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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

3.9
/ 5

HotForex review

By azeshan
Updated on Nov 6, 2024
|
8 mins read

Overview

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...
See full overview for HotForex
Countries
+214
Devices
Our Verdict
3.9
/ 5
Commissions & Fees
3.4
/ 5
Deposit & Withdrawal
4
/ 5
Customer Support
4.1
/ 5
Account Opening
4.2
/ 5
Regulation & Safety
4
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Multiple regulatory bodies regulate it.

  • Low spreads starting from 0.1 pips.

  • High leverage of up to 1:1000 for professional clients.

  • Has a wide range of trading assets, including forex, commodities, indices, and Energies.

  • Excellent customer support with 24/7 live chat, phone, and email support.

Cons

  • Does not accept clients from the USA, Canada, Sudan, Syria, and North Korea.

  • Hot Forex’s trading fees are slightly higher than average industry rates.

  • HFcopy requires a minimum investment of 300 EUR, often considered steep.

General details

Type of accounts
Demo accounts (with a time limit)
Standard Accounts
Swap free accounts
VIP accounts
Micro accounts
Segregated accounts
Trading platforms
Execution Model
NDD
Deposit currency
USD
EUR
PLN
Regulatory complience
CySEC
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Arabic
Bengali
Hungarian
Vietnamese
Greek
Indonesian
Spanish
Italian
Chinese
Korean
Malay
German
Persian
Polish
Portuguese
Romanian
Russian
Slovak
Thai
French
Hindi
Croatian
Czech
Autotrading
HFcopy MT4 EA MT5 EA
Contact details
[email protected] +44-203 097 85 71

Customer reviews

Read real reviews from traders all over the world:

C
Chelsea
17 March 2023
Advantages: Fast payouts, timely withdrawal,smooth execution, low spreads, leverage
Disadvantages: na so far
I have account with this broker since 2020 lock down and so far i have no issues trading and withdrawig profits from them.
N
Nica
10 March 2023
Advantages: well known with a decade old in the space of forex
Disadvantages: they do not accept us based traders
over all the broker is pretty decent, might as well put them among the top 7 of all forex brokers in the space, multi regulations with very good platforms. wuiet satisfied with they services
See all 61 customers reviews

Accounts

Type of Trading Accounts on Hot Forex

Hotforex Broker offers its clients a range of account types to choose from. Five account types are available: Micro, Premium, Zero Spread, HFcopy, and PAMM (PREMIUM).

