Overview of HelpTrading
HelpTrading is a forex broker founded in Saint Lucia within one year. So far, it has not been regulated by any major authority.
The broker offers various account types (Standard, ECN, VIP) with differing features, particularly in spreads and commissions.
The broker emphasizes customers' security and traders can transfer their funds securely with local payment methods like VISA, mastercard, UnionPay and so on.
Regulatory Status
It has been confirmed that HelpTrading currently lacks any significant authority's validation of its regulations. Traders must be mindful of the associated risks.
Pros and Cons
HelpTrading has several advantages, including multiple customer support, low spreads from 0.0 pips, fast withdrawals, and high leverage up to 1:500. The minimum deposit is as low as $10.
However, there is no mention of regulation on their website. The educational resources offered by the broker are also severely scarce.
Market Instruments
HelpTrading is a broker specializing in Forex trading through MetaTrader 5 platform.
Account Types
HelpTrading offers three types of accounts: Standard, ECN, and VIP. The account types differ in minimum deposit, spreads, commissions and swap fees.
The Standard Account has the lowest minimum deposit of $10, but also has the highest spreads, starting from 1.0 pips. ECN Account requires a $100 minimum deposit and offer tighter spreads from 0.8 pips, but come with a $6 commission fee per trade. VIP Account has the highest minimum deposit of $50,000 but offer the tightest spreads from 0.0 pips and no commissions. All accounts offer leverage up to 1:500, free swaps, and the ability to choose a plan. Here's a table summarizing the details:
The broker offers two choices to meet the different needs of traders, which are real account and demo account. Traders can experiment with trading strategies and get familliar with the trading platform without risking any real money with a demo account.
How to Open an Account？
Opening an account with HelpTrading is a straightforward process that can be completed in a few simple steps:
1.Registration: Sign up in 30 seconds and instantly access Help Trading dashboard and submit your documents.
2.Deposit Fund: Make your first deposit using one of the famous and reliable methods, including cryptocurrency.
3.Start Trading: Download the app and start taking advantage of excellent trading conditions, hundreds of assets and much more.
Leverage
HelpTrading offers different account types with varying leverage ratios as shown above. The standard account offers leverage up to 1:500, the ECN account offers leverage up to 1:300, and the VIP account offers leverage up to 1:100. A higher leverage ratio means a greater potential risk of losing more money than you deposit.
Spreads & Commission
Generally, HelpTraders offers different spreads and commissions to customers of different account types. VIP accounts offer the tightest spreads (as low as 0 pips) but have a $6 commission fee per trade. Standard and ECN accounts have wider spreads (starting from 0.8 pips and 1.0 pips respectively) but no commission fees.
Trading Platform
HelpTrading offers the MetaTrader 5 platform, an advanced version of MT4 with enhanced functionalities. MT5 provides more timeframes, additional technical indicators, and support for trading a wider range of financial instruments. HelpTrading offers a mobile trading platform that allows traders to trade from their phones or tablets. The new application allows traders to connect to HelpTrading servers, receive currency quotes, analyze financial markets using charts and technical indicators, trade and view the history of clients' trading operations.
Deposit & Withdrawal
HelpTrading makes it simple to move your money from place to place. They provide a range of account funding and account withdrawal options in multiple base currencies. The allowed methods include FastPay, FIRST IRAQI BANK, tether, PayPal, Mastercard, VISA, Bitcoin, and Bank Transfer.
Customer Support
HelpTrading provides various contact options to assist clients with different needs:
Phone: For any inquiries regarding MetaTrader 5 support, customer support, trading hours, funding accounts, or opening new accounts, you can reach HelpTrading' friendly team at their international phone number: +964 750 500 0498/964 770 500 0498.
Email: If you wish, you can contact the central office with each department through email. You can check all the questions about the accounts and their conditions through the following email: accounts@helptrading.net. You can check all the questions about cooperation and its conditions through the following email: partnership@helptrading.net. You can check all questions about account support and services through the following email: support@helptrading.net.
Online chat: Traders can click on the “Contact Us” button to get contact the broker and then leave their information and message.
Office: HelpTrading has offices around the world to serve you the best services. The corporate headquarters' address is Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. The address of Kurdistan operations is Iraq, Kurdistan, Erbil, Qazi Muhammad Street, Italian City 1, Office A36.
Conclusion
HelpTrading appears to be a forex and CFD broker offering various account types with a focus on quick and easy sign up. HelpTrading offers leverage up to 1:500 and the minimum deposit as low as $10. While they advertise tight spreads and a user-friendly mobile app, there are some drawbacks to consider: There's no mention of regulation and the specific trading platform.
FAQs
Q: What is HelpTrading？
A: HelpTrading presents itself as a forex and CFD broker, allowing you to trade currencies and contracts for difference on various assets.
Q: What are the benefits of trading with HelpTrading？
A: HelpTrading emphasizes a swift and straightforward signup process, getting you started in just three steps. They also offer different account types with varying features, potentially catering to different trading styles.
Q: Are there any drawbacks to consider？
A: There are a few limitations to be aware of. The website doesn't disclose the specific trading platform used, and crucially, it lacks information about regulatory oversight. This raises concerns about the security of your funds.
Q: What are some alternatives to HelpTrading？
A: If you're looking for a forex and CFD broker, it's wise to explore established and well-regulated companies. These brokers will usually have a proven track record, clear information about their trading platforms, and operate under the guidelines of reputable financial authorities.
Q: Where can I learn more about HelpTrading？
A: You can visit their website ([helptrading.net]) for more information. However, to make an informed decision, it's recommended to conduct your own research and compare HelpTrading with other regulated brokers.
2024-07-10 18:21
