HiWayFX is a fresh forex broker these days. They have fused the forex world in 2014, though it was discovered in 2013. This is owned by the HiWay FX Capital Limited. It is based on the St. Vincent and Grenadines islands. On the other hand, the site is managed and ruled by their sister company, which is based in Gibraltar. It is called the HiWay FX Markets Limited. Legally, it operates as a financial service provider in Eurozone. Read more in Hiwayfx Review.
The guideline and security of the money
HiWayFX is supervised by the financial overseers of the island countries of Cyprus as well as St. Vincent and the Grenadines. It works under various domains on various markets as well. you are highly recommended to use the .eu domain because it is mandated by Cyprus. This is a country with a good directive of the 2 and it will make the options of the traders better, especially those who wants to be on the harmless and lucrative side.
With regards to the trading platform obtainable, they function with the proven MT4 which is industrialized by MetaQuotes Software Corp. the platform highlights a different variety of trading tools, since they are dramatically helpful and flexible. Using a built in API programming language, the traders an easily make their own skilled consultants to mechanize the trading process which is based in their own personalized trading instructions. For the traders wishing to trade using mobile devices, the mobile forms of the MT4 platform can be downloaded through the platform.
More so, the MT4 platform and the HiWay FX give sustenance for the social trading concluded the partnership of ZuluTrade. It is founded in Athens, Greece and it concentrates in social trading. This platform can help in bridging the gap of the market info and the trade implementation. Newbie traders can choose what fits them the most. This is a free trading tool that traders may determine, compare and keep track while they are trading.
Kinds of accounts
In this trading platform, they only have 2 primary kinds of trading account like standard, non-dealing desk account as well as the ECN NDD account. The standard account is best for newbies, because the minimum initial deposits will start from $20. You can start trading in forex, energy, market indices and metals too. For veteran traders who wish to reduce the cost of trading, they can choose for the ECN NDD trading account. This asks for a $1000 minimum deposit requirement.
For the standard NDD account you need a minimum deposit of $20, there will also be a personal manager to assist your needs and to handle your account. There will be free videos, free calendar, calendar and trading instruments as well.
For the ECN NDDA account holder, you need a minimum initial deposit of $1,000. There will be a personal account manager to handle your account. You will also be given with free video materials, free calendar, and trading instruments as well.
For those who holds the ZuluTrade social trading account, the traders must deposit $300 before they can access the social trading platform. They Myfxbook account mandates the trader to deposit $1,000.
To enable the trades to enjoy the performance of the performance of the HiwayFX, it has given 2 kinds of demo accounts for the traders to test. They have a demo for standard account holders and another demo for those who are using the ECN NDD account.
The customer service team
The customer service team of the HiWayFX is available 24/7, you can contact them through email, chat or through a telephone call. They can help in in different languages such as Bahasa, Russian, Romanian, English, Greek and others.
The pros and cons
For the pro, they have a hundred percent welcome bonus, beautiful promo offers, multilingual customer support team, more than eighty instruments, their broker is regulated, they conduct trading competition and they have social trading support. It is just that there is no web based platform available and scalping is not allowed as well.
HiWayFX Review: is it legal or not?
The HiWayFX has made accounts with low minimum starting deposits and with the high leverage rates. The traders can easily start in investing quite low as with the USD 20 or EUR 20 and then increase a leverage rate of more than 500:1. The account limits are suited for trades who do not want to start a high deposit account, but they want to expand the trading principal. You can also look for other brokers with high leverage as well.
The broker will not use no dealing desk forex execution model in making the trading process more price, easier, simpler and quicker, since offers no requotes coming from the dealers and there is also no interference from the dealer.
HiWayFX uses the standard type of trading platforms such as MT4, however it is has introduced a demo as well as live accounts on GWAZY white label trading platform. The MT4 is both available for Desktop computers and mobile apps, it is one of the globally used trading platform. With a click, the trading as well as the signal doubling and its superior charting packages, the platform is easy to use and even beginners can easily find what they are looking for.
Forex signs & social trading
HiWayFX bids a extensive extent of services that makes it easier to trade and it is also a fun filled activity. It has a special type of account for those who us ZuluTrade P2P online trading network and PAMM account. This is a kind of money forex trading where all of the investors can assign the money in a proportional manner for veteran traders and a MAM account.