HotForex Review

$50MIN. DEPOSIT
Up to 1,000:1
Up to 100%
NO DEP. BONUS
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HotForex
Up to 100%
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Overview

Company Information An award-winning commodities and forex brokerage house, HotForex is truly devoted to offering facilities and trading services to institutional and retail customers. It is granting both traders and… more

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Details

BrokerHotForex
Website URLhttps://www.hotforex.com/
Founded2010
HeadquartersLarnaca, Cyprus
Support Number+357-24-400561
Support Emailsupport@hotforex.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Chinese, Taiwanese, Thai, Bengali, Portuguese, Greek, Russian, Arabic, Malay, Tagalog, Hungarian, Czech, Romanian, Italian, Polish, Slovak, French, Bulgarian, Spanish, German, Vietnamese, Korean
Minimum 1st Deposit$50
Minimum Trade Amount0.01 lots
Maximum Trade Amount5 lots
BonusUp to 100%
PayoutUp to 1,000:1
Free Demo AccountYes
Regulated Yes
RegulationCyprus Securities and Exchange Commission (CySEC); Markets of Financial Instruments Directive (MiFID)
Account TypesMicro, Premium, Zero, Currenex, Fixed, VIP, Auto, HF Social
Deposit MethodsVISA, VISA Electron, Maestro, MasterCard, Skrill, China UnionPay, iDeal, American Express, Neteller, Western Union, Bank Wire, Sofort, TrustPay
Withdrawal MethodsVisa, Visa Electron, Maestro, MasterCard, Skrill, China UnionPay, iDeal, American Express, Neteller, Western Union, Bank Wire, Sofort
Types of AssetsForex. Metals, Energies, Indices, Shares, Commodity CFDs
Account CurrencyUSD, EUR
ECN Broker Yes
Scalping Allowed Yes
Managed Yes
Lowspread Yes
Forex Demo Contests Yes
Forex Live Contests No
US Traders Allowed No

Full Review

Company Information

An award-winning commodities and forex brokerage house, HotForex is truly devoted to offering facilities and trading services to institutional and retail customers. It is granting both traders and scalpers that use expert advisors an unhindered access to its liquidity and providing the most top-notch trading conditions that made the company outstrip many other brokers on a global scale.

The company is equipped with a diverse set of account types, tools to ease institutional clients and individuals to trade CFDs and forex on the web, as well as trading software. The chef d’œuvre trading platforms that are also automated give Retail, White Label or Affiliates clients the chance to access liquidity and interbank spreads.

The forex enterprise punches above its rivals’ heavy weight by providing an unmatched range of account options through which users can enjoy a bespoke trading atmosphere and addresses even their most fastidious needs perfectly. Accompanied by supersonic execution speeds and superb trading conditions, HotForex delivers the whole package of services and tools required for customers of any level to live up to their trading goals.

HotForex abides by the stringent stipulations of EU’s CySEC and MiFID and clients will enjoy an excellent good night sleep by knowing that the company is also a part of the Investor Compensation Fund.

 

Trading Information

HotForex is the absolute leader when it comes to the range of trading accounts it offers. Next to a demonstration account, ideal for novice investors, and an Islamic account, tailored to meet the strict Sharia regulations, there are also a Micro, a Premium, a Zero, a VIP, a Currenex, a Fixed, and an Auto account.

The Micro account is characterised by a $50 minimum deposit, spreads from 1 pips, a maximum leverage of 1,000:1, and 150 max simultaneous orders that can be opened.

The Premium account’s maximum leverage is 400:1 while its minimum deposit is $500. The account’s spreads are from 1 pips, and the max number of simultaneous open orders is 300.

The Zero’s account features are spreads from 0 pips, 500 max simultaneous open orders (60 standard lots per position), a max leverage of 200:1, and a min deposit of $100.

Currenex’s max leverage and minimum deposit are 400:1 and $500, while the spreads are from 0.2 pips and the max simultaneous orders that can be opened are 350.

The Fixed account is defined by a maximum of 300 simultaneous orders, fixed forex spreads, a minimum deposit of $500, and a max leverage of 400:1.

