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Harris foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://harrisforex.com/, about the company's legal and temporary regulatory information, the company's address 3601 Green Road, Suite 100 Beachwood, Ohio 44122, USA.

Harris Forex Broker

Basic Information

Registered Region

United States

Operating Period

Company Name

Harris Financial Group

Abbreviation

Harris

Company employee

Customer Service Email Address

services@harrisforex.com

Contact Number

+17072440517

Company Website

https://harrisforex.com/

Company address

3601 Green Road, Suite 100 Beachwood, Ohio 44122, USA

Keywords

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Aspect Information Registered Country/Area USA Company Name Harris Financial Ltd. Regulation Not regulated Minimum Deposit $100 Maximum Leverage 1:100 Spreads not specified Trading Platforms MT5 Tradable Assets Forex, commodities, shares, indices, precious metals, crypto coins Account Types Not specified Demo Account available Islamic Account available Customer Support Not specified Payment Methods China Union Pay, bank wire transfers, digital coins Educational Tools None Overview Harris Financial Ltd. claims to be a US-based broker but operates without proper regulation, raising significant concerns about its legitimacy and trustworthiness. With a lack of transparency regarding account types, spreads, and customer support, coupled with reports of it being a scam and its website currently down, investors are strongly cautioned against engaging with this unregulated entity. The absence of educational tools and the presence of red flags underscore the importance of seeking reputable and regulated brokers for a secure and trustworthy trading experience. Regulation Harris Financial Ltd. currently operates without valid regulation, and there is no evidence of it being regulated by reputable authorities like the Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA), despite its claims of being based in the USA. This lack of regulatory oversight raises concerns about the company's commitment to investor protection and adherence to industry standards. Unregulated brokers may lack essential safeguards, making it essential for investors to prioritize regulated brokers with established compliance and client protection measures in place for a secure trading experience. Pros and Cons Pros Cons Offers a variety of trading instruments. Operates without valid regulation, raising concerns about legitimacy and investor protection. Provides access to the MetaTrader 5 Lack of transparency regarding account types, spreads, and customer support. (MT5) trading platform known for its Reports of potential scam activities and a non-functional website. advanced features. Absence of educational resources for traders. Low minimum deposit requirement. Limited and somewhat elusive customer support contact information. Maximum trading leverage of up to 1:100. Incomplete information about spreads, commissions, and withdrawal processes. Harris Financial Ltd. presents a concerning profile as an unregulated broker claiming to be based in the USA. With a lack of regulatory oversight, opacity surrounding account types, spreads, and customer support, as well as reports of potential scam activities and a non-functional website, it poses significant risks to investors. The absence of educational resources further diminishes its appeal. It's crucial for potential clients to exercise extreme caution when considering this broker and to prioritize regulated and reputable alternatives for a secure and trustworthy trading experience. Market Instruments Harris Financial Ltd. offers a range of trading instruments, including: Forex Pairs: Traders have access to a variety of currency pairs for forex trading. These pairs typically include major, minor, and exotic currency pairs, allowing investors to engage in forex trading across a wide spectrum of global currencies. Commodities: The broker offers trading opportunities in commodities, which may include popular options like gold, silver, oil, and other raw materials. Commodities trading provides diversification and can serve as a hedge against economic uncertainties. Shares: Harris Financial provides the option to trade shares, allowing investors to buy and sell stocks of publicly listed companies. This enables traders to participate in equity markets and potentially benefit from company growth. Indices: Traders can also speculate on the performance of stock market indices, such as the S&P 500, NASDAQ, or Dow Jones Industrial Average. Indices trading allows for exposure to broader market movements rather than individual stocks. Precious Metals: The broker offers trading in precious metals like gold and silver, which are often sought after for their value and as safe-haven assets during times of economic volatility. Cryptocurrencies: Harris Financial likely includes cryptocurrencies among its trading instruments, providing access to digital assets such as Bitcoin, Ethereum, and others. Cryptocurrency trading has gained popularity as a speculative and investment option. Trading Instrument Description Forex Pairs Major, minor, and exotic currency pairs Commodities Gold, silver, oil, and other raw materials Shares Stocks of publicly listed companies Indices Stock market indices like S&P 500, NASDAQ, etc. Precious Metals Gold, silver, and other valuable metals Cryptocurrencies Digital assets such as Bitcoin, Ethereum, etc. Account Types It appears that the broker has not disclosed the specifics of its account offerings, which is a significant concern for potential investors. To make informed decisions about trading accounts, traders typically need to know details such as minimum deposit requirements, account features, and benefits associated with each account type. It's advisable for investors to choose brokers that provide clear and transparent information about their account options to ensure they select an account that aligns with their trading goals and preferences. Leverage Harris Financial Ltd. offers a maximum trading leverage of up to 1:100, as mentioned in the provided information. Leverage in forex trading