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HIGH UNION Spreads, leverage, minimum deposit Revealed

WikiFX | 2023-09-13 10:48

Abstract： HIGH UNION, a company established in Canada within the past 2-5 years, operates in an unregulated environment. They offer trading services through the MetaTrader 5 platform, covering a range of tradable assets including forex, stocks, indices, commodities, and cryptocurrencies. Clients can select from three account types: Standard, Premium, and VIP, with varying features and minimum deposit requirements. The company provides leverage up to 1:500 for forex and up to 1:200 for commodities, alongside competitive spreads. Deposit and withdrawal options include bank wire, credit/debit cards, and e-wallets such as Skrill, Neteller, and Perfect Money. For customer support, they offer contact via email and phone, conducted in the English language.

Key Information	Details
Company Name	HIGH UNION
Years of Establishment	2-5 years
Headquarters	Canada
Office Locations	N/A
Regulation	Unregulated
Tradable Assets	Forex, stocks, indices, commodities, and cryptocurrencies
Account Types	Standard, Premium, VIP
Minimum Deposit	$100
Leverage	Up to 1:500 (forex)
Spread	As low as 0.1 pips
Deposit/Withdrawal Methods	Bank wire, Credit/Debit card, E-wallet
Trading Platforms Available	MetaTrader 5
Customer Support Options	Email, Phone

Overview of HIGH UNION

　　HIGH UNION, a company established in Canada within the past 2-5 years, operates in an unregulated environment. They offer trading services through the MetaTrader 5 platform, covering a range of tradable assets including forex, stocks, indices, commodities, and cryptocurrencies. Clients can select from three account types: Standard, Premium, and VIP, with varying features and minimum deposit requirements. The company provides leverage up to 1:500 for forex and up to 1:200 for commodities, alongside competitive spreads. Deposit and withdrawal options include bank wire, credit/debit cards, and e-wallets such as Skrill, Neteller, and Perfect Money. For customer support, they offer contact via email and phone, conducted in the English language.

Regulation

　　HIGH UNION operates without any regulatory oversight, making it an unregulated broker. This absence of regulation means that the company operates without the framework of rules and standards typically imposed by financial authorities.

　　Consequently, there are no specific guarantees or oversight mechanisms in place to safeguard clients' interests or investments. HIGH UNION's unregulated status implies that it does not adhere to the regulatory requirements and compliance measures that regulated brokers are subject to, potentially affecting the overall risk associated with trading through this platform.

Pros and Cons

Pros	Cons
Competitive Spreads	Unregulated Status
Multiple Account Types	Limited Trading Platforms
Various Trading Instruments	Inaccessible Website

　　Pros:

　　Competitive Spreads: HIGH UNION offers competitive spreads starting from 0.1 pips for major forex pairs, potentially reducing the trading costs for clients.

　　Multiple Account Types: The company provides a range of account types, including Standard, Premium, and VIP, allowing traders to choose an option that aligns with their preferences and risk tolerance.

　　Various Trading Instruments: HIGH UNION grants access to a diverse selection of tradable assets, encompassing forex, stocks, indices, commodities, and cryptocurrencies.

　　Cons:

　　Unregulated Status: The company operates in an unregulated environment, which may raise concerns about the absence of specific safeguards and protections typically offered by regulated brokers.

　　Limited Trading Platforms: HIGH UNION exclusively offers the MetaTrader 5 (MT5) platform, potentially limiting traders who prefer alternative platforms or features not available on MT5.

　　Inaccessible Website: The company's inaccessible website could hinder traders from exploring its offerings and may affect its credibility and accessibility.

Inaccessible Website

　　HIGH UNION's lack of an accessible website poses significant challenges for traders. Without a functional website, potential clients are unable to create trading accounts with the company, severely limiting their ability to engage in financial transactions and access the offered services. This inaccessibility not only hampers traders' ability to explore the company's offerings but also raises concerns about the company's credibility and reliability as a brokerage platform. The inability to establish an online presence can deter traders from considering HIGH UNION as a viable option, potentially impacting the company's competitiveness in the market.

Market Instruments

　　HIGH UNION offers a range of market instruments, including forex, stocks, indices, commodities, and cryptocurrencies, allowing traders to access a variety of assets for speculative purposes.

　　Forex: HIGH UNION provides access to the forex market, allowing traders to engage in the exchange of various currency pairs. This includes major pairs like EUR/USD, GBP/USD, and USD/JPY, offering opportunities for speculating on the price movements of these currency pairs.

　　Stocks: The company also offers trading in stocks, enabling clients to invest in shares of publicly traded companies. While specific examples are not provided, clients can potentially trade stocks from various global markets.

　　Indices: Traders can access indices through HIGH UNION, which represent the performance of a group of stocks from a particular market or sector. These indices can include well-known ones like the S&P 500, FTSE 100, and NASDAQ.

　　Commodities: HIGH UNION allows trading in commodities, including precious metals like Gold and commodities such as Oil. Clients can speculate on the price movements of these physical assets.

　　Cryptocurrencies: The broker also offers access to the cryptocurrency market, enabling clients to trade digital currencies like Bitcoin and Ethereum.

　　The following is a table that compares HIGH UNION to competing brokerages:

Broker	Market Instruments
HIGH UNION	Forex, Stocks, Indices, Commodities, Cryptocurrencies
FXPro	Forex, Stocks, Indices, Commodities
IC Markets	Forex, Stocks, Indices, Commodities, Cryptocurrencies, Energies, Metals
FBS	Forex, Stocks, Indices, Commodities, Cryptocurrencies
Exness	Forex, Stocks, Indices, Commodities, Cryptocurrencies, Energies, Metals, Bonds

Account Types

　　HIGH UNION offers three account types: Standard, Premium, and VIP. Each comes with its own set of features and potentially varying trading conditions, including spreads and access to additional services.

