HyperForex group includes 2 related companies.
HyperForex MY - located in Malaysia, regulated by the Labuan Financial Services Authority (LFSA).
HyperForex SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
HyperForex group accepts clients from all over the world, excluding USA and some FATF sanctioned countries.
Forex broker offers the following underlying assets for trading.
|50+ Currency Pairs||Based on major and minor world currencies.|
|5 Crypto Pairs||Based on Bitcoin, Ethereum, Litecoin, Ripple.|
|11 Indice CFDs||Based on baskets of different blue-chip stocks.|
|5 Metal CFDs||Based on Gold, Silver and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|10+ Stock CFDs||Based on shares of US companies.|
Headquartered in Malaysia and regulated in the offshore-like jurisdiction Labuan, HyperForex is a relatively new forex & CFD broker that was established as recently as in 2017.
In Malaysia, the broker is regulated by the Labuan Financial Services Authority (LFSA), a regulator that is known to take more of a hands off approach than typical “onshore” regulators. However, HyperForex has still found it necessary to open a separate branch in the traditional offshore jurisdiction Saint Vincent and the Grenadines (SVG). As usual in SVG, the branch located there is completely unregulated by the government, and traders should therefore know that they are using it at their own risk.
As far as trading products goes, HyperForex is a classic CFD broker that offers trading in everything from cryptocurrencies, to stock indices, commodities, and a small selection of single stocks listed in the US. In addition, the broker of course also offers traditional forex trading in more than 50 major and minor currency pairs.
All assets are traded with leverage going as high as 1:1,000 on the most liquid forex pairs like the EUR/USD. For indices, commodities, and other more volatile assets, however, leverage is as always considerably lower.
All of the assets offered by HyperForex can be traded on the MetaTrader 4 (MT4) platform, which is the only trading platform that the broker offers. As usual, however, the platform is available in the standard downloadable version for Windows computers, in addition to separate versions for use on Mac computers and on Apple and Android mobile devices.
After signing up with the broker, all new clients will have to choose which account type to go with. With HyperForex, there are three types to choose from: Basic, Standard, and VIP. All of these accounts are typical STP (straight through processing) style accounts that offer commission-free trading by instead charging higher spreads than what an ECN-type of account would normally do.
As would be expected, the lowest spreads are available on the VIP account, while the Basic account has the highest spreads. In order to sign up with the Basic, Standard, and VIP accounts, a minimum balance of USD 0, USD 1,000, and USD 10,000, respectively, applies.
All trading accounts with HyperForex can be funded with all the usual payment methods, such as Visa, MasterCard, Neteller, Skrill, and bank wire transfer. In addition, however, this broker also accepts the Chinese mobile payment app AliPay, in addition to the popular cryptocurrencies Bitcoin, Litecoin, and Ethereum.
Lastly, HyperForex’s customer service is available via live chat and a Singapore-registered phone number, open 24 hours a day on all trading days. This is something we always value, and makes HyperForex stand out from many other small and mid-sized brokers without a large global presence.
All in all, it is clear that HyperForex has a firm grip on its local market in Malaysia, although we are unsure of how wide their reach is outside of their home market. One disadvantage with this broker, however, is the lack of regulation, given that both Labuan in Malaysia and Saint Vincent and the Grenadines have a bit of a questionable reputation when it comes to forex broker regulations.
I trade here for several months and already recommended to my friends. Kind customer service, fast, stable.
Oh I never though Hyperforex is rated by FX-List! Im using this broker, it is good!