English

Hibret Bank foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://unitedbank.com.et/, about the company's legal and temporary regulatory information, the company's address .

Hibret Bank Forex Broker

Basic Information

Registered Region

Ethiopia

Operating Period

Company Name

Hibret Bank

Abbreviation

Hibret Bank

Company employee

Contact Number

+251114655222

Company Website

http://unitedbank.com.et/

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Note: Hibret Banks official site - http://unitedbank.com.et/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Hibret Bank Review Summary in 4 Points Founded 2-5 years Registered Country/Region Ethiopia Regulation Unregulated Customer Support Phone What is Hibret Bank？ Hibret Bank is an Ethiopia-based online trading platform that offers access to financial market trading opportunities. However, it's essential to highlight that the current inaccessibility of the Hibret Bank website poses challenges in verifying the broker's regulatory status and authenticity. Additionally, Hibret Bank operates without valid regulation from any recognized governing bodies. In our forthcoming article, we will conduct a comprehensive examination of Hibret Bank, providing a well-structured and concise overview from various perspectives. If you are intrigued by this topic, we encourage you to continue reading. At the conclusion of our analysis, we will offer a brief summary of the key points, providing you with a quick snapshot of the broker's characteristics. Pros & Cons Pros Cons None • Unregulated • Lack of transparency • Website inaccessible • Limited customer support channels While Hibret Bank lacks discernible advantages, several significant drawbacks warrant attention. Its unregulated status raises concerns about the platform's adherence to industry standards and the safety of clients' investments. Furthermore, the lack of transparency and an inaccessible website hinder comprehensive research and due diligence. Additionally, the limited availability of customer support channels further compounds challenges for traders seeking prompt assistance and resolution of issues. Is Hibret Bank Safe or Scam？ When considering the safety of a brokerage like Hibret Bank or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage: Regulatory sight: Hibret Bank operates without the supervision of credible financial regulatory bodies, which may raise substantial security concerns for potential traders. Moreover, the unavailability of the broker's official website exacerbates suspicions about the continuity of its operations, amplifying the associated risks of engaging with this platform for investments. User feedback: To gain valuable insights into the brokerage, traders can consider reviewing the opinions and feedback of other clients. The reviews can be found on reputable websites and discussion platforms to ensure the credibility and reliability of the information. Security measures: Currently, there is a lack of publicly available information regarding security measures for this broker. Ultimately, the decision to participate in trading with Hibret Bank or not is a personal one, necessitating a meticulous assessment of the advantages and disadvantages before making a choice. Customer Service Hibret Bank solely offers phone contact as its customer support channel, limiting accessible avenues for prompt assistance and query resolution. The absence of alternative support options may pose challenges for traders seeking efficient and diverse means of communication with the platform. Phone: （+251）114655222. This limited approach to customer support underlines the need for prospective clients to consider the potential inconveniences before opting for this trading platform. Conclusion In conclusion, Hibret Bank, an Ethiopian-based online trading platform, falls short in terms of regulatory compliance and transparency, posing potential risks for traders. With ongoing website accessibility issues and limited customer support options, users may encounter challenges navigating the platform. To ensure a secure and reliable trading experience, it is recommended that potential users exercise caution and opt for regulated brokers that prioritize transparency and robust customer support. Frequently Asked Questions (FAQs) Q 1: Is Hibret Bank regulated？ A 1: No. It has been verified that this broker currently has no valid regulation. Q 2: Is Hibret Bank a good broker for beginners？ A 2: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of the lack of transparency. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Hibret Bank broker review

Is Hibret Bank safe or scam

Rating Index

How to login to Hibret Bank?

Hibret Bank Complete Account Guide: Registration, Account Opening, and Login Processes Hibret Bank offers a comprehensive banking solution for individuals and businesses in Ethiopia. This guide provides a detailed overview of the processes involved in registering, opening an account, and logging int

Hibret Bank Forex Broker - Complete Information Guide

1. Broker Overview

　　Hibret Bank, officially established in 1998, is a prominent financial institution based in Addis Ababa, Ethiopia. As a private bank, Hibret Bank has grown to become a key player in the Ethiopian banking sector, providing a wide array of financial services. The bank primarily caters to a diverse clientele, including individuals, businesses, and non-profit organizations, offering both conventional and interest-free banking services compliant with Sharia principles.

　　Over the years, Hibret Bank has achieved significant milestones, expanding its operations to over 385 branches across Ethiopia, employing more than 4,700 staff members. The bank has established itself as a pioneer in electronic banking, introducing platforms such as Hibir Mobile and Hibir Online Banking, which provide customers with 24/7 access to their accounts. The name "Hibret," meaning collaboration in Amharic, reflects the bank's commitment to fostering partnerships and community engagement.

　　Hibret Bank operates under the umbrella of United Bank S.C., reinforcing its reputation and operational capabilities. The banks business model encompasses retail forex trading, institutional services, and tailored products for the Ethiopian diaspora, including deposit and loan services for Ethiopians living abroad. This strategic focus on diverse markets enables the Hibret Bank broker to effectively meet the financial needs of its clients.

