What’s House of Borse?
House of Borse was established in 2001 and has become a renowned broker with great service, that aims to offer transparent quality conditions to its clients.
The brokerage’s services were uniquely crafted and tailored to the needs of skilled clients, as it offers access to Tier 1 banks and institutional liquidity via ECN connectivity. House of Borse offers financial instruments like Forex, indices, and commodities and offers tight spreads.
House of Borse is well established amongst its peers due to the professional services it offers to clients in the United Kingdom and the Middle East. The broker has gone through a tough period of deleveraging, recessions, etc, but managed to hold a strong position in the industry.
Is the broker secure?
House of Borse is licensed and authorised by the FCA.
Becoming an FCA regulated company requires the broker to comply with tight operating standards with high capitalization and strong safety measures. Also, the FCA continuously monitors and audits House of Borse to ensure the safety of the client’s funds which are kept in segregated accounts, which means that company funds and client funds are kept separate. The broker only uses top Tier Banks. In the case of the broker’s insolvency, the compensation fund of the FSCS will compensate the claims of the clients.
House of Borse offers the popular MetaTrader4 (MT4) and MetaTrader 5 (MT5) to its clients. MT4 provides a customer-friendly interface that allows all tools to be accessible from a single interface. The platform also offers robust resources and analysis features.
MT5 is a highly personalized trading platform with enhanced efficiency as well as improved charting and research features.
MetaTrader platforms can handle positions fast and effectively, and allow traders to use Expert Advisors (EAs) for automated trading. Both platforms are available all operating systems and on mobile, either iOS or Android. In addition, the House of Borse supports PAMM systems.
Account types at House of Borse depend on how much you trade, and the broker charges commission on all account types. The account types available are the Silver Trader Account, the Gold Trader Account and the Platinum Trader Account.
By offering ECN access to markets and quotes, the broker offers variable interbank spreads starting at 0 pips plus commission based on the account you trade from. Commission is charged for every USD 100,000 traded – you can see in the table how much is charged per account.
House of Borse may charge rollover or overnight fees in the event of a position being held open for more than 24h. Every instrument sets a different ratio and can either serve as a refund on your behalf or be deducted as a charge.
The broker does, however, provide interest-free accounts which are known as swap-free accounts where a fixed management charge is incurred to an open position:
House of Borse is obliged to cap leverage at 1:30 for retailers and up to 1:100 for professionals.
Methods of Funding
If you agree to open an account with House of Borse, your next move is to deposit funds. You can submit money by bank wire transfer or by credit card.
The broker has a very high minimum deposit: $5000. This is because the broker is focused on professional and institutional clients.
Fees for Withdrawals
The broker does not usually incur charges for deposits or withdrawals, but the payment provider’s fees are. Therefore this will depend on your bank and country.
House of Borse is a good choice if you are a professional or a corporate customer. Novice traders will find the minimum deposit far too high.