HyperForex Review: Hyperforex.com Bane Forex Scam
HyperForex (Hyperforex.com) is another rotten CFDs, Crypto Currency, and Forex scam platform to hit the lucrative trading world. Hyper Forex is claiming to offer a wide range of tradable products. Products you can trade with this platform include Crypto, Energies, Forex, Metals, Indices, and Stocks. Investors are also promised a 30% free bonus once they sign up. Read this genuine and honest HYPERFOREX Review and get to know the truth.
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HyperForex Review
After receiving numerous email complaints from members of this platform, we decided to investigate. What we found out is shocking beyond words. As it turns out, HyperForex is another online scam platform disguising as an online trading website. Investors are signing up not knowing the real reason behind this website. We feel it is our duty to sign up expose these scam platforms and protect all investors. A good question to ask is why do investors fall for scam platforms?
Most investors don’t conduct a thorough background before committing to a broker. Investors simply sign up without having a second thought over the platform. Scam artists take advantage of this by creating cloned trading websites. Hyper Forex is a cloned website which is looking to profit from deposits made by investors. Thanks to our years of investing and trading, we will expose these scam artists today. Make sure to read this entire review and find out the tricks used by these scam artists.
About HyperForex
Not much is known regarding the actual ownership of this platform. According to the disclaimer at the footer of their homepage, the platform is based in St. Vincent and the Grenadines. By their own admission, they openly state they are offshore brokers. The reason why offshore brokers are a problem is they are known to break trading rules. Take for instance Hyper Forex; they don’t insure funds deposited by members as dictated by law. Trading with HyperForex is highly risky.
Anonymity is also a reason to doubt this platform as no one knows the actual owners. Who are the founding members of this platform? Why can’t we get the actual names of people running this platform? Without the actual names, we don’t know who is actually running the show. It is best to choose platforms which are known by members of the trading community. Anonymity allows owners to steal from funds without being traced. Any anonymous online investment platform should be ignored.
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Is HyperForex licensed or registered?
Without a valid trading license to show, it is clear HyperForex is not licensed or registered. No proof of their license and regulation is present. We checked the entire website and could not see any form of licensing credentials. Scam artists will do or say anything to make sure their platform appears legit. It even means they can post fake details to fool investors. Disclaimer at the footer of their homepage shows we are dealing with a scam.
Why has the platform failed to post copies of their license credentials? A real trading platform will post details of their license for all to see. Without proof of licensing, it is clear we are dealing with an unlicensed entity. Stay away from such platforms as they are not going to protect your funds. To try and check whether the platform is licensed, we reached out to leading regulatory bodies. Bodies such as ASIC, CySEC, FCA, and others have no platform licensed under this name.
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Advantages of HyperForex
We searched their entire website for any advantage of trading with this platform. Funds are never safe with an anonymous broker who is out to commit fraud. Some of the trading features we noted were not available. Hyper Forex is simply trying to get as many people to sign up and deposit before closing shop.Â
Disadvantages of HyperForex
Accounts offered
HyperForex is furnishing users with three different account types to choose from. Accounts are listed as Basic, Standard, and VIP. What we noticed weird with this platform is the similarities of account features. If you look closely at the features, the only difference is pips and minimum deposit. Bonuses have been a major bone of contention as scam artists ask members to pay them back. Why issue a bonus and later ask for it?
Demo Account
Another disturbing issue with this platform is the rigged demo account. Scam artists have taken advantage of it and decided to distort results. With their demo account, users are getting over 98% successful trades. Price markets change constantly and making such profits is not achievable. It is why you need to stay away from this platform.
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Deposit and withdrawal
Account funding with HyperForex is easy and fast. HyperForex is trying to ensure users make deposits as fast as possible. Depository channels include Bank transfer, Neteller, Skrill, among others. What we have a problem with is why members are not able to withdraw funds. Withdrawing is a major issue with this platform which means users are simply being fooled. No investor has come forward with proof of withdrawing funds with this platform. Stay away from any platform which refuses to allow withdrawal requests.
Unsecured platform
With a platform which lacks basic security features, trading with them is a huge risk. Looking closely at their website, we noticed they don’t have any protection with them. Lack of DDoS Protection and SSL Encryption means we are dealing with an unstable website. Hackers can easily take over this platform and steal relevant data.
Are funds safe with HyperForex?
How can funds be safe with a platform which is stealing from their members? Withdrawing is important in any investment platform. Lack of withdrawals is proof we are dealing with another online scam artists. Another problem with this platform pertains to segregation of funds. HyperForex is not segregating accounts as dictated by law. Pooling of funds in one account can lead to the platform facing insolvency. It is why you must ensure you stay away from such an illicit platform.
Is HyperForex a scam?
Evidence clearly shows we are dealing with a rotten online scam platform. Only way to protect investors is by authorities shutting down this platform. Make sure you stay away from this illicit platform or become their next victim.
Verdict
We will be adding this platform to our scam blacklist and ensure no one gets lost.
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Wishing you all the best in your Forex trading experience.
April 8, 2020 @ 1:04 am
Dear valforex team
Hi this is Daniel smith from hyperforex.
thank you for your attention to our business. in our client portal we never received henry’s(the Reviewer) personal data. it means he have never been our customer. you better try to sign up and look around our page before start a review.
even if our website is not perfect more than 200 customers are trading at the moment. if you studied a little about the forex license, you may know Malaysia forex license is A book only stable license for customer and broker both side. since the company was founded there was no problem to all our customer, even they want to withdraw, deposit more than $1,000,000 we just finished our job same as usual.
there are so many things to I want you to know about our business, please don’t judge other by your twisted perspective.
We look forward our relationship is going to be better. and lastly there is a great reviewer please check this web site [Link Removed]
thank you.
December 7, 2020 @ 7:35 am
good platform. have been trading here for 3 months. kind customer service.