HubKoin Review – All You Need to Know About This Broker

As the crypto market evolves, so do the regulations surrounding it. We are aware of those big crypto exchange collapses. So, regulators worldwide have been working to strengthen crypto trading oversight. Canadian authorities, for example, have recently implemented a new rule that prohibits leverage trading.

Our in-depth HubKoin review reveals that this crypto exchange has violated these rules. Despite this, they are still trying to convince citizens of their legitimacy. We urge caution when considering trading with HubKoin, as their noncompliance with regulations may have serious impacts on traders. Make sure you research any crypto exchange before making any investment decisions.

Regulation and Security of HubKoin

Pink Piggy Investment Group Inc. is the parent company of HubKoin, a crypto exchange that operates in Canada. They claim to be registered with FINTRAC and NRD, but it’s important to note that these are not legitimate providers. FINTRAC only monitors transactions to ensure businesses comply with AML and KYC policies and prevent money laundering.

Despite the CSA, Securities Administrators, which monitors and coordinates with regional license providers, we couldn’t find any record of HubKoin regulation. This is quite concerning, given that CSA banned crypto leverage after the FTX exchange collapsed. Yet, HubKoin still offers 1:125 leverage, which is significantly higher than the EU’s strict 1:2 limit, considering the asset’s high volatility. HubKoin is clearly not complying with license providers.

Similarly, HubKoin has received numerous regulatory warnings from BaFin, FMA, CNMV, CSA, and AMF Quebec. It’s concerning that HubKoin tries to convince citizens of its legitimacy despite not being regulated by any Canadian authorities. If you’re considering HubKoin, it’s crucial to do thorough research and be aware of the risks involved.

Trading Platform Overview

Remember that the trading platform and all other features are completely inaccessible unless one creates an account. This raises suspicions that HubKoin is trying to obtain personal information such as email addresses and contact numbers for marketing purposes. 

Users may receive endless sales calls and spam emails. The website only offers a WebTrader service, which is very vague and has no mobile apps. However, HubKoin is not a licensed and regulated exchange or trading provider. This is a fact! We strongly recommend avoiding it altogether. It’s not worth the risk.

Tip: Be wary of schemes that promise easy earnings. Yes, it may be alluring to invest in a program that offers quick returns with minimal effort. Yet, the reality is that such schemes are often too dazzling to be true.

Funding Methods at HubKoin

This broker has been reprimanded for its unclear deposit and withdrawal policies. Numerous customers have complained that they cannot obtain information about their accounts, which creates chaos and distrust. Even those who attempted to withdraw their funds were unable to do so. 

This is a sign that the broker’s withdrawal process is defective. As a result, many customers express dissatisfaction with the broker’s services. If you’re considering using this firm, it’s critical to exercise caution no matter what. The broker’s lack of clarity on deposits and withdrawals should serve as a significant red flag.

HubKoin – Account Types

This odd crypto company does not provide any clear information about its account types on its website. Instead, everything appears to be incomplete and lacking transparency, which should be concerning for investors.

The absence of clarity on account types is a serious issue. Potential investors should be wary of investing in such platforms to avoid the risk of falling victim to potential scams.

Note: Reporting a scam shouldn’t make you feel embarrassed. In fact, you should feel empowered by taking a stand against those devious fraudsters.

Putting the Scam into Action: Their Strategies

Bogus brokers have many deceitful tactics in their pockets to swindle investors. One of the most familiar tactics is offering mouth-watering incentives that appear too good to pass up. Yet, these incentives often come with horrible terms and conditions that make it almost impossible for traders to withdraw their profits. 

Besides, these unscrupulous brokers promote low spreads and commissions but cleverly conceal additional fees and markups that can result in unexpected losses for traders. Also, they even use forceful sales tactics and pushy marketing strategies to coerce traders into investing more. As an investor, it is necessary to remain vigilant and informed to avoid falling prey to these manipulative practices. 

Resist the allure of quick profits and always read the fine print to avoid nasty surprises in the future. Also, conduct thorough research into the background and reputation of any potential broker before investing your money. Don’t let scam brokers take advantage of your unawareness. 

HubKoin Summary

If you’re considering investing in crypto, it’s essential to be cautious of crypto-only exchanges that promise too good to be true returns. HubKoin is a Canadian-based exchange that claims to be registered with FINTRAC and NRD. 

Yet, upon closer inspection, there are no records of the company being regulated by any real license providers. The absence of regulation is a red flag that should not be ignored. What is more, the website is not UI-friendly and the company is fuzzy about account types and deposit and withdrawal procedures. 

This lack of transparency is a clear hint that the company is not reliable or trustworthy. Bear in mind that HubKoin also employs many deceptive tactics to lure people into investing their funds. Stay away from this scam. 

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