HispaMarkets Review (2023)
Is HispaMarkets a scam or a legit broker?
We advise our readers, do not use HispaMarkets as it is an offshore entity. HispaMarkets is owned by Hispa Mkts LTD, which is an offshore company registered in St. Vincent and the Grenadine.
St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Brokerz, TraderUR and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
About HispaMarkets
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is HispaMarkets safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | IC Markets - licensed by ASIC in Australia |
HispaMarkets is a Forex and CFD broker owned and operated by Hispa Mkts LTD affiliated to 1000 Extra LTD. Hispa Mkts LTD and 1000 Extra LTD are offshore companies registered in Saint Vincent and the Grenadines. There is one more company mentioned on the website – 1000 Extra OU, a provider of the clearing services provided for HispaMarkets. It is already quite suspicious that there are at least three firms behind HispaMarkets brand, and none of these entities are regulated nor licensed. In addition, the main office is located in Argentina. There is also a small picture of the VSFC (Vanuatu Financial Services Commission) sign on the top of the website, although HispaMarkets has nothing to do with this authority.
The website supports several languages (English, Spanish, Italian, Portuguese, French, Arabic, and Chinese), but the default language is Spanish and also the broker’s name speaks for itself. That’s why we suppose the company has been targeting Spanish-speaking countries. To sum up, the broker with too many affiliate companies and confusing registration details definitely cannot be trusted.
Conclusion
The first thing the potential investor should do when he is choosing a trading company is to determine if it is a legitimate broker or a scam broker. It is very easy to do. You just need to check if the broker is licensed by CySec in Cyprus, or it is under the regulation of the MIFId in the European Union (EU), or it is registered with the UK’s FCA or Australian ASIC.
HispaMarkets is not longer active.