HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. HotForex is not publicly traded, does not operate a bank, and is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust).
- Well regulated
- Good customer service support
- Well-developed platforms
- Not available in some countries
- No social and copy trading
HotForex is considered average-risk, with an overall Trust Score of 85 out of 99. HotForex is not publicly traded, does not operate a bank, and is authorised by one tier-1 regulator (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). HotForex is authorised by the following tier-1 regulators. Financial Conduct Authority (FCA). Learn more about Trust Score.
What is HFM?
HFM is a multi-asset broker that offers Forex and Commodities, previously known as HotForex through CFDs trading services choice of 7 account types and trading platforms with tight spreads averaging EUR USD 0.1. The broker brings access to unrestricted liquidity allowing any size or profile trader to make a choice between various spreads and liquidity providers via automated trading platforms and performance of any strategy.
The brokerage firm itself was established in 2010 with its headquarter in Cyprus, yet in addition serves several global offices including Dubai, South Africa also offshore entities in St Vincent and the Grenadines.
While indeed HFM shows great interest and impacts mainly in African, Asian and MENA regions which brings some of the great opportunities to the global residents.
Meanwhile, HFM offers its trading service along with the applicable licenses that regulate the Forex industry, therefore delivers service trustworthily.
HFM Pros and Cons
HFM is a broker with good reputation and regulations. The offering is user friendly, with large portfolio for Forex and CFDs, fees are considered low and there is good education section suitable for beginning traders.
On the other hand, XM has limited portfolio for EU clients, and only Forex and CFDs are offered.