HFM Review formerly HotForex year Is it a Legit Broker?

The trader can choose HFM Android and trade anywhere anytime on the go. The MP4 Android platform provides advanced charting and different types of premium trader tools, and it is an ideal choice for the trader who is on the go. The traders can view financial markets, technical analysis, market price movements, and execute orders without any problems.

1. Like other brokers, it has an HFM app that offers more than 30 technical indicators which help the users to perform technical analysis professionally, without compromising their needs.
2. The minimum deposit amount required to register an HFM live trading account ranges between $0 USD and $100 USD depending on the account type chosen.
3. In recent years, the lack of volatility in the forex market caused trading volume to wane.
4. We appreciate the regulated and secure trading environment, low minimum deposit, wide market access and user-friendly copy trading solution.
5. Another great aspect is that it doesn’t have a minimum deposit requirement making it favorable amongst newbies.

Cards require a minimum deposit of $5, e-wallets (Skrill & Neteller) require $50, Trustly has a minimum deposit amount of $100 and bank transfers have no mandatory minimum deposit amount. You can convert your Premium or Zero Spread Accounts to Islamic status and the same features and fees will apply except for the swap fees. Particularly about scalping, there is no restriction and HFM range of accounts alike with Zero spread may assist you even better to trade this strategy. MT4 and MT5 HFM terminals available in various versions that suit your personal needs and allows efficient trading through the Desktop Platform, WebTerminal which is compatible with any browser. Or by the use of MT4 MultiTerminal with access to manage multiple accounts simultaneously, however desktop version still remains the most complete with all features and add-ons available there. HFM withdrawal options including cards, bank transfer by far most used option and various ewallets.

HotForex lacked a proprietary desktop platform, which we feel is at a disadvantage compared to some competitors. As per our HFM review, it offers HF Affiliates – an affiliate program that caters to both online and offline affiliates by paying great commission for their clients referred to HFM. The forex broker provides the best and tailor-made commission structure for the products that help them to achieve the user’s revenue expectations. HFM brokers have four types of reward levels like red, gold, silver, and platinum. Users qualify for red trading rewards when they register on the program. If the user is more active, the trader accumulates more, and they can progress.

HFM does not ask unnecessary questions, the process is hassle-free, and the back-office user friendly. They are a statement of the ongoing efforts by HFM to maintain a competitive edge for its clients. A four tier loyalty program rewards active traders with cash rebates and other perks.

HFM MT4 and MT5 Comparison

To conclude, HFM 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 investment products can be tailor-made to specific requirements like offering different types of accounts, tools, platforms, and instruments. As per several HFM reviews, this online broker does not charge any deposit fees. It is always better to review the deposit fees of the platform while a few forex brokers may take advantage of charging high fees when the trader deposits money to their trading account.

Features of HFM

Leverage levels of HFM brokers are settled as per the regulatory requirements, according to the region and the finance level. This platform offers different account types where customers can choose and enjoy a tailor-made trading experience that suits their needs. We are always pleased to see brokers offering demo accounts and HotForex doesn’t disappoint.

HFM Pros and Cons

Once you’ve signed up, you’ll likely need to provide information to prove your identity, which is standard among many of these types of brokers and platforms. HFM has 4 accounts namely, Premium, Zero and Cent that have $0 USD minimum deposit fee and Pro that has $100 USD minimum deposit fee. Great Trading Experience
I have been trading with this broker for a few months. They offer various trading instruments, low spreads, high leverage, and fast execution.

We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. We found that these third-party platforms are suitable for beginner and experienced traders and hotforex broker reviews include some of the best features on the market, particularly for automated trading. However, some view MT4 and MT5 as somewhat dated, and we feel casual traders might prefer one of the sleeker, more intuitive proprietary platforms offered by some of HotForex’s competitors.

Which platforms are supported by HFM?

Some of the withdrawal methods supported by HFM brokers are credit and debit cards, bank transfers, and e-wallets. Withdrawal fees are charged zero, and the trader need not worry about any additional fees. But wire transfers will involve some fees as per the bank and other international policies. As per our HFM review, the withdrawal fees of HFM are based on the chosen withdrawal payment method by the user. Every broker has its own rules of how the funds should be withdrawn from their accounts.

Other Tools

The broker offers only a small range of markets in comparison to other leading multi-asset brokers. In addition, traders can use the VPS hosting offered, while those who make a deposit of $5,000 or more can benefit from free VPS packages. Trading with HFM will involve fees of $5 USD,  spreads of 0.1, and commissions of $3 USD depending on the account and market selected.

Is HotForex A Trustworthy Broker?

These come with benefits like negative balance protection, segregated client funds in top-tier bank accounts and a Civil Liability Insurance programme with liabilities protection up to $5,000,000. The broker is also a member of the Financial Services Compensation Scheme (FSCS), with £85,000 compensation available to all retail traders against the financial failure of the investment company. HotForex is a multi-asset online broker offering trading opportunities in forex, commodities, indices and more. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).

The account can be very beneficial for beginners as it gives them the opportunity to trade with virtual funds, with zero risks. The broker also offers a mobile version of the trading platforms, which means that you can trade Forex with HotForex from anywhere you are. HotForex enables its traders to use the most common trading platforms, which are the MetaTrader 4 and MetaTrader 5. This can be a great indicator that HotForex is a good broker because of MT4 and MT5 only partner with reliable brokers. HotForex offers very impressive customer support which proves they do pay attention to details. They offer a multi-lingual customer support team with support in over 27 languages, making sure they offer quality support to all their clients around the world.

In just a few clicks you put the Expert Advisor on the chart and make them start trading for you. So if you have $5,000 in your account and you use leverage 2 to 1, then you will be able to Buy with a maximum of $10,000. If we use leverage 100 to 1, then we will be able to Buy 100 times more from what we have in the account. Now, we will tell you more about HotForex MT 4 platform and what are the costs. We will also review the pros of using this platform, especially when you do algorithmic trading.

As some examples, BTCEUR and BTCUSD both have typical spreads of 30.0 while XRPUSD has one of 0.031. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.