Tier1FX

Tier1FX Broker Overview

Tier1FX is the online brokerage brand of Hogg Capital Investments Limited, a Maltese investment firm based in Lija, incorporated in August 1995 and authorised by the Malta Financial Services Authority (MFSA). It presents itself as a pure agency broker with STP and DMA execution and says it does not benefit from client losses. Clients trade forex, spot metals and commodities, index CFDs and crypto CFDs on MetaTrader 4 or a Tier1FX build of JForex, from a minimum initial deposit of 1,000 EUR or USD, with commission charged on every trade.

Tier1FX Regulation and License

Hogg Capital Investments Limited holds an Investment Firm authorisation from the MFSA. When the MFSA Financial Services Register was checked on 29 October 2026, the authorisation read Licence Authorised, with an issue date of 26 September 1995 and no end date, and the entry linked the firm to two websites, tier1fx.com and www.hoggcapital.com. The register prints no separate licence number and identifies the firm by its Malta company number, C 18954, which is also the number Tier1FX quotes. The services it lists are dealing on own account, execution of orders on behalf of clients, reception and transmission of orders, portfolio management, investment advice, placing of instruments without a firm commitment, and trustee, custodian or nominee services, each open to retail clients, professional clients and eligible counterparties, with contracts for differences covered under each. Tier1FX's Customer Agreement describes the company as a Class II investment firm authorised under Malta's Investment Services Act and states that Tier1FX does not act as principal in its clients' transactions.

Is Tier1FX Regulated?

Yes. Tier1FX is the brand of an investment firm authorised by the MFSA, as the regulator's own register confirmed on 29 October 2026. The same register entry shows a second authorisation, for passporting services outside Malta, also reading Licence Authorised; Tier1FX says it is authorised to passport its services to all EU countries, and its homepage lists registrations with Spain's CNMV, Germany's BaFin and France's AMF. It does not serve every country: its site says it takes no clients from the United States and its territories, Japan, Turkey or India, and its online application refuses residents of 33 countries, among them the United States, Iran, North Korea, Cuba, Syria and Ukraine.

Hogg Capital Investments Limited

Hogg Capital Investments Limited is the company clients contract with: the Customer Agreement calls Tier1FX its foreign exchange division and the branded offering of its online brokerage division, while the company's own site, hoggcapital.com, presents its investment advisory and portfolio management business. Its registration as Malta company C 18954, incorporated on 17 August 1995 with its registered address at Nu Bis Centre, Mosta Road, Lija LJA 9012, was confirmed on 29 October 2026 from the MFSA Financial Services Register and the company's GLEIF LEI record. Tier1FX's website terms of use also name a second company, Hogg Capital Management Limited, as the company for which Tier1FX, Tier1 and T1 are trade names and as owner of the website's copyright, without giving a registration number or place of incorporation for it.

Is Tier1FX Safe?

Tier1FX is run by an MFSA-authorised firm, which brings Maltese client-money rules and investor compensation, but trading CFDs with it is high-risk: its own risk warning states that 64.15% of retail investor accounts lose money when trading CFDs with the provider. Its Customer Agreement says client money is held in segregated client custody accounts, off the company's balance sheet, but money it passes to a service provider as margin is no longer treated as held or controlled by Tier1FX, and the firm accepts no liability if that provider fails. Hogg Capital Investments Limited participates in Malta's Investor Compensation Scheme, which can pay eligible investors 90% of a claim, up to EUR 20,000, if the firm cannot return their money or instruments; certain professional and institutional investors are excluded, and the scheme does not cover trading losses.

For retail clients, the agreement says Tier1FX will credit a negative balance back to zero rather than seek payment, while professional clients and eligible counterparties must repay negative equity. The same section makes clients holding several accounts cover negative equity in one account from equity in the others, and clause 22 states that a client is always liable for any deficit balance on demand. The agreement also lets Tier1FX correct trades executed at off-market prices whether the client gained or lost, close an account and withhold gains it judges to come from prohibited activity, which it says includes arbitrage, and change its trading rules with immediate effect. Errors must be reported in writing within 24 hours, and a client who objects to an amendment by email is treated as giving notice of termination and must close all open positions, unless Tier1FX agrees within 48 hours to waive the amendment. The MFSA warned on 6 January 2022 about a look-alike site, tierl-fx.com, that it said has no association with the company, and Tier1FX itself warns that www.tierl-fx.com, spelled with a letter l in place of the digit 1, is a fraudulent clone of its website.

Tier1FX Account Types

Tier1FX offers a single live trading account in EUR or USD, with a minimum initial deposit of 1,000 EUR or USD (its FAQ says EUR 1,000 or the equivalent in another currency) and no minimum for later top-ups. Expert advisors, hedging and scalping are allowed, the minimum trade is 0.01 lots, and a separate live account is needed for each platform. The Custodian Account, for larger clients, keeps the money in cash in the client's own account at a European partner bank under a tripartite agreement with the bank and Tier1FX, with profit and loss reconciled onto it daily, and requires CHF 250,000 or the equivalent. Managed accounts and demo accounts, valid for 60 days and extendable on request, are also offered, but there is no swap-free account.

