HotForex forex broker: HotForex Review #1: Is It Reliable & Regulated Forex Broker?

HotForex forex broker
HotForex forex broker

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.

Forex trading, transactions with unauthorised dealers, websites can lead to trouble: How to check authoris – Economic Times

Forex trading, transactions with unauthorised dealers, websites can lead to trouble: How to check authoris.

Posted: Fri, 07 Oct 2022 07:00:00 GMT [source]

You should ensure you are aware of the risks involved in trading and if you can afford to take the high risk of losing your money. HotForex is mostly popular for being voted as the Best Online Broker for Asia in 2012 year. The nomination came from the famous World Finance and to tell you the truth, this Forex platform, indeed, deserves it.

Multi-asset trading on onepowerful platform

I placed a high volume trade which yielded 10 pips which is $100 and I tried closing the position, for 5minutes it kept throwing errors. 5 minutes, the trade wasn’t closed until price went back down and I was able to close my position at $7 profit after 10minutes and several attempts to close my position. There was no news in play so they can’t claim the volatility is the cause of the error, they just didn’t allow me close my trade for about 10mins. It’s no surprise that scalpers require the best execution possible, hence why I trade with this company. I intentionally compared a couple of other brokers and HFM showed itself from the best side possible.

Besides, there are over 30 technical indicators and 24 analytical objects, so mobile capabilities are truly great, and we enjoyed testing it too. HFM provides an award-winning MT4 Platform and its newer version MetaTrader 5 as its trading software. For the funds protection, which is an important part of the regulated broker, HF Markets Ltd. is a member of the Cyprus Investor Compensation Fund. It constitutes a claim of the covered clients against LimeFx firms.

Applications can be submitted directly from HFM’s website after your account is approved and funded. HFM does offer it’s own MasterCard which allows you to easily withdraw your profits to the card. Other HFM account minimums vary by type, with most being in the $100-$250 range. HFM’s representative requests that anyone having issues please include the account number in the review.

Free Forex Education

HotForex provides a range of research tools suitable for all strategy types. Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds. He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage desk and CRO and COO of hedge funds running a variety of strategies. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D.

HotForex offers traders the MT4 and MT5 suite with an additional optional 12 tool package called Premium Trader Tools. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. In doing so, we often feature products or services from our partners.

MT4 iPhone Trader

Additionally, through the mobile trading app offered by HotForex broker, the users can use this mobile version on the MT5 trading platform too. The trader should know that any perfect trading opportunity will not always happen when they are sitting in front of the computer. Traders can deposit money into their HotForex trading accounts through Credit/Debit cards, Skrill, Neteller, UnionPay, WebMoney, FasPay, and Wire transfer.

  • HF Markets is multi regulated forex broker that has a local office in Kenya.
  • Each of them has their own strengths and weaknesses, so you need to ensure that in opening an account, you choose an option that best suits your specific needs.
  • Traders also get access to the client sentiment data, in-house produced market analytics, and educational materials including training videos, books, and articles.
  • You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Withdrawals made through the likes of Neteller and Skrill will be processed almost instantly.

A part of their appeal is the dedication given to helping traders elevate their knowledge, and their research skills. Commissions and spreads are based on the account type you choose. The zero account offers traders a cosy 0 fee with average spreads from 0.2, in most cases. 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. The forex broker provides the best and tailor-made commission structure for the products that help them to achieve the user’s revenue expectations. HotForex brokers have four types of reward levels like red, gold, silver, and platinum.


HFM will process your withdrawal within a short time and is available 24/5. As well always consider overnight or rollover fees as trading costs in case you holding an open position longer than a day. This fee is defined by each instrument separately and you will see it directly from the platform or upon the opening of the trade, see below example with Cryptocurrencies.

HotForex forex broker

Calculators – The Risk Percentage Calculator helps customers to calculate lot sizes by specifying the amount they are willing to risk, currency pair, account currency, and opening/stop loss price. Some of the other calculators’ traders can use are Multitarget Calculator, Pivot Points Calculator, Pip Value Calculator, Position Size Calculator, Fibonacci Calculator, and Risk and Reward Calculator. HotForex iPad Trader – This platform integrates seamlessly with iPad functionality so that traders can enjoy the best trading experience. HotForex Multi Terminal – You can use this platform to manage multiple trading accounts. Demo accounts remain valid for an unlimited period of time, giving you access to real market conditions so that you can test trading strategies.

The trader can add funds to their account as low as $5 to make their first deposit. 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 provides more than 150 tradable assets to their traders. Their clients have several markets to participate in using several trading options provided by HotForex, such as CFDs, spot contracts, futures contracts, and Forex. Upgraded MT4/MT5 trading platforms are available at both brokers, but LimeFx also has cTrader.

78.6%of retail investor accounts lose money when trading CFDs. Overall, HFM is a well-established customer-oriented broker with secure, regulated trading environment suitable for almost every trader. I have been trading with this forex broker for several months and have had nothing but positive experiences. Their mobile app is convenient and easy to use, and their market analysis tools are very helpful.

Online trading involves significant risk, and you may lose all of your invested capital. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. HotForex is the name of a number of companies that operate in various jurisdictions around the world. One of the primary company in the group is HF Markets lime fx Ltd, an LimeFx firm in Cyprus that is incorporated in the Eu and is also licensed by CySEC . This forex broker is also licensed by South Africa’s regulator the FSB and operates through two more offshore companies that include HF Markets Ltd and HF Markets. Rescue Bonus – The 30% Rescue Bonus is made specially for for traders, who want to protect accounts from periods of drawdown.

HotForex forex broker

You will have access to technical indicators, expert advisors and back testing options among others. Furthermore, the platforms are available on a number of versions such as desktop, mobile and even the web. When it comes to trading fees, HotForex has a tight spread offering, as well as some of the more appealing spread opportunities out there. Understanding the basics of forex trading, especially how fees work, is imperative to your success in the forex market. Looking for a reliable and effective forex broker to help make your trading moves count? HotForex is a meta-trader only broker that offers forex and Commodities through a range of six different account types.

A variety of companies including forex brokers promise their clients the world but often have a difficult time delivering their promises. With HotForex, you get everything that the company promises and even more. All the products and services offered by the brokerage company are tailored to the specific needs of their customers. This has made the company earn its status as a reliable and trustworthy broker. HFM, formerly known as HotForex, is an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients.

The traders will get an advantage of trading with negative balance protection, flexible leverage and tight spreads. Earnings Season is a 6-week period when companies release to the public their quarterly corporate earnings for review… Based on our research, we can recommend XTB for beginners since it did a great job incorporating state-of-the-art limefx review educational resources and research tools. XTB’s trading platform is quite user-friendly and the spreads are lower than the industry average. Another great aspect is that it doesn’t have a minimum deposit requirement making it favorable amongst newbies. HFM is also a trading platform that I have loved for many years, it is very reliable and formal.

It also offers a civil liability insurance program with a limit of 5,000,000 Euros that covers omissions, errors, fraud, negligence, and other risks for HotForex. It uses only major banks for keeping their client’s money separate from the company’s funds. The commodity markets offered by HotForex are different LimeFx opportunities available for traders. The traders can invest in tradable goods that are contract-based, and it is one of the reliable ways for mitigating risk during economic uncertainty or inflation.

In this guide, we’ll take you through the key points of HotForex; its reputation, how much you’ll pay, and its platforms. Depending on your trading needs, this broker might be just for you. In recent years, the lack of volatility in the forex market caused trading volume to wane.

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