Consider trading with Trader Hub FX? Why traderhubfx.com is a scam! Read Trader Hub review to know about this forex broker.
This content promises to share helpful review to support clients/traders in making the right decision.
Trader Hub FX
Trader Hub FX also known as Traderhubfx.com is an offshore brokerage company with a lot of promises for forex traders. Here, the broker openly presented office address in Jakarta.
What is more, there are different account packages offered by the platform.
Additionally, the platform offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below
Deposit and Withdrawal
Trader Hub FX Minimum Deposit:
Trader Hub FX deposit is shown as $200 according to the account type. Although this seems to be a good offer to start with, clients and traders must be more interested in investing in a licensed brokerage where they are sure of their funds.
In comparison, the good thing about a licensed FX broker is that minimum deposit is made known to traders, and clients can start trading as low as $100 with no fear of their investment.
As for the payment methods, the brokerage presented information namely
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
On Trader Hub FX withdrawal, the broker says nothing on withdrawal fee nor processing days on withdrawal request. Regrettably, there are no clear description on trade requirements that must be met before a withdrawal.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Trader Hub FX Platform:
Trader Hub FX broker claims to use easy-to-use platform, that is, web based trader. However, that cannot be compared to the advanced trading platforms of MT4/MT5. Many scammers have trading software to fool their victims that their money is being invested.
Why use advanced technological options such as MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Trader Hub FX leverage can get up to 1:500. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why Traderhubfx.com Is A Suspicious Forex Broker
First red flag, Traderhubfx.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
Trader Hub Fx presents two different office addresses – in Australia and Indonesia. Such an anonymous website could not legally operate in a regulated jurisdiction like Australia. The Jakarta address given is used by numerous other bogus brokers.
There is no authorised broker using the trade name and domain of Trader Hub Fx in the Australian Securities and Exchanges Commission (ASIC) and Indonesian Commodities and Futures Trading Regulatory Agency (BAPPEBTI) databases.
In addition, the platform does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Trader Hub FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
Trader Hub FX located at Traderhubfx.com claims to be a genuine trading broker, howbeit, that is completely false. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Therefore, we urge our readers to rely on regulated brokers like this or any licensed entity.
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