ANSWER HXFX Global is an unregulated broker and should be avoided at all events. HXFX Global states its establishment in 2010, however, it turned out to be nothing but a lie as we found that the broker's domain was just created in 2018. Any broker who makes statements contrary to the truth should be labeled as a suspicious scam. Besides, HXFX Global doesn't present company details like registration, physical office address and phone number, nor does it mention regulatory status. And this is always the most distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. Moreover, downloading its MT4 software, we found that HXFX Global is owned by HX Investments Limited, a liability located in Saint Vincent and the Grenadines. But we didn't find any result of this broker from the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA). Besides, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. Obviously, HXFX Global runs under no regulatory license. It means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. We would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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