Currency House Review
Currency House offers three live trading accounts and a free demo account with virtual $100 000. The broker’s portfolio consists of “3000 instruments”, according to its site, including forex pairs, CFDs, binary options and other derivatives.
The Company. Security of Funds
Company Country Regulation
Stark Industries Incorporated SVG No
Currency House is owned by Stark Industries Incorporated – a company registered in the offshore zone Saint Vincent and the Grenadines. The broker itself is located in Kiev, Ukraine, and is not regulated. Even though Ukraine has some kind of regulation of the forex brokers, the SVG does not. On the contrary, the island nation is known for its lax business laws and this attracts lots of companies who are often waling the thin line between legal and illegal activities.
The lack of regulation should serve as a big red flag and as a general rule the unregulated brokers should be avoided. It is preferable that clients do business with regulated brokers and be extra cautious before transferring money. Overall, the best regulation is provided by UK’s FCA and the Australian Securities and Investment Commission (ASIC).
Currency House provides only one platform for trading: XTB’s xStation, available as a white label partnership. The broker offers all its versions: desktop, web and mobile applications for Android and Apple devices.
The xStation platform has been voted “Best Trading Platform 2016” by Online Personal Wealth Awards and offers fast execution, very fast execution speeds, technical analysis and charting tools, social trading and a host of other options. It also has a social trading option and gives access to a large trading portfolio.
Methods of payment
Currency House accepts client payments through credit and debit cards, bank transfer and PayPal. Those are more or less standard payment options provided by most brokers, or at least the cards and bank transfers.
Currency House is an unregulated broker based in an offshore zone. This is a good enough reason to avoid doing business with it, but there are things that make it attractive.
Among them are the trading platform xStation, which provides access to a large trading portfolio, and the high leverage. On the other hand, the absence of the popular MetaTrader 4 (MT4) might put off some clients.
Currency House Review Conclusion
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