Scammed? Get a Free Consultation!
Introduction to HengryFX Review:
The first step of most of the scams around the world is a call. Cold calls by the scammer to potential victims have the power to lure the innocent victim into a trap that will cost all of their money. This random call might come to you out of the blue with an offer you might not be able to resist. The scammer will use words such as ‘guaranteed returns’, ‘offers only for you, ‘100% profits’ etc. No matter how tempting the offer might sound, you must know that unregulated brokerage firms do not offer any kind of safety to your money. If you are here with the intention of knowing whether HengryFX is a scam broker or a legitimate one, read the full HengryFX review to know more about the red flags.
Minimum Initial Deposit: Not Disclosed
Demo Account: Not Disclosed
In this section, we will be discussing all the red flags raised against HengryFX in the HengryFX review.
HENGRYFX IS UNREGULATED
The first and foremost problematic aspect of HengryFX is that the brokerage firm lies about its regulation. Although on their website, the company states that they are regulated, an investigation outside the website revealed that the company is UNREGULATED and even the address that they have given on the website is a lie. A company that lies about their address is truly suspicious and this raises a red flag against HengryFX in this HengryFX scam review.
HIGH LEVERAGE OFFERED
Leverage is another parameter that is used to check whether a company is a scam or not. The regulated brokerage firms will only offer leverage below 1:50 as anything is risky to the customers as well. However, this is not the same with scam brokers. With their main motive to make their customers lose money, the scam brokers often offer high leverages as a way to lure in customers. In our case, HengryFX offers leverage of 1:1000 which is as much as 20 times higher than the leverage limit of the regulated brokers. This gives us another red flag against HengryFX in this HengryFX review.
CRUCIAL INFORMATION NOT DISCLOSED
Another major thing of suspicion that we found in the case of HengryFX is that the company purposefully has hidden a lot of information from the public that is very important such as the minimum initial deposits, whether they provide a demo account etc. Hiding information like this is highly unethical and thereby raises yet another red flag against HengryFX.
Conclusion: Is HengryFX really a scam or legitimate?
To sum up, all that has been stated above, we leave it upon you to decide whether HengryFX is a scam or not. However, we must warn you to stay away from HengryFX as it is a potential scam and an unregulated brokerage firm. If you have been scammed, file a complaint and let us help you.
Read Latest News on Quora.
Also, read about Blockchain-Globaltrading.com here.