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Fast execution of trades, withdrawal via skrill takes within two day, and spreads are also bearable. No, HotForex does not offer a commission-free trade bonus. The broker does however offer low trading fees and competitive commissions and spreads. Hotforex does offer 4 ZAR base currency accounts for traders in South Africa.
HFM holds reliable top-tier licenses, is one of the biggest Brokerages worldwide, while the only point is International trading available via the offshore entity. In addition to its main license from CySEC, the broker holds other licenses to be able to serve clients from some specific jurisdictions including South Africa, Dubai, England etc. Besides, wee see obvious evolvement in HFM growth and regulation, now Broker operates fully legally in Africa region too with South Africa and Kenya obtained licenses. On the other hand, HFM has limited portfolio for EU clients, with only Forex and CFDs are offered. Also, international trading is done via offshore branches with lower requirements, however HFM has good reputation so is considered to sign in.
- If you want HotForex to hold your hand, the customer support team is more than capable.
- Traders with HotForex can choose from trading US Natural Gas, UK Brent Oil, or US Crude Oil futures.
- Besides broker issue its very own HFM MasterCard for a straight transaction and the ability to make safe online payments.
- 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.
- HFM also offers derivatives trading on the stocks of the world’s most important companies.
The Dubai Financial Services Authority is the financial regulatory agency… Vast of e-wallets, including Cryptocurrency Deposit, fasapay, WebMoney, and more. Important to consider, there is a fee charged in case you didn’t use your account and show no activity for 6 months or more. After this your account limefx scam entitled to 5$ HFM inactivity fee per month. From the very beginning, you may sign in for Demo Account and then transfer it to a Live one just by depositing money. No, HFM is not a scam, we consider HFM a safe broker due to being licensed by several top authorities including FCA, FSCA and CySEC.
Traders can use virtual money up to $100,000 so that they do not risk any money from their equity. Newcomers in the market can take advantage of the demo trading account in order to learn more about the market and grow as traders. The account can be very beneficial for beginners as it gives them the opportunity to trade with virtual funds, with zero risks. The broker also offers a mobile version of the trading platforms, which means that you can trade Forex with HotForex from anywhere you are.
The only thing that disappointed me was that there were no cryptocurrencies I wanted to trade. First thing I have noticed is the high speed of execution of orders. Only a week ago we have been informed that HotForex has acquired a license to operate in the UAE and now the broker has revealed that it has got the esteemed Financial Conduct Authority license.
What are the Platforms and Tools for Forex Trading in HotForex?
Additional features – Hotforex also provides additional tools and education which help in better trading experience. Tools like VPS Hosting Services, Trading Calculator, Premium Trader Tools, Economic Calendar, Auto Trading, etc. aid trading in every way. The education part is also highly customized with e-courses, webinars, video tutorials and events.
When it comes to metal and energy spot CFDs, broker offers six instruments, with margin requirements of 0.5 to 1.5 per cent. The typical spreads vary by asset, with UK Brent Oil and US Crude Oil at 0.05 each. HotForex offers its traders the opportunity to trade directly in global stock markets, offering 8 counties’ stock exchange markets, and each market has its own listed corporations’ stocks.
Is HotForex Regulated in Europe?
HotForex covers that by providing bilingual customer service representatives who can be reached 24 hours a day during the normal trading week. They are available at the end of the phone, via email, and by live chat. There is also an online contact form in which you can request a callback. VIP trading account – Minimum trading volume is half a standard lot, and benefits increase alongside trading volume.
100% Deposit Bonus – Receive a 100% Bonus on Deposits (Max Bonus $5,000). Deposits times will vary depending on the chosen deposit method. Bank wire transfers take 2 to 7 business days, credit/debit cards and Skrill take up to 10 minutes. To open a Forex Trading Account with HotForex, a trader should follow the steps below.
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.
Traders will be required to upload a selection of requested documentation before they will be able to select a Forex trading platform. All information on 55brokers.com is only published for general information purposes. We do not present any LimeFx advice or guarantees for the accuracy and reliability of the information. Unfortunately, I do not remember whether this broker has Paypal.