allows traders to control larger positions with a relatively smaller amount of capital. A leverage ratio of 1:100 means that for every $1 of the trader's capital, they can control a trading position worth up to $100. While leverage can amplify potential profits, it also magnifies potential losses, making it a double-edged sword in trading. Traders should use leverage cautiously and be aware of the risks associated with higher leverage levels, ensuring they have a risk management strategy in place to protect their investments. Spreads and Commissions It's mentioned that spreads and commissions may vary depending on the type of trading accounts offered by the broker, but the exact details are not disclosed. Typically, spreads represent the difference between the bid and ask prices in a currency pair or other financial instrument and can vary from broker to broker. Commissions may apply to certain types of trading accounts or specific trading activities. To make informed decisions about trading costs, traders usually need clear and transparent information about spreads, commissions, and any other fees associated with their chosen trading account. Since this information is not provided, potential investors should exercise caution and seek clarification from the broker regarding their specific trading costs before opening an account. Deposit & Withdrawal The information provided mentions that the minimum deposit requirement for Harris Financial Ltd. is $100. However, specific details about the withdrawal process, withdrawal methods, fees, and any associated terms and conditions are not specified. The absence of this crucial information raises concerns about the transparency and reliability of the broker in handling deposits and withdrawals. When dealing with a broker, it's essential for traders to have a clear understanding of the deposit and withdrawal procedures. They should be aware of the available payment methods, processing times for withdrawals, potential fees, and any minimum or maximum withdrawal limits. Additionally, knowing the broker's policies regarding withdrawals is essential to ensure a smooth and secure financial experience. In the absence of such details, it is advisable for traders to exercise caution and seek clarification from the broker regarding their deposit and withdrawal processes to make informed decisions regarding their financial transactions. Trading Platforms Harris Financial Ltd. offers the MetaTrader 5 (MT5) trading platform, a versatile and well-regarded platform known for its advanced features, user-friendly interface, and comprehensive charting tools. MT5 caters to both novice and experienced traders, providing access to various financial instruments and automated trading options. However, while the platform itself is reputable, it's crucial to consider other factors like regulation and customer reviews when evaluating the overall trading experience with Harris Financial Ltd. Customer Support Harris Financial Ltd.'s customer support, as indicated by the provided contact information, appears to be lacking in transparency and accessibility. While they offer an English-language contact number, the absence of other international contact options raises concerns about their commitment to serving a global clientele. Additionally, the sole email address provided, services@harrisforex.com, without further details on response times or support hours, leaves potential clients in the dark regarding the efficiency and responsiveness of their customer support. This limited and somewhat elusive contact information does little to instill confidence in the broker's commitment to addressing client inquiries and concerns promptly and effectively. Educational Resources The information provided does not specify the educational resources offered by Harris Financial Ltd. A lack of clarity on the broker's educational offerings raises concerns about their commitment to providing traders with valuable learning materials, tutorials, and resources essential for skill development and informed decision-making. Reputable brokers typically offer a range of educational tools, including webinars, articles, videos, and demo accounts, to support traders in enhancing their knowledge and trading abilities. In the absence of detailed information, prospective clients may find it challenging to assess the broker's dedication to trader education. It is advisable for traders to seek further clarification from the broker regarding their available educational resources. Summary Harris Financial Ltd. presents a concerning profile as an unregulated broker claiming to be based in the USA. With a lack of regulatory oversight, opacity surrounding account types, spreads, and customer support, as well as reports of potential scam activities and a non-functional website, it poses significant risks to investors. The absence of educational resources further diminishes its appeal. It's crucial for potential clients to exercise extreme caution when considering this broker and to prioritize regulated and reputable alternatives for a secure and trustworthy trading experience. FAQs Q: Is Harris Financial Ltd. a regulated broker？ A: No, Harris Financial Ltd. operates without valid regulation, raising concerns about its legitimacy and commitment to investor protection. Q: What trading instruments are available with Harris Financial Ltd.？ A: The broker offers a variety of trading instruments, including forex pairs, commodities, shares, indices, precious metals, and likely cryptocurrencies. Q: Can I access educational resources with Harris Financial Ltd.？ A: The information provided does not specify the availability of educational resources, leaving traders uncertain about the broker's commitment to trader education. Q: What is the minimum deposit requirement for Harris Financial Ltd.？ A: The broker requires a minimum deposit of $100, although further details about deposit and withdrawal processes are not provided. Q: Which trading platform does Harris Financial Ltd. offer？ A: Harris Financial Ltd. provides the MetaTrader 5 (MT5) trading platform, known for its advanced features and versatility, catering to both novice and experienced traders.

