hyrotrader.com Scam Check: 10/100 Trust | ScamMinder

Exercise caution when interacting with this website.

https://hyrotrader.com redirected to https//www.hyrotrader.com during the time we crawled it. The website hyrotrader.com claims to be a crypto prop trading firm, offering to fund traders with up to $100,000 in capital and allowing them to keep up to 90% of their profits while covering the losses. However, there are several red flags and characteristics commonly associated with scam or high-risk operations in the cryptocurrency and trading industry: 1. Unrealistic Promises: The promise of funding traders with large amounts of capital and allowing them to keep a high percentage of profits, while covering their losses, is highly unusual in the legitimate trading industry. It's important to be cautious of such claims, as they often turn out to be unrealistic or misleading. 2. Lack of Regulation: The website does not provide clear information about its regulatory status or any oversight by financial authorities. Legitimate trading firms are typically regulated and licensed by relevant financial authorities, which provides a level of security and accountability for traders. 3. High Profit Shares: Offering traders a high percentage of profits (up to 90%) is uncommon in the trading industry, especially for funded accounts. This could be a tactic to lure in traders with unrealistic promises. 4. Evaluation Fees: The website mentions collecting evaluation fees from unsuccessful traders and redistributing these fees to successful traders. This kind of fee structure is not typical in legitimate trading firms and can be a red flag. 5. Lack of Transparency: The website does not provide detailed information about its trading strategies, risk management practices, or the specific terms and conditions of its funding program. Legitimate trading firms are transparent about these aspects. 6. Testimonials: While the website features positive testimonials, it's important to remember that these can be easily fabricated or manipulated. Genuine reviews from independent sources are more reliable. 7. Fast Payouts: The claim of offering the fastest payouts in the industry, with the ability to request a payout after just one day of trading, is highly unusual and could be a tactic to entice traders without providing a realistic picture of the trading process. 8. Country Restrictions: The website mentions that there are no country restrictions for traders, but it also states that traders must use their own Bybit account and adhere strictly to Bybit’s regulations. This could lead to confusion and potential legal issues for traders in certain jurisdictions. 9. High-Risk Warning: The disclaimer at the bottom of the website, warning about the high-risk nature of trading and advising not to risk more than one can afford to lose, is a common feature of many scam or high-risk operations. It's often used to absolve the company of responsibility if traders incur significant losses. 10. Use of Cookies: While not directly related to the legitimacy of the trading operation, the website's use of cookies is a standard practice. However, it's important for users to be aware of how their data is being collected and used. Based on these observations, it's advisable to approach hyrotrader.com with extreme caution. The website exhibits several characteristics commonly associated with high-risk or potentially fraudulent trading operations. It's crucial for anyone considering involvement with such platforms to conduct thorough research, seek independent verification of claims, and, if possible, consult with financial or legal professionals before making any commitments or investments."

• Unrealistic Promises, Lack of Regulation, High Profit Shares, Evaluation Fees, Lack of Transparency, Testimonials, Fast Payouts, Country Restrictions, High-Risk Warning, Use of Cookies