HQ Broker website capture

HQBroker.com scam

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. 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 take time to confirm identity of commentators below.

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

19 thoughts on “HQBroker.com scam”

  1. Hi I am in Quebec, province of Canada. They called me today with a poor french speeking. They were asking me to deposit 100$USD instead of 250$ ( a deal!) to open my account… and they took care to know my level’s knowleidge of web, trading, etc. I also spended their time while my phone was registrating the conversation. It seem to me to be a good scam. (Sorry for my bad english, I’m a french speeker 😉 )

    1. Yes they’ve actually called me twice more and didn’t realise they’d called before. The second call came from +44 20 3817 4627.

      The last time the phone call was from Manchester UK, so they’ve got a VOIP solution that allows them to call Australia and Canada cheaply.

      Alternatively they may be buying service from some of those VOIP scammers out there who hack a small company’s VOIP service run up huge bills for the end user.

      I tried a different tack on the last call as I didn’t have 45 minutes to waste. I immediately accused them of being a scam and told her to google HQ Broker. She claimed all the negative reviews were from competing services and that it’s easy on the internet to get those to number 1.

      “You’re a scam!” I replied.

      “No we’re not!” she demanded.

      We did this 3 times.

      And then she asked, “why are you wasting my time?”

      “Because you’re a scammer!”

      She angrily said, “You think this is a waste of time? I’ll call you a thousand times now.”

      “Just try it.”

      Then she hung up.

  2. i invest 8000 $ USD in this compagnie in december 2017 i made trade myself and i made a profit of 10089 usd …i did try to wihdraw some of my profit…it never work they only send me my investment back and since then they try to make me signe a agreement that will make me have10% of my profit… after reaching a trading volume of 1000…..

    why would i get only 10% of my profits why would someone signe that kind of aggreement ……

    last week we had a agreement …are agreement was: they send me 5000 usd and i erase everything i put on the web when i have the money in my account….. since last week they keep calling me putting pressur on me to erase everything… i said no !not till half of my profit is in my account ..(5000$USD)..they keep telling me that the money is on its way to my bank account and the transfer could take 5 working days….so i waited……. today mars 14.2018 someone just called me a said to me that i didnt respect the agreement …..that is not true ….and they cancel my money transfert last week because of that ..but just yesterday some called me to assure me that the transfer is done………this is a small part of my nightmare…..

    1. Yes Vicky I feel your pain, although why would you send them $8,000 in the first place?

      They make it nearly impossible to get money out.

      Unregulated, unscrupulous, unforgettable.

      1. Hello Paul, it seems like you can relate with Vicky. Have you had any experience with our company? How can we help you?

          1. Hello Paul, I’m from HQBroker, do you mind if you expound this matter? We would be glad to assist you with any of your concern from our company, but we would need more information from you. Looking forward to your response.

    2. i just got my profit and in the same time a new french broker who was very kind he explain me the rules and regulation of the compagnie. i also got a good service from the legal department it was all a big misunderstanding from both part… now its all fixe. and i am still a client

      1. Hi Vicky

        I’m not sure I believe that it was all a big misunderstanding.

        HQBrokers are aggressively trying to get ahead of bad press. I’ve had them reach out to me here and I see there efforts on other sites. Did they refund 100% of your deposit and any gains as promised?

        There are still too many red flags for this operation.

        Their hard-sell sales tactics are too much.

        The lies they told to sign me up are documented in the main post.

  3. No.. It lose its credit, as my friend from HqBroker teletellers sales told me that, the manager who trained them, told all the callers to hard sell this.. And the company won’t be liable for the loses balance that any client sign up.. As they only care is commission they earn from fees and amount of money plug in this monkey MLM business of scam..

  4. Thus far I have been called by HQ Broker more than 20 times over the past few months, They call from different numbers:

    4th April
    10:46AM +1 647-989-8384
    9:04AMPrivate number
    3rd April
    2:07PM +44 20 3403 9281
    2:06PM Private number
    29th March
    6:04PM +44 20 3169 9197
    28th March
    Private number
    21st March
    7:38pm +44 20 2892 9411
    20th March
    12:52pm +44 20 3953 7863
    12:51pm Private Number
    19th March
    1:39pm +44 20 3816 5690
    15th March
    5:34pm +852000643148

    This is just for half a month, every time I ask them to take me off their call list and that I have no interest in their services so they are wasting their time calling me. I have asked to speak to a supervisor or someone who can take me off their call list. At this stage it is Harassment. I have had my phone number put on a no call list months ago which means they are not supposed to be calling me. Clearly this company has no scruples or level of professionalism what so ever. 1 I am on a no call list. 2 I have specifically asked to opt out of their calls or service. When I ask to speak to a supervisor the person (sometimes man sometimes woman usually with an Indian accent) says that they are the supervisor. When I ask to be taken off their call list they tell me ”thats not my job” ” You asked to receive this call”

    Clearly it is a total scam and should be shut down. Its only though awareness that we can do this!

    1. Totally agree with you. So far I have received a dozen calls from HQ Broker. Even each time, I told them to remove from their call list politely, I still receive their frequent calls.
      Just wondering where can I file a complaint against this HQ Broker. Or it might be impossible, given that this HQ Broker is entirely an illegal scam.

    2. Hello Michael, I’m from HQBroker and I would like to clarify your concern. Firstly, we legally obtain our clients’ information through campaigns, referrals, and through signing up on our website and/or any of its affiliated websites. You may have been referred, or may have signed up for any of our campaigns. With that, we would like to reassure you that we do not pry our clients’ details. If you wish to have your information removed from our system, we would gladly help you. All you need to do is email us your full name, including your number that you receive calls to, and send these to support@hqbroker.com. Also, this particular circumstance may also be somehow inaccurate, since at this moment, with all due respect, we don’t have any Indian (local/native/speaker) representatives. Thank you.

  5. I received a call yesterday and again twice today from them one from +44 number the other from a Australian number both times I told them to remove me from their database and that i was not interested they keep asking me questions. In the end i just did not answer them anymore put the phone down and they just hung up. Hopefully no more calls from them.

    1. Hello “Meme”, I’m from HQBroker, and if you happen to receive multiple calls from us, please email us directly to support@hqbroker.com providing your full name and phone number, and we will surely remove you from our system. We do apologize for this matter; we have had troubles with our data base for the past few weeks, but please know that we are striving to resolve this issue. Sending us an email directly would be of better help. Thank you for understanding.

  6. I just received a call form HQ Broker with the promise of increasing my revenue stream. The guy had a South East Asian action with kids screaming in the background. The number originated from UK

    +442033412365

    Kept on going about increasing my revenue stream when I asked what it was about, hung up.

    1. Hello Gopal, I’m from HQBroker, and if you need further assistance, like removing your information from our system to no longer receive calls from us, please email us directly at support@hqbroker.com, providing your full name and number, and we will surely act on this quicker. Thank you.

  7. Same thing. 2 calls each day for the last 2 weeks. All from UK numbers. I’ve tried quizzing them, hanging up, being abusive. Next time I’m blowing a whistle down the line

    1. Hello Denis, I’m from HQBroker, and we hear your concern. If you wish for your information to be removed from our system, please send us your name and the number you are receiving calls from HQBroker, and email us directly at support@hqbroker.com and we will gladly accommodate your concern. Thank you.

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