A Warm Welcome
Hello amazing readers and subscribers, it’s good to have you here. If you just stumbled upon this blog, a warm welcome to you as well. Please feel free to subscribe for future publications. Locate a subscribe button on the sidebar, add your email address, click on subscribe and an email will be sent to your mailbox (could lend on spam/junk folder). Open the email and confirm by clicking the link. Please be assured that your email address will never be used for spam emails but only for notifying you of a new publication whenever there’s one.
What channel and why?
A few years ago in 2013, I decided to start this blog to share my trading experiences and also to share realistic and practical Forex trading tips that I believe anyone can use. I must say, I never expected so much growth in terms of getting my message across. It has been a great pleasure to be able to change people’s mindsets and how they view Forex trading through this blog. I am totally grateful to you as well for subscribing, reading and sharing the blog posts. You have played a big role in growing this blog. I am forever grateful.
I have started a podcast not only because I love talking (Of course I love talking, I really do) but because I thought it will also be another great and awesome way to share my message and also to put the voice behind all this writing that I’ve been doing here. As a teacher/mentor & coach, I have learned through my mentees that some people get the message better through listening than reading.
What Will The Podcast Focus On?
The podcast is to tell you more about my personal journey, who I am and why do I do what I do. You can listen to the podcast introduction HERE. The main aim of it is to help new traders to understand more about Forex trading and also just to learn from my personal mistakes that I will be sharing. It is not only for new traders, but for anyone who have ever found valuable information from this blog. I have already shared some of the mistakes that most traders are likely to make. You can listen to the episode HERE and kindly follow/subscribe for future episodes. Thank you so much for stopping by and happy trading.
Hotforex is one of the most popular forex brokers in South Africa and abroad. HF Markets, together with Hotforex are brand names of the HF Markets Group. One can trade beyond currencies with HF. Their product offering is diverse and includes commodities, shares, energies, indices, and cryptocurrencies.
This Hotforex review will summarize the basics so that you can make an informed decision.
==========>Open a Hotforex account here (South Africa) OR here (outside South Africa)
HOTFOREX REVIEW: LICENSES & REGULATIONS
HF Markets SA (Pty) Ltd is registered with the Financial Sector Conduct Authority (FSCA – See no. 46632), as well as the FSC (no. C110008214).
Hotforex also holds a license to operate in Dubai (F004885), the UK (801701), and Europe (HE 277582).
The company ensures the security of its clients’ funds by banking with the major banks. The funds are banked separately and do not form part of the company’s balance sheet (assets). This way, the funds remain the clients’ possession under all circumstances.
Hotforex is also an industry leader that has received recognition awards.
Some of these awards are:
- Best Forex Broker Latin America 2018 by the International Business Magazine
- Top 100 Companies by the World Finance Magazine
- Best Global Forex Trading Education Provider 2018 by Global Brands Magazine
Find the details of the awards here.
ACCOUNT TYPES THAT YOU CAN OPEN WITH HOTFOREX
Like most brokers, Hotforex offers different types of accounts to accommodate varying budgets. Whatever account type you choose, you will get a Demo trading account for practice and testing purposes.
Micro account – The minimum deposit for this account type is $5. As a Forex Coach and trader, I wouldn’t advise anyone to open this particular account. No one can trade successfully with that amount of money.
Premium account – This is a perfect account to help you deep your toes out of Demo into the live markets. The minimum deposit to trade this account is $100. This account type also offers telephone trading and support.
Zero account – Hotforex does not put a markup on the spreads (transaction costs for trading) for Zero account traders. You can get started with this account for as little as $200, with an added benefit of a Personal Account Manager.
Auto account – The auto account gives you access to the free and paid signals from the MQL5 community. You will be able to select your preferred signal providers and subscribe to them for a minimum of a week. In the case of paid signals, the subscription fee will be deducted from your trading balance. Hotforex monitors the signal providers for 30 days before they make them visible to Auto account traders.
HOTFOREX TRADING PLATFORMS
Like most Forex brokers, you will be able to trade your account on the MT4 & MT5 platforms for desktops.
You will be able also to trade on their web-based platform from any device, as well as through mobile devices.
The MT4 & MT5 platforms use similar technology, although the latter has advanced features and added capabilities. On the MT5 platform, you get a built-in economic calendar, and the ability to create your own technical indicators and EAs (Expert Advisors).
DEPOSITING AND WITHDRAWAL OF FUNDS
Hotforex does not charge deposit fees, but your bank may charge the usual transaction fees. They accept wire transfers, major credit cards, Bitcoin Cash, Bitcoin by Skrill, and Neteller. Each payment method has its own minimum deposit requirements.
