Assessment of Halyk Finance Company
The company Halyk Finance positions itself as a well-known brokerage firm with 17 years of experience in financial markets. According to official information, it is the first investment bank in Kazakhstan with a BBB rating and 56 awards. The organization claims to have an impeccable reputation. However, actual client reviews leave no doubts – many claim that the platform is focused on attracting funds rather than helping to earn. A comprehensive investigation will help understand the reasons for client dissatisfaction and clarify what this organization really represents.
Study of the Halyk Finance Website
Halyk Finance is not only oriented towards the Kazakh audience, its website is available in three languages – Kazakh, English, and Russian. Reviews from traders in the Russian Federation indicate the company’s active presence in the territory of the Russian Federation.
An analysis of the domain registration date showed that it was created back in 2011, indicating that the project is indeed long-standing. During the analysis of the website’s history, several design changes were discovered, but the resource has always belonged to Halyk Finance.
The portal provides information on senior management, development plans, and a list of awards received over the years of operation. The initial impression may be favorable, but caution should be exercised and details should be studied. User reviews will help to get an idea of the real situation within the company.
Legal Basis of Operation
Halyk Finance is based in Kazakhstan. The official legal address and contact information of the company are provided on the website, including the address, email, phone, and social media pages (used for self-promotion and expert reviews).
Based on the information provided, Halyk Finance is a subsidiary of the National Bank of Kazakhstan, which is the sole shareholder of the company. The company has also obtained a license from the National Bank of Kazakhstan. However, according to users, these formalities do not guarantee the company’s honesty. Despite the license, the company is accused of deceit and the inability to withdraw funds.
It is important to note that when choosing a broker, one should comply with the legislation of the respective jurisdiction. In the Russian Federation, Halyk Finance operates outside the law, violating the requirements of Forex law No. 460-FZ. The company is not registered as a legal entity in Russia and is not among the licensed brokers of the Central Bank of the Russian Federation.
An examination of the company’s internal documents shows that the company disclaims responsibility for investors’ losses. Therefore, if faced with financial losses on this platform, you will not be able to seek compensation.
Services for Potential Clients
Halyk Finance promises to protect clients’ interests in financial markets. Educational programs on stock market trading are offered to beginners. Experienced traders are promised successful deals with stocks and bonds. The company also engages in research, underwriting, consulting, and issuer analysis.
Information on tariffs is absent on the company’s website. Not even the minimum deposit amount is specified. The only mention is to consider exchange commissions when topping up:
- For transactions on AIX, KASE, the exchange commission is 0.10% (for transactions from 5 thousand tenge).
- For transactions with assets on the unorganized exchange, the commission will also be 0.10% (total transaction volume from 7,000 tenge).
- For specialized transactions on KASE and AIX, exchange costs are also 0.10%.
The choice of payment methods is limited, and information on withdrawal, regulations, and commissions is absent in the FAQ section on the website.
Company Reviews
There are few reviews on the internet about Halyk Finance company, but those available are negative. Traders express dissatisfaction with the cooperation results, particularly regarding payment issues. Withdrawing funds from the platform becomes a problem.
Trader Deception Scheme
Halyk Finance operators will take advantage of their illegal activities in the Russian Federation. They lure traders with promises of lucrative cooperation and availability of educational materials. Each investor is assigned a personal manager who provides advice on capital growth. In practice, the situation amounts to a loss of the deposit.
The company bears minimal responsibility for false analyst recommendations and does not intend to compensate for financial losses. Seeking justice will be difficult, as users must agree to the User Agreement containing conditions favoring the company upon registration on the website.
Conclusions on Halyk Finance
Halyk Finance is a cunning player from Kazakhstan operating illegally in Russia and not striving for honest cooperation with local traders. It deceives beginners with limited financial and legal knowledge. If you lose money on their platform, you will not be able to seek help. Users deceived by the company raise concerns in reviews and try to warn others. Do not fall for the tricks of scammers seeking your capital.
I have had a very disappointing experience with Halyk Finance. After being attracted by their seemingly favourable terms, I quickly realised that the actual trading conditions were far less favourable than initially portrayed. The staff was not only unprofessional but also provided me with false information on a number of occasions. There were hidden fees that I was not informed about until after I made transactions, significantly impacting my financial calculations. The platform was also slow and frequently glitched, making trading more difficult than it should have been. Their educational resources were superficial and unhelpful for anyone trying to deepen their trading knowledge. Simply put, the service provided by Halyk Finance was not up to the mark and below the industry standards! I would not recommend it to anyone.