Contents:
The parent company of HotForex, HF Markets Group, has five industry regulations. The articles on this website are only the personal opinion of the author. The author does not encourage readers to follow and do not assume any responsibility for the content on the website. This calculator allows for the calculation of the lot size through the specification of the percentage of your balance you’re prepared to risk as well as opening and stop loss and currency pair. Help our agents identify you so they can offer more personalized support. Overall, HotForex is one of the best brokers on the scene today and are definitely a great option if you are looking for a new broker.
You’ll have to decide when choosing an account what benefits you are looking for and find what fits your needs the best. All of the popular Forex pairs are available and this give you the ability to trade what you see fit. While we’ve stated here are eight accounts to select from, let us go over two of them, which include the premium and the VIP. However, beyond that there is nothing left to view and for many it would be reassuring to see more. You can view legal documentation, which may bring you piece of mind, but to test the true reliability of a platform or broker, you should demo the platform and see how it performs.
HotForex also offers derivatives trading on the stocks of the world’s most important companies. To deposit money into your HotForex account using Mpesa, you’ll first need to log into your account at my.hotLimeFx and then proceed to follow the instructions provided by the broker. The minimum deposit using Mpesa is Kes 1,000 ($10) and it takes less than 10 minutes for the money to be reflected in your trading account.
👉 What is the difference between a trading account and a myHF account?
For their Zero account in which there are no spreads, commission is charged at a tiered rate. Generally, for trades sized up to 1,000 there will be $0.08 charged per round turn, $0.80 charged per round turn for a trade size of up to 10,000 and $8 per round turn for trades sized up to 100,000. There are many different features and tools available to you as part of this platform which helps to enhance the ability of the trader. The options available to you are the Micro, Premium, Zero, VIP, Auto, HFcopy , PMAA, and Premium Pro accounts. Each of them has their own strengths and weaknesses, so you need to ensure that in opening an account, you choose an option that best suits your specific needs. The MOMENT you opened the order box you captured the spread at that moment.
However, it should be noted that this market-maker doesn’t currently operate in the US and Canada. Overall, this broker’s long track record and regulatory mandate should help instill confidence in prospective customers.
Besides that, traders can use the demo trading account, which is a great tool used by beginners, as well as experienced traders. You earn bars whenever you level up and you can exchange your bars for trading services or cash. HotForex rewards you with 100 bars just for funding your trading account for the first time. HotForex MT4 Android– This platform brings limefx forex brokers reviews advanced trading and charting tools together, enabling you to gain access to financial markets and purchase trades from any part of the world. As the name does well at explaining, HotForex is a platform geared towards the trading of Forex. They are an award-winning Forex and commodities broker that gears towards both the retail and institutional client.
Segregated client accounts and negative balance protection are standard with UK-based accounts. At the same time, those in other jurisdictions may want to check the specific measures required by their local regulatory body. But if you search other users’ reviews and investigate its regulatory license, you will find the horrible truth. In addition to that, HotForex incorporates the use of MT4 and MT5 that are compatible with any mobile device using Android and iOS, making it easier for clients to trade on the go.
- This collection makes it one of the most thoroughly regulated brokers in business.
- HotForex offers clients multiple deposit and withdrawal options, including Bank transfers, Credit and Debit Cards.
- Overall, trading with HotForexwill involve fees from $5 USD, spreads from 0.1, and commissions from $3 USD depending on the account and market selected.
- We insist on trading with forex brokers that accept Mpesa as the ease of depositing and withdrawing money into your forex account plays a major role on your journey to becoming a successful forex trader.
And needless to say, although Mpesa is not the only possible way to fund your forex trading account, it does make life for most Kenyans easier. Next up in our HotForex review, we shall evaluate the platforms provided by HotForex for traders to make the most out of their LimeFxs and the company’s services. When we talk about platforms, it’s important to understand that we are talking about the “engine” that powers the broker’s functionality. Each platform is different and offers their own way of handling trades, data display, charts and graphs, and even the user interface shown to customers. Only because of hotforex mistake, i missed a good entry for a new trade due to delay in crediting the fund in my wallet.
With 8 years of experience operating in this industry, this can give potential clients confidence that the company knows what it’s doing. For my forex experience, I have been trading with many forex brokers from all over the world for 5 years now. I hope that my articles about forex brokers can help you succeed in this market just like me. Trading cryptocurrencies is not supervised by any EU regulatory framework. It shall not be intended as operational advice for LimeFxs, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances.
The UK-based FCA is the top-tier regulator that oversees HotForex’s operations, and as such, the company is required to comply with several legal requirements that ensure investor safety. If you are looking for a reputable forex broker in Kenya, HotForex is the way to go. Affiliates are provided with special links, and they offer the tools for the affiliates to track the volume of the subscriptions coming from this link.
