Review of the broker HiwayFX

HiWayFX-Forex Broker Review

HiWayFX is a regulated Forex and CFD broker (is regulated by CySEC of Cyprus) which offers ECN/NDD trading execution to its clients and operates since 2014. This company offers a lot of instruments to trade like Forex, precious metals, CFD on various asset classes and binary options.

Basically it is an ECN/NDD broker, which means that offers its customers direct market access and to its main liquidity provides, so it does not become the counterpart of the traders during their transactions. Also, this allows HiWayFX  to offer variable and extremely low spreads and a fast orders execution.


Type of broker

HiWayFX  is a ECN/NDD/STP broker.

Regulation

HiWayFX is regulated by the following financial regulatory entities:
  • CySEC from Cyprus (license number 125/14).

Country of origin

Currently the main offices of the company are located in Cyprus. It also has offices in Gibraltar and Saint Vincent and the Grenadines.

Trading Instruments

This broker allows to trade with the following financial assets: 
  • Forex Market: 68 currency pairs in the spot market, including the most important like the EUR/USD, GBP/USD and USD/JPY and other more exotic such as the USD/ZAR, EUR/ZAR, GBP/MXN and GBP/HKD among other.
  • Commodities: Gold and silver in the spot market, two of the most important commodities in the market. This broker also allows to trade with platinum and palladium on the spot market against the USD.
  • Contracts For Difference: CFDs based on the following financial assets:
    • 10 major stock market indexes such as the S&P 500, CAC 40, Dow Jones and Nikkei 225 among others.
    • 3 of the most relevant energy commodities in the markets and at industrial level, including crude oil and natural gas.
  • High/Low binary options: Traditional binary options based on currency pairs, commodities and stock indices. In these contracts, the trader only has to predict whether the price of the underlying asset will go up or down over a given time period, compared to the current market price.
*The CFD trading conditions depend on the underlying asset of the contract.

Trading Accounts

HiWayFX offer 4 types of trading accounts according with the client profile which have the following conditions:
Trading Account  Standard NDD ECN NDD ZuluTrade MyFXBook
Initial Deposit (in Euros) 20 1000 100 1000
Trading execution type Market execution Market execution Market execution Market execution
Trading execution Forex, precious metals, energy commodities and indices Forex, precious metals, energy commodities and indices Forex Forex, precious metals
Minimum transaction size (lots) 0.01 0.01 0.01 0.01
Spreads From 1.2 pips From 0.0 pips Variable spreads Variable spreads
Leverage 1:1 up to 1:1000 1:1 up to 1:500 1:300 1:500
Margin Call level 100% 100% 100% 100%
Stop Out level 20% 50% 20% 20%
Trading commissions(FX) 0 0.002% of the trading volume The spread, which may be higher than in normal accounts The spread, which may be higher than in normal accounts
Scalping strategies No Yes No Yes
Hedging strategies Yes Yes Yes Yes
Personal Account Manager Yes Yes Yes Yes
Free educational videos Yes Yes Yes Yes
Free economic calendar Yes Yes Yes Yes
  • Standard NDD account: These are Non Dealing Desk trading accounts designed to trade virtually with no delays in executions. The minimum deposit to open a Standard NDD account is $20 and allow to trade with 5-digit quotes and variable spreads. These are the regular accounts of the broker HiWayFX.
  • ECN NDD account: This account covers the needs of advanced traders. They are ECN/NDD accounts which means that all trading orders go directly to the broker liquidity providers, eliminating any conflict of interest between the broker and trader.
  • ZuluTrade Account: A special type of trading account that allows customers to directly connect to the service and platform of Zulutrade, one of the largest providers of automated Forex trading today. Through ZuluTrade, customers can follow and copy in real time (copytrading), the transactions performed by thousands of real traders (which can be selected by the user), including experienced traders with winning strategies.
  • Myfxbook Account: This is another special type of trading account that allows customers to directly connect to the service and platform of Myfxbook , a community of Forex traders and one of the largest providers of automated Forex trading today. Through Myfxbook, the customer can follow and copy in real time, transactions made by thousands of trading systems (which can be selected by the user), including trading systems designed by experienced traders. The copy process and trading execution of the selected systems is based on what is known as Mirror Trading.

