Harborx is innovative broker specialized for trading with Forex, CFDs and currency pairs. This broker is operated by Harborx Limited and was founded in 2013. Also, Harborx is regulated by CYSec under license number 230/14. It has two offices, one in Cyprus and second one in Hong Kong. In this review, we will explain all the tools and features the broker provides to help you make the decision on the first deposit. We will also clarify how to trade and how to make an account through which all transactions in the financial market go through.
Harborx is a broker who allows his traders to trade only through a mobile app. In this way, trading is secured at any time keeping in mind that you have a wifi connection required for trading on the go.
What differentiates the Harborx broker from the other, are four main features:
- Meet the Stars – Traders can connect with the top traders worldwide and discuss and share their experience to improve their trading skills
- Follow the Recommendations – Traders can link their accounts and get tips from Star Traders. This why any trader, from beginner to the expert can learn more and trade by following other traders
- Fast Feeds – Traders are able to gain access to real-time exchange rates and see all price charts on the financial market within minute
- Currency Trading – Traders can choose from more than 50 Forex pairs and review and analyze their own trade history. Also, they can compare their results and statistics with other traders
Not only is the broker licensed by CySec but its simplicity and clear instructions help traders to trade at any point using the on the go application. It is important to note that Harbrox does not charge any commissions and spreads start out at 2 pips for EUR/USD. Also, Social Trading features are completely free and there is no additional cost.
Leverage with this broker is 1:50 and maximum leverage level is 1:100. In order to protect traders while trading, CySEC proposed the default leverage to be set at 1:50.
Trading Software & Assets
Harborx offers only mobile trading and its application is both professional and easy to use. Traders can use different tools and features to trade on the mobile app: Stop Loss, Take Profit, Follow Star Trader and many other.
With clear price charts, traders can see their trading history, compare their performance with other traders on the Leaderboard and receive different weekly bonuses available for top-rated traders.
This app is more popular because of the Social Trading options where traders can get recommendations from selected traders that are performing with good results on Harborx community. These traders are called Star Traders and you as a Harborx trader can copy all their trades and trade on the market just like them.
Minimum deposit for Harborx broker is $50 and we consider that as a reasonably low amount to start with.
Harborx application is available for both, iOS system and Android devices. Also, traders can sign up with Google, e-mail or via Facebook. This app has an almost 5-star rating in Google Play Store.
To summarize all the benefits of this app, we can say that this app is different from other competitors because of:
- Interesting Tutorial
- Star Traders
- Different Competitions
- Referall Program
Harborx Demo Account
All traders can sign up for Harborx Demo Account and test all features and tools with virtual money. It is important to note that virtual money cannot be withdrawn and it serves only for testing the product. To use Demo Account, traders need to Sign Up for Harborx App welcome screen. This trial/demo account is available for 90 days and after that is removed. Our team always advise all traders to test all features and tools that are provided by the broker and this way learn more about the trading process with a specific broker.
As far as customer support is concerned, we have to agree that Harborx broker is at a high level. At Contact Us form, traders can contact an educated agent through Ask Us form, but at any time they have Live Chat available. While writing this review we tested Live Chat and asked for answers to some of the questions that were of interest to us. The agents were patient and answered all of our questions in a short period of time. This is very important for all traders, starting from beginners to professionals. This way, all traders can find the desired information, and those who want to know more and more in detail can read the FAQ rules at the top of the Harborx site.
Banking & Company Information
As we already said, minimum deposit for Harborx is $50. To deposit funds, traders can simply sign in to their Harborx Account via App and on the Dashboard select Deposit option. For deposits above or equal to $1,000 it is important to complete the verification process of your account.
Traders can deposit funds by:
- Credit card
- Debit card
- Bank Transfer
To withdraw funds, traders need to do the same process but select Withdrawal option. Then they need to enter desired amount to withdraw and click on Withdrawal button. According to the Harborx, the company will process withdrawal request within 1 business day. Harborx does not charge any fees for deposit or withdrawal transaction, however, we advise our traders to check for more info with their customer support team.