HFM HotForex Broker Review 2023 Detailed Analysis on HF Markets

According to new regulations, all Kenyan brokers are required to hold a minimum capital of 50 million Kenya Shilling ($500,000). We were disappointed, however, to find that the broker’s proprietary copy trading service, HFcopy, is not available to UK traders. The powerful service works in MT4 and MT5 terminals to provide automated market scanning to determine patterns and trends based on support and resistance levels. The tool also works 24/7, so you don’t have to constantly watch out for price movements.

HotForex Regulatory Information

However, it is one of the most lagging factors in trading with HotForex, as reported by its clients. Delayed trade execution might not only result in missing a profitable opportunity but can lead clients, especially the scalpers, to incur significant losses during volatile market conditions. Another trade-related fee occurs when you decide to leave your trades open for longer than a day. In those times, the broker will either charge you or credit a certain amount of interest rate, which depends on the interest rate difference between the currencies in your pair.

• HotForex segregates clients’ funds from the company’s operational funds, ensuring that clients’ funds are protected in the event of insolvency.
• Review updates ensure that all the information we provide is current and correct.
• For starters, you can choose those created by the MQL5 Community, when using MT 4 or 5.
• They are available as a desktop client, a webtrader, and a mobile app, while MT4 comes with the PAMM module.

These regulations are designed to protect investors, ensure fair and transparent operations within the forex market, and maintain the integrity of the financial system. The most popular forex broker regulators are NFA, ASIC, FCA, CySEC, and so on. HotForex charges low commissions to clients who open Zero Spread or PAMM accounts. Other account types are not subject to these commissions but do have higher spreads. Our HotForex review team found that this online broker is serious about helping new and veteran traders alike, as they offer an extensive range of educational materials. Features include a full-time online course, webinars, and educational events suited to all levels of trader.

• It enables all trading strategies with a cutting-edge trading environment and competitive fees.
• Webinars, podcasts, and live events add a personalized touch and interactive educational experience.
• Our HotForex review team found that this online broker is serious about helping new and veteran traders alike, as they offer an extensive range of educational materials.

Is HFM (HotForex) Regulated in the UAE?

Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. MT4 and MT5 mobile trading platforms are quite popular among forex traders globally. However, the mobile version of these platforms only offers limited features and accessibility to charts and indicators.

IC Markets has garnered widespread respect among retail and institutional traders thanks to its ultra-tight spreads and deep liquidity access. With pricing starting from 0.0 pips on its Raw Spread account, this brokerage often appeals to scalpers and high-frequency traders who rely on seamless order execution. Clients can choose from MetaTrader 4, MetaTrader 5, or cTrader, each optimized for low-latency trading.

Before you trade, AskTraders.

👉 Multiple account types are one of the first things that Kenyans will notice about this broker. Each of them has its own set of use conditions, such as minimum deposits and trading fees. According to our analysis, the demo accounts at HF Markets are very useful. Demo accounts can be configured differently and traders can gain experience with each account type and trading platform before opening live accounts with real currency. This review lets potential clients know that the costs of trading with the broker are reasonable but not highly competitive.

Verdict on HFM

Retail investors can trade forex, commodities, indices, stocks, bonds, futures and ETFs on the MetaTrader 4 and MetaTrader 5 platforms. This HotForex review will cover all the broker’s most important features, with information on how to open an account and login to the client area, trading fees, payment methods, and more. HotForex presents ECN-type trading through designated account options, granting direct access to significant liquidity pools. By maintaining spreads that can be as low as 0.0 pips and focusing on rapid order execution, HotForex offers conditions favorable to active day traders and scalpers. The broker operates on MetaTrader 4 and MetaTrader 5, enabling robust charting, algorithmic strategies, and advanced order types. This broker offers many trading solutions for retail traders and institutional clients, including various types of accounts and platforms.

The spreads are slightly higher than average but HotForex is a safe and reliable broker to trade forex and CFDs in Malaysia. Most CFD reviews for this broker will also mention the vast range of account types available, in addition to the ability to trade derivatives and forex online. The broker offers lightning-fast execution and strives to have top trading conditions. If you review their website, you will see that its mission is providing the best customer service via a client-centric culture. RoboForex delivers ECN accessibility through its ECN-Pro account, granting traders spreads commonly starting around 0.0 pips. With support for MetaTrader 4, MetaTrader 5, and cTrader, RoboForex offers a high degree of flexibility and advanced charting features.

IC Markets vs ThinkMarkets Compared 2025: Pros, Cons, and More!

The demo account can be very useful for beginners as well as existing traders. Beginners can learn about the forex and CFD market, get familiar with trading tools and terminologies, and can gain experience in the market before depositing real money. Existing traders can test their strategies or build a new strategy with the help of a demo account. Currently, this broker offers a PAMM accounts service for all customers (managed accounts to invest in the Forex market).

If the interest rate for the bought currency is higher than the sold one, you’ll actually get a swap from HotForex; yet if the sold currency has a higher interest rate, you will have to pay a swap. If you sign up for a Zero Spread account, the commission for the major currency pairs per round turn lot will be 6 USD, whereas the trades for other currency pairs will be 8 USD per round turn. For the PAMM Premium Plus account, Forex commissions go up to just 10 USD per round turn, which is not too great considering the sophistication level of this account. STP comes from Straight Through Processing and this means that the broker will pass all or some of the client’s trade to liquidity providers for execution. While this is a better form or organizing the business than a true market maker brokerage house, it is not perfect.

Both MetaTrader 4 and MetaTrader 5 are available, complete with automated trading capabilities and numerous add-ons. FBS also appeals to a wide audience through various promotions and bonuses, although traders should carefully review all terms and conditions. Overall, the broker’s ECN model, combined with dedicated support, contributes to a trading environment that many find transparent and straightforward. Beyond the two main MetaTrader platforms, our review team discovered HotForex also offers an advanced trading platform called HotForex RapidTrade FIX/API.

Regardless of whether a broker offers some fancy additional features or not, having a stable customer support section is always a must. The minimum spread that you’ll be charged at HotForex is going to be 0 pip, i.e. if you choose the Zero Spread account, the only commission you’ll be paying is just 6/8 USD per round turn lot. And as our HotForex Premium account review, as well as other live account reviews, show, spreads start from 1 pip and are variable across all markets.

Compared to other regulated CFD brokers in Malaysia, HF Markets offers a large hotforex broker number of trading instruments. Variety in the availability of instruments provides more opportunities to traders in various capital markets. Many regulated forex brokers do not charge inactivity fees that are much higher at HotForex.

HotForex also provides you with demo accounts to practice, and they offer Sharia-compliant Islamic accounts too. HF Markets, previously known as HotForex, is a well-regulated financial services provider that offers forex and CFD trading services in Malaysia. It allows MYR deposits and withdrawals via bank transfer and several other methods. Alpari is well-established in the forex industry, featuring ECN-style account types for traders who want direct market execution and competitive spread pricing.

These brokers are required by law to keep your funds separate from their own operational money. So, even if the broker faces financial trouble, your money remains safe and untouched. HotForex does offer some benefits that are similar to those of an ECN broker, such as tighter spreads and faster execution on their “Zero Spread” accounts. The broker provides you with almost daily live webinars in eight different languages. During this HotForex review, we attended several and found them to be very useful.

This allows you to enjoy HotForex’s wide range of instruments wherever you are. You can download the apps from the iOS App Store and the Android Play Store, and they offer the same capabilities as their desktop counterparts. HotForex accepts some of the most convenient deposit and withdrawal methods on the market, including a wide range of e-wallets and cryptocurrencies.