Reading time 8
What is Hxro
Hxro (pronounced “hero”) is a social trading network and cryptocurrency trading platform that offers customers a streamlined user experience for trading a range of cryptocurrencies. All categories of traders, from novices to seasoned traders, can trade cryptocurrencies thanks to Hxro. The trading platform provides a number of tools and features to aid users in making knowledgeable trading decisions, such as a news feed, a sentiment gauge that tracks the general sentiment of traders in real-time, and a number of technical indicators.
The ability to trade utilising a special commodity called a “Binary” is one of Hxro’s primary advantages. With a binary option, traders can make predictions about the price of a cryptocurrency for a finite amount of time, such the next five minutes.
Because binary options offer a predetermined payoff, traders may place trades knowing exactly how much they can gain or lose. For individuals who prefer to purchase and sell cryptocurrencies directly, Hxro also provides conventional spot trading.
Hxro also includes a social trading network called “MoonRekt” where users may follow other users, post their own trades and trading techniques, and exchange knowledge. Hxro has garnered popularity among traders searching for a more efficient and user-friendly way to trade cryptocurrencies due to its novel approach to the field.
The history of Hxro
Rob Levy and Dan Gunsberg established Hxro in 2018. With their vast experiences in technology and finance, Gunsberg and Levy recognised a chance to give bitcoin traders a more straightforward and user-friendly trading experience.
2019 saw the launch of the Hxro platform, which gives users a variety of tools and features to facilitate more efficient cryptocurrency trading. The platform’s distinctive binary options product immediately became well-liked by investors seeking a fresh approach to make predictions about the value of cryptocurrencies.
The social trading network that Hxro introduced in 2020, called MoonRekt, enables traders to communicate with one another about their trades and trading methods. MoonRekt has grown to be a well-liked cryptocurrency trading community and has aided in setting Hxro apart from other trading platforms.
Hxro raised $15 million in a Series A investment deal in 2021 that was organised and sponsored by Blockchain Capital. The money went into improving the site and growing its selection of services.
Hxro is still a top cryptocurrency trading platform today and is renowned for its user-friendly design and cutting-edge trading philosophy. The organisation, which has its main office in San Francisco, California, has a group of skilled developers, traders, and entrepreneurs working to provide its users additional products and tools.
How Hxro works
Users of the Hxro cryptocurrency trading platform can trade a range of cryptocurrencies utilising a user-friendly interface. To assist customers in making wise trading decisions, the platform provides a variety of tools and features.
Here is how Hxro functions:
Join now: Users must register for an account before they can begin trading on Hxro. It simply takes a few minutes to sign up, and the process is simple.
Donate to your account: After registering, you can add money to your account using a cryptocurrency like Bitcoin or Ethereum. Through its collaboration with Simplex, Hxro also enables deposits made in fiat money.
Choose a profession: Binaries and spot trading are the two categories of trading products offered by Hxro. While spot trading enables traders to purchase and sell cryptocurrencies immediately, binaries are short-term options contracts that allow traders to speculate on the future price of a cryptocurrency over a brief period of time.
Establish your limits: When trading binary options, traders decide which cryptocurrency, how long the trade will last, and how much money they want to risk. The platform from Hxro offers analytics and real-time data to assist traders in making wise selections.
Watch your trade: On the Hxro platform, you can keep an eye on your transaction in real time once you’ve placed it. The platform offers a number of tools and features, such as technical analysis tools and real-time sentiment indicators, to help traders keep track of the price of their preferred cryptocurrency.
Finish the trade: The money is promptly credited to your account after the trade is complete. If you trade a binary, based on whether your prediction was true or not, you will either receive the fixed payout or lose your money.
Along with trading, Hxro also provides a social trading platform called MoonRekt where users may follow one another, discuss transactions and trading tactics, and share knowledge.
Can Hxro be trusted
Trading on Hxro has certain risk, just like it does on any other cryptocurrency exchange. Hxro, however, has taken measures to guarantee the security and dependability of its platform.
First off, Hxro is a regulated and authorised site for trading cryptocurrencies. The company is required to abide by a number of anti-money laundering (AML) and know-your-customer (KYC) laws because it is registered as a money services business with the Financial Crimes Enforcement Network (FinCEN) in the United States. Users can be somewhat certain that the business is acting morally and legally by doing this.
Second, Hxro has put in place a number of security safeguards to safeguard user funds and data. These safety precautions include SSL encryption, two-factor authentication (2FA), and cold storage of customer cash. To make sure that its platform is secure, Hxro has also passed security examinations from outside parties.
Thirdly, users can stay up to date on platform updates and improvements thanks to Hxro’s open approach to business operations and robust social media presence. Additionally, the business has the support of reputable financiers like Blockchain Capital and GoldenTree Asset Management.
Overall, Hxro has made pains to guarantee that its platform is secure, dependable, and transparent, despite the fact that there is always a certain amount of risk associated with trading cryptocurrencies. Before trading on the site, customers should do their own research and understand the dangers involved, just like with any investment.
Does Hxro charge a fee
Yes, Hxro levies commissions for trades made on its platform. The costs are assessed on a per-trade basis and vary based on the chosen trading product.
Hxro charges 1% of the trade size as a cost for binary, with a minimum fee of $1 and a maximum fee of $10. This implies that you will pay a $1 commission if you trade a binary with a value of $100. A $10 fee will be applied if you trade a binary with a value of $1,000 or above.
Hxro levies a fee of 0.2% of the trade size for spot trading. This charge is consistent with what is expected of cryptocurrency exchanges in the market.
Fees for deposits and withdrawals are also charged by Hxro. According to the chosen payment method and the currency being deposited or withdrawn, the fees change.
Hxro does impose fees for trading on its platform, but overall, these costs are fair and consistent with industry standards. Before trading, users should always review the fee schedule to make sure they are aware of all associated charges.
