House of Borse Review 2024
Website: www.houseofborse.com
Min. Deposit: US$ 5000
Leverage: 1:30
Trading Platforms: MT5
Regulation: FCA
Headquarters: UK
Founded: 2001
Regulatory Licenses:
- House Of Borse Limited - authorized by FCA (UK) license no. 631382
Updated on January 8, 2024
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House of Borse is a brokerage firm based in the UK that has been operational since 2001. It provides access to a diverse range of markets, including Forex, CFDs, commodities, indices, ETFs, and equities. This review is based on a rigorous analysis, comparing House of Borse against over 1000 brokers in terms of regulation, trading platforms, tools, fees, spreads, and customer service among other criteria.
House of Borse Pros and Cons ▲
Pros
House of Borse offers a fully digital and straightforward account opening process.
It operates within an ECN trading environment, ensuring low latency and transparency.
Traders benefit from relatively low commissionbased fees.
The popular MetaTrader 5 platform is available, providing traders with advanced trading tools and charting capabilities.
Cons
The broker may not suit beginners due to the high minimum deposit requirement and limited educational resources.
Customer support is not available 24/7, which could be a drawback for traders in different time zones.
Is House of Borse Safe or a Scam? ▲
House of Borse is not a scam. It is a trustworthy and reliable brokerage firm, regulated by the esteemed Financial Conduct Authority (FCA) in the UK. The FCA's strict regulations and guidelines ensure that the broker adheres to high operational standards, enhancing the safety and security of traders.
House of Borse Review Summary in 12 Points ▲
Headquarters: UK
Regulation and License: FCA
Instruments: Forex, CFDs, commodities, indices, ETFs, equities
Platforms: MetaTrader 5
EUR/USD Spread: 0.3 pips
Demo Account: Yes
Minimum Deposit: $5,000
Base Currencies: EUR, USD, GBP
Education: Limited
Customer Support: Available 5 days a week
Overall House of Borse Ranking ▲
House of Borse receives a positive evaluation for its top-tier regulation, extensive range of trading products, the advanced MetaTrader 5 platform, and competitive spreads and pricing. Following our comprehensive testing and comparison with over 1000 brokers, House of Borse's Overall Ranking stands at 8.5 out of 5.
Yes, House of Borse is a legitimate and regulated broker. It places a strong emphasis on adhering to regulatory standards and undergoes rigorous monitoring to ensure a secure trading environment. With its top-tier FCA regulation and commitment to a low-risk ECN trading environment, House of Borse strives to offer a dependable and trustworthy trading experience. Our House of Borse Trust Score is 8.5 out of 5, reflecting its reputable services and good reputation.
As an FCA-regulated entity, House of Borse must comply with stringent operational standards, including high capitalization and robust safety measures. The FCA's consistent monitoring and auditing of every trade executed by House of Borse further enhance trading protection. Additionally, clients' funds are segregated from the company’s funds and stored in reputable Tier-1 banks, ensuring their security.
House of Borse extends the opportunity for traders to use leverage, which essentially multiplies your trading position by a certain number, thereby offering greater market exposure. According to the regulations set forth by the FCA, House of Borse provides leverage options tailored to UK traders. These individuals are permitted to utilize a lower leverage ratio, capped at 1:30 for major currency pairs and 1:10 for commodities, in line with prudent financial practices and regulatory standards.
Through our comprehensive research, involving a comparison across 1000 brokers, it's been noted that House of Borse caters to diverse trading needs by offering multiple account types. These include Silver, Gold, and Platinum accounts, each designed to accommodate varying trading volumes and providing more favorable trading costs through commission charges. In addition, House of Borse accommodates a broad spectrum of traders by offering Swap-Free trading accounts, ensuring inclusivity and flexibility in trading options.
The process to open a live account with House of Borse is streamlined and user-friendly. To get started, potential traders can navigate to the "Account Opening" section on the broker's website and follow the straightforward steps outlined: select the "Account Opening" page, input the required personal details (such as name, email, and phone number), and verify this information by uploading the necessary documentation (including proof of residence and identification). Additionally, applicants are required to complete an electronic quiz to confirm their trading experience. Upon successful verification and activation of the account, traders can proceed with depositing funds and begin their trading activities.
