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HFGFX -

Score

2.01 /10
Danger

HFGFX

United Kingdom

Stoppage of Business

5-10 years

Regulated in Belize

Common Financial Service License

MT4 Full License

Regional Brokers

Suspicious Overrun

High potential risk

Offshore Regulated

http://www.hfgfx.com

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Comparison

Quantity 61

Exposure

Open Account
Website

Score

Regulatory Index3.05

Business Index7.39

Risk Management Index0.00

Software Index7.02

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

HonorFalcon Global Limited

Company Abbreviation

HFGFX

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-09-20
  • This broker bas been verified to be stoppage of business, and it has been listed in WikiFX's Stoppage of Business list. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 54 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

61 pieces of exposure in total
Pyramid scheme complaint
Expose
Resolved

Illegal trading in HFGFX

The platform only allows losses, which is so mean.

2020-03-24 23:49
Others

Dead market

Why the market was dead in my account, which hadn’t occurred in other platforms? It is restrained?

2020-04-02 14:19
Resolved

Unable to withdraw

The illegal platform only allows losses and gives no s to withdrawal. The customer service is out of contact.

2020-03-25 09:28
Unable to Withdraw

Unable to withdraw

It is simply a gang of fraud. I deposited 20 thousand dollars and profited 70 thousand. When it came to withdrawal, both the sales manager Chen and Zhang Jinyu were out of contact. No service dealt with my email. Actually, there is no such person named in TongHai company. Take heed on it.

2020-07-29 19:05
Others

Slippage with HFGFX

The slippage in HFGFX was up to 1000 pips, causing forced liquidation.

2020-04-03 16:56
Others

HFGFX has withdrawn from Chinese market

The system began to get stuck these 2 days. I didn’t know that HFGFX would withdraw from Chinese market.

2020-04-03 10:54
Resolved

Garbage

As long as I made profits, the platform would claim that I violated the rules. Thus, the withdrawal is unavailable.

2020-03-25 20:45
Unable to Withdraw

Unable to withdraw

Unable to withdraw. The photos of the business manager Mr. Chen and the trader Zhang are attached below. They didn’t answer any messages and calls when they appeared online on WhatsApp. It was my first investment from which I was scammed USD 20,000. I lost all my capital. I hope other investors can take the warning.

2020-07-11 15:28
Others

When making profits, I couldn’t close position due to a stuck system, causing losses.

When making profits, I couldn’t close position due to a stuck system, causing losses.

2020-04-12 10:57
Unable to Withdraw

Unable to withdraw profits in scam platform

I deposited 2000 and profited 3284, while the customer service rejected my withdrawal request in bad manner.

2020-03-20 18:33
Others

Rule-breaking operations

The promotion is not genuine. The platform prohibited clients from closing position quickly and locked clients’ accounts inexplicably, paltering with the problem of system stuck.

2020-03-25 17:30
Unable to Withdraw

Unable to withdraw in HFGFX

I contacted with HFGFX in last June through FX 110. The customer service asked me to add WeChat and lobbied me to open account. As it was ranked first on FX 110, I deposited fund into 2 accounts, while the trading became unavailable on 10:00 AM. After inquiring the customer service, I was informed that I had violated the rule. Now $9845.62 balance is unavailable. Hope you punish this scam platform severely! Thank you!

2020-03-20 09:57
Resolved

Illegal trading

As long as I made profits, the platform would claim that I had violated the trading rule.

2020-03-25 01:35
Others

After causing forced liquidation, the broker withdrew form the market.

After causing forced liquidation, the broker withdrew form the market. The customer service gave no response.

2020-04-03 12:06
Unable to Withdraw

Unable to withdraw

Take heed on this 2 frauds. They induced me to deposit 20 thousand yuan. After I profited 70 thousand and wanted to make a withdrawal, they disappeared. The saleswoman names Zhang Jinyu. The are both online on WhatsAPP, but gave no reply to withdrawal process. I caution you against it.

2020-07-13 16:40
Others

Risk on HFGFX

I have been trading in HFGFX . But there is a stuck system since this year. In recent one month, HFGFX has suspended the trading on XAU/USD with the reason of lowering the risk. I know it was an abracadabra since the price difference is $2, sometimes only $1. For example, at 22:20 on April 2nd, the price difference was higher than $2.3, then it suddenly soared after 22:26, making the gap into $1. Then the trading was banned.

