Huigu Trading Platform Review: High Risk (Scam)

Huigu Overview

Huigu's registered corporate entity is Huigu Limited, with its office address located at 96 WADSWORTH BLVD NUM 127-3255 LAKEWOOD, CO 80226 U.S.A. The broker's official website indicates that Huigu is headquartered in Tulsa, Oklahoma, providing retail and commercial banking services in the central and southwestern United States. It claims to be one of the top 50 financial services companies in the U.S. and the largest in the state of Oklahoma.

Domain Registration of Huigu

Huigu's official website domain is huigulimited.com, and as of December 5, 2023, the broker's website has been registered for less than four months.

Is Huigu legHuiguit or a scam? Does Huigu have any regulatory licenses?

The broker states that it is regulated by the National Futures Association (NFA) in the United States, with regulatory number 0558557. Upon verification, it is found that Huigu is only a non-member of the National Futures Association (NFA) and is not subject to NFA regulation. Huigu, along with Varna Trade, RH Trade, Kaerm IM, HCapitalForex, Arlington Asset Investment Corp Ltd, among others, shares a highly similar website design, suggesting a potentially templated approach to creating multiple websites. These brokers are mostly registered with the Financial Crimes Enforcement Network (FinCEN) in the United States, and they are registered as non-member entities with the National Futures Association (NFA) to potentially mislead investors.

Website Template Quality of Huigu

The TNFL FX website employs a generic template. Upon verification by Traderknows, it has been discovered that this broker's website design bears a striking resemblance to several other brokerage websites, including Varna Trade, RH Trade, Kaerm IM, HCapitalForex, Arlington Asset Investment Corp Ltd, etc. These broker websites appear to be batch-produced.

Employees of Huigu

Traderknows was unable to find any information about the company's team members on public networks.

Trading Software Provided by Huigu

Huigu exclusively offers users a proprietary web-based trading platform. However, this trading platform has highly opaque rules, exposing users to potential manipulation of prices and slippage, along with the imposition of exorbitant trading fees.

Is Huigu Involved in False Advertisement？

Huigu, like many other forex brokers, claims to be a partner of the internationally renowned analysis firm Trading Central. However, this information cannot be verified, suggesting potential false advertising regarding partnership information.

Online Reputation and Client Complaints:

Huigu Limited is accused of being a suspected scam. Reports indicate that the company deceives individuals by requesting payment for taxes, fines, or freezing accounts. After contacting overseas scammers, many individuals were introduced to Huigu Limited and fell victim to financial fraud.

Investor reports highlight a distinctive aspect of forex investment fraud involving Huigu Limited. The process of obtaining refunds from Huigu Limited is deemed unusually difficult compared to typical fraud cases. Victims have faced a variety of fraudulent tactics, including being compelled to make additional deposits and being required to pay fines, deposits, or taxes. Huigu Limited is identified as a high-risk investment platform, subjecting investors to a range of risks in the course of their investment endeavors.

Trading Products Provided by Huigu

Huigu primarily offers CFD trading services for forex, stocks, indices, commodities, energy, and precious metals. The broker claims to provide low spreads and trading leverage ranging from 1:100 to 1:500. However, specific details regarding minimum deposit amounts, trading commissions, margin levels, stop-loss levels, minimum trade volumes, etc., are not clearly disclosed.

Contact Information

This broker only supports email and lacks other contact methods such as phone and real-time chat.

Website Traffic of Huigu

Orfinex's website traffic is relatively low compared to larger brokers, and generally, lower traffic suggests fewer users for the company and a lack of corporate strength.

Conclusion

Huigu is a forex broker not regulated by any supervisory authority. The broker has not disclosed crucial information regarding user fund security, corporate staff, and registration address. The clarity of Huigu's corporate entity registration information is questionable, and its official website shares a similar design template with several other brokers. Currently labeled as "Scam" on Traderknows, Huigu is recognized as a highly risky forex broker. Users are strongly advised to steer clear of this platform to prevent potential financial losses.