Beware! Hybrid Reserve is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Hybrid Reserve is a newly-launched offshore broker that offers trading in forex and various CFDs, placing a focus on cryptocurrencies. While its spread might seem low, there are a number of reasons not to sign up with this broker. First of all, it is not regulated. Second, its offer is not that good – the maximum leverage levels provided are up to 1:10, it does not offer a proven platform like MetaTrader4, and its clients are not allowed to withdraw any funds within one month from initial deposit (if at all).
In case you prefer trading with higher leverage levels, check out our list of recommended brokers offering leverage of 1:100 or higher.
Hybrid Reserve Regulation & Safety of Funds
The brand is owned and operated by Singlebell LTD, a company registered in the Marshal Islands, an offshore zone. Offshore destinations are attractive locations to forex and binary options brokers, as registration is easy and low-cost. However, these brokers don’t have to meet any strict requirements and are not monitored by any financial authority. That is why it often the case that offshore brokers deliberately run investment scams. Even if they are not, all investments with unlicensed companies come with significant risk. Such companies can do whatever they like with your account, with your trades and the money you have deposited, or the information they might have from your ID document or credit card, in case you make the mistake to share any such data.
Hybrid Reserve Deposit/Withdrawal Methods and Fees
The brokerage offers a diverse set of payment methods for potential clients. Traders may deposit through PayPal, Western Union, WebMoney, Cash, Skrill, bank wire and credit card.
As regards withdrawals, the broker warns that those by bank wire may take up to 7 days, and each one will be charged with the amount of $25.The minimum amount for a withdrawal is 100 USD, GBP or EUR, depending on the account’s currency. Besides, Hybrid Reserve has set some other requirements for withdrawals, which raise even more red flags:
Clients of this broker must meet a minimum trading amount (turnover) requirement before a requesting a withdrawal. This amount is not specified.
The minimum trading period is one month from date of initial deposit before a withdrawal request can be placed.
In addition, don’t be fooled by any bonuses offered by Hybrid Reserve or other offshore brokers. There is no such thing as free lunch with such companies. In the case of Hybrid Reserve, clients will have to perform a trading volume of at least 300 times for each $1 of the Bonus in order to be able to withdraw.
Another provision of Hybrid Reserve’s Terms and Conditions we find especially alarming is entitled Trading Cancellation. It states that the broker has the right to refuse to distribute profits to its clients and has pointed out several grounds for this without limitation:
How does scam work?
As some of you know, the typical investment scam involves a lot of cold-calling. However, the fraud starts well before that, as the cons must get potential victims’ contact information from somewhere. Scam companies usually acquire this information via some phishing website that contains a professionally edited ad or video. Typically, those ads exploit your natural desire for easy and quick profit you will end up filling out a registration form.
And that’s when the cold-calling starts. At first, fraudsters will try to get you deposit some $250. You should be aware that a cut of $50 of your deposit gets straight to the person on the phone. At first the trades go more than well, and after the initially invested sum is doubled or tripled, you will get a phone call from the next-in-line scammers, who will talk you into depositing a larger sum so that you start making real money. You might be tempted and invest some $10k. Usually that’s the moment when the trades turn red and victims begin to consider closing the account and getting back their money.
Unfortunately, this is not an easy task. You will be passed on to the “recovery department” that will begin stonewalling you for months. Actually, they try delaying your withdrawal, as you have the right to file for a charge back with you credit card provider within a 6-month period.
What to do if scammed?
The first thing to do is of course, file for charge back, as long as the 6-month period has not expired. Also, if you have given away your banking details, including your credit card number or banking pass, or if you have agreed to install Team Viewer, cancel your card and change the password ASAP.
Finally, if you have lost your money to investment scammers, do not trust the so called “Recovery Agencies”. You will just lose more money with an upfront payment without receiving any help for recovery.
rudi zimmerer
On Facebook is an Ad to get a Singapore virtual Id-card when investing in the new Singapore Crypto CNCX… You fill out the form and then the window of Hybrid Reserve opens and to the same time a call from Hybrid Reserve. I opened the account and didn’t know that Hybrid Reserve is a Bank from Estonia and located in London… In the end, you can’t trade the CNCX on their Plattform. And now it is very difficult to get your deposit back and to close this account.
Gary Tan
HybridReserve ran a FAKE website duplicating ABC Shark Tank where two young man showed an automated software for trading.
Clicking on the screen I was taken to a registration page. After registration, I was contacted by an officer. She asked me to sign up and invest USD$250. I was assigned an account manager. He and an Analyst requested I invest USD $10,000 for trading.
Later they made another request for USD $5,000. When I did the transaction, they said it failed. They asked me to try again. I was shocked to see USD $10,000 debitted from my account. They now have USD $20,000 of my money. Frequent emails to my account manager to close my account and return my money were ignored. Now I cannot get my money out.
Can anyone help me?
Russ
Did you get any help Tan? I have lost over $100,000 US and am going to try to get it back.
elizabeth roche
No one can help I dont think I also lost aus $10000 total scammer mongrels
rudi zimmerer
They don’t refund my money instead they pest me with phone calls to sell their B. S. The phone calls are so impolite, that it is hard not to be too unfriendly.
Shaun
Thieves, rogues, con artists. Once they have your money they hound you for more and more. They call repeatedly troubling you all the time for more investments. Interpol should get involved and lock up these motherfuckers for stealing from hard working people. They are nothing more than scam artists. May you bastards Rot in hell
Miguel
I am the same as the colleagues who are writing on this page. In my case after entering the minimum amount, I realized when investigating his whereabouts, that everything is a fraud. I am now hoping to have when I have the urge to refund my money.
