| Min. Deposit | 5 USD |
| Regulator | FCA, FSCA, FSA AND DFSA |
| Trading Desk | STP |
| Trading Cost | 10 USD |
| Website Language | English, Chinese, Vietnamese, Indonesian, Portuguese, Arabic, Japanese, Malay, Thai, Spanish |
| Support Language | English, Japanese, Vietnamese, Chinese, Arabic, Hindi |
| Malaysian Client Support | Yes |
| Malaysia Local Bank Deposit | Yes |
| Bonus | 100% Welcome Bonus |
Malaysian traders have a lot of options when it comes to Forex brokers. Choosing the right one can be tough, but we believe that HotForex is the best option for Malaysian traders. In this review, we will discuss why HotForex is a great choice, and how they can benefit from using this broker. So if you are looking for a reliable and reputable broker, read on to find out more about HotForex!
What is HotForex and what do they offer traders
HotForex an award-wining broker operates under the HF markets group. HotForex is a company that lets traders buy and sell currency. They offer a wide range of services, including helping traders to get money in and out of different countries (Foreign Exchange). They also let you trade with other people, which can be a great way to learn more about the Forex market.
In addition, HotForex also offers a range of other services, such as managed accounts and Islamic accounts. This means that they are a great choice for Muslim traders who want to trade in accordance with their religious beliefs. Overall, HotForex is a comprehensive service that offers everything you need to get started in Forex trading.
| Account Information | |
| Base Currencies | EUR, USD, ZAR |
| Number of FX Pairs | 53 |
| Copy Trading | Yes |
| Hedging Allowed | Yes |
| Scalping Allowed | Yes |
| Islamic Account | Yes |
| Trading Conditions | |
| Account Name | Micro, Premium, Zero Spread, Auto, PAMM (Premium), HFCOPY |
| Min. Spread | 0.0 pips |
| Commission | 6 USD / lot – Zero Account |
| EUR/USD | 0.10 pips |
| GBP/USD | 0.50 pips |
| USD/JPY | 0.30 pips |
| Max. Leverage | 1000:1 |
| Company Details | |
| Company Name | HF Markets (SV) Ltd |
| Founded | 2010 |
| Website | www.hotforex.com |
| Office Locations | St. Vincent and the Grenadines |
| Support Email | support@hfeu.com |
Is Hotforex Safe for Malaysian Traders?
This is one of the most important questions to ask when choosing a broker. After all, you are trusting them with your money. Below is information about HotForex regulations.
HotForex (HF Markets Group) is licensed and regulated by the Financial Conduct Authority (United Kingdom), Financial Sector Conduct Authority in South Africa, Financial Services Authority (Seychelles), and Dubai Financial Services Authority. They are also a member of the Client Funds Protection Scheme (CFPS), which guarantees the safety of your funds up to a certain amount.
Pro
- Low minimum deposit
- Tight spreads
- Well regulated
- Good range of accounts
Con
- Limited base currencies
HotForex Malaysia Security & Safety of Funds
Market Leading Insurance
It is important to be protected when you make a trade. You might lose money, or someone might steal your money. Hotforex offers insurance protection so that if you do lose some money, they will make it up to you.
Leading financial safety
HotForex is a well-known and respected broker in the industry. They are known for their safety and security when it comes to finances. This makes them a great option for Malaysian traders who are looking for a reliable broker with a good reputation.
Accounts with major banks
Some people use banks to trade with. They have accounts with those banks. The banks give them a certain amount of money to trade with, and they can make money by buying and selling stocks and other investments.
Segregation of funds
Segregation of funds means that your money is kept separate from the company’s money. This is so that if the company goes bankrupt, your money will still be safe. This is an important feature to look for in a broker, and HotForex has it.
Negative balance protection
Negative balance protection means that if you lose money trading, your broker will cover your losses. This is a great feature, as it means that you will never have to worry about losing more money than you have in your account.
Risk management
HotForex constantly identifies, evaluates, and monitors each type of risk associated with its operations. This means, HotForex continuously evaluates the effectiveness of the policies, arrangements, and procedures provided that allows the company to easily meet its financial and capital needs at any time.
