HWFX Forex broker specializes in providing foreign exchange trading services, the company's official website https://hwfx.eu, the company's legitimate regulatory information CyprusCYSECStraight Through Processing (STP), to enhance the security of the company's address .
HWFX Forex Broker
Basic information
Cyprus
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
General Information & Regulation
HWFX is an STP CFD Broker that features on its spanading platform CFDs on Forex, Spot metals, shares, indices. HWFX is a subsidiary company of Holiway Investments Lspan, a corporation that is regulated and overseen in Cyprus by the CySEC. This company also runs 10tradeFX, a broker with an almost identical offer to HWFX. HWFX is a trading name of Holiway Investments LTD, a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 248/14.
Market Instruments
Financial assets can be traded on the HWFX platform include 37 currecncy pairs, spot metals (gold and silver), 13 shares, 10 indices.
Minimum Deposit
There are three accounts options available offered by HWFX, namely the Silver account (deposit from $200), the Gold account (deposit from $200) and the Platinum account (deposit from $200). The minimum initial requirement of $200 sounds affordable for most regular traders. Min. trade size for all three accounts is 0.1 lot.
HWFX Leverage
With leverage, it is able to tick that check box as it is offering a 1:30 maximum leverage cap. Since the company is located in the EU, this is the standard leverage amount for CFDs due to ESMA regulations.
Spreads & Commissions
Like any other CFD brokers, HWFX charges s spread fee. The spread on EURUSD start from 1.5 pips which is within the range of industry standards. But there are still more brokers with more competitive spreads. Besides, HWFX does charge monthly 15 USD monthly for dormant accounts that has been consecutive inactive for over 90 days. Please see the following spread comparison span that contrasts HWFX spreads with popular industry competitors:
Trading Platform
For FX and CFD trading, HWFX offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to 62 trading instruments. HWFX supports hedging and according to the broker, the average trade execution time is 85 millisecond.
Deposit & Withdrawal
Traders are allowed to deposit and withdraw fund into and from their accounts via Bank Wire, Neteller, Skrill, Nganluong and 4Cash. When it comes to withdrawals though there is also a minimum cap of $100, which is unfortunately yet a disadvantage.
Rating Index
HWFX Similarly Rated Brokers
Latest Reviews
红苹果
New Zealand
HWFX is registered in Cyprus, but its CYSEC regulatory license is fake. I heard that the license issued by this agency used to be very reliable, but it has become less and less strict in recent years.
Positive
2023-03-02
临沂晨昊文化传媒有限公司
Morocco
I always met technical issues on this platform, session automatically off all the time. but they did not let their technical guys to help me out. What’s more, spreads were insanely high, much higher than most brokers’ offerings. I do think this is a bad broker, and I want more people know that don’t trade with it. Don’t use this broker.
Neutral
2023-03-20