HotForex Review Everything You Need To Know About This Broker

HotForex Review Everything You Need To Know About This Broker

Although HotForex doesn’t offer you any personal compensation schemes, our reviewers were impressed to find that the broker has safeguarded its clients with a civil liability insurance program. Each arm of the broker has its own coverage, worth up to €5 million, to protect you against errors, fraud, negligence, and various other risks that may lead to financial loss. When it comes to indices, this HotForex review has shown that the broker charges a $1 round turn commission on every lot opened. Spreads on indices are also variable and range from a minimum of 0.04 pips to a maximum of 11.3 pips. Though HFM (HF Markets) is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at HFM (HF Markets), exploring its features, pros, cons, and more.

Platforms

HFM has established itself among the most competitive Forex brokers with a quality mix of products and services. It enables all trading strategies with a cutting-edge trading environment and competitive fees. The HFM Trader’s Board has data on how HFM clients trade and a lucrative partnership program is also available. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check regulation and verify it with the regulator by checking the provided license with their database.

What is Fundamental & Technical Analysis in Crypto Trading?

HFM caters to most traders from its headquarters in Saint Vincent and the Grenadines, but it has offices in each country where it maintains a regulatory license. The only application form typically takes less than 20 seconds to complete, asking for country of residence, e-mail, and the desired password, which grants access to the myHF back office. HFM does not ask unnecessary questions, the process is hassle-free, and the back-office user friendly.

• This feature is especially useful if you are a beginner trader who wants to polish their skills by learning from professionals.
• If you’re looking for more indicators, HotForex also provides Autochartist tools to all traders, free of charge.
• Therefore, HF Markets (SV) Ltd. is under no circumstances, liable and/or responsible for any losses that arise out of the use of HFM PAMM Program.
• A trading platform is simply a software interface that allows you to place trades.
• Zero account is an accessible, swap free, low-cost trading solution that is suitable for all traders.

If a client deposited 100 USD, he/she could receive 30 USD as part of a Rescue Program. The Rescue Program could be used as a stop loss as there is was no limitation in using it for trading. Unfortunately this is not a current promotion, but it may be worth looking out for such bonuses in the future. The minimum deposit at HotForex is $5 for a Micro account, $100 for a Premium account, and $200 for a Zero Spread account. Compared to other brokers of the same caliber, HotForex’s minimum deposit limits are low and accessible. TAKE ACTIONOpen an account on the broker website.COMPARE BROKERSee what benefits one offers over the other.CHECK THE FOREX GUIDESTrading financial markets has never been easier.

Hot Forex Trading Platforms

With these licenses, HotForex can offer its clients a wide range of trading services in multiple jurisdictions. Hot Forex now known as HF Markets or HFM is a multi-asset Forex broker specializing in Forex and Commodities trading. The brokerage firm was established in 2010 and is headquartered in Cyprus.

HFM (HF Markets) Ratings and Reviews from Forex Peace Army:

Hot Forex has won numerous awards for its excellent services and customer satisfaction. HotForex can be trusted as a reliable brokerage company that will work in the best interest of their clients. You can always test out the broker’s products by signing up for a demo account or sample the broker’s micro account by making a small initial deposit. However, in case you are opting for a bonus, make sure that you understand all the terms and conditions before making any withdrawal request. Since 2010, HFM has enabled traders to explore opportunities in the financial markets. We have transformed into a hotforex broker one-stop hub for advanced technology, comprehensive education, and the finest trading conditions.

• And in the review of the Hot Forex broker platform, you will learn all there is to know.
• HotForex offers you the ability to convert their main four types of accounts into Islamic accounts.
• HotForex offers traders the chance to open positions in every financial market, with the exception of the cryptocurrency market.
• You’ll also find that you are always covered by negative balance protection, no matter your account type or the market conditions.
• Also, it has secured the hearts of 20 industry awards and proves that its one of the online trade broker that’s worth considering.

As well as referral programs where you can introduce a new client to the broker, and earn a considerable amount of money. Besides that, HotForex regulations in different financial markets are marked by recognized licenses such as FCA, DFSA, FSCA, and FSA. This allows the broker to conduct international finances and investing transactions in different countries. HotForex have an extensive education section as part of their platform to help their traders as much as possible. They have everything from live webinars to market analysis, general training videos and step by step courses. You can get in touch with a member of the HotForex customer support team 24 hours a day.

Wire transfer has no fees for deposits over $100 and takes between 2 to 7 business days. Hotforex broker also maintains separate bank accounts for clients’ funds, ensuring they are never mixed with the company’s funds. HFM offer their proprietary online trading app, which is available for both Android and iOS. Clients can access their accounts through the app and trade more than 1200 CFDs. Forex, binary options and cryptocurrencies are highly speculative assets. Yes, you can rely on the company as the brokers have a wide range of currencies and services to trade.

You can open a Micro, Premium, Auto, or Zero Spread account, and then contact customer services to have it adapted. All Islamic accounts at HotForex come without swap fees, making them Sharia-compliant. Do note, however, that carrying charges may be enforced when positions on certain instruments are held for over 7 days. Whilst the broker says this isn’t an interest fee and so doesn’t constitute riba, you should ensure that you are comfortable with these fees before applying for the account. Moreover, HotForex reserves the right to ask clients to show proof of their faith.

A big selling point for HotForex is its multi-regulated status, providing traders with an added layer of security and trust. You can also use your credit or debit card to deposit with a minimum of $5 and a maximum of $10,000. There are also a couple of alternative means of depositing on HotForex with various minimum deposits applied. This review of Hot Forex shows that it welcomes clients from many parts of the world except for a few countries due to regulatory restrictions. Many of their traders come from countries such as the Philippines, Nigeria, Colombia, Malaysia, South Africa, the UAE, Mexico, Singapore, Kenya, Brazil, and many more.

In addition to a universal free phone number, there are also separate toll-free phone numbers for specific countries. These are available for Russian, Chinese, Brazilian, Taiwanese, Indian, Indonesian, Nigerian, and Turkish clients. These videos explain various aspects of trading such as basic terms, how to use both MetaTrader 4 and 5, how to use technical indicators, and even trader psychology. If you are new to trading, you’ll appreciate how easy these videos are to understand. These include some of the most popular indices like the EU STOXX 50, US Dollar Index, and US Wall Street.