Hirose’s Lion Trader Review 2024: Is it a scam?

Hirose Financial, a UK-based retail foreign exchange broker which is a subsidiary of the Japanese company Hirose Tusyo, unequivocally stands out as a strong choice for traders of all levels and experience. To fully understand traders’ enthusiasm for Hirose, let’s explore the features of the platform, its available assets, and its trading terms.

Pros And Cons

Hirose’s advantages can be summarized in four points:

Pros

• Hirose offers in-depth education through its comprehensive trading catalog and provides expert advisors to its users.
• Aside from being able to reach out to customer support via digital means, you can reach out to the forex broker in their physical office, which is displayed on the website.
• Hirose is well-regulated by world-recognized financial authorities.
• The maximum leverage might be low for most of Hirose’s LION traders.

No broker is perfect. The following are the disadvantages that traders often cite as points of dissatisfaction:

Cons

• Hirose has one of the worst interfaces ever; it’s not interactive, not carefully thought out, and too cluttered with information.

• You can’t separate the information on the website. It’s as if every segment is joined with no proper sectioning.
• Hirose Financial UK does not support Muslim traders.

Safety and Regulation Of Hirose Users

Safety is paramount, especially for a brokerage firm like Hirose. The company aims to establish and maintain a positive reputation among its growing user base, and ensuring the security of users’ assets is a significant part of this.

So, how safe is Hirose? All signs point to a secure platform. For instance, all user funds are stored in separate trust accounts, which prevents them from being mixed with the company’s own money. This practice reinforces the platform’s commitment to safeguarding user assets.

The company is regulated by some of the most prominent financial authorities globally. The Financial Conduct Authority (FCA), a British organization that governs the global economy’s financial sector activities, oversees the broker’s operations.

Its registration under the FCA is 540244. Also, the Financial Service Compensation Scheme (FSCS) will compensate Hirose’s users if the company becomes insolvent.  The compensation scheme covers up to $85,000 of users’ funds held in their trading accounts, and traders are not charged for using the FSCS.

The potential upside of being regulated cannot be understated; it makes me trust the platform more, helps increase usage, and most importantly, grow in revenue.

Training and User Education

Hirose prioritizes user education, using an approach that provides the needed resources for users just starting to help navigate its platform and how to trade using its Demo account. There is a range of trading tools, risk management tools, and features you’ll be trained on here.

Several resources help develop knowledge of the financial market’s workings; there are sections with units under them, such as the Trading Manual, that offer a comprehensive guide to Hirose’s Trading Platforms. There is detailed content on technical analysis, technical indicators, economic indicators, micro-lots, etc.

After registering with Hirose, taking a quick personal examination of the level of your practice training is necessary. This will provide an opportunity to identify your weaknesses as a trader and quickly help you address them.

To aid in this process, Hirose has several materials developed by top professionals:

• Online webinars.
• Seminars in large cities.
• A personal manager for your trading account.
• Technical assistance.
• Analytical materials.
• Consultations on current issues.

The Demo account Hirose Financial UK offers is supported by the company’s partner popular trading platforms, MetaTrader 4 and LionTrader, and registration is required.

Since there are no copy/social trading or investment services like on other popular trading platforms, you shouldn’t expect downloadable strategies to follow, and you’ll have to build your trading systems without relying on Hirose.

Instruments For Trading

One good aspect of being a Hirose user is the wide range of assets and instruments you must select from. These assets are accessible through supported trading platforms, MetaTrader 4 and LionTrader. The asset classes you’ll find range from forex, cryptocurrency, Contracts for Difference (CFDs), and Binary Options.

Hirose has up to fifty (50) currency pairs available for trade via MT4 and Lion Trader. On the binary option trading products, traders can get different commodities, currency pairs, and indices. Contract for Difference (CFDs) is also available for various assets across commodities, cryptocurrency, etc.

Cryptocurrencies available on Hirose comprise the most popular coins, like Bitcoin, Litecoin, and Ethereum. You can be sure of competitive trading fees depending on your trading size.

The spread you’ll get trading on Hirose depends on the trading platform/terminal and the forex pair you choose.

The list of tradable assets isn’t universal and can vary by jurisdiction depending on each country’s laws. For example, Hirose isn’t available in the US and Japan, but is accepted in countries like the United Kingdom, Canada, Qatar, Denmark, India, Germany, South Africa, and Saudi Arabia.

*RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider [Hirose]. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.*

Trading Platforms/ Terminals

Only two trading terminals are supported on Hirose. According to what I found on the website, each trading terminal has been categorized to serve different users, whether you’re a beginner or a professional.

As a beginner trader, Hirose urges you to go for LionTrader. LionTrader trading terminal is available across multiple channels of choice, including PC, Android, iPhone, iPad, and even browser, keeping the platform at your fingertips.

