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HoldingFX Review - is it scam or safe?

HoldingFX Review - is holdingfx.com scam or good forex broker?

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Trading Accounts & Conditions

 

Trading Account Minimum deposit  Min. trade size Maximum leverage Average Spreads 
Forex and CFD $100 0.01 1:500 1.5 pips

 

HoldingFX offers its clients one basic forex and CFD trading account type, as well as a Binary options one.  The Forex account offers commission-free trading, leverage up to 1:500, variable spreads and the opportunity to trade micro lots on the MetaTrader 4 platform. The broker claims to provide No-Dealing-Desk (NDD) trading environment.

 

As anyone with some knowledge of the forex industry can see from the table above, there is nothing special about HoldingFX’s trading conditions:  the minimum deposit required and the variable spreads offered by this broker are average, and the maximum leverage is comparatively high, yet a number of brokers offer similar or higher ratios.

 

What is more important than a forex broker’s trading conditions is its regulation. Since people are going to invest their money in a company, it is essential that this company is licensed to provide financial services by a regulatory agency. So, in case something goes wrong, clients of the broker will be able to seek protection and/or compensation. Unfortunately, that is not the case with HoldingFX – this broker is unregulated.

 

The Company. Security of Funds

 

Company

Country

Regulation

HoldingFX Co., ltd. 

Vietnam?

N/A

 

As HoldingFX’s website is available in Vietnamese and English (and some of the content is exclusively in Vietnamese), we suppose it targets mainly Vietnamese investors. The broker offers a trading in currency pairs, CFDs on precious metals, commodities and a number of cryptocurrencies. Apart from the common Bitcoin and LiteCoin, the CFD product portfolio of HoldingFX also includes Ethereum, Dash, PeerCoin, and Emercoin.

 

The company operating the broker brand and website is HoldingFX Co., ltd. and obviously it operates without a forex broker license. We could not find any information about the headquarters of the company, there is no info about regulation, solely this odd statement:

 

“At HoldingFx we understand that successful investors are the ones who always give full attention to the transaction rather than worrying about the safety of their money.”

 

And it is quite the opposite really – those who pay attention only to transactions, instead of safety of their money, are the ones who are most likely to get scammed, not successful. All forex sites and forums are full of such examples: traders who have “earned” large profits on some fraudster’s platform, but when it comes to withdrawals, the broker suddenly disappears with the “successful” investor’s money.

 

There are a number of reputable and well-regulated brokerages licensed in Cyprus or in the UK, for instance, where traders have certain level of protection. We suggest that you select some of them and not risk your hard-earned money.

 

Trading Platform

 

As we have mentioned above, HoldingFX supports the renown MetaTrader 4 (MT4), desktop, and mobile versions available.

 

The MT4 is still the most popular currency trading platform, although it has been launched more than 10 years ago and its developer tries to persuade the whole industry that its successor, MetaTrader 5 is better. Probably the popularity of MT4 is due to is top notch charting is really good. Besides, the  MT4 also provides an easy to learn programming environment, which has resulted in the creation of multiple new indicators and automated trading systems.

 

 

HoldingFX’s demo MT4. Click on the image to zoom in.

 

Methods of Payment

 

Payment methods with HoldingFX are limited to bank wire transfer.

 

Conclusion

 

HoldingFX is another unregulated forex and binary options broker that supports the MT4. It seems to target mainly Vietnamese investors and offers common trading conditions. The main disadvantage of HoldingFX is the lack of reliability, as the broker operates without a license. Here are, in a nutshell, the pros and cons of HoldingFX:

                                                  

Pros  Cons
Competitive spreads and no commission Non-regulated broker
Many cryptocurrency CFDs available  Limited payment methods
MT4 available    

 

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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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Traders` reviews for HoldingFX

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