Hirose UK offers a variety of trading solutions for the FX community (including binary options) both through the popular MetaTrader 4 and on its own Lion Trader platform.
history of the company
Hirose (old name Hirose Tusyo) was founded in Japan in 2004 and offered foreign exchange trading and investment services.
Hirose has focused on developing its business in Japan. After successful business in 2010, Hirose decided to expand outside their home country by founding Hirose Financial UK and becoming the first Japanese Forex broker to be licensed in London, UK.
The Hirose Group is today one of the largest OTC Forex providers with a global presence and FX margin services to over 200,000 clients worldwide.
Fund security
Hirose Financial UK Ltd., doing business as Hirose UK, is authorized and regulated by the Financial Conduct Authority (FCA 540244).
All regulated companies must comply with strict FCA rules and procedures. For example, British brokerage companies are required to have at least 730,000 euros, which will prove the financial stability of the broker.
Moreover, Hirose UK obeys the rules set by the UK Financial Watchdog and keeps all client money separate from the company's own funds.
But the most important in terms of the safety of funds invested in FCA-regulated firms is the Compensation Program (FSCS). In the event of a broker's insolvency, FSCS can cover your investment loss (or funds held in your trading account) up to a maximum of £ 50,000.
Trading conditions
Hirose UK clients can open one of two available account types, depending on the trading platform used: LionTrader and MetaTrader 4.
Minimum deposit
Traders must make a deposit of $ 20 to open an account with Hirose UK. In comparison, some other FCA regulated brokers have set a minimum deposit of $ 250 or more.
But if you are just starting your way in trading, we recommend that you find in our ranking of regulated brokers with a clean reputation that allow you to trade from $ 1.
Spreads and commissions
Hirose UK offers floating spreads that vary by account category: MT4 average spreads are 1.9 pips on EUR / USD, which is a relatively high value; while the spreads on the LionTrader account average 0.8 pips on EUR / USD.
Moreover, clients enjoy the benefits of commission-free trading on both accounts, as the broker is rewarded through the spread.
Leverage
The maximum leverage rates in Hirose UK are 1: 300. This leverage is considered relatively high, although many other FCA regulated brokers offer similar or higher leverage rates, up to 1: 300 and up to 1: 500.
Trading platforms
When trading with Hirose UK, you will be offered their own Lion Trader terminal and the popular MetaTrader4 (MT4). Both terminals are available in both desktop and mobile versions.
Lion Trader is an easy-to-use platform with fast execution speeds, 50 built-in indicators and free downloadable strategies. Suitable for scalping and hedging.
Like most Forex brokers, Hirose UK supports the popular MT4 trading platform. The terminal is preferred by most traders because it is equipped with an advanced charting package, a range of technical indicators, an extensive back-testing environment and many Expert Advisors (EAs).
Moreover, the broker has also developed the Lion Binary Pro platform, which is specialized in binary options trading.
Significant services
The broker has a demo account and an account with micro lots.
This is great news for both beginners and trading professionals. The first ones can try their hand at a demo account without losing any money; the latter can hone new strategies on micro-lots.
Support service
There are two phone numbers for contacting support: for the UK and international. There is also an email address and a contact form.
Ways of payment
Hirose Financial UK offers several easy ways to fund your trading account and withdraw funds: Credit / Debit Cards (Visa, MasterCard, Maestro), Bank Transfer, Skrill and Neteller.
Payment can be made in Pounds Sterling, Euros and US Dollars.
Criticism of traders
Traders complain about the long withdrawal of funds from the broker, as well as the fact that the support service ignores customer questions. Traders who have successfully traded with a broker find profitable spreads.
Pros:
regulated account; demo version; MT4; micro-lot trading.
Minuses:
high minimum deposit; site design and navigation are not relevant.
HIROSEUK is a brokerage company, meaning a professional participant in the Forex market. Such organizations have the right to conduct transactions on behalf of their clients, that is, to provide intermediary services between sellers and buyers.
What services brokerage companies provide
Most traders use the opportunities provided for trading currency pairs. The essence is roughly the same as when buying currency in a bank - buy cheaper, wait for the price to rise, and sell at a higher price. But trading through a broker has a number of undeniable advantages:
- the rates are much more favorable, and the costs are significantly lower;
- there is an opportunity to trade not only on the rise but also on the fall of currency rates;
- dozens, and in some companies up to a hundred currency pairs are available for selection;
- there are many auxiliary tools.
In addition, with the help of HIROSEUK, a client can conduct transactions with precious metals, indices, bonds, company stocks, cryptocurrencies, raw materials, and other goods. Without resorting to the services of a broker, it would be quite problematic for an ordinary person to buy, for example, a barrel of oil. But on a special trading platform, an order is opened with one click.
Stocks can also be purchased without the services of intermediaries. But this will be a much more complex process. It will be necessary to visit the websites of a large number of companies, compare data from them, and make a purchase directly from one of the firms. Difficulties will also arise because companies from different countries of the world maintain pages on the internet in their own languages, requiring translation. A broker provides a ready list of stocks, usually of the most profitable global brands with an abundance of information about them. After making a choice, again, it only takes one click.
The client can also receive a kind of loan from the broker, which in professional trading language is called leverage. That is, a person has the opportunity to operate with amounts that are many times, tens, or hundreds of times greater than their own funds. The size of the leverage is determined in each individual case by agreement between the client and the organization.
In addition to all this, brokerage companies are ready to assist clients in making decisions at their request. There are several options for this:
- auxiliary tools, technical indicators that automatically provide the necessary data for analysis;
- trading signals that suggest whether to buy or sell an asset at the current moment based on data from special programs analyzing market processes;
- access to analytics, news, event calendars published on the official website and social media pages;
- individual consulting by company specialists, which is usually available to those with substantial deposits.
Thus, trading through a brokerage company allows anyone to make a profit, limited only by their own level of knowledge and preparation.
What benefit does the broker receive?
The brokerage company HIROSEUK is interested in having more clients who conduct numerous transactions for significant amounts. The organization's profit directly depends on this. It is derived in the following main ways.
The broker HIROSEUK may charge a fixed commission for each transaction made. For example, 1 dollar. This type of cooperation is suitable for clients who open a small number of orders, aiming to make significant profits from each of them.
Another option is a bit more complicated but more popular. The broker receives a spread, which is the difference between the best buying and selling prices at the current moment. This form of payment for the company's services is suitable for traders who open many orders. The spread can be either fixed in size or variable depending on the situation.
The same broker can offer traders different payment options for their work on several types of trading accounts.
Brokers - Scammers
The Forex market is extremely attractive to people from all over the world who want to earn money. Unfortunately, where there is money, there are always deceivers and scammers. Among the organizations calling themselves brokerage companies, there are many firms operating illegally or officially registered but still using schemes to deceive clients.
In many ways, this is possible due to the vast size of the global financial markets. Regulation of activities in different countries varies, in some matters there are no unified standards, and the internet space, meanwhile, is unified. Finding various loopholes, scammers often evade responsibility.
There are countless fraudulent websites. They easily close after money is collected from deceived clients and refund demands start coming in. And immediately their organizers create new pages offering even more favorable conditions.
Such firms are called kitchens in trader slang. What do you think, is HIROSEUK a kitchen or not? Share your experience in the reviews.
How Dishonest Brokers Deceive
Primitive scammers simply collect money and then block the user's personal page. And the user can no longer even contact the company by any means. Before that, the scammers are in constant contact with the client. Their task is to convince the person to top up the trading account with as much money as possible, for this they sometimes urge selling property, taking loans from banks. The blocking occurs at the moment when it becomes clear that there is nothing more to take from the victim. As a rule, such sites close quickly after managing to deceive several wealthy clients.
But there are also such schemes that work much more subtly and manage to exist for years with a huge queue of people wanting to get their money back. Often they manage to officially cover up their actual scams. The user agreement includes clauses whose meanings a novice in trading simply does not understand or does not notice at all due to inattention and low level of financial literacy. Later, when claims arise, the company refers to the document, and there is nothing to counter this.
Another way of withdrawing money from clients' deposits is called quote manipulation. On its website, the scheme shows the user quotes that differ from the real ones. And the client does not actually trade on the market, but only within the same scheme. The charts and images are drawn in such a way that the trader ends up at a loss. One by one, the trades gradually zero out the deposit.
Even the generosity of a company, which is of course illusory, can pose a danger. For example, a client may be given bonuses expressed in real money for registering on the site, for replenishing an account, and others. Bonus currency units are mixed in the deposit with the client's personal funds, and the income received from them can no longer be separated. And when a trader tries to request a withdrawal, they learn about additional bonus usage conditions that will be impossible for them to fulfill. And all this was stated in the bonus program, written in small print in the farthest corner of the site. The fact that the client did not read the terms in advance is only their problem.
Places of registration of brokerage companies
Deceiving people from one country, fraudsters often hide in the territory of another, skillfully using discrepancies in the laws of states.
For these purposes, companies are often registered in offshore zones. These are either separate countries or parts of their territories with a registration regime loyal to any business and a low level of control. Simply put, to attract foreign capital to their territory, some small island in the ocean is ready to register a company with just an application and a minimal set of documents and does not interfere with an audit in its internal affairs.
The most popular offshore zones among brokerage companies are Saint Vincent and the Grenadines, Cyprus, Mauritius, Belize, the Marshall Islands, and the British Virgin Islands.
Official proceedings, for example with the broker HIROSEUK, will have to be conducted by traders in accordance with the laws of the specified states. And it is practically impossible to do this independently. It is also extremely difficult to find lawyers who know foreign laws. In some cases, presence at court hearings at the place of company registration may be required. All this makes the proceedings not only complicated but also expensive.
However, the mere fact of the broker HIROSEUK being registered in an offshore zone does not necessarily indicate dishonest intentions. Many reputable companies that have proven their high level over decades also have offshore registrations. The goal is to reduce tax expenses. In the 21st century, many strive for this. Therefore, the largest global banks and manufacturers, whose reputations are unquestionable, conduct business through offshore zones.
Moreover, not all countries attracting foreign capital can be called exotic. Cyprus is part of the European Union and adheres to its rules. The Virgin Islands belong to the United Kingdom.
How to Choose an Honest Broker
When choosing a brokerage company, many parameters need to be considered. The place of registration is one of them. But it is more important to assess who regulates the organization's activities and how. Local government regulatory bodies do this based on the location. You need to find their websites online and check the information about the issued permits. There are also supranational structures, membership in which obliges brokers worldwide to adhere to established internal norms and rules. Major Forex market participants often represent financial groups whose subsidiaries are regulated in multiple jurisdictions. In any case, brokers' official websites should provide information about the issued licenses. It is better for the client to verify its authenticity in the manner described above.
It is important to study what is written about the company on external resources. If there are no mentions of it at all, that's a negative. If its experts appear on leading thematic platforms, that's a positive.
Don't forget to read customer reviews on as many sites as possible. But approach them critically. Especially if one place writes exclusively good things and another exclusively bad. Look for reviews with specific examples, facts, and mentions of pros and cons, rather than unfounded praise or criticism.
The company's website should be detailed, and the information on trading conditions should be thorough, specific, and clear. It's not enough to say 'We have low spreads!'; exact sizes in points are needed.
By following all these rules, you will be able to choose a solid brokerage company, cooperation with which will help you enter the intriguing world of Forex, which has made many people on the planet millionaires.
