HMS is the commercial name of the financial company HMS LUX S.A. It was founded in 1972 and currently is regulated by the Commission de Surveillance du Secteur Financier Luxembourg (CSSF) under licence number 35/14. The company announces it is an ‘inter-dealer brokerage firms servicing banks, hedge funds, active traders and investors across the globe.’
Customers have access to over 140 currency pairs (spots, forwards and options), more than 100 futures contracts (including bonds, interest rates, precious metals, energy products and agriculture ones), global indices and over 12,000 global shares. The average spread for the EUR/USD pair is 2 pips, which is currently a relatively high value. The minimum initial deposit amount is EUR1,000 or equivalent.
‘HMS Online Trading Luxembourg’ is the online trading division of HMS LUX, which provides connectivity to the international financial markets through its electronic trading platforms, HMS TraderPro and HMS TraderGo. HMS TraderPro is a desktop application that integrates into one place live streaming prices, technical analysis tools, and research features. HMS TraderGO is a web-based terminal that is also available for iOS and Android devices.
Unfortunately, there are not many legal documents available on the website. The Risk Warning document informs that ‘because of the low margin normally required in margin trades, price changes in the underlying assets may result in significant losses, which may substantially exceed your investment and margin deposit,’ so there is a warning for lack of negative balance protection. There are no documents regarding the order execution policy and whether the company is a counterparty to every order of its customers. We can only speculate that because of the company’s partnership with Saxo Bank (trading platforms are the same), HMS Markets acts as a market maker and stop loss orders are not guaranteed. We recommend a more in-depth research if you decide to open a live account with HMS Markets.