HotForex scam: Honest HotForex Review Find out what real traders say about this broker!

HotForex scam
HotForex scam

They can download the platform and enjoy an array of advanced trading tools that will allow them to access their account and master the markets. The MT5 platform offered by HotForex includes Android options that can be used on a multi-asset variety of devices. The traders can take control of their accounts and explore markets, and trade with any of them.

HotForex scam

See how HotLimeFxpares to the leading Forex brokers by reading one of the reviews below. HotForex requires a minimum lot size of 0.01 for standard lots for currency pairs. The bottom line is that forced lockdowns and rising unemployment left people turning towards alternative ways to spend their time and/or to try and make an income. While some of us turned to 8 week yoga courses or Netflix binging, others decided it was a good time to start learning more about the forex market. Once you have filled in the required information, your account should be approved right away, where you will be given access to the new demo account.

Premium Account

HFM focuses on providing the best combination of trading accounts, instruments, platforms, educational tools and resources to cater to traders of all levels. Their multilingual help team is available by phone and live chat 24/5, and their Execution Desk is happy to help manage orders for those times when a client is unable to access the internet. The brokers’ users can access numerous trading instruments over commodities, forex pairs, shares, bonds, indices, and cryptocurrency CFDs. They are also offered a free demo account as well as an Islamic account. Using the HotForex trading rewards loyalty program, the users can earn Bars for each qualifying round when they trade with gold, silver, and Forex.

Customer care at HotForex includes teaching you how to invest, and the education section offers forex courses, webinars and videos designed to train new investors. Customer care at HotForex reaches you via a European phone number, live chat window and support email along with the entire education section. When you want to invest in forex, for example, you view and interact with real-time and historical charts with several useful pieces of information.

If you believe any of your trades were not executed correctly, please email confirming your live trading account number and the order numbers you are referring to, so this can be investigated. HotForex Kenya Minimum deposit is Ksh600 or $5 for deposit via cards, e-wallets and mobile payment methods like Mpesa. While bank wire transfers in Kenya require a minimum amount of Ksh11,000. One downside to trading with HotForex is that they charge account inactivity fees after 6 months, but you can avoid this if you withdraw all funds, leaving your balance at zero.

How do I find a forex scam?

  1. Qualified Fund Managers. Establish that the fund managers are qualified and experienced.
  2. Inflated Returns. Scammers often claim massive historical returns and will show numbers that way exceed market norms to lure investors in.
  3. Excessive Management Fees.

In addition, HotForex has a bespoke copy trading account, excellent customer support, and world-class educational content and market analysis. As per several HotForex reviews, this platform is committed to offering its clients the best trading conditions for easy trading. HotForex offers six types of accounts for their traders’ specific requirements.

HotForex Review – Why choose this broker?

The company does promise to offer 0% fee on all deposits, which essentially means that the broker will cover all expenses incurred while making a deposit. This review of HotForex will cover their account types, available tradable instruments, deposit/withdrawal options, trading/non-trading fees, and customer support. Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders. However, spreads on these accounts are often wider than those with higher minimum deposits.

Last time global multi-asset broker surprised them with withdrawable rewards from a legendary $2,000,000 prize pool for its 10 Year Anniversary. This time it is a new program, RevShare+, designed to bring HotForex Partners specific rewards that are even more generous than before and… Global award-winning broker HotForex is very happy to announce that from July 2021 its Traders Awards is getting bigger and the prize money has been increased to 3000 USD!

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. Have a good experience in it and also the minimum withdrawal amount is reasonable and can be achieved within days. Actually, I didn’t have many brokers in my trading career, give or take 3 or 4, I don’t remember clearly.

Who is the owner of HotForex?

Aristos Kyriakides is the Managing Director of HotForex.

I refused to give additional money so they are not going to release funds. First thing I have noticed is the high speed of execution of orders. Also, there is a possibility to copy trade or become a professional master to be copied through an advanced PAMM technology designed by HFM. HFM FIX/API is ideal for clients that want to use the FIX protocol. Vast of e-wallets, including Cryptocurrency Deposit, fasapay, WebMoney, and more. Important to consider, there is a fee charged in case you didn’t use your account and show no activity for 6 months or more.

Why Choosing HotForex Broker?

What I also like is their free webinars and market analyses straight from their in-house experts. HotForex has become a global leader that offers online trading specializing in derivatives and has the markets in the UK forex brokers and the US stocks, trading spot metals, commodities, and indices. Like many Brokers, it provides award-winning services to its clients and ensures that the client funds are limefx highly secured. The advanced trading tools offered by HotForex include MT4 and MT5, which provide a great trading experience. The technical analysis offered by the trading platform provides an array of charting tools, trading signals, market features, and trade execution. It provides an Autochartist tool that has been powered by AI pattern recognition to help traders strategically time their trades.

  • Some of them include credit and debit cards, domestic transfers, wire transfers, cryptocurrency transfers, and several more.
  • Last time global multi-asset broker surprised them with withdrawable rewards from a legendary $2,000,000 prize pool for its 10 Year Anniversary.
  • One of the major points before choosing a broker is to check their customer support staff.