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harris Complete Account Guide: Registration, Account Opening, and Login Processes Navigating the harris platform can be a straightforward process if you understand the steps involved in registration, account opening, and login. This comprehensive guide will walk you through each process, addressing

Harris Forex Broker - Complete Information Guide

1. Company Overview

　　Harris Financial, also known as Harris Forex, is an offshore broker that claims to provide forex and CFD trading services. Established with the intention to cater to both retail and institutional clients, Harris Financial positions itself as a diversified trading platform. The company claims to be headquartered in Ohio, USA; however, there are significant doubts about its actual location and legitimacy. The company operates privately and does not appear to be publicly listed.

　　Harris Financial offers a wide range of trading instruments across various asset classes, including forex pairs, commodities, shares, indices, precious metals, and cryptocurrencies. Despite claiming to offer competitive spreads and leverage up to 1:100, the absence of regulatory oversight raises concerns about the safety of client funds. Furthermore, there is no substantial corporate background available, which adds to the skepticism surrounding the broker's legitimacy. The lack of a clear business model and the absence of a reliable operational history are notable points of concern for potential clients.

　　The company is said to have been awarded as the best global forex MT5 broker for 2020 at the Global Forex Awards, but these claims are regarded as dubious due to the absence of credible verification. Harris Financial's business model primarily focuses on retail forex trading, but it also aims to attract institutional clients through various trading solutions.

2. Regulatory and Compliance Information

　　Harris Financial is an unregulated entity, which is a significant red flag for potential traders. The absence of regulation means that there are no governing bodies overseeing its operations, making it difficult for clients to ensure the safety of their funds. The company does not possess any licenses from reputable regulatory authorities such as the Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA) in the United States, nor does it hold licenses from European regulators.

　　The lack of guaranteed funds and segregated accounts for client deposits further exacerbates the risks associated with trading with Harris Financial. This means that in the event of insolvency, clients have no assurance that their funds will be protected. Additionally, Harris Financial does not seem to implement robust Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, which are standard practices among regulated brokers to prevent fraud and protect clients.

　　In summary, the regulatory landscape for Harris Financial is concerning, as it operates without oversight from any recognized financial authority. Potential clients are strongly advised to consider these risks and explore regulated alternatives.

3. Trading Products and Services

　　Harris Financial claims to offer a diverse array of trading products, primarily focusing on forex trading. The broker purportedly provides access to numerous currency pairs, including major, minor, and exotic pairs, although specific numbers are not disclosed. In addition to forex, Harris Financial states that it offers Contracts for Difference (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies.

　　However, the exact categories of CFD products available have not been clearly outlined, leaving potential clients in the dark about the full range of trading opportunities. The broker also claims to frequently update its product offerings, but there is no evidence provided to substantiate this claim.

　　For retail clients, Harris Financial offers standard trading services, while institutional clients may benefit from specialized solutions. The broker does not appear to offer white-label solutions or asset management services, which could limit its appeal to larger institutional clients seeking comprehensive trading and investment solutions.

　　Overall, while Harris Financial presents itself as a comprehensive trading platform, the lack of transparency regarding its product offerings and the absence of regulatory oversight raises considerable doubts about its reliability and trustworthiness.

4. Trading Platforms and Technology

　　Harris Financial claims to support one of the most popular trading platforms in the forex industry, MetaTrader 5 (MT5). This platform is known for its advanced trading features, including algorithmic trading capabilities, comprehensive charting tools, and a user-friendly interface. However, the broker's claims about being a top MT5 broker are questioned due to the overall lack of credibility.

