Pros & cons of House of Borse broker

House of Borse Fact sheet

House of Borse is a regulated broker under the UK’s Financial Conduct Authority (FCA). The broker is part of the compensation fund and uses segregated accounts for client money.

The segregated bank accounts that the client funds for House of Borse go into include banks such as Barclays Bank PLC and Citibank. This ensures that client funds are untouchable by the broker and are saved on separate tier-1 bank accounts. The broker acts as a true middleman between traders and liquidity providers and does not take any responsibility for clients' debts, which means there is no negative balance protection. This is a double-edged sword, as it reduces conflict of interests to minimum levels, but traders will have to exercise extra caution not to lose more than they have on their accounts when trading with leverage. 

There are three tiers for the main account on offer that depend on the volume traded during the month, namely Silver, Gold, and Platinum trader account tiers. For the Silver Trader account, the average monthly volume should be up to 100 million dollars. The commissions are reduced the more volume the trader accumulates during the month. The Silver account has a commission of $7 per lot. Gold account status is applied to traders when the accumulated monthly volume is between 100 million and 1 billion dollars. The commission for the Gold account is reduced to $6 per lot. The cheapest type of account to operate is the platinum account, where the commission is reduced to $5, but the monthly volume must exceed 1 billion dollars to be eligible for this account type.

The minimum lot size is 0.01 and the minimum deposit is 2,500 USD. Since the leverage is 1:100 the broker offers the ability to trade with a micro account-like environment, but with a relatively high budget. Expert Advisors (EAs) are allowed. EAs are automated trading systems that can be run and have the potential to automate the whole trading process. House of Borse also allows hedging on all account tiers. 

Comparing House of Borse fees with other brokers

House of Borse fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

House of Borse fees compared to CM Trading fees

House of Borse fees compared to plus500 fees

House of Borse fees compared to XM fees

House of Borse fees compared to AvaTrade fees

House of Borse fees compared to Capital.com fees

The trading platform at House of Borse is MetaTrader 5 (MT5) which is a more modern version of MT4. MT5 is an advanced trading platform with numerous inbuilt indicators and advanced functionality. Since the broker allows hedging and EAs, it is possible to use MT5 to its fullest extent. Mobile trading is supported for all devices and the platform comes with the MT5 mobile app that can be used with the same credentials as the desktop software. This makes it possible to trade on the go and also to trade on a desktop with the same account, giving flexibility to traders. 

There are no educational materials offered by the House of Borse broker, which is understandable as their main target are professional traders who trade large volumes and have a good understanding of financial markets and the trading process. There are research tools provided, including an economic calendar. All in all, the House of Borse is not recommended for beginners as negative balance protection is also not provided. But for experienced traders, the broker has excellent services and low spreads and commissions. 

A number of support options are available on the broker’s website including telephone number, email, and leaving a message. The live chat is conducted via WhatsApp which is inconvenient and the broker doesn't reply quickly which makes this type of communication almost useless. The best way to contact the broker is through a phone call.

House of Borse is a regulated Forex and CFDs broker operating and regulated in the UK. The broker offers about 89 trading instruments in various asset classes including Forex, commodities, indices, and stock CFDs. With a leverage of 1:100 and spreads as low as 0.2 pips. As such, it is possible to trade with any type of strategy on House of Borse via the MT5 desktop and mobile app. There is no negative balance protection as the broker is just a middleman between traders and liquidity providers, reducing the conflict of interests to a minimum. Other noteworthy aspects include their support not being very responsive on WhatsApp, and it is better to use a phone call to contact the broker. There are no educational materials, and research tools available are also limited to the economic calendar. House of Borse mainly targets professional traders who are already experienced in trading financial markets.