HQBroker Review 2021

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HQBroker Facts & Figures

HQBroker is a no-frills forex broker offering easy-access live trading accounts.

InstrumentsForex, stocks, commodities
Demo AccountNo
Min. Deposit$250
Payment MethodsCredit Card, HUMBL Pay, Mastercard, Visa, Wire Transfer
Min. Trade0.01 lots
Regulated ByUnregulated
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
STP Account
ECN AccountNo
DMA AccountNo
Mobile AppsYes
Auto TradingYes (APIs)
Social TradingNo
Copy TradingNo
Trade SignalsYes
Islamic AccountNo
CFD
Invest in the financial markets using dynamic CFD products.
FTSE SpreadFloating
GBPUSD SpreadFloating
Oil SpreadFloating
Stocks SpreadFloating
Leverage1:400
Forex

You can start trading online currencies with up to 1:400 leverage at HQBroker.

GBPUSD Spread1.5
EURUSD Spread1.2
EURGBP Spread1.5
Assets50+
Risk Warning – Your capital is at risk

HQBroker is an unregulated online forex provider offering advanced trading solutions. Traders of all levels are catered for across five live accounts and the MT4 and MT5 platforms. Our HQBroker review details the instruments available, the login process and market spreads.

HQBroker Headlines

HQBroker was established in 2017 and has since amassed an international client base from its Hong Kong headquarters. Despite its growth, the broker is currently unregulated. The company is owned and operated by Capzone Invest Limited which is based in the Marshall Islands.

Trading Platforms

MetaTrader 4

The industry-standard MT4 solution is available upon login. Highlights of the popular forex trading platform include:

HQBroker MT4
HQBroker MT4

MetaTrader 5

HQBroker also offers the MT5 platform which is more suited to experienced traders. Benefits of the MT5 terminal include:

HQBroker MT5
HQBroker MT5

Markets

HQBroker offers 200+ financial instruments across:

Trading Fees

HQBroker offers reasonable floating spreads with its Starter and Silver accounts. However, for fixed spreads under 1 pip on majors forex pairs, you’ll need to open a Gold, Platinum or Investor account. This will require a minimum $20,000 investment which may be too much for some beginners. Overall though, the broker is fairly competitive when it comes to trading fees.

Leverage

HQBroker offers leverage up to 1:400. This is high and means traders can take serious positions with small capital outlay. This is good news for those with low starting deposits, but it also brings with it the risk of serious losses. European regulated brokers, for example, cap leverage rates at 1:30 to protect traders.

Mobile Apps

HQBroker offers mobile trading on all of its accounts. Both MT4 and MT5 are available for download to mobile from either Apple or Android app stores. Clients can make deposits, request withdrawals and monitor trades from their mobile devices. The apps also allow for risk alerts to be set up and for automated trading programs.

HQBroker mobile trading
HQBroker mobile trading

Payments

Deposits

The minimum deposit at HQBroker is $250. Payment methods include:

Withdrawals

Withdrawals can be made via wire transfer or credit/debit card. A $50 minimum withdrawal rate applies to wire transfers and transactions take 3-15 days to process, which is longer than most brokers. There is no minimum withdrawal with credit and debit cards, and transactions are processed within 7 working days.

Unfortunately, a number of customer reviews highlight difficulty when it comes to withdrawing profits. This is a serious concern and may indicate a potential scam.

Demo Account

Another drawback to HQBrokers is the lack of demo account. Practice accounts, funded with virtual cash, are a great way for new clients to explore trading platforms and test the broker’s services. The absence of one may deter prospective users.

Bonuses

At the time of writing, HQBroker does not offer any deposit bonuses or promotions. It is common practice among providers not to offer welcome deals however this is subject to change. Traders should check the broker’s website before opening an account.

Licensing

HQBroker is not regulated by a trusted financial authority. Users should proceed with caution when signing up to unregulated brokers as they won’t get the same robust protections afforded by the likes of the FCA.

Despite an office in Hong Kong, HQBroker is not authorised to provide financial services in Hong Kong, France, or the USA.

Additional Features

The broker’s website hosts a number of free resources, including educational videos, ebooks, and news updates. Videos cover topics such as market strategies, trading psychology, and price analysis. HQBroker also offers MT4 tutorials and an economic calendar.

economic calendar
HQBroker economic calendar

Live Accounts

HQBroker offers five account types to suit different traders. Each option comes with an account manager, full access to instruments and a minimum 0.01 position size. As you move up the account tiers, you benefit from daily market analysis, around the clock support, and fixed, tight spreads.

Benefits

Reasons to sign up with HQBroker include:

Drawbacks

Unfortunately this review found several reasons not to open an account with HQBroker:

Trading Hours

HQBroker follows standard global trading hours. Hours may vary slightly depending on the instrument, details can be found on the broker’s website. Forex trading runs from Monday 00:00 to Friday 23:00 GMT +2.

Customer Support

HQBroker offers 24/5 telephone support in 10 different countries. Trader can also reach the customer service team via:

Unfortunately the live chat service didn’t meet expectations upon testing – wait times were long and operators were unhelpful.

Trader Safety

The MetaTrader platforms comes with premium security features including 128-bit encryption and 2FA protocols. Despite this, we would recommend caution before investing money with HQBrokers due to poor customer reviews and the lack of regulation.

HQBroker Verdict

The company offers a straightforward route to forex trading with access to both the MT4 and MT5 platforms. But without accreditation from a reputable regulatory body, plus the lack of a demo account and $250 minimum deposit, HQBroker is not the best option on the market.

Accepted Countries

HQBroker accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use HQBroker from United States, France, Hong Kong.

Alternatives to HQBroker

If you are looking for alternatives to HQBroker we have compiled a list of the top 5 brokers that are similar to HQBroker below. This list of brokers like HQBroker is in order of similarity and only includes companies that accept traders from your location.

  1. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  2. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  3. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  4. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
  5. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.

FAQ

Is HQBroker regulated?

No, HQBroker is not regulated and therefore is not bound by the same customer capital protection as other brokers. We always recommend caution before signing up with unregulated providers.

How much capital do I need to trade at HQBroker?

The minimum deposit at HQBroker is $250. The minimum position size is 0.01 lots, although stake requirements do vary among instruments.

Does HQBroker offer a demo account?

No – the broker does not provide an accessible demo account. This is a real drawback and means new traders have no way of testing HQBroker’s services before investing money.

What trading platforms does HQBroker use?

HQBroker offers the well-known MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Both terminals can be downloaded to desktop devices or traded through major internet browsers.

Is HQBroker available on mobile?

Yes, all trading platforms are compatible with iOS and Android devices. The MT4 and MT5 mobile apps can be downloaded from the respective app stores.

HQBroker is a no-frills forex broker offering easy-access live trading accounts.

HQBroker vs Other Brokers

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