Broker «HF MARKETS (HotForex)» Review

HF MARKETS4 min read

Broker Review

The work of HF Markets is regulated by CySEC and has the necessary international license from this organization, according to which the broker has the right to provide investment services around the world. The company provides software and tools for trading Forex and trading commodities online. All company customers can use the interbank market spreads and access to liquidity using modern automated platforms. It is possible to choose favorable conditions for trade. All orders are executed instantly through ECN/STP systems.

Platforms

Usability

Assets

Users rating23 Votes

Pros Broker

Extensive list of trading tools

Copy transactions

Wide range of account types

Multiple trading platforms

Cons Broker

Slow customer support

High trading fees

Some withdrawals are delayed

The platform hangs periodically

Overall Broker Rating

Visit Broker

HF MARKETS

Review of the company

HotForex was founded in 2010 and is a popular broker in the financial market that offers its services for earning on automated trading platforms for both private and corporate clients. The broker’s policy is to provide good trading conditions for traders with different Forex experience, providing scalpers and other clients unlimited access with the help of advisers to their liquidity. HotForex is rewarded with several forex awards and it is increasingly chosen by traders from around the world.

HotForex has earned a reputation as a reliable and honest broker due to the following advantages:

Best Forex News & Analytics Provider 2016 – Mena Dubai FX Show
Best FX Online Broker 2015 – New Europe Magazine
Best Customer Service 2015 – European CEO Awards
Best Forex Broker in China 2013 – CIOT Expo
Best Asian Online Broker 2013 – World Finance Magazine
Top 100 Companies – World Finance Magazine

There are a number of good reasons to choose HotForex as a Forex broker, and the most important of them is that there is a good opportunity to trade in smaller volumes, which is great if you are a beginner or your Forex trading budget is limited. The customer support is excellent, and there are a number of interesting HotForex bonuses. Spreads are low, and deposit limits are minimal.

Broker regulation

The office of the HotForex investment company is located in Mauritius, and the official trademark is owned by HotForex Markets Ltd, registered in Saint Vincent and the Grenadines. The company conducts legal activities, as evidenced by the relevant licenses: Financial Conduct Authority (FCA), Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), number 183/12. The broker is also under the control of this regulatory authority. Today, HotForex is a successful currency broker who has earned a reputation as a reliable and honest consultant and provider of unique automated systems.

All documents are posted on the broker’s website and give an understanding that the finances of HotForex clients are under reliable protection both during trading and during withdrawal to personal accounts.

Account types

With HotForex there is more than just a couple of account options, which means that most traders will be able to find one that suits their needs. For new customers, the best option is a HotForex broker to open a micro-account. The minimum deposit is only $50, and the maximum leverage (depending on trading instruments) is 1:1000. Spreads are variable and start at 1 pip.

HotForex traders with a bit more experience will be better off looking at premium and VIP accounts. This is a great option for traders who prefer to open large positions on narrower spreads. All three of these accounts require a minimum deposit of $500.

For traders who prefer to trade with a fixed spread, there is a Fixed account. This type of account has low fixed spreads, a maximum leverage (depending on customer satisfaction assessment) of 1:400 and a minimum deposit of $500.

Social trading HotForex has become a very popular option, and with HotForex traders can communicate with more than a quarter of a million other traders, tracking and copying their successful transactions. The used hot forex trading platform is a very popular choice among traders.

Platform and trading opportunities

The broker offers trading on HotForex MT4, HotForex MT5 and the HotForex PAMM system, which are specialized versions of the company’s most popular trading platform in the world. In addition, the original MT4 and MT5 * download is available on MT4 and MT5 servers. Trading on the platform is possible with currency pairs, metals, indices, stocks, cryptocurrencies and CFDs.

On the HotForexStat trading platform, traders have the opportunity to communicate with other traders around the world, as well as track and copy successful transactions.

Withdraw funds and customer support

HotForex supports a fairly standard range of deposit options. To withdraw money after a successful trade, just one day is enough. To do this, you need to confirm the trader’s account, which once again speaks about the reliability of HotForex.

In case of misunderstanding, traders can contact customer support, which works in 27 languages and is available 24 hours a day, 5 days a week. Several phone numbers and email addresses provide traders with direct free access to customer service in their own language. This is an indicator of a customer-oriented culture, which is one of the broker’s missions.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Broker Screenshot

Full Broker Name

HF Markets (SV) Ltd.

Deposit

Country

Founded

$/€/£ 50

2010

Basic Information

Help Broker Country

Not all brokers offer their services to traders in each individual country in the world, and you need to make sure that any broker in which you «open an account» is fully licensed and regulated by the licensing authority of your country. The United States, Japan, the United Kingdom, Switzerland, Australia and the Eurozone offer strong regulation that you can trust. If you choose a broker based outside of these zones, make sure that the broker is regulated by proper regulation bodies.

