HQ Trade Review: A Comparative Analysis of Competitors
HQ Trade is an anonymous brand with an inactive website. Since there is nothing special about this shady scam, we decided to unveil everything, including how to get your funds back if you were scammed.
Let’s start our HQ Trade review.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||FCA, IOSCO|
|Supported Platforms:||Web trader|
|Minimum Deposit:||250 EUR|
|Types of Assets:||Forex, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
HQ Trade Regulation and Security
As aforementioned, HQ Trade is an incognito brokerage without an owner or headquarters. The website of the broker is inactive, but based on several HQ Trade reviews we had a chance to see, it was entirely in Spanish.
This led us to believe it’s hiding in an offshore country and targeting mainly Spanish clients.
Since the broker is not legit, your funds are not safe with such an illicit operation. Beware.
Warnings From Financial Regulators
HQ Trade, illicit as it is, was blacklisted by the UK FCA. This regulator stated the broker is shady, and anyone who has been scammed should file a complaint immediately.
Another warning came from IOSCO, International Organization of Securities Commission. They concluded the same. This company is a shady brokerage that is conducting a scam around the globe.
Fund Withdrawal Issues
Since the hqtrade.io website cannot be accessed, we needed to verify if clients were reimbursed. Reportedly, none of the clients got any funds back. There are severe accusations, including those that all the funds are in the company’s account and clients cannot submit a withdrawal request. Moreover, everyone who tried to complain got their account suspended.
If you have experienced something similar with HQ Trade, do not hesitate to report it immediately. You are entitled to a chargeback if you made your deposit using a credit card.
How Does Online Scam Work?
Mostly, online scams are starting with a phone call by the company’s agents. They are taking your money as well as all the information about you. Afterward, you are assigned a personal account manager who needs to assist you in the trading process. This account manager will find an opportunity to take more funds from you based on fake promises about doubling the profits.
And once you want to withdraw your funds, you will find out that you have been scammed.
Scammed by HQ Trade?
If you were scammed by HQ Trade, there is a possibility of getting your money back. All you need is to file a dispute and request a chargeback.
But what is a chargeback? Chargeback is a way of refunding your card in case you were a victim of an online scam. Since it’s a legal procedure, you should get help from experts.
Contact our support via chat, and we will be glad to assist you with the procedure and book free consultations for you.
What is HQ Trade?
HQ Trade is an anonymous online trading brokerage without a regulation.
Is HQ Trade a scam?
Since this company is not regulated, the broker is conducting a scam.
Is HQ Trade regulated?
No, HQ Trade does not have a regulation for providing financial services.