Regulations dictate that Forex brokers only pay withdrawals to the funding source, meaning that you can only withdraw to the same option you used for depositing. Withdrawals submitted before 1:00 AM (server time) may be processed on the same day.
I trust that this Hotforex review answers your basic questions about this forex broker. Do not hesitate to contact me for assistance in setting up an account, or forex coaching classes and guidance.
You’ve decided that Forex Trading is for you, but now you are on the service provider sourcing stage. This CM Trading review is meant to equip you in making an informed decision about this forex broker. I have used CM Trading for almost a decade, therefore do rest assured that this is not just a generic review, but also an honest assessment of how the company works.
===========>Open a free CM Trading forex account here.
Is CM Trading legit? – An honest CM Trading Review
Let’s get on with it and talk about the legal status of CM Trading.
This Forex Brokerage is a brand name of Global Capital Markets Trading Ltd. A company registered in Seychelles under registration no. 104785.
The clients’ funds are protected under the regulations of the Financial Sector Conduct Authority (FSCA), an industry watchdog for the financial services sector in South Africa. You can find the details of their registration here under FSP 38782. It is registered under Blackstone Marketing SA.
Type of trading accounts that you can open with CM Trading
Forex Trading accounts will differ according to the amount of capital you have at your disposal. Smaller accounts have different benefits when compared to larger accounts.
These are the account options that are available for CM Trading customers:
The mini account is the starter pack of the forex trading world.
Minimum deposit: $250-$999
You also get a demo trading account where you can do simulated trading in real time, weekly market reviews, as well as an e-book on forex trading basics
The minimum deposit for opening a classic account is $1000. It affords you the same benefits as the mini account, as well as access to a webinar.
This account type requires a minimum deposit of $5000 to open. The trading spread is cheaper than that of the classic and mini accounts. These are the transaction costs of the opening each trade with CM Trading (or any other broker).
A cheaper spread means that you get to maximize your profits. Over and above the benefits of the classic account, executive account holders receive access to both technical and fundamental analysis.
The premium account is the ultimate account offered by CM Trading. You need to a minimum deposit of $25000 to get started. With this account, you will get the same benefits as above, as well as additional training resources and some free trades.
In the case that you manage to grow your account to the point that it reaches the next account type bracket, you can contact CM Trading for guidance as to how to upgrade. The process is not automated.
CM TRADING’S PLATFORMS
A trader who uses CM Trading as their broker has access to 3 main platforms i.e Metatrader, Sirix Webtrader, and CM Trading’s Trading Mobile App.
- Metatrader (MT4/5) is a free downloadable software which is universally accepted by both brokers and traders as the most advanced forex trading platform. It is available on desktops and mobile devices, with real-time quotes, charts, and graphs.
- Sirix is web-based, which means that you do not need to download anything. One can access the platform through its website from any device.
- A significant feature of the Sirix platform is the COPYKAT copy trading capability. COPYKAT allows you to follow your favorite traders, and even copy their trades. Learn more about CM Trading’s COPYKAT here.
- The Fx Trading App is CM Trading’s mobile version of the web trader.
FINANCE: How to deposit and withdraw funds from CM Trading?
Like most online merchants, CM Trading accepts all major Credit Cards (and in some cases, debit cards that can buy online), wire transfers (with Nedbank being the preference for South African clients), Neteller, as well as Bitcoin (recently added).
Anti-money laundering laws oblige Forex Brokers to pay withdrawals to the funding source. You can only withdraw funds to the same account that you used for depositing. The withdrawal turnaround time is 2-3 business days. CM Trading MAY request additional documentation and verification before clearing your request.
This is a basic CM Trading Review. I hope that it has been a useful guide in your decision process. Contact me to inquire about my private forex coaching service or any other forex related query.
Economic news to watch for this week
Highlights: On the 24th of January the United Kingdom’s High Court is due to announce a ruling regarding the government’s ability to bypass parliament and initiate the Brexit by triggering Article 50, it is all happening in London at the Royal Courts of Justice. This will also have a direct impact on GBP, watch out for GBP pairs. On another news it has been said that UK Prime Minister Theresa May will fly to Washington DC to have her talks with the U.S President Donald Trump as early as Thursday. Dispite the fact that May was criticizing Trump during his campaigns in 2016, she will be one of the first leaders to hold talks with the new president. Below are the economic news to watch this week.
Be informed and know what is happening on the markets, check out our daily Forex news as they unfold and if you wish to receive daily alerts of high impact economic news, subscribe to my blog (free), to subscribe please look for “SUBSCRIBE TO MY BLOG” found on the right hand side (sidebar), enter your email address there and click SUBSCRIBE, wait for an email with a confirmation link, click on the link and confirm, email might be on spam/junk folder, and have the alerts delivered to your email daily, I value you and I promise I won’t spam.