Hamen Prime – Are They A Real Broker?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Hamen Prime - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://hamenprime.com
Founded: 2015
Regulations: N/A
Languages: English, French, German, Japanese, Spanish, Chinese
Deposit Methods: N/A
Minimum Deposit: N/A
Free Demo Account: N/A
Number of Assets: 6
Types of Assets: Forex, Indices, Metals, Commodities, Stocks, Cryptocurrencies
Hamen Prime has grown into a market-leading global multi-asset online trading service provider since its inception in 2015. They offer over 200 trading products to global traders, including foreign exchange, precious metals, commodities, indices, stocks, and cryptocurrencies.
This is yet another fraud to avoid, but if you’re still unsure, read the entire Hamen Prime review.
Trading Accounts and Conditions
There is no information about account types and minimum required deposits to make an account. Things like these are very shady, brokers who don’t tell users anything about account types can’t be trusted at all.
Hamen Prime – Advantages
Brokers that don’t show even the slightest information like minimum deposits definitely can’t be trusted. Stay away from Hamen Prime and any other company related or connected to them.
Even new traders shouldn’t be tricked by this broker since even the most basic information is unavailable for users.
Hamen Prime – Disadvantages
Unlicensed
They work without a permit from who knows where. Their website is completely empty of any contact information. The broker claims to be owned and operated by Hamen Prime Limited, a firm about which we know nothing, including its location. Of course, a professional broker would never leave you guessing as to where they are based – this information is vital because most nations need financial services companies like Hamen Prime to be licensed.
To put it another way, the broker’s services and website are almost anonymous, and the people who run the brand are not obligated by any laws or regulated by any government body. This is a concern since the interests of such a broker’s clients (or victims) are not protected, and their monies are not secure. There are no compelling reasons to use a broker such as Hamen Prime. Stick with well-regulated brokers, such as those licensed in the UK or the EU, if you want to be sure your assets are safe. Europe guarantees high-grade security, and you can trust the forex providers that are legally operating there.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Trading Software
Hamen Prime is rumored to be using MetaTrader 5, a well-known trading platform. We were unable to gain access to their MT5 terminal, however, because we were unable to register an account without supplying an ID number and a photo of our documents – information that we are hesitant to share with scammers. Opening a demo account was obviously not an option.
MetaTrader 5 is a must-try for everyone new to trading. For the past 15 years, the MT software has been a standard in the business since it is simply the finest in terms of functionality. It gives you access to a marketplace where you can download a number of add-on trading programs and create your own trading bots, indicators, and scripts.
Trading Conditions
Hamen Prime did not provide any information about their minimum deposit – again, a legitimate broker would not provide only partial information. They would, on the other hand, most likely offer you substantial Terms and Conditions, whereas Hamen Prime just featured a few short paragraphs of Terms and Conditions, largely consisting of term definitions.
Instead of dealing with such scam schemes, you can easily register an account with a legal broker for a small amount of money. The spreads on a basic account were claimed to be around 1.4 pips, which isn’t bad, but we wouldn’t believe Hamen Prime’s information without double-checking it.
The broker’s leverage was 1:500, although the maximum leverage allowed by law in Australia, where Hamen Prime claims to have a license, is just 1:30. In general, we would advise you to avoid organizations that provide such significant leverage to retail clients. Although it may be tempting to improve your trading potential by 500 times, using excessive leverage is a risky proposition. When trading with such leverage, many rookie traders have lost a lot of money quickly.
The broker’s reported slippage levels were one thing we found intriguing and tough to trust. We doubt that a broker could have a year of negative slippage of only 0.38 percent, hence we believe Hamen Prime is just bragging and trying to appear more appealing to potential customers.
Deposit, Withdrawal, And Fees
On the Hamen Prime website, no deposit or withdrawal options were stated, and the Terms and Conditions were fairly brief, so we couldn’t locate any information about additional costs. If you want to see your money again, don’t deposit it with this broker.
Conclusion
You won’t be able to make any money with an unregulated broker like Hamen Prime, which screams scam. Choose a reputable and trustworthy broker. When it comes to withdrawals, most unregulated brokers go to great lengths to persuade traders to register an account and invest with them, but when it comes to deposits, they will come up with all kinds of justifications to postpone or cancel each and every withdrawal request.
Hamen Prime is the worst kind of con artist: they exploit the name and license number of another company to entice naïve customers while staying fully nameless and uncontrolled. Those con artists have nothing to offer you, and if you choose to register an account with them, you will not be making any money. The most likely scenario is that you will be robbed before you realize what has happened. Do not believe Hamen Prime; they are the furthest thing from legitimate.
Hamen Prime advertises itself as a market-leading global multi-asset online trading service provider, but it fails to mention where it is based. There are a slew of other problems with this dodgy brokerage, including a bad website, unrealistic spreads, and a lack of payment information, to name a few.
Hamen Prime
Pros
- None
Cons
- Unlicensed
- Trading Software
- Trading Conditions
- Deposit, Withdrawal, And Fees
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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