Best forex strategy
There are clear instructions on how to install and uninstall the Metatrader for different operating systems, which is great for beginner traders. Most of the accounts trade using 4 currencies, which are USD, EUR, JPY, and NGN. On the other hand, Auto Account deals with EUR and USD only, while the HF Copy Account deals only with USD.
They come with very generous leverage and floating spreads that differ between commodities. The minimum deposit amount depends on the type of account you create at HotForex. It is $5 for Micro accounts, $100 for Premium accounts, $200 for Zero Spread accounts, $200 for Auto accounts, and $250 for PAMM accounts. The methods of depositing funds include wire, bank card, and cryptocurrencies such as Bitcoin. Timing varies for each as a wire can take as little as 2 days, while a bankcard may take only 10 minutes.
We are BRKV, or Brokerreview.net, a forex review website from Bangkok, Thailand. We are currently working with many well-known experts in forex trading such as Mr. Fanara Filippo or Mr. Mario Draghi. We aim to offer readers a trusted, useful, and professional source of education about the best forex brokers in this market as well as other forex-related topics. HotForex offers a superior copy trading platform that allows even beginner forex traders to invest in the forex market with some level of confidence. Basically, you give them the money you wish to invest, tell them what to do, and they will follow your orders and give you any profits made from them.
Hotforex closed my account without you paying
For example, you can compare the accounts, you can choose to compare up to 4 accounts, and scroll down to see a listed comparison, which can help greatly to make your decision. HotForex provides all the tools and services needed for clients of any level to realise their https://limefx.biz/ trading ambitions. Withdraws work in a similar manner and can offer you various turnaround times as well. Note that if you deposit via bankcard, you will only be able to withdraw what you’ve deposited and if your balance is greater, the difference will be sent via wire.
In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector. The broker is extensively regulated and compliant around the world with some of the most stringent financial bodies in the sector. This collection makes it one of the most thoroughly regulated brokers in business. Having these things ready should help save you time of the verification process so you can start trading as soon as possible.
There are more than 50 different currency pairs available and they currently have 53 different shares available as part of their offering. Leverage is going to change depending on the type of account and the type of instrument you are looking to trade. I’ve not noticed such differences in spread as you’ve shown with my regular brokers but you should definitely contact them and ask why. They could all be different brokers if you use several, so there’s no need to download a ‘bespoke’ MT4 from each broker. WikiFX Internet and its mobile products are an enterprise information searching tool for global users.
Trading Platforms
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. Beginners in forex can open the HFCopy account, choose a strategy provider , allocate some amount of their capital to the SP, who will start trading on their behalf. Traders can use the WebTrader of MetaTrader 4 and 5 which does not require installation, and traders can directly login and start trading via browser. It is not common for Forex brokers to offer such access, but hot Forex engages its clients in direct market access. Besides that, HotForex regulations in different financial markets are marked by recognized licenses such as FCA, DFSA, FSCA, and FSA.
They have everything from live webinars to market analysis, general training videos and step by step courses. The minimum required deposit for a bank wire transfer is $250, with the minimum required deposit for all other options being set at $50. Regulation is something which is always of key importance in the forex trading industry and this is something which HF Markets recognizes and provides for in abundance.
Hotforex is now became a well established broker operating for more than a decade now. I have been trading for the last two years with this broker and what I like about this broker is the tight spreads and smooth execution. Crypto assets are also accepted now as payment deposits and withdrawal but so far i have seen that they accommodates four cryptocurrencies right now i.e., bitcoin, ethereum, ripple, litecoin. We insist on trading with forex brokers that accept Mpesa as the ease of depositing and withdrawing money into your forex account plays a major role on your journey to becoming a successful forex trader.
I think this broker is doing such kind of things on fear of money making by their customers and I strongly believe that opposite of my trade will be my broker only. Get direct access to the world’s top financial markets and trade with industry leading conditions and cutting-edge technology anywhere, anytime. Simple, fast and feature-rich, our award-winning mobile application takes you from insight to action by offering you a fully customized mobile trading experience.
First off, there should always be a demo account a Hot Forex does not disappoint. At the very top of the website you’ll see there is a demo button that will take you to the page where you can sign up for a demo account. The benefit to having a demo account is it allows you to gain a familiarity with the trading platform of your choice. Also, it allows you to test trading and investing strategies without risking your hard-earned capital. Trading assets choices offered by this Hot Forex include Forex, cryptocurrencies, metals, indices, shares, energies, commodities and bonds.