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+

226 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. They just called me today (I’m in Quebec too) but it was a guy speaking french and I told him I spoke English only and he hung up straight away! Haha!

  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.

      2. Okay Vicky given the continued dodgy practices of HQBroker I wonder if you really did get a refund? Or if you ever actually deposited $8K with them in the first place?

        If they promised to refund only if you recanted your post I’m pretty sure your still out of pocket.

  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.

        1. Unfortunately it is useless. Have done many times, and the caller today said he was still able to call and for me to get the ombudsman on the call. For any HQ rep on here, you are breaking Australian Law as has moved on from Telecommunications Act to Harassment which can be prosecuted globally.

    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@[redacted]. 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.

      1. Of course you have Indian accented callers. We’ve all heard them. But your call centre is full of many accents. You do not have permission to call people but you still do. Over and over again. You’re messages are obviously trying to get ahead of the bad press.

      2. This is rubbished. They called me yesterday and today. I asked for my name and number to be removed from their database. Very hard sell, aggressive and rude.

        The ‘ladies’ who called me sounded like they were from Indian…

        Nasty business. Get a real job.

      3. This is either not true, or they purchase their data from an illegal source. I 100% know I did not give them permission to call me. I 100% know that I did not give “my details online asking about earning extra money”. I have had 2 calls so far, the first one I ended, the second one they ended (rudely because I “wasted their time leaving my details”). They ended the call when I asked them for their company details so I can report their illegal activity.
        They don’t use the same number each time, and although they have clearly got the data from somewhere and it’s not a completely cold call in their eyes (they have my first name), this is an illegal use of data and must be reported to the authorities in every territory.

      4. I just had an horrendous phone call from someone at HQ broker which as offensive, intrusive and entirely rude. I have not been on a financial website or expressed my interest in any website whatsoever related to this and especially with my nickname which I do not use when filling in my first name – this makes me feel incredibly uncomfortable and violated as to how you got my details. I consistently asked the caller not to use my, not even first but personal nickname, and he continued to do so while hassling me down the phone. As a fairly intelligent person I can tell when something is a scam within 2 seconds but I dread to think the vulnerable people you’re taking advantage of.

      5. Dear HQ Representative
        If I ask for my details to be removed from your system 3 times, then that is twice too many, irrespective of any do not call registers. Now as for the 20+ times you have called me from different numbers illustrates your crude customer management and why I would never deal with such a dodgy company. Your company keeps calling and each time is another time I will find every online article about your company and share this same harassed experience.

      6. Prove it. I’ve received several calls and have never signed up, or authorised you to use my personal contact information.

        You are violating the EUs new GDPR privacy regulations.

        On the last 4 x calls I’ve told each agent from HQ Brokers that I don’t want to receive these calls and you keep calling.

  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@[redacted] 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.

      1. Here is a simple understanding. If I say do not call me ever again, then don’t. I don’t need or want to communicate any further with your company.

  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@[redacted], providing your full name and number, and we will surely act on this quicker. Thank you.

      1. I have a better Idea. Why don’t you just comply with each countries national laws surrounding unsolicited calls? I’ll attach some Australian legislation below, so instead of asking my to give you my number and hand over information about myself which I’m obviously not going to do, you could just access the Australian Do Not Call register and then don’t call numbers from there like you are legally required. Yeah?

        The legislative arrangements that underpin the register include the:

        Do Not Call Register Act 2006 —establishes the register, and outlines rules for making unsolicited telemarketing calls and sending unsolicited marketing faxes to numbers on the register.
        Do Not Call Register Regulations 2006 —specifies the types of calls that are not telemarketing calls and the people deemed to be nominees of a relevant account-holder
        Telecommunications (Telemarketing and Research Calls) Industry Standard 2017 —sets out the minimum requirements for those making telemarketing and research calls to Australian numbers, including when and how they can make certain calls
        Fax Marketing Industry Standard 2011—sets out minimum requirements for those sending marketing faxes to Australian numbers, including when and how fax marketers can send certain faxes.

  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@[redacted] and we will gladly accommodate your concern. Thank you.

      1. Yeah – did that. Now getting calls that come up as “Australian mobile” numbers instead of “UK landline” numbers (they are actually all internet calls). Not sure how scammers like HQ Brokers expect to make money by harassing people who tell them directly that they are not interested – repeatedly. Illegal, harassing, rude, unethical, dishonest scammers. Does that cover it?

  8. I’ve had the calls from
    +44 20 3235 5067
    +44 20 3932 7940
    +44 20 3438 6555
    +44 20 3140 4223

    I’ve answered twice but the delay on the line is tooooooo long to get any sense out of them.

    1. Hello Matty, I’m from HQBroker. Please understand that we are currently experiencing difficulties with our database. We would highly appreciate it if the proper procedure will be followed in order for your information to be removed from our system. Please email to support@[redacted] your full name and phone number which receive phone calls. Our team is doing the best efforts to fix this issue as soon as possible. Thank you for understanding and for your cooperation.

