HQBroker Review

WHO IS HQBROKER?      

According to research in South Africa, HQBroker is a Japanese company founded in 2017 with headquarters in Hong Kong.

HQBroker is owned by Capzone Ltd. and operate an ECN model, using STP technology, without any dealing desk interference.

The broker is self-regulated and offers trading in over 200 instruments that include Forex currency pairs, several major stock indices, a wide range of individual stocks, and a few major commodities and derivatives.

Its mission is to provide a secure trading environment in the global forex industry and in doing so carry out advanced solutions to further improve the quality of online forex trading.

HQBroker offers the MetaTrader4 platform through a choice of five live account types.

SAFE OR SCAM

HQBroker is owned by Capzone Invest Ltd and is a self-regulated broker registered in the Marshall Islands.

It is safe to assume that the brokerage does not fall under any regulations because the government of the Marshall Islands does not include Forex trading within its regulatory framework.

Clients from the United States, France and Hong Kong is not accepted.

PRO AND CONS

LEVERAGE

Leverage enables a trader to get a much larger exposure to the market the person is trading than the amount deposited to open the trade. Leveraged products, such as forex trading, magnify a trader’s potential profit – but also increase the potential loss.

Leverage is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1 000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

Margin is the collateral to cover any credit risks that may arise during trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you need to have enough funds in your trading account to ensure sufficient margin.

For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.

At HQBroker the leverage ratio is 1:400.

ACCOUNTS   

HQBroker offers a choice between five live account types with the following features:

• Start Account

Minimum lot size: 0.01

Spreads: floating

• Silver Account

Minimum lot size: 0.01

Spreads: floating

• Gold Account

Minimum lot size: 0.01

Spreads: fixed

• Platinum Account

Minimum lot size: 0.01

Spreads: fixed

• Investor Account

Minimum lot size: 0.01

Spreads: fixed

Daily analysis: yes

Free VPS: Yes

All the accounts come equipped with an account manager. The broker also offers the option to open a free demo account that is usually available for a period of 30 days.

MARKET INSTRUMENTS

The most popular market instruments available from most brokers for trading include:

Forex:

Forex trading describes the currency exchange market which refers to the global, decentralised marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities:

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices:

Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals:

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy:

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

HQBroker offers over 200 trading instruments that include:

• Major, minor and exotic currency pairs
• Commodities
• Derivatives

FEES

Cost and fees depend on different factors, like spread and margins, and HQBroker clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.

With HQBroker there is no fees charged for deposits and withdrawals or for commission. Extra charges may occur depending on the third party provider used by the client.

In the Starter and Silver accounts floating spreads start at 1.2 pips on the benchmark EUR/USD currency pair.

Fixed spreads are on offer in the Golden, Platinum, and Investor accounts starting from 0.8 pips for the benchmark EUR/USD currency pair.

DEPOSIT AND WITHDRAWAL

Accounts usually requires a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done with the same ways, but sometimes differ.

In the case of HQBroker, the following minimum deposits are required:

• Start Account – $250
• Silver Account – $5 000
• Gold Account – $20 000
• Platinum Account – $50 000
• Investor Account – $100 000

The following methods can be used to fund accounts and to execute withdrawals:

• Credit cards
• Debit cards
• Bitcoin
• Ethereum
• MPWP
• Bitcoin Cash
• Litecoin
• Bank Wire Transfer

All clients work through the MyWallets and deposits and withdrawals are done through this portal that provides a link on the trader’s account.

Deposits into a trading account can be made in EUR, USD, and GBP currencies.

All deposits are processed immediately except for bank wire transfers that take between 2 to 5 working days.

Credit or debit card withdrawals take between 3 to 7 business days and bank wire transfers between 3 to 15 business days to reflect into the trader’s account.

TRADING PLATFORMS

The forex trading platform provided by HQBroker to its clients is the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

HQBroker provide MetaTrader4 as the only trading platform and it is available in English, Italian, Russian, Spanish, German, French, and Portuguese. The platform is compatible for desktop, web, Android, iPhone, iPad, and tablets.