Risk management
Each type of risk associated with the Company’s operations is constantly identified, assessed, and monitored. This entails continuously assessing the effectiveness of the policies, arrangements, and procedures in place that enable the company to easily cover its financial needs and capital requirements at any time.
So, is HotForex safe? Yes, it is. They are a reputable broker with a long history of providing quality service. Plus, their security measures are top-notch. You can rest assured that your money is in good hands with HotForex.
HotForex Trading Fees
HotForex trading fees (trading costs) are how much money you will have to pay to buy or sell things. It is a good idea to know how much money you will be paying before you start trading with HotForex. You can find out the fees for each item by looking at the “Fees” section on the website.
There are three different types of fees that you need to be aware of: the commission fee, the spread fee, and the swap fee. The commission fee is a one-time charge that is made when you make a trade. The spread fee is how much money you will have to pay every time your order changes hands. This can happen when you make a trade or when someone else makes a trade. The swap fee is how much money you will have to pay every time you hold your position overnight. This is also known as the rollover fee.
HotForex has very competitive fees when compared to other brokers. The commission fee is 0.04% for most trades, the spread fee is 0.02%, and the swap fee is 0.06%. You can also find a list of all the fees on the website. These fees are subject to change, so make sure you check the website before you start trading.
Leverage
Leverage is a way to trade with more money than you actually have. When you use leverage, your broker loans you some extra money to help place your trade. This can be risky because if the market moves against you, you could lose more money than you actually have. HotForex offers leverage up to 1000:1 (maximum leverage).
Trading Platforms
HotForex offers a number of different trading platforms, including the popular platform, MetaTrader 4 and MetaTrader 5. The broker also provides mobile trading apps for Android and iOS devices.
HotForex also offers the HotForex Webtrader platform. The HotForex Webtrader platform is a web-based platform that you can use to trade without having to download anything. This platform is convenient because you can use it on any computer that has an internet connection.
HotForex Trading Tools
There are different tools that HotForex offers to HotForex clients to help you trade. These include the HF App, VPS Hosting Service, Premium Trader Tools, Autochartist Tool, and myHF Area.
The HF App is a mobile app that you can use to trade on the go. The VPS Hosting Service is a virtual private server that you can use to run your trading platform 24 hours a day, seven days a week. This service is ideal for traders who want to keep their trading platforms running all the time.
The Premium Trader Tools are a set of tools that include a trading simulator, market analysis tools, and educational resources. An Autochartist tool is a tool that uses artificial intelligence to identify trade opportunities in the financial markets. The myHF Area is an online portal where you can access your account information, view your trading history, and manage your profile.
The HotForex Economic Calendar is a handy tool that keeps traders up-to-date with the latest economic events. The HotForex Newsfeed provides real-time market news and analysis.
HotForex Trading Instruments Offered
HotForex Trading Assets are what you trade with. You can trade stocks, commodities, and currencies. This gives you a lot of flexibility when it comes to what you want to trade. For example, you could trade stocks during the day and then switch to trading commodities at night.
HotForex offers more than 50 different forex pairs and CFDs to trade. This selection is one of the most diverse in the industry, as most other brokers only offer a fraction of this number. You can trade major, minor and exotic currency pairs, as well as CFDs on commodities, indices, bonds, stocks, ETFs, Metals, Energies, and cryptocurrencies
Deposits and Withdrawals
You can deposit and withdraw money at any time using several different methods.
HotForex accepts deposits and withdrawals through credit cards, local Malaysia bank transfers, and several other methods. This makes it easy to deposit and withdraw money.
Education & Research
HotForex offers a variety of educational resources, including webinars, video tutorials, and an extensive FAQ section. The broker also provides market analysis and commentary from its team of experts. In addition, HotForex offers a demo account so that traders can practice trading in a risk-free environment.
The company’s research offerings are also impressive. HotForex provides traders with access to a variety of market reports and analysis tools. These resources can help traders make informed decisions about their trading strategies.
