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HTFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-06 17:09

Abstract：HTFX is allegedly a forex broker registered in Australia, yet with the company behind it undisclosed to all. HTFX offers two trading accounts to choose from, access to MT4 trading platform. With lack of regulatory information, funds are not safe.

　　Note: HTFX's official website: https://hightopfx.com/ is currently inaccessible normal.

HTFXReview Summary
Founded	2023
Registered Country/Region	Australia
Regulation	ASIC (Suspicious clone)
Market Instruments	Cryptos, Forex, Indices
Demo Account	✅
Leverage	Up to 1:400
EUR/USD Spread	0.3 pips
Trading Platform	MT4
Min Deposit	A$1 000
Customer Support	Email: service@htfx.com.au

　　HTFX is allegedly a forex broker registered in Australia, yet with the company behind it undisclosed to all. HTFX offers two trading accounts to choose from, access to MT4 trading platform. With lack of regulatory information, funds are not safe.

　　HTFX claims ASIC regulation but is flagged as a suspicious clone. ASIC is responsible for regulating financial activities in Australia. HTFX offers two account types, Standard and Advanced, with different minimum deposits and potential benefits. Leverage options range from 1:100 to 1:400.

Pros and Cons

Pros	Cons
Support MT4	Unregulated
Lower spreads	Inaccessible website
Support demo accounts	High minimum deposit
	Limited contact channels

Is HTFX Legit?

　　HTFX claims to be regulated by the Australia Securities & Investment Commission (ASIC) with license number 332890. However, it has been detected as a suspicious clone.

Regulatory Status	Suspicious Clone
Regulated by	Australia Securities & Investment Commission (ASIC)
Licensed Institution	Neptune Securities LTD
Licensed Type	No Sharing
Licensed Number	332890

　　It is advisable to exercise caution and avoid engaging with this broker.

　　Investing with unregulated entities can carry significant risks, including potential fraud, loss of funds, and lack of recourse in case of disputes.

　　It is generally recommended to choose regulated brokers that are authorized by reputable regulatory authorities.

What Can I Trade on HTFX?

　　HTFX offers limited trading asset classes, only cryptos, forex, and indices, other popular trading products such as stocks, cryptocurrencies, etc. are not available.

Tradable Instruments	Supported
Cryptos	✔
Forex	✔
Indices	✔
Stocks	❌
Cryptocurrencies	❌
Bonds	❌
Options	❌
Mutual Funds	❌
ETFs	❌

Account Type

　　HTFX offers two trading accounts: Standard and Advanced.

　　The minimum initial deposit for the Standard Account is AUD$1,000, and the Advanced accounts require AUD$50,000.

Leverage

　　HTFX offers leverage up to 1:400. It is important to note that high leverage means high potential returns, but it also means high risk.

Spreads

　　HTFX claims to offer low spreads, but without being able to register a real account, we cannot verify the actual spreads for live trading. However, the demo EUR/USD spread is mentioned as favorable at 0.3 pips.

Trading Platform

　　HTFX offers the MetaTrader 4 platform to its clients, which is a widely recognized and popular trading platform in the forex industry. It allows users to access real-time market data, analyze charts, use technical indicators, execute trades, and even automate trading strategies through its built-in programming language (MQL).

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Web	Beginners
MT5	❌	/	Experienced traders

Deposit and Withdrawal

　　The broker accepts Alipay EFT, and UnionPay.

　　The minimum initial deposit is 1000 Australian dollars, around 8 times higher than the sum regulated brokers asks from the traders on average- 100 US dollars.

　　The standard withdrawal requests are free of charge, but the extra ones cost 30 Australian dollars.

　　HTFX claims to process withdrawal requests within 3 days.