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HighQFX Review – is it scam or safe?

HighQFX Review – Is www.highqfx.com scam or safe forex broker?

RATING: 2 / 0 REVIEWS HighQFX
HighQFX is an offshore broker. Your money is not safe.

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 Trading accounts

 

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Silver $500 0.01 lots 1:200 3 pips
Gold $2500 0.01 lots 1:200 3 pips
Platinum $10 000 0.01 lots 1:200 2 pips
Diamond $30 000 0.1 lots 1:200 2 pips

 

HighQFX is a forex, CFD and binary options broker that has four types of live trading accounts, plus a swap-free Islamic account with a minimum deposit of $2000 and specific leverage, no commissions and no rollover fees.

 

The accounts Gold, Platinum and Diamond come with a HighQ card that lets clients withdraw funds with no fees and that can be used as a regular debit/credit card for payments and withdrawal from ATMs.

 

We could not find a free demo account.

 

 

The Company. Security of Funds

 

Company Country Regulation
 HighQ Holdings Ltd SVG No

 

 

HighQFX is an offshore forex broker based on the St. Vincent and the Grenadines, which is a very popular destination among unregulated forex brokers, as it offers lucrative business conditions like no corporate tax, no questions asked and lax regulation.

 

There are many forex brokers based in this country and some of them often feature in regulator warnings and client complaints, so one should always proceed with extreme caution when dealing with them. Preferably, they should be avoided and clients should seek regulated brokers, like those supervised by UK's FCA, for example.

 

Trading platforms

 

Like most smaller forex brokers, HighQFX offers trading on just one platform – MetaTrader 4 (MT4). It is the platform of choice for brokers and traders alike and has been on the market since 2005 and its creator MetaQuotes Software has recently made the first steps towards phasing it out in favor of its successor MetaTrader 5.

 

The MT4 is a stable and user friendly platform. It supports hedging, expert advisors and provides many technical analysis and charting tools.

 

Promotions

 

The broker gives welcome bonuses on some of the trading accounts, namely Diamond and Platinum. They can reach up to 30% of the deposited sum, but are subject to many conditions.

 

Methods of payment

 

HighQFX accepts client deposits through credit and debit cards, and wire transfer, as well as with the online payment systems Neteller and Skrill.

 

 

Conclusion

 

HighQFX is an unregulated offshore forex broker based on the St. Vincent and the Grenadines. This offshore zone is notorious for its practically absent requirements and regulations.

 

This is a very good reason for any potential client to be very cautious and avoid dealing with brokers registered there, as there is practically no protection for their clients – neither requirements for keeping client funds in segregated accounts, nor membership in a compensation scheme and clients are left at the good will of the brokers. We have no reason to believe that HighQFX is fraudulent, but extra caution is always advisable.

 

 

Pros Cons
MT4 Unregulated
Own debit card High spreads

 

Latest news about HighQFX
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Traders` reviews for HighQFX

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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