HFM Review (ex hotforex)

HFM, a Forex and commodities broker for both retail and institutional traders, is a brand name of HF Markets Group licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) in Europe and Financial Services Commission (FSC) in the Republic of Mauritius.

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“HF Markets” Trading Conditions and Account Types

Apart from the demo account, Hotforex offers 9 types of accounts with competitive trading conditions.
Micro Account; This account is suitable for newbie traders and those with only a small initial deposit. It allows traders to test live trading conditions with limited capital. Trading is done on the Metatrader 4 platform.

Hotforex Micro Account

Premium Account; This is the most flexible account suitable for the experienced retail traders with up to 60 lots as the maximum position size. Trading can be done on Metatrader 4, Webtrader and mobile trading platforms.

Hotforex Premium Account

Fixed Account;Some traders prefer working with fixed spreads so as to know their trading cost in advance and factor that into their trading strategies whether manual or using Expert Advisors. This account on Hotforex allows traders to experience fixed spread trading. Trading is available on MT4, Webtrader and mobile platform.

Hotforex Fixed Account

Zero Account; With just a minimum of $100, traders can open an account using interbank spreads on Hotforex. This account is ideal for scalpers and traders looking for the lowest cost of trading. This account is commission based with commissions startingas low as $0.04 per 1K lot. Trading is available on MT4, Webtrader and mobile platform.

Hotforex Zero Account

Currenex Account; this account is also designed for the experienced retail traders combining low spreads suitable for scalping and a competitive commission structure. Trading is available on MT4, Webtrader and mobile platform.

Hotforex Currenex Account

VIP Account; This account opens up personal consultations with senior Hotforex currency analyst, Forex updates via SMS, a personal account manager among other perks. Spreads on this account start at 0.2 pips and a minimum deposit of $20000 is required.

Hotforex VIP Account

Auto Account; this is built for traders who want to utilize the signal service offered MQL5 Community directly from their Metatrader  4 platform.

Hotforex Auto Account

HF Social Account;this account is also designed for copy trading on FxStat platform. Traders can connect with other traders and copy their winning strategies.

Hotforex HF Social Account

Hotforex PAMM Accounts

PAMM Account; Traders who want to become money managers via the PAMM system at Hotforex can choose from either the Premium account or the Currenex Account.
Hotforex allows successful traders make more from their strategies by managing more funds. On the other hand, investors are able to find accountable money managers for their funds under a transparent model. More than 100 PAMM accounts on Hotforex show positive gains with the top showing more than 1000% in return.

Hotforex PAMM Accounts

Hotforex Trading Platforms

Hotforex has MT4 terminal for desktop, MT4 multi-terminal and MT4 webtrader. It also has MT4 mobile trading platforms for Android, iOS and Windows.

Hotforex avails a direct market access trading platform powered by Integral. The platform, RapidTrader, allows the use of FIX protocol to access the market. Hotforex RapidTrader is suitable for automated trading system outside of MT4, hedge funds, brokers, and other money managers. A minimum deposit of $50,000 is required to access this platform.

Hotforex Deposits and Withdrawals

Depositing to your Hotforex account attracts no charges and can be done 24/5 during normal trading hours. Deposits via bank wire transfer take 2-7 working days with a minimum deposit limit of $100 and no maximum. Credit cards take up to 10 minutes with a minimum deposit of $5 and a maximum deposit of $10,000.

Online deposit methods include; Skrill, Web Money, Neteller, Union Pay, and Fasa Pay. Depositing via these online payment processors is instant with a $5 minimum deposit.

Withdrawals are processed to the same deposit methods and on the same business day.

HotForex  Support and Customer Service

• Telephone Number; 44-2033185978
• Fax Number; 44-2033188569
• Email Address; support@hotforex.com

Hotforex offers a live chat 24/5 in different languages including: English, Arabic, Bangla, Chinese, Czech, Farsi, French, German, Greek, Hindi, Japanese, Korean, Lithuanian, Portuguese, Punjabi, Slovak, Spanish and Urdu

Bonuses and Contests;

Traders Awards;This is an award to Hotforex traders who achieve the highest gains every month. The top trader every month gets a Crystal obelisk, $1000 dollars and is listed on Hotforex wall of fame.

Demo Contest;Hotforex holds a monthly demo contest where the top gainers receive real funds to trade. The 1^st prize is $2000, 2^nd prize is $1000 and the 3^rd prize is $500.
Hotforex Merchandize; The most loyal customers of Hotforex are awarded Hotforex branded products.

Hotforex Merchandize

Hotforex bonus programs

Hotforex offers 3 bonus programs;

100% Super charged bonus:

30% Rescue Bonus:

100% Credit Bonus:

Hotforex Awards

Hotforex has been providing top trading services leading to recognition and several awards since their launch in 2010.Despite the short period they have been in the industry, they have received 18 awards. Below are three of the awards given to Hotforex;

Hotforex Industry Awards

HF Markets Group

HFM and HF Markets are unified brand names of the HF Markets Group:

• HF Markets (SV) Ltd incorporated in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
• HF Markets (Europe) Ltd a Cypriot Investment Firm (CIF) under number HE 277582. Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 183/12.
• HF Markets (DIFC) Ltd is authorised and regulated by the Dubai Financial Services Authority (DFSA) under license number F004885.
• HF Markets (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.
• HF Markets SA (PTY) Ltd is an authorised Financial Service Provider from the Financial Sector Conduct Authority (FSCA) in South Africa, with authorisation number 46632.
• HF Markets (Seychelles) Ltd is regulated by the Seychelles Financial Services Authority (FSA) with Securities Dealer’s License number SD015.
• HFM Investments Ltd is authorized by the Capital Markets Authority in the Republic of Kenya as a non-dealing online foreign exchange broker with licence no. 155.

HF Markets Education

Hotforex offers extensive trading education to its traders. It features webinars from its top currency trading experts to improve traders’ knowledge and skills on profiting from the market. It also has numerous video tutorials and ebooks on various markets as well as daily market analysis.

Hotforex Educational Material

HF Markets Pros and Cons

Pros

• Hotforex allows small accounts as low as $5
• Excellent and multi-language customer support
• High leverage option
• Bonuses are available
• Multiple trading platforms
• Low spread accounts
• Allows automated trading on Metatrader 4 as well as via API
• Offer a wide variety of trading instruments
• Strong regulation
• Offers trader education

Cons

• Other than not accepting US clients, it is had to find fault in Hotforex.

Conclusion

HF Marketsis a reputable Forex and commodities broker as evidenced by them bagging 18 awards in a period of only 6 years. They have lived up to their name Hotforex where the HOT stands for Honesty, Openness and Transparency.

Now, everything seems OK with HF Markets broker however “ProfitF team” will keep monitoring this broker and update this review if any changes take place.