NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized hotforex broker reviews advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance.

HFM specializes in a broad spectrum of trading products, such as Forex and Spot Metals, and offers CFDs on Commodities, Indices, Oil, and Shares. Additionally, the firm provides avenues for trading in cryptocurrencies and bonds. These products are accessible through the advanced HFM MT4/MT5 and HFM PAMM System, which are meticulously optimized versions of the globally recognized trading platforms.

  1. Other considerations include the research tools and trading platform, whether demo accounts are available for practice, and the quality of the broker’s customer service.
  2. Open an account, find compatible trading styles to mirror, and accrue returns correspondingly.
  3. If a client deposited 100 USD, he/she could receive 30 USD as part of a Rescue Program.
  4. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.
  5. Here again, there are pros and cons to trading in this highly leveraged market.

HFM offers Islamic swap-free trading on 3 trading account levels, Micro, Premium, and Zero Spread respectively. HFM offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries. HF Markets is known for its commitment to providing the best trading conditions possible. HFM offers 5 different account types to suit the specific requirements of a wide range of traders.

HFM Account Types

Use one to practice trading until you’re confident enough to use real funds. The only major difference is that for forex accounts, you are required to sign a margin agreement. This agreement states that you will be trading with borrowed money and, as such, the brokerage has the right to intervene in your trades to protect its interests.

HFM Withdrawal Options

What can be considered the largest forex broker may vary depending on the time period used to measure size. Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization (valuation for public companies). The specific amount of money you’ll need for trading forex will depend on multiple factors, such as your personal financial situation, your trading goals, and your tolerance (or appetite) for risk. You’ll need to open an account and deposit enough collateral (margin) to enable you to place orders with your broker to buy or sell forex. Trading with HFM will involve fees of $5 USD,  spreads of 0.1, and commissions of $3 USD depending on the account and market selected.

That said, if you’re a seasoned investor looking to dabble in trading forex for the first time, you might benefit from going with a more traditional broker to start, like Interactive Brokers or Ally Invest. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.

Popular Forex Broker Reviews

It also involves using margin leverage where a trader only needs to post a small percentage of the full value of their positions. This can lead to either large gains or losses, and sometimes both in the same trading session. The fast moves in forex, coupled with the high leverage of retail currency trading, means it is critical for traders to manage their risk appropriately. As mentioned, this is done through taking appropriately sized positions and employing disciplined risk management techniques with stop-losses. When you open a FX trading account, it will include the execution of a margin agreement, because currency trading includes leverage. An options agreement will be required to trade currency options, which can be accomplished through either over-the-counter (OTC) options offered by some of the forex brokers or exchange-traded options on currency futures.

Although there is no hard and fast rule, a balance of $2,500 in risk capital is a good starting point for developing your FX trading skills. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and an exhaustive list of other important fee-based data points.

HFM does charge an inactivity fee on all accounts that are inactive for more than a six-month time period. If an account is unused for between six months and one year, a $5 fee is charged. HFM does not offer services to residents of certain jurisdictions, including the USA, Canada, Sudan, Syria, Iran, North Korea and others. Plan, execute, and be recognized for your triumphant trades with a performance fee of up to 35%.

Help our agents identify you so they can offer more personalized support. Immerse yourself in a new era of mobile trading and experience the relentless power of the HFM App by downloading or updating to the latest version through Google Play or the App Store. These regular gatherings involve discussion of monetary policy, interest rates, inflation, and other issues that affect currency valuations. Overall, HotForex is one of the best brokers on the scene today and are definitely a great option if you are looking for a new broker. They are well respected in the industry and this is reflected by the numerous awards they win each and every year. They are involved with numerous charities, including the likes of Unicef and Red Cross, as well as sponsoring numerous events over the years, such as the 2017 Carrera Cup.

To help you find the best forex broker for what you’re looking for, we’ve listed our top picks for some of the most sought-after features in the forex industry.’s proprietary Trust Score ranks forex brokers based on their reliability and overall trust. We evaluate and track dozens international regulatory agencies; click here to learn more about Trust Score. Are you looking to speculate that the Euro (EUR) currency will go up in value against the U.S. To do so, you would trade (or place a spread bet on) the EUR/USD currency pair, which is a forex investment.

We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money. In Figure 3, above, we can see many indicators that point to a long position. We have a bullish engulfing, Fibonacci support and a 100-day SMA support. Again, we see a Fibonacci resistance level that provides an excellent exit point.

Podium finisher: Interactive Brokers

Overall, HFM can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on forex to a global market. HFM offers clients multiple deposit and withdrawal options, including Bank transfers, Credit and Debit Cards. The Verification of the HFM live trading account should generally be completed within minutes of uploading all documentation.

Our research team, led by Steven Hatazkis, conducts thorough testing on a range of features, including each broker’s individual products, services, and tools (collecting and validating thousands of data points in the process). Saxo Bank offers the most tradeable CFDs in the industry, with a staggering 60,000+ tradeable symbols available. CFDs, or “contracts for difference,” enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset. If you’d like to learn more about how CFDs work (and to see our picks for the best CFD trading platforms), check out our full-length guide to the Best CFD Brokers and Trading Platforms. HFM formerly is known as Hotforex is a forex and commodities broker that provides award-winning trading services and facilities to both retail and institutional clients worldwide. Furthermore, HFM allows both scalpers and traders using expert advisors unrestricted access to its liquidity.

The spread, calculated in pips, is the difference between the price at which a currency can be purchased and the price at which it can be sold at any given point in time. A high spread indicates a big difference between the prices for buying and selling. This article will show you those differences and help you get started in forex trading. Forex trading in general isn’t where we’d suggest beginner investors get started — if you’re brand new to investing, check out our list of the best brokers for beginners.