This account is spread only and you do not pay any commissions when you open or close trade positions. Spreads start from 1 pip and you pay swap fees whenever you keep a trade position https://forexbroker-listing.com/ open past the market’s closing time. The broker also offers a mobile version of the trading platforms, which means that you can trade Forex with HotForex from anywhere you are.
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HFM (HF Markets) fees
This HotForex review will cover all the broker’s most important features, with information on how to open an account and login to the client area, trading fees, payment methods, and more. Our HotForex review team found that the trading fees and commissions at this broker are highly competitive, and the hotforex broker non-trading fees are low. Whilst the fees do change depending on your account type, they are all fair, and spreads start from 0 pips. You will not be charged for deposits or withdrawals either, making HotForex the perfect choice if you’re looking to maximize your outcomes with higher trading volumes.
HotForex Exclusive Analysis
For example, if you are to trade DJI (Dow Jones Industrial Average), which is a basket of 30 major stocks in the US, the symbol for that is USA30 at HFM. After you have submitted your documents, HFM will normally verify your account in business hours and revert to you on your email with account verified message. In case you don’t receive confirmation within this time, you should contact their support for an update.
HFM Trading Platform Comparison
- HFM’s primary income sources are spreads on all the accounts and trading volume commissions of $6/lot round turn on the Zero account.
- HotForex provides a bunch of educational videos podcasts of market experts discussing key trading tools and topics.
- The account also comes with an Islamic swap-free option, accommodating a range of trading preferences and needs.
- The company was founded in 2010 by a team of financial professionals and is headquartered in Larnaca, Cyprus.
- Hence it cannot use the Client funds to pay back the creditors, in case of an unlikely event of default of the company.
HotForex offers a range of customer contact options, available 24/5 in 27 languages. There is also a contact form on the website that can be filled out for the broker to get back to you and a Telegram group. Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website.
HotForex Broker – The complete review of this broker
HotForex is headquartered in Cyprus, but the company has a global presence and is regulated in multiple jurisdictions, including the UK. The broker operates in over 180 countries and has offices in Europe, Asia, Africa, and the Middle East. People follow distinct approaches after being scammed by HotForex. Some prefer to raise their issue with the brokers, while others prefer notifying their banks. However, well-informed investors usually report it to regulatory agencies like FCA, DFSA, etc.
You can choose to trade both silver and gold, with Euro and US dollar options. One key advantage of utilizing HotForex to trade in this market is the absence of foreign exchange exposure. Metals at HotForex have low spreads and zero trading commissions, making the trading experience particularly lucrative. One of the biggest advantages of trading with HotForex is that there are no fees from the broker on deposits or withdrawals, no matter which payment method you use. If your transaction is over $100, HotForex will also cover any commissions or fees your bank or payment provider charges. HFM is one of the few forex brokers that have local bank transfer option for funding & withdrawals.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. HotForex charges low commissions to clients who open Zero Spread or PAMM accounts.
So, this makes them a market-making broker and the clients are the counterparties to every trade. This HotForex review greatly appreciates the vast range of educational materials and extra trading tools available, as they are plentiful. Card paymentsThere is credit card support for Maestro, MasterCard, Visa, Visa Electron, and Union Pay.
It is a popular broker, with more than 2.5 million live accounts registered. Your trades, deposits, profits, losses, and withdrawals on the platform are measured in your base account currency. You have negative balance protection with this account, which means you cannot lose more than the amount of money in your trading account. If a trade position is unsuccessful and you have a loss, any negative balance on your account will be reset to zero. HotForex provides a bunch of educational videos podcasts of market experts discussing key trading tools and topics. Besides that, there is a library of educational books for different topics that a trader can read from.
