Traders who wish to open a trading account with HDforex must know that there are 4 account packages Pamm account plus a demo account. Demo account and Pamm accounts are not traditional account types, but more on that later. Minimum initial deposit with HDforex is $500, which is somewhat high.
Accounts available with HDforex are:
- Start Account
- Standard Account
- VIP Account
- Exclusive Account
All accounts include at least one platform for forex trading and binary options trading platform.
Start account with HDforex requires a minimum deposit in the amount of $500. This amount is almost the double the average. Traders with this account can use MT4 platform only, and commissions are fixed per one lot. ECN execution is also included, just like leverage up to 1:300. Traders also get a variety of trading assets, educational materials, daily news, but no mobile app which is very unusual. Spreads start at 1 pip.
HDforex Standard account is available with $3,000 minimum deposit, but traders get access to both MT4 and HDforex trading platform. Keep in mind that trading conditions change, depending on the trading platform the trader chooses.
MT4 traders can expect:
- Fixed commissions per lot
- Starting amount $5 per side
- ECN execution
- Up to 1:300 leverage
- HDforex traders can expect:
- Volume commission
- Starting amount – $80
- ECN/SWFX execution
- Leverage up to 1:300
- Mobile app
- More educational materials
With this account, spreads start at 0,16 pips.
HDforex VIP account is available only after $10,000 deposit. It also offers two different types of platforms with unique features. MT4 platform features remain the same, with an addition of master classes. HDforex platform allows starting amount from $60, and also supports master classes. Spreads start at 0.2 pips.
HDforex Exclusive account requires $50,000 deposit. No matter what platform type you use, leverage is now up to 1:100, and you get free professional assistance. Spreads are described as exclusive offers, and the broker doesn’t deliver any info on spreads in pips.
HDforex Pamm Accounts
While writing the HDforex review, we noticed that there is a special account type offered – Pamm account. Pamm account is short for Percent Allocation Management Module. Basically, traders with this account type let their personal fund managers manage the amount they have at disposal for trading. HDforex claims that this account type is providing trading on unlimited ECN liquidity. Limit of a position is 25 mil in base currency. We strongly recommend all traders to think through whether or not this is something they might benefit from. Managed accounts usually mean that trader is giving up on managing the risk personally to a certain level.
HDforex Demo Accounts
Even though HDforex claims to offer a free demo account, once we wanted to register it was impossible for us to do so. The registration form was broken and temporarily broken. Traders who wish to test the demo account will definitely be disappointed, as this nifty feature was not available. HDforex demo would be welcomed by traders of all kinds as it is always popular.
However, we managed to open a demo account via the link that appeared in the broken form. Demo account is available for 30 days in case of forex platforms and 14 days for binary options platform. All login data will be sent to your email. Keep that email safe. By clicking the link in the email, traders will get a chance to open one out of 3 HDforex demos. The great news is that traders can easily select how much money they want to have on their demo account. Of course, this money is virtual and traders must understand how a demo account is first and foremost a trading tool, and it is impossible to make any real profit while trading on it.
HDforex Bonus and Leverage – Deposit Insurance
HDforex doesn’t mention any specific details regarding binary options bonuses and leverage that can be used during forex trading. However, we managed to find a tab dedicated to bonuses that explains something called the deposit insurance. Deposit insurance basically a payment that you make prior to trading to ensure anywhere between 25% and 100% of the deposit amount. If you experience loss, the insurance will cover for it. Of course, there are special terms and conditions attached to deposit insurance. For example, there is a trading turnover that has to be met, but we didn’t manage to find much more details. Considering how every case seems to be specific, contact customer support for more information.