Honest HotForex Review Find out what real traders say about this broker!

The commission on Premium Plus account is $10 per standard lot. There are also 44 indices and 3847 individual stocks from 23 different markets. Finally, Admiral Markets also provides a long list of 385 ETFs and 2 bonds which are rarely offered by other brokers. From a trader’s point of view, the Admiral Markets range of products limefx scammers is extensive and is ideal in a way that you can trade everything with just one broker. The broker provides financial security by segregating client funds and guarantees negative balance protection which indeed gives peace of mind to the traders. This bonus is applicable for the Premium and the Islamic accounts only.

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. These brokers are quite popular in Indian communities, probably because they don’t trade a lot of money. As a somewhat experienced trader I would advice my fellow traders to avoid HotForex and go for more trustworthy and regulated brokers. My HotForex review 2021 reveals that there is no professional team and they are working under a group of amateurs. Experienced traders always prefer the regulated brokers which provide complete details of the knowledgeable professionals from the finance industry only.

HotForex broker reviews

The professional traders can earn their income on the fees charged to their followers. The followers have to pay for the strategy, but they are guaranteed higher chances of success. 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. This is a brief review of the HotForex MetaTrader 4 platform.

Are you sure you want to miss out on great trading opportunities?

The time for a processed withdrawal to be received varies from nearly instant to as much as 10 days, depending on the withdrawal method. When you call the stupid HotForex customer support line, they make you wait hours and hours, playing some dumb tune on how HotForex is a supposedly good broker, wasting your credit. Usually HotForex only takes several hours to process my withdrawal via Skrill.

This insurance program includes market-leading coverage against any type of error, negligence, omissions, and fraud that may lead to financial loss. Rescue Bonus – The 30% Rescue Bonus is made specially for for traders, who want to protect accounts from periods of drawdown. The special offer can be lost without limitations and also limefx scam used as margin. LimeFX, registered with the Commodity Futures Trading Commission , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. Deposits are simple; withdrawals are just as easy, and you can review your account from a desktop, laptop or mobile device.

Absurd Payment Conditions of HotForex

I’d invested in a couple of index few years ago and I can boldly attest that their LimeFX packages have given me more than I ever wanted. Asides profit making, the user-interface and customer service are far better than other platforms I have tried in the past. As an aspiring millionaire, I value my time and money above all else. CRYPTONEST.ORG has done an excellent job bringing me on to the light of financial freedom. I certainly recommend them to everyone willing to invest out there. One of the market leaders in Runet as for me, there are no problems that could affect my desire to trade here.

  • HFM offers unlimited demo accounts for MT4/MT5, and traders may select their desired demo account balance from within the MT4/MT5 trading platforms.
  • If you make profits regularly, the same will happen to you…
  • To get you the HotForex review, we have opened a demo account and found that opening a demo account is not a complex task.
  • It is not common for Forex brokers to offer such access, but hot Forex engages its clients in direct market access.
  • The trader needs to click the verification link to complete the registration.
  • International multi-asset broker expands its product portfolio with commission-free stocks, welcoming investors to explore even more opportunities.

These platforms come with a wide range of opportunities. Besides, the platforms provide numerous tools and software to ease trading. MT4 and MT5 are easy to use, so anyone can use them regardless of their experience. However,HotForex spreadfees depend on the account types. For example, the micro account spread starts from 1 pip, while the zero account offers zero fees with average spread of 0.2 pips. Risk Warning – Trading CFDS, FX and Cryptocurrencies involves a high degree of risk.

Spreads are variable at HotForex, meaning that they will get wider or tighter depending on trade volume and market volatility. HotForex is a global CFD broker offering a relatively wide range of trading products including Forex, commodities, indices, shares, bonds, and ETFs – though it recently stopped offering crypto CFDs. The withdrawal time of HotForex varies based on the payment method chosen by the trader.

Demo Trading

HotForex provides various account types and payment methods. You can also trade MT5 here that is not supported widely by many brokers. You may need to use VPS to have the best execution because the ping is pretty high in in volatile time.

Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to use tool smartly. When it comes to theHotForex spread,they are transparent thoroughly. They usually charge a variable spread on trading, which is the difference between bids and ask prices.

Physical stocks, negative balance protection, great trading platform. Actually, I didn’t have many brokers in my trading career, give or take 3 or 4, I don’t remember clearly. This one amazed me by the amount of trading instruments and of course by detailed information depicted on its site. In fact, this thing was the first one when I entered the site.

HotForex broker reviews

There are 6 options but there is no clarity of the usefulness of these accounts in terms of beginner, intermediate and seasoned traders. The leverage conditions are far beyond the ideal requirements. HotForex does not have its proprietary trading platform although it has an API that it provides to large-scale financial institutions and banks for Direct Market Access. For retail clients, HotForex offers trusted MT4 and MT5 trading platforms. MetaTrader platforms are available as an application for both Windows and IOS. A web-based version and mobile application for Android and IOS are also available.