The trading platform is described as user-friendly, intuitive and customisable, with charting tools and news, analysis reports and financial calendars. MT4 can perform numerous trading approaches on all the account types.

Copy trading services and Expert Advisors (EAs) are available for all.

HOW TO OPEN AN ACCOUNT

Similarly to a bank, to register a forex trading account with HQBroker for the first time, you will be required to go through a basic “know your customer” process, which will allow HQBroker to verify your submitted details and ensure the safety of your funds and account details.

New clients are requested to complete the online registration form with your personal and contact details. What the further process of opening an account entails is not clear.

Usually you will receive a verification email after which you should be able to start trading.

CUSTOMER SUPPORT

Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.

The customers support team can be reached in real time by phone, email, live chat, or completing the return a call option on the website. Support is provided in English, Italian, Russian, Spanish, German, French, and Portuguese.

The broker provides telephone numbers on the website for all the regions is operates in as well as an option to send an email.

EDUCATION       

Before starting to trade, potential clients of HQBroker should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

HQBroker offers a variety of educational materials through a link that directs clients to the Education Centre. Here they have access to a number of learning videos, forex eBooks and a trader glossary.

With the Markets News link traders are directed to further help on explaining what forex is. Only clients that have a registered account with HQBroker have access to these tools.

RESEARCH         

To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.

With HQBroker only registered clients can access the research tools on offer in the Education or Market news links on the website.

It provides daily news articles and an economic calendar.

AWARDS

Being an awarded company instils extra confidence by traders.  HQBroker has not received any awards since its inception.

CONCLUSION  

HQBroker is a self-regulated broker but seems to provide a good trading platform for traders.

It offers the popular and globally preferred MetaTrader4 and a choice between five account types to trade with in multiple asset instruments.

In addition, it offers educational and research tools to assist beginner and advanced traders.

DISCLAIMER

While HQBroker promises to make all efforts to fill a trade at the requested price, trading on-line does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement.

Foreign Exchange (Forex) and Derivatives trading is highly speculative and carries a high level of risk which may not be suitable for all investors. A possibility of losing capital investments may arise.

The Company therefore advises to not invest funds you cannot afford to be depleted to a great extent.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor, according to research in South Africa.

FAQs

TRADING ENVIRONMENT

How many instruments can I trade with HQBroker?

Over 200 financial instruments that include currency pairs, commodities and derivatives  

Which platforms are supported by HQBroker?

MetaTrader4

Does HQBroker offer leverage?

Yes, HQBroker offers a maximum leverage of 1:400

What spreads can I expect with HQBroker?

HQBroker offers a floating spread on the Starter and Silver accounts and the fixed spread on the Golden, Platinum, and Investor accounts

Does HQBroker charge commission?

No, it does not charge commission

Is HQBroker regulated?

No, HQBroker is self-regulated

Is HQBroker a recommended forex trading broker for experts and beginners?

Yes, HQBroker offers a trading environment for both beginner and advanced traders.

What is the overall rating out of 10 for HQBroker?

6/10

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 HQBroker offer a demo account?

Yes

How long is the demo account valid?

The demo account can be used for a period of 30 days

Which live trading accounts does HQBroker offer?

• Start Account
• Silver Account
• Gold Account
• Platinum Account
• Investor Account

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

USD, EUR, and GBP

DEPOSITS AND WITHDRAWALS

What is the minimum deposit for HQBroker?

$250

How do you make a deposit and withdrawal with HQBroker?

• HQBroker offers the following deposit methods:
• Credit cards
• Debit cards
• Bitcoin
• Ethereum
• MPWP
• Bitcoin Cash
• Litecoin
• Bank Wire Transfer

Does HQBroker charge withdrawal fees?

No, but fees from financial institution may apply

How long does it take to make a withdrawal?

Withdrawals on credit and debit cards take between 3 to 7 business days and bank wire transfer between 3 to 15 business days. Traders should note however that depending on a specific bank service it may take several days for the money to be available in a client account