The case of Hanson Markets (HansonMarkets.com) Forex Broker is the case of an unlicensed broker; brokers like these tend to over-promise on things they can’t actually provide. These promises are always evident in the structure of their account types, leverage, withdrawal/deposit methods and most importantly, their licensing. This HansonMarkets Review tries to shed more light on these promises; read it to see what we think about Hanson Markets.
Table of Contents
Hanson Markets Trading Platform
We start by looking at the trading platform that Hanson Markets forex offers. The best case we can hope for in this section is that Hanson Markets uses the Meta trader 4 and 5 when it comes to its trading platform. With this in mind we would like to state that the legitimacy of Hanson Markets forex broker isn’t solely based on the type of trading platform it supports, but goes a long way in showing us the character of the broker.
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Hanson Markets forex broker uses a platform called Xone Trader to offer its clients access to the market. Hanson Markets forex broker offers a maxed leverage of 1:100
A High leverage can be a double-edged sword in the sense that a trader on a good trade can make a huge profit but also an enormous loss if the reverse becomes the case. Various regulatory bodies have put a cap on leverages for brokers; a limit that most unregulated brokers disregard. We do advise restraint if you ever come upon a broker with a leverage exceeding 1:30, especially if you are new to the market.
Hanson Markets Account Types
In this portion of the review, we aim to explore the account types a broker might possess. Here, we check the account with its corresponding deposit and leverage. Doing this gives a clearer idea of how a broker might operate.
After checking, we discovered that Hanson Markets broker has no information on account types.
Different brokers have different account types; most legitimate brokers start their entry accounts at $250, which is the acceptable minimum deposit the industry normalized. We reiterate that this is still not a yardstick to measure the legitimacy or competency of a broker.
Hanson Markets Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
Hanson Markets forex brokers has wire transfer and bitcoin.
One thing to keep in mind is that a broker might have withdrawal conditions concerning accounts; most fraudulent brokers stipulate a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Hanson Markets Licensed?
Licensing is another important part of our review because we can trust a regulated broker to some extent not to do anything fraudulent. We complete this part of the review by first checking the name of the company attached to the broker and then run that name through various regulatory bodies to discover if it regulates said brokerage.
In checking the license status of this broker, we had to check the regulatory body Hanson Markets broker is meant to be under. To know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy. This list of regulatory bodies is not exhaustive by any means.
To see more of our reviews, take a look at dotfx review, marketscg review, hitoptions review.
This broker is not a licensed broker.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In conclusion, we wouldn’t recommend you to trade with Hanson Markets, they do not impress us with the vague information they have provided. They don’t give any valid information concerning if they are a regulated broker, and we could not find any evidence supporting its stance on legitimacy.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.