The Auto account’s features are a max leverage of 400:1, spreads from 1 pips, a maximum of 300 simultaneous open orders, and a minimum deposit amounting to $500.

The minimum deposit for a VIP account is to the tune of $20,000. This account’s max leverage is just 300:1, the maximum number of simultaneous open orders is 400, and the spreads are from 0.2 pips.

The execution of all accounts is Market and with the exception of the Fixed account whose spread is fixed, all other accounts have variable spreads.

 

HotForex Trading platforms

HotForex’s trading platforms are seven (7), including the HotForex MT4 Terminal, the Multiterminal, the Webterminal, and four mobile platforms for Windows phones, Android phones, as well as platforms for iPhone and iPad.

Utilising the most famed front-end app in the forex niche – MT4 – HotForex has taken it to introduce its liquidity and craft a platform with a cutting-edge interface with rapid execution and interbank liquidity. Some of HotForex’s MT4 benefits comprise of multiple charting and analysis, a facility for trailing stop loss, a daily account statement, the ability to overlay analytical studies, pre-programmed tools for analysis, allowed expert advisors, and customer account summary in real time.

The Multiterminal of HotForex permits the simultaneous using of multiple accounts from a single interface. The features of this platform include execution of multiple order types, a support for an unlimited number of investor accounts, a trading activity management in real time, a viewable history of trading, and a live price feed monitoring.

The Webterminal of HotForex necessitates no downloads whatsoever – any operating system and browser will do the forex magic. One-click trading, 9 chart timeframes, 3 type price charts (lines, candles, and bars), and an amazing array of analytical objects and tools are some of its benefits.

Should you be a fan of mobile trading, you can derive advantage from an iPad, an iPhone, a Windows phone or an Android device.

 

Security and Customer Services

HotForex has taken extraordinary measures to safeguard a secure trading environment for all its clients so that they can focus on their trade deals. The firm believes that a better focus will bring about higher profitability.

Next to being sternly overseen by CySEC and adhering to MiFID, the company also makes sipping of beer after a hard day an even more pleasant event when customers know their cash is segregated and is resting in top tier banks, including Barclays U.K. and BNP Paribas.

For the utmost comfort of investors, the corporation has gathered an excellent support centre that unites professionalism with attentiveness and is reachable via several fixed lines, e-mails, and a contact form.

HotForex’s website is accessible in many languages, comprising of English, Chinese, Taiwanese, Thai, Indonesian, Bengali, Portuguese, Greek, Russian, Arabic, Malay, Tagalog, Turkish, Hungarian, Czech, Romanian, Italian, Polish, Slovak, French, Bulgarian, Spanish, German, Vietnamese, and Korean.

 

Deposits and Withdrawals of HotForex

A number of deposit options are accessible at HotForex’s website. These are Wire Transfers, VISA, VISA Electron, an HF MasterCard, American Express, MasterCard, Maestro, WebMoney, Skrill, Sofort, iDeal, Qiwi, TrustPay, Przelewy24, and NETELLER. No deposit fees are applied by the forex enterprise.

WebMoney, iDeal, Przelewy24, and TrustPay are instantaneous. Qiwi, Skrill, NETELLER, and all credit card options need 10 minutes. Sofort Banking, depending on the country, necessitates 1-2 days and Wire Transfers are processed in 2-7 working days.

Withdrawals can be executed via Wire Transfers and the same credit cards as for depositing. The processing time of these methods is between 2 and 10 business days. Withdrawals can be done via an HF MasterCard, Skrill, and NETELLER and there is a zero processing time for these. Only Wire Transfers go along with a fee contingent upon the corresponding bank.

 

Deposit Bonus and Loyalty Programmes from HotForex

Even demo account holders may derive great benefits from HotForex as it offers demo forex contests that last 1 month and whose prizes are $2,000, $1,000, and $500 respectively for the 1st, 2nd, and 3rd place.

Referring a friend is another way to obtain additional money whose amount increases with the deposit your friend initiates (between $60 and $200).

Another way of acquiring more cash is the Trading Rebate programme which amounts to $2 per lot on a daily basis. Bear in mind that the max cumulative rebates are $8,000 and they are placed directly into your account.

 

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