The Metatrader 4 platform of HotForex offers a user-friendly interface and offers fast execution and interbank liquidity. Also, it provides several benefits to the users and satisfies the advanced traders with several tools and resources. It is a powerful platform that permits traders to analyze price movements efficiently, make transactions, and help them to work with expert advisors. The above-mentioned features help the traders to start trading different types of markets.

HFM Pros and Cons

The traders get to enjoy as low as 0.0 pips but have to pay commission. It varies on where you live and what type of broker you use. But it is always very important to trade small pieces from your amount so you are not risking the whole capital in a few trades.

Got all my funds recovered after weeks of getting in touch with them… over $256,850 recovered after my trust wallet account was being hacked and manipulated. I was scammed twice before by fake recovery company who said they could help but didn’t. I suggest them adding the crypto assets in their trading list. If you are not new to trading, then it will be even easier for you to do business with this broker without training. Absolutely convenient to trade with them since they are about making your job real easy. It goes against our guidelines to offer incentives for reviews.

Make sure to understand the terms of each account type before signing in. Clients will gain access to over 100 securities, though there are some limitations; for example, crypto CFDs cannot be traded on weekends. Video tutorials are available without registration, and these cover introductory concepts, Metatrader tutorials, trading strategies, and lessons in economic theory. Both MT4 and MT5 are available as downloads, browser-based, and on iOS and Android devices. Mobile access is 24/7, and the mobile apps employ the latest SSL encryption technology for security.

Founded in 2010, HotForex provides trading facilities to retail and institutional clients around the world. HotForex is a unified brand name of HF Markets Group which operates in several countries including the UK, South Africa, and so forth. The brokerage firm provides trading in multi assets like Forex, commodities, and stocks through its various type of accounts. The company is regulated by various bodies around the world and has established itself as a reputed broker. Deposit Methods Forex Deposit Methods Discover which deposit methods smart forex traders use to make deposits and withdrawals in their accounts. The thing we like most about HotForex, though, is their customer support.

  • This insurance program includes market-leading coverage against any type of error, negligence, omissions, and fraud that may lead to financial loss.
  • Despite this, there are no deposit fees or some of the withdrawals are free as well, which we will see in our HFM review further.
  • The web trading MT4 and MT4 platforms can be used in various versions to suit your individual trading needs and to make your trading more efficient through WebTerminal, the desktop platform.
  • Claim your listing for free to respond to reviews, update your profile and manage your listing.

Using the MT5 WebTerminal implies that the traders need not download any additional software from their computer. They need to launch the WebTerminal on any browser, and they can start trading within seconds with all the functions just like a desktop platform. This helps the trader to execute trading wherever they are. HotForex has over 150 tradable assets, and it can be accessed through global markets. Some of them include metals, energies, indices, commodities, bonds, shares, and cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, and more. HFM offers a wide range of currency pairs along with cryptocurrencies, stock indexes, precious metals, and other commodities.

There is no debate on the topic that the workforce of the company implements the strict rules and regulations of the company. If the team does not have any details about the financial matters, they cannot understand the basics of the operations. Thus, my HotForex review advises traders to stay away from the company which takes no effort in providing origin and ownership details to traders. There are no austere rules and regulations which govern the regular operations of the forex brokers in those regions. There are no audits for the funds and they are not kept in segregated accounts. So, many shady brokers use the funds of their customers in other criminal activities of the region.

That’s it – 2 clicks and there is one more window that pops up and you click on Finish and you will see the HotForex MetaTrader 4 platform installed on your computer. If you want to have different accounts to test Expert Advisors, you cannot switch from one account to another. Specify the computer you useNow, when we do algorithmic trading, it is very important to be on the computer. Now, let’s go back to HotLimeFX and click on Platforms.

The currency conversion fee is based on the base currency and the payment provider. A zero spread account starts with a minimum deposit of $200 and offers spreads as low as 0.0 pips; forex traders need to pay commissions per traded lot. Based on the type of trading strategy, trading volume, and frequency of the trades, this account is beneficial to specific traders, and it is a bit expensive to other traders. HFM, formerly known as HotForex, is an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients. HotForex also offers amazing brokerage services, and the traders can participate in weekly webinars and QA sessions with the experts of the industry.

Does HFM allow scalping?

It is worth highlighting that HotForex continues to increment its offering with smaller improvements overall, which helps balance its otherwise diverse offering. If you would like a wider offering, check out some other leading forex brokers in the industry. This broker https://limefx.biz/ offers tight spreads that average EUR USD 0.1. Traders of any size or profile can happily access unrestricted liquidity and choose between numerous spreads and liquidity providers. HotForex provides a range of research tools suitable for all strategy types.