Halifax America Review – Unbiased Pros & Cons Revealed

WHO IS HALIFAX AMERICA?

According to research in South Africa, Halifax America, a division of Halifax AU based in Australia, is an online broker which offers a variety of trading instruments on different trading platforms.

While the Halifax brand oversees multiple regional divisions, the originating company, Halifax Australia, is undergoing liquidation as of 2019, a process which is still ongoing in 2025.

That said, according to the latest announcement regarding the matter, this liquidation does not apply to Halifax America, which is still fully operational as an online forex broker.

Halifax America’s services are designed to give clients streamlined access to the widest range of financial markets and products.

Whether you are a first-time trader, experienced investor, or financial institution, the broker’s range of fast low latency execution and services are customizable to match each client’s needs.

Overall Rating

• 3.5/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

FINRA, SEC, NFA

Trading Platform

Multicharts, Halifax Trader, Market Delta

Crypto

No

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 SAFE OR SCAM?

The forex market is extremely volatile, linked as it is to fluctuations in global currencies which in turn are determined by various market movements and global events.

While this very volatility contributes to more enhanced and lucrative trades, particularly for regular traders, it also means that a certain level of security is required within the forex trading environment in order to ensure full profitability.

Most forex brokers aim to provide a certain level of security through some form of authorization under relevant regulatory bodies. The most recognized of these bodies include such organisations as the FCA, CySEC and ASIC.

However, such regulation can also present certain restrictions, such as on the level of leverage which regulated brokers may offer.

While these restrictive measures are put in place in order to protect traders, some investors may seek out brokers with less regulatory restriction to benefit from concurrently enhanced trades – a risk which is ultimately taken at the trader’s own discretion.

As already noted, the Halifax Australia brand is currently undergoing liquidation, and therefore traders would not be able to make any investments with the parent company of the Halifax America division.

Halifax America, which is still fully operational, is registered with the Financial Industry Regulatory Authority and Financial Industry Regulatory Authority (FINRA), the Securities Exchange Commission (SEC) and the National Futures Association (NFA).

This accounts for an extensive regulatory framework overseeing the broker’s operations, allowing for several client protection measures in the case of broker insolvency.

Nonetheless, prospective traders of Halifax America should take note of the events surrounding its parent company, and ascertain the extent to which Halifax America is fully divested from Halifax AU, before investing with this broker.

PROS AND CONS

LEVERAGE

Most brokers on the forex market today offer some form of leverage, which is essentially a small loan granted on behalf of the broker to their clients in order for them to make larger trades and increase their potential profits.

The entire forex and CFD industry to some extent relies upon the use of margin and leverage.

Leverage is the opportunity provided by a forex broker to open a speculative position worth a much larger amount of money than you have at their disposal. Leverage is expressed in ratios like: 200:1, 100:1, 50:1, etc.

For example, if your online trading company blocks €1,000 from your trading account to open a 100,000 EUR/USD position, it means you are using a 100:1 leverage. Put in different words, you control €100,000 with only €1,000.

As such, leverage is a great way for smaller traders to potentially make larger returns than they would have been able to with the investments already at their disposal.

However, making larger speculations with borrowed money also carries a higher risk of significant losses, particularly for those intending on investing large sums of money.

It is for this reason that many regulators made the decision to cap the maximum leverage which brokers operating under their authority could offer, so that most regulated brokers can now offer a maximum leverage of 1:30.

While Halifax America does seem to provide for margin trading on their site, the broker does not specify any leverage rations given at this stage.

The broker may have temporarily suspended the use of leverage for its clients due to the ongoing liquidation procedures pertaining to its parent company, in an effort to mitigate any current risk to its clients at this stage.

ACCOUNTS

The forex industry is arguably the largest financial market in the world today, and as such abounds with a wealth of different traders of all experience levels and trading styles.

In order to facilitate this varied base of client traders, most forex brokers provide a selection of different accounts which each cater to the specific needs of traders, and are  often designed according to experience level and investment styles.

Many of these accounts come with their own spreads and commissions also tailored to the requirements and the investment potential of specific traders.

Halifax America offers three tailored accounts, namely the Auto-Execution, Algo IQ and Self-Directed accounts.

Auto-Execution Account

The Auto-Execution account allows you to build a portfolio based on your preferred investment newsletter or trading system.

Halifax America will automatically execute trades and manage your account based on your preferred recommendations.

Algo IQ Account

The Algo IQ Account provides a wide range of algorithmic systems and detailed analytics to help you evaluate and select systems that may match your financial goals and risk tolerance.

Self-Directed Account

The Self-Directed Account allows users to select from over a dozen trading platforms to trade stocks, options, futures, and forex.

Halifax America provides both desktop and mobile platforms enabling you access to the global financial markets from nearly any location anytime.

MARKET INSTRUMENTS

The market range at Halifax America spans several asset classes across international Equities, Options, Futures, Forex and CFDs. These are provided with quotes from numerous liquidity providers.

FEES

Different forex brokers will offer different fee structures based on how they make a profit and on the type of traders which they target, or cater for.

Most forex brokers make a profit on the commission, or the spread, or both, and some offer more competitive structures, while others charge higher commissions in return for more lucrative trading options.

Traders will ultimately have to choose a broker whose fee structure best suits their trading style, the investment they have at their disposal, and their trading strategy.

Halifax America claims to provide competitive spreads and rates, with low commission trading. Unfortunately, the exact spreads and commission structure are not featured anywhere on the broker’s website.

