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HCapitalForex
Scam
Scam

HCapitalForex

🇺🇸
  • CFD
  • Brokerage
1-2 years
Website

Current Rating

1.26

Industry Tier

E

Profile

HCapitalForex is a contract for difference (CFD) broker whose official website was registered on October 10, 2023. It primarily offers CFD trading services in forex, stocks, indices, commodities, energy, precious metals, and more to investors. The company's headquarters are unknown. The broker's official website supports multiple languages, including English, Traditional Chinese, Simplified Chinese, Japanese, German, French, Arabic, Korean, Thai, Russian, and more.But it does not provide services to jurisdictions where it may violate local laws or regulations.

Corporate Background and Regulatory Status:

According to publicly available information on its website, HCapitalForex claims to be a Korean subsidiary of a company headquartered in Tulsa, Oklahoma, USA. The parent company offers retail and commercial banking services in the Midwest and Southwest regions of the United States, ranking among the top 50 financial services companies and being the largest in Oklahoma. The company has raised over $3 billion in funds in recent years through support for various major projects. The broker states that it is regulated by the National Futures Association (NFA) and the Financial Crimes Enforcement Network (FinCEN), with NFA ID 0559483 and MSB ID 31000256114249.

Upon verification, it was found that HCapitalForex is only a non-member of the NFA and is not regulated by the NFA. The mission of FinCEN is to protect the financial system from illegal use, combat money laundering and related crimes (including terrorism), and promote national security through the strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence. It does not regulate financial derivatives trading.

HCapitalForex shares a highly similar website design with several other brokers, including Varna Trade, RH Trade, Kaerm IM, Arlington Asset Investment Corp Ltd, Huigu Limited, suggesting that these broker websites may be using the same template to create batch websites. They are registered with FinCEN and NFA to potentially confuse investors.

Furthermore, as of November 13, 2023, the broker's website has been registered for only one month.

HCapitalForex

HCapitalForex

HCapitalForex

HCapitalForex

Account Opening:

To open an account with HCapitalForex, users need to register and log in on its official website. The registration process involves providing personal information such as name, email, phone number, country, and address, uploading identity documents, and setting a login password. The broker also requires the submission of an invitation code for normal account registration.

HCapitalForex

Account Types:

The official website of HCapitalForex does not mention specific information about trading accounts. In the frequently asked questions section, the broker claims to offer a floating spread as low as 1 point, leverage ranging from 1:100 to 1:500, but details such as minimum deposit, trading commission, additional level, stop loss level, minimum trade volume, etc., are not clearly disclosed.

Huigu

Trading Platform:

HCapitalForex only provides its proprietary ST trading platform, which has unclear rules. Users may be susceptible to price manipulation and slippage, and the broker charges high transaction fees.

HCapitalForex

Deposits and Withdrawals:

The broker's website does not disclose specific information about deposit and withdrawal methods.

Customer Support:

HCapitalForex only supports customer inquiries through email at support@hforexltd.com, providing a limited means of contact.

Summary:

Traderknows advises investors that HCapitalForex lacks clear information about its corporate entity registration. The claimed regulatory registrations are likely intended to mislead uninformed investors. The broker is not regulated by any official financial regulatory body in any jurisdiction. The lack of clear account information on the broker's website, the requirement of an invitation code for registration, the use of a proprietary trading platform with opaque rules, and the limited contact options all indicate suspicious activities, suggesting a potential scam.

Traderknows recommends that traders stay away from this platform when choosing a trading platform to avoid unnecessary financial losses. Additionally, the broker's website design shares a template with VLC Trade LLC, OBV Trade MT5, SXHJAS GLOBAL LIMITED, ASEX CAPITAL GROUP LIMITED, KFCP GLOBAL LIMITED, Cberry Wt, Varna Trade, RH Trade, Kaerm IM, Arlington Asset Investment, Huigu Limited, indicating a common template design. As of now, HCapitalForex has been marked as a "Piggy Bank Scam" on Traderknows.

User Reviews

1.26

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FAQ About HCapitalForex

01

What is the official website of HCapitalForex?

The official website of HCapitalForex is https://hforexltd.com/.

02

Is HCapitalForex legit or scam?

HCapitalForex is currently listed as Scam on TraderKnows.

03

What kind of company is HCapitalForex?

HCapitalForex is a CFD, Brokerage company.

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