Already, Hallip is on the warning list of the Financial Commission. And this puts to rest any claim indicating the platform is legit. Despite calling for users to become professional traders, hallip.com is a complete flop. You are bound to lose your investment with such a platform. And the reviews that don’t even come close to the truth. Hundreds of investors have lost funds with the platform. Learn more in our clear HALLIP REVIEW.
The company’s history dates back to 2018, and this is according to their about us page. Although they go with an orange theme, we find it opposing. According to the 2018 calendar year, the platform netted 10,000 traders.
Although there’s no way of substantiating these claims, one thing’s for sure. There have been several complaints lodged against the platform in the past few months. But, unfortunately, the first traders were used to attract more investors into the fray.
With the first few members, the platform ensured there was a fair trading experience. As a result, most of them did manage to withdraw funds for the first time. And that’s how the platform used these traders to attract other investors.
When the membership grew, so made the deposits made by investors. And this is where Hallip turned into the fracas show we are witnessing today. New members are having a hard time trying to withdraw funds.
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Although the platform claims to reside in Cyprus, we see this as a false claim. Furthermore, the platform uses Russian as the default language. Therefore, we suspect the people behind it are targeting Russian investors residing in Europe.
Hallip offers three account types to choose from. These include Mini, Standard, and Premium. We have to insist that you should invest with platforms that follow regulations. For instance, the set acceptable minimum deposit is $250.
With Hallip.com, members must deposit $1,000 with the most basic account tier. It’s unacceptable, and this should not be the case. Let's take a closer look at each account type and what they offer;
Mini
For those that don’t want to risk too much, the Mini account offers leverage of 1:20. The allowed minimum deposit is $1,000. Members get instant execution and a personal account manager. ETF and Index trading is allowed with trading instruments, including crypto and metals.
Standard
To use the standard account, members must deposit $25,000. The leverage set for this account is 1:50, and PAMM account investing is possible. Other features include a personal manager and no swap.
Premium
It’s the most exclusive account type and comes with a minimum deposit of $50,000. We made it clear that the account is best for institutional clients. Leverage for this account is set at 1:100, which is acceptable.
What’s clear with these accounts is that they offer fair trading conditions. The platform uses the acceptable maximum leverage of 1:100. Although they claim to offer deposit insurance on all accounts, we highly doubt it.
One of the biggest misconceptions is that the platform offers professional account managers. From the word go, we see a platform trying to insinuate professionalism. One problem is there’s no way of knowing for sure.
We don’t have any proof that these are actual account managers. If they were, the platform wouldn’t be facing issues such as losses and withdrawals. But, unfortunately, the platform fails to list who these professional managers are.
You want assurance that the person holding or your funds is accountable. We suspect the platform is hiring call agents to act as professional account managers.
Judging from what clients indicate, the managers call you day and night asking for more deposits. However, most of the calls have one thing in common, and they claim to have found a way of doubling your funds.
All you have to do is deposit with them and wait for the profits to soar. But, unfortunately, those who make a mistake fall into a deep hole. And this is what you should try and avoid at all costs. These call agents earn their pay with the commission they get from your deposit amount.
As far as the owner goes, the platform is completely anonymous. No one knows who actually runs the show. And this makes it a risky alternative for investors. Once you make the mistake of investing, you don’t know who holds your funds.
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And this makes the recovery process harder for anyone trying to withdraw funds. There’s no transparency making it a risky investment platform. We don’t get to see any names of personal accounts or team members.
On the contact page, there’s a request for a call tab. There’s no way you can contact them unless they first make contact. The platform leaves no forwarding address or phone number. We believe we know why this is the case.
No member of the team wants to be held responsible for lost funds. The team doesn’t want any contact with their would-be victims. We insist that the best way of investing is using a readily available platform.
To deposit funds with the platform is straightforward, and the process takes less than five minutes to complete. You can deposit funds via bank transfer, Bitcoin, MasterCard, and Visa. These are the available channels for depositing funds.
Withdrawing funds with the platform is a whole new level of investing. But, unfortunately, no one has recently managed to withdraw funds with the platform. And this is the reality facing dozens of investors within the platform.
Hallip is not a Cypriot registered platform despite claiming to have a license from CySEC. We did check with CySEC to confirm whether the platform is duly registered. Unfortunately, there are no results of this platform on the registry.
It points out a platform that fails to inform users of their compliance properly. Without any oversight, the platform is free to operate as they please. And this is why there’s no withdrawal taking place.
The claim of having a license from CySEC is false. Hallip.com fails to provide any documents that prove they are registered. A compliant website will post copies of their certificates for all to see.
You must confirm with authorities whether a platform is registered. All registered platforms are found on the official registry page of each register. Reliable regulators in the industry include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, FINMA, and SEC.
The security of funds with a platform with false registry claims is not possible. Additionally, your funds are not secure with a platform that fails to allow withdrawals.
There’s no deposit insurance as the platform fails to deposit the minimum required amount to operate. In addition, the platform fails to deposit funds with regulators, which act as insurance for deposits made.
Here are the main reasons why we don’t recommend Hallip
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