Everything you ever find on this website is a charade. The firm offers nothing tangible when it comes to trading conditions, but that’s the least of your worries.
The real problem is that it is an unregulated firm wearing a mask of somebody else’s business, as you’ll see in our HW Online review.
| Regulated by: | Unregulated |
| Is This Company Safe? | No, never invest with unlicensed firms! |
| Known Websites: | hw.online
hw.site |
| Have Warnings from: | N/A |
| Registered in: | South Africa (alleged) |
| Operating since: | 2022 |
| Trading Platforms: | Proprietary app |
| Maximum Leverage: | Unlimited |
| Minimum Deposit: | $1 |
| Deposit Bonus: | No deposit bonus. Various promotions available. |
| Trading Assets: | Forex, Cryptocurrencies, Metals, Energies, Stocks, Indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Contact our recovery team to have your assets reimbursed. |
Nothing but a Clone
HW Online broker claims to be owned and operated by JAROCEL PTY LTD, registered in South Africa and authorized by FSCA under the license number of 52108.
However, as soon as we started digging deeper, we found out that neither of the domains we’re reviewing belongs to this company. The firm in question only runs one brokerage brand registered on headwaybrokers.com website.
Apparently, this regulated broker has nothing to do with the two suspicious sites that are only impersonating the company. Clone attempts and imposters are quite common in the Forex trading world and they pose a significant threat to the safety of investors’ funds.
All they do is try to resemble regulated firms well enough to trick investors into depositing on their site. Funds safety isn’t ensured, there’s no chance to compensate losses and withdrawal of profits is denied.
Fraudsters’ Deception Revealed
The broker operates two distinct websites, both created on the same day in May 2022. Web traffic analysis shows that these areas are most impacted by the scheme:
- United States
- United Kingdom
- Canada
Our Headway review has already shown you that the scammers misappropriate another firm’s credentials. This does not only deceive the potential and existing clients of the regulated broker, it creates confusion with the general public as well.
It’s also a way to fake a large online presence despite the fact that there are no HW Online reviews. This is what the boiler room agents working for the fraudsters capitalize on.
They pretend to be agents from a large corporation, when in fact, they sit in a filthy room somewhere and endlessly call people on the phone. If you’ve had an encounter with these cybercriminals, contact our experts to start a fund recovery process.
Terrifying Unlimited Leverage
As the company specifies on their account comparison page, HW Online trading leverage ranges from 1:1 to 1:unlimited. For beginners, that means that quick loss of entire life savings is guaranteed. Spreads aren’t entirely well defined, as they’re only marked as floating and starting from 0.3 pips.
Commission, on the other hand, is only charged for the Pro account and it’s up to 1.5$ each side per lot. Taxes on monetary transactions remain an issue, as nothing concrete is said.
Ongoing Promotions
Currently the most popular bonus offered on the site is the $111 for first trade. There’s other contests, such as gift shopping, trading achievements and others. However, when it comes to withdrawing these profits, you need a trading volume requirement reached first.
The total number of lots you have to trade is calculated in the following way: Bonus / 10 = number of lots which is pretty much impossible.
Suspicious Downloads and Features
You should be extremely careful when being offered anything by unregulated platforms who only wish to appear legitimate. Trading portals such as this one or, for example, Coinomi will offer a palette of tools and features, but they’re all bogus products. Let us elaborate on that.
Copy Trading Encouraged
Major function advertised by the company is their HW Online copy trading feature that you can activate from the user panel. This means that you will be copying trades from other, allegedly successful traders.
This entire scheme could be a well-designed simulation, designed to trick you into believing your positions will turn out profitable. All your trades will, however, eventually fail and you’ll lose money to these con artists.
Mobile App is in Stores
With over 100k downloads HW Online app has had from the Google Play store, some may even fall for the trickery. Interestingly enough, reviews are disabled.
The software is not as popular in the App Store and the 31 positive reviews on there may as well be fake. The site offers a download via a QR code, but that is something we definitely do not advise you to do.
Unrealistic Promises About Assets
While there’s no traces of MT5, the site still claims the presented tradable products groups are only available on that software. Does that mean that there’s no trading via the proprietary mobile app? We can’t say.
Either way, here’s a short list of examples of advertised financial instruments:
- Forex – EUR/USD, USD/AUD, USD/CAD
- Metals – Gold, Silver
- Cryptocurrencies – ADA, BAT, BCH
- Energies – Brent, Crude, Nat. Gas
- Stocks – Adobe, Electronic Arts, PayPal
- Indices – IDX30, JII, US500
Not a Rich Offer of Accounts
Packages designed by the HW Online scam will have you believe they offer everything a beginner trader or a professional investor prefers. That’s why these account options are advertised:
- Cent – $1
- Standard – $10
- Pro – $100
Don’t let the minimum deposit requirements fool you – even a single penny invested here will be lost to online fraudsters.
No Sign of Policies
In order to make us believe the story about quick and safe HW Online withdrawal, the broker would have to be a regulated online trading brand with a history of good practice. Unfortunately, this is not that kind of firm. Due to the absence of policies and other legal docs, we had to rely solely on the information found in the client zone.
Here, however, only two payment methods are mentioned:
- Digital payment services (PerfectMoney, Neteller, Skrill)
- Crypto (BTC, ETH, LTC, TETHER)
Knowing how tricky it is to track lost crypto investments, we don’t recommend using this transaction channel.
“Happy to Help”
First impressions you’ll have about the company’s client support service will be entirely wrong. Despite claiming to always be at your disposal and ready to assist you, we couldn’t find a single way to communicate other than the online chat and request form. Even that option relies entirely on a bot and you never get to contact a firm’s employee.
Don’t Forget – We Offer Real Help!
This broker is just another one of shady companies like Crypto Pilot, which promise the world but give nothing in return. It required experience and dedication to pull the money out of schemes like these.
Our experts can help, any you may reach them via the live chat at any time of day or night. Book a free consultation today, and start a procedure that will have your money returned.
FAQ Section
What is HW Online?
It is a clone company scam which misrepresents their business as belonging to a regulated firm.
Is HW Online Legit?
No, the broker is merely using credentials from a licensed firm. This is called a clone company, and is very dangerous.
How to Get Money From My Headway Account?
Contact our legal team to start a recovery procedure. We are available 24/7 via the live chat.
Source:
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