Rating Index
Pros
Established reputation since 1998 with a strong client base and positive reviews.
No hidden fees, providing transparency in costs associated with money transfers.
Wide range of currencies supported (60), catering to a diverse international clientele.
Cons
Fixed transfer fees can be considered high, especially for smaller amounts (£9 for transfers below £3,000).
The mobile app has received negative feedback, indicating issues with usability and functionality.
Some clients have reported inconsistent customer service experiences, particularly regarding support responsiveness.
HiFX broker Accounts
HiFX Account Type
HiFX offers several account types tailored to meet the needs of different traders. The primary account types available are:
- Standard Account
- Minimum Deposit: $50
- Max Leverage: 1:500
- Min Trade Size: 0.01 lots
- Max Trade Size: 1000 lots
- Typical Spread: From 0.8 pips
- Commission: $5.00 per lot
- Pro Account
- Minimum Deposit: $500
- Max Leverage: 1:500
- Min Trade Size: 0.01 lots
- Max Trade Size: 1000 lots
- Typical Spread: From 0.4 pips
- Commission: $7.00 per lot
- Var Account
- Minimum Deposit: $250
- Max Leverage: 1:500
- Min Trade Size: 0.01 lots
- Max Trade Size: 1000 lots
- Typical Spread: From 1.2 pips
- Commission: $0.00 per lot
- Mini Account
- Minimum Deposit: $25
- Max Leverage: 1:500
- Min Trade Size: 0.01 lots
- Max Trade Size: 1000 lots
- Typical Spread: From 1.0 pips
- Commission: $1.00 per lot
Registration: Visit the HiFX website and click on the "Open Live Account" button. Fill in the required details, including your name, email address, and phone number.
Email Verification: After submitting your registration form, you will receive an email to verify your account. Click on the link in the email to activate your account.
Identity Verification: Log in to your newly created account and complete your profile by providing necessary identification documents, such as a passport or driver's license and proof of address (e.g., utility bill).
Account Setup: Once your identity is verified, you can choose the type of trading account you wish to open. Select from the available account types (Standard, Pro, Var, Mini) based on your trading needs.
Funding Your Account: After setting up your account, you will need to fund it. The minimum deposit varies by account type, starting from $25 for the Mini account.
Start Trading: Once your account is funded, you can start trading on the HiFX platform, accessing a wide range of market instruments.
Each account type supports trading in various instruments, including forex, indices, commodities, metals, stocks, and cryptocurrencies.
HiFX Broker Account Opening Process
Opening an account with HiFX is a straightforward process that can typically be completed in just a few steps:
For detailed information, you can visit the HiFX website: HiFX.
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