About Homefx Plus
Homefx Plus is a forex broker founded in 2022. They are operational around the world. They predominantly offer broker-related trading services, which will focus on this Homefx Plus broker review.
Since they have been in operation, the broker has garnered a lot of feedback from the industry. Our mission with this Homefx Plus review is to present the offering as objectively as possible, allowing you to decide whether or not the broker fits your trading style.
Homefx Plus Account Opening
Opening a Homefx Plus account is a process you can complete with relative ease. This is even true for newcomers to the industry. The first decision you have to make here is whether you should opt for a demo account or a live account.
Opening aHomefx Plus demo account can be a convenient and wise first move, particularly for new traders in the industry or those new to the broker. To do this, you need to complete a couple of basic steps requiring rudimentary personal information. You will then be able to trade on your Homefx Plus demo account.
Opening aHomefx Plus live accountcomes with a slight degree of increased complexity. You have to provide more personal information and verify your documents, such as proof of identity and address. This can all be completed without undue stress, and you should be set up and ready to trade within the hour, provided that your documents are up to standard.
The minimum deposit with Homefx Plus is 5,000 EUR, USD, or GBP, whichever currency happens to be your base. This is very high compared to some in the industry and will likely rule out many new traders immediately.
Account Availability and Account Types
When it comes to Homefx Plus account availability, it would appear to our review team that there are four types of standard trading accounts available at the broker.
Within the standard account type made available by Homefx Plus, you can trade across a vast range of diverse markets. You can select from a cash account or a margin account. The latter allows for trading on margin, but you must be over 21.
Homefx Plus does not accept US traders.
Homefx Plus Product Offerings
At Homefx Plus, it is pretty straightforward what markets and products are offered. There are references made to several figures, including numerous “exchanges” or indexes available worldwide. T
However, the most concrete data we can find points to 300 current market assets available to trade with Homefx Plus. This offering encompasses major, minor, and exotic forex currency pairs, stocks, cryptocurrencies, futures contract trading, and CFDs through their trading platforms.
As a trader, you have an extensive choice when trading through this broker, even though today’s standards limit the main focus of currency markets.
Homefx Plus Commissions And Fees
The fees and commission structure of Homefx Plus can be seemingly competitive in some aspects. These are generally reasonable, with many services like deposits available at no cost when it comes to fees. W
An inactivity fee is also applied to every trader of $100 after 46 days of inactivity.
Homefx Plus Platforms And Tools
This is one area where Homefx Plus performs solid they do offer a limited range of platforms and support for these. but what is provided does the job. You can avail web-based and mobile platforms through Homefx Plus.
web trading Platform
WebTrader’s highly customizable, advanced software allows you to create your trading strategies using its unique MQL4 programming language. WebTrader’s complete technical analysis package with over 50 built-in indicators and charting tools helps to keep you on top of market trends using multiple accounts. You can execute trades manually or with preloaded indicators and automated robot trading strategies. Take advantage of WebTrader’s one-click functionality to ensure your transactions are conducted quickly.
Mobile Trading Platform
The mobile trading application is available when it comes to mobile trading platforms. This is a comprehensive mobile trading platform with a range of charting capabilities fully functional for trading.
It is easy to download on your Android or Apple device and ultimately means that you never have to miss a trade on the go. The app is well laid out in terms of interface, and the overall user experience from our team has been a positive one.
Education And Research
We have reviewed some of the top forex education platforms in the past. Given that, our standards are rather stringent when it comes to education.
The first thing to note here is that with such a high minimum deposit requirement in the first place, many of those who would benefit from a positive educational environment have already been alienated. With that said, they do offer a basic range of videos through their training database along with ebooks.
Homefx Plus Differentiators
One of the significant factors that traders may look at when deciding how Homefx Plus can fit them better than another broker is the MAM account making it an option for a money manager.
MAM (Multi-Account Manager) account allows fund managers to manage multiple accounts from a single account without creating an investment fund. The clients’ managed accounts are connected to the account manager’s main account, and all trades made by the manager are reflected proportionally in the clients’ accounts. The MAM account manager’s performance (profits and losses) is distributed among the managed funds.
- High liquidity, reliable execution
- Fixed, Floating & Raw spread offerings
- Leverage of up to 400:1
- Trade for an unlimited number of clients
Homefx Plus support services are available through a few mediums. The first of these is the web-based chat service they offer. This displayed a fast and efficient resolution to any questions posed by our team. Next are the EU-based hotline numbers available between 8:30 am – 7 pm EU time when the markets are open. Again these displayed a sufficient degree of professionalism when contacted.
Conclusions For Homefx Plus
Considering all aspects of our Homefxplus broker review, it is clear to see how they are slowly building a loyal trader base. The broker provides everything you require to make the best out of forex trading.
This includes a very trusted trading environment, a wide range of available assets among multiple account types, and expensive initial trading costs. Still, this broker is set up for money managers.
Taking into account all aspects of our Homefxplus broker review, it is clear to see how they slowly are building a loyal trader base. The broker provides everything you require to make the very best out of forex trading. This includes a very trusted trading environment, a wide range of available assets to choose from among multiple account types, and initial trading costs that are expensive but this broker is set up for money managers .
- Proprietary online platform that runs on all devices
- Large Education materials
- Professional and multilingual support team available 24/5
- Fast account opening
- Multiple tradable assets
- expensive initial deposit
- No tier1 regulation yet
- No Live Chat
- No desktop trading platform
- Trading platforms & Tools
- Trading experience
- Range of Market
- Customer Support
- Safety & Security