HQ Broker website capture

HQBroker.com scam

BLUF (Bottom Line Up Front): HQ Brokers is a scam. Even ASIC (Australian Securities and Investments Commission) thinks so.

I just got a cold call from +44 22 0296 9287 claiming to be from HQBroker. They claimed to allow trading in “international markets” including “the big four – Stocks, Currencies, Commodities and Indexes”. I asked on which exchanges can I trade and they seemed to be confused by that question. NYSE, ASX, NASDAQ, LSE who knows.

They claimed that 20% of their clients were in Australia. More on that later.

They claim they are “regulated” and “licensed” but when I challenged that claim they started naming large American financial institutions that provide “liquidity guarantees” to them. Their website states they are licensed in Poland [updated 4 June 2018]. Without an Australian Financial Services (AFS) Licence, I pointed out that they were making an illegal brokering solicitation in Australia. They said that opening an Australian office is difficult but that as soon as they have 1000 active traders they will do it.

Aside: If 20% of their clients is less than 1000 traders then they have less than 5000 clients, right?

The “securities manager” I was now talking to said they were a large “international company” trading in “international markets”, surely their IP address would be blocked if they were not regulated and licensed in Australia. I pointed out that Australia currently only blocks piracy sites.

While unlicensed, cold-call, broking solicitation is illegal in Australia, that wasn’t where it got really scary.

The zinger? HQBroker offered “software with 100% successful record that monitors the market 20 times a second, 5 days a week, 24 hours a day”. Even forex markets are closed once the New York market closes on Friday afternoon (local time) until Sydney opens on Monday morning (local time). In reality that means there is about a day and a half that we can’t trade retail forex. Interbank forex is manned 24/7 but retail investors can’t access that market.

I honed in on that 100% success claim. Nobody (and no AI) hits on every trade, some trades just don’t pay off. But they wouldn’t budge, they proudly said “risk free”, then “money back guarantee” if I tried their three day trial on a $250USD account opening deposit. After 3 days I could withdraw my original deposit and any gains-if there were any losses they’d refund the deposit in full.

This mysterious software not only gives trade signals but actually opens and closes trades on their international markets. It uses “mathematical models” to automatically trade for you.

Again, I expressed my skepticism at the 100% successful trade claim. “Impossible!” I exclaimed. The system has “automatic stop loss and take profit”. Stop loss? Aha! So losses are possible. “No,” he said, “because trading pairs move in sync like USD/Gold. When one is falling the other is rising.” So now HQBroker is back to pitching binary options trading as fool-proof, no-risk, guaranteed triple-digit-percentage returns.

At that point I’d finished my lunch and wanted to get back to working so I hung up, I’d wasted 48 minutes of their time while eating my lunch. A pleasant distraction.

A quick google search will show HQBroker is very poorly reviewed, with it’s corporate structure best described as “murky”.

Update: 4 April 2018 10:24 AEST: The comments section is getting some traction so I’ll leave it as a bit of a free-for-all for now. There is rudimentary anti-spam checking but that’s it. I cannot confirm identity of any or all commentators below.

Remember: On the Internet, nobody knows you’re a dog.

Update: 10 May 2018 Got a call with the exact same MO today from 03 9077 1873 but this time promoting Financials Trading Online which is listed as a scam on ASIC’s MoneySmart website. Either H Q Brokers are moving on or it’s a variation on the same scam.

Big update: 4 June 2018

[1]  Capzone Ltd (and A.K.A Hokkaido Investments Sp) is now listed on ASIC’s MoneySmart website, with the Marshall Island’s address but HQBroker email and website. Those links open MoneySmart’s website.

[2] The company behind HQBroker is Capzone Ltd originally listed as in the Marshall Islands and/or Poland, now claiming to be in Hong Kong. So they’ve started the shell game of changing structures. They give Capzone Ltd  “operational address” as 7/F, Low Block, Grand Millennium Plaza, 181 Queen’s Road Central, Hong Kong. No registered office or other legal domicile.

[3] The digital marketing and spin doctoring has begun:

  1. They brag about a “3 star” review on FXEmpire with a self-created award wreath but don’t link to it. I’ve linked to it and add your review to let people know.
  2.  They brag about a “3 star Premium Quality” at Finance Magnates with a self-created seal. But Finance Magnates don’t provide reviews. They only have a “directory listing” called a review and the “contact us directly” form goes straight to HQBrokers. People could report the listing to Finance Magnates using the form on the home page.
  3. Digital Marketing Services are provided by Pure Marketing Corp Ltd (I can’t find them yet).
  4. Their website now has instant message chat.

[4] H Q Brokers now does not offer services in USA, France and Hong Kong. Further evidence of avoiding prosecution at “home” and in aggressive jurisdiction that will prosecute foreign companies without a presence in those jurisdictions.

Update 21 June 2018

We received an Official letter from HQBroker and an Official Letter from BSD Administration. Check them out and let me know what you think on those posts.

