HENEX Global Review – 5 things you should know about henexglobalfx.com

HENEX Global Review – 5 things you should know about henexglobalfx.com

Rating: 1

Beware! HENEX Global is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Forex.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

HENEX Global is an extremely unreliable broker that has provided absolutely no information about its location, or any sort of contact details. Moreover, the broker seems to be completely fine with twisting and turning things so that you believe that they are regulated and reliable – which is as far from the truth as possible. A reputable financial regulator has warned customers to be weary of HENEX Global – since they are most probably running a scam. Follow that advise and stay away from the broker if you don’t want to lose your investments.

HENEX Global REGULATION AND SAFETY OF FUNDS

HENEX Global claims to be a broker based in Hong Kong that has been around since 2000. However, when it comes to their license claims, the story is completely different – the broker states that they are “regulated by several entities including the National Futures Association (NFA) and the Financial Crimes Enforcement Bureau (MSB), an agency of the U.S. Department of the Treasury” as well as by another US authority – FinCEN (Financial Crimes Enforcement Network). However, FinCEN and MSB are not the US regulatory bodies when it comes to trading and forex brokers – the authorities responsible for licensing forex brokers are the CFTC and the NFA. The US is so strict in its regulations that no broker who is not regulated by those two authorities can offer services to US clients – even legitimate overseas broker. This means that there are currently very few brokers who still operate in the country – and HENEX Global is not one of them.

Moreover, this broker even has a warning issued on its name by a reputable authority – the UK’s FCA.

Such a warning is a sign that you should be extra careful – since the FCA believes this broker to be a scam offering services to UK customers illegally.

A much better and safer choice would be to turn to a licensed UK, EU or Australian broker – such broker have to maintain a high standard and conduct business in a fair and transparent manner. If they don’t, they risk getting a fine or losing a license that is not that easy to obtain. UK and EU companies have to maintain a capital of €730 000 to prove that they are financially stable. The number is A$1 million in Australia. Client money are always kept in segregated accounts – brokers have limited access to your deposits and could not reinvest them even if they wanted to. UK and EU brokers also provide funds for compensation schemes – which means that in case your broker goes bankrupt, you could receive a compensation of up to £85 000 in the UK, and €20 000 in the EU. Such funds don’t yet exist in Australia which is probably the biggest difference between jurisdictions. Additional rules such as leverage restrictions and the bonus ban protect investors from bigger losses they can handle, and from insolent scam attempts.

For all of these reason, it would be much better to choose a regulated, trustworthy broker – dealing with scammers who will rob you as soon as you deposit is simply not worth it.

HENEX Global TRADING SOFTWARE

HENEX Global claims that it offers leading trading platform MetaTrader 5 and did in fact provide a download link for the software. However, the platform that can be downloaded from the broker’s website was just the generic version of MT5 that can be downloaded for free from the MetaQuotes website, and not HENEX Global’s own terminal.

This means that the broker does not have their own platform you could trade on – which makes it pointless for you to open an account with them as a whole. MT5 is indeed great – it is actually the leading trading platform when it comes to number of people that use it. It is easy to see why – MT5 offers both intuitive and user-friendly interface while also being full of great features such as Expert Advisors, VPSs, possibilities for developing your own trading bots and indicators with the MQL5 coding language, signals you could set for prices going up or down, and even a built-in economic calendar. See what the platform has to offer – with a legitimate, licensed broker.

HENEX Global TRADING CONDITIONS

HENEX Global mentioned that it offers access to a variety of markets – stocks, metals, oils, CFDs, cryptocurrencies. This is pretty much all we could learn about the broker’s trading conditions. They have not mentioned anything about account types, spreads, leverage, and minimum deposit amounts on the website – and we have huge doubts that the broker offers access to leveraged trading as a whole because they do not have their own trading terminal.

An additional problem we ran into when we opened an account with HENEX Global was that they did not even provide access to their own client area – when we registered an account, we logged in to the client area of an offshore broker called MEX Atlantic.

This means that HENEX Global itself is probably just an offspring of another unreliable company – and as such could not say anything about its own trading conditions.

As you can see, opening an account with HENEX Global is completely pointless especially when trading with a legitimate, big brokerage is more affordable than ever – most brokers these days would be willing to set up a standard trading account for less than $100. This is why trusting scammers with your money is a complete waste of time.

HENEX Global DEPOSIT/WITHDRAWAL METHODS AND FEES

The broker would not let us try and make a deposit before our account had been verified – this is why we could not establish what sort of payment methods HENEX Global accepts. However, our advise would be to refrain from depositing with this company as a whole – they are anything but reliable.

HOW DOES THE SCAM WORK?

If you have enough information about the way such scams work, you will know how to protect yourself against them so read the following text carefully.

It all starts with you seeing a flashy ad on the Internet promising you immense riches  – you take one look at a broker’s website and decide that it looks decent enough and that all the promises and claims must be true. Such scammers often manage to convince you that they are legitimate in ingenious ways – they lie about being regulated, provide fake legal documents, draw your attention with amazing offers. So you decide to try your luck and open an account – providing the scammers with your phone number and email in the process.

After that you would not be left alone before you make a deposit – you receive dozens of calls and emails from smooth-talking scammers whose very job is to pray on unsuspecting people who are trying to turn a quick profit. And once you have deposited, they will keep asking you for more and more money – which you would gladly invest because at that point, you might even be turning a decent profit. However, all of this is lies and manipulations – and you will clearly see that once you try to withdraw your profits. Different reasons why that is impossible will appear – additional taxes, minimum withdrawal limits, previously unmentioned clauses in the Terms and Conditions.

At some point, you will start figuring out that something is wrong – and that is when the scammers will disappear with your money in their pocket.

WHAT TO DO WHEN SCAMMED?

Accept the fact that such stories rarely end happily with the victim retrieving their money. What you can mostly do is avoid additional problems by changing all banking details you have provided the scammers with, and removing all software they have asked you install. Don’t trust any recovery agents promising to retrieve your money for a fee – this is just another type of scam, often conducted by the same people who initially robbed you.

However, if you have used Visa or MasterCard to deposit , there is a decent chance of getting a chargeback – both card providers allow chargebacks within 540 days of transaction. Reversing wire transfers and payments made via an e-wallet is harder but not impossible – contact your bank or payment solution provider to ask for assistance.

Finally, make sure to notify authorities and share your story with as many people as possible – this way, others will know how to avoid horrid scam like the one you fell victim to.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *