TradeHUB Review: Who is Behind TradeHUB.Fm?
TradeHUB broker might deceive newbies in forex trading; on the surface, its webpage resembles one of the legitimate-looking websites with licenses and regulations, appealing offers, the latest trading platforms, encouraging trading conditions, plenty of tradable assets, basically, everything a trader needs.
But it is just because this shady brokerage fraudulently imitates a genuine company – HYCM. Deep down, TradeHUB is yet another broker scam. So, please continue reading our TradeHUB review for more details.
|Broker Type||Forex provider|
TradeHUB Regulation and Security
Scam brokers like TradeHUB are of the worst kind. They copy legitimate companies to easier lure people into their cyber fraud. TradeHUB has counterfeited trading credentials and stolen website content of an FCA-authorized and UK-based firm – HYCM Capital Markets Limited. Finding this, the British supervisory body – FCA (Financial Conduct Authority) – has blacklisted TradeHUB and labeled it as a clone company.
Furthermore, TradeHUB professes its HQ is in Switzerland, but there is no proof supporting this claim, i.e., the company registration number.
In addition, Swiss-based brokers must be licensed by the Swiss financial market regulator – FINMA (no information about it, either). All things considered, TradingHUB represents the biggest risk for traders since it is an obvious investment scam.
Trading Software Used by TradeHUB
Since everything related to TraderHUB is deception, the same goes for its trading software. This fraudster doesn’t provide any trading platform despite its claim that traders can trade on its state-of-the-art web trader.
Technology is hard to copy without knowledge and resources, which fraudsters lack. So, all TraderHUB can fake is information, but false info is simple to check and expose scammers like this one.
TradeHUB Account Types
Concerning live trading accounts, TradeHUB states its offering is designed to meet each and every customer’s needs; whether you are a beginner or advanced trader, it will take care of you.
We know it will, and not as you expected, but this bogus broker will undoubtedly defraud you. So, its account options do not matter since TradeHUB is an illegal broker involved in fraudulent trading activities, and you should stay away from it.
Deposit and Withdrawal Method
Discussing the funding methods of this outright financial swindler doesn’t make sense. However, just out of curiosity, TradeHUB allegedly accepts credit/debit cards and crypto wallets.
If a victim deposited via the former, the good thing is that VISA and Mastercard offer assistance with cashback. While the latter tend to be anonymous and hard to reverse; that is why many con artists prefer crypto payments.
Speaking of deposits, the minimum required deposit with this bogus brokerage is $250, which is an unneeded risk since you can set up a live trading account with a legitimate online financial trading company for less than $10.
As for withdrawals (if they are possible at all), the minimum amount for payoffs is $500 for bank wire transfers and $100 for credit/debit cards. When it comes to fees and commissions, according to its website, TradeHUB charges the following: a 25% fee for early withdrawals, a 30% benchmark fee, a 3.25% management fee, and a 3.5% quarterly trading commission.
As you can see, this fraudulent broker is unpredictable, levies too high fees, and can’t be trusted; you would have only hidden charges, withdrawal issues, and a headache with TradeHUB.
How Does The Scam Work?
So, how the TradeHUB scam is executed? It is a cloned entity disguising itself as a legit company. Fraudsters behind TradeHUB take advantage of inexperienced people who buy their dubious offers under the veil of lucrative opportunities and generous bonuses.
Once tricksters rope unsuspecting victims into investing, they will insist on more deposits. After they finish with you, you won’t see your money ever again. Thus, you should be careful about easy earnings. Never trade with companies unless you are 100% it is safe.
In case you have been defrauded by TradeHUb or a similar unscrupulous broker, you should inform the relevant authorities. Also, cyber security experts can help you get your money back. Make sure you leave negative TradeHUB reviews to alert others. Finally, scams can happen to anyone! It is important to act fast.
In sum, we can conclude that all scam allegations against TradeHUB are deserved since it is an unequivocal hoax. This illicit broker is a clone firm of the FCA-licensed company (HYCM), and the British FCA warns against it. Also, it is reportedly registered in Switzerland. However, there is no information about the Swiss FINMA license or any other regulation.
Apart from that, this unlicensed and untrustworthy brokerage provides poor services, an inadequate trading platform, bonuses (that are prohibited), and too high leverage (1:500, despite it has been limited to 1:30 in most jurisdictions).
Finally, avoid TradeHUB like the plague and think twice before taking any risks while investing money.
FAQs About TradeHUB Broker
Is TradeHUB Regulated?
No, it is not, TradeHUB is an unlicensed brokerage that fraudulently imitates a genuine broker (HYCM).
What Are The Funding Methods for TradeHUB?
Although TradeHUB claims it supports credit/debit cards and crypto payments, I am skeptical about the former, since it is a pure trading scam.
What is the Minimum Deposit for TradeHUB?
This phony broker requires a $250 minimum opening balance, which is an avoidable risk, you can open a real trading account with a legitimate FX broker for $5.