HF Markets Broker Review

Commissions & Fees

Hot Forex offers traders six account types: micro, premium, zero, auto, PAMM (premium) and a copy trading account. The broker offers spreads starting from 1 pip on all account types except for the zero account, which has spreads that start at zero. The zero account offers spreads starting at 0.3 on the popular EUR/USD currency pair, but traders have to pay a 0.6 commission on each trade, which translates to a total cost of 0.9. The premium account offers a 1.2 spread on the EUR/USD pair but does not charge a commission.

Platforms & Tools

Hot Forex offers the popular MT4 and MT5 trading platforms with customisations to suit its clients. The two platforms are offered in different iterations, including the MT4 desktop application, the MT4 WebTerminal, MT4 for Android, and MT4 for the iPhone and iPad.

The broker offers similar platforms for the MT5 trading platform, with the exception of the MT4 MultiTerminal, which has no peer in the MT5 product suite.

The firm also offers a FIX/API interface for advanced traders. However, traders have to part with a minimum deposit of $200,000 to qualify for the FIX/API service and must maintain this minimum balance at all times.

Customer Service

The firm offers customer service from offices located in different countries, with global support provided via a UK toll-free number. Hot Forex has other customer service lines serving Russia, China, Brazil, Taiwan, India, Indonesia, Nigeria and Turkey.

Social media: Facebook.com/HotForex; Instagram.com/HotForex; YouTube.com/HotForex; LinkedIn.com/HotForex; and Twitter.com/@HotForex_Broker

The company also offers support via email, with their website providing various email addresses that customers can use to get through to different departments, such as the execution desk and the sales department.

There are also specific email addresses for non-English speakers where clients can communicate in their national languages. The languages covered include Arabic, Chinese, Korean, Farsi and Spanish.

HF Markets prohibited countries:

Canada | North Korea | Sudan | Syria | United States

From their website:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.33% of retail investor accounts lose money when trading CFDs with HF Markets (UK) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Hot Forex is an Award Winning, global MetaTrader-only broker that offers a significant number of Forex pairs and CFDs for trading. The broker’s commissions and fees are quite competitive according to market standards and are available on its website. The company offers six account types to suit ever type of user, from beginners to the most advanced traders. Hot Forex is doing all the right things to attract customers as it has 1.5 million clients on its books.

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