On the other hand, MetaTrader 4 (MT4) is categorized as a trading terminal of choice for traders who have their skin in the game and are experienced traders. With MT4, users get the needed flexibility. As with LionTrader, you can access MT4 through several means on your browsers, PC, Android, iPhone, and iPad.

Both trading terminals have their unique qualities and similarities:

Uniqueness

MetaTrader (MT4):

• Every user gets to trade 46 currency pairs.
• Provides customer support in 30 languages.
• 0.01 Lot equivalent to 1000 units.
• Thousands of expert advisors to choose from
• There’s a customizable indicator

Hirose’s LIONTrader:

• Users get to trade from 50 currency pairs.
• Limited languages for customer support.
• 1 Lot is equivalent to 1,000 units
• Multiple, but limited, expert advisors to follow
• There’s no customizable indicator

Similarities of MetaTrader (MT4) and LionTrader

• Both platforms have a fast execution speed.
• The competitive spread in the market charges no commission fee.
• Great tools such as risk management tools and charting tools for scalping and edging.
• Provides 50 in-built indicators to trade with.
• You get a margin of 3.3% for major pairs and 5.0% on minor pairs
• maximum Leverage level up to 1:30
• Minimum order distance of 3 pips
• A demo account is available

Tools on Hirose

One would assume the “tool” segment on Hirose will examine different plugins that can be used with the broker. However, that’s not the case; the “tools” section gives a detailed explanation (in video format) about certain features of the broker.

One element of Hirose you’ll appreciate is that on the Hirose website, you’ll get a video that explains how to sign up. This is accessible when you click on the tool section of the site.

When you click on the subsection basic orders, in this segment, you’ll see three sections which are open order, closing order, and modifying order, with several video tutorials explaining the concept under these segments, including a market order, entry limit order, closing with a market order, and modifying pending orders.

Account Replenishment and Withdrawal of Funds

The processes of depositing and withdrawing on a trading platform should be smooth and fast. Therefore, it’s essential for brokers like Hirose to offer multiple options for account funding and ensure a seamless withdrawal process.

Hirose has excelled in this area, ensuring that both depositing and withdrawing are simple and hassle-free. This sentiment is corroborated by client reviews. Some of the deposit and withdrawal methods available on Hirose include:

• Plastic cards, debit, and credit cards (Visa, MasterCard, or Maestro).
• UnionPay.
• Bank wire transfers.
• Skrill.
• NETELLER.
• Fasapay.

Here’s a sample of the withdrawal request form, where you’ll fill in specific information about yourself and the withdrawal amount. Customers may be charged a conversion fee for changing between currencies, to be determined by the broker.

Hirose also charges different fees for withdrawal depending on the method of withdrawal as well as the currency you’ll be withdrawing in. There’s a minimum withdrawal amount, which isn’t the same for all platforms.

The Neteller withdrawal amount is 20 USD, 20 GBP, 20 EUR, etc. The maximum withdrawal amount is also set at $5,000 for every transaction.

Withdrawal minimums vary based on the chosen method. For international wire transfers, the minimum withdrawal is $50, while for credit/debit cards, PayPal, or Skrill, it is $20.

Transaction fees differ by payment method. Some transactions are free, while others incur a charge of 0.5%-1% or a fixed £8.50 per transaction. Importantly, Hirose prides itself on transparency, with no hidden costs.

There may be rules specific to methods like local or international wire transfers. Check the image above for more details.

In the case of a deposit, the rules are very similar. You can use different payment methods and pay in three different currencies. The processing time differs by method; Neteller takes 15 minutes, while wire transfer takes days to process.

Of course, before opening an account as a new trader, you should carefully examine the conditions in effect on the day of creating a future trading account. This is due to the high speed of information exchange, hidden bankruptcies, etc. It’s important to note that the time for completing a transaction varies for the different deposit or withdrawal options.

Customer Support

Reliable client support is crucial for any platform. Without readily available assistance and comprehensive information in sections like the FAQ, the platform is likely not worth using.

Hirose’s customer support meets all expectations. Their team is available 24/5, from Monday to Friday, between the hours of 9 AM and 10 PM GMT. The support can be reached through various means, including the company’s official mobile number, email address, Skype, live chats, and contact forms.

In addition to their direct support, Hirose provides informative sections that answer common questions and offer insight into technical inquiries.

One standout aspect of Hirose is the accessibility of its physical office. Besides reaching out through digital means, customers can directly connect with the broker at their physical location, with the address available on the website.

Basic Parameters of Hirose

Hirose’s requirements for usage are straightforward. For new users, required documentation may include government-issued identification and proof of residential address.

