Beware! Holloway Friendly 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.
Holloway Friendly is a lazy broker that feels like is mostly consisted of filler content, included only so that suers have something to look at. No doubt that this broker targets novice traders and even non-traders alike. Read the review to find out all about this illegitimate broker.
HOLLOWAY FRIENDLY REGULATION AND SAFETY OF FUNDS
It all comes to the point when the worst brokers claim the most ridiculous trading details. In the case of Holloway Friendly they are two.
The first one states that the firm is registered in the UK and is a fully fledged UK based brokerage firm. But nowhere is there to be seen any actual evidence of this. Not only does the broker not provide any actually regulatory details, but the FCA has no results on one Holloway Friendly. So obviously, the FCA’s got nothing on this shady broker, and we never expected that it had.
But then the wsite shifts gear, and we are presented with a claim stating that Holloway Friendly is regulated by the one and only National Futures Association (NFA), one of two United States regulators, the other being the CFTC, equally severe. The United States is by far the hardest FX environment to adapt and thrive in, and only a handful of brokers have survived all of which are huge institutions. So, we can easily dismiss this ludicrous legal claim provided by Holloway Friendly.
This broker is most certainly unregulated and a risk to all. Investing here will lead all to financial loss.
Getting stuck in the scammer cycle is one of the worst things that can happen to any internet user today, and it’s quite difficult to escape it. Unregulated brokers are an order of magnitude more numerous than legit ones, so chances are you have stumbled on at least one. It’s a mess of a scammer industry that wants to steal tour money; all the economy here is sustained through acts of constant theft. So, the best advice we can give our readers and all users is to check for a license when dealing with a broker, any broker, no matter how clean it looks or plays out. As we have see, modern investment scams tend to polish their sites. Might we recommend any one of the European, UK, US, or Australian regulated brokers, all excellent, but with differences that make them unique.
HOLLOWAY FRIENDLY TRADING SOFTWARE
Holloway Friendly talks about some shady trader, with a download link on the website that is too risky to open and download. There is always the looming possibility that this and similar links contain a malware. So we would not risk everything just to access a scammer software. And even if we did open the software, we still would have to open an account which we were not able to accomplish.
What we can recommend is for readers to trade with legitimate MT4 and MT5 brokers.
HOLLOWAY FRIENDLY TRADING CONDITIONS
As we mentioned there was no way to open an account, or at least that opportunity was never provided to us. The broker did not give us the necessary credentials for completing the process. It only gave us 1 credential out of 3, which is unacceptable. In the end, we have to rely on the website for all the trading details which might reveal untrue conditions.
The EUR/USD cost of trade is said to be as low as 0.7 pips, with no commission revealed anywhere. The leverage value has not been revealed, meaning that users should not trust the broker. Look instead for these high leverage brokers if you want the real thing.
The available assets, at least according to the website, are precious metals, stock indexes, energies, forex currency pairs, and probably others unrevealed assets.
HOLLOWAY FRIENDLY DEPOSIT/WITHDRAW METHODS AND FEES
Holloway Friendly is silent on its payment conditions. There are no details. In fact, we have no idea what the minimum deposit requirement might be, the payment methods are a mystery, the withdrawal fees are one big question mark, as all other details, both big and small. Scammers are known to hide these details, but it’s always annoying to stumble upon one that does so, because it basically leaves us rambling.
There is no reason to trust this broker, as it obviously does not trust its users enough to provide crucial details. That’s why we have included a great list of minimum deposit brokers for readers to check out instead of dealing with the scammer Holloway Friendly. As for Holloway Friendly, it is a scam and a risk to all. Do not invest here.
How does the scam work
We understand that everyone wants to get rich fast and without any load, but the real words does not work in such a way. In fact, scammers profit mostly from the fantasies that they sell, but whereas in certain industries for a high price you get a taste or a bite of luxury product or services, in the scammer investment industry the physical gratification is never achieved because the user ultimately loses all the money that he or she invests. So, it’s obvious that fraudulent actors rely greatly on promotional and marketing materials to attract and lure an audience.
But that is just the beginning; what all scammers are after is that first initial deposit, the one that will device for further investments. The first deposit is the hardest to get from any user, and the road to it is paved with lies and charismatic actors that will mislead and deceive you at every turn.
But once the first deposit does happen, and it happens most often than naught, the fraudulent actor will push for a second, or third deposit, by continuing his lies, until that moment comes when the user realizes that he or she has been swindled. But by then, the money will be lost.
What to do when scammed
So, the first thing that you can do is to file for a chargeback, which works only id you previously invested via a credit or debit card. To combat frauds MasterCard and VISA have extended their chargeback periods to 540 days.
If invested by bank transfer, then your safest bet is to contact the bank and try to figure out a plan of action. But the chances aren’t as high. Also, remember to change your bank account password and username.
Crypto-based investments are, unfortunately, lost with no way to get them back. That’s why most scammer mainly utilize cryptocurrency based payment methods.
Last but not least, do not pay for so-called recovery services or agents, which are essentially extensions of pre-existing scammers or standalone fraudulent services.