Broker Review — Is Hantec Markets Legit?

This review highlights opinions and experiences of traders who signed up on the Hantec Markets’ website. The broker’s website can be found at hmarkets.com, and the company that is running the brokerage is called Hantec Markets Holdings Limited.

If you had a bad experience with this broker and would like to try your hands on trading again, I urge you to find out how you can recover your money or get the best broker that will not ruin your ambitions. 

That said, the issue is that Hmarkets.com is a controversial Forex broker, despite running their business using a license from the FCA of the United Kingdom and the Jordan Securities Commission. This is why most traders are now curious, wanting to know whether Hantec Markets is legit or scam.

Hantec Markets Review (hmarkets.com): Are they legit?

Their website depicts a very serious broker that is ready to welcome both novice and experienced customers. They have trading education for all levels of traders as well as “30 years of experience”. The broker is also claiming to have won multiple awards where they were allegedly recognized for being the most transparent and trusted in Africa. 

I don’t want to take their word for it because brokers are nowadays manipulating those awards by actually paying the people who issue those awards to be a bit lenient. Other malicious brokers claim that they’ve won awards but in the real sense no awards were issued to them.

I am beginning to doubt Hantec Markets’ claims since there are many pending customer complaints that the broker has never addressed until today. How could they possibly win the award of the most transparent Forex and CFDs broker when majority of their customers are cursing them for offering high slippage and even shutting down some clients’ accounts with no explanation?

In my opinion, this is not a legit Forex broker. They are far from achieving authenticity in their business.

What is the Minimum deposit for Hantec Markets?

There is no minimum deposit to open a live account with this broker. However, I believe that any serious trader will require at least $300 to trade and make some profits.

If you are a professional trader or are interested in serious trading, then a minimum deposit of $1,000 would suffice as long as you are using a legitimate trading and investment resource. 

Account Types

When I browsed their website, I did not find any information about the various account types that this broker is offering. It appears that they just have a standard Forex and CFDs account that everyone can use regardless of their deposit amount. However, there is a demo account type as expected with every other Forex broker out there.

Is Hantec Markets Regulated?

They are regulated by both FCA and Jordan Securities Commission. However, I see that this does not stop them from mishandling their clients. In my opinion, the issue of regulation is just to help them gain some credibility and does not mean you will be treated well if you sign up.

At this point in time, one would wonder what is the difference between Hantec Markets and brokers like TMGM, Markets24.ch, Simplified Assets and many others. All of these brokers employ underhand tactics in one way or the other.

Is Hantec Markets ECN or Market Maker?

You can be sure that this broker is a market maker and not a true ECN broker. This is because if a broker is a true ECN platform, at no point will conflict of interest arise between traders and the company.

Currently, some traders say slippage is high and others have accused them of manipulating trades by not letting customers close profitable trades. All of these are signs that Hmarkets is a market maker rather than a true ECN.

A market maker makes all their revenue from trades that you lost. So ideally they only make a profit when you lose and lose when you gain. If they let you make a profit each time you trade, then you can be sure that the broker will go broke and close shop.

The Conclusion

We can’t recommend Hantec Markets no matter what they say on their website because there are enough red flags. These red flags warrant investigations and some other traders have also warned that this is a broker we should stay away from.

If you want to grow your deposit, there are better brokers out there who will not waste your time and money. In case you have alread lost your money, you can get that money back by filling out the form I gave you earlier.