Note: Since HashTrades official site (https://hashtrade.pro/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.
General Information & Regulation
HashTrade, a trading name of Xertz Consulting LTD, is allegedly an unregulated, blacklisted and offshore broker registered in Dominic that provides its clients with a web-based trading platform, flexible leverage up to 1:300, variable spreads from 0.35 pips on a variety of tradable assets, as well as a choice of four different account types.
Market Instruments
HashTrade advertises that it is a multi-asset platform with an extensive range of trading instruments in financial markets, including forex, stocks, commodities and indices.
Account Types
There are four live trading accounts offered by HashTrade, namely Junior, Middle, Senior and Leader. Opening a Junior account requires the minimum initial deposit amount of $500, while the other three account types with the much higher minimum initial capital requirements of $1,000, $5,000 and $10,000 respectively. The minimum position is 0.01, 0.01, 0.02 and 0.04 separately.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Junior or Middle account can experience leverage of 1:100, the Senior account with leverage of 1:200, while only the Leader account can enjoy the maximum leverage of 1:300. 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. HashTrade reveals that the spread on the Junior or Middle account starts from 0.35 pips, the clients on the Senior account can enjoy spreads from 0.4 pips, while the Leader account with spreads from 0.6 pips.
Trading Platform Available
When it comes to trading platforms available, HashTrade gives traders a web-based trading platform, equipped with pending orders, a live news feed, one-click trading, time frames, some limited chart customization options, stop loss, take profit, and price alerts (see the below screenshot). Anyway, we suggest you use MT4 or MT5 as the trading platform. MetaTrader is the most popular forex trading platform, which the traders praise for its stability and trustworthiness. It features sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and Strategy tester. Metatrader created a marketplace with currently 10,000+ trading apps the traders can utilize to achieve better results. Both the MT4 and MT5 have mobile APPs, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android devices.
Deposit & Withdrawal
HashTrade accepts deposits and withdrawals with bank wires, credit/debit cards, Paytrio, and cryptocurrency of bitcoins. The minimum deposit requirement is $500. As for the processing time of withdrawal requests, the withdrawal area shows that withdrawals are processed in 24 hours, while the withdrawal policy states that withdrawal requests are processed within 4-7 days.
Customer Support
HashTrades customer support can be reached by telephone: +3579602556 +357968867 +35796165749, email: compliance.en@hashtrade.pro, tara.croft@hashtrade.pro, tessa.croft@hashtrade.pro. Company address: ·8 Copthall, Roseau Vally, 00152 Commonwealth of Dominica.
2023-03-22 14:34
