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”.

5 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 đŸ˜‰ )

    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.

    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

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