HQ TRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2022-05-26 23:29

Abstract：HQ TRADE is allegedly a Chinese forex broker that provides its clients with Web trader platform, leverage up to 1:500, variable spreads on various tradable assets and a choice of three different live account types.

　　General Information

　　HQ TRADE is allegedly a Chinese forex broker that provides its clients with Web trader platform, leverage up to 1:500, variable spreads on various tradable assets and a choice of three different live account types.

　　Market Instruments

　　HQ TRADE advertises that it mainly offers five classes of trading instruments, including forex, commodities, indices, shares and cryptocurrencies.

　　Account Types

　　There are three live trading accounts offered by HQ TRADE, namely Bronze, Gold and Platnium. Opening a Bronze account requires the minimum initial deposit amount of €250, while the other two accounts with the minimum initial capital requirements of €12,500 and €25,000 respectively. However, this broker doesnt offer any free demo accounts.

　　Leverage

　　HQ TRADE provides leverage ratio between 1:100 and 1:500. Traders holding on different account types can enjoy different maximum leverage ratios. Clients on the Bronze account enjoy the maximum leverage up to 1:100, while the Gold account with the leverage as high as 1:300 and the Platinum account with the highest maximum leverage of 1:500. 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 account types traders are holding. For example, the spread in the Bronze account starts from 0.3 pips, the Gold account from 0.5 pips, and the Platinum account from 0.7 pips.

　　Trading Platform Available

　　Instead of the worlds most widely used trading platforms in the industry like MetaTrader4 and MetaTrader5, HQ TRADE gives traders the only choice of Web trader platform, yet we cannot find more detailed information about it.

　　Deposit & Withdrawal

　　HQ TRADE seems to accept deposit or withdrawal via Credit Cards and Bank Wires. There are no obvious options for using popular online payment platforms such as PayPal, Skrill, or Neteller. The minimum deposit is €250.

　　Customer Support

　　HQ TRADE‘s customer support can be reached through telephone: +43720883255, +442036702014, email: support@hqtrade.io, info@hqtrade.io. However, this broker doesn’t disclose other more direct contact information like company address while most brokers offer.