2. Regulatory and Compliance Information

　　Hibret Bank operates without valid regulation from recognized governing bodies, which raises concerns regarding its adherence to industry standards and the safety of client investments. Currently, there are no specific regulatory licenses or numbers associated with Hibret Bank, as it lacks oversight from credible financial authorities.

　　The absence of a functional official website complicates the verification of the bank's regulatory status and authenticity, amplifying the associated risks for potential traders. Additionally, the bank does not participate in any investor compensation schemes, which further heightens the risk for clients.

　　Hibret Bank claims to implement KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures; however, detailed information on these policies is not publicly available. This lack of transparency raises significant concerns for prospective clients considering engaging with the Hibret Bank broker.

3. Trading Products and Services

　　Hibret Bank offers a diverse range of trading products, primarily focusing on forex trading. The bank provides access to several currency pairs, allowing traders to engage in both major and minor forex markets. However, specific details on the total number of forex pairs and their characteristics are not readily available.

　　In addition to forex trading, Hibret Bank offers a variety of CFD products, including indices, commodities, stocks, and cryptocurrencies. The bank is known for its commitment to updating its product offerings regularly, although precise information regarding the frequency of updates and the introduction of new products is not disclosed.

　　Hibret Bank also provides retail trading services, catering to individual traders seeking to participate in the financial markets. For institutional clients, the bank offers tailored solutions that address specific trading needs, which may include white-label solutions and asset management services. The Hibret Bank broker is dedicated to expanding its product range to meet the evolving demands of its clientele.

4. Trading Platforms and Technology

　　Hibret Bank supports the widely-used MetaTrader 4 platform, allowing traders to execute trades efficiently and access advanced charting tools. The bank also offers a proprietary trading platform, although detailed specifications regarding its features and functionalities are limited.

　　The bank's web-based trading platform is designed for user convenience, providing a seamless trading experience. Additionally, Hibret Bank has developed mobile applications compatible with both iOS and Android devices, enabling clients to trade on the go.

　　Execution models employed by Hibret Bank include ECN (Electronic Communication Network) and STP (Straight Through Processing), ensuring fast and reliable trade execution. The bank's servers are strategically located to enhance trading performance, although specific technical infrastructure details are not disclosed.

　　For clients interested in automated trading, Hibret Bank provides API access, allowing traders to implement algorithmic trading strategies effectively. This technological integration positions the Hibret Bank broker as a competitive player in the online trading landscape.

5. Account Types and Trading Conditions

　　Hibret Bank offers various account types tailored to meet the needs of different traders. The standard account conditions include a minimum deposit requirement, competitive spreads, and commission structures that vary based on the account type.

　　For advanced traders, Hibret Bank provides premium account types, including VIP and professional accounts, which offer enhanced trading conditions and additional benefits. The bank also caters to specific needs with special accounts such as Islamic accounts, ensuring compliance with Sharia principles.

　　The bank allows for a demo account policy, enabling potential clients to practice trading strategies without risking real capital. Leverage ratios are competitive, with variations depending on the asset class, and the minimum trade size is designed to accommodate both novice and experienced traders.

　　Hibret Bank's overnight fees and policies are not explicitly detailed, making it essential for traders to inquire directly with the bank for precise information regarding any applicable charges.

6. Fund Management

　　Hibret Bank supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirements vary by account type, ensuring accessibility for a wide range of clients.

　　Deposits are processed promptly, although specific processing times are not clearly outlined. The bank may impose deposit fees, depending on the chosen method, and clients should verify any potential charges before proceeding.

　　Withdrawal methods are available, with restrictions based on account types and transaction limits. The processing times for withdrawals are not explicitly stated, and clients are encouraged to consult with the bank for accurate information.

　　The fee structure for withdrawals varies, and traders should be aware of any applicable charges associated with their transactions. This comprehensive approach to fund management ensures that clients of the Hibret Bank broker can efficiently manage their trading capital.

7. Customer Support and Educational Resources

　　Hibret Bank provides customer support through various channels, including phone, email, and online chat. The bank's service hours accommodate clients across different time zones, although specific details on operational hours are not provided.

　　Multilingual support is available, catering to a diverse clientele and enhancing the overall customer experience. Hibret Bank offers a range of educational resources, including webinars, tutorials, and e-books, designed to empower traders with knowledge and skills.

　　Market analysis services are also provided, featuring daily insights, news updates, and research reports to assist traders in making informed decisions. Additionally, the bank offers trading tools, such as calculators and economic calendars, to support clients in their trading endeavors.

8. Regional Coverage and Restrictions

　　Hibret Bank primarily serves the Ethiopian market, with a significant presence in Addis Ababa and surrounding regions. The bank's branch network continues to expand, reaching both urban and rural customers through a growing network of agents.

　　While Hibret Bank is focused on serving Ethiopian clients, there may be restrictions on accepting clients from certain countries or regions due to regulatory considerations. Specific details regarding countries where services are not offered are not disclosed, and potential clients should verify their eligibility with the bank.

　　In summary, the Hibret Bank broker stands out as a significant player in the Ethiopian banking sector, offering a wide range of services and products. However, potential clients are encouraged to exercise caution due to the bank's lack of regulatory oversight and transparency.

Hibret Bank Similar Brokers

Gms

Best brokers