HotForex

One of the best names in the market of forex where clients are stratified and the trading conditions is matching the expectations of the traders. HotForex is indeed a hot name if the forex and CFDs market and the following information in this Hotforex review will show exactly how this great name came to life.

HotForex is keen to provide its clients with the best trading experience and so the variety of unmatched account types along with trading conditions that match all needs of different traders with different styles, are only found in HotForex.

Aiming at providing the clients with fast and efficient service along with respect, honesty and transparency and to offer the clients a constant improvement in the products and services it provides as well as taking responsibility for their actions, HotForex is showing extreme commitment to their clients.

The broker is also carrying the social responsibility not only in one country but many, as one of the values for HotForex is they feel their participation in not only helping the clients in particular but helping the public in general. And so it takes part in donations for the WHO towards the covid pandemic along with donations to stop fires in the amazon rainforest, the broker also supports Australia’s bushfire crisis, and so much more examples.

HotForex makes sure to have the needs f their clients met so trading conditions here are quite remarkable. With flexible leverage that can reach 1:1000 with 24/5 customer support ready and willing to help not only in one or two languages but the support is provided in more than 27 languages.

Smart trading options where forex, indices, and commodities are available for trade. 4 different types of bonuses are already implemented with ongoing promotions and continuous offers for new and existing clients.

HotForex is presenting 18 trading tools. free educational and live expert webinars along with 6 account types with options for a demo and Islamic swap free account. MT4 and MT5 are offered for trading on all devices.

For example; one of the most notable awards they have received is that: they were shown among the top 100 companies by World Finance Magazine which is a highly respected magazine.

The official website of the broker is serving 27 languages. The official website has about 1 million visitors per month. Moreover, these visitors are from many different places in the world. Therefore, HotForex has preferred to be licensed by a wide variety of regulators in terms of regulation and licensing. You should have as many licenses as possible to serve such a wide geographical area.

As the customer base is quite different from other countries, HotForex has adopted a service concept that will satisfy everybody. So, as well as having a large number of licenses, the account types offered are quite diverse. There are also a wide variety of methods of depositing and withdrawing money.

After reading this information, is HotForex a reliable broker or a scam? Let’s look at it together. In addition, you can find important information in this HotForex review, such as the account types offered by HotForex and their spreads, minimum deposit, and maximum leverage. Thus you will see are advantages and disadvantages of Hotforex, compared to other brokers.

This is the first and foremost issue to check before starting to trade with any forex broker. And so, in this section of this Hotforex review, I’ll explain all the details and all the information you need to know about regulations and what Hotforex implement to keep the security of their client’s funds.

There are many licenses obtained by the broker which only shows the level of trust and responsibility the broker is offering to their clients all over the globe.

HotForex is having a license to trade and carry out their client service from the following countries:

• HF Markets (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA).

• HF Markets (SV) Ltd was incorporated in St. Vincent & the Grenadine as an International Business Company.
• HF Markets (DIFC) Ltd is authorized and regulated by the Dubai Financial Services Authority (DFSA).
• HF Markets SA (PTY) Ltd is an authorized Financial Service Provider from the Financial Sector Conduct Authority (FSCA) in South Africa.
• HF Markets (Seychelles) Ltd is regulated by the Seychelles Financial Services Authority (FSA)

The broker is maintaining a few of the best licenses in the markets within the big countries around the world. So for example FCA regulated forex brokers are under a guarantee of up to £50,000 by the Financial Services Compensation Scheme (FSCS). Which provides security and trustworthiness for the broker with the clients. and so the traders would invest knowing their funds are protected and

In addition, the company is licensed by the regulators of countries such as Seychelles, South Africa, as preferred by many large forex brokers. Because these licenses are very important to offer this service and account to investors who demand very high leverage. It is a very difficult process for a broker to acquire a license from these regulators.

The fact that HotForex is providing a great variety of account types that matches all different trading styles, has made it a big popular name in the forex market. Throughout this part of this Hotforex review, I’ll make sure you have all the details covered of all you need to know about the account types and the trading conditions inserted into each account along with leverage, spreads and minimum deposit amounts.

There are 6 different accounts with great flexibility in the conditions of the accounts, all clients from beginners to experts would have an account to match their needs.

The Micro account

The Hotforex minimum deposit for the micro account is $5 which is a very convenient amount to start trading with. The maximum leverage offered on this account is 1:1000 which also represents a high amount of leverage that can be useful for expert traders. The spreads here are of variable nature and they range from 1 pip where the maximum number of open orders on the micro account is 150. Market Execution is offered as an advantage on the Micro account as well as 7 standard lots are allowed as the maximum traded size. No commission is applied on the Micro account type, Besides, the USD, EUR, NGN, and JPY are available as the account currency to be used.

