If you are trying to find out whether HutMarkets is a scam or genuine company before investing, then you made the right decision. We don’t trust HutMarkets.com broker because it is anonymous and lies about its location.
HutMarkets provides trades on stocks, binary options,Forex and cryptocurrency. It is said to be a fully automated trading platform with full control of investments.
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Hutmarkets claims to be a legal blockchain company based in the United States(USA).
Should you trust HutMarkets?
After conducting our research on HutMarkets, we can conclude that it is a scam. It is illegal broker that is breaking laws both in the USA and the whole world. Here is why HutMarkets is an illegal broker.
- HutMarkets is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like HutMarkets do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
- We confirm that HutMarkets is a scam, it provided an address in USA – something that turns out to be false. All brokers based in the US should be licensed by the financial authority in the USA, in this case the CFTC or the NFA. HutMarkets does bear license from any of these authorities, they are not licensed any where in the world to provide Forex services.
Is HutMarkets Safe?
HutMarkets is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
HutMarkets is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How HutMarkets works?
It is risky trading with an unregulated broker like HutMarkets, as most of them turn out to be scams. Problem starts immediately you make a deposit to a scam platform. They will use many tactics to make you deposit more.
Scammers will take deposits from you but never let you withdraw anything, because these brokers often present silly legal documents and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
HutMarkets will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
HutMarkets is a scam Forex and CFD broker, they are not regulated by any authority and will sure abscond with people’s money one day. That is why you have to stay away from them.
Your deposits are not safe with this platform.
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