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Is HTX regulated?
Mike
Norfolk Island
Jan 28, 2023
ANSWER HTX is not a reliable broker for traders even though it states offers that look good to be true.HTX claims it was established in 2017, headquartered in London with strict supervision under the UK Financial Conduct Authority (FCA), the Australian Securities & Investments Commission (ASIC), the Japan Financial Services Agency (FSA), the Central Bank of Ireland (CBI), and the National Futures Association (NFA) under NFA ID: 0552935.But first, when we checked its domain, we found it was created in 2022. So how could it start its business in 2017? It is a red flag here. Second, we did not find any match results to this broker in FCA, ASIC, Japan FSA, or CBI. Third, we indeed found a matching result in NFA's registry, however, HTX is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers' activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, HTX doesn't satisfy these conditions. The truth is, HTX is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like HTX and trade with licensed brokers.
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