Hybrid Reserve is a relatively new Forex broker, established in 2018. It is owned and operated by the company named SingleBell LTD, located in Kingstown, Saint Vincent and the Grenadines.
There is one thing we noticed at the very beginning. This broker has been on the market for almost three years. That’s not a long period of time and yet the majority of comments are negative. That's a very questionable thing and a massive red flag, so we are going to inspect every detail of HybridReserve business, to see if this broker is a legitimate one or not.
The biggest reason for negative comments is bad trading conditions as well as lack of important information. So many people complained they didn’t get the necessary info about funding and fees and all of them were negatively surprised once they wanted to withdraw money. That said, we will dedicate special attention to that, to make sure every information is transparent and visible to clients.
Platform and Execution SCORE: 90%
When it comes to platforms, we have to emphasize one thing. HybridReserve will allow you to see the platform before you even open an account. Unfortunately, this is not such a common thing, so we think it’s a very good detail that adds an additional plus to the service.
The platform is web-based, and you won’t have to download a single thing. This time, there is not a Meta Trader, it’s a completely unique solution. Although we love MT4 and MT5, we appreciate it when someone creates a different option.
To be honest, there are things we like and dislike as well. Luckily, things that do not fit our taste are related to the design and not the functionality of the platform. It’s responsive, it works without interruptions and you won’t have to worry about sudden errors. We spent some time on the platform and there are enough trading tools to cover even the pickiest traders. But there is one problem. The design is not user-friendly. Everything is arranged in small sections, there are too many unnecessary things that occupy the space and have an impact on the overall impression.
So, are we excited about this platform? Not exactly. Although it works just fine, the design is important to us. Some so many brokers offer unique and neatly done solutions and there is no reason to choose the one that cannot offer everything. But, if the design is not important to you, this will be more than enough. Anyhow, before you open an account, we advise you to visit the trading platform page and see if it fulfils your needs or not. That’s the best way to know if something is suitable without making additional steps and depositing money.
Account Type SCORE: 10%
Unfortunately, this is a part where we completely understand all those complaints from dissatisfied customers. It’s not possible to get any information about accounts and trading conditions. You can search the whole website, but there is not a single thing that covers this topic.
Needless to say, we are looking for a transparent broker, not the one who will hide crucial information from its clients. So, we cannot discuss this part at all since there is not a single piece of information. Not even from customer support, which is a huge problem.
Withdrawal Speed SCORE: 40%
We are a bit afraid that we won’t be able to tell you much about transactions either. This is not a transparent broker and we understand that, but we had no idea things are like this. What we can say is that the minimum withdrawal requirement is 100 USD/GBP/EUR and there is a minimum trading amount (turnover) that has to be reached before you request a withdrawal. That turnover is determined from the total amount of all deposits you placed.
There is also one other thing that we find questionable — the minimum trading period is one month from the date of the initial deposit. So, in order to request a withdrawal, you need to wait that long. If you choose a Credit Card as a withdrawal method, there is no fee. But if you go with Wire Transfer, you have to pay $25.
The processing time is a bit long since their service needs four business days just to review your request. After that, they need up to ten business days to add money to your bank account. Overall, you will wait approximately three weeks to receive your money, but if we consider how questionable the service is, it could happen that you do not receive money at all.
Support and Assistance SCORE: 10%
To be fair, all those negative comments you can find online are reasonable. People are complaining about things this broker hides and at the beginning, we were sceptic about it. Well, now we share the same thoughts as those people because there is not a single thing that’s properly explained on the website.
The main problem we have with that is the lack of customer support. If you visit the Contact Us page, there is an online form, phone number and email. Customer representatives should be there for you 24 hours 5 days a week which is great. But, in reality, everything is different. We sent a message asking for some explanations about account types and guess what, we were left without a reply. So, we did a little research and realised that this broker newer answered to anyone. So, customer support is just a formal thing, created to make the website look better. You cannot count on it or ask for help because there is nobody willing to assist you and help you solve potential problems.
Education and Tools SCORE: 10%
Just like account types, the education section is nonexistent. There is not a single article that covers topics about trading, you won’t be able to learn something new or improve your knowledge and skills. To us, this is unacceptable because there is not a single chance to be successful if you do not learn regularly.
We believe that there is no need to talk about the importance of good education because each Forex broker knows that, especially an experienced one. If you deposit money, you have a right to ask for something in return. That something is good trading conditions and proper education. In this case, nothing is available so you will be depositing money without getting anything. That’s not how the Forex market works and if you are a new trader who is just starting its journey, you should learn that as soon as possible. Overall, we are very disappointed with this part about education. We do not ask for free video lessons and eBooks, but in this case, even if you become a registered client you won’t get that, and if you ask us, that’s a big problem.
To conclude everything, we can say this is a rather unprofessional website that cannot offer you proper trading conditions and security. After all, we are talking about an unregulated broker who is most likely a scam. That said, you need to be aware of the risk you are involving if you decide to open an account at Hybrid Reserve. There is no insurance for your money and if something goes wrong your money will probably vanish without any possibility for a return.
That’s exactly why we have to recommend you find another broker that will respect your time and money. This is the only way to avoid risks and trade with a feeling of peace on your mind. Apparently, Hybrid Reserve is not a broker that will provide you anything, especially not good conditions and safe trading.