HotForex customer support
HotForex provides customer support in a number of different languages, including English, Malay, Mandarin, and Cantonese. The broker’s customer service department is operating 24/5 via telephone, email, and live chat.
HotForex Account Type
HotForex offers a variety of different account types, so you can choose the one that best suits your needs. You can also take advantage of their demo account, which lets you practice trading with real market conditions before you risk any money. The account types that HotForex Malaysia offers is:
Micro Account
This account is good if you want to trade small amounts of money.
- Minimum Deposit: $5
- Maximum Leverage: 1:1000 *
- Spreads Types: Variable
- Spreads from (pips): From 1 pip
- Max Simultaneous Open Orders: 150
Premium Account
This account is good if you want to trade a lot of money.
- Minimum Deposit: $100
- Maximum Leverage: 1:500 *
- Spreads Types: Variable
- Spreads from (pips): From 1 pip
- Max Simultaneous Open Orders: 300
Zero Spread Account
This account is good if you want to trade without paying any fees.
- Minimum Deposit: $200
- Maximum Leverage: 1:500
- Spreads Types: Variable
- Spreads from (pips): From 0 on Forex
- Max Simultaneous Open Orders(*): 500 / (*)60 Standard lots per position
Auto Account
This account is good if you want the broker to make all the decisions for you.
- Minimum Deposit: $200
- Maximum Leverage: 1:500 *
- Spreads Types: Variable
- Spreads from (pips): From 1 pip
- Max Simultaneous Open Orders: 300
PAMM (Premium) Account
This account is good if you want someone else to trade your money for you.
- Minimum Deposit: $250
- Maximum Leverage: 1:300
- Spreads Types: Variable
- Spreads from (pips): From 1 pip
- Max Simultaneous Open Orders: 500
HFCOPY Account
This account is good if you want to copy the trades of other people.
- Minimum Deposit: $500 for Strategy Provider, $100 for Follower
- Maximum Leverage: 1:400
- Spreads from (pips): From 1 pip
- Max Simultaneous Open Orders: 300
HotForex also offers a demo account so that you can try out their platform before you deposit any money.
How to get started with HotForex
You can start trading with HotForex by creating an account on their website. You will need to provide some personal information, like your name and email address, before you can start trading. Once your account is set up, you can deposit money into it and start buying and selling currencies.
Why Malaysian traders should consider using HotForex
HotForex is a good broker for Malaysian traders because it offers a wide variety of products and services. It has a user-friendly platform, and its customer service is considered as good. Plus, it has a high reputation for being reliable and trustworthy.
HotForex offers a variety of account types to suit the needs of different kinds of traders. For instance, it offers a micro account for those who want to trade with small amounts of money. It also has a Premium account for those who want to trade with large amounts of money.
HotForex also offers a wide range of payment methods. For instance, it accepts credit cards, bank wire transfers, and e-wallets like Skrill and Neteller. Plus, it offers a fast and efficient withdrawal process.
Malaysian traders should consider using HotForex to get the most out of their trading experience. Overall, HotForex is a great choice for Malaysian traders.
What is the advantage and disadvantage of HotForex
The advantages of trading with HotForex are many, but some of the most important include:
- ward-winning customer service that is available 24/5
- A wide range of account types to suit all traders, from beginners to experienced professionals
- A choice of over 500 tradable instruments, including Forex, stocks, commodities, and indices
- A variety of powerful trading platforms that can be tailored to your individual needs
- No commissions or hidden fees, and tight spreads from as low as 0.0 pips
Some of the disadvantages of trading with HotForex include:
- Lack of local support in Malaysia (though customer service is available in a variety of languages 24/5)
- Not regulated by the Malaysian financial authorities
Conclusion
HotForex is a well-rounded broker that offers a variety of services and products for Malaysian traders. The company’s education and research offerings are comprehensive, and the broker provides a number of different trading platforms and tools. In addition, HotForex offers excellent customer support in multiple languages. Overall, HotForex is a good choice for Malaysian traders.