HFM is a subsidiary of HF Markets Group, established in 2010, headquartered in Cyprus, with various global offices located in Dubai, South Africa, and holds numerous licenses from different financial regulatory bodies worldwide. Currently, HFM offers 17 trading instruments and over 150 products, ranging from Indices, Metals, Energy, Stocks, Commodities, Bonds to Cryptocurrencies.
Over the course of its 10-year operation, HFM has been providing customer services in 27 languages, an impressively diverse figure, enabling traders from all around the world to participate and receive support from the HFM advisory team. According to the information provided by the platform, HFM has more than 2 million opened accounts, received over 35 awards, and attained various accolades. These achievements reflect the worthy reward for the efforts HFM has put forth over time.
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HotForex’s Operating Licenses
Due to its global operations, it’s not surprising that HotForex holds a total of 7 licenses from various regulatory authorities, a number quite impressive and comparable to the number of licenses held by XTB:
HF Markets (Europe) Ltd – Regulated by CySEC (Cyprus) under license number 183/12.
HF Markets (UK) Limited – Regulated by FCA (UK) under license number 801701.
HF Markets (DIFC) Ltd – Regulated by DFSA (Dubai) under license number F004885.
HF Markets (SV) Ltd – Regulated by FSA SVG under license number 22747 IBC 2015.
HF Markets (SV) Ltd – Regulated by FSC (Mauritius) under license number C110008214.
HF Markets SA (PTY) Ltd – Regulated by FSCA (South Africa) under license number 46632.
HF Markets (Seychelles) Ltd – Regulated by FSA (Seychelles) under license number SD015.
Looking at the number of licenses, it’s evident that HFM possesses several valuable licenses such as FCA and CySEC.
Trading Platforms Provided by HotForex
In addition to MT4 and MT5, HotForex has also developed the HF App, a dedicated application for traders. Moreover, HotForex offers the HotForex RapidTrader API, a trading software developed specifically for high-end clients, a rarity among trading platforms.
HotForex’s MT4 Platform
The significance of the MT4 platform in forex trading needs no introduction. It is the gateway without which traders could not engage in forex trading. HotForex has developed MT4 in various versions for different uses: desktop versions for Windows and macOS, web-based versions, Android and iOS apps, and even a version compatible with iPad.
Key Features of MT4:
9 different timeframes.
Detailed price fluctuation analysis.
Simultaneous display of multiple charts.
Stacking of analytical objects.
Over 50 integrated indicators and tools.
HotForex’s MT5 Platform
MT5 is an improved version of MT4, retaining all the essential features of MT4 while addressing some of its shortcomings. MT5 offers expanded timeframes, pending orders, and technical analysis indicators. Moreover, it allows trading various stocks available on HotForex and is compatible with various devices and operating systems, including desktops, web, Android, iOS, and iPad.
HotForex’s Account Types
HFM has refined its offerings to provide an enhanced experience for clients, offering 4 main types of accounts:
Cent Account
Minimum Deposit: 0 USD
Maximum Leverage: 1:2000
Minimum Spread: from 1.2 pips
Minimum Order Size: 0.01 Lot
Maximum Pending Orders: 150
Commission: None
Premium Account
Minimum Deposit: 0 USD
Maximum Leverage: 1:2000
Minimum Spread: from 1.2 pips
Maximum Pending Orders: 500
Commission: None
Trading Platforms: MetaTrader 4, MetaTrader 5, Webtrader, and Mobile Trading
Zero Spread Account
Minimum Deposit: 0 USD
Maximum Leverage: 1:2000
Minimum Spread: from 0 pips for forex and gold
Maximum Total Trade Size: 60 standard lots per position
Maximum Pending Orders: 500
Commission: from 6 USD per lot
Trading Platforms: MetaTrader 4, Webtrader, and Mobile Trading
Pro Account
Minimum Deposit: 100 USD
Maximum Leverage: 1:2000
Minimum Spread: from 0 pips for forex and gold
Maximum Total Trade Size: 60 standard lots per position
Maximum Pending Orders: 500
Commission: from 6 USD per lot
Trading Platforms: MetaTrader 4, Webtrader, and Mobile Trading
In addition to the above accounts, HFM also offers HFcopy accounts for copy trading purposes
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Leverage and Commissions at HFM
The maximum leverage at HotForex is 1:2000, with variations depending on the account type and traded products:
Major forex pairs: maximum leverage 1:2000
Metals and energy: Brent Crude maximum leverage 1:66; Silver maximum leverage 1:100; Gold maximum leverage 1:200
Indices: maximum leverage 1:50
Stocks: maximum leverage 1:14
Commodities: maximum leverage 1:20 (Palladium), Cocoa 1:66, Cotton 1:66, and more
Cryptocurrencies: maximum leverage 1:10, except for XRPUSD with maximum leverage 1:5
Commissions: Only the Zero Spread account type incurs commissions. The fees are as follows:
Gold: 14 USD per lot per side
Major forex pairs: 6 USD per lot per side
Deposits and Withdrawals at HFM
HotForex offers various deposit methods for Vietnamese traders, including Internet Banking, Visa, Skrill, and Neteller. The platform implements an automatic e-wallet withdrawal mechanism, ensuring swift withdrawal times, typically around 1 day for funds to reach the account.
Furthermore, HotForex stands out as one of the few platforms offering free Visa deposit and withdrawal services. While many platforms advertise free Visa transactions, there are often hidden fees due to intermediary bank charges. However, HotForex has effectively eliminated these fees.
Conclusion
In conclusion, HotForex (HFM) offers a wide range of trading instruments and products through its various account types, catering to both experienced and novice traders. With its numerous licenses, advanced trading platforms, competitive spreads, and flexible leverage options, HFM provides a comprehensive trading environment. Additionally, its customer-centric approach and diverse language support make it a viable choice for traders worldwide.