  9. Looks like we are all having the same issue here!! I have recieved 15 call in 3weeeks from HQ Brokers, I have tried being polite, I have tried screaming at them, I have tried not answering, I have tried everything and yet they still continue to call me. I am seriously at my wits end with these scammers. Like the rest of you, I “apparently” signed up to receive these harassing calls. If an actually representative from HQ Brokers actually reads this, please kindly tell your call center scammers to leave me the hell alone.

    1. Hi Shannon, I’m from HQBroker, and if you have the same concern of receiving repetitive calls, please do email us your full name and phone number so our team can assist you and have your information deleted from our system. We are currently experiencing troubles with our database, but I guarantee you that our team is doing its best effort to fix this issue as soon as possible. Your cooperation is highly appreciated. Thank you for understanding.

  10. I have a better Idea. Why don’t you just comply with each countries national laws surrounding unsolicited calls? I’ll attach some Australian legislation below, so instead of asking my to give you my number and hand over information about myself which I’m obviously not going to do, you could just access the Australian Do Not Call register and then don’t call numbers from there like you are legally required. Yeah?

    The legislative arrangements that underpin the register include the:

    Do Not Call Register Act 2006 —establishes the register, and outlines rules for making unsolicited telemarketing calls and sending unsolicited marketing faxes to numbers on the register.
    Do Not Call Register Regulations 2006 —specifies the types of calls that are not telemarketing calls and the people deemed to be nominees of a relevant account-holder
    Telecommunications (Telemarketing and Research Calls) Industry Standard 2017 —sets out the minimum requirements for those making telemarketing and research calls to Australian numbers, including when and how they can make certain calls
    Fax Marketing Industry Standard 2011—sets out minimum requirements for those sending marketing faxes to Australian numbers, including when and how fax marketers can send certain faxes.

    1. I think it will just take time for them to move on to their next scam.

      That’s why people should not send them an email. It’s just a new database to test their next scam on.

      I decided to write this post for myself but it quickly has generated interest.

  11. Totally dishonest company (or scammers? I’m not convinced they are in any way legitimate) that called me on a public holiday (Anzac Day). I find that in itself to be unprofessional, however, it is one of approximately 10 calls I have received from people claiming to be from HQ Broker making all sorts of outrageous claims regarding the returns I could make. I ask to be removed multiple times, one of them even just laughed and hung up. Their failure to address any of the concerns raised is also telling.

  12. They called me on 23 April. Knew it was a scam before even answered the phone. Had a hilarious 40 minutes leading them up the garden path. Conversation exactly as you describe, anser to every Q was that for a $250 outlay you would make $400-600 per week. Eventually got bored, and told them I they were scammers. This really upset them and they started shouting abuse down the line. Free entertainment!!

    1. Hi KiwiPaul, I’m from HQBroker. Do you mind leaving more information (MT4 ID) so we can assist you better with your concern? Thank you!

  13. These people are really annoying.
    They constantly call you every single day, trying to convince you to start trading at $250 (R3 100) South African Rand, they ask for banking details even when you tell them that you are not interested in their products.

    ‭+27 (11) 710-1561‬
    ‭+27 (11) 068-6391‬
    ‭+27 (11) 362-1989‬

    These are the numbers that have called me this week alone, I guess they have managed to get South African land line numbers and they busy harassing people with them.

    I have queried the Financial Services board, CIPC, Revenue Services and South African Reserve bank and non seems to be registered with them.

    Scammers!!!!!!!

  14. HQ Broker has rung me over 30 times in the last month, each from a different landline number and country location . Each time they claim that I have requested them to contact me with regards to making a second income. I have tried various techniques, saying I’m too young to trade, not interested, broke etc etc but every couple of days a different person calls me up. If HQ Broker is not a scam, “why the need for different call lactions”? If you call the number back it doesn’t connect. Scam Scam Scam……

  15. You must be joking. I would never give contact details to this group, and strongly urge nobody else too either.

    Boy did they ever get the wrong guy when they tried to scam me. I happen to be senior at a funds management organisation. Our office was in fits of laughter as the call proceeded. It quickly became apparent that the caller knew nothing about investing, beyond the few lines he had to parrot. Had real fun tying him in knots – don’t know how we kept a straight face. The claims about 100% return every week are clearly ridiculous, as were many other things he said. I can only presume that they target the really gullible. The language when I revealed that we’d known it was a scam from the start revealed the true colours. Avoid at all costs. KP.

    1. Yes, I just got called today from an Australian prefix . Delay and crowd noise in the background are first suspicious signs. Then distant Indian accent. I just hang up. Getting a few such calls in recent weeks.

