Flying Hummingbird

Overview of Flying Hummingbird

Flying Hummingbird is an unregulated forex and CFD trading company based in Shenzhen, China, with an establishment period of 2-5 years. It operates in an unregulated environment and offers access to a variety of market instruments, including forex currency pairs, indices, commodities, and gold. The company provides two types of trading accounts, namely the Standard Account and the VIP Account, with minimum deposit requirements starting at $1 and a leverage of up to 1:500 is available.

Flying Hummingbird employs the MetaTrader 5 trading platform for seamless and efficient trading experiences. Deposits and withdrawals can be made solely through wire transfers, and the company does not charge fees for deposits but imposes a $25 withdrawal fee. Unfortunately, no customer support options are available as per the information provided.

Regulation

Flying Hummingbird operates in an unregulated environment, indicates that the company is not overseen or approved by any regulatory body, and it may lack the necessary compliance with financial regulations and investor protection measures.

The unauthorized status refers to a situation where a financial company does not hold a valid license or approval from any regulatory authority to operate its trading services. This lack of regulatory oversight poses significant risks to traders and investors as there are no checks and balances in place to ensure fair practices, transparency, and adherence to industry standards. Without proper regulation, there is a higher likelihood of fraudulent activities, mismanagement of funds, and inadequate protection of client assets.

Pros and Cons

Flying Hummingbird offers a range of forex and CFD trading services, providing access to various market instruments such as forex currency pairs, indices, commodities, and gold. The availability of leverage up to 1:500 can be advantageous for traders seeking increased buying power. Additionally, the company offers two types of trading accounts, the Standard Account and the VIP Account, accommodating different trading preferences and risk tolerances. The absence of deposit fees and a minimum deposit requirement of $1 could be appealing to those looking to start trading with a small initial investment. Moreover, the utilization of the MetaTrader 5 trading platform can provide a familiar and efficient trading experience for users.

One notable drawback of Flying Hummingbird is its unregulated status, as it lacks oversight and approval from any regulatory authority. This could raise concerns about the company's credibility and potential risks for traders, as there may be limited recourse in case of disputes or financial losses. Furthermore, the company's lack of a website hinders accessibility to crucial information, leaving potential clients with limited resources to assess the company's background, services, and terms. Moreover, the absence of customer support options can be problematic for clients seeking assistance or resolution to their queries. Lastly, the $25 withdrawal fee could be seen as a disadvantage for traders who prefer more cost-effective withdrawal methods.

Inaccessible Website

Flying Hummingbird does not have a website, making it inaccessible for potential clients seeking online information and services. The absence of a website can significantly impact the company's credibility in the eyes of investors and traders. In today's digital age, a website serves as a crucial platform for communication, transparency, and showcasing services. Without an accessible website, the company may lack a central hub to provide essential information about its offerings, trading conditions, and terms of service. This can create doubts and uncertainties among potential clients, as they may find it challenging to gather relevant details about the company's background, legitimacy, and operational practices. The absence of an accessible website could be perceived as a potential red flag, raising concerns about the company's transparency and professionalism in the financial industry.

Market Instruments

Flying Hummingbird offers trading opportunities in forex currency pairs, indices, commodities, and gold. The specifics are as follows:

Forex: Flying Hummingbird provides access to various forex currency pairs, allowing traders to participate in the foreign exchange market and engage in currency trading.

Indices: The company offers trading opportunities in indices, enabling investors to speculate on the performance of a group of stocks from different markets.

Commodities: Flying Hummingbird facilitates trading in commodities, giving clients the ability to invest in a range of raw materials and natural resources.

Gold: The company allows traders to trade gold, which is a popular precious metal often used as a safe-haven asset and a hedge against inflation and economic uncertainties.

The following is a table that compares Flying Hummingbird to competing brokerages:

Account Types

Flying Hummingbird offers two account types: Standard Account and VIP Account. Specifics are as follows:

Standard Account: Flying Hummingbird offers a Standard Account option, requiring a minimum deposit of $1. Traders with this account can access leverage up to 1:200, enabling them to amplify their trading positions. The account features a spread starting from 1.0 pips, which represents the difference between the buying and selling prices of a trading instrument. Notably, the Standard Account does not charge any commission on trades.

VIP Account: For more advanced traders, Flying Hummingbird provides a VIP Account option with enhanced features. This account requires a higher minimum deposit of $500. Clients with the VIP Account can access greater leverage, up to 1:500, allowing for increased trading potential. The account features a tighter spread starting from 0.5 pips, indicating potentially lower transaction costs. However, the VIP Account comes with a commission of 5 USD per lot traded.

