Hitradex-Overview of Minimum Deposit, Leverage, Spreads

General Information

Hitradex is allegedly a broker founded in 2018 that provides its clients with unique trading platforms, leverage up to 1:1000, low spreads from 0 pips on over 50 tradable assets, as well as a choice of three different account types and 24×7 customer support services.

Market Instruments

Hitradex advertises that it offers more than 50 trading instruments in financial markets, including cryptocurrencies like Bitcoin, stock indices, forex, commodities, precious metals like gold as well.

Account Types

There are three live trading accounts offered by Hitradex, namely Margin, Covesting and Turbo. Opening a Covesting account requires the minimum initial deposit amount of 0.1 BTC, while about which the other two account types are not involved directly on its official website.

Leverage

The leverage provided by Hitradex vary depending on different trading assets. For instance, the broker offers the leverage of 1:1000 for forex trading and 1:100 for cryptocurrency trading. Also, traders holding different account types can enjoy different maximum leverage ratios. Clients on the Margin account can enjoy the leverage as high as 1:1000, while the Turbo account can experience the leverage up to 1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Spreads are influenced by what type of accounts traders are holding. The spread on the Margin or Covesting account starts from 0 pips, while the spread on the Turbo account is not involved directly.

Trading Platform Available

When it comes to trading platforms available, instead of the industry standard MetaTrader4 and MetaTrader5 platforms, Hitradex gives traders a Hitradex trading platform. The broker says this platform is customized and features with layout professional charts, multiple order types and secure wallets.

Deposit & Withdrawal

Hitradex claims that it accepts deposit or withdrawal via PayPal, Skrill, Neteller, Money Gram, and some other cryptocurrencies. However, if you choose popular payment methods like PayPal, Skrill or Neteller, it will bring up a message showing that you need to contact the support. The only really available payment options are cryptocurrencies and an unknown payment system called Ada. Attention that the broker reveals that the client will face risk of having his/her account disabled if withdrawal is initiated before due date, which would attract a reconnection fee of $250.

Customer Support

You can also follow Hitradex on some social media platforms like Twitter, Facebook, Telegram and YouTube. However, this broker doesnt disclose other more direct contact information like telephone number, email or company address while most brokers offer.