This broker is located in: Saint Vincent And The Grenadines

Country: Saint Vincent And The Grenadines

Help Main Type of Broker

Broker - is a company that provides its customers with the opportunity to trade in the foreign exchange and other markets.

Market Maker (MM) - most often these brokers do not send orders to the interbank market, but only enter into transactions with the client, of course, they take prices from this market, that is, they create their own market.

Dealing Desk (DD) - a dealing desk broker is a market maker. Market makers typically offer fixed spreads and may elect to quote above or below actual market prices at any time.

No Dealing Desk (NDD) - an NDD forex broker provides direct access to the interbank market; it can be an STP or STP+ECN broker.

Straight Through Processing (STP) - its feature is to offer its participants entry / exit to the real exchange market and market prices, and they also have the right to execute orders immediately without involving the Dealing Center.

Electronic Communication Network (ECN) - provides a trading place where all participants (banks, market participants and traders) trade against each other by bidding within the system.

Direct Market Access (DMA) - technology of access to the market directly, bypassing the broker. DMA offers better execution transparency: orders are sent to the market and are being filled according to available quotes provided by liquidity providers.

Type of Broker: ECN/STP

Help Main Regulations

National Futures Association (NFA) - is a national futures organization that controls financial companies in the United States.

Financial Conduct Authority (FCA) - is an independent non-governmental financial regulator controlled by the UK Treasury.

Bundesanstalt für Finanzdienstleistungsaufsicht (BAFIN) - is the German Federal Financial Supervisory Authority, which is the central authority over financial markets and companies located in that country.

Markets in Financial Instruments Directive (MiFID) - is a special EU directive developed by the FCA to monitor financial transactions in the 27 member states of the European Union.

Cyprus Securities Exchange Commission (CySEC) - state regulatory body of investment and currency organizations in the Republic of Cyprus. As Cyprus is a member of the EU, the work of the Cyprus Commission is carried out in full accordance with the approved EU standards (MiFID European Directive).

Australian Securities Investments Commission (ASIC) - it is an Australian securities regulator that oversees the activities of financial markets.

Swiss Financial Market Supervisory Authority (FINMA) - is the Swiss government body responsible for financial regulation.

Regulation(s): CySEC, FCA, CIMA, FSC

Help Main Types of Platforms

MetaTrader - is the most popular and widespread trading platform. Millions of traders around the world trade on it.

WebTrader - is a terminal for online trading in an Internet browser. WebTrader is developed on the basis of MetaTrader and can work separately as an independent trading system.

cTrader - is designed for trading on the ECN market and uses STP and NDD technologies, which guarantees the broker's non-interference in the trading process.

NinjaTrader - is a high-end platform for professional trading in both currencies and stocks, futures and other exchange-traded instruments.

MirrorTrader - is a trading platform that provides unique tools for trading: real-time signals, charts, indicators, oscillators and various helpers for studying the chart.

xStation - is a multi-functional trading platform, perfect for manual traders, hedge fund managers and social traders.

SIRIX WebTrader - is a trading platform provides instant access to global financial market trading (Forex and CFD) and a social network of traders.

Trading Platform(s): MetaTrader 4, MetaTrader 5, Mobile, WebTrader

Help Main Types of Assets

Currency Pairs (Forex) - the foreign exchange market is the largest financial market in the world, with thousands of related participants.

Contract for Difference (CFD) - an agreement between two parties, commonly referred to as “buyer” and “seller”, to pay each other the difference between the price of opening a position and the closing price of a position on a traded instrument.

Exchange Traded Funds (ETF) - are a type of investment fund that tracks underlying assets like indices, bonds, commodities and divides ownership of those assets into stocks.

Stock Market Indices - are financial instruments that represent the value of the underlying publicly-traded companies.

Equities - also known as stocks, are stocks that are owned by state-owned companies. Within this asset class, there are further differences between stocks with large, medium and small capitalization.

Options - this is a type of contract that provides the right to buy or sell a certain amount of an asset at a certain price on a pre-defined time.

Crypto - works exactly the same way as the classic version of the contract for difference in prices (CFD).

Types of Assets: Forex, Metals, CFDs, Indices, Stocks, Energy, Crypto

Help Accout Currency

A foreign exchange account, or Forex account, is used to hold and trade foreign currencies. Typically, you open an account, deposit money denominated in your home country currency, and then buy and sell currency pairs. Your purpose, of course, is to make money on your trades.

Accout Currency: USD, EUR, JPY, GBP, AUD, CHF, NZD, XAU

Trading Сonditions

$/€/£ 50 Minimum Deposit:

$/€/£ 0.01 Minimum Trade:

Yes Demo Account:

Yes Crypto Trading:

Yes Social Trading:

Yes Analytics:

Yes Education:

1:1000 Maximum Leverage:

Yes Allows Scalping:

Yes Allows Hedging:

0.3 - 1.9 pips Average Spreads:

Payments Method

Visa Maestro Mastercard Neteller Bank Transfer WebMoney Skrill Perfectmoney UnionPay FasaPay PayPal Western Union

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