HotForex broker reviews: 2023 HotForex Reviews Pros, Cons & More

The broker offers variable spreads and low commissions compared to the other brokers in the industry. HotForex is packed with a ton of educational and research resources. There is no fee charged on deposits and withdrawals while using various payment methods.

As a market maker, HOTFOREX may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. As HOTFOREX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re limefx paying to execute your trades. A wide range of HotForex tools is available to boost your trading experience. Tools can notify you of the latest news developments so that you become aware of the currency pair movements. Besides, with the help of tools, you can make complex calculations in seconds.

HotForex offers both Meta Trader 4 and Meta Trader 5 trading platforms. Besides, the platforms provide numerous tools and software to ease trading. MT4 and MT5 are easy to use, so anyone can use them regardless of their experience. From the name, you can understand that it is just a demo account, and you don’t need to deposit any real money. With the demo account, you will get all the access like a real account, including access to the Meta Trader platform. Anyone can open a demo account inHotForex broker.However, the trader will not get lifetime access to a demo account.

However, it is very reliable for traders who exclusively want Meta Trader as their platform. Besides, the HotForex leveragestructure intends to increase potential gains. Sometimes, the gains can be multiplied by a certain number of times. HotForex PAMM program is an LimeFx program that permits any trader a chance to invest their money without the need to trade the market themself. The PAMM program allows their fund managers to earn extra revenue for managing their client funds successfully.

• HotForex has a good trading product portfolio with over 1,000 instruments to choose from various asset classes, including forex, commodities, stocks, indices, bonds and ETFs.
• Although it offers a copy trading platform, social trading capabilities are not available.
• With Hotforex, you have a number of options with regards to the trading platform that you can use.

It is important to note that the broker does not offer any exotics. Additionally, there are just 49 total forex pairs available, which is around average and fails to set the broker apart from the competition. HOTFOREX accepts all major credit and debit cards, bank wire transfers, and additional services like Skrill, Neteller, FasaPay, Sofort, mybitwallet, iDeal and Webmoney and many more. Notably, HF Markets Ltd is regulated by CySEC while HF Markets SA Ltd is authorized by the Financial Sector Conduct Authority in South Africa. The Head office is located in Cyprus while another office is in Kingston, St. Vincent & the Grenadines.

Account types

It uses only major banks for keeping their client’s money separate from the company’s funds. HotForex provides more than 150 tradable assets to their traders. Their clients have several markets to participate in using several trading options provided by HotForex, limefx company reviews such as CFDs, spot contracts, futures contracts, and Forex. At first I start trading via Metatrader 4 platform because I had an experience using it. That can be a nice alternative for the desktop platforms especially if you are always trade on the go.

For these reasons — which are many — it only makes sense to give HotForex 5 stars. Customer care at HotForex reaches you via a European phone number, live chat window and support email along with the entire education section. When you want to invest in forex, for example, you view and interact with real-time and historical charts with several useful pieces of information. To get you the HotForex review, we have opened a demo account and found that opening a demo account is not a complex task. It can be opened by clicking on the Demo button and then providing all the information. With access to unrestricted liquidity, tight spread, and many attractive offers.

As you review HotForex forex account types, you will likely be impressed by the range of choices. There are Demo accounts in addition to Micro, Premium, Islamic, and Auto Accounts. Broker additionally offers three bonds as CFDs, including EUBUND.F, UK Gilt, and US 10-year Treasury Note. The margin requirement for each is 2 per cent and typical spreads are 0.05, 0.05, and 0.08 respectively. In terms of indices, this HotForex UK review found 11 index CFDs for brokers to choose from, in addition to 11 index futures. This is fewer indices than many competitors offer, but it does include all of the favourites.

The user of HotForex can access the state-of-the-art user-friendly and easy-to-download HotForex iPad Trader. This software is developed specifically with advanced features with the iPad Trader. The largest market for hot-rolled steel bars and rods is Asia Pacific, with China being the leading producer and consumer of the product. The report provides an in-depth analysis of the market in Asia Pacific, including the growth prospects and key statistics.

Is HFM a fake or scam?

HotForex is regulated by the Financial Conduct Authority in the United Kingdom. HF Markets group is divided into two divisions, HF Markets UK Limited and HF Markets Europe Ltd. HotForex offers several account types, trader tools, and software to facilitate institutional and individual customers to trade derivatives and Forex online. This platform offers different account types where customers can choose and enjoy a tailor-made trading experience that suits their needs.

HFM only uses major global banks and clients’ funds are kept in bank accounts separate from those used by the company. Their support service is poor, all my money I put was lost, I couldn’t withdraw, and I stopped using their service when I came across benarmstrong-trades. Com , my first week I made up to 9,000 with deposit of 550, if I’ll recommend platform it’s Ben Armstrong trades cos their support is good and there’s no restriction like I had in HotForex.

HotForex Products

While trading with HFM we founf availabilitty of fixed or floating leverage, which is indeed a very useful tool, especially for traders of smaller size. Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to use tool smartly. You can choose the HotForex broker without any doubt and open an account from 6 different options and start trading.

