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Is TradeHUB a scam?
Vinyl
Albania
2022-08-19
ANSWER TradeHUB is not a licensed or regulated broker even though it states offers that look good to be true. TradeHUB claims to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) under registration number 25228 BC 2018 and regulated by several regulators including: 1) The UK Financial Conduct Authority (FCA) with reference number: 186171;2) The Cyprus Securities and Exchange Commission (CySEC) under license number: 259/14;3) The Cayman Islands Monetary Authority (CIMA) with number: 1442313;4) The Dubai Financial Services Authority (DFSA) with license number: 000048.First, we did not find any match results that matched this broker in CIMA or DFSA. Second, we found a match result to the registration number in SVG FSA, but the number belongs to a company named "HYCM LIMITED" instead of "TradeHUB Limited". Third, we indeed find match results to the two license numbers in FCA and CySEC, but the domain (https://tradehub.fm/) of TradeHUB is not approved by any of the two regulators. More importantly, the FCA issued a warning that TradeHUB is a clone firm that falsely uses regulatory information of an FCA-regulated firm. You can check the full warning from here.The truth is, TradeHUB is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like TradeHUB and trade with licensed brokers.
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