Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.
HOTFOREX review
By
8 mins read
Overview
Our 5-step process of verification and evaluation – How do we obtain information?
General inspection – 30%
Trading experience – 30%
Technical audit – 20%
Collective experience from collaborations with the broker – 10%
Interviews with real traders – 10%
See the entire process here.
Pros
Multiple regulatory bodies regulate it.
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Low spreads starting from 0.1 pips.
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High leverage of up to 1:1000 for professional clients.
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Has a wide range of trading assets, including forex, commodities, indices, and Energies.
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Excellent customer support with 24/7 live chat, phone, and email support.
Cons
Does not accept clients from the USA, Canada, Sudan, Syria, and North Korea.
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Hot Forex’s trading fees are slightly higher than average industry rates.
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HFcopy requires a minimum investment of 300 EUR, often considered steep.
General details
+44-203 097 85 71
Customer reviews
score
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Type of Trading Accounts on Hot Forex
Hotforex Broker offers its clients a range of account types to choose from. Five account types are available: Micro, Premium, Zero Spread, HFcopy, and PAMM (PREMIUM).
- Micro account: Hotforex’s Micro account type is an excellent option for those just starting with forex trading or who prefer to trade with smaller volumes. It has a minimum deposit of $5, You’ll have access to all available trading instruments, and with variable spreads starting from just 1 pip, you can keep your trading costs low. The maximum leverage on the Micro account is an impressive 1:1000. The account also features market execution, fifth decimal pricing, and the ability to trade in increments of 0.01 lots. You can open up to 150 simultaneous open orders; the maximum total trade size is 7 standard lots. The margin call is 40%, with a stop-out level of 10%.
- Premium account: The account type allows for variable spreads starting from 1 pip, with a fifth decimal option available. With a minimum deposit of just $10, you can begin trading and benefit from maximum leverage of 1:500. This account type also enables market execution with a trade size increment of 0.01. The maximum total trade size is 60 standard lots per position. The maximum simultaneous open orders for this account type are 500, with a margin call of 50% and a stop-out level of 20%. You can choose USD, EUR, NGN, or JPY as your account currency.
- Zero Spread account: With this account type, you get spreads from 0 on Forex and Gold, making it easier to maximize your profits. You can trade all available instruments and enjoy a maximum leverage of 1:500. The minimum deposit for this account type is $200, and the minimum trade size is 0.01 LOTS (1,000 units of the base currency). Plus, you get a personal account manager and the option for telephone trading. The account is available in USD, EUR, NGN, and JPY.
- HFcopy account: As an HFcopy account holder, you can choose to be a strategy provider or a follower. Strategy providers must deposit at least $500, while followers only need to deposit $100. You’ll have access to trading on Forex, Indices Spot, Gold, and Energies Spot markets. Spreads are variable and start from just 1 pip, while the maximum leverage is 1:400. You can trade in increments of 0.01 lot with a maximum total trade size of 60 standard lots per position. The account currency is USD, and forex pairs have no commission.
- PAMM (PREMIUM) account: You’ll have access to variable spreads starting from just 1 pip. Plus, you enjoy its contract size of 1 lot equals 100,000 units, so you can confidently make trades. You can easily get started with a minimum deposit of only $250 and a minimum trade size of 0.01 Lot. With a maximum leverage of 1:300 and no limit on the maximum total trade size, you can trade on your terms. There is also a margin call of 50% and a stop-out level of 20% to manage risk effectively.
Tradable instruments on HotForex trading platforms include:
- 90+ Stock CFDs.
- 2 Energy CFDs
- 6 Metal trading
Find the right answer to your question below.
In May 2022, the global multi-asset broker unveiled a fresh, new look as it underwent a visual transformation of its corporate name and logo. This was to accommodate the Broker’s reach beyond Forex trading. Now, HFM is known as HF Markets, or HFM for short.
HF Markets has been a legitimate and regulated broker in the industry for over a decade. Their clients range from individual traders to large financial institutions, and they pride themselves on providing top-notch trading conditions, security, and transparency. Hot Forex has won numerous awards for its excellent services and customer satisfaction.
To create an account with HFM, navigate to their website and click the “Open Live Account” button in the top menu bar.
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
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3.9/ 5
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4/ 5
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3.4/ 5
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4/ 5
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No
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See review
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4.2/ 5
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4.5/ 5
- 100$
- 1:50
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4/ 5
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4.5/ 5
- NFA
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Yes
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See review
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3.9/ 5
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4/ 5
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4.1/ 5
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3.7/ 5
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No
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See review
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3.9/ 5
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3.5/ 5
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4.3/ 5
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3.9/ 5
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No
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See review
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4.1/ 5
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4.2/ 5
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4.7/ 5
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4.1/ 5
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Yes
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See review
