Huge 3650 – Can You Trust Them?

Website URL: https://huge3650.com

Founded: 2022

Regulations: None

Languages: English, Chinese, Japanese

Deposit Methods: Cryptocurrencies, UnionPay

Minimum Deposit: None Specified

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Foreign Exchange, Gold, Silver, Crude Oil, Cryptocurrencies, Spot Contracts, Stock Contracts

Trading Accounts and Conditions

There are no clear trading accounts mentioned anywhere on Huge 3650’s website, therefore, we cannot provide you with this information. The broker also does not give any information about its trading conditions – with the exception of stating that it offers very competitive spreads.

Luckily, we were able to access their MetaTrader 5 trading platform and get some information on the broker’s trading conditions for ourselves. It turns out that the spreads on the MT5 platform start at 20 pips, which is obscenely high. No proper broker would actually offer such ridiculously high spreads. Furthermore, the leverage this broker offers stands at a maximum of 1:500, which is also dangerously high. There also doesn’t seem to be any minimum deposit amount in place, which could have been an advantage if all the other trading conditions were not an issue.

Huge 3650 – Advantages

We could not find anything positive to write about in our review of this broker. Huge 3650 seems to be yet another scammer and it would be best not to do business with them.

Having said that, we do need to give credit to this broker for offering a genuine MetaTrader 5 trading software to their clients.

The MT5 platform is among the best in the world, offering automatic trading features, an easy-to-use interface, a wide range of trading and market analysis tools, calendars and so on. However, we need to emphasize that while we approve of the MT5 platform, we cannot endorse Huge 3650 as a broker because of the range of issues we have uncovered and which we will discuss in detail in the next section of this review.

Huge 3650 – Disadvantages

Here are all the disadvantages we found with Huge 3650:

• Unregulated Broker

The first sign of legitimacy or a scam is a broker’s regulation status. A legitimate broker will ensure that all details of their legal status are easily available for their clients to see. Their company name, address, contact details, etc., will all be updated. Their registration and licensing information will also be right on their home page and anyone can check for themselves to see if the broker is actually regulated or not.

With a scam broker, all these pieces of information will either be missing, incomplete or lies.

Huge 3650 claims that its parent company, Huge Profit Global Limited, is based in London, UK. However, there is no address provided and when we checked the FCA’s (Financial Conduct Authority) online registry, we found no company or brokerage by these names listed there. Which means that this broker is not operating out of London at all, and is actually totally anonymous – and illegal.

Furthermore, there is yet another company name mentioned on their website – Runli. This is a clear indication of a scam since such racketeers use the same information for new scams and are careless enough to leave traces of their previous scams while creating new websites.

Plus500

$100

Minimum Deposit

Start Trading

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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.

 

AvaTrade

$100

Minimum Deposit

Start Trading

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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.

• No Legal Documents

Another sign of this broker’s ill intentions is the lack of legal documents. Legal documents (aka – Client Agreement, or, User Agreement, or Terms and Conditions, etc.) are a necessity since they detail the services and terms of service that the broker offers and what rights the clients have. Without these documents in place, a trader can be taken advantage of and there is nothing that the authorities will be able to do to help you.

This is the reason why it is so important to read through the legal documents presented by a broker to ensure that you will not be taken advantage of.

• Unfair Trading Conditions

While the broker did not bother to present the real trading conditions or even trading accounts on its website, we were able to access Huge 3650’s MT5 software to see what the conditions were for ourselves.

The spreads are at 20 pips. When the industry average ranges from 0.5 pips to 1.5 pips, you will see that a 20-pip spread is just ridiculous and completely geared to make only the broker profits. The trader on the other hand, will pay enormously high fees for their transactions and will not even get any kind of a profit at the end of the day.

The leverage is at 1:500. This kind of leverage is so dangerous that most jurisdictions (especially the UK, where this broker claims it is headquartered) have banned the use of such high leverages. In fact, the UK, Australia and the EU have set a limit of 1:30 on leverages in their jurisdictions. In the US and Canada, that limit stands at 1:50, and in Japan it is 1:20. So, this leverage offered by Huge 3650 is not just dangerous, it is also illegal.

• Limited Payment Options

Huge 2650 offers its clients only two methods of making payments – cryptocurrencies (USTD, ETH, BTC) and UnionPay (where you can only pay in Chinese Yuans).

This is another indication of a scam since cryptocurrencies are notorious for their anonymity and for the permanence of their transactions (so, once you have made a payment, you can never get your money back).

Legitimate brokers will offer multiple payment methods – bank transfers, wire transfers, credit card, debit card, PayPal, Neteller, Skrill, and so on.

Conclusion

Huge 3650 is not a broker to be trusted. It is unregulated, has not clear trading conditions in place, has very suspicious payment options, has no legal documents in place, has extremely high leverage and spreads, and its website looks rather shabby in its overall design. This is a broker that clearly spells out a scam, and it would be best to avoid having any kind of interaction with them.

Huge 3650

2.4

User Experience

2.4/10

Payment Options

2.0/10

Security

3.0/10

Support

2.5/10

Reputation

2.2/10

Pros

• None

Cons

• Unregulated Broker
• No Legal Documents
• Unfair Trading Conditions
• Limited Payment Options