A Detailed Hirose UK Review Before Opening A Micro FX Trading Account
Hirose Financial UK Ltd. is a Japanese Forex broker that expanded its operations to the European continent by setting up an office in the UK as early as 2010. The parent company, Hirose Tusyo, was established in Japan in 2004, soon after the Japanese Government deregulated the FX platform by making it legal in the country. The company managed to rise in popularity rather quickly by garnering more than 200,000 clients from all over the world and is currently responsible for transacting more than $200 billion worth of Forex orders on a monthly basis. Hirose UK has been at the forefront of trading technology, and the Japanese programmers should be credited for their relentless commitment towards making constant improvements to offer the highest performance in every field. Such a persistent pursuit of perfection has enabled Hirose Financial UK reviews to be highly positive from all quarters.
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What Are The Benefits Of Hirose UK Forex Trading Accounts?
Hirose UK allows its traders to open a micro account using a small deposit of just $20 and a maximum Hirose UK leverage of 1:300. The broker also offers a Binary Options trading account, but since it is not relevant to Forex trading, traders are advised to stick to the FX trading accounts provided by the broker. There are two different versions of Hirose UK trading platforms for trading the currency markets, the MT4 platform and the LION Trader. The MT4 platform is the more advanced of the two platforms, but the Hirose UK spreads are also higher, with the major currency pairs quoting around 2 to 4 pips spread. The LION Trader is merely a modified version of the ActTrader platform which is a simple trading platform but has extremely competitive spreads of around 0.8 pips on the major currency pairs.
Hirose Financial UK only offers the STP non-dealing desk account, which certainly makes the spreads highly attractive and cost-effective. Traders will not miss an ECN account, since the STP account offers tight spreads and the trades are opened without a commission. Traders who are very particular about the trading features of an ECN account will most likely give Hirose UK a miss, especially since there are brokers that offer an ECN account with a small initial deposit.
Traders also have access to dedicated Hirose UK mobile trading apps that are available on both the MT4 as well as the LION Trader platforms. The MT4 mobile app is far better regarding charting functionalities and advanced features, but the ActTrader mobile app is user-friendly and offers better spreads. Therefore, it is up to the trader to make the decision between the better spreads or better charting options. For traders who don’t have access to a dedicated trading terminal can make use of the LION WebTrader, which can be accessed through a web browser on both Mac and Windows.
So, Are My Funds Secure With Hirose Financial UK?
Hirose Financial UK is regulated by the FCA, and all client funds are protected under the FSCS scheme. Since the broker has its main headquarters in Japan, Hirose UK regulation is also supervised over by the FSA, which offers better protection for clients holding their funds with the broker. The broker has an excellent reputation for handling their finances according to the regulatory protocols and is required to submit routine audit reports to the FCA regarding the handling of client funds. The broker accepts multiple payment methods, and traders can deposit or withdraw funds using credit cards, bank transfers, and online payment processors such as Neteller and Skrill.
A Broker That Offers A Great Bonus For Forex Trading
Traders can enjoy a significant amount of Hirose UK bonus upon making an initial deposit, which can be up to 120% of the deposit amount, depending on their promotional offers. Unlike other brokers, Hirose Financial UK offers bonuses for every deposit that traders make, which can run into a huge amount very fast. Better yet, Hirose UK offers a free $20 to trade without making a deposit, which is certainly a great option for traders to test the markets without risking their own money. Of course, traders can opt for a Hirose UK demo account that is available for 30 days, however, a $20 no-deposit bonus does sound fascinating.
While a bonus is a good thing to increase the available margin and equity, bonuses are typically associated with trading conditions, which can prevent traders from making a withdrawal or transferring their money to other trading accounts. Brokers put several restrictions and strict conditions while redeeming bonuses, which severely limits the amount of freedom that clients can have on their invested funds.
The Final Trading Verdict Of Hirose UK
Hirose UK offers low initial deposit options, comparatively better leverage, highly competitive spreads, and most importantly, they are dedicated to refining their trading platforms and services constantly. The leverage might be considered to be a bit higher for professional traders, but the company cannot rule out a significant chunk of the retail trading market by lowering their leverage potential. However, 1:300 and a $20 initial deposit does sound like a perfect compromise to offer an FX trading account without going overboard. They also have excellent trading platforms to suit their accounts; however, the different spreads in the different platforms can confuse traders while making a choice. It is indeed hard to make a choice between competitive spreads and chart functionalities, which can end up acting against the company.
The most interesting aspect of the broker is that they offer a free $20 bonus, which is better than trading in a demo account. The bonus structure is also suited for binary traders, but the company extends its bonus policy towards all clients, ultimately making Hirose UK a bonus seeker’s paradise. However, the choice of a Forex broker should not be made on bonuses alone, and it is a trader’s duty to analyze all different aspects of a broker before opening an account and funding it with real money.