We at TseveniFx take forex trading seriously and believe that our visitors from all walks of life deserve to be treated with the utmost respect and dignity. One of the ways we show this is by recommending only brokers that we use for trading and investing. We are currently using HotForex, Now Know as HFM to trade forex and invest in the markets.
HFM, formerly Hotforex, is a forex and commodities broker that serves both retail and institutional clients globally with world-class trading services and resources. Additionally, HFM offers unrestricted access to its liquidity to both traders using expert advisors and scalpers.
Safety and Security
HFM is governed by a number of top-tier agencies, including the FSCA, CySEC, DFSA, FSA, FCA, and FSC. The broker has also taken additional measures, such as fund segregation, negative balance protection, and risk management, to ensure the security and safety of client funds.
Deposit and Withdrawal
The minimum deposit is R100
Methods of deposit
You can now deposit into HFM with using local banks such as Capitec and TymeBank. Other well known methods include Bank Transfers, Credit/Debit Cards, Skrill and Cryptos.
Methods of withdrawal
Withdrawal can be done the done with same methods of deposit, as long as you are the account holder of any selected method. Withdrawals submitted before 10:00 am server time are processed on the same business day between 7:00am and 5:00pm Server Time.
Types of accounts
HFM Demo Account
You can practice trading strategies on a simulated trading environment provided by HotForex's demo account. The environment for demo trading is very similar to that for live trading. You will be provided with R1 000 000 to simulate real trading experience on MT4 or MT5 platforms.
Trading Securities offered by HFM
HFM offers everything and anything traded in the financial markets, from forex, stocks, indices, cryptocurrencies to everything in between. You can trade popular forex pairs such as EUR/USD, USD/JPY, GBP/USD, etc. or you can trade unpopular forex pairs such as USD/NGN (dollar/naira), USD/INR (dollar/Indian rupee), AUD/SGD (Australian dollar/Singaporean dollar), etc.
You can trade well known assets classes and those those that are least traded. The choice is all yours and nothing is stopping you from investing or trading. That is why we use this broker and recommend it to all forex traders, whether you are experience or not. With this brokers, we do not have to hop from one broker to another looking for the missing asset classes or instruments as we can get them all in one place. This is what 'diversifying your portfolio on one platform' should look like.
Tools to help you succeed in trading
This are the tools you can use on a daily basis to have an advantage in the market and over other traders. For example, when using the Autochatist-It scans your watch-list and alerts you to opportunities in real time as soon as a Chart or Fibonacci pattern is identified. It works 24 hours so you don’t have to. Or how about the Advanced Insights which empower your decision making! With sentiment and volatility analysis from our exclusive new insight engine that applies big data AI to millions of news articles, to live trading positions and a timeline of the upcoming events, this new Advanced Insights page provides a whole new trading experience!
Pros and Cons for HFM
PROS
• Excellent trading conditions and smart trading options
• Superior online trading tools
• Multiple types of accounts and trading securities
• Wide range of trading platforms
• Safe and secure trading services
CONS
• Withdrawal take 1 to 3 days