Hubtrade website is one of those places that might come off as legit if you neglect all the warning signs. However, after a single thorough inspection of the site, our gut feeling was telling us something was not right with this firm.
Even if we turn a blind eye to the buggy pages and misleading site elements, there’s still the fake licenses, defunct software and less than amiable trading conditions. We’ve covered all the aspects of the fraud in our Hubtrade review below.
This many lies only implies one universal truth: Hubtrade is an unlicensed, anonymous entity with risky trading conditions and no appropriate security measures. By this we mean the fact that there’s no negative equity insurance, leverage goes up to 1:500 and no compensation funds are there to reimburse the clients in dispute.
Hubtarde is not an unusual occurrence in the Forex industry. A ton of illicit brokerage brands attempt to attract customers by propagating astonishing trading conditions combined with superb technology. With their help, your success and life-changing gains are promised to happen overnight.
Whether it’s the boiler room agents, the Ponzi scam or pig-butchering project, Hubtarde fits into the description. So do not wait if your funds are trapped here. Contact us and let’s join forces in restoring what was stolen from you.
It is absolutely beyond us how a scam domain, existing since 2017, has managed to defraud that many people and get away with it. Hubtrade doesn’t even have a single warning put up against them! When you see the list of countries where the victims are mostly located, you will be as shocked as we were:
A fairly undemanding registration process quickly cleared the way to the client zone and the web trader. This rudimentary and beyond simplistic terminal doesn’t quite make you feel confident and competent to participate in price speculation.
Not only is the lack of all the crucial and advanced features staggering, but the unresponsiveness and dependency on the TradingView borrowed chart is additionally disheartening. FXY Trade has a dangerously similar scam platform.
The Hubtrade platform is also advertised to be available for desktop machines. So, led by this bold claim, we attempted to download the software. Alas, the browser immediately cut off the process, notifying us that the download couldn’t be completed due to safety reasons!
In an attempt to convince traders of their reputable status, Hubtrade links the mobile software for downloading from the Xone Solutions Ltd store.
This independent Android software company has developed many apps, among which is a mobile Forex trader. However, trading on it isn’t provided by the independent Hubtrade server!
The offer of the Hubtrade instrument available for trading isn’t even close to what a reputable brokerage powerhouse usually has. Take a look:
It is apparent that the Hubtrade account can be opened in a matter of minutes and without having to go through complications of verifying. The registration is free and it lets you into the user area. That’s about it. It ain’t Demo but it isn’t Live either.
If you want to do anything more than that you have to invest first. What amount? Who knows! You just get an automatically generated Bitcoin wallet address and you can deposit by simply scanning the QR code.
While you can choose between the several leverage options, they’re all overly high. The maximum ratio being 1:500. Similar leverage is provided by another scam – NuxTrade.
Since the unresponsive software doesn’t reveal anything, we tried to scan the legal docs for the fees and other expenses. However, our investigation came up with no results whatsoever. This is one of the most representative examples of the transparency lack.
Once you find out the broker you’ve already invested with is a scam, your biggest concern becomes restoring the deposit. Hubtrade doesn’t let you go that easily and without paying fees they do not initially reveal.
Although account funding is allegedly possible via BTC only, withdrawals should be enabled by Hubtrade through wire transfers. This is a known AML breach.
Once you deposit real money, the broker discretely adds a bonus. This amount cannot be canceled, and the only way to make a withdrawal is to reach the trading volume requirement. In short, you have to make a volume of transactions worth x5 of the total amount.
The key to timely reaction is asking for help as soon as you discover a scam. Please do not refrain from seeking legal help. Our legal team has the knowledge and the experience necessary to promptly deal with the scam and restore your funds. Contact us today and book your free consultation!
No, Hubtrade isn’t regulated but lies about owning a proper license.
The broker gives a UK address, but also claims to be Seychelles and SVG-based.
Yes, this company doesn’t let customers withdraw funds, isn’t regulated and lies about their legal status. So contact us if you’re having a problem with this firm.
The broker doesn’t reveal such information.
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