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When reviewing HGNH's regulatory status for my own trading decisions, I found that their situation is quite complex and calls for caution. They have operated in Hong Kong for over 15 years and are listed as being previously regulated by the Securities and Futures Commission (SFC) in Hong Kong under license number AOU118 for certain activities, specifically futures contracts. However, it's important to highlight that their license for leveraged foreign exchange trading has been revoked, and records show they have exceeded the permitted business scope in other areas as well. For me, regulatory clarity is essential because it directly impacts the safety of my funds and the recourse available in case of disputes. While HGNH claims authorization for some services, the SFC licenses for several critical aspects—including leveraged forex and dealing in securities—are either revoked or indicate non-compliance. Additionally, there are international claims of unverified status in jurisdictions such as the UK, Singapore, and the US. Given these facts, although HGNH had some degree of regulatory oversight in Hong Kong for specific business arms, the loss or suspension of licenses for core services raises red flags I personally cannot ignore. Relying on up-to-date, active regulation is, for me, a prerequisite for trust in any broker.