All About HF Markets: a profound HotForex Review

HF Markets Review

HotForex is a broker that is partners with MetaTrader; when you use their services, you gain access to a complete MetaTrader suite, as well as optional premium tools. It’s also known as HF Markets, for short. Is this broker a good solution for your trading needs? Read our comprehensive HotForex review to find out!

Pros and Cons

What sets HotForex apart from other brokers, and what could be improved?

ProsCons

+ HotForex offers negative balance protection; therefore, you don’t have to worry about paying back a sub-zero balance during highly volatile conditions.

+ Strictly regulated and regularly audited

+ Unparalleled liability insurance of 5,000,000 EUR

+ Investor compensation fund

+ Excellent HotForex swap calculator

– Not as beginner-friendly as other brokerages

– We’d like to see a wider variety of account base currencies

Key Features

There are plenty of features you get to enjoy when using HotForex. For instance:

  • Online account management via myHF portal
  • Rollover policy
  • Affiliate program
  • Free account funding
  • Spreads starting from 0.1 (EUR/USD)
  • Hedging and scalping are allowed
  • One-click training
  • Free educational material
  • Breaking market news
Trading Instruments1000+ tradable instruments across:
Forex
Metals
Shares
Energies
Indices
Bonds
Commodities
SpreadsHF Markets offers low commissions and very tight spreads.
Find more information on HF Markets Spreads Comparison page.
Leverage– HF Markets removed their leverage quotes from their site. Instead, they say leverage is variable dependent on the product.
– Reach out to them to find out what leverage they can offer you.
Trading PlatformsHotforex platforms for PC:
– HF Markets MT4 Terminal
– HotForex MT4 Multiterminal
– MT4 WebTerminal
Hotforex platforms for mobile devices:
– Ipad Trader HotForex app
– HF Android app
– HotForex iPhone Trader app
Base Account CurrenciesUSD
EUR
NGN
Regulation– FCA
– CYSeC
– DFSA
– FSCA
– FSA
– other regulators in certain countries
Demo AccountYes
Islamic AccountYes
Deposit Compensation Scheme180+ countries are supported

Account Types

There are six main types of HotForex accounts. We have compared them on several grounds:

MicroPremiumZero Spread
Minimum Deposit $5$100$200
Trading instrumentsForex, Metals, Energies, Shares, Indices, Bonds, Commodities, Dma stocks, ETFs, CryptocurrenciesForex, Metals, Energies, Shares, Indices, Bonds, Commodities, Dma stocks, ETFs, CryptocurrenciesForex, Metals, Energies, Shares, Indices, Bonds, Commodities, Dma stocks, ETFs, Cryptocurrencies
Spreadsfrom 1 pipfrom 1 pipfrom 0 on Forex
Maximum Leverage1:10001:5001:500
Max Simultaneous Open Orders150300500
Stop Out Level10%20%20%
Account CurrencyUSD, EUR, NGNUSD, EUR, NGNUSD, EUR, NGN
Commission for forex pairsNoNoYes
Flexible Bonus OfferingsYesYesNo
AutoPAMM (Premium)HFCopy
Minimum Deposit $200$250$500 for Strategy Provider, $100 for Follower
Trading instrumentsForex, Metals, Energies, Shares, Indices, Bonds, Commodities, Dma stocks, ETFs, CryptocurrenciesForex, Indices Spot, Commodities, SharesForex, Indices Spot, Bitcoin, Gold
Spreadsfrom 1 pipfrom 1 pipfrom 1 pip
Maximum Leverage1:5001:3001:400
Max Simultaneous Open Orders300500300
Stop Out Level20%20%20%
Account CurrencyUSD, EUR, NGNUSDUSD
Commission for forex pairsNoNoNo
Flexible Bonus OfferingsNoNoNo

Deposit Options

Deposit OptionMin. Deposit AmountMax. Deposit AmountProcessing Time
Bank Wire Transfer$250UnlimitedDepends on the banks involved. Once funds are shown in our bank account they will be credited within one day to your account.
Bank Cards (VISA, MasterCard, Maestro)$50$15 000Up to 10 minutes
E-Wallets (Skrill, Neteller)$50$10 000Up to 10 minutes

Withdrawal Options

Withdrawal optionMin. Withdrawal AmountProcessing Time
Bank wire transfer$1502-10 business days
Bank Cards (VISA, MasterCard, Maestro)$52-10 business days
E-Wallets (Skrill, Neteller)$5Instant

Note: There are no fees charged by HF Markets for bank wire transfers, but the fees can be charged by the bank you currently use for making transactions according to its terms.

HF Markets Bonus and Promotions

HotForex bonuses give account benefits to users. There are a couple of bonuses that you can use: the 100% supercharged bonus and the 100% credit bonus.

100% credit bonus: HF Markets users are able to increase their account leverage, get a relaxed time limit for volume requirements, withdraw the bonus once volume requirements are fulfilled, and it essentially makes the cash balance stop-out level equal to zero.

100% supercharged bonus: you can earn $2 per lot in daily cash rebates — these are credited directly to your HF Markets account. This bonus is applicable to each deposit you make of $250+. You can earn a limit of $8,000 in cumulative rebates! That money can then be traded or withdrawn.

Best Payment Solutions for HotForex Users

A bit earlier in the review, we discussed the various deposit and withdrawal options. While HotForex might not have as many payment solutions available as other trading platforms, there are still enough to be conflicted over. On the one hand, wire transfers allow you to make huge deposits – on the other hand, they also have greater minimum withdrawals.

skrill_neteller_VIP programFor a solution that allows sufficient minimum and maximum deposit/withdrawals, as well as unparalleled safety, we strongly recommend using Neteller or Skrill. When you work with a third-party e-wallet, you don’t have to worry about inputting your bank details or credit card number into the HotForex site. The e-wallet offers you protection and great terms – plus, we can make those terms even better. Do speedy verification processes, improved limits, and simplified VIP access sound good to you? If so, just use our links to sign up for a Neteller or Skrill account.

trastra logo brokerIf you are going to make deposits/withdrawals via your VISA card on HotForex you should try Trastra. Registering in Trastra via Baxity you get a range of benefits: a rebate on the Trastra VISA card, IBAN account, card purchases and crypto2crypto transfers free of charge and cards available without a bank account.

FAQ

What is the minimum deposit/withdrawal on HotForex?

This depends on your deposit or withdrawal method. The absolute minimum withdrawal is $5, and the absolute minimum deposit is $50. Those are applicable with HF Market’s accepted online wallets and credit cards.

Are there any deposit/withdrawal fees?

HotForex does not charge any withdrawal or deposit fees. However, your banking institution may charge a fee of its own.

How do I manage my risk?

HotForex offers risk protection by enabling limit orders and stop-loss orders. The former restricts the minimum price to earn or the maximum price to pay. The latter dictates that a certain position should be automatically sold at a set price.

How do I contact HotForex customer support?

HotForex customer support is available 24/5 (Monday through Friday). You can fill out a contact form with your HotForex login details or call their customer service phone number. Also, there is a live chat option that will be suitable for you if your issue is a matter of some urgency.

Comments

  1. Went demo trading for more than 2 months to live training and I still have a less way to go. Def a lot to learn as well, especially after dipping into crypto trading.

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