I filed a complaint and quickly eliminated my credit card. Now I hope to be able to send this report to my bank so they can manage it with the visa office
I have to wait
We have to be more people willing to denounce these malechores. To know if they can close their profits on account of the others
Rochelle
I havent Deposited any money but cant work out how to deactivate or delete my account, can anyone tell me how to delete account?
Kennedy
I deposited $500 to Hybridreserve, thereafter I tried to withdraw $400 which according to them, was approved on 29/11/2018. However until today I have not received this money. I then withdrew the remaining $97 in December and received this money on 19/01/2019.
They claim to have sent my $400 to my account, although the bank says there was no such transaction. They have swindled me of my hard-earned $400 these scammers. I am consoling myself by repeatedly emailing them and stating that thety must give me back my $400.
Mmathabo
I have deposited and immediately request cancellation or reversal on my money but to date nothing. Where can i report Hybrid Reserve?
Vincent
Yeh my friend went in to this and he reckons they have been paying him out every month.
I have decidedto sign up and then i also got a bit more curious about them because the consltant who called me was very pushy saying he doesnt want to waste time he wants to start working to get me returns and keep me happy and himself because he takes a cut and at the same time i get mine too.
I was just getting a bit confused because it was 1000 to open the account and then later on a demo was given and just some explinations around deposit and withdraw.
A getcrypto wallet was being created and this was another 1000 but on the getcrypto site which makes no sense to me because other sites have free bitcoin addresses.
Fucking strange to me,
Rose
I have open a acount on hybridreserve for me to start with the bitcoin and see how it realy works. but unforntaly a man was calling me he’s name is mike and he will say to you he have a code that you need to know evry time he callss you . oke i went to open a prepaid creditcard that is not link on my bank acount but where i when to bbuy my creditcard they had a system problem so i could not get my card. Sooo the men from hybridreserve callss me and when i was explain it to him ….he hang up on me ! sooo rude ….but that was a sign for me God is good . i did not send my mony on this onproffesional people and scammmm shit . This is a SCAM Becarefullll guys !!!!!!
Aaron Conis
PLEASE — DO NOT GIVE THEM ANY MONEY .. DO NOT TRUST ANYTHING THEY TELL YOU. They will take your money and never return it.
They will acknowledge people write negative reviews and use excuses like
– Other Brokers are out to get them
– It’s their competitors
– Couple reviews are bad, no one writes good ones
and many more
Trust the people writing these reviews .. not the cons in Hybrid Reserve.
My bank blocked my payment to HBR because they were recognized as insecure and their excuse for my bank doing that was because the banks don’t like them because the banks rip you off and Hybrid are the Good Guys.
After you have been conned for the $250 they do not leave you alone until you then hand over the “next level” amount. Once you have done that they introduce the next level con man who will explain the great opportunity available. Like all cons, they then try to make you feel guilty because you are not investing more.
I will be posting far more detail of their scam so “would be” victims can recognize the sales pitch and not hand over any money.
SERIOUSLY – DO NOT HAND ANY MONEY OVER – THESE GUYS ARE GOOD AT CONVINCING THEY ARE LEGIT.
Mark
I have 2687.99 USD in the account and I am trying to get hold of them but no response and there phone number is not working I want to close this account effectively a mediate and the funds to be paid back to me this is really a scam
Martijn
SCAM!!
I lost a huge amount of money, i am afraid to tell how much because i am so ashamed of it.
This company has to be taken down by government because they take advantage of peoples trust.
What they do:
1) they gain trust by hypnotic talk, creating the yes-set used by salesmen also
2) they make you do a small payment so they can show you how they work (creating trust)
3) start asking questions how much you can spent, then calculating how much profit you can make
4) trying to convince you to pay more
5) trying to convince you youre money is save, european laws etcetera. Complete bullsh*t because when you make a banktransfer, you are not backed by any law
6) they keep saying they will deliver
7) keep convincing you to put more money in…
8) making money for you. Don’t know if the orders are real or fake. 9) your account is growing
10) first small payment withing 6 weeks to gain trust
11) when they notice you won’t put more into the account, making one trade… and ALL your money is gone.
12) Then… they’re out… Don’t respond to email, you can’t reach them by phone, what’sapp is blocked
13) Your money is whiped out and they are having a GREAT GREAT holiday.
This is how they work. Be prepared and get out! Or better, don’t get in!
Martijn
I spoke to two guys: Don Stamos and George Rooney. The last one would be the godfather of forex. Well… he’s the Godfather of SCAM! How do these guys sleep at night knowing they ruin peoples lifes.
George Marthinus Vermeulen
I Lost an amount of 3700 USD the brokers name is Andrew Barnes a South African born and now work for Hybridserve, he phoned me several times to invest more money. Since the day i wanted to draw money he blocked my mails and never came back to me.
Lourdes
i WAS SCAMED IN 37500.00 EUROS.
I asked for whitdrawal, and they suspended my account acordingly Mickael Ivanov.
Is anybody who can help to have my money back?
Emmanuel Chapi
This company has issued, i wanted to close my account and ask for refund, instead they cancelled my withdrawal without my consent and all my subsequent emails are been ignored.
Jack Kempsey
I want to close my account Jack Kempsey ID 927533 and withdrawal the balance amount $44757.71 USD. Thank you Jack KEMPSEY