As you probably know, different pairs or other instruments have different lot value. For example, 1 lot of EUR/USD is worth $10 while 1 lot of GBP/JPY is worth 9.33. For having the above package you need to deposit at least$200, so you can’t have them with minimum deposit, $5. You want to know how much of your account you risk or maybe you need to close a percentage of your profit and breakeven your trade. By trade terminal, you have access to a professional toolbox that can do all those things plus other jobs for you. Although I use MT4 for trading, there are traders who useother terminals and are used to them so maybe HF is lacking in this category.
The benefit of Trading with a Regulated Forex Broker?
THe HFM demo account can be used to test your Forex strategies and HFM platforms for an unlimited usage of time. Yes, HFM offers several bonuses and promotional offers to its traders outside the EU, the UK and Australia. HFM enables deposits and withdrawals through several methods including wire transfer, credit/debit cards (Visa and Mastercard), ewallets (Neteller and Skrill), and crypto.
- An STP (Straight Through Processing) broker will pass a client execution order directly to its liquidity provider.
- Now let us look at three live account types, Micro, Premium and Zero for a benchmark currency pair of EUR/USD.
- 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.
- He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
Non-trading fees
Upon opening the HFM demo account you can start with a virtual balance of up to $100,000 while also installing and trying EAs as we have explained in our HFM demo account guide. For more information about this topic, you can have a look at our HFM minimum deposit article. HFM reviews always encourage to trade the ETF for transparency and tax efficiency. The MT5 platform will always give trading flexibility on ETF trading.
Commodities
Please note that EEA traders must trade with the less competitive Cyprus subsidiary as HFM does not accept them via its international brokerages. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based account. Here is a screenshot of HFM quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. If you do need to get in contact with the support team, you will find them readily available in English through live chat, email, or phone.
Is HFM a regulated broker?
The server is also compatible with expert advisors (EAs), which will appeal to traders who take advantage of MT4 and MT5’s powerful automated trading tools. Note that professional clients are not covered by negative balance protection or any similar measures enjoyed by retail traders. HotForex provides opportunities for traders of different abilities to invest in multiple CFD and spot assets on the established MT4 and MT5 platforms.
Is HFM (HotForex) Regulated in Europe?
Other educational materials are webinars, how-to videos, and tutorial videos, which are very useful for new traders to get some theoretical knowledge before practicing real trading. HotForex reviews are accompanied https://forexbroker-listing.com/ by the successful sponsorship of the French football club, Paris Saint-German. This makes HotForex a highly reliable broker because a top-tier football team would only partner with legit brokers.
If you’re looking for more indicators, HotForex also provides Autochartist tools to all traders, free of charge. Autochartist is a well-respected program that usually costs upwards of $30 per month. This intuitive feature scans all the instruments in your Market Watch section and alerts you immediately when a pattern emerges. You can also benefit from the Autochartist Risk Calculator, which shows you the correct trading volume for your risk appetite. If you prefer trading on the go, the good news is that both the MT4 and MT5 trading platforms are available as native mobile apps.
This comprehensive approach allows us to recommend the best brokers for different experience levels, trading styles and budgets. Investing.co.uk has been helping British traders find the right broker for over 20 years. HotForex is not a market marker broker as live price quotes are provided by liquidity providers. We were less impressed by the floating spreads, and if you open an account with these you should check to ensure you are not paying above the market rates. HotForex was established in 2010 by founder and owner George Koumandaris. The group operates six global entities with relevant regulations including the Financial Conduct Authority (FCA).
We’d be happy to recommend this broker to traders of all levels, yet we found that intermediate and experienced traders will find it particularly appealing. This is thanks to the advanced platforms and features it supports. Sign up with HotForex today to benefit from a trusted broker that offers many advantages over its hotforex broker competitors. In reviewing HotForex, our experts found that a well-regulated broker suitable for those who want to trade via the MetaTrader platforms. Whilst the broker offers a limited number of instruments, the diverse range of asset classes still gives you plenty of opportunities to diversify your trading activities.
During this HotForex review, we attended several and found them to be very useful. You can ask expert presenters questions, and you’ll receive the answers you need immediately. Educational eBooks and guides are offered within the Forex Education e-Course. This is a fully online course, which is free for all HotForex clients, designed to teach you the fundamentals of trading.
It is highly recommended and is a tested broker for both first timers and experienced traders. Very popular over all in South East Asia, many of my trading buddies do trade with Hotforex due to ease of access and stability. No slippage experienced so far which is always a good sign, I’ve made a couple of withdrawal so far with no hick ups. To sum up, HFM offers an end-to-end solution from on-boarding, to execution and settlement of payments. Anybody who wants to signup with HFM for trading forex & CFDs should consider it a safe & low risk broker. HFM has bonus available for South African traders including 30% rescue Bonus with $50 deposits, credit bonus with $100 deposit and a Super charged bonus with $250 deposit.
If you are new to trading, you’ll appreciate how easy these videos are to understand. HotForex does, however, charge an inactivity fee on all accounts that remain dormant for more than six months. If your account is unused for between six months and one year, a $5 fee is charged.
