Hirose Financial UK is a binary and forex broker that offers margin trading through a bespoke online platform (utilising MetaTrader4), plus binary options trading via LION Trader. The firm offers an attractive proposition for anyone trading forex or binaries. Our review will detail the benefits but also the potential weaknesses. We explore fees, trading platforms, mobile apps, regulation, and more.
The forex brand is one of the world’s largest over the counter providers, boasting over 200,000 clients across the globe. This international success saw the opening of Hirose UK in 2010, and a number of other subsidiaries – but LION binary options are operated by Hirose Financial.
Hirose do not provide a dealing desk (NDD) or straight-through processing (STP). Instead, orders from traders are routed directly to liquidity providers, such as banks. The company are also not market markers.
The platforms us floating spreads. These vary based on the type of account used (Gold and VIP accounts see the smallest spreads). The EUR/USD pair can see spreads of 1.9 on the MetaTrader platform. This model also ensures trading is commission free.
• Demo Account – Yes
• Signals – Yes
• Minimum Deposit – $20 (Some deposit methods will carry a higher minimum)
• Minimum Trade – $1
• Bonus details – Yes, offers vary by region and account type but include 50% deposit bonus
• Mobile apps – Yes. iOS, Android and Windows
There are two platforms offered, depending on the instrument used: LION Trader and the industry standard MetaTrader 4 system.
The LION trading platform has seen many developments and improvements, shaping the business. However, the system is based on the ‘Act Forex’ system, making trading available over numerous terminals.
User feedback is generally positive in terms of usability and execution speed. There are 50+ built-in custom technical indicators, and automated trading ‘bots’. Oracle Coherence is an in-memory data grid which the firms uses to improve trade execution performance.
The trading area is slick and straightforward, which makes it simple for beginners or novices to pick up. There are also a range of strategies provided by LION to give new traders a starting point. Trailing orders can also be opened and left to run when the platform is closed. Scalping or hedging strategies can be implemented in an uncomplicated way on the LION platform.
The trading area represents a solid choice for traders of all experience levels. Hirose deliver both a desktop version (via a download) and a web based version. The company suggest the desktop version delivers quicker execution, but the web trader performed well too.
Hirose’s LION Trader delivers a familiar toolbar system. Those option facilitate market analysis and order placing. The High / Low buttons open or close trades as required. Any open positions are listed in the ‘open trades’ window. There is also a ‘Close’ button for early closure of any options – either locking in profit or cutting losses.
There are also Stop or limit entry order setup options. Likewise, trailing stops can be added to open positions. Using the Modify button opens options to alter the price. Hit Remove to cancel a current order. If you want to activate an alert, hit Price Alert. A confirmation pop-up will clarify any changes.
Lion also deliver a comprehensive platform education package that can be accessed anytime.
For forex traders, the MetaTrader4 platform offers experienced traders the choice of using advanced charting and technical analysis indicators. There is also the ability to back test a strategy or automate trading. As MetaTrader4 is a widely used platform, there is a great range of online resources to help traders get the most from the platform.
Using MetaTrader 4
The order window allows opening and closing of trades. Select the required asset, and the desired trade size and direction and the intuitive design will lead naturally to each step.
Alternatively, right click on any price action chart, click Trading and use the New Order button to run through the same steps.
The terminal window shows open trades. It also shows other account information such as balance and current profit and loss. Margin levels, stop losses and take profits levels can also be found in this section.
Mobile trading apps are available on iOS, android and Windows. They can be downloaded anytime, but you will need to have an open account with Hirose Financial (LION binary options) before you can login.
LION Trader App Features
The mobile app delivers customisable charts and total account management. Micro lots can be traded on the mobile platform and the mobile account syncs to any desktop of web based version in real time. The full list of assets and markets is available in the mobile version and customer support can also be contacted via the app.
The MetaTrader app does not require a login, but will need to be linked to a broker of some sort to actually place trades. It can be downloaded from the usual app stores.
The mobile version includes 30+ technical indicators, and customisable watch lists – to make staying up to date easier. Trade history is available, as are the latest price quotes. All the trading options are available via the mobile platform, including the ability to trade directly from a price chart. Trading volume – a key element of predicting price movement – is also available in the app.
The mobile charting is a clear strength. Each chart can be zoomed or scrolled or the date range amended etc. Likewise, multiple timeframes are available and can be switched easily (1,5,15,30 minute intervals, or 1 or 4 hours and of course daily).
LION Binary Options
The binaries offering at LION is limited to the traditional High/Low. Expiries are offered between 30 seconds (turbo) and 60 minutes. Payouts can reach 90% but will vary based on trading volume and the asset. Options can also be closed early if desired.
Forex pairs are the asset class with greatest coverage, with over 40 available. Trading hours will reflect the market of the asset being traded, or in the case of forex, one of the major markets (Sydney, New York, London etc) being open for trading.
Withdrawal & Deposit Options
LION Binary offer a number of deposit and withdrawal options, but there are differing minimum deposits with some methods:
Debit/credit cards (Visa, MasterCard, Maestro) and bank wire transfers both require a minimum of $50
Popular e-wallets like Skrill and Neteller are both options, with a minimum deposit of $20
UnionPay (minimum deposit 100 CNY)
Fasapay carries a minimum requirement of just $10
The customer support team can handle funding questions if any arise. As always, it is a good idea to meet identification requirements before requesting the first withdrawal. This avoids delays and disputes.
The LIOn education area includes a number of general trading guides, as well as advice on strategy. Charting help guides are also supplied – these can be useful when trying to navigate the wealth of technical analysis indicators available. These resources are all provided free of charge. Bear in mind any broker is keen to have their clients trading, so beware of any advice that looks like it might lead to over-trading.
There are also a range of video tutorials which can be a good way to get used to the platform. One is included below.
Bonus / Promotions
Hirose Financial offer a number of bonus deals and promotions:
• $20 no-deposit bonus
• Welcome (deposit) bonus of up to $500
• $10 ‘refer a friend’ scheme
Bonus terms and conditions do change, and are also often region specific, so do check before sign up if the bonus is a key part of your reasoning to join Hirose.