Also, it provides a wide range of financial instruments and offers excellent trading opportunities through the use of technical trading tools that help the traders to leverage their profits. It has a secure crypto trading environment, easy-to-use platform, and competitive spreads, where it comes as a one-stop solution for all the user’s trading requirements. HotForex provides Forex trading software to the traders, which helps them to execute Forex trades. This platform can be termed as a multi-asset platform; it implies that it allows traders to trade stocks, stock indices, precious metals, cryptocurrencies, Forex, and CFDs. The HotForex Micro Account has lower trading costs than most other brokers’ entry-level accounts with a 5 USD minimum deposit, fast market execution and spreads starting at 1 pip on the EUR/USD. Experienced traders will be interested in HotForex’s ZERO Spread Account, with EUR/USD spreads starting at 0.0 pips and a 6 USD commission.

Forex Brokers

We will never satisfy ourselves with Brokers’ public information, however, go in-depth. Often we will also open live and demo accounts and test brokers directly. We limefx forex brokers reviews have done an extensive review of the company and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders.

HFM will process your withdrawal within a short time and is available 24/5. However and unless you trading through swap-free accounts designed to traders following Sharia rules, as these accounts restricted from any interest rates or swaps. Below you may see a comparison of the most popular instruments, the typical spread based on Standard conditions, as well for your information compare fees to another broker FP Markets. However, the difference between trading costs also defined by the margin requirements, which increase almost double in case you wish to trade with 0 spread.

In June 2022, HFM added more than 2,000 zero-commission physical stocks to its products offerings, allowing clients to diversify their portfolio and own a part of their favourite company’s shares. The withdrawal time of HotForex varies based on the payment method chosen by the trader. HotForex processes the request within 48 hours, and the time taken for wire transfers and credit cards will take 2-10 working days. HotForex holds all its accounts with major banks, and with its strength, as a broker, it helps the company to offer liquidity through some of the global banks. The MT5 platform of HotForex is designed to suit the traders of different levels and on any device, for the traders to execute the right trading strategy at any time. HotForex has over 150 tradable assets, and it can be accessed through global markets.

HotForex scam would like to remind you that the data contained in this website is not necessarily real-time nor accurate. First the client must have a trading volume of 15 times bonus size, then they increased this to 30 times. They will continue to change the rules so that you can lose more money.

The minimum deposit for bank wire transfer is KES 11,000 or US$100. The minimum deposit is $5 with cards or e-wallets (Skrill & Neteller) with a maximum deposit amount of $10,000. Although each account type has a required minimum balance, they are $5 or Ksh550 for Micro Accounts, $10 or Ksh1,100 for Premium Accounts, and $200 or Ksh22,000 for Zero Spread Accounts. This account is spread only and you do not pay any commissions when you open or close trade positions.

Which country is HotForex from?

HotForex is a forex and commodities broker. It offers various account types, trading software, and tools to facilitate individual and institutional customers' trading and derivatives transactions online. It was founded in 2010 and is based in Beachmont, St. Vincent and the Grenadines.

There are several other tools and this is another reason that the value of this broker may be known throughout the community. Given by the name of the company you are able to trade many of the Forex pairs on the market. You’ll have to decide when choosing an account what benefits you are looking for and find what fits your needs the best.

Step 3) Several payments options will be shown to you, click on the method you want to use for deposits . Here is a summary of payment methods accepted by HF Markets for deposits. Step 5) On your dashboard, you will be required to complete registration/profile by supplying some personal and economic information, including your experience level with Forex trading. To get a swap-free Islamic Account on HF Markets, first, create a Micro, Premium or Zero Spread Account then contact the HF Markets customer support team to convert your account to a swap-free status. You can convert your Micro, Premium or Zero Spread Accounts to Islamic status and the same features and fees will apply except for the swap fees.

Further, the minimum requirement depends on the account type as well. Deposits can take 10 minutes to 2 working days based on the method used by the trader, and it does not apply deposit fees. HotForex provides a proprietary HF app that lets users track their preferred tradable assets, stay updated with current market news, and perform technical analysis on the assets.

Further, traders can place market orders or limit orders, and they can view their trading activity in the demo accounts and live accounts. As per our HotForex review, HotForex offers an award-winning MT4 and MT5, the latest version as its trading software. This trading platform enables one-click trading, several tools, and provides institutional-grade technology via advanced configuration. Whether the trader is a beginner or an advanced trader the software offered by HotForex suits all types of traders. It is used by both beginner and advanced traders with an account balance of below $5000. It provides a great trading environment and makes it an attractive option for retail traders.

HotForex is a MetaTrader broker founded in 2010 and is regulated by FCA, SySEC, and other regulators. It offers 47 currency pairs, cryptocurrencies, and access to over 1,000 securities including precious metals, commodities, stocks, bonds, and stock indexes. Mobile trading is offered with MT4, MT5 mobile apps as well as proprietary HF App .

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