hx Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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hx with yellow and blue label was the same fraud. After depositing the fund, I was blocked directly. The 400 and 100 thousand click for download was counterfeit. Pay attention to it!
In this comprehensive review of HX, we delve into the various aspects of this forex broker, highlighting both its potential advantages and significant drawbacks. The overall sentiment from user experiences and expert analyses leans heavily towards caution, with many sources indicating that HX may not be a trustworthy platform for trading. Critical findings include concerns over its regulatory status and user complaints regarding withdrawal issues.
Note: It's important to recognize that HX operates under different entities in various regions, which raises additional concerns about its legitimacy. This review aims to provide a fair and accurate assessment based on the latest available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Regulatory Compliance | 1 |
We evaluate brokers based on user feedback, expert opinions, and factual data collected from various sources.
Founded in an undisclosed year, HX operates out of the United Kingdom and claims to be regulated by the Financial Conduct Authority (FCA). However, this claim is heavily disputed, as multiple sources indicate that HX may be a clone firm, lacking legitimate regulatory oversight. The broker primarily offers trading through the popular MetaTrader 4 (MT4) platform and claims to provide access to a variety of asset classes, including forex pairs and stocks. However, the absence of a functional website and numerous user complaints raise serious questions about its operational legitimacy.
HX claims to operate under FCA regulation; however, this assertion is met with skepticism. Many reviews label it as a "suspicious clone," indicating that traders should be very cautious when considering this broker. The lack of transparency regarding its regulatory status suggests that potential clients may be at risk.
While specific details on accepted currencies were scarce, it is noted that HX allows for deposits in cryptocurrencies. This may appeal to some traders, but it also raises flags due to the untraceable nature of such transactions.
The minimum deposit requirement for HX appears to be around $500, which is relatively high compared to more reputable brokers that offer lower entry points for new traders.
HX has been reported to offer various bonuses, but the legitimacy of these promotions is questionable. Many users have expressed concerns that such offers often come with unattainable conditions, making it difficult to withdraw funds.
HX claims to provide a range of trading options, including forex and stocks. However, the actual availability of these instruments is uncertain, with some users reporting that the trading platform is often non-functional.
Information regarding spreads and commissions is limited, with many sources indicating a lack of transparency in this area. This ambiguity can lead to unexpected costs for traders, which is a significant drawback.
Leveraging options at HX are not explicitly stated in the reviews, but high leverage is often a double-edged sword, capable of amplifying both profits and losses. The absence of clear information on this aspect further complicates the decision-making process for potential traders.
HX primarily utilizes the MT4 platform, which is widely respected in the trading community. However, the effectiveness of this platform is undermined by reports of frequent glitches and a lack of support.
The reviews did not specify any particular regions where HX is restricted, but given its questionable regulatory status, it may be wise for traders from heavily regulated jurisdictions to avoid this broker.
Customer service appears to be limited, with support primarily offered in Chinese. This could pose challenges for non-Chinese speaking users seeking assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Regulatory Compliance | 1 |
Account Conditions (2/10): The high minimum deposit and lack of clarity regarding account types make HX less accessible for novice traders.
Tools and Resources (3/10): The broker claims to offer a diverse range of trading tools, but user experiences suggest that these tools are often unreliable or unavailable.
Customer Service and Support (4/10): While customer support exists, the language barrier and limited availability can hinder effective communication.
Trading Setup (Experience) (3/10): Users report frequent issues with the trading platform, which detracts from overall trading experience.
Trustworthiness (1/10): The claims of regulation by the FCA are disputed, and many sources categorize HX as a potential scam.
User Experience (2/10): Overall user feedback is overwhelmingly negative, with many citing withdrawal issues and poor customer service.
Regulatory Compliance (1/10): The lack of legitimate regulatory oversight raises significant concerns about the safety of funds and the broker's operational legitimacy.
In conclusion, the findings from various sources paint a concerning picture of HX as a forex broker. Potential traders are advised to conduct thorough research and consider more reputable, regulated alternatives before engaging with HX. The risks associated with trading through an unregulated broker can far outweigh any potential benefits.
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