The Premium account

Where the Hotforex minimum deposit of this account type is $5 where maximum leverage of 1:500 applies to trades. The spreads are also of variable nature and they range from 1 pip. However, the maximum number of open orders that are allowed on the premium account here is different from the micro account, as here it can be 300 open orders at once. Market Execution is also offered on the Premium account where you can have 60 standard lots per position as the maximum tradeable lots. The following currencies are the ones allowed for trading on the premium account: USD, EUR, NGN, and JPY. Commissions are not applied to forex pairs when trading with the premium account.

The Zero Spread account

A higher Hotforex minimum deposit is applied here $200 where a maximum leverage of 1:500 is offered. A variable spread type is offered where 0 pips is the spread amount taking place and the maximum open orders that are allowed are 500 with 60 standard lots per position. The zero spread account is offering a market execution option as well with 60 standard lots offered as the maximum number of lots to be traded on this account type. The currencies USD, EUR, NGN, and JPY are the allowed currencies for trade on the Zero spread account. There is a commission applied on forex pairs here too.

The PAMM (Premium) account

Here the Hotforex minimum deposit is $250 whereas the maximum offered leverage is 1:300 which is the least amount of maximum leverage offered on any of the accounts. The spreads are variable and range from 1 pip. The maximum number of open orders allowed is 500. The account currency allowed here is USD.

The HFCOPY account

This account type allows you to copy trades from professional traders, the Hotforex minimum deposit here differs based on your role in the copy trade process. If you’re the strategy provider, the Hotforex minimum deposit would be $500 and if you were the follower of the strategy provider, then you would be entitled to $100 as the Hotforex minimum deposit to start your HFCOPY account. The maximum leverage offered here is 1:400, where spreads are 1 pip and you’d be allowed 300 open orders on the account. The account currency that can be used is USD only.

The Cent account

A Hotforex minimum deposit of $5 is offered here where you get to have a maximum leverage offered of 1:1000 and a variable type of spreads are also applied where they can start from 1 pip range. Yet the maximum open orders that are allowed for you when trading in the Cent account are only 150 open orders. 200-cent lots are allowed as the maximum lots to be traded. Whereas the account currency is USD and JPY.

The Islamic account

The option for an Islamic account is also available where no swaps are offered in the sell or buy operations and are also available for clients with Islamic beliefs which allows for no swaps to be applied on the buy or the sell transactions which is suitable for traders from Islamic countries too. MT4 is offered for the Islamic account on different devices along with Webtrader and mobile trading. The spreads in the Islamic account start from 1 pip and all trading instruments are avowable here. USD and EUR are the account currencies available.

Micro, Premium, Cent and Zero Spread accounts are available in swap-free Islamic accounts.

A request needs to be made in order to open an Islamic account with the broker or via customer service and the broker will review the information and they hold the right to accept or reject the request.

A demo account option is also available within Hotforex where new clients get to try out the broker with all their offered conditions and the trading platforms present also expert traders tend to use a demo account to try out new trading strategies or test out knowledge and learnings.

Here in this part of this Hotforex review, I’ll break down in detail all you need to know about the deposit and withdrawal channels you can use to fund your real account with Hotforex however and whenever you want. Read this section on funding methods to know more about deposit and withdrawal means, Processing time and the minimum and maximum amounts of deposits and withdrawals.

HotForex offers a wide variety of deposit and withdrawal methods, that range from bank transfers, credit and debit cards and e-wallet options that include Fasapay, Neteller, Skrill, Bitpay and PayRedeem.

All the provided methods of deposit and withdrawal are very fast and take around 10 minutes to process. However, bank wire transfers may take up to 2-7 business days as its more connected to the rules and regulations of the banks not HotForex terms in any way.

All withdrawal means are free from any withdrawal charges.

HotForex doesn’t apply any fees on the deposit and withdrawal transactions and so it allows the client to deposit and withdraw with ease in whatever way they find best suitable.

HotForex is offering the best and most famous and trusted platforms in the market presented from Metaquotes which are the MT4 and MT5. And through this area of this Hotforex review, you can see all the information you need to know to compare both trading platforms in addition to being able to decide which trading platform is suitable for you.

Both MT4 and MT5 are having the analytical tools and technical indicators to provide a well-rounded trading experience.

MT4 is the most known and used platform in the forex market as it provides 21 timeframes with 38 technical indicators, 44 analytical objects, and 6 types of pending orders.

While, on the other hand, MT5 is the upgraded version of MT4. You can use MT5 to trade using demo accounts which is an option provided by HotForex.

HotForex also provides the HFM app which you can download easily on your android or IOS as it can be used on the MT5 platforms providing fast market execution and multithreaded strategy tester.

HotForex has made sure to take advantage of the best features of each platform to provide the perfect trading environment since MetaTrader 4, MetaTrader 5 and the HFM Platform are high-powered trading platforms that allow traders access to the financial markets with ease.

