HotForex forex broker: Hotforex Review 2023: A Complete Detailed Analysis!

HotForex never misses an opportunity to treat its Partners in a best way possible. Last time global multi-asset broker surprised them with withdrawable rewards from a legendary $2,000,000 prize pool for its 10 Year Anniversary. This time it is a new program, RevShare+, designed to bring HotForex Partners specific rewards that are even more generous than before and…

HotForex offer KES base currency Trading account, as well as USD. There are six account options on offer on the HFX platform, namely Micro, Premium, Zero Spread, Auto, PAMM Premium, and HFCOPY accounts. The minimum deposit for a Micro account is just $5 , while the other five account types have much higher minimum initial capital requirements of $100, $200, $200, $250, and $500 respectively. With Hotforex, you have a number of options with regards to the trading platform that you can use. You can use the popular MT4 platform or upgrade to the latest MetaTrader 5. These platforms are well known for the different tools and resources they offer to their clients.

The Trustpilot Experience

HotForex was established in 2010, and it has expanded its presence in more than 100 countries. HotForex is regulated by the Financial Conduct Authority in the United Kingdom. HF Markets group is divided into two divisions, HF Markets UK Limited and HF Markets Europe Ltd. HotForex offers several account types, trader tools, and software to facilitate institutional and individual customers to trade derivatives and Forex online.

With leverage of 400, you can open a trade position worth up to 400 times the value of your deposit. For example, with a deposit of 1,000 KES, you can place a trade of 400,000 KES. Rather, this broker company has extremely low slippages and swap. Online Payment Methods – Withdraw a minimum of $5 instantly using FastPay, Neteller, and Skrill. Traders Board – The Traders Board is a great way to get the latest market news, gauge market sentiments, and identify top currency movers. The HF App – Traders can download the HF App to get daily market analysis, direct access to their myHF area, and live streaming of market rates.

One of the key components of HotForex as a broker is to cater for all of the potential needs their customer may have. This is why they have a massively diverse range of account types available for you to choose from, with seven different options on offer, which is extremely high in this sector. At the point https://limefx.name/ of registration, your trading account currency is set to KES automatically. HotForex offers a 50% Welcome Bonus Program to new traders on their first deposit. With this offer, you get 50% of your deposit balance in additional trading funds. The offer is only available to people who use the MT4 platform.

Above all, some Kenyans who have used HotForex have reviewed it as being real, as they were able to deposit and withdraw their funds. You can select other withdrawal and deposit options, then follow the prompts/instructions to complete the deposit or withdrawal. Here is a summary of payment methods for withdrawals accepted on HF Markets. To get a swap-free Islamic Account on HF Markets, first, create a Micro, Premium or Zero Spread Account then contact the HF Markets customer support team to convert your account to a swap-free status. This account allows you to trade forex, indices spot, gold, energies spot, BTCUSD and BTCEUR.

Mobile Trading Platform

There are many different version of MetaTrader 4 available with HotForex, including their desktop, multi-terminal, web browser, iPhone, iPad, Android and general smartphone versions of the trading software. Leverage is going to change depending on the type of account and the type of instrument you are looking to trade. The execution venue for Clients orders is HF Markets Ltd, a company incorporated in the Republic of Mauritius and regulated by the Financial Services Commission . Whether you are a registered user or not, you can access the live chat. You can request a call back via their live chat, and a representative will call you, you will have to submit a valid phone number and email address for this to work. Step 4) After clicking Bank Transfers, further select wire transfer, you will then be required to choose to make your transfer deposit to HotForex in KES or USD or EUR.

Another good option to look at is metal trading xau and xag are good options to trade too. Global broker HotForex has confirmed that its HFM LimeFxs Limited subsidiary got licensed by the Capital Markets Authority of Kenya, under license number 155. This prestigious license will strengthen broker’s international offer and will guarantee the highest level of security to even more clients around the world. Established in 2010, this multi-asset international broker has become a choice to… Of course, there is a mobile trading platform as well a HFM Mobile Application with an option to trade “on the go”. MT4 and MT5 mobile trading are actually known for its advanced capabilities and interactive charts with almost the same productivity as its full versions.

Broker Information

The trader should always know various high risks involved in the leverage as several retail trading accounts lose money rapidly due to high leverage. Leverage levels of HotForex brokers are settled as per the regulatory requirements, according to the region and the finance level. HotForex is regulated by several entities, and it makes it safe and legit for the traders to carry out trading. Also, it provides a wide range of financial instruments and offers excellent trading opportunities through the use of technical trading tools that help the traders to leverage their profits. It has a secure crypto trading environment, easy-to-use platform, and competitive spreads, where it comes as a one-stop solution for all the user’s trading requirements.

