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In my experience as a forex trader, I approach any broker with a critical eye toward regulation and ongoing oversight, and HCFX raises several caution flags for me. While HCFX is based in the UK and was formerly regulated by the FCA with both a Payment License and an Investment Advisory License, these licenses are now marked as "Exceeded." For me, the absence of valid, current regulatory oversight is a major concern, especially in a sector where trust and fund safety depend heavily on active supervision by reputable authorities like the FCA. When a license is labeled "Exceeded," it generally means the firm no longer holds that particular authorization, which could affect client protections and dispute resolution options. Another issue I’ve noted is the broker's specialized focus on institutional services, such as FX hedging and treasury management for larger clients. This specialization may leave retail traders without the resources or transparency that they might expect from a mainstream broker. I also noticed alerts about a 'Suspicious Scope of Business' and 'Suspicious Overrun,' alongside a 'medium potential risk' profile, which further reinforces my need for caution. Transparency is another area where I personally find HCFX lacking; the available information does not provide the level of operational clarity I prefer before entrusting any significant funds. Ultimately, for me, the risk of engaging with HCFX stems largely from the lapse in regulatory licenses and the resulting uncertainty about the firm's compliance standards and fund security. Given these factors, I would be very careful and would prioritize brokers with active, reputable regulation and a clear record of client protection.