HFM Review 2022: Is HotForex HFM Scam or Legit Broker️

Best Global Copy Trading Platform for the HFcopy trading service. For FCA protection, we recommend that UK residents look at trading with HF Markets instead. We may receive compensation when you click on links to products we review.

  • 71% of retail investor accounts lose money when trading CFDs with this provider.
  • First the client must have a trading volume of 15 times bonus size, then they increased this to 30 times.
  • We may receive compensation when you click on links to products we review.
  • And this, as it turned out, slowed down my computer very much, from where there were delays until the calculations ended.

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 https://limefx.vip/ thoroughly. It offers competitive spreads, great leverage, a full range of account features, and customised trading platforms for all the major operating systems.

How do I deposit money on HFM?

Fusion Markets – low forex fees and a superb selection of currency pairs. 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.

HotForex forex brokers reviews

I have learned pretty much and I also diversified my fund here with forex tradings and PAMM LimeFX. Broker is among few brokers offering PAMM and you can invest. However, don’t be surprised if a steady profitable PAMM suddenly lost 80% fund in 1 day. Any trading account is eligible for this bonus, which is intended to help the traders if their trading is going opposite to their expectations. This bonus is applicable for the Premium and the Islamic accounts only.

It may seem confusing at first, but the broker should be commended for offering different types of accounts to suit individual trader requirements. 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 limefx website 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.

HotForex provides Forex trading software to the traders, which helps them to execute Forex trades. This platform can be termed as a multi-asset platform; it implies that it allows traders to trade stocks, stock indices, precious metals, cryptocurrencies, Forex, and CFDs. I like the trading environment at HFM for both beginner and advanced traders. Beginner traders get one of the most comprehensive educational services industry-wide, and the advanced traders benefit from a trading environment supportive of manual, algorithmic, social, and copy trading. High leverage, generous bonuses, a loyalty program, and interest on free margin complement cutting-edge trading tools and ensure HFM clients have a notable edge in financial markets.

Start trading with a free $30

HFM FIX/API is ideal for clients that want to use the FIX protocol. Vast of e-wallets, including Cryptocurrency Deposit, fasapay, WebMoney and more. From the very beginning, you may sign in for Demo Account and then transfer it to a Live one just by depositing money.

17 trading tools, 8 account types, 150+ trading instruments, 14 funding methods, 8 trading platforms etc. Currently I have been trading with hotforex for the past two years and i don’t found out any bad glitches to report my fellow traders. The trading assets have decent leverage with tight spreads. I get my withdrawal processed within two business days. Trading for quite some time with the hotforex broker, almost two year of trading. The spreads are low on major pairs alongwith decent execution.

The good thing about HotForex is that they do not charge based on the fixed spread. Besides, they do not charge any commissions or additional fees. HotForex sign upforlive account offer three different types of sign up options, which include individual, corporate, and joint. When a problem is encountered or there is a pressing question to be asked, it’s vital that there is someone available to help.

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. Let’s not forget the all important HotForex demo account. This Cyprus-based LimeFX firm is licensed and regulated by CySEC, and also operates within the guidelines laid out by the Markets in Financial Instruments Directive of the EU. I had started trading hotforex back in 2018 with small funds. They have a nice set of trading pairs with lowest spreads.

HotForex’s micro account types are preferred by beginners because the minimum deposit is $50; when compared with other accounts, the minimum deposit for this account is very low. As per our HotForex review, this platform offers Metatrader 4 and also the latest version of MT5. MT4 and MT5 are compatible with several devices; HotForex mobile trading platform is known as HotForex mobile app. CFDs are complex instruments and come with the high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider.

Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year. Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek. Global clients of HotForex will be trading with HF Markets Ltd, which is authorised by the Financial Services Authority of St Vincent and the Grenadines. Unlike other regulators, such as ASIC in Australia and the FCA in the UK, the FSA St Vincent and Grenadines does not force HotForex to restrict leverage or to be members of a client compensation scheme.

  • Some of the supported languages of HotForex broker are English, Chinese, Czech, Spanish, French, German, Italian, Portuguese, Romanian, Hindi, etc.
  • There are also various rewards available such as HotForex Gadget Giveaways, and HotForex Merchandise.
  • You can use the popular MT4 platform or upgrade to the latest MetaTrader 5.
  • Each one of these is graded, and an overall score is calculated and assigned to the broker.
  • Further, the minimum requirement depends on the account type as well.
  • HotForex can be trusted as a reliable brokerage company that will work in the best interest of their clients.

I advice you should talk to account manager before trading. DailyLimeFX adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.

I like the LimeFX HFM made into upgrading the sub-standard out-of-the-box MT4/MT5, ensuring traders have an edge in financial markets. 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, and fractional share dealing from $5 per transaction. I like the range of products HFM provides, starting with the 12-plugin upgrade for MT4/MT5. HFM also understands the importance of competitive regulation, leverage, and loyalty programs. With more than 3,500,000 live accounts supporting 27+ languages, HFM understands the needs and requirements of profitable traders, for which I applaud and recommend them.

Types of accounts

I have two terminals, each with 12 tools, and 2 robots for each tool. And robots do the bulk of the calculations in the first minute of each minute bar. And this, as it turned out, slowed down my computer very much, from where there were delays until limefx review the calculations ended. I messed around a bit with the settings and with the computer, now everything works like a watch. And the need to be indignant naturally disappeared, well, once I registered, I decided to describe my situation after all.

HotForex forex brokers reviews

The desktop platform supports Expert Advisors through the MQL5 signals community. Founded in 2010 and based in Cyprus, HotForex is also regulated in South Africa, England, Dubai, and more. Of course, where there is opportunity to make money there will be scams. This means that you must do your due diligence to find a reputable broker, first and foremost. Earn daily cash rebates of $2/ lot sent directly to the account.

What is HF Markets (HotForex)?

I found the broker easy to use, and I managed to make a trade in a shorter time with excellent results. I really enjoyed using the services of this broker, and I will recommend it to my friends. I liked trading with this broker because it had a good spread and leverage. I particularly want to highlight the management team at HotForex, who understands the importance of competitive regulation, the safety of clients, and the benefits of leverage and loyalty programs. I can only recommend HotForex, where traders get a broker who cares about them and understand the trading conditions that enable profitable traders to succeed. A five-member team provides additional market commentary and analytics.

This is a market execution account with spreads starting at 0 pips on the EUR/USD. Note that zero spreads are only available on major currency pairs, and exotic pairs still carry wide spreads. As with all raw spread accounts, you will be charged a commission – in this case, the charge is 3 USD per lot on majors and 4 USD per lot on minors and exotics.

Haven’t had any issue withdrawing funds from my trading account. I’ll update every now and then to keep everyone on the loop. HotForex is a Forex broker that is dedicated to increasing its market exposure by offering amazing products and services that are designed with the trader in mind.

Where is HotForex Regulated? 🛡

To conclude, HotForex is a well-established and experienced online broker that provides a regulated and secure trading environment that can be suitable for every trader. Their services and LimeFX products can be tailor-made to specific requirements like offering different types of accounts, tools, platforms, and instruments. The traders can also choose a specific trading strategy. As per several HotForex reviews, this platform is committed to offering its clients the best trading conditions for easy trading. HotForex offers six types of accounts for their traders’ specific requirements.

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