دسته بندی ها

  • دسته‌بندی‌ها Forex Trading
  • نویسنده minoo
  • زمان مورد نیاز برای مطالعه 0 دقیقه
خرداد 16, 1403

HotForex: Read Our Forex and CFD Broker Review 2024

hotforex broker

Clients can access their accounts through the app and trade more than 1200 CFDs. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check regulation and verify it with the regulator by checking the provided license with their database. 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.

  1. If you prefer long-term strategies, you’ll be happy to learn that the broker also provides expert quarterly and annual outlook reports – a type of analysis that isn’t offered by all competitors.
  2. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability.
  3. This is a unique proprietary platform that we’ll discuss separately as it differs substantially from regular platforms.
  4. With 50 forex currency pairs available, HotForex gives you access to the most liquid assets in the world.
  5. They are involved with numerous charities, including the likes of Unicef and Red Cross, as well as sponsoring numerous events over the years, such as the 2017 Carrera Cup.

HotForex client protection

There is a live chat, a contact form, email support, and phone support via a local UK phone number. 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. HotForex have an https://forexbroker-listing.com/ 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 30 trading charting indicators available on the mobile apps and you have the full range of trading instruments to choose from with these apps.

Is HFM a regulated broker?

Typical spreads vary by currency and as expected, are in the quote currency. As some examples, BTCEUR and BTCUSD both have typical spreads of 30.0 while XRPUSD has one of 0.031. The margin requirement for all is 7 per cent and the typical spread varies by share. To provide some examples, the typical spread for APPLE is 0.48, for COKE is 0.04, and for GOOGLE is 1.6.

User Reviews

Our review team contacted the broker several times and each time the response was impeccable. Support is offered 24/5, via live chat, email, or phone, and you can expect efficient, knowledgeable, and friendly agents. HotForex provides you with an above-average range of trading signals and indicators. For starters, you can choose those created by the MQL5 Community, when using MT 4 or 5. This community provides comprehensive trading signals and suggestions from professionals in the field. As for indicators and technical analysis, each trading platform includes over 30 indicators to help you more informed trading decisions.

Similar apps

Metals at HotForex have low spreads and zero trading commissions, making the trading experience particularly lucrative. When reviewing HotForex’s trading platforms, we were impressed to find that the broker offers a full MetaTrader suite. This means that you can trade via MT 4, MT 5, Webtrader for both platforms, and the respective native mobile apps too. On top of that, if you are an advanced trader, you may be interested in the HotForex RapidTrader FIX/API.

hotforex broker

For example, the HotForex bonus 100% and 30% rescue bonus are great to keep the trader engaged. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. Methodology updates are made so that new broker features and products are taken into consideration. Review updates ensure that all the information we provide is current and correct. Educational eBooks and guides are offered within the Forex Education e-Course.

This is a unique proprietary platform that we’ll discuss separately as it differs substantially from regular platforms. HotForex offers you the ability to convert their main four types of accounts into Islamic accounts. You can open a Micro, Premium, Auto, or Zero Spread account, and then contact customer services to have it adapted. All Islamic accounts at hotforex broker HotForex come without swap fees, making them Sharia-compliant. Do note, however, that carrying charges may be enforced when positions on certain instruments are held for over 7 days. Whilst the broker says this isn’t an interest fee and so doesn’t constitute riba, you should ensure that you are comfortable with these fees before applying for the account.

hotforex broker

Margin requirements are 50 USD per lot, 1 per cent, and 1 per cent respectively. With HotForex, the amount of fees and commission that you have to pay will be dependent on what sort of account you have with them. Any trading account is eligible for this bonus, which is intended to help the traders if their trading is going opposite to their expectations. Besides that, traders can use the demo trading account, which is a great tool used by beginners, as well as experienced traders. The main commodities are copper, coffee, sugar, US Cocoa and US Cotton no2 are available for traders in HotForex. They come with very generous leverage and floating spreads that differ between commodities.

I also want to caution beginner traders against using a demo account as a full educational tool. It can create unrealistic trading expectations, and the absence of real risk produces a false psychological simulation of trading with real money. The four trading account types, plus a demo and an Islamic account, cater to various needs and cover the entire spectrum of trader types. I like the Cent version for testing new EAs or manual trading strategies. My preference remains the Zero option, which I recommend to all active traders. 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 broker boasts licenses from some of the most prestigious and well-regarded financial institutions, civil liability insurance, and great customer support. Not only does this prove that HotForex operates responsibly, but it also sets it apart from other high tier brokers. In addition to a universal free phone number, there are also separate toll-free phone numbers for specific countries. These are available for Russian, Chinese, Brazilian, Taiwanese, Indian, Indonesian, Nigerian, and Turkish clients. These videos explain various aspects of trading such as basic terms, how to use both MetaTrader 4 and 5, how to use technical indicators, and even trader psychology.

HFM offers unlimited demo accounts for MT4/MT5, and traders may select their desired demo account balance from within the MT4/MT5 trading platforms. Equity CFD commissions of 0.10% and trading costs on commodities, indices, ETFs, and bonds remain equally competitive. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. HFM offers traders commission-free Forex trading with higher spreads, a highly competitive commission-based alternative. Any review will indicate that this broker supports both institutional and retail clients.

Our HotForex forex broker review team was pleased to find that HotForex offers instruments in 8 different asset classes. Whilst the total number of instruments is less than at similar brokers, the different asset classes give you a chance to protect your portfolio by choosing non-correlated options. Moreover, there’s no indication that HotForex is stopping with what they’ve got, as they recently added a new instrument type – cryptocurrencies. If you prefer trading on the go, the good news is that both the MT4 and MT5 trading platforms are available as native mobile apps. This allows you to enjoy HotForex’s wide range of instruments wherever you are.

If you are new to trading, you’ll appreciate how easy these videos are to understand. Although cryptocurrencies are a new addition to HotForex, our reviewers were pleased to find that the broker still manages to deliver 12 of the most popular crypto pairs. You can trade the likes of Bitcoin/US Dollar, Ethereum/Euro, and Litecoin/US Dollar with just $1 commission. To open an account with HotForex, you’ll need to provide proof of identity and proof of address to have a live account. This process allows HotForex to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.

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. With this offer, traders can get a 100% bonus on their deposit, as well as cash rebates of 2 USD for every traded lot. 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.

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. 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. The Auto account allows you to copy automatically the advice given by the signals and indicators which are provided from expert analysis systems that have been created at HotForex.

It will take the bank transfer and credit cards between 2 and 10 working days for withdrawals to be fully processed. Withdrawals made through the likes of Neteller and Skrill will be processed almost instantly. There is also a version for general smartphones that do not fall under the Android or iPhone categories.

I can only recommend HFM, where traders get a broker who cares about them and understand the trading conditions that enable profitable traders to succeed. Multi-lingual customer support is available 24/5, and HFM transparently lists all contact methods on its website. HFM describes its products and services well, and it has plenty of videos and a well-structured FAQ section. I recommend live chat should traders require assistance for non-urgent matters and phone support for emergencies.

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