HunterFx Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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I want to thank you Hunter Forex, for it helps me improve my trading strategy at least, although its spreads were extremely high. I think it could be a better broke if it can improve its customer service.
Summary: Hunterfx has garnered significant scrutiny and negative feedback from various sources, primarily due to its unregulated status and questionable business practices. Key findings indicate that the broker lacks transparency, offers high spreads, and is associated with numerous complaints regarding fund withdrawals.
Note: It is crucial to recognize the discrepancies among various entities operating under the Hunterfx name, as this can impact the overall assessment of the broker's legitimacy. The following review aims to provide a fair and accurate evaluation based on available information.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding each broker's offerings and regulatory compliance.
Founded in 2018, Hunterfx is an offshore brokerage that has faced significant criticism for its lack of regulatory oversight and transparency. The broker claims to provide access to a range of trading instruments, including forex, commodities, and cryptocurrencies, primarily through the MetaTrader 4 (MT4) platform. However, it has been noted that the broker operates without a valid license, raising serious concerns about the safety of client funds and the legitimacy of its services.
Regulatory Status: Hunterfx operates without any regulatory oversight, which is a significant red flag for potential investors. The broker claims to be based in Bulgaria, yet there is no record of it being licensed by the Bulgarian Financial Supervision Commission. According to WikiFX, the broker has been flagged for its suspicious business practices, making it a risky choice for traders.
Deposit/Withdrawal Methods: Hunterfx reportedly supports various deposit methods, including cryptocurrencies and bank transfers. However, the lack of clarity regarding withdrawal processes and fees has been a common complaint among users. Many have reported difficulties in withdrawing funds, often citing high fees and evasive communication from the broker.
Minimum Deposit: The minimum deposit requirement for opening an account with Hunterfx is reportedly set at $100. This amount is relatively low compared to many regulated brokers, but given the broker's unregulated status, it poses a higher risk to potential investors.
Bonuses/Promotions: Hunterfx has been noted for offering various promotional bonuses, which are typically a tactic used by unregulated brokers to attract clients. Such offers often come with hidden conditions that can complicate withdrawals and overall trading experience.
Asset Classes: The broker claims to offer a diverse range of trading instruments, including forex pairs, commodities, and cryptocurrencies. However, the lack of transparency regarding the actual availability of these assets raises questions about the broker's credibility.
Cost Structure: The cost of trading with Hunterfx appears to be unfavorable, with spreads reported to be as high as 7 pips for major pairs like EUR/USD. This is significantly higher than the industry average, which could eat into traders' profits.
Leverage: Hunterfx does not clearly specify leverage ratios on its website, which is another point of concern. High leverage can be a double-edged sword, amplifying both potential profits and losses. Therefore, traders should exercise caution, especially with an unregulated broker.
Trading Platforms: Hunterfx claims to use the MT4 trading platform, which is well-regarded in the industry. However, the absence of a functioning registration process on their website raises doubts about the actual availability of this platform for users.
Restricted Regions: The broker does not provide clear information regarding restricted regions, but given its unregulated status, it is likely that it operates in a manner that may not comply with various jurisdictions' regulations.
Customer Support Languages: Hunterfx offers customer support primarily in English and Chinese. However, many users have expressed dissatisfaction with the response times and quality of support provided, further diminishing trust in the broker.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: The account types offered by Hunterfx lack clarity and transparency, which is a significant drawback. The absence of competitive features or benefits further diminishes the appeal of trading with this broker.
Tools and Resources: Hunterfx does not provide adequate trading tools or educational resources, making it difficult for new traders to develop their skills or strategies effectively.
Customer Service and Support: Multiple sources, including ScamWatcher, indicate that customer service is lacking, with slow response times and unhelpful support staff being common complaints.
Trading Experience: The trading experience with Hunterfx is marred by high spreads and potential withdrawal issues, making it less than ideal for traders looking for a reliable platform.
Trustworthiness: Given the broker's unregulated status and numerous complaints, it is rated very low in trustworthiness. Traders should be extremely cautious when considering this broker.
User Experience: The overall user experience is reported to be poor, with many users experiencing issues with the platform and customer support.
In conclusion, the Hunterfx review indicates that potential clients should proceed with extreme caution. The lack of regulation, high trading costs, and negative user experiences suggest that this broker may not be a safe choice for trading. Always consider opting for regulated brokers that offer more security and transparency in their operations.
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