No minimum deposit is required to set up an account with Hirose UK, and the platform doesn’t categorize users into different account types – a feature that aligns with many other brokers. New users can look forward to a sign-up bonus upon completing certain actions, typically credited within 1-2 business days.

Hirose’s usual spread is low, closely mirroring the market price, although it can fluctuate due to factors such as economic news or at the close of the trading day. A variety of trading tools are available to help manage these situations.

Hirose Financial UK, an online platform, also supports the use of forex robots and automated trading systems. Overnight fees are applicable to users who hold trades beyond a single trading day. Note that other platforms typically only charge these fees to Muslim traders.

More Details about Hirose

Hirose Financial UK Ltd. is a high-rising brokerage company that has existed for decades. The company, founded in 2010, is a subsidiary of the Japanese financial services company Hirose Tusyo Inc. and has been operating since 2004.

Hirose’s solid background in the financial and brokerage arena assisted in expanding into several hundred countries and growing its client base to over 200,000 customers worldwide. The company is headquartered in London and became the first Japanese brokerage company to acquire a Financial Conduct Authority (FCA) license.

The broker has made itself highly usable by creating a mobile platform and a desktop site that is available and accessible to everyone. Hirose ensures that customers’ privacy, identity, and users’ funds and assets are kept safe through well-designed security features.

In addition, users can expect high-speed data processing when interacting on the platform. Hirose is well known for its tight spread and no commission charge.

A great way to identify a holistic brokerage company is from the suite of opportunities it offers its users, such as the support of trading platforms. To that end, Hirose currently supports two notable trading platforms, MetaTrader 4 and Lion Trader, which are available on iOS and Android devices for trading on the go.

Hirose maintains high-quality training and a resources library. There is also a Demo account for users to test their knowledge and understand how trading works by practicing before going live.

Should I Sign Up With Hirose?

Before committing to any platform, it’s crucial to thoroughly review the site’s operating conditions and confirm their track record is free of fraudulent activities. Keep a close eye on the broker’s growth and development to ensure your transactions yield reliable returns.

Hirose has managed to distinguish itself among its peers. With over 200,000 client accounts and a staggering trading volume of $76 billion, it has a prominent place in the market.

Some of the most notable benefits of using Hirose include zero commission, no spread, a user-friendly interface, and comprehensive regulation by the FCA. Additionally, its robust training library is a major plus for users.

However, Hirose is not without its shortcomings. There are relatively few reviews about the company, limiting potential users’ understanding of its overall performance.

It also lacks a presence in key markets, like the United States, and does not support advanced trading platforms such as MetaTrader 5 or social trading platforms. If you have any reservations, it’s prudent to conduct further research.

Frequently Asked Questions (FAQs)

What is The Minimum Deposit on Hirose?

Hirose is a zero-deposit brokerage company. You’re not required to pay any deposit, and you can choose from the different deposit methods.

Can Hirose be Trusted? 

Yes, Hirose is safe to use. The broker is regulated by one of the most recognized authorities, Financial Conduct Authority (FCA), and also has a compensation scheme handled by Financial Service Compensation Scheme (FSCS) in case anything goes wrong. The trading volume is significantly high on Hirose, which is a good indicator of trustworthiness.

How Good is Hirose?

It depends on the features you watch out for and how you expect it to function. However, from my interaction with the broker and time spent researching its features and interface, it’s a solid choice.

How Many Trading Terminals are Supported on Hirose?

The two supported platforms on Hirose are LionTrader and MetaTrader 4 (MT4). It’s not certain if more terminals will be added moving forward.

How Long Does it Take Time to Complete Deposit and Withdraw on Hirose?

Depending on the method you choose, you’ll have a different time to process your deposit or withdrawal. Some are instant, while others might take up to 5 working days.

What Can I Trade On Hirose?

From currency trading to margin trading to binary options trading, novice and advanced traders have much to benefit from Hirose UK – the FCA-regulated forex broker.

Novice traders should be careful and can use the 50 built-in indicators such as the technical analysis indicators combined with training resources such as the educational videos provided.

Conclusion

Hirose is a brokerage platform I would highly recommend to forex traders, time and time again. There are no stringent prerequisites to get started. That being said, the platform’s interface, which sometimes feels cluttered and overly persuasive, slightly detracts from its overall appeal.

However, Hirose compensates with comprehensive educational resources. From platform usage tutorials to guidance on developing forex trading strategies, the broker ensures users are well equipped. Various articles demystify complex forex terminologies, empowering users to confidently navigate the industry.

Furthermore, the platform’s 24-hour customer support is flawlessly implemented to provide continual assistance to users. Coupled with its lightning-fast order execution, Hirose remains unrivaled in many respects.

In conclusion, despite a less-than-ideal interface, Hirose stands as a highly reputable brokerage platform.

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