PAMM accounts service

HiWayFX has a PAMM account service to all its customers. Generally speaking, they are trading managed accounts in which a professional trader is responsible for the opening and management of market transactions using their own capital and the money of investors who invest in these accounts in order to get a return. PAMM accounts are an excellent option for people who wish to invest in the Forex market but at the same time lack the expertise and/or time to analyze and trade the market on their own.

In this case, the manager begins opening the account with their own capital and making trades to increase the equity and show a positive return to potential investors. Subsequently, the manager makes a proposal to attract investors. Investors meanwhile, put their money in the PAMM account in order to profit if the manager obtains a positive return on their transactions. The best performing managers attract a growing number of investors, which have the ability to profit in the Forex market without making a single trade on their own.

In other words, the PAMM accounts offer opportunities for both investors and professional traders.

Demo Account

Yes, with no limit of time.

Trading Platforms
HiWayFX offers its customers the following options of trading platforms based in Metatrader 4:
  • Metatrader 4: This trading platform is one of the most complete and popular in the Forex market. It is a downloadable application that includes many features like updated market prices, advanced price charts with multiple time frames, dozens of built-in technical indicators and others. Likewise, this platform enables the creation, evaluation and implementation of automated trading systems called Expert Advisors and allows to connect the trading account with the copytrading service Metatrader 4 Trading Signals of MetaQuotes.
  • Platforms for mobile devices: This broker offers several Metatrader 4-based applications, which are designed to access the account and trade in the market from any mobile device such as smartphones, including Android and iOS phones for example. These platforms have basic trading tools, such as updated quotes, market news, price charts and technical indicators incorporated.
  • Gwazi: A web-based application that can be accessed from anywhere with an Internet connection and is designed to trade with binary options. It has an easy to use and user-friendly interface, and offers other features such as position management tools, current prices, basic price charts, a registry of trades performed and other. This platform was created specifically for binary options trading unlike other as Metatrader 4, which offers the possibility to trade with a wide range of instruments.

Payment Options

The client can make deposits and withdrawals by bank wire, credit cards (the main credit cards like VISA and Mastercard), Skrill, Neteller, OKPAY and Egopay.
The deposits can be made in USD and EUR.

Main Advantages of HiwayFX

  • Highway is an ECN broker that offers high internal liquidity which is generated by the same clients of the broker in addition to automated routing to one of its various liquidity providers (banks)
  • This broker offers regular bonuses for new customers who open a trading account and deposit funds. There are also promotions for existing customers.
  • HiWayFX offers an excellent customer service.
  • No hidden commissions of any kind for the trades of its customers.
  • It is a broker that offers the Metatrader 4 platform.
  • As an ECN broker it offers variable spreads with a fast orders execution.
  • For traders interested in automated trading, the broker offers several options in this regard, including trading accounts associated with Zulutrade and Myfxbook (the largest automated trading services at present) and the use of Expert Advisors on the platform MT4.
  • HiWayFX also offers the possibility to trade in the market from mobile devices such as smartphones.
  • The clients of HiWayFX has the ability to trade with binary options.
  • Updated market news.
  • Free educational videos for all customers.
  • A personal account manager for all customers.
  • It allows use of all kinds of trading styles, including scalping and hedging.
  • This company offers the possibility of making profits by promoting their services as a broker through an affiliate program.

HiWayFX Main Promotions 

This broker offers regular bonuses and promotions for both regular and new customers with a real trading account. The current promotions are the following:
  • A welcome bonus up to 100% for all new clients who open a trading account an deposit funds.
  • A cash rebates promotion through which the trader can earn up to 15 USD for each traded lot.

Other categories of this broker

  • Gold Broker.
  • Silver Broker.
  • CFD Broker.
  • Metatrader 4 broker.
  • Binary options broker.
 
Company Lucro Capital Ltd
Minimum account size $20 for the Standard NDD account.
Minimum lot size 0.01 lot.
Maximum Leverage 1:1 to 1:500.
Spreads (Forex) This broker offers variable and very low spreads (depending on the trading account) from 0.0 pips for the main currency pairs such as EUR/USD.
Open a demo account HiWayFX Account
Open an account
 



HiWayFX is a regulated Forex and CFD broker (is regulated by CySEC of Cyprus) which offers ECN/NDD trading execution to its clients and operates since 2014.

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