Hotforex is a scam!!! Your Forex Trading Forum

I opened trading account with this company half a year ago and am ready to share my impressions. Santos HotForex e-Sports, the esports division of Santos FC, has become one of the world′s biggest electronic sports clubs in just… Education is another strong point of HFM since the broker concentrates and puts efforts on Africa and Asia regions so its allows https://limefx.name/ various traders to join in. While placing an order you should manage your risks smartly while tools like Limit Order and Stop loss orders will assist you, since they are the most basic risk management toos. Stop loss will set a particular position to be automatically closed at the predetermined price, sot that you won’t lose more than you define.

We do not present any LimeFx advice or guarantees for the accuracy and reliability of the information. Bitpay by skrill is integrated with this broker and i also think that we can deposit other cyrpto assets like Ripple, ltc etc directly but btc can be added by using the bitpay. Unfortunately, I do not remember whether this broker has Paypal. HFM has a large list of payment systems through which you can deposit your account.

When it comes to HotForex, it offers two platforms: MetaTrader 4 and WebTrader.

Although this broker’s price is lower when compared to the industry average, it still lags behind low-cost rivals like IG and CMC Markets. HotForex offers a wide range of tradeable items in addition to its upgraded MT platform. On the other hand, it lags behind major multi-asset brokers in terms of total platform breadth. It is still a good choice for investors seeking a MetaTrader-only brokerage with a few extra features beyond the usual configuration.

HotForex education features include several tools to provide self-learning support for the newbies and advanced traders, which eventually improves the forex trading experience as well as results. Regardless lime fx of the trader’s experience, the education tool will direct through the right track. When it comes to trading platform available, this Hotforex is not offering MT4 or MT5 trading platform.

Brokers By Licenses

Based on its various licenses, this broker can operate world-wide. Read our in-depth HotForex review 2021, and find out everything about this broker. I tested the platform in terms of quote accuracy and experienced slight slippages even when there were rapid changes in the market. This is why I am giving them a Quote Accuracy Score of 9/10.

However, tools are divided into two parts, trading tools, and analysis tools. For example, 71.37% of the HotForex brokerinvestors tend to lose money, which is comparatively lower than the competitors. In this HotForex review, we will find out how they minimize the risk. Trading assets choices offered by this Hot Forex include Forex, cryptocurrencies, metals, indices, shares, energies, commodities and bonds. Meanwhile, HotForex provides its trading service in conjunction with the appropriate licenses required by the authorities that control the Forex business, thereby providing a trustworthy service. As of your email that you cannot access your wallet – it was sent on the 24th of May and my post above is on the 22nd.

Where HotForex located?

You can initiate a withdrawal by logging into the client area on the website. Other HFM account minimums vary by type, with most being in the $100-$250 range. ASK price can also be seen in Market Watch or by enabling the ASK line in your chart. To enable the chart to also show the ASK price you have to right-click on the chart, then click “Properties” and in the new pop-up window under the “Common” tab tick the “Show Ask line” option.

However, it depends on the account types you have, such as micro account spreads begin from 1 pip and zero account spreads start from 0.2 pips. They can deduct the profits resulting from the wrong prices. Hot Forex offers traders wire transfers, credit and debit cards as well as Skrill and Neteller as options. Wire transfers have no maximum deposit amount, while credit and debit cards are limited to $15,000 and Skrill and Neteller to $10,000. A nice feature is that Hot Forex will reimburse traders for the incoming wire fee charged by their bank on deposits above $250.

The great trading condition with flexible leverage and tight spreads. To deposit HotForex, all you have to do is choose the payment method of your choice, the method that is easily available in your region, and then complete the payment. HotForex will execute your withdrawal in a short period and is available 24 hours a day, five days a week. Read our HotForex review to see if this broker is a scam or legit. The time for a processed withdrawal to be received varies from nearly instant to as much as 10 days, depending on the withdrawal method. Please read HF Markets Reviews below and share live trading experiences with this broker.