DEPOSIT AND WITHDRAWAL

Traders often examine a broker’s deposit and withdrawal options in order to determine how the associated rates charged by the broker might affect their profitability over the long term.

Traders also often seek out brokers who provide a wide range of deposit and withdrawal options in order to make for a more streamlined and cost effective process.

Halifax America provides various deposit and withdrawal methods, with some allowing trading to commence on the same day.

These include deposit and withdrawal methods include Bank Deposit, Electronic Transfer, Cheque or Debit/ Credit Card.

The broker does not charge deposit or withdrawal fees, though fees from some banking institutions may apply.

TRADING PLATFORMS

Halifax America provides several trading platforms, the most popular amongst its forex clients being the Multicharts, Halifax Trader and Market Delta platforms.

Multicharts Platform

This platform is a complete professional trading software, and also provides traders with superior back-testing and auto-trading capabilities.

Halifax Trader

This proprietary platform provides access to stocks, options, futures, forex, and bonds in one account through desktop and mobile applications.

Market Delta

This platform is a cloud based execution platform that integrates with Market Delta’s innovative charting and analytics.

HOW TO OPEN AN ACCOUNT

Opening an account with Halifax America is a straightforward online process which consists of the following steps:

1. Complete an application form.
2. Upon completing the application, you will be registered with a username and password that will give you access to your account.
3. Log in to the brokerage’s client portal.
4. Arrange for the transfer of funds from your bank to deposit funds into your account. This may be through check, credit or debit card, or electronic transfer from your bank account. Note: Using a credit card for this purpose can be subject to interest charges.
5. Once your account has been funded, you are now ready to start trading. At this point, you will want to review any recommendations or special details that your broker provides regarding use of their trading platform before actually making your first trade. Some brokerages may offer trading simulator programs to allow traders to practice before actually putting money into trading.

CUSTOMER SUPPORT

Halifax America provides fairly limited customer support, which consists of telephone and email contact, or the more outdated fax option. There is no live chat function or multilingual support available.

EDUCATION

Halifax America provides a comprehensive educational section on its website, which consists of video tutorials and eBooks which cover a range of essential topics regarding forex trading.

RESEARCH

Apart from the charting and analytics tools inbuilt in the broker’s advanced trading platforms, Halifax America also provides an economic calendar, and a dedicated blog with regular insights on market movements.

AWARDS

Often, the level and number of awards which a broker has received is a strong indication of their standing within the industry, though some brokers do not participate in awards schemes.

Halifax America has not listed any awards on its website to date.

CONCLUSION

Halifax America provides a decent trading environment, with a number of tradable instruments provided across a range of highly advanced trading platforms.

Unfortunately, the broker is not forthcoming regarding its fee structure, and its customer support is lacking.

While Halifax America is highly regulated, the broker’s parent company is currently undergoing liquidation. While this process does not apply to Halifax America as of yet, prospective clients should keep this in mind before signing up with this broker.

DISCLAIMER

Risk Warning: The Company also offers CFD products which are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with GCI Trading.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptocurrencies are complex, high-risk, and volatile and may result in the loss of all invested capital over a short period of time; they are not appropriate for all investors.

Investors must understand and acknowledge these specific characteristics and risks and be warned that there is no EU regulatory framework governing trading in cryptocurrency products.

CFDs and Forex are not only complex instruments, but they also have a high level of risk which may result in loss of funds that exceed the trader’s initial deposit.

Traders need to evaluate their objective, level of risk exposure and willingness to be exposed to risks, according to research done in South Africa.

Overall Rating

• 3.5/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

FINRA, SEC, NFA

Trading Platform

Multicharts, Halifax Trader, Market Delta

Crypto

No

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

FAQs

TRADING ENVIRONMENT

How many instruments can I trade with Halifax America?

The market range at Halifax America spans several asset classes across international Equities, Options, Futures, Forex and CFDs

Which platforms are supported by Halifax America?

• Multicharts
• Halifax Trader
• Market Delta

Does Halifax America offer leverage?

Halifax America does not stipulate any leverage ratios at this stage

What spreads can I expect with Halifax America?

Halifax America’s claims to offer competitive spreads, but does not specify any amounts.

Does Halifax America charge commission?

Halifax America claims to offer low-commission trading, but does not provide and fee structures.

Is Halifax America regulated?

Yes, Halifax America is registered with the Financial Industry Regulatory Authority and Financial Industry Regulatory Authority (FINRA), the Securities Exchange Commission (SEC) and the National Futures Association (NFA).

Is Halifax America a recommended forex trading broker for experts and beginners?

Yes, Halifax America offers a decent trading environment for both beginner and advanced traders.

What is the overall rating out of 10 for Halifax America?

7/10

ACCOUNTS

What is the difference between a demo and live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customers actual money.

Does HALIFAX AMERICA offer a demo account?

Yes

How long is the demo account valid?

The demo account is valid for 30 days

Which live trading accounts does Halifax America offer?

• Auto-Execution
• Algo IQ
• Self-Directed accounts

What are the available deposit currencies for a live trading account?

USD

DEPOSITS AND WITHDRAWALS

What is the minimum deposit for Halifax America?

Halifax America does not charge a minimum deposit

How do you make a deposit and withdrawal with Halifax America?

• Bank wire
• Credit/Debit Card
• Cheque
• Electronic Transfer

Does Halifax America charge withdrawal fees?

No

How long does it take to make a withdrawal?

Withdrawals can take up to 5 business days depending on your banking institution, although electronic transfers are processed within 24 hours.