Overview of HMS MARKETS
HMS Markets, based in Luxembourg since 1972, offers a comprehensive range of trading options including forex, CFDs, metals, energy sources, and more. It caters to diverse trading needs with a variety of account types such as demo, standard, and segregated accounts, and supports these with a maximum leverage of 1:40. The trading experience is facilitated by a user-friendly web-based platform and mobile applications compatible with iOS and Android devices. However, potential clients should note that HMS Markets operates without regulatory oversight, which raises concerns regarding the security and transparency of its operations.
Is HMS MARKETS Legit？
HMS MARKETS is not regulated by any recognized financial regulatory authority. As an unregulated broker, it operates without oversight from regulatory bodies that are responsible for ensuring compliance with industry standards and protecting the interests of traders. This lack of regulation raises concerns about the safety and security of funds, as well as the transparency of the broker's business practices.
Pros and Cons
HMS Markets offers a wide range of trading instruments and platforms that appeal to various traders, providing flexibility with accounts that cater to different experience levels and risk preferences. The availability of a web-based platform and mobile apps ensures that trading can be conducted conveniently from multiple devices. However, the major drawback of HMS Markets is its unregulated status, which introduces significant risks regarding the security of funds and overall transparency of the brokerage's operations.
Trading Instruments
HMS Markets offers a wide range of trading instruments with leverage up to 1:40 across various categories:
1. Forex: A substantial selection of 161 currency pairs, including major pairs like AUD/USD, EUR/USD, GBP/USD, and exotic pairs involving currencies like CZK, MXN, and ZAR.
2. CFDs: Includes access to 3000 assets, encompassing markets like indices, futures, and various products.
3. Metals: Trading in precious metals such as gold and silver.
4. Energy Sources: Involves commodities like oil and gas.
5. Stock Exchange and Related Instruments: Access to major stock exchanges such as NYSE, Eurex, Euronext, FBW, and LSE. Also offers futures, promotions, exchange goods, and funds including ETFs.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
HMS Markets offers three types of trading accounts:
1. Demo Accounts: Time-limited accounts for practice without financial risk.
2. Standard Accounts: Access to all trading instruments with standard conditions.
3. Segregated Accounts: Enhanced security with trader funds kept separate from company assets.
Leverage
HMS Markets offers a leverage of up to 1:40 across various trading instruments including forex, CFDs, metals, and energy sources. This allows traders to increase their trading position size using a relatively small amount of capital.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
HMS Markets utilizes floating spreads, which means the spreads vary in real-time based on market conditions and liquidity. The broker does not specify fixed spreads or commissions, indicating that costs to trade may fluctuate with market dynamics.
Deposit & Withdraw Methods
HMS Markets supports deposits and withdrawals exclusively via wire transfer. The minimum deposit requirement is $1,000, and transactions must be made in Euros (EUR).
Trading Platforms
HMS Markets offers a web-based trading platform accessible through browsers, ensuring compatibility across different devices without the need for software installation. Additionally, they provide mobile trading options with apps available for both iOS and Android devices, catering to traders who prefer managing their investments on-the-go.
Customer Support
HMS Markets provides customer support through a dedicated phone line at (+352) 45 11 11 and via email at info@hms.lu. These channels offer direct access to assistance for account and trading inquiries.
Conclusion
HMS Markets presents a versatile trading environment with an extensive selection of trading instruments and platform options that cater to various investor preferences, supported by diverse account types and accessible technology. However, the lack of regulatory oversight is a critical concern, casting doubt on the brokerage's commitment to customer security and operational transparency. While the technological conveniences and broad market access are significant advantages, potential traders should carefully consider the risks associated with the unregulated nature of HMS Markets before committing funds.
FAQs
Q: What types of financial instruments can I trade with HMS Markets？
A: HMS Markets offers trading in forex, CFDs, metals, energies, and various stock exchange instruments including futures and ETFs.
Q: How can I start trading with HMS Markets？
A: To begin trading with HMS Markets, you need to open an account, which can be a demo, standard, or segregated type, and make a minimum deposit of $1,000.
Q: What platforms does HMS Markets support for trading？
A: The broker provides a web-based trading platform along with mobile applications for both Android and iOS devices, facilitating trading on-the-go.
Q: Are there any regulatory bodies overseeing HMS Markets' operations？
A: No, HMS Markets does not fall under the oversight of any recognized financial regulatory authorities, which is a crucial factor to consider regarding safety and transparency.
Q: What is the maximum leverage offered by HMS Markets？
A: HMS Markets offers leverage up to 1:40 across its various trading instruments.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.
