Client funds are held in bank accounts separate from those used by the company. Withdrawal methods are the same as the deposit methods except for the e-wallets available for withdrawals are limited to Skrill & Neteller. To make a withdrawal, go to the myHF area on your account and make a withdrawal request. The process normally takes one to five business days to process depending on the method of payment chosen. For Skrill and Neteller, specifically, it takes about 24 to 48 business hours.
- Paired with licenses from trusted institutions, this gives you a safe and stable trading experience.
- The range offers Micro, Premium, Zero spread, HFCOPY, PAMM Premium Accounts, and Swap Free Accounts, also you can select the Islamic Account suitable for traders from the MENA region or beyond.
- The central console window is also highly customizable, and the added bonus for HotForex users is that they can avail of the premium trader add-on from Blue Labs.
I recommend caution with trading contests, as they may promote reckless trading habits, especially among beginner traders chasing a prize rather than learning to trade. HFM offers unlimited demo accounts for MT4/MT5, and traders may select their desired demo account balance from within the MT4/MT5 trading platforms. They are ideal for testing strategies and algorithmic trading solutions. HotForex offers competitive spreads across all account types offered. Although, the Zero account which offers the most competitive spreads is commission-based and comes with ultra-low spreads and a small per-trade commission. The licenses held by HotForex customers should be reassuring to all traders.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. In this review, you can find all the information you need to decide whether is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how scored in each of our high-priority categories.
HotForex have an extensive education section as part of their platform to help their traders as much as possible. They have everything from live webinars to market analysis, general training videos and step by step courses. There are more than a dozen languages catered for through the customer support team and the support is available five days per week. They also have a comprehensive FAQ section in which you will very likely find answers to your questions. The minimum withdrawal amount is $5 for all options except the bank transfer, with the minimum withdrawal being $150. It will take the bank transfer and credit cards between 2 and 10 working days for withdrawals to be fully processed.
WebTrading Platform 🌐
These include Indices, Metals, Energies, Shares, Commodities, Bonds, ETFs, DMA Stocks, and included for last years offering to trade Cryptocurrencies with Bitcoin, Ethereum, Litecoin, Ripple and more. Based on our Expert finds, HFM provides good trading conditions that might be some of the best for Forex trading and CFDs trading, also available in a global scale for international trading. HFM is suitable for various traders including European clients, Africa and Asia traders, also beginning traders and experienced looking for good technical trading solutions.
Broker Types
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. Looking to the future, they have recently gained approval to operate under the oversight of the Dubai Financial Services Authority (DFSA). This clearly demonstrates their intention to continue fostering global trust in their operations.
HotForex pros and cons
As with most brokers of its type, HotForex does not allow for trading of shares in a traditional sense. Instead, the broker offers share CFDs, which allow traders to utilise leverage. HotForex is an international broker that specialises in offering CFDs and forex to clients from around the world.
What is HotForex? 📙
The HotForex leverage differs among the different tradable assets, such Forex, metals, energies, stocks, indices, bonds, commodities, DMA stocks, and ETFs. Here are the criteria we used to review and pick the forex brokers on this list out of the hundreds of forex brokers out there. The broker offers only a small range of markets in comparison to other leading multi-asset brokers.
In terms of withdrawals, they will start to be processed within 24 hours after the request has been submitted. While often times HotForex has interesting bonuses and promotions running, at the moment they do not having anything of note on offer. In the past for example, if a client deposited 250 USD into his/her approved Bonus Scheme Account he could receive a 100 % Supercharge Bonus Credit of 250 USD. If a client deposited 100 USD, he/she could receive 30 USD as part of a Rescue Program. The Rescue Program could be used as a stop loss as there is was no limitation in using it for trading. Unfortunately this is not a current promotion, but it may be worth looking out for such bonuses in the future.
From the beginning of the account registration process to thr start of trading took very little time.Verification process was also simple. I took photos of my documents and sent them for verification.There were no problems with the documents. So I was able to start trading almost immediately.I think that all this is because system that this broker has built allows all services to work well. Thank you for sharing your positive experience and for suggesting the inclusion of GBP currency. We truly value client feedback as it helps us in continuously improving our services.
The bottom line is that forced lockdowns and rising unemployment left people turning towards alternative ways to spend their time and/or to try and make an income. While some of us turned to 8 week yoga courses or Netflix binging, others decided it was a good time to start learning more about the forex market. With a wire transfer, however, a fee might be incurred depending on individual bank and international policies.
Minimum deposit for Union Pay is $50, while the others only have $5 minimum deposits. As you review HotForex forex account types, you will likely be impressed by the range of choices. There are Demo accounts in addition to Micro, Premium, Islamic, and Auto Accounts. 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. A HotForex forex review will typically let the reader know that this is one area in which the broker excels.
Their website is easy to navigate, although sometimes it redirects to , which is their EEA website. It takes 2-10 days to receive funds withdrawals to local banks and cards, while withdrawals to e-wallets are processed instantly or take 10 minutes. hotforex broker reviews HF Markets can be trusted because they are licensed by tier-1 and tier-2 financial regulators, under rules that ensure they protect clients’ funds. While our partners may compensate us, this does not influence our opinions, ratings, or advice.
The HotForex education client area is comprehensive and suitable for new and experienced traders alike. HotForex offers industry-recognised MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platform options. Installation is straightforward and the broker offers a 101 tutorial guide if you are having issues.