Minimum Deposit

Flying Hummingbird offers competitive minimum deposit rates for its trading accounts. Traders can start trading with as little as $1 for the Standard Account, while the VIP Account requires a higher minimum deposit of $500. These deposit requirements allow traders with varying budget sizes to participate in the financial markets and access the company's trading services.

Leverage

Flying Hummingbird offers competitive leverage options for traders. The company provides leverage up to 1:200 for the Standard Account and up to 1:500 for the VIP Account. Leverage allows traders to control larger positions with a smaller initial investment, potentially amplifying both profits and losses. With leverage ratios like these, traders can take advantage of increased buying power and have the flexibility to tailor their trading strategies according to their risk tolerance and market preferences.

The following is a table that displays some of the differences of max leverage between Flying Hummingbird and competing brokers:

Spread

Flying Hummingbird offers competitive spreads for its trading instruments. The company provides a spread starting from 1.0 pips for the Standard Account and a tighter spread starting from 0.5 pips for the VIP Account. The spread represents the difference between the buying and selling prices of a trading instrument, and with lower spreads, traders may benefit from reduced transaction costs. The availability of varying spreads allows traders to choose an account type that aligns with their trading strategies and preferences, catering to both cost-conscious traders and those seeking potentially lower transaction expenses.

Deposit & Withdrawal

Flying Hummingbird accepts only wire transfers as the deposit and withdrawal method. Traders can fund their accounts or withdraw funds using this banking option. There are no fees for deposits, making it a cost-effective choice for traders looking to add funds to their accounts. However, it is worth noting that there is a $25 fee for withdrawals.

Trading Platforms

Flying Hummingbird offers the MetaTrader 5 trading platform for its clients. MetaTrader 5 is a widely used trading platform known for its user-friendly interface, advanced charting tools, and a range of technical indicators. It allows traders to execute trades, access real-time market data, and manage their trading accounts effectively.

Customer Support

Flying Hummingbird has no customer support channels available, which leaves traders without a designated channel to seek assistance, resolve queries, or address issues related to their trading accounts. Customer support plays a crucial role in building trust and confidence among clients, as it offers a direct line of communication between the company and its customers. Without customer support, traders may feel isolated and unsupported, leading to frustration and dissatisfaction. Any concerns or issues faced by clients may go unresolved, potentially resulting in negative feedback and reputational damage for the company.

Additionally, the absence of customer support may deter potential clients from choosing Flying Hummingbird as their preferred trading platform, as they may prefer brokerage firms that offer readily accessible and responsive customer assistance. Ultimately, the lack of customer support can hinder the company's ability to provide a positive and satisfactory trading experience, impacting its credibility and client retention.

Customer Feedback

Customer feedback for Flying Hummingbird indicates a mixed sentiment from traders. Some clients have expressed concerns regarding difficulties in withdrawing funds, with claims of being asked to pay additional taxes and charges before being able to withdraw. Other feedback mentions encountering issues related to completing overdraft requirements for withdrawal and facing requests to trade specific assets before withdrawal is allowed. Additionally, there are negative reviews claiming that the company is a scam and that they have not been able to withdraw their funds for an extended period.

Conclusion

Flying Hummingbird is an unregulated trading company based in China, offering a variety of trading services and access to forex currency pairs, indices, commodities, and gold. Traders can choose between the Standard Account and the VIP Account, each requiring distinct minimum deposits. The company provides leverage up to 1:500. The MetaTrader 5 platform is utilized for efficient trading experiences.

However, Flying Hummingbird's unregulated status raises concerns about credibility and potential risks. The absence of a website and customer support options limits accessibility to crucial information and assistance. The mixed customer feedback and potential challenges Flying Hummingbird's services.

FAQs

Q: What type of trading services does Flying Hummingbird offer？

A: Flying Hummingbird provides forex and CFD trading services.

Q: What are the available market instruments for trading？

A: Traders can access forex currency pairs, indices, commodities, and gold.

Q: What are the account types offered by the company？

A: The company offers the Standard Account and the VIP Account.

Q: What is the minimum deposit required for opening an account？

A: The minimum deposit starts at $1 for the Standard Account and $500 for the VIP Account.

Q: What is the maximum leverage provided by Flying Hummingbird？

A: The maximum leverage offered is up to 1:500.

Q: What trading platform does the company utilize？

A: Flying Hummingbird employs the MetaTrader 5 trading platform.