  16. Scam!!!!

    0852005761115

    I just received a call from a ‘Harry’ from this company, who asked me if my name was correct and introduced me to the reason of his call. I immediately said I have never enquired and am not interested. He then asked me what my reason was for signing up (?). I stated that I have never done so or ever heard of the company, and repeated again that I don’t want to talk to him. He laughed at me and said that I signed up two years ago, so there must be a reason! It went on and on for about five minutes, and he began to get extremely rude with the worst customer service (if you can even call it that) I have ever experienced. He kept asking why I had signed up, and I again had no answer for him as I’ve never done so, but he would not take this for an answer and kept making an amusement of it, knowing that I was getting angry. Once he finally stopped talking I told him how this is not ok and you cannot talk to someone like this, especially if you’re trying to scam them and get money from them. I got his name, number, and this business name, and will be reporting it wherever possible. Most call centres understand and thank you for your time and life carries on. This is utter nonsense

  17. I’m in Singapore and i received such call today from

    +61409464294 which my samsung s8+ smart service registered it as an australia number from a man call James.

    But no. Its a lady on the call with Philippino accent who insisted that I’ve shown an interest in making additional money. When i challenged that i didn’t, she said i was referred by another person. Just crap.

  18. They haven’t called me now for a couple of weeks. My hunch about the way these goons work is that they blitz a region, then move along to another one. Unfortunately I guess they’ll be back, perhaps in another guise.

    Oh, and a bit of math. If you made 100% return every week, after one year your initial $250 investment would be worth five hundred thousand trillion dollars (5 followed by 17 zeros). That’s more than the combined value of all the world’s stockmarkets plus government debt. You’d pretty much own the wealth of the planet. And after year two you’d have most of the universe as well.

    Beyond absurd.

  19. These bunch of scammers. Report them to ACCC scamwatch please. I have done so myself.

    Received multiple calls from them after asking them multiple times not to HARRASS me again.

    First time they called, “referral from a friend”. I insist on more information to which the c*** replied they he can’t tell me more information. This was followed by “let me set up an account for for you now so you can start making money”. I said no and I’m not interested and to leave me alone. He followed up with “I never heard of anyone not interest in making more money blah blah blah”. After trying to nicely tell him nicely but firmly i’m not interested he insist and becomes rather aggressive to which I just hung up to.

    Received another few calls from them to which I’ve blatantly hang up when they said HQ Broker and other few where I told them not to call again.

    Anyway, long story short, I receive a call from them again last Friday(4/5/18) so decided to play along with it this time. After wasting the rep time for a good 10-20 minutes she decides to hang up on me aruptly! Ah well, guess she didn’t want me to open an account after all!

    1. Got a call from them again today! Wasted another 20 minutes of their time! YES!

      So a female starts out with the same line of me shown interest in HQ Broker blah blah blah. To which I reply “how have I shown interest” which gets a response of a friend referred you which I ridicule as “how is that me showing interest? ” to which she says I’ve been referred. Some back an forth as she tries to shrug the question and move along. Ignoring her line of question I started questioning their legitimacy and how they are in fact unlicensed in Australia and they are calling me illegally.

      I think I stunned the poor female rep which I must admit was quite fun! Anyway after some silence, I get a guy who chymes in and identifies himself as “Josh Kennedy and head of HQ Broker” and defends the legitimacy of HQ Broker and how they are licensed internationally and if they won’t legal “how are we calling you in Australia” LOL. Really!?! The Nigerian Prince can call me and tell me about my inheritance for all i care! After some back and forth, he ask me to stop wasting their time to which I asked I already told them to stop calling me to begin with. Some A1 customer service skills right there.

  20. I have managed to waste another 40 minutes of their time today. Yes!!
    A few months back I made a $100 deposit (before I had read anything about HQ) and my ‘account manager’ Stella, showed me how to make a couple of trades on MT4 . Once I had made a profit of $9 I asked to withdraw! I wanted to see if she was genuine.
    Stella tried to convince me to deposit 4k to buy a stock she was tipping- after all she had proved that she was legit! I said no thanks.
    My money was refunded in full (plus profit) by wire transfer after a couple of weeks of back and forth emails with compliance documents.
    See it does work so why not invest more?
    By the way, teaching you to trade consists of getting you to open MT4 and place a trade on her instructions. In both cases the trades closed out in profit, but there was no teaching on why those trades were chosen, and no tech or fundamental analysis provided. ( Maybe that is reserved for the high rollers?)
    Today a new guy from the vast array of HQ ‘brokers’ wanted me to deposit again so he can trade for me.
    He doesn’t use any stop loss settings!! but his money management will not expose more than 30% of my account in a trade- so that’s a relief! He did not sound too knowledgeable for a trader and I asked lots of questions about trading. His answers were not convincing and he always steered me back to making a deposit without addressing my concerns.
    I told him I still think it is a scam and I am not interested in losing money to an offshore broker where a line on a website representing my profit can be so easily concocted.
    Realise that these guys are holding all the cards – you have to provide your identity and bank information as part of their KYC conditions, but where is the reciprocal KYB (know your broker) information?

