HotForex Trading Platform Reviews, FAQs, Pros and Cons

HotForex Trading Platform Reviews, FAQs, Pros and Cons

Usually, when you lose, the money you’ve deposited to your account is being used to pay for the losses. However, sometimes your account runs out of money and you’re actually required to pay up for additional losses. With negative balance protection, HotForex helps you avoid that by automatically closing trades when you reach zero account balance. HotForex enables its traders to use the most common trading platforms, which are the MetaTrader 4 and MetaTrader 5. This can be a great indicator that HotForex is a good broker because of MT4 and MT5 only partner with reliable brokers. Multi-lingual customer support is available 24/5, and HFM transparently lists all contact methods on its website.

Minimum Deposit Requirements

In terms of indices, this HotForex UK review found 11 index CFDs for brokers to choose from, in addition to 11 index futures. This is fewer indices than many competitors offer, but it does include all of the favourites. As an example of rates, the UK 100 has a typical spread of 0.6 and the USA30 has a typical spread of 3.4. When it comes to metal and energy spot CFDs, broker offers six instruments, with margin requirements of 0.5 to 1.5 per cent.

HotForex MetaTrader 4

Designed for the increasing number of traders who would rather work on the go, HFM has created a mobile trading app with functionality almost the same like on the laptop. Designed for Android and iOS smartphones, the app offers a flawless trading experience with tools that improve accessibility and utility. MobileTrader showed an easy interface during testing that lets users quickly move between trading options and market data. 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.

HotForex is another broker that has chosen to stick with MetaTrader.

• Risk percentage, numerous targets, pivot points, pip value, position size, risk/reward, and Fibonacci levels may all be calculated using the calculators.
• In short, this platform greatly benefits professional retail traders and corporations but do note that it isn’t possible to use this platform immediately.
• You may see account history, monitor current price feeds, and execute numerous order types.
• This account is also perfect for new users and potential traders who have a low balance and want to enjoy a minimum deposit of USD 5.
• When it comes to withdrawal, basically the same option is available, but the processing time varies.
• You can read real HFM user reviews at the bottom of this review article.
• After a few hours of practice, you will feel comfortable using the platform.

Delve deeper into its full offerings in my complete review of Spreadex. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. HotForex is a reputable forex and CFD online trading brokerage that offers their services across the globe.

• So, this makes them a market-making broker and the clients are the counterparties to every trade.
• As well as referral programs where you can introduce a new client to the broker, and earn a considerable amount of money.
• We also use different external services like Google Webfonts, Google Maps, and external Video providers.
• 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.
• In just a few clicks you put the Expert Advisor on the chart and make them start trading for you.
• When a problem is encountered or there is a pressing question to be asked, it’s vital that there is someone available to help.

About the Editorial Team

In addition to their regulatory accomplishments, HotForex has received numerous awards across Europe, Asia, Africa, and the Middle East. HF Markets is a reputable and secure Fx and derivatives broker recognized for its no-spread accounts and excellent client support. Furthermore, it is a genuinely worldwide broker that accepts users from several nations and provides opportunities for both novice and seasoned traders to participate in the forex market.

However, there are some regions where the company offers fewer account types. Micro, Premium, HFCOPY, Zero Spread, PAMM, Auto accounts are available in HFM. Different HFM broker accounts types offer different attractive deals for all level clients, i.e., beginner to expert. All accounts offer various trading tools with the variable HFM Spreads. HFM offers access to the MetaTrader 5 (MT5) platform as one of the platforms available for its clients, improving the trading environment and selection between software.

HotForex has been the subject of a few controversies, especially when it became public that the company has been outsourcing some parts of its brokerage operations to third-party companies. HotForex is headquartered in St. Vincent & The Grenadines, where unsurprisingly, there is a lack of proper regulatory organization that takes care of the customers. HotForex was recently penalized by the CySEC for a wide range of issues related to customer service, questionable maintenance of client records, and misrepresentation of risk-facts. Nevertheless, once HotForex paid off its penalties, the company has created a hotforex broker review better structure that satisfies all necessary regulatory guidelines for increased investor protection.

Learn more about its full offering at my comprehensive eToro review. We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here.

The Demo Account is a virtual account where the broker allows us to practice with virtual money. We located the HFM evaluates research study revealed that the broker takes this extremely seriously. HFM account opening , on the other hand, takes the term ‘Consumer Responsive’ quite seriously. All information on 55brokers.com is only published for general information purposes.