Investing in binary trading can be a high-risk/high-profit endeavor, and many people decide to go on those adventures without knowing what exactly are they getting themselves into. For instance, different broker houses offer different things, and our HBC review will tell you all you need to know about HBC binary broker.
HBC review – History of the company
Just like in any other line of business, experience and tradition are important in the financial world as well. As a matter of fact, people will have more trust if a company has a long-lasting history and presence in the sector. Unfortunately for HBC, this broker does not have such a long tradition in the world of binary options.
They started to offer binary trading quite recently, in 2010, but the actual origins of this enterprise go all the way back to 1997. In that period, they were providing advisory services, and the company was called JFC Consult. However, they changed their name and structure in 2008, and as we have already said since 2010 HBC binary broker is offering their platform to millions of traders.
HBC Opinion – Licenses and Regulation
If you want to invest your hard-earned funds in binary options, the first thing you need to do is to find a reliable and legitimate broker house. But, this can be easier said than done, and this sector has a bad reputation for being full of scam sites and malicious organizations. When it comes to HBC, they are still not regulated by CySEC or FCA, nor by any other reputable regulatory body in the binary trading world. This fact is a proper red flag for potential investors, but the “problems” with HBC do not stop there. More of them are highlighted in our HBC review.
HBC broker is owned by a company named IVA STAR LTD, and a knowledgeable financial “guru” Julian Schmidt is the man behind their entire project with binary options. However, this company is a typical off-shore organization, stationed in Commonwealth of Dominica. Similarly, HBC is apparently “licensed and regulated” in Vanuatu, under the name MPG Invest Limited. If this is not enough to warn you about the suspicious activities of HBC binary broker, then we honestly don’t know what will.
HBC broker – The trading process
Trading conditions with HBC binary broker are pretty much the same as with the majority of other broker houses on the market. Several types of accounts are on offer, and besides the demo account, clients can choose between Silver, Gold, and Diamond account. The most basic type starts at $250 with a minimum deposit amount, and clients who invest $50.000 will have a proper VIP treatment as a part of the services that are included in the Diamond type of accounts.
Traders can spend only $5 per trade, which is a very low amount, in comparison to most other trading providers. HBC claims that they offer 81% of returns, and this tantalizing carrot is not the only method by which they are trying to attract gullible investors. The Bonus feature, with 50% welcome bonus, is a similar technique, and this amount, of course, comes with complicated terms and conditions.
HBC reviews on software platform
Traders who decide to invest with HBC after all these facts will have access to more than 100 assets, and they will be able to trade in several methods, including high/low, range, short-term, and one touch binary options. As was found out by HBC review, it uses a platform provided by Panda TS, and this software solution is certainly not one of the best platforms out there. It is available in only two languages, Russian and English, and there is CopyTrade feature integrated into the system. Additionally, HBC offers mobile applications, and they are available for both iOS and Android users.
HBC scam with banking methods
The safety and protection of their funds and personal information are the primary concerns for prospective investors, and this is entirely reasonable behavior. We all want to keep our money safe, and this basic survival instinct is particularly strong when it comes to large sums of our funds. When it comes to HBC broker, there is no claim of them using encryption to protect client’s data, and this is a questionable practice, to say the least.
However, they offer a broad range of banking methods for depositing and withdrawing money, and these options include WebMoney, Skrill, Neteller, and so on. Also, the most significant credit and debit cards are also supported, just like wire transfers are as well. The usual time it takes for transactions to complete is four business days, but if you are one of the rare owners of the Diamond account – your transfers will be completed in seconds.
As you could see in our HBC review. HBC broker is not a reliable and professional company, and clients should not invest their funds with this broker house. If a financial institution is not regulated by a reputable governing body, no one can guarantee the safety of your money or the protection of your personal information. That is why we advise you to look for a different brokerage company.