    1. Hi Red,

      Thanks for your comment on the actual process. I’m a bit worried that your experience may convince some people to give them a go and try to get out before the other shoe drops. This is related to the “greater fool theory” as there is always a greater fool who you an off-load a bad investment to at a profit.

      How can there be no stop loss but a limit of 30% of the account per trade? That is not a money management system. It’s not even a rough risk of ruin calculation.

      Stay away!

  21. Hello,

    I’m in Quebec and received 3 calls from them in the last 3 days. The numbers are VOIP gibberish. I finally answered to an French speaking, strong African accent man that tried to convince me of jumping on this trading account offer that included a 150$ sign-in bonus. I argued with him a while and then his “supervisor” who also had the same accent. In between them, I could hear all the chatter (and African music) around them as long as them arguing. Very unprofessional and shady.

    No broker operates that way. I pointed out all the scam alerts on the internet about the company and they aggressively asked if I personally verified every one of those accounts. Of course not, what does that prove ? They both repeated that this was done has bad press by their competitor in order to steal clients in the long run. Both had the same (rehearsed) answer. I explained that no other legit broker I Google has any of those auto-complete red flag labels.

    I still had a bit of fun with both over the hour long call. They told me they traded over I-don’t-remember-what platform and that they had a license, and they wouldn’t have one if they were fraudulent. They told me they traded Bitcoins so I jumped on the opportunity to have them explain to me what Bitcoin was. Both gave me a short Joe-the-plumber explanation. When I asked them to explain precisely what the blockchain, difficulty and blocks were and how those concepts functioned, they stumbled and went on with gibberish. One of the guys heard “difficulty” and went on to explain to me that the difficulty with Bitcoin was that some countries don’t accept it. I explained that difficulty had to do with mining and that with a finite number of Bitcoins, the more people were mining with ASIC devices, the more the difficulty was going up. I also pointed out that people were not buying (or mining) Bitcoin or Alt coins to use them as currency, but to speculate on the value of the currency. All this went over his head and I had to repeat 5 times.

    All-in-all they always redirected the conversation to they key selling points. That 150$ sign-in bonus, the guarantee of returns and a 3 to 6 % a day profit. When I heard that figure I could not hold back the laughter. No investment can make that much profit. That’s up to 2 070% interest per year… … … guaranteed…

    The call finally ended with me just trying to sympathize with them just cold calling and relying on a number’s game. Just admit this is a scam, I asked on and on. They hung up.

    1. Oh I forgot, they pointed out that THEY called ME, and asked “why and how would we have your number ?”. As if this was a proof of legitimacy. Quite the opposite ! I explained that I can open of the yellow pages right now, pull out any number, call the person and tell them I have his/her number. I also pointed out they didn’t know anything about me other than my number and that I live in Canada, proving that they are picking numbers for a scam call list these companies share among them.

  22. This company is a complete scam. They are all over the web with horrific reviews from people saying they are being cold called from them everyday.

    The +44 0203 ****** numbers appear they are calling from london but this is fake. 0203 prefix numbers can be bought by anyone for just £3 per month.

    There is little you can do about these scammers apart from block their numbers which i do but only after I keep them hanging on the phone as long as possible. I like to waste their time.

    1. Hello Jon, I’m a representative from HQBroker, and I’m pretty sure a lot of companies like us get negative reviews every now and then. It’s not something new on the internet. If you wish to have your details removed from our system, you can always email us your phone number and full name and we will gladly do so.

      1. Why can’t you just remove the details when you are told to on the phone? Email should not be required.

        Reputable companies do not break securities laws by illegally soliciting brokerage clients, breaching privacy and telemarketing laws to gather people’s contact details and harass them on the phone.

        Reputable companies lie about their regulated or licensed status.

        Reputable companies do not make outlandish and impossible claims about the returns and risks associated with highly leveraged financial market positions.

        Reputable companies do not get listed on Government run scam-watch websites.

        Reputable companies do not get the number and intensity of negative reviews you get.

        Reputable companies list their CEO’s name, and the names of representatives undertaking spin-doctoring even on a small blog like mine.

  23. I get these calls all the time.

    I usually just leave the phone on the bench and walk away while they talk to themselves and eventually hang up – waste their own time – after I’ve tried in the past to ask for my number to be removed from their database and also had the rude replies to questioning their ethics.

    Today’s call, as soon as she said HQ Brokers, I said, I’d love to hear more about it but this isn’t the best number because I’m disconnecting it today. Could she change my number to my new landline +61 3 9613 7366 and call me back on Monday.

    That’s the number for the Australian Ffinancial Ombudsman. I hope I don’t hear from them anymore.

