Are you interested in the Hyrotrade platform , but don’t want to send money to an unknown company? Then you’ve come to the right place! In this review, we will show you, among other things, how trading at Hyrotrade is done or what fees the operator charges for its services.
Table of Contents
- Basic information
- Fee structure
- Financial leverage
- What does the Hyrotrade platform offer?
- Does it pays out?
Registration -> https://my.hyrotrade.com/register
Hyrotrade has been on the market for a relatively short time (approx. 3 years), but during
that time the platform managed to collect a large portfolio of clients, and we tried to be one of them.
There are 4 languages on offer.
The platform and the website belong to a company based abroad, namely St. Vincent & the Grenadines, but the fact that only cryptocurrencies are traded on it is not unusual, moreover, Hyrotrade has undeniable ties to the EU just because most of the languages available on the platform is European.
The creation of the account and the first deposit took place quite quickly and in order, just be careful that one payment cannot be sent twice to the generated crypto wallets, it is necessary to generate a new wallet each time. Therefore, these are not static wallets, but only deposit wallets, which are used for only one transaction. If you don’t follow this you can lose your crypto. Deposits on the platform can be made only via cryptocurrency. So after registration you will need to visit your exchange or wallet if you want to trade.
According to our findings, Hyrotrade does not pay larger margins for spreads or swaps, but they have a commission fee of 0.05% for each open trade, which corresponds to the ratio on regulated forex platforms.
The financial leverage is quite high – 1:100, but on the other hand, compared to other platforms that we tried, which offer up to 1:1500, this is quite acceptable. You just must be careful about the risk when trading on this leverage.
What does the Hyrotrade platform offer?
At Hyrotrade, you can use your cryptocurrencies to speculate on the rise / fall of various cryptocurrency pairs using the CFD contracts. Trades are settled immediately.
They also offer the so-called “social trading” where you can copy the trades of other investors
who have been active on the platform for some time and have a trading history behind them. The only thing to watch out for with this one is that you need to find a trader with similar capital to you. If you don’t have it, the trades won’t go through.
Does it pays off?
We have been using the platform for some time and it felt fine, the only thing we encountered as a minor hitch was when requesting to pay out profits. We received an email asking
us to provide ID and proof of address. The process took some time (about a week), but at the end we got our profits.
If you are interested in Hyrotrade, you can register here – https://my.hyrotrade.com/register
they also offer the option of a DEMO account, so you can try the platform for free.
Pros -> Simple, easy-to-use platform
It supports more than 90 crypto pairs
Variety of languages
Cons -> Waiting period for payout of profits
Forex, commodities and stocks are missing