Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

HiWayFX
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT HIWAYFX
Windsor Brokers
9.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT WINDSOR BROKERS
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

HiWayFX is regulated by CySEC. HiWayFX have provided Forex, Binary Options trading services since 2014.

Windsor Brokers is regulated by FCA, CySEC. Windsor Brokers have provided Forex, Spread betting, CFD trading services since 2005.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 4 years in business
  • Yes
  • Yes
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters 152, Franklin Roosevelt Avenue, 3045, Limassol, Cyprus Limassol, Cyprus Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading No Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 59
Commodities Offered 16
Stocks Offered 99
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No Yes Yes
FTSE No Yes Yes
Dow Jones No No Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No Yes
MT4 Mac Yes No Yes
WebTrader No No Yes
Mirror Trader No Yes Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms Gwazy Gwazy AvaTradeAct, AVAOptions

APPS

iOS image No Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes No
Available Languages

English, French, Arabic, Greek, Russian, and Indonesian

English, Chinese, and Arabic

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by HiWayFX and Windsor Brokers

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No Yes Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account Yes Yes Yes
Zero spread account No No No
VIP account No Yes Yes
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server Yes No No
Direct market access Yes Yes Yes
STP broker Yes Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade 100 lot None None
Min deposit $20 $100 $250

RISK MANAGEMENT

Stop losses No No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No No Yes
Price alerts No Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time 3-5 business days 1 business day Varies
Withdrawal processing time 1-10 business days 1-5 business days Varies
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number + 44 3308 280 893 357 25 500 700 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website https://www.hiwayfx.com/ http://www.windsorbrokers.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) Not offered Not offered 1.3 pips
GBP/USD (Average: 1.1 pips) Not offered Not offered 2.0 pips
USD/JPY (Average: 1.1 pips) Not offered Not offered 1.5 pips
AUD/USD (Average: 0.8 pips) Not offered Not offered 1.8 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 2.0 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 2.5 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 2.8 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 2.0 pips
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission No No No
Deposit Fee No Varies No
Withdrawal Fee No Varies No
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.hiwayfx.com/. Last updated on 01/10/2019.

All information collected from http://www.windsorbrokers.com/. Last updated on 01/10/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

Company

HiWayFX is an online forex trading service provider. They are regulated by CySEC. To open an account with HiWayFX, minimum deposits start from £/$20.

With HiWayFX you can trade Forex, indices, energy, and metals. If you like to trade on the go, HiWayFX have iphone and android apps so you can trade from anywhere on your phone.

HiWayFX offer MetaTrader 4 for Windows, MetaTrader 4 for Mac, MetaTrader 4 for Android, MetaTrader 4 for Android platforms to make your trades and support 4 different languages.

The spreads offered by HiWayFX for the most popular instruments are:
0.8 EUR/USD, 1.0 FTSE 100, 17.0 GOLD,
0.9 GBP/USD, 2.0 DOW/JONES, 5.0 Crude Oil,
see all the spreads here.

Windsor Brokers is an online forex and binary options trading service provider who are regulated by CYSEC, FCA, AMF, BaFin, MiFID. To open an account with Windsor Brokers, minimum deposits start from $100.

With Windsor Brokers you can trade Currencies, precious metals, indices, commodities, and energies. If you like to trade on the go, Windsor Brokers have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Windsor Brokers offer Gwazy Platform, Windsor MT4, Mobile Trader platforms to make your trades and support 6 different languages

The spreads offered by Windsor Brokers for the most popular instruments are:
1.6 EUR/USD, n/a FTSE 100, 0.45 GOLD,
2.6 GBP/USD, 2 DOW/JONES, 3 Crude Oil,
see all the spreads here.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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HiWayFX or Windsor Brokers?

ECN execution or offers VIP accounts ?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), HiWayFX is likely the better choice. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Windsor Brokers to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

HiWayFX is regulated by Unregulated, while Windsor Brokers is regulated by CySEC.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

HiWayFX has been around for 5 years, while Windsor Brokers have been around for 14 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both HiWayFX and Windsor Brokers use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both HiWayFX and Windsor Brokers are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

HiWayFX are based in 152, Franklin Roosevelt Avenue, 3045, Limassol, Cyprus, while Windsor Brokers are based in Limassol, Cyprus .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both HiWayFX and Windsor Brokers offer forex trading. Also, if you’re looking to trade cryptocurrencies,

neither HiWayFX nor HiWayFX offer commodity trading.

Windsor Brokers also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both HiWayFX and Windsor Brokers offer this. Our alternative broker, AvaTrade, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. Windsor Brokers, for example, offer a mini account, standard account and VIP account.

For Muslim traders, HiWayFX offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

HiWayFX does allow scalping and hedging. While Windsor Brokers also allows scalping and hedging. You can't trade with EAs (expert advisors) on HiWayFX but you can trade EAs (expert advisors) with Windsor Brokers.

In terms of risk management tools, neither HiWayFX or Windsor Brokers offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

HiWayFX accept Neteller while Windsor Brokers accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, HiWayFX and Windsor Brokers both charge points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: HiWayFX or Windsor Brokers?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Windsor Brokers is more reliable based on our criteria above. Windsor Brokers has a wider range of instruments to trade. Windsor Brokers offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.