  24. hq broker is a scam company.i invest a lot of money with this company more than 50k I refered most of my friends not knowing that I was going in a bad field.i succeded in getting my capital but my profit was denied to send to me .all my friends lose a lot. I was contacted by one of one English agent name carlos(fake name) who was surely piss off and decided to give me the following details:
    HQBROKER IS THE CONTINUATION OF TRADE12.And they are operating offshore.the main company is operating as a call center under BSD TRADE SERVICES CORPS located in PAMPANGA PHILLIPINES.Carlos told me that the call center has different desk and agents are calling people worldwide to scam them.there is no financial department they are only agent claiming sometimes to be as finance.As I was very curious to know about the French desk I asked information about the owner of the company who is jewish name Mike and his General manager name SHLOMI .my broker Marc Antoine (fake name) is called Daniel tossic and his manager is call Julien Barbier.Right now we are conducting more investigations ,and have seized interpool for fraud.next week we are going to the Philippines to dismantle this evil activity.we urge everyone that is victim about this to take an action .

  25. scam scam scam scam…
    action required to this scam company based in the Philippines .these are the details I got from carlos andy.
    -Owner of the company MIKE
    -General manager shlomi
    -Manager English desk Mabelle Manor/NIAV
    -Manager French desk sir JULIEN BARBIER and his wife FANNY BENSIMON

  26. They are a dishonest bunch of thieves that will make your life a nightmare. DO NOT give them the time of day. I was fooled into trading with them- very bad experience. I have initiated a forensic investigation into them and will in time share the relevant information when permitted. Stay away!!!!

      1. Please be very careful about flying internationally to confront scammers. They know they are acting criminally, and so may become violent.

        Secondly how do you know the principals are in the Philippines? I’m sure they have a call centre there, but they also have a call centre in India and somewhere in Africa (for the French-speakers).

    1. Hello Chad, I’m a representative from HQBroker. The information of your statement seems inadequately incomprehensible. Do you mind giving more details?

      1. The information in Chad’s statement is very clear.

        Why are you trying to sew uncertainty and doubt?

        Also please do not use a role-based email address when commenting or I will be forced to edit it.

        Legitimate company representatives also use a real name, not just the firm name of HQBroker.

  27. I’ve started from $ 100, but now i don’t have any increasing in my profit. My manager is only asking to add more money on my account, without it I won’t get any gains. For my requests to withdraw money he promises to do that only after a few deals. But I know that the company has a rule not to withdraw money to clients with open deals. I don’t have any option but to add extra $ 1 000.

    1. Do not send them any more money! That is the sunk cost fallacy in action. If they are not going to let you withdraw your $100, why will they let you withdraw $1,000? They will next ask you for $10,000.

    2. Hello Tom, I’m a representative from HQBroker. Please understand that this is part of our company policy, and is stated on our terms and conditions. If you need further assistance, please contact us via phone call, live chat, or email us at support@[redacted]. We will be happy to assist you.

      Edit by wealthesteem.org to remove clickable email link. Never email scammers they use it to build their database.

  28. Hello, I’m from Grodno. I do not speak English very well, I’m sorry. Last Friday they called me too. They offered cooperation and this requires only $ 100. I spent the whole weekend on the Internet looking for information about this company. But I on a site of the company have read through, that they to be in Hong Kong. It’s true? I agreed with the company’s manager to call on Monday. Now reading this information, I want that the representative of the company commented that from the written truth. Dear website owner, ask the representative to comment on Markogauvin’s review.

    1. They are unlikely to respond to Marco Gauvin as they only came by here to spin some of the negative press they were getting. They are 100% scammers. Nothing about them is legitimate, Keep your $100 and look elsewhere.

      1. Yes, I saw that they answered some authors. But they have not written anything here for a long time. The last time they answered the client KiwiPaul on April 26. Yesterday the manager called again, asked if I would agree to become their client. I refused, I said that I’m not ready to give them my money. And I want them to go to this site and comment on all the questions.

    2. Hello Korneichuk, I’m a representative from HQBroker, and yes, our company’s address is in Hong Kong. If you need more information, you can always email us at support@[redacted], and we will gladly assist you.

      Edit by wealthesteem.org to remove clickable email link. Never email scammers they use it to build their database.

  29. At first, I had no problems with withdrawing money from the broker. I once refused to withdraw 150 dollars. After that, there was a steady one-day delay. I used to always get money on the card up to 3 days, then the money came and 4 days. A month ago I withdrew the remaining amount of money. The money came in a week! My Manager then told me that the company transferred the money to the account. And the Bank said they had communication problems. Then everyone had problems with transactions in this Bank. I spent a lot of nerves on trading and withdraw money. I’m glad I got all my money.

