HotForex review: Is HF Markets a legit or scam forex broker?

Mobile trading is offered with MT4, MT5 mobile apps as well as proprietary HF App . I chose a Zero Spread account for this purpose because it offers the best spreads. This time was enough for me to make sure that I’m dealing with a trustworthy company. I don’t want any unpleasant surprises such as the impossibility to withdraw money when I mostly need and I don’t face it here. Trading is convenient however i found out that you need to learn it first before you start making money with trading.

The reward program is available again and offers new and existing clients the opportunity to earn generous returns up to 3% on their free margin! How it Works To participate, HotForex clients can join the ROFM program and start receiving… So in our financial review though either you wish to join copy traders or to use EAs, perform scalping or become a partner etc. there is an option for all. As well, HFM pricing isone of the lowest rates in the industry.

• No matter how smart you are the company will start taking from you.
• Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times.
• Tools can notify you of the latest news developments so that you become aware of the currency pair movements.
• Which got me very confused and very worried because the money that I sent for tax yestarday I borrowed from someone whom I promised I would pay back the following day which is today.

We have separately reviewed the available trading platforms at HotForex in Malaysia. The first step is to enter the basic details like phone number, name, date of birth, country of residence, and email address. After entering these basic details, an activation link will be sent to your provided email. This link can be followed to open any of the account types at HF Markets. This link will redirect you to the MyHF area where a demo account can be opened without providing bank details and submitting documents. The spreads with commission-free account types at HF Markets start from 1 pip while the same with commission-based account types start from 0 pip.

73.57% of retail investor accounts lose money when trading CFDs with HF Markets Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. TradingBeasts helps individual traders learn how to trade forex, cryptocurrencies and other assets as CFDs. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey.

I however trade through the MT4 which can store plus execute tp/sl. My personal experience with this broker as of now is one year. Trading for a year and withdrew more than 10k$ to my Skrill account. When you make your first deposit and began trading, no matter how weak your strategies are you’ll make profit. No matter how smart you are the company will start taking from you.

Is HotForex Legit?

All information on 55brokers.com is only published for general information purposes. We do not present any LimeFx advice or guarantees for the accuracy and reliability of the information. Tight spreads on major pairs, crypto enabled and can use both mt4 and https://limefx.biz/ mt5. 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. In my opinion, there are no more versatile and convenient platforms than MetaTrader4 and MetaTrader5.

Apart from regulations, awards are also another measure to check the safety of a broker, and HotForex received more than 45 industry awards. Additionally, they have some offshore registered zones worldwide, which makes HotForex more trustworthy. 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. Its clients have access to desktops, browsers, and smartphones, and this means that they are always aware of current situations.

Some brokers will charge overnight holding amounts and inactivity charges which can reduce your LimeFx. 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. 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.

IS HOTFOREX A SCAM BROKER? SHOULD I TRY IT OUT?

Only a few days after receiving a new FCA license and a few weeks after opening its Dubai office HotForex is rebranding. Retail online forex broker has announced it will rebrand its European entity as HF Markets by the end of January, 2019. The group of companies in the HF Markets Group have been using… MT4 and MT5 HFM terminals available in various versions that suit your personal needs and allows efficient trading through the Desktop Platform, WebTerminal which is compatible with any browser.

These platforms can be downloaded on Windows and macOS devices and accessed through one-step login. Overall, the fees incurred at HF Markets are lower than some of the regulated brokers but also higher than several others. The spreads are competitive while the commission and swap fees are decent when compared with other brokers.

Additionally, support via the contact form and email is also available. MT4 and MT5 platforms are usable via desktop computer, mobile, and web browser. But, nowadays, access via web browser and mobile apps are more popular than the PC. So, each platform offers altogether 10 ways to access and trade.

Is HF Markets Legit?

In its ten years of successful running, the Traders Awards contest has gathered numerous experienced and talented traders all over the world and continues to appeal… HFM provides an award-winning MT4 Platform and its newer version MetaTrader 5 as its trading software. For the funds protection, which is an important part of the regulated broker, HF Markets Ltd. is a member of the Cyprus Investor Compensation Fund. It constitutes a claim of the covered clients against LimeFx firms.

Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to use tool smartly. In simple terms it means the broker is regulated and authorized to offer its trading service along with necessary safety measures and controls applied. Yet, we found not very wide range of trading instruments for European clients, it might be the case of regulations, but yet is good to check other industry proposals too. Besides DMA access to Futures or Indices trading is not available too.

The tools are selected to suit a wide range of requirements, from scalpers to long-term traders. Yes, its official website looks very professional and trustworthy. But if you search other users’ reviews and investigate its regulatory license, you will find the horrible truth. This Hot Forex is registered in Mauritius, with its corporation information not disclosed to all.

HF Markets, known by its trading name HotForex, has got its license from the Dubai Financial Services Authority and has now announced about the operations in the United Arab Emirates . HF Markets already has operations in the UK, South Africa, and Cyprus. The Dubai Financial Services Authority is the financial regulatory agency… Education is another strong point of HFM since the broker concentrates and puts efforts on Africa and Asia regions so its allows 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.

Global broker HotForex has confirmed that its HFM LimeFxs Limited subsidiary got licensed by the Capital Markets Authority of Kenya, under license number 155. This prestigious license will strengthen broker’s international offer and will guarantee the highest level of security to even more clients around the world. Established in 2010, this multi-asset international broker has become a choice to… Cyprus-based multi-asset broker HotForex has announced that its exclusive reward program ROFM is back!

If a company gets a scam finding, it’s because they earned it, not because I or anyone else « put them on scam ». In order to start trading with HotForex, you have to deposit at least 5 USD. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up.

Hotforex is a scam!!!

The time for a processed withdrawal to be received varies from nearly instant to as much as 10 days, depending on the withdrawal method. On 3 separate occasions scammed by limefx 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.

They do not have a dealing desk and cannot take another side of the clients’ trading position. No broker can manipulate the prices of forex and CFD instruments. The customer support service is excellent as clients can reach out to support executives through multiple methods. To test the diligence of executives and the quality of support for Malaysian clients, we raised multiple queries through different methods. MT4 and MT5 are the available choices for desktop trading platforms.

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 source of this information is the website and the broker’s trading platform listed in the Web section of this review.

Above all, this broker company is considered the best of the best, and it is determined to make sure that its clients are satisfied and more aware of forex and cryptocurrencies. In addition to its main license from CySEC, the broker holds other licenses to be able to serve clients from some specific jurisdictions including South Africa, Dubai, England and more. By entering the high and low, traders will be able to calculate the four basic support and resistance retractment values in various percentages, at 61.8%, 50%, 38.2%, and 23.8%.