallet. That is the reason why the only possible deposit method is Bitcoin.
Conveniently, the alleged owner is Hive Technologies LLC, exactly like the company that established this part of crypto mining.
Whatever employees of Hive Markets broker try to convince you, know that you’re dealing with yet another offshore operation from Saint Vincent and the Grenadines without proper regulation. And yes, they might convince you that cryptocurrencies are not a regulated field. However, the forex market is. And this company is classified as a forex brokerage.
Fund Withdrawal Issues
As mentioned, the broker’s only available payment method is Bitcoin. Since it’s known these transactions are hard to follow, the broker is using this fact to scam clients. According to Hive Markets reviews, none of the clients that submitted withdrawal requests were approved.
Since we’re speaking about an illegal offshore broker that doesn’t belong under any regulatory jurisdiction, it’s no wonder investors are facing withdrawal issues.
If you find yourself in a position where you cannot withdraw your funds, let us know immediately.
First, traders are delighted with Hive Markets’ approach. However, it all changes once they want a payout. The broker offers an MT4 and has such a nice and convincing support team that traders believe they found the perfect place.
Troubles start once they want to get their funds back or refuse to invest more money after just a day or two.
How Does Online Trading Scam Work?
Every online scam starts with an advertisement. Of course, this advertisement is false and shows an impossible outcome – thousands of dollars with a minimum of $10. Once you submit your personal details, the broker’s employees are harassing you until you eventually accept to start an account. Thinking that $10 is something you can afford to lose, you’re going down this rabbit hole.
Everything goes downhill once you decline the “amazing trading opportunity” and do not invest further. Or even worse, you do invest further and want your money back.
Scammed by Hive Markets?
Since Bitcoin is the only available payment method, many victims of Hive Markets scams go desperate when they understand they’ve been scammed. Although, there is no reason for desperation. Our experts have helped many in such situations. Tracking transactions made via crypto is challenging but not impossible.
Contact us via online chat for further details. Let’s stop these scammers and get your money back!
What is Hive Markets?
Hive Markets is an unregulated online trading brokerage from Saint Vincent and the Grenadines.
Is Hive Markets a scam?
Hive Markets is unregulated and has many complaints regarding withdrawal issues.
Is Hive Markets regulated?
No, Hive Markets doesn’t have any sort of financial license to provide such services.