What is HFM?

It will also gauge the status of the market by breaking down the positions of clients and analyzing the volumes traded. If you wish to stay alert on how the market is doing but you have no time to constantly check the app, then you might prefer to opt for the SMS Service to get your market alerts in your cellphone. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

• HotForex provides news and signals that are retrieved from FxStreet.
• HotForex will execute your withdrawal in a short period and is available 24 hours a day, five days a week.
• For HFM, the purpose of introducing Kate is to assist traders in staying updated with significant market trends and facilitating them in making well-informed trading choices.
• Also very poor at customer care when it comes to getting back the funds, customer care on Good during deposit time.

It holds licenses from a number of prestigious authorities, including the FCA, the FSCA, and the CySEC. HFM offers a wide range of currency pairs along with cryptocurrencies, stock indexes, precious metals, and other commodities. On 3 separate occasions I have been stopped out despite market movement going anywhere near my stop loss. If I dare exit from metatrader with open trades, this broker leaves me in red.

However, because the broker is regulated by the CySec, FCA, FSA, DFSA and FSCA, there is a high chance that it is not a scam. With that being said, it still does not mean that HotForex is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions. For my forex experience, I have been trading https://limefx.vip/ with many forex brokers from all over the world for 5 years now. I hope that my articles about forex brokers can help you succeed in this market just like me. At first I start trading via Metatrader 4 platform because I had an experience using it. That can be a nice alternative for the desktop platforms especially if you are always trade on the go.

HF Markets already has operations in the UK, South Africa, and Cyprus. The Dubai Financial Services Authority is the financial regulatory agency… The brokerage firm itself was established in 2010 with its headquarter in Cyprus, yet in addition serves several global offices including Dubai, South Africa also offshore entities in St Vincent and the Grenadines.

Mobile trading is offered with MT4, MT5 mobile apps as well as proprietary HF App . They used to have excellent customer service i don’t know why they are not replying currently on their live chat, but the account managers are extremely dedicated and can go as far as possible to fix or clarify issues. For about a solid time period I am trading here on demo, because I want to feel this broker. But, still can’t understand the need of so many accounts and trading platforms. It’s an extra work for company that doesn’t impact trading. However, according to applicable laws and regulations, the conditions vary from one entity to another, see our snapshot of HFM licenses below.

Which is allowing any size or profile trader choose between various spreads and liquidity providers via automated trading platforms and perform any strategy, including News trading. Overall, HFM is a well-established customer-oriented broker with secure, regulated trading environment suitable for almost every trader. As we mentioned earlier, the reason this HotForex review and any other review for any other forex broker is so important is that it lets you filter the scams and lousy brokers which can make you lose a lot of money. Online forex brokers are a must if you want to engage in the currency exchange as a viable career. You see, forex is short for “Foreign Exchange”, a self-explanatory name as it deals with the trade of currencies from around the world. In said market, you exchange between currency pairs, buying Euros with USD or selling those USD for Yuan, any combination you want.

In order to know what the ASK is, you need to add the spread to the prices in the charts. We are glad to hear you are enjoying our services and we have been able to resolve the matter. The articles on this website are only the personal opinion of the author. The author does not encourage readers to follow and do not assume any responsibility for the content on the website. This calculator allows for the calculation of the lot size through the specification of the percentage of your balance you’re prepared to risk as well as opening and stop loss and currency pair.

Maybe some basic web-based or mobile app platform, we have no idea. Since this broker is an unregulated one, then what kind of tarding platform it uses does not matter that much. The Mini account may appeal to new traders due to its $50 minimum deposit, it appears rather pointless as the next account, the Premium account, comes with a minimum deposit of $100. Although the requirement for a Mini account is quite low, given the fac that this Hot forex is an unregulated one, traders are not advised to open accounts here. TradingBeasts helps individual traders learn how to trade forex, cryptocurrencies and other assets as CFDs.