stub Hoo.com Exchange Review - Is it Legit? (November 2022)
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Hoo.com Review – Is it Legit? (November 2022)

Hong Kong Exchange With Current Potential Issues Regarding Withdrawals

Reviewed By |

Overall Rating

1/5

FAST FACTS

Fees: 0.2% Trading Fee

Best For: Low Market Cap

Warning: Trading in cryptocurrency is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

Hoo is a cryptocurrency exchange that has been in operation since 2017. The exchange is registered in Hong Kong and is often one of the first to list new tokens that are not yet traded on larger more popular exchanges. 

The exchange has recently been hit with allegations of not processing withdrawal requests.

Due to this we are rating this exchange a 1 out of 5.

We are requesting that Hoo.com management approaches us to offer proof that these issues have been rectified in order to improve this ranking.

Cons

  • Limited operating experience
  • Lack of data on regulation and licensing
  • Allegations of Not Processing Withdrawals

Trust

1/5

Due to current issues with traders not having withdrawals processed in a timely manner, we have lost all trust in this company.

Once this issue is rectified we will re-evaluate this ranking.

Customer Support

1/5

When it comes to customer support, Hoo provides a detailed FAQ section where traders can answer most questions. Additionally, there is a live chat feature that is available in both English and Chinese. 

For further support, traders can raise a ticket through the exchanges dedicated ticketing system and a member of the team will reach out to assist the user – This is what is stated on the website, but withdrawal requests are pending by many users.

Summary

1/5

We cannot in good faith recommend this exchange due to on-going issues with withdrawals of tokens.

We urge management or ownership to reach out to us, and to quickly resolve this situation. We will continue to escalate pressure on Hoo.com to process withdrawals as much as possible.

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ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

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