Hms Markets belongs to one of the oldest forex trading and inter-dealer brokerage companies HMS Lux SA which is headquartered in Luxembourg, and has been around since 1972. HMS Lux SA offers its services not only to individuals engaged in forex trading, but also to large banks, hedge funds and other brokerage firms.
HMSLux site can be accessed both in English and French.
Hmslux.com functions under the regulatory approval of Commission de Surveillance du Secteur Financier Luxembourg (CSSF) and is also a member of the Deposit Guarantee and Investor Compensation Scheme in Luxembourg.
Using its electronic trading platform, HMS Trader 2, hmslux brokerage company connects individual and institutional clients to the international financial markets. Therefore Hmslux is well regulated in the country of its origin.
Hmslux offers its clients a stable spread which for example is 2.5 pips for EUR/USD. Apart from that no other commission is levied. You can trade more than 160 plus currency pairs using the HMS Trader platform and for honing your forex trading skills you can use the demo platform for 20 days free of cost. For opening a standard account you need EUR 10,000 and there isn’t any provision for mini accounts. You could fund your account by wire transfer.
In the case of leverage, hmslux has an interesting way of going about it. The maximum leverage offered is different for weekdays and weekends. For example in the weekdays the maximum leverage is 50:1 (2.5%), and for weekends it is 25:1(5%)
Hmslux offers three types of trading platforms namely, HMS Trader, HMS Web Trader, and HMS Mobile Trader. All three platforms are supported with 128 bit SSL encryption technology, and therefore you can rest assured about the safety and privacy of your forex transactions, whichever platform you use.
Importantly you can easily switch between the HMS Web Trader, HMS Trader platform, and HMS Mobile Trader, with the same login details.
Let’s look into the functionality of each of these forex trading platforms.
This platform needs to be downloaded and installed. Using this platform you can trade in addition to forex, CFD’s, stocks and futures (i.e. 200 plus futures in 16 exchanges). This platform has facility of advanced charting, fast order execution, technical analysis summary, and market news feeds. Besides, you can fully integrate it with the other platforms HMS Web Trader, and HMS Mobile Trader. So what you get is a comprehensive platform that covers all asset classes. But remember the minimum account size for using this platform is EURO 10,000 or its equivalent and more importantly the minimum trade size for forex transactions is US $5000. So if you don’t have adequate capital you couldn’t be using this platform.
HMS Web Trader
You don’t need to download this platform as it is web based, and you can operate it using any browser and PC but you must have Java installed. However the minimum account size and the trade size for forex transactions is the same as that for HMS Trader. This trading platform also covers all the asset classes as HMS Trader (except forex options), the only difference being that it is web based. You have the option of using HMS Web Trader along with HMS Trader and HMS Mobile Trader.
HMS Mobile Trader
HMS Mobile Trader is basically an add on for HMS Trader and HMS Web Trader as it gives you a sort of “on the go” access to your forex trading accounts in HMS Trader and HMS Web Trader platforms. That’s all there is to the HMS Mobile Trader. You can use this platform through most browser-enabled mobile devices like iPhones etc. However using this platform you only get basic charting and market news feeds. Access to technical analysis and economic calendar is not possible, and order execution is also not that fast. Let’s just say it has an intuitive trading interface which allows you to check your account status and manage your orders on your mobile phone when you are traveling for example.
If you want to telephone hmslux the best time to do that would be between 08:00 CET to 22:00 CET on business days, because that’s when their offices will be open in Luxembourg.
At all other times the best thing to do would be contact them via email, and they have an efficient way of answering to your emails.
The hmslux site is well laid out, and you can easily get whatever information you were looking for. So there isn’t any problem with the layout of the site as such. But what’s more interesting are the special features in the trading platform that allow you to navigate through the platform at an amazingly different level. For example, you can move and reposition the trading modules and charts in whichever way you want. All the charts are scalable, draggable and zoomable, so you could for instance drag the charts to look at past data.
Everything around the hmslux trading platform is built around flexible architecture, which means that although you have a single price board giving the prices of stocks, forex and CFD’s and so on, you can hide modules when you don’t use them or you could customize your entire trading platform layout. In other words, you can choose your own way to navigate through the platform.
Live two-way chat facility with the HMS Helpdesk is available at the site, so that’s an advantage in sorting out pressing problems that may crop up while trading. Besides you can use one account via three different platforms, and that’s the best part with HMSLux.
If you are looking for a mini forex trading account, then HMSLux is not the one for you, as they don’t have any facility for opening mini account.
None of the HMS Trading platforms provide the option of “trailing stops”, so may be for a seasoned trader that could be a disadvantage. You also cannot do hedging with a particular currency pair, using any of the HMS Trading platforms.
However, hmslux is certainly one of the best forex brokers in the business.