HotForex Review 2022 Trading Platform Account Types Overview

HotForex has trading platforms for all kinds of trading needs, whether it be Desktop or on-the-go using mobile. Overall, we have found HotForex’s list of instruments to be okay, and their fees is moderate for most of the instruments. They also, support trading CFDs on 19 cryptocurrency crosses. Check the exact specifications like the Swap fees, trading hours, max.

HotForex broker reviews

Although their main market is in Asia, they are one of the biggest retail brokers with the daily average trading volume at about $200 billion. But the truth is the comments are depended on your personal attitude. When something wrong happens, you’ll want to find a place to blame and that is when you leave bad comments for the brokers. If all things is fine, there’s nothing to talk about so there are no good comments on the brokers.

For scalpers, you want to trade with a broker who provides the tightest spreads and lowest commissions possible. This account is more suitable if you are a day-trader who places a lot of trades, as you get very low spreads (a benchmark figure of 0.3 pips), but you need to pay commission based on the volume of the trade. You can trade a maximum of 60 Lots per trade up to a maximum number of 500 orders. HotForex offers different types of Accounts to its clients to suit a wide range of trading strategies. HotForex is a 100% STP broker, all the trades are executed as Market orders which means there won’t be any requotes.

I am using them for some time more than…

They are regulated in South Africa, 3 other Tier-1 & Tier-2 regulations, so the security of your funds is backed by these top-tier regulators. We look for specific features such as customizability and trading signals. We include different instruments and holding positions overnight. Besides that, famous figures such as the ex-footballer Michael Ballack and the Hollywood actor Sean Bean become the faces of the company. Noting that contract expiration dates for each of these two oils are also clearly stated in this section, for the trader to be informed beforehand.

HotForex broker reviews

Actually, there are many brokers who would slow down the execution to reduce their risk because it takes time for the quote value to go from liquidity providers to the brokers and then to the traders. For Hotforex fixed spread account, the spread is only 1.8 pip for EUR/USD, which is relatively low compared to other fixed spread accounts from other brokers. You should notice that it is not wise to compare limefx official site fixed spread accounts with regular accounts because in normal trading conditions, regular accounts’ spread is clearly lower than that of fixed spread accounts. Therefore, the fixed spread of Hotforex is much better than other brokers’ fixed spread. There are still a lot of brokers that are praised; however, these brokers may not be that good because they are suitable for other traders but not for you.

Deposits & Withdrawals

Once you get your registration, you can start with any of the 6 account types. The accounts differ in terms of the minimum deposit required, maximum leverage, spreads, and maximum order allowed. One of the major points before choosing a broker is to check their customer support staff. HFM broker offers customer care in 27 languages that cover trading needs and permits customers from any country to get quality support and to trade as per their requirements. As per the HFM review, customer service is offered through phone, live chat, faqs, and email; email support is offered in a few languages.

Yes, Hotforex have NAS100 indices as a CFD instrument on their platform for traders in South Africa. The typical spread for trading NASDAQ CFD on HotForex is 2.03 with all account types. The HotForex account types are shaped to fit beginner and experienced traders alike. Starting with the Micro Account, which requires a minimum deposit of $5 and can be a great fit for new traders.

  • So in order to deposit money on HFM you simply need to select the payment provider of your preference, as well as the one that is available in your region, and proceed with the payment.
  • CFDs are complex instruments and come with the high risk of losing money rapidly due to leverage.
  • In the case that you are gamblers that like to trade when there is sudden event or big news, choose the high leverage brokers.
  • 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.

Direct Market Access is a way of placing trades directly onto the order books of… Another important point while choosing the broker and within our HFM Review is customer service. HFM Platform Selection ranked Excellent with overall rating 9 out of 10 compared to over 500 other brokers. We mark it as excellent since there is a choice between industry popular platforms like MT4 and MT5, also HFM has its own trading apps packed with tools and excellent research. HFM technology overall might be suitable for day trading, long or short trading, copy trading, Robot Trading, EAs all with quality execution.

Forex Risk Disclaimer

HotForex offers a variety of funding and withdrawal methods which can be categorized into three. They include bank payments, electronic payments, and card payments. The HF Markets Zero Spread Account is a low-cost trading account suitable for all traders but is particularly tailored for high-volume traders, scalpers, and those who trade with Expert Advisors . This HotForex review greatly appreciates the vast range of educational materials and extra trading tools available, as they are plentiful. Instant e-wallet deposit options include FasaPay, Neteller, Skrill, and WebMoney, each of which has a $5 minimum. Cryptocurrency deposits are also available for Bitcoin or Bitcoin Cash via BitPay or Bitcoin via Skrill, all of which can take up to 10 minutes and have minimums of $5.

HotForex broker reviews

The global broker HotForex offers four generous bonus programs for new and existing traders to have the chance to double their deposits, protect their funds from drawdowns and even get daily cash rebates. International award-winning forex and commodities broker HotForex, offers new and existing traders the chance to kickstart their trading journey with one of… HotForex offers trading compatibility with MetaTrader 4 and 5 on both desktop and mobile devices. The brokerage platform also has a proprietary app that allows users to track their watchlist of tradable assets, perform technical analysis, and stay updated with the latest market news. While this software enables traders to switch to MetaTrader 4 or 5 with a single click, it does not currently offer trading as an in-app feature. Still, trading costs at HFM are slightly above the industry average, and its HFM mobile app does now support trading.

HotForex Broker provides outstanding customer service throughout 24/5. The broker offers live chat and ensures fast replies to customer queries. 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. I am trading a few assets with HFM and their fees are fair.

As part of the HotForex experience, every page includes unique, real-time information for available LimeFxs. Steven Hatzakis is the Global Director of Research for Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor .

Learn Forex Trading

In its ten years of successful running, the Traders Awards contest has gathered numerous experienced and talented traders all over the world and continues to appeal… Various payment methods will process withdraw money in slightly different time. HFM accounting team confirms transactions quite quickly as we had on our trade test, yet the matter might take longer due to payment providers. limefx company reviews Alike Wire transfer will take 2-10 working days, also depending on your bank and international policy processing, while ewallets will load the request Instant. HFM withdrawal options including cards, bank transfer by far most used option and various ewallets. And the last point withdrawal fee, which is actually 0$ is amazing news that allows you not to worry about extra fees.

As you review HotForex deposit options, you will appreciate the range of choices as well as the lack of deposit fees. Broker also offers a FIX/API for those who want direct market access while trading. HotForex does an excellent job at providing transparency in terms of its fees and spreads, something which this UK review appreciates. This review found 56 share CFDs for clients to choose from. The margin requirement for all is 7 per cent and the typical spread varies by share.

HFM is a broker with a good reputation and regulations based on our finds. Also, there is truly remarkable education section suitable for beginning traders and one of the best ranges our financial experts saw of webinars and seminars performed globally. HFM offers CFDs trading services choice of 7 account types and trading platforms with tight spreads averaging EUR USD 0.1 also operating unrestricted liquidity. Which is allowing any size or profile trader choose between various spreads and liquidity providers via automated trading platforms and perform any strategy, including News trading. Most CFD reviews for this broker will also mention the vast range of account types available, in addition to the ability to trade derivatives and forex online.

We will be happy to hear your thoughts

Leave a reply

VN678 Club