Overview of HTFX
HTFX is a well-established forex broker based in the UK, regulated by both FCA and CySEC. With a minimum deposit of $50 and maximum leverage of 1:500, it offers competitive spreads starting from 0 pips.
Traders can access MetaTrader4 (MT4) and MetaTrader5 (MT5) platforms, trading various assets like Fx, metals, commodities, cryptocurrencies, and stocks. HTFX provides Standard, Cent, and ECN account types, along with a demo account option.
Customer support is available via email and a website request form. Deposits and withdrawals can be made through Tether, Skrill, Bank Transfer, Bitcoin, Fasapay, and Neteller. Traders also benefit from educational resources like the Economic Calendar.
Is HTFX legit or a scam?
HTFX is a regulated forex broker, supervised by two regulatory agencies: the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. The broker operates under Straight Through Processing (STP) license types, ensuring transparency and efficient order execution for its clients. HTFX's FCA license number is 822279, while its CySEC license number is 332/17.
Being regulated by these reputable authorities signifies compliance with stringent financial and operational standards, providing traders with a level of confidence and security in their trading activities with HTFX.
Pros and Cons
HTFX, as a regulated forex broker under the supervision of both the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, offers several advantages. It provides a low minimum deposit of $50, competitive maximum leverage of up to 1:500, and tight spreads starting from 0 pips.
Traders can access the popular MetaTrader 4 and MetaTrader5 platforms, and choose from a variety of tradable assets. The broker offers three account types to cater to different trader preferences, along with a demo account for practice. Additionally, HTFX provides responsive customer support and multiple deposit and withdrawal options. However, the channels of customer support is a limitation.
Market Instruments
HTFX offers a diverse range of trading products to its clients, including:
1. Forex: Access to a wide selection of currency pairs, allowing traders to participate in the foreign exchange market and trade the value of one currency against another.
2. Metals: The opportunity to trade precious metals like gold, silver, platinum, and palladium. These metals are often considered safe-haven assets and can be used for diversification purposes.
3. Commodities: Engage in trading various commodities such as crude oil, natural gas, agricultural products, and more. These commodities offer exposure to global economic trends and geopolitical developments.
4. Indices: Access to major stock market indices from around the world, enabling traders to speculate on the overall performance of specific stock markets.
5. Energy: Trade energy products like crude oil and natural gas, which are heavily influenced by supply and demand dynamics and geopolitical factors.
6. Cryptocurrencies: The opportunity to trade popular cryptocurrencies like Bitcoin, Ethereum, Ripple, and others. Cryptocurrencies are known for their high volatility, providing potential for substantial price movements.
7. Stocks: Access to a diverse range of individual company stocks, allowing traders to invest in specific companies and participate in their performance in the financial markets.
By offering a wide array of trading products, HTFX provides its clients with the flexibility to explore various financial markets and implement different trading strategies based on their preferences and market outlook.
Account Types
HTFX offers three types of trading accounts to cater to different trader preferences.
The STANDARD ACCOUNT requires a starting deposit of $50 and provides access to a wide range of trading instruments, including Fx, Metals, Commodities, Indices, Energy, Cryptocurrencies, and Stocks. Traders can use Expert Advisors (EAs) and trade with leverage of up to 1:500. The account features overnight swap fees, but there are no commissions, and the spreads start from 1.5 pips.
For traders looking for smaller starting deposits, the CENT ACCOUNT also requires $50 to begin trading. It offers similar features to the Standard Account, including access to Fx and Metals instruments, the option to use EAs, and leverage of up to 1:500. The account also incurs overnight swap fees, but like the Standard Account, there are no commissions charged, and spreads start from 1.5 pips.
For those seeking a more advanced trading experience, the ECN ACCOUNT requires a higher starting deposit of $500. It grants access to a broader range of instruments, including Fx, Metals, Commodities, Indices, Energy, Cryptocurrencies, and Stocks. Traders can utilize EAs and enjoy the benefit of tighter spreads starting from 0 pips.
However, this account does have a commission of $7 per lot traded. Similar to the other accounts, the ECN ACCOUNT has a leverage of up to 1:500 and incurs overnight swap fees.
How to Open an Account?
To open an account with HTFX, follow these general steps:
1. Visit HTFX's official website: Go to the HTFX website using a web browser.
2. Account Registration: Look for a “Register” or “Open an Account” button on the homepage or in the main menu. Click on it to start the account registration process.
3. Choose an Account Type: HTFX may offer different types of accounts, such as standard, mini, or Islamic accounts. Select the account type that suits your trading needs.
4. Fill out the Registration Form: Complete the required registration form with your personal information, including your name, email address, phone number, and country of residence.
5. Submit Required Documents: In accordance with regulatory requirements, you may need to provide additional documents for account verification, such as a copy of your passport or driver's license, and proof of address.