    1. If you really got all you money back you were lucky. This company will eventually vanish and change their name.

      I actually doubt anyone who claims they got their money back as it is too easy to create an email address to write that. Who was your manager? How much was in your account and how long did you trade with HQ Brokers?

    2. Hello, Mariya Benson. Can you touch a few questions? How long have you been working? How many times have you withdrawn your money? It is very interesting, why one is taken out, but the other is not. Maybe it all depends on the amount you invested?

      1. Opened an account for $ 1,000. I traded with them for almost five months. Every month I took out the first earned money. It was an average of $100-150. So there were three months. Then I decided to withdraw all my money. First it was $590, then the last $ 556. The last conclusion is very late. Then I was very worried and thought that I would lose them.

    3. Hi Mariya, I’ma representative from HQBroker, and regarding your statement, digitally funding accounts is quite faster and easier than withdrawing it, which is actually a standard process for anyone operating online. Our withdrawal process may take 3 to 7 business days, and there may be occurrences that are beyond the company’s control, which should be addressed directly to the company via live chat or email in order to take the necessary actions and have the respective banks informed.

  30. I received 4 calls each from different number from Ontario today
    647-821-9712
    647-406-4516
    647-743-1798
    647-532-3514
    Any reputable company wouldn’t be stooping to such low means to contact individuals and definitely wouldn’t cold call for that matter. The guy called and asked if I spoke French, which I did, despite being in Ontario. I asked for his name and he said Francois from HQbroker. I couldn’t understand a single thing he was saying and asked him how he got my number to which he said they got it through legitimate means (yeah right!), because I never signed up for it! Scammy at best and annoyingly calling back so many times. I hope no one buys into their BS load of crap.

    1. Hello “Anyone”, I am a representative from HQBroker, and regarding your statement, we would like you to understand that we legally obtain our clients’ information through online and offline campaigns. You may have, by any chance, signed up to any of our affiliated websites. If you wish to have your information removed from our system, you can always request it via email support@[redacted].

      Edit by wealthesteem.org to remove clickable email link. Never email scammers they use it to build their database.

      1. So what specific online and offline campaigns obtained my (and others) contact details?

        Under European and Australian privacy laws, I have not given you permission to call me. Any campaigns that did not specifically disclose I was giving information to HQBroker did not legally obtain my information.

        More importantly it is up to you to record the source of my consent.

        More than once I requested to be removed from your database, but you still call me.

        Your “securities manager” lied to claim HQBroker was regulated and licenced when you are neither. ASIC (Australian Securities and Investments Commission) and the Australian Government has put you on the scam list on the MoneySmart website at https://www.moneysmart.gov.au/search?collection=asic&profile=moneysmart&query=hqbroker

  31. I received a lot of calls from this broker so I opened an account just for fun and put $250) dunno why) I didn’t want to trade at all… I opened just one deal for sale eurnzd last week with my trade manager and got $84 and I made a withdrawal of $80 right away. Money doesn’t come yet. I made a withdrawal on Thursday I think there’s still time. Waiting for my money…))
    P.S. Paul, are you a client of this broker?? (ask ‘cos you know a lot..)

    1. Hi Laurel

      I am not a client of HQ Broker. They called me and I documented the call, which became the post at the top. I’ve been around trading and traders for a long time, so I’ve seen a thing or two about scammers.

      HQ Brokers are calling globally and this page alone gets more than 1000 page views per month since going live.

    2. Hi Laurel. I am from HQBroker. This is a direct response from the company. Regarding your withdrawal, you have to make sure that your account is verified (already uploaded all the necessary documents). Please understand that the withdrawal process takes up to 48 hours while receiving (once we release it from our company). It may take 3 to 7 business days. Also, if you did not receive it with the specific date, you can report that issue directly through email at support@[redacted].

      Edit by wealthesteem.org to remove clickable email link. Never email scammers they use it to build their database.

  32. Paul, my colleague invited me there with the help of the referal programe. I think that if they pay to her, I have a chance to bring my money back too. I even don’t know… It’s my first experience at such a company

    1. Get your money back if you can. The only way they will return it is if their scam is growing. Eventually the tipping point comes and their new deposits slow down. Then they’ll stop paying anything out.

  33. I do not understand why some comments say that managers aggressively communicate. I also received calls, but I listened to them, because they communicated with me politely, they explained everything clearly and competently. Talked for 20 minutes probably, came to the conclusion that I will consider their offer! Yes, there is no reason to believe that everything will go smoothly, but at least it’s worth a try, the spread and the initial deposit is impressive. It is possible that may not go, but for such as I, inexperienced, they have analysts who will help

    1. Their spread is terrible and the only way to improve it seems to be to make a bigger deposit. That is putting even more money at risk.

      I talked to them politely for 45 minutes the first time. And 20 minutes the second time.

      That doesn’t mean they’re not scammers. Not every thief mugs you in an alleyway.

