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House of Borse Review - Is it scam or Safe?

House of Borse Review - Is it scam or safe?

RATING: 3 / 0 REVIEWS House of Borse
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Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage  Average Spread 
Silver $5 000  0.1  1:100  0.2 pips on EUR/USD+ commission $4.5/lot


The broker provides a single type of trading account – a Silver one. This account has a requirement for a minimum deposit of $ 5 000, as it offers direct access to top tier liquidity with an ECN model, and accordingly, tight spreads which involve a reasonable commission.


Clients who invest at least $101 000 or achieve such monthly average trading volume, qualify for Gold membership, and those reaching $1 000 000, get Platinum status, benefitting from lower commission fees ($4/lot and $3.5/lot, respectively) and free VPS service.


What is more, swap-free (Islamic) accounts are available, designated for clients who are not willing to earn or pay interest for religious reasons.

 

A special trading account for managers is also available. Account managers must have at least three accounts to manage and supervise via UMAM software and a minimum aggregate volume of $250 000 in order to qualify.


The Company. Security of Funds


House of Borse Limited, trading as House of Borse (“HoB”) is an investment intermediary, focusing primarily on institutional and professional clients.


The broker specializes in forex and various contracts for difference (CFDs) on stocks, forex, options and precious metals, providing customers with direct market access to a wide range of bank and non-bank liquidity providers and ECNs.
House of Borse Ltd., operating under the trading name House of Borse, is authorised and regulated by UK Financial Conduct Authority (FCA). As a UK-based brokerage, House of Borse must comply with strict requirements and adhere to the highest regulatory standards.


For example, in order to acquire a license from the UK financial watchdog, brokers have to provide proof of financial stability: they must hold net tangible assets of at least €730 000 in order to conduct their business activities legitimately. Client funds have to be kept in segregated accounts, separated from the company’s operational funds, and brokerages are required to deliver regular financial reports and accounts on conducted trades.


Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the umbrella of the Financial Services Compensation Scheme (FSCS), where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent.

 

Trading Conditions


Minimum initial deposit

As this broker targets mostly institutional and professional clients, the minimum initial deposit required is high - $5 000. In comparison, leading broker FxPro, which also holds a FCA-license, requires $500 as a start.


Average Spreads & Commissions
As a true ECN brokerage, HoB offers tight variable spreads, the typical ones for the EUR/USD amounting to 0.2 pips. The commission fee applied is average - $4 per standard lot (per side). So, trading costs for the EUR/USD pair amount to around 1 pips per lot, commission included, which is a competitive amount for the forex market. As we have already mentioned, lower commission applies for clients with higher deposits or such trading in higher volumes.


In comparison, FxPro offers average spread of 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.
You may look up real-time spreads of 15 leading brokers here.


Maximum Leverage

The maximum leverage provided by House of Borse is 1:100. This is a comparatively low ratio, however a leverage of 1:100 or 1:200 is typical for professional accounts, where supposedly larger volumes are traded.


Other FCA-regulated brokers, like HY Markets, provide leverage up to 1:300, and FxPro – up to 1:500. You can look up a list of more forex brokers offering leverage equal to or exceeding 1:500.


Higher leverage levels involve higher risk and that is why we advise traders to exercise caution.


Trading Platform


Clients of House of Borse are offered the renown MetaTrader 4 (MT4), available as desktop, web and mobile versions.


MT4 allows users to fully automate their trades by Expert Advisors (EA) and let the program do all the work. This is one of the reasons MT4 to be the preferred platform by most traders. What is more, it offers extensive back-testing options, a wide range of technical indicators and advanced charting package. Here is a list of more forex brokers offering MT4 platform.


Besides, HoB offers VPS service – a virtual server that you can use for hosting your MT4 EAs, providing extra security and protection. It is free of charge for clients with Gold & Platinum membership.


Methods of Payment


In line with its strategy to offer standardized and narrow range of trading conditions and platforms, this broker supports only bank wire transfer as a payment method.


Conclusion


House of Borse is a dependable broker, offering ECN trading through the famous MT4 to mostly institutional and professional clients. To sum up the above, here are the Pros and Cons with regard to this brokerage:

 

Pros Cons
FCA-regulated No choice of trading platforms, accounts &payment methods
MT4 available Mediocre maximum leverage
Competitive tight spreads High minimum initial deposit
ECN model  

 

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Traders` reviews for House of Borse

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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