6. Fund Your Account: Once your account is successfully registered and verified, you'll need to deposit funds into your trading account. HTFX offers various deposit methods, including credit/debit cards, bank transfers, and eWallets.
7. Download Trading Platform: If not done automatically during the registration process, you may need to download the trading platform provided by HTFX. They may offer popular platforms like MetaTrader4 (MT4) or MetaTrader5 (MT5).
8. Start Trading: After funding your account and setting up the trading platform, you can begin trading by analyzing the markets, placing orders, and managing your positions.
with HTFX. Additionally, remember to read and understand all terms and conditions before proceeding with any trading activities.
Leverage
HTFX offers a maximum leverage of up to 1:500. This generous leverage allows traders to control larger positions with a relatively smaller amount of capital. However, it is essential for traders to exercise caution and carefully consider their risk tolerance, as higher leverage also amplifies potential losses. Traders should use leverage responsibly and implement risk management strategies to protect their capital during trading activities.
Spreads &Commissions
HTFX provides competitive spreads starting from 0 pips for certain account types, allowing traders to access favorable pricing in the forex market. Additionally, the broker offers commission-free trading for its Standard and Cent accounts. However, for traders using the ECN account, there is a commission of $7 per lot traded. The tight spreads and commission structure aim to offer cost-effective trading conditions for clients while providing transparency in trading costs.
Trading Platform
HTFX offers its clients access to two popular and widely-used trading platforms, MetaTrader4 (MT4) and MetaTrader5 (MT5). Traders can access these platforms on both Windows desktop and iPhone mobile devices. To download the mobile app, users can simply scan the provided QR code or download the APK file.
MetaTrader4 (MT4) is a powerful and user-friendly platform that allows traders to execute trades, analyze the markets, and implement various trading strategies. With a range of technical indicators and charting tools, traders can conduct in-depth market analysis and make informed trading decisions.
MetaTrader5 (MT5) is an advanced platform that builds upon the features of MT4, providing additional capabilities, such as access to more financial instruments and improved order execution. This platform caters to the needs of experienced traders who seek more complex trading functionalities.
Deposit & Withdrawal
HTFX offers a variety of payment methods, including Tether, Skrill, bank transfer, Bitcoin, Fasapay, and Neteller. These options provide flexibility and convenience for clients to fund their trading accounts securely and efficiently.
Customer Support
If you have any questions or concerns, HTFX provides dedicated customer support to assist you. You can reach out to them by sending an email to support@htfx.com.
Alternatively, you can submit your request, and the team will get in touch with you. To do so, provide your name, email, phone number, and details of your enquiry.
Educational Resources
HTFX provides traders with access to an Economic Calendar, a valuable tool that offers daily updates on market trends, market volatility alerts, and economic releases. This calendar assists traders in staying informed about important events and economic indicators that can impact financial markets. By utilizing the economic calendar, traders can make more informed and well-timed trading decisions based on fundamental data and market developments. It serves as a useful resource for traders to plan and execute their trading strategies effectively.
Accepted Countries
HTFX only accepts traders from the United States, Canada, and the United Kingdom. The company does not offer its services to citizens/residents of other countries or jurisdictions at this time.
Conclusion
HTFX presents itself as a regulated forex broker, holding licenses from the reputable Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC).
With a diverse array of tradable assets, including forex, metals, commodities, indices, energy, cryptocurrencies, and stocks, HTFX caters to various trading preferences. Traders can select from three distinct account types, featuring leverage up to 1:500 and access to the powerful MetaTrader4 (MT4) and advanced MetaTrader5 (MT5) platforms.
The broker offers competitive spreads and commission-free trading for specific accounts, though it is crucial to note the $7 commission per lot for ECN accounts and the $50 minimum deposit requirement. While educational resources mainly comprise an economic calendar, traders are encouraged to weigh these aspects thoughtfully before engaging with HTFX.
FAQs
Q: What regulatory agencies oversee HTFX?
A: HTFX is regulated by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, ensuring compliance with strict financial standards.
Q: What trading platforms does HTFX offer?
A: HTFX provides access to both MetaTrader4 (MT4) and MetaTrader5 (MT5) platforms.
Q: What are the tradable assets on HTFX?
A: HTFX offers a diverse range of tradable assets, including forex, metals, commodities, indices, energy, cryptocurrencies, and stocks.
Q: Are there different types of trading accounts available?
A: Yes, HTFX offers three account types: Standard Account, Cent Account, and ECN Account.
Q: What is the minimum deposit required to open an account with HTFX?
A: The minimum deposit for HTFX accounts is $50.
Q: What is the maximum leverage available on HTFX?
A: The maximum leverage on HTFX is up to 1:500.
Q: Does HTFX charge commissions on trades?
A: HTFX offers commission-free trading for Standard and Cent Accounts, while ECN Accounts have a commission of $7 per lot traded.
Q: How can I contact customer support at HTFX?
A: You can reach HTFX's customer support team via email at support@htfx.com or by submitting a request form available on their website.