The contemporary FX trading industry is seeing changes. While some brokers (who used to be some of the leading companies in the niche) keep quitting the industry or cease to exist at all, some other brokers out there are definitely facing some major financial challenges, which further translates into bad experience for their clients who cannot get their money back, not to mention any chance to withdraw profits. As the result they automatically got blacklisted by multiple rating websites, including the most unbiased and respected online FX rating by Masterforex-V Academy named Masterforex-V Expo.
With that said, traders should be careful when choosing a Forex broker and choose among some of the most reliable companies interested in successful traders. This leads us to the following question: How to tell true information about a certain broker from various ads on the web?
Test Drive by Masterforex-V Academy: New Way of Finding Out the Truth.
For starters, Masterforex-V Expo embraces dozens of unbiased FX ratings based on 23 independent criteria, including the client feedback and the expert commission’s review.
For convenience reasons, the brokers are divided into 3 leagues. The ultimate league or league A is represented by the most reputable and honest brokers with the best trading conditions in the industry. The second league is for the brokers with minor issues. The 3rd league is for those companies who are basically blacklisted and are not recommended to go with for now.
By the way, there is one of the key criteria that is taken into account in the first place to find out the truth about a certain broker. It is called a test drive.
A test drive by Masterforex-V academy experts implies a comprehensive test of multiple aspects, some kind of informal audit. The traders register accounts, contact support, test various services offered by the company, trade various assets and withdraw funds – all of this is done to make sure the company is loyal to the customer and can be treated as a good option for the average FX trader. No PR, no advertising involved, just simple tests followed by in-depth reports. These reports are then used to make the final decision when considered along with many other criteria.
The final report is published in the Market Leader periodical and is very helpful to thousands of traders, especially beginners since they get objective information about a certain broker and can make up their mind confidently instead of playing guessing games. That’s one of the key benefits such test drives bring all of us.
By now, Masterforex-V Academy has already tested dozens of FX brokers. This time, Masterforex-V Academy is going to test HiWayFX. The broker is licensed and regulated by CySEC, one of the major Europe financial watchdogs. The test drive started on September 24th and is going to last till October 19th. You can track the progress at Masterforex-V Academy’s forum.
Special attention will be paid to the speed of order execution since the company positions itself as the FX broker with the fastest execution in the entire industry (0,2 sec). On top of that, Masterforex-V Academy traders are going to test the following features:
- News trading. HiWayFX says it approves such a trading approach. By the way, the broker claims that unlike most other brokers that execute orders in 500 milliseconds on average (which is long enough to execute the orders properly on volatility spikes triggered by major news), HiWayFX execute client orders at the speed of just 20 milliseconds during major news releases, which almost reduces to nothing the chance of slippage and re-quotes.
- The company makes use of Market Execution, which guarantees order execution unlike Instant Execution. Still, the price can be worse or better than the on stated in the order. This is the best choice for mid-term and long-term traders. The broker claims that the No Dealing Desk (NDD) system is one of they major reasons why HiWayFX traders have been successful.
- Registration speed. The broker claims that it takes just a few minutes to register an account and set it up for trading.
- The quality of the broker’s ECN
- Trading accounts
- Asset index
- Tech support
- Bonuses and promos
- Affiliate program
By the way, if you want more information on HiWayFX, its products and services, you get it by visiting the broker’s official website - https://www.hiwayfx.com/
Good trading!
