Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is Hive Markets？
Hive Marketsis a global brokerage firm based in China. It offers trading services in various market instruments, including Forex (foreign exchange), cryptocurrencies, metals, indices, shares, energies, and commodities. However, it is important to note Hive Markets was not regulated.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Hive Markets Alternative Brokers
There are many alternative brokers to Hive Markets depending on the specific needs and preferences of the trader. Some popular options include:
Swissquote- Swissquote is a reliable online broker known for its comprehensive range of financial services and strong reputation in the industry.
CMC Markets- CMC Markets is a reputable brokerage offering advanced trading platforms and a wide range of instruments, making it a popular choice for both beginner and experienced traders.
Exness- Exness is a reputable forex broker known for its competitive trading conditions, reliable execution, and user-friendly interface, making it suitable for traders of all experience levels.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Hive Markets Safe or Scam？
Hive Markets currently operates without valid regulation, which may raise concerns about its legitimacy and safety as a trading platform. Regulation is an important aspect of the financial industry as it provides oversight, transparency, and investor protection. The absence of proper regulation means that there may be a lack of checks and balances, potentially exposing traders to higher risks.
Market Instruments
Users of Hive Marketshave access to market instruments including Forex, cryptocurrencies, indices and commodities.
Traders have access to various financial markets, including Forex, where they can engage in currency trading and speculate on exchange rate movements.
Cryptocurrencies are also available for trading, allowing traders to participate in the dynamic and evolving digital asset market.
Precious metals such as gold and silver provide opportunities to trade these valuable commodities that are often considered safe-haven assets.
Indices represent the performance of a group of stocks, enabling traders to speculate on the overall market direction.
Shares allow traders to invest in individual companies and potentially benefit from their growth and success.
Energies, such as crude oil and natural gas, provide opportunities to trade these essential resources that drive the global energy sector.
Additionally, Hive Markets offers a range of other commodities, allowing traders to diversify their portfolios with agricultural products, raw materials, and more.
With this broad selection of market instruments, traders can pursue various strategies and capitalize on opportunities across different financial markets.
Accounts
Hive Markets provides a range of account options to accommodate diverse trading preferences. Traders can choose from various account types, including the ECN account, Pro account, Var account, Mini account, and Islamic account. Each account type caters to different trading styles and requirements. Additionally, one of the advantages of trading with Hive Markets is the low minimum deposit requirement of just $10. This low entry barrier allows traders with limited capital to access the markets and start trading with a relatively small investment. It provides an opportunity for beginners or those on a tighter budget to participate in trading activities and gain valuable experience.
The availability of different account types combined with the low minimum deposit requirement makes Hive Markets an attractive option for traders seeking flexibility and affordability in their trading journey.
Leverage
Hive Markets provides a high leverage ratio of 1:500 for all types of trading accounts. This means that traders can control positions in the market that are up to 500 times larger than their initial capital. Such a high leverage ratio offers the potential for substantial gains on even small price movements. However, it's important to note that trading with high leverage also comes with increased risk. While leverage can amplify profits, it can also magnify losses, potentially leading to significant financial consequences. Traders need to exercise caution and employ effective risk management strategies when utilizing high leverage.
It is advisable to thoroughly understand the implications of high leverage and carefully consider one's risk tolerance and trading objectives before engaging in leveraged trading.
Spreads & Commissions
Hive Markets offers different types of trading accounts, each with its own specific features and cost structure.
The ECN account provides a spread starting from 0.8 pips, with a commission per lot from $7.5.
Traders opting for the Pro account can benefit from a tighter spread, starting from 0.4 pips, along with a commission per lot from $8.5.
The Var account offers a spread starting from 1.2 pips without any commission charges.
For those looking for a Mini account, they can expect a spread starting from 1.0 pips, along with a commission per lot from $1.
Additionally, Hive Markets also provides an Islamic account, which adheres to Islamic principles by eliminating interest charges. The Islamic account offers a spread starting from 0.8 pips, with a commission per lot from $7.5.
These diverse account options cater to different trading preferences and strategies, allowing traders to choose the account type that best suits their needs. The choice between tighter spreads and commission-based trading or slightly wider spreads without commissions depends on individual trading strategies and priorities.
Below is a comparison table about spreads and commissions charged by different brokers:
Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.
Trading Platforms
Hive Markets offers a selection of trading platforms to cater to different preferences, including the widely recognized MetaTrader 4 (MT4) platform. MT4 is a popular and well-established trading platform known for its user-friendly interface, extensive charting capabilities, and a wide range of technical analysis tools. Traders can benefit from features such as automated trading through expert advisors (EAs), customizable indicators, and the ability to execute trades across multiple financial markets.
In addition to MT4, Hive Markets also provides the TradeLocker Beta platform. TradeLocker provides quick and easy access to comprehensive trading, order management, advanced charts, and all the portfolio tools you need all in a single customizable workspace.
Overall, Hive Markets trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Deposits & Withdrawals
Hive Markets offers a low minimum deposit requirement of $10, making it accessible for traders with varying budget levels to get started on the platform. To facilitate deposits and withdrawals, Hive Markets supports several popular cryptocurrency options, including BTC (Bitcoin), ETH (Ethereum), XRP (Ripple), LTC (Litecoin), Doge (Dogecoin), and USDT (Tether). These cryptocurrencies provide flexibility and convenience for traders who prefer using digital assets for their transactions.
In addition to the available cryptocurrency options, Hive Markets has plans to introduce additional payment methods in the near future. Coming soon, clients will have the option to deposit and withdraw funds using VISA and MasterCard, allowing for seamless transactions using credit or debit cards. Furthermore, a bank transfer option will also be made available, providing an additional traditional payment method for traders.
Customer Service
Hive Markets relies on 7x 24h live chat and a Help Center section to provide customer support for clients with answers to some basic problems. A FAQ section is also availble, it is valuable resource for finding quick answers to common queries.
While for traders who need help during their trading process, they can only get in touch with this brokerage house through filling up a communication ticket, and then wait to be connected.
Or you can follow this broker on some social media platforms, such as Facebook, Twitter, Instagram and YouTube.
Note: These pros and cons are subjective and may vary depending on the individual's experience with Hive Markets customer service.
Conclusion
According to available information, Hive Markets is a non-regulated China-based brokerage firm. While the firm has some experience in the industry and offers a range of market instruments such as Forex, Cryptocurrencies, Metals, Indices, Shares, Energies and Commodities, it is important to consider certain factors such as lack of regulations that may raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from Hive Markets before making any investment decisions.
Frequently Asked Questions (FAQs)
