The products and services that are provided by HotForex are all tailored to meet the specific requirements of customers. It is this kind of service that has helped the broker to gain a name for itself in this fast-changing industry. Today, HotForex is considered as a reliable broker and trustworthy.
- Winner of 20 Industry Awards
- Competitive spreads
- Flexible leverage
- Security of funds
- Multiple Platforms
- Segregated accounts
- Other than not accepting US clients, it is had to find fault in Hotforex.
HF Markets Group is the unified brand name for HotForex and is controlled by that name by various authorized bodies across the globe. In Cyprus, for example, it is regulated by CySEC (Cyprus Securities and Exchange Commission). In Mauritius, it is regulated by FSC (Financial Services Commission), and FSB (Financial Service Board) in South Africa.
All the deposits made by customers are protected against a Market Leading Insurance program and this is made as per the regulations laid down by the regulators. Furthermore, the company has ensured all its liabilities are well-protected against clients and various third parties. This has been done for a limit of €5,000,000 with a Civil Liability insurance program. This covers various conditions including omissions, errors, fraud, negligence, and other risks that may lead to a potential loss.
There is a negative balance protection in place for all customers of HotForex. This means that the interests of customers are protected even in highly volatile market conditions when stop outs and margin calls fail to function properly. What’s more, the broker has tied-up with several leading global banks for providing you security services of funds. This has been done to protect the interest of customers even if the broker has to deal with problems of its own!
Supplied by MetaQuotes, MT4 (MetaTrader 4) is the dominant trading platform HotForex uses. Given the high adoption rate of this trading platform by brokers across the globe, it is considered as an industry-standard platform these days. Even CFD and forex traders have likened MT4 platform as it offers them with lots of features and tools that are not readily available on other platforms. With these features at their disposal, traders of all kind are able to enhance their trading ability vastly.
Different versions of MT4 platforms are now available for traders. Some of these include MT4 Desktop, MT4 WebTrader, MT4 Multi Terminal, MT4 iPad Trader, MT4 iPhone Trader, MT4 Smartphone Trader, and MT4 Android Trader.
For those always on the move, HotForex has introduced Mobile Trading. The MT4 platform on which HotForex relies on so much can also be used across different mobile platforms including iOS, Android, and Windows. While the former two can be downloaded directly from the App Store and Google Play Store respectively, the latter can be downloaded from the broker’s website directly.
Trade Instruments / Types
There are different trade types available with HotForex that one can look into. Some of these include spot markets, Contract for Difference (CFDs), and futures market. Furthermore, different types of assets that get covered through HotForex include precious metals, currency pairs, crude oil, equities, indices, commodity CFDs, and cryptocurrencies.
The variety you can expect in HotForex accounts is something you’ll not find with any other broker. The distinct and competitive trading conditions that each of the trading type available with HotForex has means the traders are sure to have their demands and needs met comfortably.
For those traders that wish to start slowly, there’s a Micro account that can be opened with just $5 in the account! For this account, the maximum simultaneous outstanding order is 150 and the maximum leverage is 1:1000. For experienced traders or those who wish to trade big, there’s a Premium account available with HotForex. Here, the minimum deposit required is $500 while the maximum leverage is of 1:500.
For opening a Zero account though, you need $100. However, it comes with an unlimited outstanding order and has a maximum leverage of 1:200. The Fixed Account, on the other hand, can be used to open 300 outstanding orders at a time. Additionally, it has a leverage of 1:400. For experienced retail traders, HotForex has lined up the Currenex Account for which $500 is needed first up. For those willing to splurge on forex accounts, there’s a VIP account that needs to be funded to the tune of $20,000. Holders of this account are given the services of a personal account manager.
Novice investors can use the broker’s Auto Account to subscribe for free trading signals through the MT4 trading platform. These signals are passed on to traders free of cost from MQL5 Community. Social Account is another account type available to users that wish to interact with other traders on social media and share useful trading information and strategies. All auto-trading features are used by this account type, besides copying the trades automatically. To open this account, you need to spend $100. A Demo Account is also available to traders that wish to navigate the rough trading conditions of the forex market without spending anything on it.
Commissions and Spreads
HotForex is a leading forex services provider on the market today. It has a solid relationship with several major liquidity providers. Given this equation, it is not surprising to see the broker being able to provide competitive spreads on its trading platforms for all its users. A small commission charge of 10% is levied on stocks CFDs.
Deposits and Withdrawals
Being a leading forex trader, HotForex fully understands the need to have effective and secure transactions online. This is why it has ensured that its servers are well encrypted and kept at all times and under all conditions. Furthermore, it offers its customers a wide range of payment solutions, some of which include debit/credit cards, BitPay, UnionPay, WebMoney, Fasapay, Skrill, Neteller, Bank Wire Transfer, etc.
Besides the above options, the broker has its own prepaid MasterCard. Using this card, traders are now able to access their trading funds more efficiently than before.
The customer support features of HotForex are excellent. These services are reliable and quick. You can access the website of the broker in 27 languages. What’s more, if you have any query, you can talk to their representatives in more than a dozen languages. They’re available on call 24*7 via different communication channels including live chat, phone, Skype, and e-mail. There’s also an educational center available on the broker’s website that is filled with useful and educative training materials, daily commentary, videos, free signal alerts, and charting tools. These are extremely useful for both veterans as well as novice traders.
The amount of educational resources, materials, and tools available with HotForex is incredible. Whatever information you need, it is available through HotForex. Right from the fundamental analysis to technical analysis from industry leaders, there is so much you can collect and learn from educational resources that are available on the website. The best part about these features is that they’re made available to you regularly by the Chief Market Analyst of the broker, Janne Muta.
Another useful feature you’ll come across is the ability to chat directly with a technical analyst. In opting for these services, traders are able to understand the latest trends in the markets and use them to good effect. Traders are also provided with regular breaking news from the market so they’re able to gauge the sentiments of the market and identify the top currency movers. Traders can also use this data for analyzing volume traded per symbol. Besides all these features, HotForex also offers one-click trading, several calculators like the pivot point, Fibonacci, value, risk, reward positions, multi-targets, etc. auto trading, free VPS hosting, and many others.
HotForex has fast emerged as one of the leading brands in the online forex trading industry. The fact that this broker has been able to provide a variety of services and solutions that are ‘customer-centric’; it has been labeled as one of the most dependable and honest brokers around. Whether you’re an experienced trader or a novice, HotForex should easily be able to meet your requirements.
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