Looking sweet and easy-going, Hextra Prime broker’s website might look like a place for you. However, the first red flag you may notice is a giant sign of leverage up to 1:5000. It’s about 100 times higher than regulated companies could ever provide, so beware.
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Let’s go through our Hextra Prime review and check all the details about this offshore broker’s offer.
| Broker status: | Offshore Broker |
| Regulated by: | No regulation |
| Scammers Websites: | https://hextraprime.com/ |
| Owned by: | Hextra Prime Ltd |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2020 |
| Supported Platforms: | MT4 |
| Minimum Deposit: | $10 |
| Cryptocurrencies: | Yes – BTC, ETH, XRP – total 14 |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | /1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
| Site grid: | https://hextraprimeasia.com/ |
Hextra Prime Regulations and Security
Hextra Prime is an online trading brokerage owned by the same-named company from Saint Vincent and the Grenadines. As usual, the problem with brokers from this offshore country is the absence of a real regulatory body. The FSA itself stated they are more like a register of financial companies, while regulations they should seek in the country of service. Once we checked Tier1 regulators such as FCA and ASIC, we found nothing regarding Hextra Prime regulations.
Another red flag for this brokerage.
Fund Withdrawal Issues
Being involved with an unregulated offshore broker is a direction for issues. Once you start, of course, you’re expected to make an initial deposit. In the case of Hextra Prime it is $10. Since we all know such a low amount on the too high leverage won’t last even a second on the market, this broker is instantly asking to add more funds for “account safety.” Once you do so, you might even see some profits at the beginning. Yet, withdrawals with offshore brokers are difficult and often impossible.
Beware of the Hextra Prime scam and other brokers such as Sagellc, Quotex and Assetshaus.
Traders Opinion
Hextra Prime reviews showed us what traders think of the broker. According to them, Hextra Prime does not allow withdrawals, and clients are being misled regarding trading with automated software. Also, the company offers a Copy Trading system, but clients say they never had a chance to see the winning trade once they copied it to their own account. It sounds like the system does not function perfectly.
How Does Online Trading Scam Work?
Online trading scams are tools for offshore and unregulated brokers to extort money from as many clients as possible. They do not choose means for conducting such scams. What we’ve noticed so far, all of these scams start with an ad requiring clients to enter personal details to get more information. Afterwards, broker employees are assisting with an initial deposit, usually by taking your credit card details. Once you provide these details, you might find yourself with no money in the bank. Sometimes, the broker will deduct the agreed amount and then ask for more and more but never approve withdrawal requests.
Since there is no regulator above these companies, we are not surprised to see how they behave.
Scammed by Hextra Prime?
If you were scammed by Hextra Prime or any other illicit operation, do not hesitate to report it. The broker will not return your funds willingly, but you can always request a chargeback.
But what is a chargeback?
It’s a way to refund your card in case you were scammed online. Contact our support department immediately via online chat, and let’s get your money back!
What is Hextra Prime?
Hextra Prime is an online trading brokerage based offshore, without a regulation.
Is Hextra Prime a scam?
Hextra Prime has no regulation for providing financial services, making it illegal.
Is Hextra Prime regulated?
Hextra Prime is not regulated nor licensed online trading brokerage.
