Hot Forex now known as HF Markets or HFM is a multi-asset Forex broker specializing in Forex and Commodities trading. The brokerage firm was established in 2010 and is headquartered in Cyprus. However, they also have several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines. The broker offers several base currencies, allowing clients to choose their preferred currency.

HotForex broker offers trading platforms such as MetaTrader 4, MetaTrader 5, and Webtrader, which are all reliable and user-friendly. With various trading platforms, traders can choose one that suits their trading style and preferences.

HotForex offers many assets, including equities, energies, forex, and currency pairs. The broker has a solid global presence in over 100 countries and has won multiple industry awards, which is a testament to its reliability and credibility. And in the review of the Hot Forex broker platform, you will learn all there is to know.

Supported Countries

This review of Hot Forex shows that it welcomes clients from many parts of the world except for a few countries due to regulatory restrictions. Many of their traders come from countries such as the Philippines, Nigeria, Colombia, Malaysia, South Africa, the UAE, Mexico, Singapore, Kenya, Brazil, and many more. They also provide limited service to clients from the UK.

Unfortunately, USA, Canada, Sudan, Syria, and North Korean residents cannot use the HotForex platform. Similarly, HF Markets (SV) Ltd does not offer services to residents of Iran, Iraq, Myanmar, Yemen, Afghanistan, and several EEA countries. 

However, even living in a non-supported country, you can still access HF Markets services by going to a supported region.

Customer Service Rating

HotForex is a top-rated broker with a “Great” Trustpilot rating of 3.9 based on 177 reviews. The rating breakdown shows that 54% of users gave a 5-star rating, while 18% gave a 4-star rating.

Reviewers who left positive reviews praised HotForex for its wide range of trading instruments and significant leverage. They also appreciated the fair trade execution process with no delays. Other positives include dedicated account managers, a user-friendly interface, and industry-standard withdrawal processes. 

However, some users had negative reviews, citing issues with difficulty withdrawing or delayed withdrawal.

Hot Forex Trading Platforms

HFM provides several trading platform options, including its very own HFM Trading App., the popular MT4 platform, the latest MetaTrader 5, and Webtrader. These platforms offer tools and resources to help you trade, including technical indicators, expert advisors, and back-testing options. 

Best of all, these platforms are available in various versions, such as desktop, mobile, and web, so you can trade whenever and wherever you want.

• HRM Trading App: Hotforex’s HFM Trading App combines the company’s industry-leading conditions and cutting-edge technology, providing an even better trading experience. With this app, you’ll have access to your account and can instantly trade CFDs on more than 1,200 assets. The HFM Mobile Application also has a “trade on the go” option.
• MT4: If you’re a beginner or an experienced trader, the MT4 platform is perfect for you. With 30 indicators and support for nine time frames, the app offers a locking option and a single-thread strategy tester. The MT4 platform is available on mobile apps (iOS and Android), web terminals, and PC/MAC downloads.
• MT5: Advanced traders looking for more options can always try the MT5 trading platform on HotForex.com. It’s perfect for social trading and algorithmic trading. With more indicators, time frames, and updated strategy testers than the MT4 platform, the MT5 platform offers partial order filling, a built-in economic calendar, embedded MQL5 community chat, six pending orders, market depth, and a hedging option.

Trading Denominations on Hot Forex

HFM broker allows its users to choose from 4 base currencies to denominate their account. These include USD, EUR, NGN, and JPY.

Company Structure

HotForex is a trading name of HF Markets (SV) Ltd, registered as an International Business Company in St. Vincent & the Grenadines with registration number 22747 IBC 2015.

The company’s headquarters is located in Cyprus. Still, its services are regulated by the Financial Conduct Authority (FCA) in the United Kingdom, considered one of the top-tier regulatory bodies in the industry.

Over the years, HotForex has earned a well-deserved reputation for its outstanding performance, as evidenced by the numerous awards and sponsorships it has received. The trading platforms offered by HotForex are all user-friendly and reliable, ensuring a smooth trading experience for traders of all levels.

