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About company:
Halifax is an Australian broker offering a variety of trading instruments on different trading platforms.
The Halifax brand has several companies that are under regulation. The parent company is Halifax Investment Services Ltd. regulated by the Australian Securities and Investments Commission (ASIC).
There are a number of requirements for companies controlled by ASICs. Brokers must keep clients' funds in a special account, to which specialists do not have free access. This prevents the company from using traders' money for personal gain. In addition, the broker's minimum capital must be AUD $ 1 million. This ensures that the company has business prospects, and is not a one-day one, as most scammers cannot afford to set up firms with such capital.
To serve US customers, Halifax established Halifax America LLC, which is controlled by FINRA, SEC and NFA.
Minimum initial deposit
Halifax does not set a minimum deposit. So, the client can choose for himself how much he is willing to contribute. This is especially convenient for novice traders who are just learning to trade and are less willing to take risks than others.
Average spreads and commissions
Halifax offers floating spreads. The average spread for the EUR / USD pair is about 1 pip. This is a fairly competitive offer compared to other brokers.
Leverage
Halifax offers a maximum leverage of 1: 100 for currency trading. This level is suitable for all trading strategies. On the other hand, Forex brokers currently offer even higher leverage rates, for example 1: 500, which provides great trading opportunities.
Trading platforms
Halifax clients can trade on one of the following trading platforms: MetaTrader (4 and 5), Halifax Trader Work Station (TWS). If you are primarily focused on working with currency, then the choice is obvious. The MetaTrader4 terminal has become the choice of thousands of traders around the world due to its advanced charting capabilities combined with ease of use. MT4 is also suitable for professionals who have access to custom indicators and automated trading systems (experts).
Even if you are a fan of MetaTrader 4, we advise you to try trading on the fifth edition of this platform. Sooner or later, support for the old version will be discontinued, and then brokers will have to switch to MT5. These versions of popular software are quite similar. The biggest disadvantage of MT5 is that it does not currently support all indicators and not all robots. Over time, they will become available in the new version of the platform.
If you want to trade exchange-traded instruments such as stocks, ETFs, futures and options, then the TWS terminal is for you. It has impressive charting capabilities, multiple order types, and its own automated trading environment. This is one of the preferred options for investors looking to buy stocks and build a long-term diversified portfolio. It also has a mobile version.
Education
Halifax provides online and personal training. Seminars are conducted by successful Australian traders who work in modern markets.
Partnership
For those wishing to enter the brokerage market or those traders who want to have additional income, Halifax has developed an affiliate offer. It applies to trading stocks, options, futures, currencies, CFDs. With a broker, various services are available that allow you to promote a business partner in a short time and for a small budget.
additional services
In addition to brokerage services, the company carries out currency exchange. Moreover, all traders can exchange money, even those who do not work with the company. However, Halifax provides its clients with a special advantage - no commission fees on the exchange.
Ways of payment
Halifax only offers bank transfers and credit cards. Although many traders today choose electronic wallets such as Neteller or Skrill for making online transactions.
Support service
Customer support is available by phone 5 days a week on weekdays from 8:00 to 18:00 (AEST). The website has a section that provides answers to frequently asked questions and trading tips. You can also get help from one of the company's offices located in Sydney, Melbourne, Southport, New Zealand and the United States. All addresses and phone numbers are listed on the site.
Pros:
regulation in several countries; competitive spreads; a large selection of trading platforms and instruments.
Minuses:
incomplete information on trading conditions presented on the website; a small selection of payment methods.
HALIFAX is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
HALIFAX profits from traders' trades, usually in two main ways
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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. HALIFAX received a score of 1 of 5 on our resource.