HotForex Review a Forex Broker with a Wide Choice of Trading Accounts

hotforex broker review

HotForex and HF Markets are the two brand names of HF Markets Group, which was established in 2010 in St. Vincent and the Grenadines. Having been operating for over a decade, HotForex has become one of the most trusted and reputable international brokerage brands around. Proof of this can found in the broker’s number of returning clients (HotForex currently has over 2,000,000 live accounts) and its collection of awards.

hotforex broker review

Hot Forex’s trading fees are slightly higher than average industry rates.

hotforex broker review

But more importantly, the broker combines more than 2,000,000 live trading accounts and supports 27 different languages. HotForex is an international broker that specialises in offering CFDs and forex to clients from around the world. Currently, the broker has opened more than 1,500,000 accounts, received more than 30 industry awards, has more than 200 employees around the world, and supports more than 27 languages. Mobile access to the trading platforms is easier and faster since many trading decisions are time-sensitive and any delay will affect the outcomes of buying or selling any position in the market.

Traders can utilize advanced tools on MetaTrader 4 and MetaTrader 5 platforms, including Expert Advisors (EAs) for automated trading.
Certainly, HotForex offers a 50% Sign-Up Reward that is instantly credited to your trading account.
HotForex allows traders to deposit and withdrawal funds with various methods.
The typical spreads vary by asset, with UK Brent Oil and US Crude Oil at 0.05 each.
Trading platforms often come with charting, research, and order processing tools too.

If you head over to the “tools” section of the HotForex website, you will see hundreds of different in-house tools or third-party tools available for traders at no additional cost. This most positive selling point of this account is the low deposit rate as it helps different traders lay down a strong foundation before moving on to other options. And if something goes wrong, the system that you’re testing is losing or it’s not your type of trading, you can just restart or open a new demo account.

What Can You Trade on HFM’s Platform?

Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Opinions, market data, and recommendations are subject to change at any time. HF Markets customer support is available in s more than 27 languages. You can also contact them by filling out the contact form on the official website.

The MetaTrader4 and MetaTrader5 interfaces are currently only open to Hotforex users with an SV registration. To obtain entry to the platforms, simply join up with the brokerage for a real account or check the HF Markets demo account and try all of the functionalities with $100k in imaginary money. RoboForex is a notable option for intermediate to advanced traders, typically due to the high leverage and the massive amount of tradable assets. The broker has more than 900,000 registered customers around the world and scored in terms of leverage and professional client support.

What are the pros and cons of HF Markets?

HF Markets offers a variety of educational resources targeted at increasing traders’ knowledge and skill. With free live webinars, market analysis, instructional videos, trading courses, and more, there is something for every level of trader. I think they have a good selection overall but not quite as comprehensive as what IronFX have to offer. MT5 has all of the features of MT4 plus 21 additional timeframes, 100+ technical indicators, the ability to examine 100+ charts concurrently, increased order management tools, and more.

Let’s take a look at some of the best tools we found during our HotForex review. But the leverage for the beginners with simple words is the amount of money that the broker borrowed the trader to use for trading. HFM review marks the Islamic account as an attractive feature HFM.

Demo Account

By using the leverage, the trader is borrowing money from the broker. If a hotforex broker review position is held overnight, there can be overnight fees (swap) that occur. The fee is depending on the leverage, trading product, and currency. Note that the swap can be positive in forex trading because of the interest rates. In an advanced market like this, your HF Markets account and your financial trading are right in the palm of your hand.

The customer service is outstanding compared to competitors in the industry, and there is an extensive education center which focuses on educating traders who use their services.
This shows us the high trust, and we can see that the Forex Broker is a safe place to invest money.
Islamic accounts are also available for the Micro, Premium, Auto, or Zero Spread accounts, without swaps or rollover charges.
As noted above, HotForex is a brokerage company that mainly offers currency pairs to its clients.
The broker offers several base currencies, allowing clients to choose their preferred currency.
If you are interested in learning more about the different swap rates or rollover rates, you can head over to the HotForex MT4 & MT5 trading platforms to get a better understanding of these rates.

HFM is one of the brokers with an excellent reputation among demanding traders . Once the testing was over, we had to withdraw the balance back to our card that was used to make an initial deposit. Since our account was already verified, there was absolutely no problem. The whole process of withdrawing the amount from requesting the payment until the money reached my card took in approx. HFM is 100% STP Broker, following a Market Execution policy with no dealing desk (which is good if you ask me).

I can only recommend HFM, where traders get a broker who cares about them and understand the trading conditions that enable profitable traders to succeed. HFM offers traders MT4/MT5 and upgrades them with 12 trading tools by FX Blue Labs plus Autochartist. They are available as a desktop client, a webtrader, and a mobile app, while MT4 comes with the PAMM module. The upgrades result in a very competitive solution, and HFM also developed its proprietary mobile app, HF App. I like the range of products HFM provides, starting with the 12-plugin upgrade for MT4/MT5. HFM also understands the importance of competitive regulation, leverage, and loyalty programs.

Ripple can be traded against just the USD while the other three cryptocurrencies can be traded against the USD or EUR. Margin requirements are typically 10 per cent, except XRPUSD, which has a 20 per cent margin requirement. Typical spreads vary by currency and as expected, are in the quote currency. As some examples, BTCEUR and BTCUSD both have typical spreads of 30.0 while XRPUSD has one of 0.031.

If you don’t see all the assets, you can right-click and check Show All. If you see red here, it means you’re not connected to the server and probably you have mistaken your username or password. But if it’s green and if you see the Market Watch with all the prices changing and moving, then it means you are connected and you are ready to practice trading. A small box will appear where you need to type in your login details and the password that you received previously in the email from HotForex.

HotForex Review a Forex Broker with a Wide Choice of Trading Accounts