Han Ba Ltd is a broker that provides forex, precious metals, crude oil, and indices trading services to investors. The official website of Han Ba Ltd is https://hanbaltd.com/, and the website supports Traditional Chinese, English, French, German, Russian, Japanese, Korean, Thai, and Arabic as languages. According to the domain registration information obtained from a Whois query, the company's official website domain was registered on September 18, 2023, and the domain registration period does not exceed six months.
Company Background:
The official website of Han Ba Ltd does not provide clear registration information, and the contact information on the website suggests that the company is likely registered in the state of Colorado, USA. The U.S. Department of Commerce website did not yield any registration information related to the company. Additionally, according to the domain registration information obtained from a Whois query, the company's official website domain was registered on September 18, 2023, and the domain registration period does not exceed six months.
Account Registration:
The Han Ba Ltd official website indicates that the company provides a registration link for trading accounts. The registration method for a trading account involves clicking "Register" in the top right corner of the Han Ba Ltd official website or on the left side of the website, selecting "Register," "Login," or "Start" to enter the trading product quotation and trend page, then clicking "Register" in the top right corner of that page. Users are required to fill in information such as phone number and password to complete the registration. The Han Ba Ltd trading account registration page supports Chinese, English, French, German, Russian, Japanese, Korean, Thai, and Arabic. However, the registration process does not distinguish between a real trading account and a demo trading account.
Account Types:
Han Ba Ltd website displays three trading account types: Comprehensive, Finance, and Financial STP. However, the website does not provide information on the minimum deposit amount, spreads, commissions, overnight interest, and margin ratios for these account types.
Trading Products:
Han Ba Ltd website states that the company provides trading services for forex, precious metals, crude oil, and indices. However, the website does not specify the exact trading products covered under these categories, and key information such as spreads, commissions, overnight interest rates, margin ratios, and trading hours for specific products is not provided.
Margin Ratios:
Han Ba Ltd website mentions in the "Frequently Asked Questions" section that it provides leverage ratios ranging from 1:100 to 1:500 for investors. However, detailed information on margin ratios for specific trading products in forex, precious metals, crude oil, and indices is not provided.
Trading Hours:
The Han Ba Ltd website does not provide information on the trading hours for specific trading products in forex, precious metals, crude oil, and indices.
Deposits and Withdrawals:
Han Ba Ltd website does not provide information on supported deposit and withdrawal methods or channels. Information on supported currencies, fees, and processing times for deposits and withdrawals is also not available.
Trading Software:
The Han Ba Ltd website indicates that the company provides its proprietary ST5 trading software for both desktop (Windows/MacOS) and mobile (IOS/Android) platforms. However, there have been reported issues with the download and installation speed of the Android version of the ST5 software in certain countries or regions.
Regulatory Information:
The Han Ba Ltd website states that the company is regulated or authorized by the National Futures Association (NFA) in the United States and holds a Money Services Business (MSB) license from the Financial Crimes Enforcement Network (FinCEN). However, NFA website results show that the company is not a registered member of NFA and is not regulated or authorized by NFA. Additionally, FinCEN is a regulatory body for anti-money laundering and counter-terrorism financing and does not regulate or authorize forex brokers.
Conclusion:
There are suspicions of fraud associated with Han Ba Ltd. Firstly, the company does not provide information on account types, specific trading products, and deposit/withdrawal details. Secondly, the official website does not offer clear registration information, and the provided contact address does not yield any relevant registration information on the U.S. Department of Commerce website. Lastly, while the Han Ba Ltd website claims regulation by NFA and possession of an MSB license from FinCEN, verification shows that the company is not an NFA registered member, and FinCEN does not regulate or authorize forex brokers. Based on these findings, there are concerns about the legitimacy of Han Ba Ltd, and investors are advised to exercise caution when considering the services offered by the company. TraderKnows reminds you to be vigilant about the security of your assets and to avoid falling into fraudulent traps.