Offering an extensive selection of popular markets, House of Borse provides access to over 200 financial instruments. These include Forex, CFDs, Metals, Commodities, ETFs, and Equities, ensuring traders have a wide range of options for diversifying their portfolios. The broker's Markets Range Score stands at an impressive 4.0 out of 5, highlighting the broad selection of trading instruments available. However, it's important to note that several popular asset classes remain unavailable for trading, which may limit some traders' strategies.
Our in-depth analysis reveals that House of Borse incorporates its trading fees into a commission-based structure, with no accounts operating on a spread basis. Traders should also be mindful of the broker's overnight policy, which comes into effect when a trading order is held open for more than one day. In such instances, a rollover fee, swap, or overnight fee is applied to the position. It's crucial for traders to thoroughly review House of Borse's fee structure, terms, and conditions to fully comprehend the charges involved and assess how they might influence trading profitability. The fees at House of Borse are considered average when compared to the broader market, achieving a rating of 3.9 out of 5 based on our extensive testing and comparison with over 1000 other brokers.
Based on comprehensive assessments, this broker delivers variable interbank spreads starting from 0 pips, plus commission charges that vary depending on the type of account you opt to trade through. The average spread for EUR/USD observed in the Forex market is notably low at 0.3 pips. In a comparative analysis against a broad spectrum of over 1000 brokers, the spreads offered by this broker are competitively ranked, securing a low position with an overall rating of 4.4 out of 5. This rating reflects not only the lower-than-average Forex spread but also competitive spreads across other trading instruments.
This broker offers several methods for depositing funds into trading accounts, including Bank Wire and Credit/Debit cards. The overall rating for funding methods stands at 4.0 out of 5, indicating a positive evaluation. The fees associated with these transactions are low, and traders can benefit from a variety of account-based currencies. However, it's noteworthy that e-wallets like Skrill or Neteller are not supported as funding options. Concerning the broker's minimum deposit requirement, a significant amount of $5,000 is mandated. This figure might appear steep for novice traders, yet it aligns with the broker's focus on catering to professional and corporate clients by offering robust trading technology. In comparison, the majority of other brokers typically require a minimum deposit of $500. Regarding withdrawals, the broker imposes no fees for either deposits or withdrawals, albeit fees from payment providers are passed on to the client. Withdrawal methods are inclusive of Bank Wire and Cards, with potential variations in fees based on the card type and issuing country, which can be reviewed in the member area. Additionally, any incoming bank fees related to Wire Transfers will be borne by the client.
The broker grants access to the renowned MetaTrader5 (MT5) trading platform, which is celebrated for its high customization capabilities, enhanced trading performance, and superior charting and analysis tools compared to its predecessor, MT4. The platform's rating stands impressively at 4.3 out of 5 when compared to over 1000 other brokers, highlighting the advanced features of MT5. Desktop trading is seamlessly manageable, enabling quick and efficient position management along with the use of Expert Advisors (EAs) for automated order placement. The platform's compatibility extends across various devices including iPhone, iPad, and Android devices, at no additional cost, and is suitable for a wide range of devices such as PC, MAC, etc. Furthermore, the broker accommodates PAMM systems, offering a set of trading performances specifically designed to meet professional needs.
To sum up, this broker emerges as an appealing choice for trading, especially for professional or corporate clients. It offers a low-risk ECN trading environment along with access to the advanced MT5 platform, endowed with an extensive array of trading tools and features. Equally significant is the broker's credibility, fortified by regulation from the reputable FCA and its established reputation. However, the relatively high minimum deposit requirement may deter beginner traders or those with limited capital, as the broker's offerings are tailored towards larger-scale traders. Overall, the brokerage firm presents a reliable and competitive trading environment. Nonetheless, it is advisable for traders to conduct their own research and assess whether the broker's services align with their specific trading needs. Based on thorough analysis and expert opinions, this broker is highly recommended for:
Traders from the UK
Users who prefer the MT5 trading platform
CFD and currency trading
Professional traders
Institutional trading
DMA/ECN execution
Competitive spreads
White Label solutions
EA/Auto trading
Advanced trading tools
