HQBroker joined the forex industry since 2017 offering trading services capped by the MetaTrader 4 platform. In terms of the execution model, HQBroker is a hybrid broker (both a-book and b-book broker or market maker). Its market offerings include forex, shares, indices, commodities, and CFDs. Unfortunately, HQ Broker is an unregulated broker.
Learn some interesting features and trading conditions under the brokerage service of HQBroker by gleaning through this forex broker review.
HQBroker Background and Safety
Founded in 2017, HQBrokers was a product of collaborative efforts of private traders and a group of investors to establish a brokerage firm offering client-centered trading services. Since its inception, HQBrokers formed its mission to provide advanced solutions to enhance the quality of online forex trading.
HQBroker is under the corporate name Capzone Invest Ltd. headquartered in Hong Kong. To date, HQBrokers offers up to 200 financial instruments including wide choices of indices, shares, and derivatives. HQBrokers continuously improves its customer support which now features 6 languages for all its traders across the globe.
HQBroker boasts of its high level of trading systems and solutions at the heart of its trading services. It focuses to provide traders low latency performance and lowest market-price differences possible. It also claims to have honest and transparent pricing, stating that it does not charge extra fees and hidden commissions.
Looking at its legal credentials, HQBrokers is at a disadvantage compared to other starting brokerage firms as it has not secured any certification that it is fully compliant with the international standards in providing financial services set by financial regulatory institutions. However, HQBrokers stated on its site that it is firm in practicing fund management by separating client funds from the company’s assets.
HQBroker Features and Fees
Market Offerings
HQBrokers offers the following financial instruments to its traders:
- Forex (more than 50 currency pairs available)
- Metal (Spot Gold and Silver)
- Derivatives (Commodities, Stocks, Equity Shares)
Account Types
HQBroker offers various account types that will fit the varying needs of different traders. These account types vary in terms of spreads (being fixed or variable) with zero commission fees considering that the broker is an ECN service provider. The maximum leverage for any account type is at 400:1 on account types with funds not more than $10,000. Higher seeded accounts sport higher leverage offering of up to 1000:1.
Moreover, the minimum trade size for forex trading is set at 1 micro lot (0.01 full lots) while the maximum trade size (on the smallest account) is at 0.5 micro lot. The Starter Account is the smallest account requiring a $250 minimum deposit. The Silver Account is next to the Starter Account requiring a $5,000 initial trading fund. These account types are the ones featuring the floating spreads. The other account types are the ECN-type accounts that require more hefty trading capital.
The Golden Account requires a $20,000 initial deposit, the Platinum Account asks for a $50,000 minimum fund, and the Investor Account asks for a $100,000 minimum deposit.
Below is the table of HQBroker’s account types for your reference and account comparison.
Funding Methods
HQBroker provides several funding methods for its clients processing deposits and withdrawals. For both deposits and withdrawals, clients can transact via Visa and MasterCard, along with other major debit and credit cards. Wire transfer is another option for deposit transactions. These methods carry zero charging fees unless charged by the payment provider.
HQBroker Trading Platforms and Tools
HQBroker is a MetaTrader only broker and features the desktop and mobile MT4 platforms.
MetaTrader4 Features: multiple chart setups, Market Watch window, built-in indicators, an array of analysis tools, negative balance protection, customizable EA for automated trading, real-time transaction history, and data import or export.
Other Important Tools/Offerings: more than 250 available instruments, flexible leverage up to 1:400, a long list of shares from world markets, Expert Advisors feature on all account types, one-click trading, and multi-language support.
The HQ Web Trader is another viable option for traders who wish to trade seamlessly using any type of browsers on any device without installation. It also carries all the features of the MT4 platform.
Mobile Trading
The4 mobile formats of MT4 are also accessible in the Android and iOS devices. The HQ Android Trader, the HQ iPhone Trader, and the HQ Tablet Trader are some of the mobile versions available on HQBroker’s site for download.
Bottom Line
Weighing the serviceability of the broker, HQBroker is a potential market leader in forex trading services. Alongside its competitive spreads offering and wide range of tradable assets, it offers good liquidity to facilitate smooth and less-restrictive trading.
On the flip side, traders who are not up for risks might not suit the broker as it does not bear any certification from a regulatory body. It also has no other platform option for traders who wish to try a different trading platform.