They have margin requirements of 5 per cent and 1,500 USD respectively. Most of the instruments available via this broker will be found in a CFD review. Clients can trade CFDs for metals and energies as spot contracts or futures, spot or future indices, shares, spot and future commodities, cryptocurrencies, and bonds. When a problem is encountered or there is a pressing question to be asked, it’s vital that there is someone available to help.
This HotForex review could not find an obvious FAQ section on the broker’s website, which is a severe lack. HotForex Trading Rewards – There are four different reward levels, and the more active days accumulated the more you can earn for each round-turn lot that is traded. Yes, HotForex is a regulated broker by the authorities of St. Vincent and the Grenadines, as well FCA, FSCA, CySEC, and DFSA, which are the most recognized certifications for conducting International transactions. Besides that, famous figures such as the ex-footballer Michael Ballack and the Hollywood actor Sean Bean become the faces of the company. This reflects nothing but a reliable image of this broker.
What is HF Markets (HotForex)?
They used to have excellent customer service i don’t know why they are not replying currently on their live chat, but the account managers are extremely dedicated and can go as far as possible to fix or clarify issues. HotForex is an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients. There is a minimum trade size of 0.01 lot and the trade size increment remains flexible at 0.01. The Premium Account uses the MetaTrader4, MetaTrader 5 platforms as well as the WebTrader and any of the available mobile trading platforms. Forex Trading Platform and Financial Asset Management Institution HotForex has 5 different account types.
While a CFD is a unique trading tool used by advanced investors, novice investors can use the basic tools at HotForex to make money without overcomplicating the process. Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your LimeFxs objectives and level of experience, before trading, and if necessary, seek independent advice. Read our MetaTrader guide to learn about one of the most popular trading platforms in the world. To read about the newest version of MetaTrader, check out our guide to MetaTrader 5. On 3 separate occasions I have been stopped out despite market movement going anywhere near my stop loss.
Besides that, traders can use the demo trading account, which is a great tool used by beginners, as well as experienced traders. HFM offers clients multiple deposit and withdrawal options, including Bank transfers, Credit and Debit Cards. The Forex market is the largest financial market in the world, trading trillions of dollars ($) per day. HFM clients can directly take part through the HFM MT4 and MT5 trading platforms. HFM offers Islamic swap-free trading on 3 trading accounts levels, Micro, Premium, and Zero Spread respectively. HFM offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
Taking the above into consideration, we highly recommend Hotforex forex broker for traders based in Kenya. Apart from that, MT4 Multiterminal provides access to multiple accounts simultaneously. Both MT4 and MT5 have the required technical analysis tools and Expert Advisors options for better trading experiences. Hence, all the orders will be executed in the live market conditions and at the real market prices. In short, the absence of a dealing desk is what makes the broker’s trading platform STP, and more transparent without any intervention.
What is HFM?
This mobile app can be downloaded for Android and iOS users. Commission costs will apply to Zero Spread Account holders only, spread costs will apply to all account holders except for Zero Spread Account holders, and swap costs are for users that do not hold a swap-free account. They offer MetaTrader4 and Meta Trader5 trading terminals which are as good a platform as any other . Their platform is perfect for forex and futures trading, and is developed by MetaQuotes Software Company. There are 5 different types of HotForex Live Trading accounts.
HotForex is a very popular modern-day Forex broker, and has a lot to offer all types of trader. We found everything very easy to navigate and enjoyed the experience thoroughly. It offers competitive spreads, great leverage, a full range of account features, and customised trading platforms for all the major operating systems.
When you want to invest in forex, for example, you view and interact with real-time and historical charts with several useful pieces of information. ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards. To see the complete list of Industry Award winners , check https://limefx.group/ out our ForexBrokers.com Annual Awards page. Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions. The time for a processed withdrawal to be received varies from nearly instant to as much as 10 days, depending on the withdrawal method.
The Financial Conduct Authority is a financial regulatory body in the United Kingdom, but operates independently of the… HF Markets, known by its trading name HotForex, has got its license from the Dubai Financial Services Authority and has now announced about the operations in the United Arab Emirates . HF Markets already has operations in the UK, South Africa, and Cyprus.
In addition to the English language, the support team is operative in Arabic, Spanish, Chinese and Korean language. The main reason behind this is to make sure both the broker and the trader have common ground and can understand each other. HotForex reviews are accompanied by the successful sponsorship of the French football club, Paris Saint-German.