HotForex offers a top-tier trading platform which is accessible from nearly any device. If you believe any of your trades were not executed correctly, please email confirming your live trading account number and the order numbers you are referring to, so this can be investigated. The withdrawal time of HotForex varies based on the payment method chosen by the trader. HotForex processes the request within 48 hours, and the time taken for wire transfers and credit cards will take 2-10 working days. HotForex segregates the client funds that they have received to their bank accounts and separates them from the company funds.

HotForex PAMM program is an LimeFx program that permits any trader a chance to invest their money without the need to trade the market themself. The PAMM program allows their fund managers to earn extra revenue for managing their client funds successfully. Depositing via bank transfer will take between 2 and 7 working days whereas the other options will have their deposits processed almost instantly. In terms lime fx of withdrawals, they will start to be processed within 24 hours after the request has been submitted. 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. In terms of the trading instruments offered by HotForex, you can deal with everything from cryptocurrencies, Forex, metals, indices, shares, energies, commodities and bonds.

It offers 47 currency pairs, cryptocurrencies, and access to over 1,000 securities including precious metals, commodities, stocks, bonds, and stock indexes. Mobile trading is offered with MT4, MT5 mobile apps as well as proprietary HF App . HotForex provides a wide range of withdrawal and deposit methods, including credit and debit cards, bank wire transfers, numerous e-wallets like Trustly, Neteller, Skrill, and several others.

The FSC is supported by the Ministry of Finance and Economic Development of Mauritius which means that it is very influential. The financial assets of clients are handled by a third party and kept safe from abuse. Customers enjoy their trading rights under the law and are free to enter the business without fear of being ripped off. Like a lot of forex brokers, HotForex utilises MetaTrader as their trading platform. This is ideal for those traders who are well used to using this trading platform and it is quite easy to pick up for those who don’t have any experience using it. Multi-asset international broker HotForex offers its traders to trade CFDs on the stocks of over 900 companies during Earnings Season.

Free Forex Education

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.

I didn’t expect the trading environment of this platform to be so good, especially the PAMM account and copy trading account, which made me quite satisfied. However, it is recommended that those of you who are inexperienced start trading honestly from a micro account. 74-89% of retail investor accounts lose money when trading CFDs.

It avails all the required resources needed by traders to study new trading techniques and develop their trading skills. The broker has more than 30 forex videos and more than 20 educational tutorial videos. I have been trading with this reliable broker for the past two years. Direct Market Access is a way of placing trades directly onto the order books of…

Their support service is poor, all my money I put was lost, I couldn’t withdraw, and I stopped using their service when I came across benarmstrong-trades. Com , my first week I made up to 9,000 with deposit of 550, if I’ll recommend platform it’s Ben Armstrong trades cos their support is good and there’s no restriction like I had in HotForex. Hotforex is a flexible company when it comes to spreads and commissions with the broker allowing both fixed and floating spreads.

HotForex has another independent platform as well, which is called the Webtrader. The browser-based platform requires no download and is easy to use as well. These platforms are accompanied by the corresponding HotForex mobile app for iPads, iPhones, Android devices, and even Blackberries. The mobile trading trend keeps rising given that no one wants to miss out on a good trading opportunity due to unavailability. Therefore, many people prefer to observe the market changes several times a day; and to avoid sitting in front of the desktop computer, they conveniently do it over their mobile phones. A number of currency traders around the world trust HotForex because of the well-balanced regulation.

• Mainly, it has created opportunities for investors to regain income lost through layoffs or forced lockdowns.
• HFM, a global multi-asset broker, has made an intriguing advancement by introducing Kate, its virtual analyst.
• When it comes to research, HotForex aims to give its clients strategies an edge through its analytical and research tools.
• HotForex iPad Trader– This platform offers a full-functionality trading solution for trading on the move.

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 scammed by limefx 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.

Deposit Methods

If you’re still unsure whether to invest in forex or not, there are some key aspects every beginner should know. Firstly, forex is full of potential to earn money if you know what you’re doing. To avoid the catch 22, you will need a broker that can guide you along the way.

The currency conversion fee is based on the base currency and the payment provider. As an international broker company, HotForex maintains a multilingual customer support service, namely in 12 different languages . Customer support plays one of the major roles in the business, since everything takes place online, and one might need assistance with all the rules, account types, trading platform, and everything else.

Each of the account types brings good flexibility and allowing to choose based on your trading strategy, allowing either beginning traders, investors or professionals to find its own way in trading. 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. In summary, HotForex is a global broker know for the numerous accolades it has received and the various products that they offer.