Hot forex review: HFM PROS AND CONS

HFM (formerly HotForex) offers a MetaTrader platform with enhanced features and quality research. It also has a copy trading platform, HFcopy, which provides a decent selection, including over 1,000 CFDs and 47 forex pairs. According to hot forex review, HFM’s trading costs are still slightly higher than the industry average, and the HF mobile app supports trading.

What is HotForex?

HotForex was established in 2005 as a unified brand under HF Markets Group. HotForex has been granted regulatory status in Europe via Cyprus’ HF Markets Europe ltd. In the UK, it is regulated by Financial Conduct Authority (FCA), HF Markets UK Limited. HotForex has been licensed in the United Arab Emirates and South Africa, Saint Vincent, and the Grenadines, to provide its customers with financial services. HotForex has won numerous awards. It is a market maker and offers a variety of multi-asset accounts, including currency pairs, forex pairs, bonds, ETFs, Equities, and Cryptocurrencies.

HotForex, which is based in London, offers unique investment opportunities to its clients by offering forex and CFDs (contracts of differences) for metals and indices. It also provides ETFs and bonds for commodities, indices and energies. HotForex is a trusted online trading platform that offers many benefits to customers, including competitive spreads and commissions, technical charting, financial analyses, features, tools, educational options, value-added functionality, and financial analysis.

HFM pros & cons

Pros

• HFM has an outstanding balance between in-house market analysis and third-party research content.
• An in-house team produces special research reports, including quarterly, annual, and monthly outlooks.
• HFM’s Traders Board module has sentiment and correlation data.
• HFM App now supports trading in 1,200 markets
• As part of the Return on Free Margin program (ROFM), traders can earn up to 33% interest on any unutilized margin.

Cons

• Although there are a lot of videos available, HFM’s educational content could use some improvement.
• All account types have trading costs slightly higher than the industry average.
• HFM’s copy trading platform, HFcopy, requires 300 EUR to follow (copy existing strategies) and is not as mature eToro’s offering.

HotForex Features

HotForex has some key features:

• Traders have the option of 6 account types. The minimum deposit amount ranges from $5 to $250, depending on the type of account, maximum leverage limits, spreads, and maximum order sizes.
• HotForex is proud to be the best company offering in-depth market analysis and news. These include articles, videos, and short trading courses.
• HotForex offers advanced trading tools, such as MT4 or MT5, that provide great trading experiences. HotForex’s trading platform offers a variety of technical analysis tools, such as charting tools, trading signals, and market features. It also allows trade execution. The trading platform provides an Autochartist tool, which has been powered with AI pattern recognition to assist traders in strategically timing their trades.
• This platform allows traders to trade multiple tradable assets. It also offers access to more than 1000 securities, including Metals and Forex pairs, energies and cryptocurrencies, ETFs, and stock indices. Its wide range of tradable assets is superior to other forex brokers platforms.
• HotForex offers a proprietary HF app that allows users to track their favorite tradable assets and keep up with market news. Users can also perform technical analysis on these assets. HotForex’s software will enable traders to easily switch between MT4 or MT5 by clicking one button. This is very convenient for users. This platform currently does not have an in-app option.

Is HFM safe to use?

HFM has an overall Trust Score of 85 out of 99. HTMLFM is considered to be an average-risk. It is authorised by three tier-2 regulators (average confidence), one tier-3 regulator (low trust) and one tier-1 regulator. The following tier-1 regulators have granted HFM authorization. 

HotForex Offers Services

Multiple entities license HotForex. This makes trading safe and legal. It offers a variety of financial instruments, and traders have excellent trading opportunities with technical trading tools. This allows them to maximize their profits. It provides a safe and secure cryptocurrency trading platform with easy-to-use features. HotForex offers Forex trading software that will enable traders to trade Forex. The multi-asset platform allows traders to trade stocks, stock indexes, precious metals, Forex, CFDs, and cryptocurrencies.

HotForex reviews have shown that this platform supports Metatrader 4 and the most recent version of MT5. HotForex mobile trading platform, also known as the HotForex app, supports both MT4 (MT5) and MT5. CFDs can be complex instruments subject to high leverage and have a high chance of losing money quickly. This provider loses 71% of retail investor funds when they trade CFDs. It is essential to understand the basics of CFDs and assess your ability to afford the high risk of losing your money.