The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
Hotforex is the brand name of the HF Markets Group, a multi-asset CFD broker operating since 2009. The broker’s product mix includes 150+ financial instruments comprising CFDs in forex, commodities, cryptocurrencies, metals, energy, shares, indices and bonds. The trading conditions include raw spreads with zero markups, the option to scalp & hedge positions, a transparent rollover policy, free VPS, and low minimum account deposits. Besides, HF Markets provides plenty of free educational material, including e-learning, video tutorials and live webinars and 24/5 customer support.
The subsidiaries of HF Markets operate under various regulators in the jurisdictions from where they operate. They include the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), the Financial Sector Conduct Authority (FSCA) and the FSA in Seychelles. The CFD broker also has an International Business Company registration in Saint Vincent & the Grenadines.
HF Markets is one of the leading CFD brokers in the industry, not only in terms of the services they offer but also when it comes to the safety of client deposits and data security. Since its incorporation, HF Markets has over 2,000,000 live accounts, received 35+ industry awards and supports more than 27 global languages.
HF Markets is a MetaTrader broker. Not only do they offer the world’s most widely used CFD platform, the MetaTrader 4, but clients can also access the cutting edge MetaTrader 5 across all computer and mobile devices. However, the MT4 and MT5 platforms are only available to Hotforex clients who come under the SV registration. To access the platforms, all you have to do is sign-up with the broker for a live account or checkout the HF Markets demo and test all the features from 100,000 in virtual currency. Before we analyse the two trading platforms, here’s a quick look at the account opening process at HF Markets.
If you are a resident or a UK citizen, HF Markets offers clients the option to choose between three account types- Premium, Zero Spread and Premium Pro. To compare the benefits of each of them, select ‘Account Comparison’ from the ‘Accounts’ tab on the homepage.
All the trading accounts have variable spreads with max leverage of 400:1 for professional clients and 100:1 for experienced traders. Also, the minimum deposit varies from $£€100 for the Premium Account to $£€5,000 for the Premium Pro Account. Depending on your expertise, preferred leverage, spread and trading style, you can select either of the account types.
In this guide, we take you through the step by step process to open a Premium Account.
We started by clicking on the ‘Open a Premium Account’ button.
The next step involves filling out an email confirmation form that includes the client type besides personal info such as residential & email address, country, contact details and preferred base currency.
Continue by clicking the ‘Register’ button and confirm the email address.
Log in to the HF Markets client area by using the id/password combination sent to the registered email address. From the client area, you can open another trading account, complete the registration process, upload the id and proof of residence documents, besides funding your account.
Once you complete the entire account opening procedure and upload your documents, you can access the HF Markets Live MT4 and MT5 trading platforms.
However, if you’d prefer to check out the demo platform first, click on the DEMO tab, choose between new/existing client, base currency and account balance. Click on ‘Open demo account’, select the trading platform, log in with the id/password combination and start trading.
MetaTrader 4 is the world’s most widely used CFD trading platform, available as web, desktop and mobile applications. The terminal supports forex and CFD trading in commodities, cryptocurrencies, stocks, indices, ETFs and derivatives. The user-friendly interface makes it easy to understand all the operational features of the trading terminal, even for freshers. But, if you still need assistance, you can make use of the detailed user guide.
The MT4 is accessible in 41 languages and supports three types of order execution; Instant or one-click, market and pending. You can place orders from multiple panels in the workspace or exit at the click of a button; it’s that simple. When it comes to the charting, you can access three chart types in nine-time frames; one minute-one month. The analytical tools include 30 in-built technical indicators and 24 graphic objects.
The platform supports manual, automated, copy trading characteristics, is accessible on all browsers, operating systems, Android and iOS devices.
The Hotforex MT4 includes all the basic features of the MetaQuotes software plus a few more. The broker has included live news, economic calendar and a host of features from the Autochartist suite such as the market scanner, risk calculator, performance matrix, among others. All these advanced features are available across the MT4 platforms at no cost to clients.
The MetaTrader 5 is a multi-asset platform for CFDs and exchange-traded instruments. The platform supports two accounting modes; netting for exchange-traded products and hedging for forex, CFDs. The order types include instant, market and pending, advanced-market depth, news, and a full arsenal of analytical tools. The charting features comprise three chart types in 21-time frames with over 80 in-built technical indicators and analytical objects. Besides, you can open up to 100 charts at the same time.
Just like the MT4, the platform supports manual, automated and copy trading, is accessible on all browsers, operating systems, Android, iOS devices.
Besides the several in-built analytical tools and EA’s on the MT5, HF Markets has also integrated advanced trading features. These include the trade terminal, mini terminal, connect, sentiment trader, alarm manager, excel RTD, correlation matrix, correlation trader and many, many more. Also, clients registering with HF Markets (SV) Ltd can access all the Autochartist tools from both the MT4 and MT5 platforms. However, only clients with a Live account are eligible to receive premium trading tools. If you’re interested in hosting your platform on the cloud, you can apply for the free VPS on meeting specific minimum account deposit criteria or subscribe from $30/ month.
HF Markets is one of the very few CFD brokers to offer both the MetaTrader 4 & 5 platforms across all computers and mobile devices. Besides, the market-making broker also allows clients to scalp or hedge positions, provides premium trading tools, negative balance protection and is a member of investor compensation funds in the UK, EU.
Not only would you benefit from the several analytical features of the world-class platforms, but the free VPS and the inclusion of Trading Central plugins are certain to enhance your broad trading performance.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .