This broker operates with different domains for several markets. The Cyprus-regulated one operates on .eu domain and it is the safer one of two for many traders, because it is regulated by a European Union standard. We should mention that HiWayFX also works under regulation of St. Vincent as well. As usual, those brokers regulated by Cypriot CySEC can work normally in any country in EU where FSCS guarantees for any deposit under €20.000.
HiWayFX sets the minimum deposit to even $20 or €20 while it give leverage rates that reach 500:1 or even 1000:1. This option to leverage your account is most attractive to those who are not certain if they should begin with higher starting investment, but would like to see their trading account boosted up.
1.3 pips is the usual spread of EUR/USD with the basic account at HiWayFX. You can get lower spread with ECN account, but then you are bound to a 0.5 pips commission.
But generally, this is the case with most of the brokers.
Execution model for forex that this broker uses is a no dealing desk or NDD. This is the way to make the process of trading more transparent, and it goes faster as well as easier. HiWayFX doesn’t offer dealers’ re-quotes or intervention.
Trading platforms at HiWayFX
You won’t find any surprises here, actually, as the broker uses the usual MT4. However, it does offer GWAZY trading platform with a demo account as well.
MT4 can be used for mobile devices too and we’ll just remind that it is the most popular trading platform in the world. There are options for signal copying, it goes with a great charting package, one-click trading and above all, it is easy to navigate, so even the beginners can get along with it quickly.
There is something that isn’t mentioned often, but it’s cool; already made trading strategies. Besides the option to create your own trading strategy with the help of expert advisors, programming languages, custom indicators and scripts, you can download a trading strategy. However, you should try to understand it before trading.
Copying signals might be familiar to you if you ever heard of Zulu Trade. HiWayFX has enabled its clients to join a trading social network and to open and to automatically copy experience trader’s investments, and get a portion of what the bigger cats make. That means you can set some percentage of your account (possibly all of it) and allocate it to the automated account that would do exactly what some experienced trader of your preferences does. However, there are more things to know about Zulu Trade, which you can find online. It is as simple to do it as it seems, but getting money is never simple, no matter how it seems. Once again, if you are new to this, understand and learn before you trade. Otherwise, it’s gambling.
HiWayFX also has option to use a tool for controlling several accounts from one major account.
Along with ZuluTrade copying other traders’ deals option, you are entitled to an analytical tool Claws&Horns as well as Virtual Server.
Now that we have described major attributes of HiWayFX, let’s be reminded once again that it is EU regulated which guarantees the safety of your money, it offers most usual indeed services, with addition of Zulu Trade, it has a low minimum depositing limit (of 20 USD or EUR), it gives leverage up to 500:1-
To wrap it all up, let’s just say that you can begin testing this broker by using its demo account.
However, you need to open an account first. Opening account is simple and standard. But to do that you can deposit your funds via credit card, bank wire, Skrill, Neteller, EgoPay, FasaPay, basically the all famous except for PayPal.