　　The availability of a proprietary trading platform is not mentioned, suggesting that Harris Financial may rely solely on MT5 for its trading services. The absence of a web-based trading platform or mobile applications for iOS and Android further limits accessibility for traders who prefer mobile or browser-based trading solutions.

　　Regarding execution models, Harris Financial does not clearly specify whether it operates on an ECN, STP, or Market Making model, leaving potential clients uncertain about the nature of trade execution. The lack of information about server locations and technological infrastructure also raises concerns about the reliability and speed of trade execution.

　　Furthermore, there is no mention of API access or support for automated trading, which could deter algorithmic traders looking for advanced trading solutions. Overall, while the broker claims to offer a popular trading platform, the lack of additional technological offerings and transparency diminishes its appeal.

5. Account Types and Trading Conditions

　　Harris Financial reportedly offers a minimum deposit requirement of $100, which is relatively low compared to other brokers. However, the specifics regarding standard account conditions, such as spreads and commissions, are not disclosed, making it difficult for potential traders to assess the overall cost of trading.

　　While the broker mentions the existence of advanced account types, such as VIP and professional accounts, details regarding these accounts are scarce. The absence of information about special accounts, such as Islamic accounts or corporate accounts, further limits the options for traders with specific needs.

　　The leverage offered by Harris Financial is stated to be up to 1:100, which is relatively conservative compared to other brokers that offer leverage as high as 1:500. The minimum trade size is not specified, and there is no clear policy regarding overnight fees or swaps, which are essential for traders to consider when holding positions overnight.

　　In summary, while Harris Financial presents itself as a broker with various account options, the lack of transparency regarding trading conditions and account specifications raises significant concerns about its reliability and value proposition.

6. Fund Management

　　Harris Financial claims to support several deposit methods, including bank transfers, credit cards, and digital wallets. However, specific details regarding the minimum deposit requirements for different account types are not provided. The processing times for deposits are also unclear, leaving potential clients uncertain about how quickly they can fund their accounts.

　　The broker does not disclose any deposit fees, which could be a concern for traders looking to minimize their costs. Furthermore, information about withdrawal methods and any associated limitations is lacking, making it difficult for clients to understand how they can access their funds.

　　Withdrawal processing times are also not specified, which is a critical aspect for traders who may need to access their funds quickly. The absence of a clear fee structure for withdrawals further complicates the financial aspects of trading with Harris Financial.

　　Overall, the lack of transparency regarding fund management practices and fees poses significant risks for potential clients considering Harris Financial as their trading broker.

7. Customer Support and Educational Resources

　　Harris Financial claims to offer customer support through various channels, including phone, email, and online chat. However, specific details about service hours and coverage across different time zones are not provided, which could affect the accessibility of support for international clients.

　　The broker does not specify whether it offers multilingual support, which could be a barrier for non-English speaking clients. Additionally, the availability of educational resources, such as webinars, tutorials, and eBooks, is not mentioned, leaving potential traders without guidance or learning materials to enhance their trading skills.

　　Market analysis services, including daily analysis, news updates, and research reports, are also not highlighted, which could limit traders' ability to make informed decisions. The absence of trading tools, such as calculators or signal services, further diminishes the overall support and resources available to clients.

　　In summary, while Harris Financial claims to provide customer support, the lack of detail regarding support availability and educational resources raises concerns about the overall quality of service provided to clients.

8. Regional Coverage and Restrictions

　　Harris Financial claims to serve a global client base; however, specific details regarding its primary service markets are not disclosed. The absence of information about regional offices or their distribution limits potential clients' understanding of the broker's operational reach.

　　Additionally, there is no mention of countries or regions from which Harris Financial does not accept clients, which is crucial for ensuring compliance with local regulations. The lack of clarity regarding special restrictions further complicates the decision-making process for potential clients.

　　Overall, while Harris Financial presents itself as a global broker, the lack of transparency regarding regional coverage and restrictions raises significant concerns about its operational legitimacy and client service capabilities.

　　In conclusion, while Harris Financial claims to be a comprehensive forex and CFD broker, significant doubts about its legitimacy, regulatory compliance, and overall transparency persist. Potential clients are strongly advised to exercise caution and consider regulated alternatives before engaging with this broker.