HXFX Global Forex Broker

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Information Registered Country/Region United Kingdom Found 2010 Regulation Suspicious clone Market Instrument Forex Share, Index, Commodity, and Cryptocurrency Account Type Mini, Standard and Senior Demo Account yes Maximum Leverage 1:500 Spread Vary on the account type Commission N/A Trading Platform MT4 Minimum Deposit $20 Deposit & Withdrawal Method Malaysian banks and Help2pay HXFX Global is a global forex broker with three financial institutions, Rhino Smart Pty Ltd, HXFX Global Investments Limited, and HX WORLDWIDE COMPANY LIMITED. HXFX Global itself does not hold any reliable regulatory license. Here is the home page of this brokers official site: Safety Analysis of HXFX Global After investigation, it is clear that although the three financial institutions under HXFX Global hold different regulatory licenses, HXFX Global itself does not hold any valid license, which means that HXFX Global is an unregulated brokerage platform, and the safety of investors' funds and trading activities on the HXFX Global platform cannot be effectively protected. Therefore, it is best for investors to stay away from this HXFX Global Forex broker. Note: The screenshot date is February 10, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments HXFX Global provides investors with 40+ trading products, mainly Forex (20+ currency pairs, major currency pairs such as EUR/USD, USD/JPY and GBP/USD), Share, Index, Commodity, and Cryptocurrency. Account Types Apart from demo accounts, HXFX Global offers investors three different types of real trading accounts: Mini (minimum deposit of $20), Standard (minimum deposit of $50), and Senior (minimum deposit of $2,000). Leverage The leverage is capped at 1:500. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads The spread on the HXFX Global platform is 1.5 pips on the EURUSD for Mini accounts, 1.3 pips on the EURUSD for Standard accounts, and 1.1 pips on the EURUSD for Senior accounts. Trading Platform HXFX Global offers traders the most popular MT4 trading platform available today, with unparalleled charting tools and an environment for developing custom indicators, and an automated trading system (EA). The HXFX Global trading platform is available in various formats and versions - desktop download, web browser, Android & iOS mobile app. Deposit & Withdrawal HXFX Global only supports deposits from Malaysian banks and Help2pay for deposits to investment accounts. HXFX Global charges a $3 fee for single deposits of less than $50, a 6% fee if the transaction margin amount is less than 50% of the deposit amount and a 5% withdrawal fee from the fourth withdrawal within 24 hours. Customer Support HXFX Globals customer support can be reached 24/5 by telephone: 120852310 (Vietnam), 12280875 (Viettel network), +84-2844581687, 1800819320 (Malaysia), 180016530003 (Philippines), +84-2844582358 (VN, Fees required), +60-1800819625 (MA, Fees required), email: cs@hxfxglobal.com, Zalo and WhatsApp. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Pros & Cons Pros Cons • Wide range of trading instruments • The absence of any valid license itself • Demo accounts available • Regional restrictions • Minimum account deposit acceptable ($20) • Limited funding options • MT4 supported • High withdrawal fees Frequently Asked Questions (FAQs) Q 1: Is HXFX Global regulated？ A 1: No. Vanuatu Financial Services Commission (VFSC) and National Futures Association (NFA) licenses are both suspicious clones. Q 2: At HXFX Global, are there any regional restrictions for traders？ A 2: Yes. The information on HXFX Globals website is not intended for residents of the United States, nor is it intended for use in any country or jurisdiction where distribution or use would violate local laws and regulations. Q 3: Does HXFX Global offer demo accounts？ A 3: Yes. Q 4: Does HXFX Global offer the industry-standard MT4 & MT5？ A 4: Yes. HXFX Global supports MT4. Q 5: What is the minimum deposit for HXFX Global？ A 5: The minimum initial deposit to open an account is $20. Q 6: Is HXFX Global a good broker for beginners？ A 6: No. HXFX Global is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations. Take care!