  • Micro account: Hotforex’s Micro account type is an excellent option for those just starting with forex trading or who prefer to trade with smaller volumes. It has a minimum deposit of $5, You’ll have access to all available trading instruments, and with variable spreads starting from just 1 pip, you can keep your trading costs low. The maximum leverage on the Micro account is an impressive 1:1000. The account also features market execution, fifth decimal pricing, and the ability to trade in increments of 0.01 lots. You can open up to 150 simultaneous open orders; the maximum total trade size is 7 standard lots. The margin call is 40%, with a stop-out level of 10%.
  • Premium account: The account type allows for variable spreads starting from 1 pip, with a fifth decimal option available. With a minimum deposit of just $10, you can begin trading and benefit from maximum leverage of 1:500. This account type also enables market execution with a trade size increment of 0.01. The maximum total trade size is 60 standard lots per position. The maximum simultaneous open orders for this account type are 500, with a margin call of 50% and a stop-out level of 20%. You can choose USD, EUR, NGN, or JPY as your account currency.
  • Zero Spread account: With this account type, you get spreads from 0 on Forex and Gold, making it easier to maximize your profits. You can trade all available instruments and enjoy a maximum leverage of 1:500. The minimum deposit for this account type is $200, and the minimum trade size is 0.01 LOTS (1,000 units of the base currency). Plus, you get a personal account manager and the option for telephone trading. The account is available in USD, EUR, NGN, and JPY.
  • HFcopy account: As an HFcopy account holder, you can choose to be a strategy provider or a follower. Strategy providers must deposit at least $500, while followers only need to deposit $100. You’ll have access to trading on Forex, Indices Spot, Gold, and Energies Spot markets. Spreads are variable and start from just 1 pip, while the maximum leverage is 1:400. You can trade in increments of 0.01 lot with a maximum total trade size of 60 standard lots per position. The account currency is USD, and forex pairs have no commission.
  • PAMM (PREMIUM) account: You’ll have access to variable spreads starting from just 1 pip. Plus, you enjoy its contract size of 1 lot equals 100,000 units, so you can confidently make trades. You can easily get started with a minimum deposit of only $250 and a minimum trade size of 0.01 Lot. With a maximum leverage of 1:300 and no limit on the maximum total trade size, you can trade on your terms. There is also a margin call of 50% and a stop-out level of 20% to manage risk effectively.
PAMM - HotForex
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
Stop Out
20 %
Minimum position size
0.01 units
Maximum position size
No limit units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
50 %
Commission
Yes
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
ZERO Spreads - HotForex
Swap-free account
Availability of a VIP account
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
Stop Out
20 %
Minimum position size
0.01 units
Maximum position size
No limit on units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
50 %
Commission
8 USD per lot
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
FIX - HotForex
Swap-free account
Phone trading
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
PLN
Trading instruments
Cryptocurrencies
Stop Out
20 %
Minimum position size
1 units
Maximum position size
60 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
50 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
VIP - HotForex
Swap-free account
Availability of a VIP account
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
PLN
Trading instruments
Cryptocurrencies
Stop Out
20 %
Minimum position size
1 units
Maximum position size
No limit on units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
50 %
Commission
3 USD for 100,000 USD trades
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Premium - HotForex
Swap-free account
Availability of a VIP account
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
PLN
Trading instruments
Cryptocurrencies
Stop Out
20 %
Minimum position size
1 units
Maximum position size
60 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
50 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Auto - HotForex
Swap-free account
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 Meta Trader 4 Mobile
Deposit currency
USD
EUR
PLN
Trading instruments
Forex
1:400
Number of currency pairs: 29
ARS
AUD
BGN
CAD
CHF
CLP
CZK
DKK
EUR
GBP
HKD
HRK
HUF
ILS
ISK
JPY
MXN
NOK
NZD
PLN
RUB
SAR
SEK
SGD
THB
TRY
UAH
USD
ZAR
1:100
Cryptocurrencies
Stop Out
20 %
Minimum position size
0.01 units
Maximum position size
60 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
50 %
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on HotForex trading platforms include:

  • 90+ Stock CFDs.
  • 2 Energy CFDs 
  • 6 Metal trading 
Currencies
50
Stocks
90
ETF
30
Indices
12
Commodities
5
Bonds
3

Frequently asked questions

Find the right answer to your question below.

Is Hot Forex the same as HFM?

In May 2022, the global multi-asset broker unveiled a fresh, new look as it underwent a visual transformation of its corporate name and logo. This was to accommodate the Broker’s reach beyond Forex trading. Now, HFM is known as HF Markets, or HFM for short.

Is Hot Forex a Scam?

HF Markets has been a legitimate and regulated broker in the industry for over a decade. Their clients range from individual traders to large financial institutions, and they pride themselves on providing top-notch trading conditions, security, and transparency. Hot Forex has won numerous awards for its excellent services and customer satisfaction.

How do I open a Hotforex trading account?

To create an account with HFM, navigate to their website and click the “Open Live Account” button in the top menu bar.

HotForex compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
HotForex
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • 3.9
    / 5
  • 4
    / 5
  • N/A
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  • CYSEC, FIU
  • No
  • See review
Forex.com
  • Specialized trading accounts
  • 24/7 instant money withdrawal
Start trading
73%-77% of retail investor accounts lose money when trading CFDs with this provider.
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  • 100$
  • 1:50
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  • $0
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  • FCA, CFTC, NFA, CIRO, CIMA, CYSEC
  • Yes
  • See review
  • 3.9
    / 5
  • 4
    / 5
  • N/A
  • N/A
  • 4.1
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  • 3.7
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  • CYSEC, FSC
  • No
  • See review
LiteFinance
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 3.9
    / 5
  • 3.5
    / 5
  • N/A
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  • 4.3
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  • N/A
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  • 3.9
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  • CYSEC
  • No
  • See review
ForexMart
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.1
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  • 4.2
    / 5
  • N/A
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  • 4.7
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • CYSEC
  • Yes
  • See review
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