Read this review to understand why Hitradex is a scam company that you have to stay away from.
What is Hitradex
Hitradex is a broker that allows its clients to trade various financial markets, such as Forex, stock indices, commodities and cryptocurrencies.
The broker offers several types of trading accounts, but discloses the minimum deposit only for one of them: 0.1 BTC.
This supposedly awarded broker has allegedly been operating since 2009. However, its location, contact and regulatory information are not published on its website. Is Hitradex legit?
The Hitradex is a dirty and scam broker that you have to stay away from. In this review we explain all the details and red flags.
Not regulated and anonymous
Hitradex pretends to be a brokerage company in the traditional sense: it allows its clients to trade on traditional financial markets. This requires the company to be regulated, to have valid licenses in every country it wants to have clients.
So, is Hitradex regulated? No. In fact, ti is a completely anonymous company. On its website it does not even say in which country it is headquartered, let alone any regulatory information.
This means that Hitradex is an unregulated and illegal broker. In the vast majority of countries in the world it can’t operate legally, because it has no license whatsoever.
Would you send your money to an anonymous company that is hiding from regulators? You should not!
Fake press reviews
The official website of Hitradex shows quotes from various media, like Business Insider for example, that supposedly published articles about this broker. However, they all are fake.
You can do a search on the web of Business Insider to see that this paper has never published a single word about Hitradex.
These fake quotes from reputable media are a proof that Hitradex is a scam.
Another thing that Hitradex fraudsters made up are the awards that the broker supposedly won (Best Crypto and Forex Broker, Best Platform for Margin Trading and Best Crypto Trading App).
Again, you can see it for yourself. Have a look at the website of ADVFN International Financial Awards to see that Hitradex has never won a single award. Which proves that this broker is a scam.
How Hitradex works
Hitradex is a scam broker. It’s modus operandi is very simple. It will take deposits from clients and never let them withdraw anything back. It just pretends to be a real broker while in reality it is a black hole for people’s money.
Scam brokers like Hitradex will often let you trade, they might even display nice profits on your trading account, but everything will be fake. When you ask for a withdrawal, it will either be denied or they will ask you to deposit more to be able to withdraw.
Which of course is just another dirty way of getting more money from you. As we understand it, deposits with Hitradex are made in cryptocurrencies like bitcoin, which makes them irreversible.
Which means that if you get scammed by Hitradex, the only thing you can do is go to the police and file a complaint. Because the broker is not regulated, deposits are not insured and no third independent part can compensate your losses with this fraudulent company.
Hitradex review – Conclusion
Hitradex is an unregulated and scam broker that will just take your money and make it disappear. Avoid it!
If you want to try legit trading, start on a free demo with a regulated company. You will get virtual money to try everything out.
If at some point you decide that you want to switch to trading with real money, make sure that you understand the risks and that you use only money that you can afford to lose.