HF Markets Licenses and Regulatory Compliance

HotForex is a global market maker regulated by several credible financial authorities. This means that they adhere to strict legal requirements that ensure investor safety. Here are the licenses held by HotForex:

• HF Markets (Europe) Ltd is authorized by CySEC (Cyprus) registration no. 183/12
• HF Markets (UK) Limited is authorized by FCA (UK) registration no. 801701
• HF Markets (DIFC) Ltd is authorized by DFSA (Dubai) registration no. F004885
• HF Markets (SV) Ltd is authorized by FSA SVG registration no. 22747 IBC 2015, and by FSC (Mauritius) registration no. C110008214
• HF Markets SA (PTY) Ltd is authorized by FSCA (South Africa) registration no. 46632
• HF Markets (Seychelles) Ltd is authorized by FSA (Seychelles) registration no. SD015
• HFM Investments Ltd is authorized by CMA (Kenya) license no. 155

HotForex is proud to hold several licenses from reputable financial authorities, ensuring clients can trade confidently. With these licenses, HotForex can offer its clients a wide range of trading services in multiple jurisdictions.

Hot Forex Customer Protection

Hot Forex takes excellent care in ensuring the safety and security of its client’s funds. The company has implemented several measures to protect against potential financial loss. One of these measures is a Civil Liability insurance program with a limit of €5,000,000. 

Hotforex broker also maintains separate bank accounts for clients’ funds, ensuring they are never mixed with the company’s funds.

The company is committed to identifying, assessing, and monitoring all risks associated with its operations. In addition, the platform’s reputation as a reputable and reliable broker allows the company to provide liquidity through major banks. They also offer negative balance protection.

Trading Information

Hotforex has over 50 currency pairs available, giving you plenty of options. The spreads are tight, and orders are executed quickly so you can trade confidently. Users can access various deposit and withdrawal methods, making it easy to manage your funds the way you want.

HotForex Leverage

Hotforex has an attractive leverage option. Depending on where you are trading from and the instrument/platform you’re using, you can get leverage as high as 1:1000. However, some countries have a cap on leverage to minimize risk.

Hotforex offers fixed and floating leverage, which is helpful for traders just starting with smaller balances. Higher leverage ratios of up to 1:400, 1:500, or 1:1000 are available through HFM offshore entities. If trading from South Africa, you can only access leverage up to 1:200.

Deposits and Withdrawals

HotForex ensures that depositing funds into your trading account is easy and convenient, so you can focus on trading and making profits.

Deposits 

You can fund your account via bank transfer. For this method, the HFM minimum deposit is set at $50 with no maximum limit. Wire transfer has no fees for deposits over $100 and takes between 2 to 7 business days.

You can also use your credit or debit card to deposit with a minimum of $5 and a maximum of $10,000. There are also a couple of alternative means of depositing on HotForex with various minimum deposits applied.

Withdrawals

Hot Forex makes it easy for clients to withdraw funds from their trading accounts. You can choose from various withdrawal options, including bank transfers, credit/debit cards, and e-wallets. Submitting a withdrawal request before 10:00 a.m. server time will be processed on the same business day between 7:00 a.m. and 5:00 p.m. server time.

Hotforex Trading Education and Training

One thing that the HFM broker platform does well is education, especially for traders in Africa and Asia. They offer a ton of resources to help you improve your skills, no matter if you’re a beginner or a seasoned pro:

• Trading courses
• Live Webinars
• Video Tutorials
• Daily Analysis
• Market Outlooks
• News Feeds
• Analytical Objects
• Economic Calendar
• Autochartist
• Trader’s Board.

Conclusion

Hot Forex Broker is an exceptional online trading platform that offers diverse trading instruments, including forex, stocks, indices, and commodities. The broker has established a strong reputation in the industry thanks to its ideal trading conditions, competitive spreads, and reliable customer service.

A big selling point for HotForex is its multi-regulated status, providing traders with an added layer of security and trust. The platform also offers excellent analytical and research tools.