This insurance covers risk through errors, omissions, negligence, fraud, and other financial risks which may lead to financial losses. Well, it’s a reliable broker, but I’ve noticed way too many disadvantages that ruined my trading experience, so only 3 stars. The minimum deposit there is pretty low, and I think that’s the only advantage. It’s possible to find a better broker, that’s for sure, but for some people, it can be a good option too. It just wasn’t a good choice for me, and that’s why I’ll definitely turn to another broker.

HFM Education

HotForex offers six types of accounts, Micro, Premium, Zero Spread, Auto, PAMM , and HFCopy. TheseHotForex account typesare believed to provide the best possible trading conditions to the client according to the requirements. HotForex is a MetaTrader broker founded in 2010 and is regulated by FCA, SySEC, and other regulators. It offers 47 currency pairs, cryptocurrencies, and access to over 1,000 securities including precious metals, commodities, stocks, bonds, and stock indexes. Mobile trading is offered with MT4, MT5 mobile apps as well as proprietary HF App . As per our HotForex review, it offers HF Affiliates – an affiliate program that caters to both online and offline affiliates by paying great commission for their clients referred to HotForex.

Further, the minimum requirement depends on the account type as well. Deposits can take 10 minutes to 2 working days based on the method used by the trader, and it does not apply deposit fees. HotForex brokers have four types of reward levels like red, gold, silver, and platinum. Users qualify for red trading rewards when they register on the program. If the user is more active, the trader accumulates more, and they can progress. After actively trading in the brokers and accumulating enough bars, the users can choose to exchange them with Forex trading services or tools or for cash.

Plan and trade and get rewarded with a performance fee for successful trades. We highly recommend HotForex to novice and expert traders alike since you get to trade with excellent research resources. Learning materials are also available in plenty and good quality, allowing you to quickly improve your knowledge and skills. All information on 55brokers.com is only published for general information purposes. A broker that is easy to recommend, just made another withdrawal last week and processed with ease, hope the market becomes a bit gentler but over all the broker is doing an awesome job. HFM has a large list of payment systems through which you can deposit your account.

HotForex MT5 PlatformThe MT5 online terminal provides the same functionality as the MT5 desktop terminal without the need to download, install, or execute any software. You can start trading in seconds with all of the same functionality as the MT5 desktop platform by simply launching the web terminal from any computer and browser. Also very poor at customer care when it comes https://limefx.group/ to getting back the funds, customer care on Good during deposit time. They are a decent broker , quiet well known with a good reputation and decent services. I have traded with them for a year now and im pretty pleased with how things are going, an easy recommendation. In my opinion, there are no more versatile and convenient platforms than MetaTrader4 and MetaTrader5.

Smart trading opportunity with free account funding and loyalty program. However, tools are divided into two parts, trading tools, and analysis tools. Platforms are accessible in any operating system, including Windows and Mac. Besides, MT4 and MT5 provide access via iPhone and Android apps, including iPad and Tablet devices. There are fees for account inactivity, and HotForex charges $5/ month if the account is inactive for a longer period. So, we suggest that you should initiate a trade at least once a month.

HF Markets Group has been operating since 2010 and is regulated in multiple jurisdictions, including FCA and CySEC. The broker provides negative balance protection to its European clients and keeps its clients’ funds in segregated accounts in top European banks. In addition to over 1000+ trading instruments, the broker offers MT4, MT4 Multi and MT5 trading platforms on multiple devices and environments. Moreover, HotForex offers demo trading for its clients to get used to the trading environment. In addition, the broker offers Swap-free Islamic accounts for its clients of the Muslim faith.

Bitpay by skrill is integrated with this broker and i also think that we can deposit other cyrpto assets like Ripple, ltc etc directly but btc can be added by using the bitpay. I refused to give additional money so they are not going to release funds. Yestarday he asked me to pay what I have and he will top up for me with $100 and send my profit today. Which got me very confused and very worried because the money that I sent for tax yestarday I borrowed from someone whom I promised I would pay back the following day which is today. The only thing that disappointed me was that there were no cryptocurrencies I wanted to trade.

If I dare exit from metatrader with open trades, this broker leaves me in red. One can’t take long positions comfortably without fearing trade Manipulation by HotForex. Fresh HF Markets review- regulations, platforms, and traders ratings. The withdrawal time of HotForex varies based on the payment method chosen by the trader.

HF Markets product list is relatively small compared to its competitors. It offers 45 major and minor currency pairs, 12 CFD indices from 6 different countries, and about 56 individual shares. In its commodities list, you can trade Cocoa, Cotton, Sugar, and coffee while in metals you can only trade Gold and Silver. Finally, in cryptocurrencies, they have Bitcoin, Stellar, Ripple, Ethereum, Litecoin, and Monero. The broker provides financial security by segregating client funds and guarantees negative balance protection which indeed gives peace of mind to the traders.