Hyper Trades has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". Hyper Trades found at Hyper-Trades.company, https://ca-rfis.hyper-trades.company/ and https://finaeu.hyper-trades.company/ is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
If you are reading this considering Hyper Trades - run. I wish I had read more negative reviews based on a colleague's recommendation. I thought the positive ones were real. Maybe some are. My experience over for about five months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Clear documentation|Instant funding|Segregated accounts
Cons: Search feature is basic|Could offer more webinars
KYC with Hyper Trades is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Professional team|Responsive team|Good analytical tools
Cons: Limited social trading features
Hyper Trades seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Clear documentation|Personal attention
Cons: Cannot customize dashboard fully|Live chat only during business hours
My withdrawal request from Hyper Trades has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Market news feed|Intuitive for beginners|Copy trading available
Cons: Mobile app could be improved|Live chat only during business hours
I was about to invest with Hyper Trades but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Ontario Securities Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Flagged by Ontario Securities Commission|Cannot verify credentials
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Hyper Trades said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Good analytical tools|Great customer service|Customizable dashboard|Fast deposits
Cons: No integrated tax optimization|Research section could be deeper
Hyper Trades offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Good analytical tools|Economic calendar|Clear documentation
Cons: Help articles are sometimes vague
Hyper Trades has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Helpful community forum|Economic calendar
Cons: Wish they had more educational resources
I invested $10,000 with Hyper Trades after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Ontario Securities Commission.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
For anyone considering Hyper Trades, please be aware that this company has been flagged by Ontario Securities Commission. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction