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Currency House Review – is it scam or safe?

Currency House Review  – Is currencyhouse.com scam or safe forex broker?

RATING: 2 / 3 REVIEWS
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 Trading accounts and conditions

 

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Basic $250 0.01 lot 1:500 From 0.1 pips
Standard $500 0.01 lot 1:500 From 0.1 pips
Pro $2000 0.01 lot 1:500 From 0.1 pips

 

Currency House offers three live trading accounts and a free demo account with virtual $100 000. The broker's portfolio consists of “3000 instruments”, according to its site, including forex pairs, CFDs, binary options and other derivatives.

 

 

The Company. Security of Funds

 

 

Company Country Regulation
 Stark Industries Incorporated SVG No

 

Currency House is owned by Stark Industries Incorporated – a company registered in the offshore zone Saint Vincent and the Grenadines. The broker itself is located in Kiev, Ukraine, and is not regulated. Even though Ukraine has some kind of regulation of the forex brokers, the SVG does not. On the contrary, the island nation is known for its lax business laws and this attracts lots of companies who are often waling the thin line between legal and illegal activities.

 

The lack of regulation should serve as a big red flag and as a general rule the unregulated brokers should be avoided. It is preferable that clients do business with regulated brokers and be extra cautious before transferring money. Overall, the best regulation is provided by UK's FCA and the Australian Securities and Investment Commission (ASIC).

 

 

Trading platform

 

Currency House provides only one platform for trading: XTB's xStation, available as a white label partnership. The broker offers all its versions: desktop, web and mobile applications for Android and Apple devices.

 

The xStation platform has been voted “Best Trading Platform 2016” by Online Personal Wealth Awards and offers fast execution, very fast execution speeds, technical analysis and charting tools, social trading and a host of other options. It also has a social trading option and gives access to a large trading portfolio.

 

 

Methods of payment

 

Currency House accepts client payments through credit and debit cards, bank transfer and PayPal. Those are more or less standard payment options provided by most brokers, or at least the cards and bank transfers.

 

 

Conclusion

 

Currency House is an unregulated broker based in an offshore zone. This is a good enough reason to avoid doing business with it, but there are things that make it attractive.

 

Among them are the trading platform xStation, which provides access to a large trading portfolio, and the high leverage. On the other hand, the absence of the popular MetaTrader 4 (MT4) might put off some clients.

 

 

Pros Cons
xStation No MT4
High leverage Unregulated

 

 

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Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for Currency House

scam

good day

no answer from Dan, Vladyslaf or Matt from currency house on my money no trading were done on my managment account for the last four months, also wanted to withdraw my money but with a lot excuses and story's and with no success. were can we complay about this and how can we go about getting our money back

Jan Vneter 08/28/2017

Currency House: I was scammed

Hi my name is enest from South Africa. I'm also a victim of currency house scam. I lost 7500 usd with in a month. After that I never heard of them. They avoid me. When I ask Any what going on he says his not working there anymore i must ask Dan. Dan ignore me. So now I only have 700usd in my acc. I want to withdraw that change but can't cause there is no option of withdrawal. Please help me. Thanks

Enest 06/18/2017

Currency House: Money withdrawal problem

why is it so hard to withdraw? currency company is falling down...i need my money back...

sphesihle mthembu 05/02/2017
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