Buzz
This article helps you:
- Understand the pros and cons of the HXFX trading platform
- Determine if HXFX is trustworthy
HXFX Platform provides customers with access to the MetaTrader4 platform and 3 types of accounts for trading various assets. In the article below, Mytour will address whether HXFX platform is trustworthy.
Is HXFX reliable?
Advantages of HXFX Platform
Rhino Smart Pty Ltd, a subsidiary of HXFX Global Corporation, is registered as an authorized representative (AR) of a brokerage firm licensed by the Australian Securities and Investments Commission (ASIC).
Additionally, another subsidiary, HXFX Global Investments Limited, has been licensed by the Vanuatu Financial Services Commission (VFSC) to act as a securities agent. VFSC mandates that licensed entities must not commingle client funds with company funds.
Exploring HXFX Platform
MT4 Trading Platform
HXFX platform supports the MetaTrader 4 (MT4) trading platform. This trading platform provides charting capabilities and enables the development of custom indicators (MQL) and automated trading systems (Expert Advisors).
In addition, MT4 also supports multi-platforms, including desktop applications, web versions, and Android and iOS apps.
Spread Levels
The spread level on HXFX is - 1.5 pips for EUR/USD for the most basic account type. This means both brokers and traders benefit from high profitability.
Up to 1:500 Leverage
Another notable feature of HXFX platform is the leverage ratio of up to 1:500. However, it's important to note that high leverage can also lead to quick losses. Therefore, you should thoroughly understand the associated risks to minimize them.
Drawbacks of HXFX platform
As mentioned earlier by Mytour, HXFX Global platform acts as the authorized representative (AR) of a brokerage firm licensed by the Australian Securities and Investments Commission (ASIC). However, ASIC does not take responsibility for platforms operating beyond their jurisdiction.
Similarly, the requirements of VSFC for trading platforms are quite lax, even lacking supervision. This means that customer funds and brokers are not guaranteed safe in the event of any mishap.
Is HXFX a scam?
Is HXFX trustworthy? Is it a scam or fraudulent?
HXFX Global is a forex broker not regulated by reputable financial authorities. Furthermore, the trading platform's website lacks essential information such as CEO details, address, etc. Therefore, Mytour advises thorough research before considering investment or trading on the HXFX platform.
This article by Mytour provides an introduction and answers your question about the credibility of HXFX platform. Additionally, if you have any further inquiries or questions such as which Forex platforms are the most reliable, feel free to leave your comments below the article for discussion.
