A Brief Look Into A Japanese FX Broker Through This Hirose UK Review
It is not often that one gets to hear about a Japanese broker offering Forex, OTC, and other ETF products to global traders. There is an excellent reason why Japanese Forex brokers aren’t as popular as companies from other countries and jurisdictions. Until quite recently, Japan had banned all types of Futures trading through the OTC market, and it was only in the early 2000s that the Japanese Government had lifted the ban on trading FX currencies and commodities in the retail trading market.
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- Website: hiroseuk.com
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The ban had adverse consequences on investors, who were only able to invest in the traditional markets, while traders from around the world were able to take advantage of the highly volatile and lucrative FX markets. Nevertheless, Japanese companies soon started offering FX products and allied services to investors from all over the world, and Hirose UK is one of the largest Forex brokers in the Japanese financial markets. Hirose started offering financial services in Japan in 2004, and by 2014, the company had increased its presence in 4 different locations across Asia and Europe. Hirose has its local offices in the UK, Malaysia, and Hong Kong, with its main headquarters situated in Japan. Hirose UK is the FX trading division of the company in the UK that provides Forex trading and binary options to savvy investors and retail traders from around the globe.
Hirose UK Regulation, Safety Of Funds & Investor Protection
Hirose UK is regulated by the Financial Conduct Authority (FCA) of the UK, which brings it directly under the European MiFID regulatory guidelines and the European Economic Area (EEA) agreement. FCA Hirose UK regulation guarantees access to the entire European market through the EEA initiative, which allows the broker to tap into the lucrative retail trading market without having any significant presence in other parts of Europe. Trader funds are protected under the Financial Services Compensation Scheme (FSCS), which is one of the most popular compensation funds provided in the financial markets. Traders are virtually guaranteed up to £50,000 if the broker winds up its business due to insolvency or bankruptcy procedures. The FSCS is one of the most secure compensation schemes that enforce strict guidelines to ensure transparency and integrity in the way a broker operates in the UK financial markets. Hirose UK is also regulated in other parts of Asia under the Japanese, Hong Kong, and Malaysian regulatory agencies. Therefore, Hirose UK does its best in ensuring the safety of client funds by making sure that all investors are protected under the stringent guidelines imposed by the various authorities. Hirose UK is indeed a reliable and authentic broker that promises the safety of your funds against financial frauds and malpractices.
Is It Worth Opening A Hirose UK Account?
Hirose UK transacts more than $200 billion in FX volumes each month and caters to more than 200,000 traders worldwide. There is enough reason to suggest that Hirose UK is one of the leading mainstream brokers that has comparatively lower visibility than its immediate competitors. Hirose UK is not as dedicated to marketing and branding, which might be the reason behind the company’s lackluster performance and lower brand exposure. Regardless, Hirose UK is incredibly popular in the Asian markets and is slowly gaining enough popularity in the European financial markets. You can open a Hirose UK account with a small investment of $20, which offers complete access to both a Forex trading account, as well as Binary Options trading account. Most experienced investors choose FX trading over binary options due to the control and risk-averse nature of Forex trading. Binary Options is also akin to gambling, which may or may not prove to be lucrative for most traders in the long run. The $20 minimum deposit grants access to an STP account, which has nominal spreads ranging between 0.8 pips to 3 pips on major currency pairs. The Hirose UK spreads are competitive, but traders are sure to miss an ECN account offering, which is guaranteed to offer the lowest spreads in return for a commission per trade. Nevertheless, the broker has kept its spreads under control to ensure that their clients are satisfied with the overall cost of trading. Traders can control a significant position in the market through a higher margin, which is offered by a maximum Hirose UK leverage of 1:300. Although 1:300 is not a small amount of leverage by any means, other brokers offer higher leverage to the tune of 1:1000 for scalpers and high-risk traders. The ability to trade with 0.33% margin does have a fair amount of risks in the FX markets, which requires traders to be careful about their investments to avoid margin calls. Another important aspect of a Hirose UK Forex trading account is the availability of bonuses and a free $20 to start trading without any strings attached. As a binary options broker that also provides FX trading services, the Hirose UK bonuses can run up to 120% of the initial deposit, which does sound like a significant amount of money. FX trading accounts qualify for lower deposits; yet, traders should be happy that the broker offers a bonus regardless of its regulatory status.
Trading On Hirose UK Platforms
The broker offers two different types of platforms, the ActTrader and the MT4 terminals. The ActTrader platform is rebranded as the LION Trader platform, which is available for both mobile, as well as desktop trading. The ActTrader platform is not as popular as the MetaTrader terminal; still, there are a few traders that might find the LION Trader platform to be better suited to their trading style than the traditional MT4 platform. The MT4 platform is also readily available for the smartphone and tablet market, which can be downloaded as Hirose UK mobile apps on the Android Google Play and iOS App stores. Both platforms perform as expected, but as an STP account, Hirose UK trading platforms are susceptible to requotes and slower order execution. ECN traders are bound to be disappointed with the overall trading environment offered by the Hirose UK STP trading accounts. If you are looking for a combination of FX trading and Binary Options trading accounts, Hirose UK is certainly one of the better options in the market. However, if you are looking for the best in FX trading conditions, there are far better choices in the market. Compare different brokers to find the one that suits your specific requirements.