Scam Alerts: UK FCA Warns Two Clones - HNM and TradeHUB

When investing in the financial market, profits always come with risks. Though we can not avoid every trouble, at least we can avoid giving our money to the fraudsters like HNM and TradeHUB. Having no licenses from a forex regulator, these two unregulated brokers decided to steal some from a legal broker.

Twin Websites

HNM and TradeHUB share the same design and introductions on the websites, while the logos are different, just like twins. Therefore, the two brokers may be operated by one illegal company.

Suspicious Trading Years

The company claims to be an experienced broker with more than 40 years of experience. But we checked the creation date of a domain (https://heynepmarkets.com/) and found the domain had been created on 22 Nov 2022. Why would a 40-year-experienced broker has such a newborn website? It is a red flag.

Clones of a Regulated Broker

The regulations claimed by HNM and TradeHUB are the same! The regulatory information relates to four forex regulators and a registration agency as pictures present.

We checked the Cayman CIMA register and found nothing about HNM or TradeHUB. In other words, the firm is not regulated by CIMA.

We also searched UK FCA, CySEC, Dubai DFSA, and SVG FSA, and found an interesting fact: all the regulatory or registration numbers presented on scammer's websites belong to a company named HYCM. That means the scammer misused the regulatory information of this licensed company.

This bold action also caught the attention of the UK FCA. The UK regulator warned all the forex investors that both HNM and TradeHUB are clones of a UK-authorized company.

It is necessary to check the broker's license, and it is also important to confirm the details of the broker. If you are not sure about a broker's regulations, please don't hesitate to ask a question in BrokersView Q&A.