2020-04-03 10:58
    HFGFX · Company summary

    Note:HFGFX's official website:http://www.hfgfx.com is currently inaccessible normally.

    AspectInformation
    Company NameHFGFX
    Registered Country/AreaUnited Kingdom
    Founded Year2018
    RegulationFSC(Exceeded),FCA(Revoked)
    Trading PlatformMT4/5
    Customer SupportPhone:4000920177,4000177336(Chinese)

    HFGFX Information

    Established in 2018 and with headquarters in the United Kingdom, HFGFX runs under FSC control (Exceeded.). The business provides a complete license for the trading systems MT4/5. For customer service, they offer Chinese-speaking clients phone assistance using the numbers 4000177336 and 40009 20177.

    HFGFX Information

    Is HFGFX Legit or a Scam？

    FSC
    		Financial Services Commission(FSC)
    Current StatusExceeded
    Regulated byFSC
    License TypeNo Sharing
    License No.IFSC/60/528/BCA/19
    Licensed InstitutionKATO PRIME BELIZE LIMITED
    FCA
    		Financial Conduct Authority(FCA)
    Current StatusRevoked
    Regulated byFCA
    License TypeAppointed Representative(AR)
    License No.807949
    Licensed InstitutionHonorfalcon(UK)Global Ltd

    Downsides of HFGFX

    Cons
    Limited information on the webstie
    Lack of transparency
    Regulatory concerns
    Unable to withdrawal
    1. Limited Information: HFGFX presents limited details on its operations, services, and trading conditions, which makes it difficult for potential clients to have a complete awareness of the company.
    2. Lack of clarity: Important elements like firm policies and cost structures clearly lack clarity, therefore eroding trust.
    3. Exceeded regulation:Though the FSC (Exceeded) controls this, there are questions over the dependability and efficacy of this regulatory control.
    4. Unable to Withdraw: Clients have complained about problems withdrawing their money, which calls serious questions regarding the dependability of the business and financial policies.

    Negative HFGFX Reviews on WikiFX

    On WikiFX, “Exposure” is listed as user-generated word of mouth.

    Traders encouraged to review content and assess risks before dealing on prohibited platforms. Regarding connected details, kindly consult our platform. Report dishonest brokers in our Exposure section; our team will strive to resolve any issues you come across.

    There were 63 overall pieces of HFGFX exposure as of right now. I'll mention two of them.

    Exposure.1 Unable to withdraw

    ClassificationUnable to Withdraw
    DateJuly 9, 2020
    Post CountrySingapore

    The client claimed that HFGFX is a fake business, pointing out that they couldn withdraw their $20,000 deposit and that no one answered their emails following a profit of $70,000.You may visit:

    https://www.wikifx.com/en/comments/detail/202007294212667287.html

    Exposure.2 Dead Market

    ClassificationDead Market
    DateApril 2nd, 2020
    Post CountryHong Kong,China

    While other accounts traded without issue, the client claimed their account displayed no market movement, a shortcoming particular to this platform.You may visit:

    https://www.wikifx.com/en/comments/detail/202004021472312352.html

    Conclusion

    Selling using HFGFX appears dangerous. Clients have complained about things including lack of openness, account limits, and withdrawal difficulties. To guarantee a safe trading experience, one should pick well-regulated brokers who offer open, honest information.

    User Reviews

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    User comment

    2

    Comments

    Write a review

    bgcgcvgh
    more than one year
    Lately, I've noticed significant lags on HFGFX's trading platform. Just found out they're exiting the domestic market today. Disappointing experience; hoping for improved performance until their exit.
    Lately, I've noticed significant lags on HFGFX's trading platform. Just found out they're exiting the domestic market today. Disappointing experience; hoping for improved performance until their exit.
    Translate to English
    2023-12-20 21:30
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    大风歌19239
    more than one year
    This broker is the worst broker in the whole world, very dubious and manipulative. I want to close my account but there is no email reply on all pending cases i have once opened.
    This broker is the worst broker in the whole world, very dubious and manipulative. I want to close my account but there is no email reply on all pending cases i have once opened.
    Translate to English
    2023-03-03 11:06
    Reply
    0
    0
    61