Tier1FX Spreads, Commissions and Fees

Spreads are variable, and the broker's accounts page advertises an average EURUSD spread across all sessions as low as 0.2. Commission is charged per side: on EUR accounts, 2.50 EUR per standard lot on forex, 3.00 EUR per lot on commodities and 0.25 EUR per contract on CFDs; on USD accounts, 2.75 USD, 3.25 USD and 0.30 USD respectively; crypto CFDs cost 0.10% of the notional value on both. That is the schedule for direct retail clients, and the Customer Agreement adds that Tier1FX is paid through commission and a mark-up on the raw spread it receives from its liquidity providers, that its commission can vary from client to client, and that it may take part in mark-ups and commissions requested by introducing brokers. There is no maintenance fee, but accounts inactive for more than a year may be charged a dormant-account fee of 20 USD, EUR or GBP a month, and accounts inactive for over six months become read-only. A currency conversion on an internal transfer between accounts is priced at 500 points over the spot FX rate on the fees page, while the FAQ quotes a conversion fee of 50 basis points.

Tier1FX Leverage

The maximum leverage in Tier1FX's trading conditions is 1:200, and the broker states that leverage is subject to client categorisation and European regulatory limits, so the level available depends on whether a client is classed as retail or professional. Positions are stopped out at a 50% margin level for retail clients and at 100% for other clients. The Customer Agreement lets Tier1FX alter leverage limits for professional clients at its discretion and change the liquidation level, with a new level applying to all open positions as soon as it is published.

Tier1FX Trading Platforms

Clients choose between T1-MT4, the broker's MetaTrader 4 offering for Windows, with a Fortex WebTrader for web trading and MetaTrader apps for iOS and Android, and T1 JForex, a Tier1FX build of Dukascopy's JForex linked to Swiss FX Marketplace liquidity, available for Windows, Mac, the web, iOS and Android. The broker also lists the Fortex platform (Fortex 6 on its platforms page, Fortex 5 in its download centre) and FIX API access through Fortex Direct FIX, opened on request, including a bridge that lets MetaTrader 4 expert advisors trade through a FIX API account.

Tier1FX Deposits and Withdrawals

Bank wire is the only funding method. Deposits must come from, and withdrawals go back to, a bank account in the client's own name, and third-party payments are refunded. Tier1FX charges no deposit fee of its own, while each withdrawal costs 20 USD, 15 EUR or 15 GBP on top of the amount requested; banks along the way may also charge, and the Customer Agreement lets the broker charge the banking fees on deposits and withdrawals to the client's account. Withdrawal requests received within business hours are processed the same business day, or the next working day after 12:30 Malta time; the transfer then takes 1 to 2 business days within SEPA and up to 5 to 8 business days outside it according to the funding page, while the FAQ quotes up to 3 to 5 business days for international transfers. The broker sets no minimum or maximum withdrawal amount.

Tier1FX Support

Support is available by live chat, by email at support@tier1fx.com and by phone on the 24/5 support line, +356 23 27 3999, with the office line, +356 23 27 3000, answering during office hours. The accounting department works from 08:00 to 16:30 GMT, Monday to Friday, and official communications are in English. Complaints go to the Compliance Officer at compliance@tier1fx.com, who acknowledges them within one or two business days, and an unresolved complaint can be taken to Malta's Office of the Arbiter for Financial Services.

Tier1FX Pros and Cons

• Pro: an MFSA Investment Firm authorisation dating from 1995 and confirmed on the regulator's register, with segregated client money and Malta's Investor Compensation Scheme for eligible clients.
• Pro: an agency model with STP and DMA execution, in which the broker says it does not profit from client losses.
• Pro: a published commission schedule and a choice of MetaTrader 4, JForex and FIX API connections.
• Con: a 1,000 EUR or USD minimum deposit on its single live account, and CHF 250,000 for the Custodian Account.
• Con: bank wire is the only funding method, and every withdrawal carries a fixed fee.
• Con: the Customer Agreement reserves a mark-up on the raw spread, lets Tier1FX correct off-market trades and withhold gains it links to prohibited activity such as arbitrage, and allows rule changes with immediate effect.
• Con: no swap-free account, and no service for residents of the United States, Japan and a number of other countries.

Tier1FX Review and Assessment

Tier1FX is the agency brokerage of Hogg Capital Investments Limited, a Maltese investment firm authorised by the MFSA since 1995, and it suits experienced traders and larger accounts that want STP and DMA execution, a choice of MetaTrader 4, JForex or FIX API, and a published commission schedule. The high entry deposit, bank-wire-only funding and fixed withdrawal fee make it a poor fit for small accounts, and its Customer Agreement leaves the firm wide discretion over trade corrections, withheld gains and rule changes. Before funding an account, read that agreement in full and make sure you are on www.tier1fx.com rather than a clone site.