Hermes Market review 2023: 5 things you should know about hermespty.net

Beware! Hermes Market is an offshore broker! Your investment may be at risk.

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

Even though Hermes Market claims to be a “reliable broker with a strong reputation”, there is not even one evidence that can prove that. Just the opposite – its website is full of unnecessary information but lacks any data related to this broker’s identity. For example we don’t have the slightest idea where its registered address is or who runs this page either. For this reason we are pretty sure that Hermes Market is not only absolutely anonymous, but that it’s unregulated as well.

And good luck if you hope to find out anything in particular about this firm’s trading conditions or payment methods – Hermes Market doesn’t say even a word about that. And to top it off, bear in mind that you can actually download just a demo version of MetaTrader 4, that is not provided by the broker itself. For more details keep reading the full review.

Hermes Market Regulation and safety of funds

As we mentioned above, Hermes Market happens to be virtually anonymous and probably the worst type of scam possible. There is no contact information, except a customer support email and a phone number based in the UK. Apart from that we don’t know anything in particular about this firm – there is no registered address, nor company name or corporate background. But maybe the worst part is the absence of any legal documentation like Terms and Conditions or Privacy policy for example. Hermes Market also doesn’t mention anything about the jurisdiction that is supposed to oversee its activities. There are so many alarming signs that there is no doubt that this broker is an outright scam. Stay away from such impostor websites or you risk being left without two nickels to rub together!

Hermes Market Trading software

Hermes Market claims to offer several trading platforms including the well-established MetaTrader 4. On the website there are several links for its download on desktop or mobile. And here things get even worse, if that’s even possible.

After we downloaded MT4 we realized that this is just a demo version of the software that is not provided by Hermes Market or any other broker in particular. In fact, it is offered by MetaTrader itself and can easily be accessed through its website. Take a look:

Moreover, we couldn’t register either. The live account required an ID image to be uploaded but we didn’t want to provide our personal details, which is understandable.

The demo account on the other hand required just basic data, however we had to send a request first and are still waiting for the response. For this reason, at the moment of writing we can’t open an account with this broker.

Hermes Market Trading instruments

On its website Hermes Market claims to offer only three trading instruments – stocks, shares and cryptocurrencies. Nothing more is mentioned however. This is quite a narrow range of assets and trading here starts to seem more and more ridiculous. You just have no reason to choose this broker given the fact that it’s totally unlawful and doesn’t offer anything special.

There are plenty of legitimate firms that offer a variety of trading instruments to choose from like Gold, metals, CFDs, forex pairs and many more.

Hermes Market Spreads and cost of trading

As we mentioned already, we couldn’t register and the platform we downloaded had nothing to do with this broker. For this reason we couldn’t see what spreads Hermes Market really provides (if it provides any at all).

On its website however there is some information that might be helpful. Take a look:

As you can see, Hermes Market promises spreads from 1 pip for EURUSD, 2 pips for GBPUSD and again 2 pips for USDJPY. These amounts are not favorable at all to be honest. Spreads more than 2 pips are known to be very costly, not to mention that most reputable brokers tend to offer volumes around or less than 1 pip.

Apart from that, at the bottom of the homepage you can spot some additional information regarding this broker’s ECN accounts – the spreads are said to be from 0.0 pips with a commission charge of 4 USD per 100k traded. Take a look:

Nonetheless, we don’t recommend opening an account here or providing this shady firm with your personal details.

Hermes Market Maximum leverage

This broker claims to offer three account types – Islamic, Rebate and Scalper. There is no useful information about them though.

Furthermore, Hermes Market doesn’t mention anything about the leverage it offers, so we are absolutely clueless what to expect from it. But given the fact that the platform downloaded is not provided by it, it’s quite possible that this firm doesn’t offer trading software at all, so don’t bother opening an account here.

Hermes Market Deposit and withdrawal methods

Once again, Hermes Market stays silent and doesn’t say anything in particular about its payment methods. The only thing mentioned is that the firm can “provide you the chance to fund and to withdrawal from your account for 24 hours – 6 days in a week” and that’s it. This is yet another huge red flag which indicates that there’s something fishy here. It’s very possible that this firm offers cryptocurrencies which however are not only completely irreversible but also anonymous as the broker itself.

On the other hand, with reputable brokers you can usually make deposits with popular and secure payment methods like Visa, Mastercard, bank transfer or well-known e-wallets like Skrill, Neteller or PayPal.

Hermes Market Minimum deposit

The minimum deposit is also not specified. Just as you know most genuine brokers tend to ask for around 250 USD or even less – micro accounts require around 10 USD.

XYZ Withdrawal requirements

As we stated already, this website lacks any legitimate documents like for example Terms and Conditions or Privacy Policy. The broker also doesn’t mention anything about its withdrawal requirements and all of these facts are quite worrisome. At this point we have no doubt that we are dealing with a fraudulent scheme run by scammers with the sole purpose to rob unwitting clients.

It’s also very probable that this broker would require a high fee upon every withdrawal request – maybe 15 or even 20%. How do we know? Well, it’s just the way scammers act, unfortunately we have seen it a hundred times so far.

On the other hand, reputable brokers don’t usually ask for any fee upon withdrawal.

We sincerely advise you to stay away from Hermes Market for your own safety!