CySEC licence 411/22

The stop-out level is 10 percent across all four account tiers. The firm's documents describe a margin mechanism in which equity must remain above 50 percent of the position margin, with a warning displayed on the platform when equity falls to 70 percent of required margin, and the most adverse positions closed first once the floor is breached.

The firm states that client money is held in segregated accounts separate from its operating funds, subject to daily bank audits, and that it holds professional indemnity insurance which it says would give clients full compensation if the company had financial problems. Those are the firm's own representations. The Comoros authorisation the retail service runs under carries no statutory compensation scheme, so there is no independent backstop equivalent to the investor compensation funds attached to European or Australian licences.

It may. The Hedging Policy in its own legal documents states that in certain markets, including foreign exchange, OTC FX options and CFDs, the firm may act as a market maker, filling orders from its own inventory, and may hold positions contrary to those of its clients. The same documents also prohibit clients from hedging, meaning you cannot hold opposing positions on the same instrument.

Yes. The accounts page shows a swap-free option as available on all four tiers. The specific eligibility conditions are not published on the site.

No. The Terms and Conditions state plainly that, because of CFTC restrictions and the Dodd-Frank Act, the firm cannot open accounts for US residents, and the document defines that term broadly to cover US-organised entities, US branches of foreign entities, and trusts or accounts held for the benefit of US residents. Note that the online registration form's country selector still lists the United States, so the block is applied later in onboarding rather than at the form.

The firm's anti-money-laundering policy imposes a 2.5 percent handling fee on withdrawals from accounts that have done no trading. The name on the receiving bank account must match the trading account name exactly: third-party withdrawals are refused under any circumstances. The site does not publish a processing time for withdrawals, which is a gap worth raising with support before you fund an account.

Three channels are published. A deposit terminal via online banking is stated to credit within two hours of acceptance. A bank wire accepts USD, GBP, EUR and other currencies and takes three to five business days. UnionPay remittance takes two to three working days. The firm states it charges no fee of its own on wires, but your own bank or an intermediary bank may.

Branded MetaTrader 4 and MetaTrader 5 builds, both available as a Windows desktop terminal, as iOS and Android apps, and as a browser-based web terminal. MT4 is also offered for Mac. Expert Advisors are supported and the minimum lot size is 0.01.

Up to 1:2000 on the Standard, Premium and Pro accounts, and up to 1:500 on the Cent account. The terms allow the firm to cut leverage temporarily to 1:100 for five minutes either side of major data releases such as Non-Farm Payrolls, and for roughly an hour before the Friday close. Leverage at this level magnifies losses as much as gains and is not available from mainstream regulated brokers.

25 on the Cent account, which is denominated in US cents. The Standard account starts at 250, Premium at 2,500 and Pro at 10,000, all in USD.

The site names HARMOVEST CAPITAL (COMOROS) LTD as the operator of www.hmvest.com, registered at Bonovo Road, Fomboni, Island of Moheli. Related companies include HARMOVEST CAPITAL (CYPRUS) LTD (HE 416402), HARMOVEST PRO CAPITAL (CY) LIMITED (HE 475303), HARMOVEST CAPITAL AUS PTY LTD (ACN 623 390 527) and HARMOVEST CAPITAL (NEW ZEALAND) LIMITED (company number 9441489). The New Zealand company's register entry names Peipei Qin as sole director and a Cayman Islands company, Harmovest Capital Holding Ltd (registration 401827), as ultimate holding company.

Partly, and the detail matters. The service at www.hmvest.com is operated by HARMOVEST CAPITAL (COMOROS) LTD under a Comoros brokerage licence, number T2023331 according to the site footer. That is a low-tier offshore authorisation with no client-money compensation scheme and no meaningful dispute mechanism.

The brand also advertises a Cyprus licence (CySEC 411/22) and an Australian licence. Those belong to different companies in the group: the Cyprus licence covers HARMOVEST CAPITAL (CYPRUS) LTD on the separate hmvest.eu site, and the Australian licence is institutional in scope and does not authorise retail client activity. Opening an account on the main site does not put you under either of them.