From forex, metals, energies, shares, indices, bonds, commodities, DMA stocks, ETFs and Cryptocurrencies, HotForex is making sure to provide as many trading instruments to its clients as they would wish to have as it provides diversity in trading and hence a better profit and a better investment experience. And as it should come naturally to you by now that I’ll explain all you need to know about the trading instruments that you can add to your trading portfolio through this part of the Hotforex review.

Forex trading within HotForex consists of 50+of currency pairs including major minor and exotic pairs as well. Tight spreads take place and leverage up to 1:1000. 18 trading tools and 24/5 specialized customer support.

The metals supplied are gold, silver, platinum and palladium. While some of trading Gold and Metals include their intrinsic value, low transaction cost and international liquidity.

Energies trading with HotForex contains low margin requirements with fast execution, low spreads, and risk management tools all to monitor and make sure your trading is safe. UK Brent Oil and USA Crude Oil are examples of the energies available.

The indices offered to allow the trader to explore their opportunities in the stock market. Access to global indices including USA500 and UK100, Competitive spreads and low margin requirements, and Automated trading with MT4 & MT5 platforms are all available.

You can also trade the shares of the most well-known and best-performing companies all over the world including Apple, Alibaba, Amazon, and more.

Copper, Cotton, Sugar, Cocoa, and Coffee are examples of commodities that can be traded with HotForex where Negative balance protection and Low margin requirements.

World’s most popular bonds are present as trade derivatives where there is no commission on trades and fast order execution with competitive spreads. These Bonds include UK and US government bonds like Euro Bund, UK Gilt and US 10-year Treasury Note.

Direct Market Access (DMA) stocks are where you can place your order to trade with the world’s stock exchange for counties around the globe.

Known for its various account types and the many trading instruments, HotForex is also famous for its great bonuses and promotions offered periodically and other fixed bonuses that are available all the time. And vis this area of this Hotforex review, I’ll dedicate my efforts to explain to you in a simple but detailed manner the different types of promotions offered by Hotforex to the real accounts traders.

There are 4 types of bonuses offered by HotForex and they include

50% Welcome Bonus: added automatically to your account when you deposit $50 which increases your balance by 50%. Available on MT4 and Micro Accounts.

100% super Charged Bonus: This bonus applies to every deposit of $250 and more that you make. Where you can earn daily cash rebates of $2 per lot directly to your account. You might think you will need to calculate the bonus for it to be added, yet it’s nothing like that at all. The bonus is calculated and added automatically and the cash can be traded or withdrawn.

30% Rescue Bonus: This kind of bonus is applied automatically over deposits of more than $50. The bonus increases the leverage of the account where the maximum cumulative bonus here is $7000. This bonus is having additional Stop Out Bonus as it also protects from the period of drawdown. You can’t withdraw this bonus.

100% Credit Bonus: Where this bonus can be withdrawn if volume requirements are met. The bonus effectively makes the stop-out level on the cash balance zero. And it also increases the account leverage.

There are various advantages to discuss when it comes to Hotforex and through this area of the Hotforex review, I’ll show you one more advantage to consider obtaining with trading with Hotforex and having a real account with them, or even a demo account since both types of account holders would have the right to benefit from the wide range of the educational materials offered at the platform of Hotforex.

HotForex offers many educational materials to its current and new clients in all different formats like Forex Education Videos where leading industry experts design and deliver the material. They provide a breakdown of the fundamental concepts of the forex industry to teach you everything required to be a forex trader.

In addition to training courses to explain basic terms, beginners courses, trading tools definitions, Metatrader tutorials, trading strategies and CFDs and stocks and way more including even e-books.

How-to videos and free webinars are available which are designed to improve your FX knowledge and help you hone your trading skills to give you the confidence you need to trade the markets. Whether you are a beginner or an experienced trader, HotForex’s seasoned market analysts will guide you through key forex strategies and concepts.

HotForex is a licensed broker from multiple regulators around the world where it holds FCA, SV, DEFSA, FSCA and FSA regulations. The broker is making sure to provide segregated accounts and to carry the minimum funds required to cover the clients’ losses in case of a financial crisis like bankruptcy which all are requirements needed to obtain and maintain the licenses from all these different and trusted regulators.

As seen earlier through the different sections that I broke down in this Hotforex review, Hotforex is also having a great variety of account types, with 6 account types offered to the traders with all different conditions to match all traders’ strategies and needs. Maximum leverage is 1:1000 and the spreads are low and convenient.

The options for Islamic accounts and demo accounts are also presented to the clients where the application for them is a mouse click away.

The best trading platforms are available where MT4 and MT5 are presented with multiple trading tools and trading instruments to choose the ones each trader is interested in. This Hotforex review also explained more details when it comes to the promotions and offers presented by Hotforex, with 4 different types of bonuses to allow traders to increase their funds and hence increase their profits.

HotForex

• 1Regulation
• 2Account Types and Spreads
• 3Payment Methods
• 4Platforms
• 5Trading Instruments
• 6Bonus and Promotions
• 7Education
• 8Conclusion

8.5/ 10

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