HotForex review. HotForex is a global Forex broker. There are numerous branches and is specialized in Asia and Africa. The broker is known under the name HF Markets.
The broker operates under the supervision of European authorities. However, it is not always in line with these. In 2016, the CySEC authority imposed a penalty. Because they weren’t fair to their customers with the advertising. And did not properly point out the risks of the Forex market.
HotForex review – an overview
- Regulation by the Cypriot CySEC authority
- low minimum deposit
- on the market for several years
- Already been punished by the regulating authority
There are different trading accounts with different fees and spreads. But you always have to keep in mind that this is a market maker broker!
Only a small minimum deposit is required. As well as a leverage of up to 1: 1000. You can trade a total of 47 different currency pairs. Real money accounts as well as demo accounts can be created for practice. According to my HotForex review, there are always different bonus offers.
Registration is easy. The platform is clear and easy to use. You have to give your email and phone number when you register. You get regularly contacted by customer support. Which doesn’t necessarily have the most customer-friendly reputation.
HOTFOREX REVIEW – HOW TO TRADE?
As with most forex brokers, the Metatrader platform can be used to trade. The broker is sometimes very present in Asia and Africa. In other countries, support and translations are therefore not convincing.
There are many different types of accounts. And you can trade on the popular MT4 platform. Website and registration kept very simple. A small minimum deposit is required.
Nevertheless, HotForex or HF Markets is a market maker! In addition, tehy have already been fined by an authority on the past. And the support that calls you regularly is not always helpful. And not available in many languages.