There are also 2 comments pending with glowing reviews but fake email addresses and fake IP addresses. I’m waiting for the authors to confirm their email addresses before approving the comments. They still haven’t confirmed.

Update 27 June 2018

BSD Trade Services is possibly reduced its work due to recent police raids on similar BPO’s, but their sibling organisation GWU Marketing Corp has picked up the slack and is operating out of Clark CFEZ Philippines. Specific commentary on GWU and BSD will be on their linked posts. Please post any news about GWU or BSD there.

Update 3 July 2018

After the BSD & GWU updates with photos of key staff on Thursday, the server was attacked with 108,954 visitors over 4 days. That’s 1000 viewers per hour! Not really that much traffic and the server hummed along. You can see the analytics of the attack here https://bitly.com/2lHeI0c+

258 thoughts on “HQBroker.com scam”

  1. hi everyone, i am always a victim of HQ options scam but i was able to track the bastards down with the help of someone. write to me [redacted] @gmail.com for full details.

    WealthEsteem.org edit: please post more info or use our contact form

    1. HQbroker is a scam ! they have a fake platform to run the training , they will make you believe you have earn so much but once you tried to redraw they will close your account and never see your money again !

  2. Pretty quiet here. Does this mean the scammers have dropped the HQ Broker brand and moved elsewhere? And I presume the legal threats against this website turned out to be puffery. KP.

    1. HQBroker is still fully operational the same way as before and legal threats against our company did turn out to be false and deceptive. We maintain our integrity in providing our clients the support needed in achieving their financial freedom. If you have more questions and concerns about our company, email us at support @ [redacted]

      Wealthesteem.org edit: Stop posting email addresses in comments on this site.

        1. Hi Alexandre,
          Find me in Facebook. I am a victim too but I have recovered half of my money through my bank. Don’t worry, I don’t charge, just want to help.

          can find me in facebook with the name of marcusfootiangkit

    2. Actually there just isn’t a lot of new info coming through. HQ Broker claims they are still operational. They keep spamming the comments with more of the same stuff they posted earlier and ask people to email to sort out problems. No real names, no working email addresses, no new information.

      The legal threats against WealthEsteem.org have escalated so they are no longer puffery. The support companies may have retained an Australian law firm – trying to work out if it’s legit. If it is a legit law firm I’ll continue to publish new info as it comes to hand.

  3. Thank you for this article. I received a call from HQ Broker today and the lady on the line mentioned that they are “still” based in Hong Kong. I asked if her office is in Malaysia and if I could meet someone in person and she replied with a negative. She went on to talk about the guaranteed profits that I could earn with no minimum deposit and their 5 free trades offer. Thankfully our call got cut off twice and she gave me plenty of time to search for some reviews. I knew I should have hung up earlier but given that I was interested in trading anyway, and have zero experience, I almost bought into her “no minimum deposit” deal. (I know of risks but I could try with 50 bucks)

    Once again, I’m grateful that this article stopped me from parting with my savings.

  4. HQBroker is very strange. After my i published my article ( you received the pingback ) they used Cloudflare to force the removal of my article.
    And too, after my article they go to “Reclame aqui” ( it’s a site to contact companies about problems with the costumers ) and contact some of them to solve the problems.

  5. Hello! What is the situation with hqbroker now? Do you have any news? Did people get their money? Have you solved misunderstanding? Also interested in the position of the representative hqbroker.

  6. Also I am interested in the company’s position on regulation and license number. I adress this question to representative hqbroker. Please, answer the question.

  7. it has been almost 2 weeks since i place an withdrawal order with HQbroker.
    They keep on delaying to process the request. Call the support almost everyday and all they can do is open a ticket to the relevant team for processing, but no update received. my Broker is useless and not helping in any way. Regret to put my trust in them. Keep away from this company..

      1. This company is a pure scam and the advisors give claims of “You will not lose” and that your money will never be at risk. I have lost 30k with these people as they made me place a succession of trades which he advised he was checking the data so needed me to place the trades myself. I told him I had no experience of this but he said u will not lose but suddenly he made me lose just short of 30k. As soon as it happened the advisor says what have you done when he himself made me place the trade. This trade happened after I was adamant of a withdrawal and had been asking for it for almost 4 weeks. These people have ruined my life and should not be trusted with a penny. There is no winning and their claims are all lie and they are very good at making u believe them. Be warned. I will have to say bye to my money as they are unregulated and I have no way of getting this back.

        1. Hi Roger,

          Contact your bank to initiate chargeback against them. I am also initiating a chargeback with a help of a consultant. I have recovered half of my money, and I am waiting the other half to come in hopefully.
          You may find me in facebook with the name of marcusfootiangkit

          Thanks
          Marcus

  8. I just receive a cold call from HQ Broker, I tried to ask a call back number , they refuse to give me , after about 15 mins they decided to drop , but before they drop the call they give me 20X the F word .. including F my mother before they drop the call

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