Holbid Review – How safe is to invest here?
After conducting some research on investing forums and social media platforms, we learned that many people had negative experiences with Holbid and left conflicting opinions about it. You should examine it before making an investment because it appears that Holbid is an unreliable investment company. Read a complete Holbid review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
Address: BRIGHT SPACE LTD. Second floor sound & vision house Francis Rachel Str., Victoria Mahe Seychelles
Warning: Not Recommended By Review Website Like Scam Helpers
Holbid is an unregistered broker whose website is only in Russian. It looks suspiciously like a few other fake websites we’ve looked into. Given that it is not authorized to offer financial services, this business should be avoided. Given that its website is in Russian and that this broker claims to be based there, it is unusual, to say the least.
Furthermore, Holbid doesn’t provide any helpful explanations of how it operates, so you must register before learning what leverage and spread you can employ. Considerably absurd, wouldn’t you say? Continue reading this review to learn more about why we think Holbid is a total scam.
Norms and financial stability
Always keep in mind that Holbid’s website is entirely in Russian and is probably first intended for Russian merchants. This, however, does not account for the fact that, according to what it claims, this broker is situated in Seychelles. We searched the Seychelles Financial Services Authority (FSA) registers but were unable to locate a business called Holbid.
Platforms for trading
Holbid claims that its trading platform is user-friendly and award-winning, however, scammers regularly make similar claims about their systems. Because of this, we were already on high alert and had low expectations for this broker.
Since there was no web terminal and we couldn’t preview it, we had to register for an account to see how the trading program looked.
This broker doesn’t even disclose the sorts of accounts it offers or its trading terms. Scammers typically do this to confuse their victims by making sweeping claims that serve no genuine purpose. But if you think about it, there isn’t any relevant data on important topics like spread, leverage, or minimum deposit requirements. Holbid fits under this category as well.
Only tight spreads starting at 0.0 pips are promised (not to mention that such amounts of spread are highly unrealistic). On their site, we saw spreads for EURUSD that started at 0.4 pip, which is advantageous for trading. However, because brokers like Holbid are so unproven and unregulated, we do not recommend investing with them. Instead, look for reputable brokers with spreads that are affordable and less than 2 pip.
How much money must you deposit to start trading? Holbid remains silent. But after joining and attempting to fund our account, we were presented with several choices, the least expensive of which was 19 000 RUB (around 280 USD at the moment of writing). We thus infer that this is the broker’s required minimum deposit. Given that most reputable businesses often ask for about USD 250, it’s quite an acceptable sum. Nevertheless, it is not worth it to run the risk of being duped.
Deposit and withdrawal procedures and fees
On its website, Holbid promotes that it accepts payments made with Visa and MasterCard. When you look closer, you’ll see that there are just two options available after registering: credit/debit card transactions and cryptocurrency transactions. Coinbase, Kraken, and other cryptocurrency payment platforms fall under the heading of “other” payment methods.
This broker is about to con people out of their money, so you shouldn’t invest here. Additionally, avoid using cryptocurrencies like Bitcoin or Tether because doing so prevents you from getting your money back.
Scammed by Holbid? Scam Helpers can help
Also, if you are a victim of the Holbid scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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