Harborx is a new forex and CFD broker that is available as a mobile-only trading platform. The broker claims to offer a business model that is focused on games, trading competitions, missions and most importantly social interaction.

In the real world where the demand for trading is high and traders are looking for flexible means of investments, operating with a mobile-only platform doesn’t make much sense. One of the reasons is that it doesn’t cater to the needs of investors who are used to trading via desktop computers and laptops.

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But aside from this factor which can limit the number of traders this platform can attract, there are other things as well that simply do not work out. Our investigation reveals that Harborx is not the kind of broker experienced traders would be interested in.

Let’s find out why Harborx is not the ideal choice for investors. Top10BinaryDemo cannot confirm that Harborx can offer you a demo account. In order to avoid risking real money you can Proceed to an Approved Broker with Demo Account OR choose from the Top Demo Brokers:

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How To Trade with Harborx?

While we don’t recommend our readers to join this broker, here’s a look at how to get started with them.

Traders are required to complete the sign up form that is available on their official website. The next step is to add a deposit and enter the member’s area where traders can choose an expert to follow.

The moves of these ‘Star Traders’ can be copied into the accounts of those who follow them. But the main problem is that their experts are just ordinary traders who don’t have much knowledge or experience in this field. Copying their moves doesn’t really help because the majority of them lead to losses. With Harborx, it is quite easy for traders to lose their investment capital and this is one of the main reasons why we don’t recommend this broker.

Is Harborx Scam or Legit?

From the information and details we have managed to gather, it is quite evident that Harborx is linked to scam services. The broker is not legit and we have few reasons to say this.

First of all, they are not regulated by any financial regulatory authority. Secondly, they only offer services via a mobile trading platform, making them a poor choice for investors who enjoy trading from their desktops and laptops.

The payment methods are limited and the bonuses that come with weekly competitions and promotions are also hard to withdraw. In fact, it is not possible to withdraw the bonuses until a certain trading volume is reached. The social trading aspect lacks in certain areas. Complaints that can be found on the internet about this broker also set off alarm bells that this broker is a scam.

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Minimum Withdrawal and Deposit

Harborx supports only a small range of payments. The options that are available include PayPal, Skrill, Bank Transfer and Credit cards. They say that their minimum deposit is $50 only. but there is no information available on their withdrawal amounts or requirements.

The withdrawal process is rather lengthy and confusing. From the reviews we have come across on the internet, Harborx makes withdrawals complicated and even suspends trader accounts when withdrawal requests are made.

Trading Platform

Harborx only offers mobile trading. the app is not designed in a professional manner and it is mainly geared towards newcomers who want to invest in forex. The features of the platform are also very basic. It only allows investors to place orders, stop loss, view their trading history and compare their performance with others.

Bonuses are also available, but they come with their own terms and conditions which in most cases are not appealing to investors. Social trading options are available, but there is not much that investors can do with this feature. Basically, the people that Harborx calls experts are not actually experts. They are just inexperienced traders and copying their moves would only equate to making a guess between yes and no.

There is nothing exciting that Harborx has to offer through its social trading platform. We are neither impressed with the mobile-only trading platform not its features.

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Customer Support

Poor customer support service can impact a business in a number of ways. We are already so dissatisfied with what Harborx has to offer and if all this was not enough, their support team is comprised of uneducated and unprofessional members.

They take a long time to address questions and concerns. Actually they aren’t helpful at all. Once traders sign up, they are basically left on their own without much support. They claim to be available full time via phone, email and live chat, but their representatives aren’t prompt when it comes to answering questions or resolving issues.

Final Words

If you are looking for an innovative and approaching trading platform, then Harborx is not the right choice for you. The platform is not fun and interactive and as a beginner, you will certainly have troubles with the design and layout.

Experienced traders will also not find it worth their time and attention. Social trading features are very basic and doesn’t have much to offer. Overall, Harborx is not a good choice for traders who are looking for an enjoyable or enhanced trading experience.

Conclusion

After our research we concluded that Harborx does not provide a demo account.

The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.

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We Advise you to Visit Broker with Demo Account OR Choose One of the Top Brokers Above.

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David

David

Hello!
I am David Raines, a Forex trader with years of experience in online trading. I write reviews of Forex Brokers, Auto Trading Software and Signals Providers.
David

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