    2. Hello Gorn, I’m a rep. from HQBroker. We appreciate your feedback, and if there’s anything else we can help you with, please feel free to let us know.

  34. Yesterday afternoon there was a call from HQBroker. With the Manager talked about half an hour. I said I’ve never heard of this company.
    The Manager told me everything is beautiful and accessible. You can start trading with $ 250. It’s not money at all. Visiting their website, was pleasantly surprised by the pleasant and unobtrusive design and read that they can provide a Manager who will help you to trade! This is important. I almost decided to put the money, but accidentally saw this site. And now I wonder if I want to get involved with them. Although the money for me and not big, but still I do not want to give them to anyone is unclear.

    1. Again I cannot verify if you are an actual person or just a throwaway account created to sew doubt into the minds of people researching HQ Brokers.

      It doesn’t matter if $250 is a little or a lot of money. They are claiming to be regulated, when they are not. That is a lie right there. So why would you trust anyone with your money if they lie to you?

      1. hi paul I have all the evidence already about this company for French their call center is in Cameroon.but the head office is in the Philippines .I spent money to pay ANDY CARLOS one of English agent who decided to give me all the information.
        the company name is BSD TRADE SERVICE CORP
        Call center located at clark Freeport zone pampaga Philippines.
        the name of the owner is MIKE
        The name of the General manager is SHLOMI ASVALOM
        The name of the manager of French desk is JULIEN BARBIER/his wife Fanny bensimon
        and here is the office number.+63916188518.
        you can also searh on google BSD TRADE SERVICE CORPS to have more infos.

        1. merci et bravo marc gauvin pour ce travail je me sens comme vous flouer par des bandits je ;leur ai donne 10k USa date j ai recupere 2200us ..i am woking to get back the rest ..avec les noms que nous nous donnez..ce sont des israelliens ..
          …d origine sepharade -Bensimon….je vais voir avec l ambassade d israel …

    2. Hi YuriPol. This is from HQBroker. We would love to tell you more about us. Regarding your concern, you can always visit us at support@[redacted]. Rest assured that all the necessary information you need will be provided accordingly.

      Edit by wealthesteem.org to remove clickable email link. Never email scammers they use it to build their database.

  35. HQ Broker is not based in Hongkong.. as their website showed. HQ Broker had an Outsource account as at 4F Mercedez Benz Building Clark Pampanga Angeles Philippines with a company named BSD trading and services , they are calling and phishing client in Canada, Norway,UK, Sweden, Australia and South Africa and other country except USA . HQ Broker has fake names of Account Managers / Call Center Agents, fake names Senior Finance Manager/ Call Center Team Leaders, Broker are not license, and they are only after the deposit of their client. HQ Broker is former T12. Software they are using is MT4 that mostly use by scam trader actually you can download it free in the internet. I may recommend to all clients in HQ Broker to withdraw their deposit as soon as possible or else your money will be lost forever. They are not actually Buying and Selling Forex and Stocks. HQ Broker is has a fake registration as they are saying that they are Internally Regulated in your country.

    1. I always suspected that the trades never go through to any market. It is too easy to just show all the clients as making profits and get them to put more money in to trim the spread.

      The names they’ve given always sounded fake to me as well.

  36. I do not want to seem rude, but people sometimes do not understand what they do and for what purpose! No one forces anyone to invest money anywhere, we are the owners of our property and decide what to do with it. Therefore, most often we are to blame for any action, no one else. All luck and good earnings!)

  37. Paul, I read your post, thanks. Now I don’t know what I should do with the rest of the money.
    offtop:
    You’re said “Their spread is terrible”. Why? Is a 1.2 pip spread for EUR/USD high?

    Tom, are you sure they paid her? I didn’t even know that they have a referral program…

  38. Let’s be honest with each other. A person is too naive if he thinks that there can be nothing else but positive moments. No, it’s not that simple. Online earnings are always a risky business.

  39. laurel, she said that they’ve already paid her for 2 members. I don’t have any reason not to trust her. I may ask more about it, if you want

  40. I can see HQ Broker listed as a scam on ASIC MoneySmart now too under H! YAY!
    ===================================
    Hokkaido Investments Sp
    also known as Capzone Invest Ltd

    MH 96960 Ajeltake Island
    Majuro Marshall Islands

    P: 852-5808-4980
    compliance @ hqbroker.com
    www hqbroker com
    ===============================

  41. SCAM, Stay away!!!!
    They will not let you withdraw you money. They will start to ask for a 1000 to 1500 volume of trading an so on… until you loose you time and your money.

  42. Nice work once again with the updates Paul.

    The reviews on FX Empire and Finance Magnates are surely bogus. Three things immediately strike me:
    1/. No dates. A genuine firm would surely have more customer reviews by now. By contrast, the websites with customer complaints about HQ Broker have many, many postings.
    2/. No employee names. N/A for the CEO is telling.
    3/. 300 staff but only 5100 contracts per month!!! That would never be even close to a viable business.