　　Standard Account: HIGH UNION offers a Standard Account type, which comes with no specified commissions and spreads starting from 0.1 pips. This account type provides basic trading features without additional frills.

　　Premium Account: The Premium Account offers a lower spread of 0.05 pips, indicating potentially reduced trading costs compared to the Standard Account. Additionally, it includes access to more trading features and the services of a dedicated account manager.

　　VIP Account: The VIP Account offers the most competitive trading conditions with raw spreads and access to all trading features. Similar to the Premium Account, VIP Account holders also benefit from the assistance of a dedicated account manager.

　　The specifics of the account types are as follows:

Account Type	Commissions	Spreads	Additional Features
Standard	No	From 0.1 pips	Basic trading features
Premium	No	0.1 pips	More trading features, Dedicated account manager
VIP	No	0.1 pips	All trading features, Dedicated account manager

Minimum Deposit

　　HIGH UNION specifies varying minimum deposit rates for its different account types. The Standard account requires a minimum deposit of $100, while the Premium account demands a higher minimum deposit of $250. For the VIP account, the minimum deposit increases to $500. These minimum deposit requirements serve as initial funding thresholds for traders looking to open accounts with HIGH UNION, with each account type setting its own financial entry point.

Leverage

　　HIGH UNION offers varying leverage ratios depending on the asset and account type. For the Standard account, the maximum leverage for forex pairs is 1:100, while it's 1:20 for commodities. The Premium and VIP accounts provide higher leverage, with up to 1:500 for forex pairs and 1:200 for commodities. This means traders can potentially access different levels of leverage based on their chosen account type and the specific asset they wish to trade.

　　Below is a table comparing the maximum leverage for market instruments at HIGH UNION with those at other brokerages:

Broker	Maximum Leverage
HIGH UNION	1:500
FXPro	1:500
IC Markets	1:1000
FBS	1:3000
Exness	1:2000

Spread

　　HIGH UNION provides spreads starting from 0.1 pips for select forex pairs, such as EUR/USD, GBP/USD, and USD/JPY. For commodities like Gold and Oil, the spreads start from 0.5 pips. These spreads represent the cost of trading and may vary depending on market conditions and the specific assets being traded.

Deposit & Withdrawal

　　HIGH UNION offers multiple deposit methods including bank wire transfers, credit/debit cards, and e-wallets. Specifics are as follows:

　　Deposit Methods: HIGH UNION offers a range of deposit methods to accommodate client preferences. Clients can fund their trading accounts through bank wire transfers, credit/debit cards, or e-wallets like Skrill, Neteller, and Perfect Money. These options provide flexibility in how clients can deposit funds for trading activities.

　　Withdrawal Methods: When it comes to withdrawing funds, HIGH UNION provides multiple options as well. Clients can use bank wire transfers to withdraw their earnings or opt for credit/debit card withdrawals. However, it's important to note that credit card withdrawals come with a 2% fee. The availability of these withdrawal methods ensures clients have choices for accessing their funds.

　　Transaction Processing: HIGH UNION's transaction processing is efficient, with no specified withdrawal fees for bank wire transfers. However, there is a 2% fee associated with credit card withdrawals. E-wallets like Skrill, Neteller, and Perfect Money provide convenient and quick transaction processing for both deposits and withdrawals, making it easier for clients to manage their trading accounts.

Trading Platforms

　　HIGH UNION offers the MetaTrader 5 (MT5) trading platform to its clients. MetaTrader 5 is a widely recognized and established platform in the industry, known for its user-friendly interface, advanced charting tools, and a variety of technical indicators. Traders can execute trades, conduct market analysis, and manage their accounts using this platform.

　　Having a single trading platform, as seen with HIGH UNION, can be disadvantageous compared to competitors because it limits traders' choices and may not cater to all trading preferences and strategies. Traders who are accustomed to other platforms or require specific features offered by different platforms may find their options limited with a single platform brokerage.

　　Here's a table comparing the trading platforms offered by HIGH UNION with those of other brokerages:

Broker	Trading Platforms
HIGH UNION	MetaTrader 5 (MT5)
FXTM	MT4, MT5
Exness	MT4, MT5
Pepperstone	MT4, MT5, cTrader
FP Markets	MT4, MT5, IRESS

Customer Support

　　HIGH UNION provides customer support through email and phone in English, offering clients two main channels to seek assistance and address any queries or concerns they may have.

　　Email: HIGH UNION offers customer support through email, and clients can reach out to them at enquiry@highunionforex.com.

　　Phone (English): Clients can also contact HIGH UNION via phone at (604) 200-7892, with English language support available during these interactions.

Conclusion

　　In conclusion, HIGH UNION operates as a unregulated brokerage firm with a presence in the financial markets for approximately 2-5 years. This unregulated status poses potential implications for traders, as it may lead to a lack of certain safeguards and protections that regulated brokers typically offer. Despite this, the company provides access to a range of trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies, thereby offering traders diverse options for potential investment.

　　Additionally, HIGH UNION offers various account types, each with distinct features and varying minimum deposit requirements. Traders can select an account type that aligns with their trading preferences and risk tolerance. It's also worth noting that the company utilizes the MetaTrader 5 (MT5) platform for trading, which is a robust and versatile tool appreciated by many traders for its comprehensive features.