To provide you with an honest review of HotForex broker,we have looked at theHotForex account types,spread, leverage, sign-up process, deposit, withdrawal methods, and much more. Despite its controversial reputation, I personally had a profitable forex trading experience with HFM. In one instance, I managed to make a steady profit of $2000 by trading USD/JPY currency pair in like a month without any hassles. However, I must caution that forex trading is inherently risky, and traders must always exercise caution when trading. Overall IMO, this broker can be a viable option for both new and experienced traders but don’t forget fund management and potential risks. The trader can add funds to their account as low as $5 to make their first deposit.
HotForex offers a generous selection of 1,000+ trading products from various asset classes, including forex, stocks, indices, commodities, bonds and ETFs. HotForex enables you to trade online via the popular MetaTrader platforms from MetaQuotes. You can get access to the markets and trade on your web, desktop and mobile devices. Overall, HFM is a well-established customer-oriented broker with secure, regulated trading environment suitable for almost every trader. Using the HotForex trading rewards loyalty program, the users can earn Bars for each qualifying round when they trade with gold, silver, and Forex.
Their humanitarian effort is admirable and demonstrates a high level of social responsibility. HOTFOREX brand is owned by the “HF Markets Group” and was founded in 2010 in St. Vincent and the Grenadines. An award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients. As per our HotForex review, this platform offers Metatrader 4 and also the latest version of MT5. MT4 and MT5 are compatible with several devices; HotForex mobile trading platform is known as HotForex mobile app.
HotForex Review 2023
To start, the minimum deposit is relatively low, and the account opening process is fully digital and super-fast. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high https://limefx.club/ degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your LimeFx objectives, level of experience, and risk appetite.
The traders can enjoy several tradable assets, and this platform offers access to more than 1,000 securities, including Metals, Forex pairs, energies, cryptocurrencies, ETFs, and stock indices. Compared with other best forex brokerplatforms, the wide selection of tradable assets is above average for the pricing structure it provides. HotForex offers various account types to facilitate the needs of all types of traders. I found the spreads to be tight and the commission fees below the industry standard.
I want one click – one trade open and not ten clicks on a single trade. 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. The report also includes profiles of the largest manufacturers in the industry, such as ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, and POSCO.
SOME FACTS ABOUT HOTFOREX CLIENTS, TRADING VOLUME AND MORE
And they also provide good customer service, with quick live chat as per our tests. All information presented on TopBrokers.com website, including charts, quotes and financial analysis, is informational and doesn`t imply direct instructions for investing. TopBrokers.com will not accept any liability for loss or damage limefx company reviews as a result of reliance on the information on this site. Forex pairs, cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.
This is a comprehensive addition to the platform which greatly enhances the analytical capabilities of the trader, making a positive decision all the more likely. HOTFOREX deposit options are varied and several without any deposit fees. Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions. The great trading condition with flexible leverage and tight spreads. For example, 71.37% of the HotForex brokerinvestors tend to lose money, which is comparatively lower than the competitors.
The first step is to go to the website of HotForex and click the Register button. The user needs to provide details of their email address, name, phone number for registering an account. We use dedicated people and clever technology to safeguard our platform. I like to trade and it’s very good to realize that your broker is reliable enough to entrust more monney. Instead employees try to deviate from what your question or issue may be and speak about something completely unrelated to what the problem is. Happened with the account manager Thulani as well as the trading team via email.
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… Of course, there is a mobile trading platform as well a HFM Mobile Application with an option to trade “on the go”. MT4 and MT5 mobile trading are actually known for its advanced lime fx capabilities and interactive charts with almost the same productivity as its full versions. 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.
HFM Trading Platform Comparison
In South Africa, it is regulated by the Financial Sector Conduct Authority . Finally, the fifth and the last regulation comes from the Republic of Seychelles by its Financial Services Authority . Overall good, lowest spreads, fast execution, sufficient leverage, quick withdrawal and excellent customer support.
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 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. The brokers’ users can access numerous trading instruments over commodities, forex pairs, shares, bonds, indices, and cryptocurrency CFDs.
The education center is mainly a resource center for Forex, which is updated regularly. The main intention of HotForex education center is to develop a library of various resources for their clients that can be accessed easily. It also provides presentations on important topics that add value by offering knowledge and tools that are required to trade the forex market with confidence. As per our HotForex review, the withdrawal fees of HotForex are based on the chosen withdrawal payment method by the user. Every broker has its own rules of how the funds should be withdrawn from their accounts. This implies different forex brokers offer different types of withdrawal methods and transfer processing fees, currency conversion fees, and processing times.
Global broker HotForex has confirmed that its HFM LimeFxs Limited subsidiary got licensed by the Capital Markets Authority of Kenya, under license number 155. This prestigious license will strengthen broker’s international offer and will guarantee the highest level of security to even more clients around the world. Established in 2010, this multi-asset international broker has become a choice to… HotForex never misses an opportunity to treat its Partners in a best way possible. Last time global multi-asset broker surprised them with withdrawable rewards from a legendary $2,000,000 prize pool for its 10 Year Anniversary. This time it is a new program, RevShare+, designed to bring HotForex Partners specific rewards that are even more generous than before and…
However, the difference between trading costs also defined by the margin requirements, which increase almost double in case you wish to trade with 0 spread. So make sure to verify account conditions in detail before you sign in. Spreads fees defined by the account type you use, thus Micro Account spread starting from 1 pip and Zero Account offers 0 fee which averages on 0.2 pips most often.
Moreover, the software offered by HotForex helps traders to switch to MT4 and MT5 with just a click, which the users find very useful. However, this platform does not offer an in-app feature currently. Please note that forex & CFD trading are risky LimeFxs, and you can you lose your entire capital.
The broker has a good interface with decent supporting apps and platforms, its not lacking at all, though I tend to use third party platforms for charting, its just what im used to. Withdrawals are fast, it says 48hrs, but there are times its processed much earlier. In order for us to investigate the mentioned case, we will require your HF trading account number and the order numbers of the trades you are referring to. Please send this information directly to and the Trading Desk Team will assist you further. On 3 separate occasions I have been stopped out despite market movement going anywhere near my stop loss.
You will not find older HotForex cryptocurrency reviews as this is a relatively new addition to the broker’s portfolio. As with most other assets from the broker, if you review cryptocurrency offerings, you will notice that they are all CFDs. An addition to the HOTFOREX MetaTrader experience which many traders welcomed is that of the Premium Trader Tools add on from FX Blue Labs.
- HotForex provides a proprietary HF app that lets users track their preferred tradable assets, stay updated with current market news, and perform technical analysis on the assets.
- 72% of retail investor accounts lose money when trading CFDs with this provider.
- HotForex sign upforlive account offer three different types of sign up options, which include individual, corporate, and joint.
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. The report forecasts the market to grow at a CAGR of 3.2% from 2022 to 2030.
HotForex uses the HF Markets mobile app, allowing you all the functionality you get on the website. A high-functioning app is vital to your success on your LimeFx journey because you can access the very same information you get at your desk, on the couch or in the office. If you’re the kind of person who wants to DIY your trading, the tools are there.
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… At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers.