PrimeFin, Oinvest, TradedWell and IGM FX are some brokers that are reliable. Like other brokers, HotForex has not mentioned anything about gold, silver and platinum accounts on its official website. HFM offers various client accounts to cater to the diverse needs of traders.
HFM customer support
Yes, HFM have NAS100 indices as a CFD instrument on their platform for traders in South Africa. The typical spread for trading NASDAQ CFD on HFM is 2.03 with all account types. HFM also offers ZAR Trading accounts, and very low spread for trading with Zero account. They have online bank trasfer option available for funding & withdrawals in SA.
- HotForex provides a 24/5 customer support service that will help you with any inquiries and concerns you might have.
- These include Forex, Metals, Energies, Indices, CFD Stocks, Commodities, Cryptocurrency, Bonds, and ETFs.
- They offer MetaTrader4 (MT4)and Meta Trader5 (MT5) trading terminals which are as good a platform as any other (maybe the best).
- They also take care of client funds, by offering a secure trading environment, and a high level of client fund protection.
- They offer the best trading platforms available and a wide range of tradeable assets and financial instruments.
- If you have any issues logging in, you can contact HotForex customer support for assistance.
Overall, HFM is a suitable choice for global traders, forex and cryptocurrency traders, and those seeking advanced features and comprehensive educational resources. They speak many different languages and you have the option to speak with a local customer support agent. They also provide a few different contact options You can reach them via email, phone, webchat, and the dedicated website form. If you like social media, you can try reaching out to them on Facebook, Twitter, Instagram, LinkedIn, Telegram and YouTube. The HotForex minimum deposit depends on which trading account you choose to open. If you are looking for low minimum deposits, then you can try opening a Micro account, which has a $5 deposit.
What account currencies does HotForex offer?
Established in 2010, HotForex has a strong reputation for competitive trading conditions, robust customer support, and industry awards. To make an ideal decision, traders need information that’s exact, true, consistent, insightful, and accessible. At Forex Forum you can explore meaning-full, reliable and actionable discussions followed by the professional trader’s advice. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.
Trading Instruments
Transactions are processed and protected by Level 1 PCI-DSS Certified Independent International Payment Gateways. Here you will need to choose between Individual, corporate, or joint accounts. Then you will need to fill in the criteria, which will include (for individuals) country of residence, phone number, name, birthdate, Email, and password. Note that this may differ pertaining to your region but will most likely be the same. To open an account with HFM, you will need to head to their website and then click on the “open live account” button which is located in the main menu. Remember that trading always involves risks, and it’s crucial to understand the asset class you’re trading and its potential risks.
The demo trading account offered by the broker is viable for limited days. It is the first and foremost point to be considered before opting for a brokerage firm. Talking about HotForex security and regulation, we cannot say anything. Some of its branches are well-regulated by central regulatory authorities while rest are authorised and licenced under some random local authorities. It leads to a mixed opinion and raises a question on the authenticity of the firm.
What Is The Difference Between HotForex and HF Markets (HFM)?
- We analyze key tools and features important to forex and CFD traders and collect data on commissions, spreads, and fees across the industry to help you find the best broker for your needs.
- With features like high leverage, swap-free accounts, and zero spreads on specific accounts, HotForex caters to traders of all levels.
- HF Markets customer support is available in s more than 27 languages.
- There’s a minimum deposit amount of $5 for most methods too, aside from Bitcoin which has a minimum deposit amount of $10.
- They are regulated in South Africa, 3 other Tier-1 & Tier-2 regulations, so the security of your funds is backed by these top-tier regulators.
As for the maximum number of parallel trades, you’re able to run 500 different trades simultaneously, and each one can be 60 lots in size. As you can see from this HotForex Forex broker review, these platforms are quite sophisticated in their offerings. MetaTrader 4 is arguably the most popular software for trading Forex, yet HotForex also allows you to trade all other instruments available on its platform. Moving on, let’s take a closer look at which non-trading fees and commissions you’re obliged to pay at HotForex and if there is a way to avoid them. One of the biggest advantages of HotForex is that the broker doesn’t impose any transaction commissions to its clients. What this means is that the amount of money you deposit or withdraw on/from your account will be exactly the same you’ll get.
Customer support
The range of account types, from beginner-friendly Cent Accounts to high-leverage Pro Accounts, allows traders to choose an option that best suits their goals. The MetaTrader 4 Web Terminal provides traders with a convenient way to access their trading accounts directly from their web browsers, without downloading or installing any software. The Premium account is for retail traders who are looking for swap-free trading with lower spreads and no commissions. You can open a premium account on all trading platforms available, the HFM Platform, MetaTrader 4, and MetaTrader 5. Our in-depth Hotforex broker review found that various payment methods are processed in slightly different timeframes on HFM forex.
All platforms support fast execution speeds, ensuring that traders can capitalise on market opportunities without delay. HFM provides traders with access to some of the most advanced and user-friendly trading platforms available in the industry. These platforms are tailored to meet the needs of beginners and experienced traders alike, ensuring a seamless trading experience. Test different trading strategies risk-free while trading on platforms like MT4, MT5, and WebTrader. With a virtual balance of up to $100,000, the demo account provides the perfect environment to sharpen your skills and prepare for live trading. Customer Support is one of the key services a decent broker has to provide.
The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. The Hot Forex customer support staff are available on a 24/5 basis, and are contactable via phone, email, live chat, and Skype. In addition, there is also a well-resourced FAQ section of the website which address the main issues might encounter. There are also a number of education and learning materials available, including charting tools, signals alerts, daily commentary, tutorials, and webinars. The benefit of being a global broker is that Hot Forex delivers customer support in a multi-lingual setting.
The spread available depends on your account type and chosen trading instrument. For example, if you have a HotForex Zero Spread account then you hotforex broker reviews can expect forex spreads on major markets from 0 pips. However, if you have a HotForex premium account, then you can get forex spreads on major pairs from 0.1 pips. HotForex offers an extensive range of over 150 tradeable assets to their clients.
These competitions motivate traders to perform their best and foster a sense of community among HFM clients. The broker ensures that traders can focus on their trading activities without constantly worrying about the security of their funds. This is achieved through a variety of measures designed to provide optimal financial safety. On the other hand, the MT5 is adapted to fit the needs of HF Markets’ clients. Trading Contracts for Difference (CFDs) on stocks enables clients to speculate on the price movements of individual company shares without owning the actual stock. HFM provides access to a wide range of popular stocks from major global markets, allowing clients to benefit from price fluctuations while utilizing leverage.
HFM charges an inactivity fee on all accounts that have remained dormant for more than six months. Should your account remain unused for between six months and one year, a $5 fee is charged. This increases to $10, $20, and the previous year’s fee + $10 per month for inactivity periods of 1-2 years, 2-3 years, and over 3 years respectively. After your accounts are open, you’ll find that you can easily manage them as wallets from your client area.
