HedgeHood claims to be a forex broker registered in the Marshall Islands, offering trading services in indices, stocks, forex, commodities, metals, and funds. The company states its headquarters are located in New South Wales, Australia. According to HedgeHood's official website at https://www.hedgehood.com/, the website is available only in English and Korean.
Company Background:
HedgeHood operates under the entity Hedgehood LTD, with its registered address in the Marshall Islands, registration number 121183. The detailed company address is Suite 3 Level 3, 10 Bridge Street, Sydney, NSW 2000, Australia. A WHOIS search reveals that the domain hedgehood.com was registered in 2021.
From the ASIC regulatory information provided on the HedgeHood official website, we learned that the company has another domain name, hedgehood.com.au. However, after conducting a whois query, we were unable to find the registration date for this domain.
Regulatory Status:
However, HedgeHood also claims regulatory oversight from the Australian Securities and Investments Commission (ASIC) and states that it holds an ASIC AFS license with the license number 001303318. In reality, there is no evidence to support HedgeHood's claim of ASIC regulation. Regulatory oversight is considered a crucial factor in protecting the interests of investors and ensuring fair operation in financial markets. Investors should exercise extreme caution and avoid falling into potential scams.
HedgeHood's official website information regarding ASIC regulation is as follows:
The results of HedgeHood's ASIC regulation query are as shown above.
How to Register with HedgeHood？
Users with existing accounts can log in by entering their email and password. The platform also supports direct login via Google, Microsoft, or LinkedIn accounts. New users can register for a personal account by providing their name, email, and creating an account password.
The broker offers the option of opening a demo account, allowing users to experience trading with virtual funds before opening a real personal account. A demo account replicates the real trading environment and functions but uses virtual funds for trading.
Market Instruments:
The forex market, one of the largest in the world, offers users the choice to trade from over 60 currency pairs. HedgeHood provides leverage of up to 500:1, starting spreads from as low as 0.0 pips, and employs the MT5 trading platform. Forex trading is available 24/5, and the broker claims there are no requotes or hidden fees during trading.
The commodity market allows investors to buy and sell various commodities, including oil, natural gas, gold, and more. These commodities can be traded on the MT5 trading platform with leverage of up to 100:1. The broker offers 24/5 trading in commodities and states that there is no price manipulation in this market.
For trading in metals, HedgeHood offers real-time gold charts, leverage of up to 500:1, and 24/5 trading. The broker emphasizes low-cost trading in this asset class.
In the indices market, HedgeHood provides access to indices such as NASDAQ 100, S&P 500, EUREX, and more. Investors can choose flexible leverage options and utilize the MT5 trading platform for bidirectional trading.
Trading Platform:
HedgeHood utilizes the MT5 trading platform, offering multiple trading options to investors. The MT5 platform is available on various devices, including MT5 Windows, MT5 Mac, MT5 iOS, and MT5 Android. The broker also provides WebTrader - MT5, allowing users to access the trading platform through a web browser without the need to download or install any software. WebTrader - MT5 supports copy trading and offers Percentage Allocation Management Module (PAMM) services. Users have the opportunity to apply for a PAMM account, which enables more complex asset management and investment strategies.
Account Types:
The broker offers two distinct types of accounts for investors to choose from. First, there is the Raw Account, which requires a minimum deposit of 100 Australian dollars, offers spreads starting from 0.0 pips, and charges a commission of $2.5 per side (including both buy and sell transactions). Second, the Standard Account also has a minimum deposit requirement of 100 Australian dollars, but it offers spreads starting from 1.0 pip and does not impose additional commission fees.
Raw Account:
Standard Account:
Deposits and Withdrawals:
The broker provides users with a variety of deposit and withdrawal methods. Users can choose from options such as credit card payments, Neteller payments, Skrill payments, and more. In most cases, these methods do not incur additional fees, and the processing speed is typically swift.
Similarly, users can opt for methods like credit card payments, Neteller payments, Skrill payments, EBUY, and others for withdrawals. However, some withdrawal methods may involve certain fees, and the withdrawal processing time usually takes one working day.
Customer Support:
The company offers 24/5 online customer support, available in multiple languages, including English, Korean, Vietnamese, Thai, Malay, Indonesian, and Chinese. Users can contact the company through phone at +61 1800 845 095 or by sending an email to support@hedgehood.com.
In Summary:
HedgeHood claims to be regulated by the Australian Securities and Investments Commission (ASIC) and holds an ASIC AFS license. However, in reality, this broker is considered a fraudulent forex trading scam. Currently, the company is flagged as "suspected scam" on TraderKnows. Investors should exercise extreme caution and steer clear of HedgeHood, a platform that claims regulatory oversight but lacks any evidence of supervision by regulatory authorities. In the realm of forex trading, regulatory oversight is crucial for safeguarding personal financial security and reducing investment risks.
