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Abstract:Hwg says to be a safe and trustworthy broker, offering superior trading conditions with a choice of two account types, leverage as high as 1:1000, and a good selection of trading instruments, including well over 50 currency pairs, and lots of CFDs on precious metals, oil, stocks, 13 major indices and some crypto coins like Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash. And all of that comes on a well known platform – MetaTrader4. The offer may surely seem attractive, if only HwgSecurities was a legit broker. Unfortunately they are not. They have no legit forex license and they are based offshore, which significantly lowers their credibility.
No. HWG is not legit, because they are a unregulated, offshore broker, and by definition a unregulated, offshore broker can not be legit. Check our list of UK regulated brokers instead.
The company behind Hwg – HWG is said to be based offshore on St. Vincent and the Grenadines, which basically means that you will never know who the real owners of the broker are. Offshore companies are registered exactly to provide anonymity and to make any legal action against them extremely difficult if not impossible.
And because we are talking about an offshore broker, the other major problem is the lack of a legit forex license. A legit license issued by an official and reputable financial regulator like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or let say the Cyprus Securities and Exchange Commission is your only insurance against scammers.
This is because regulated brokers are subject to strict supervision and have to follow strict rules, when dealing with clients – both fiscal and ethical. So, when choosing a new broker make sure it has a legit license, by checking the registers of the respective regulator.
And never take for granted anything a broker might tell you, if you have not verified that it is licensed and authorized.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
We are thrilled to announce that Easy Trading Online has been awarded the “Best Forex Broker - Asia” at the Wiki Finance EXPO 2024 Hong Kong! This prestigious recognition underscores our commitment to excellence and dedication to providing top-notch services to our clients.
On the evening of April 28, Easy Trading Online proudly received the 'Most Trusted Forex Broker' award at the BrokersView 2024, hosted by Fastbull. This accolade is a testament to our steadfast dedication to providing reliable and superior trading services in the forex and CFD brokerage industry.
The BrokersView Expo Dubai 2024 is a premier event in the financial industry, bringing together top financial institutions, brokers, and technology providers from around the globe. As the Gold Sponsor of BrokersView Expo Dubai 2024, Easy Trading Online took the opportunity to showcase our latest products, service technologies, and core competitive advantages in the forex trading field.
On the 23rd of March, the Easy Trading Online family had the distinguished pleasure of being the Table Sponsor at the prestigious Wiki Gala Night. As we reflect on the event, it’s with a sense of pride and joy that we share the highlights and our takeaways from an evening that was as inspiring as it was splendid.