    SCAM!

  43. good day to all
    we contact already the Department of justice in the Philippines and to work closer with our team.this the email we asked carlos andy to send.
    GOOD DAY
    ITS with tears that we are coming near you today to dismantle irregular company call BSD TRADE SERVICES CORPS.
    BSD TRADE SERVICE CORPS IS a company located at BERTHAPHIL 3,CLAEK SPECIAL ECONOMIC ZONE 2023 PAMPAGA.The company is claiming to be a call center but is using this offshore name HQBROKER to scam people.
    we are writing today is to make sure the will stop their illegal action in this country.
    with the investigation we made ,we discovered that they are using Filipino and others expatriates to scam people.Our sources shows that most of expatriates are working without having a special working permit nor working visa.we noticed DOLE about this and we were told to notice the DEPARTMENT OF JUSTICE since you are in charge of cyber crimininality.

    We believed that its very had toearn morney.But BSD TRADE SERVICE CORPS hasn’t consider that and they are operating using online trading to scam people.
    We hightly appreciate if an action will be taken place.
    YOU can investigate also about it and we are opened to send you more details.we believe that working hand to hand with you will help to save humanity.
    Hoping to hear from you we hightly appreciate your time.
    sincerly

  44. I previously workeD as an “account manager” for HQ broker. they are based in the philippines inside clarkfield pampanga. BSD trade services is the name of the callcenter for HQ broker and FSM smart.( names of our campaigns ) and both of them are scams. we are given a fake name to give to our clients when cold calling. after the raid on IBD on clark pampanga on june 7 for illegal trading scam as well. BSD group page on facebook was changed to secret. IBD and BSD share the same nature of business so if people which HQ broker scammed went here in the philippines and talked to our police in cybrecrime. HQ broker can be taken down as well.

  45. I am a former HQ broker employee. our callcenter name is BSD trade services and we are located in clarkfield pampanga. we have 2 campaigns we use for scamming. Hq broker and fsm smart. they gave us fake names to give to our clients. clients information is being handled by the back office guys in the second building inside clark as well and the information is being bought. like tejarat leads, max leads. etc. being referred here is a joke rebuttal you didn’t believe. there is a company raised by our cybercrime police located in clark as well because they are also doing illegal trade scams. they are named IBD. basically, the scammed australians went here to the philippines to complain about the illegal callcenter scam and our government took necessary actions to bring it down. after that raid, BSD’s group page was changed to secret so not anyone can see it and today, the employees was told not to go to work because there will be an inspection. if anybody wants to go here in the ph to file complain for HQ broker and BSD. I have some of my colleauges still working for hq broker that can help you. time to stop hq broker’s scams.

    1. Hey my name is Lim from singapore, I am a customer of hqbroker, i need more information about this company asap and i need your help, how can we get in touch?

      1. They are not true. The software that they are using is a Dummy platform . They can control if they want you to win or lose so you will invest more and when you want to withdraw either they will let you lose or they will say that you did not comply with the policy. As of now BSD TRADE SERVICES/ Operator of HQ Broker and FSM smart stopped their operation because they know that they’re next. As soon a they will start operating. We will let you know. So please drop your email that we can reach you. Time to bring back this demons on hell.

      2. hello lim. sorry for the late reply. there have been many incidents happened on HQ broker and their office in the philippines. First, they are shutting down their operations, making all employees not to attend to work. Closing down their facebook pages and their own group chats to lessen the leak of information and for some time now i’m hunted by the “employees of HQ broker and BSD trade services” for posting my comments. Luckily my knowledge of cyber security is a tad better than them. I will try to email you this coming days.

      1. hello korneichuk. sorry for the late reply. there have been many incidents happened on HQ broker and their office in the philippines. First, they are shutting down their operations, making all employees not to attend to work. Closing down their facebook pages and their own group chats to lessen the leak of information and for some time now i’m hunted by the “employees of HQ broker and BSD trade services” for posting my comments. Luckily my knowledge of cyber security is a tad better than them. I will try to email you this coming days.

      1. hello lim. sorry for the late reply. there have been many incidents happened on HQ broker and their office in the philippines. First, they are shutting down their operations, making all employees not to attend to work. Closing down their facebook pages and their own group chats to lessen the leak of information and for some time now i’m hunted by the “employees of HQ broker and BSD trade services” for posting my comments. Luckily my knowledge of cyber security is a tad better than them. I will try to email you this coming days.

  46. No wonder no response from their chat and their phone only rings. I noticed that their website is often down and inaaccessible these past days.

    I am a FIlipino working overseas and has invested quite an amount. I know my account manager was Filipino and told me to trust him since we are both Filipinos. If not for him i would have not joined.

    Kabayan i also need some info, need your help.

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