Trade Professionally With A HotForex Account For Mainstream Trading Services

 

HotForex Trading Overview

Forex trading can be a profitable investment opportunity if a trader exercises a greater amount of restraint on their trading emotions, and teams up with a reliable company that can assure them of a stable brokerage environment. It is not often that traders get to invest their money and trade the markets with a mainstream broker, but HotForex is one of the leading companies in the market that makes Forex trading easy and exciting.

 

 

HotForex is an award-winning multi-asset broker that enjoys a global presence in more than 150 countries across the globe. HotForex is mainly known for its unique approach to the markets, where both smaller retail traders and larger institutional investors get personalised accounts based on their requirements. HotForex is a high-quality broker that has accumulated great reviews from its clients, and we also highly recommend the broker’s Forex products and allied brokerage services. Read our detailed HotForex broker review to choose your preferred trading account and start investing in the markets.

 

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Broker Location & HotForex Regulation

HotForex, being a leading Forex broker in the financial markets, has based its corporate headquarters out of Cyprus, and is regulated by the Cyprus Securities and Exchanges Commission (CySEC). HotForex’s European operations are taken care of by the HF Markets (Europe) Ltd. division, which is regulated according to the regulatory standards imposed by the European Markets in Financial Instruments Derivatives (MiFID) and the European Central Bank. The HotForex regulation also brings it under the European Economic Area (EEA) agreement, which brings it under the regulatory oversight of several leading European countries such as Germany, Italy, France, Spain, and Hungary.

With its CySEC license, HotForex is a mandatory member of the Investor Compensation Fund (ICF), which is a private legal entity initiated by the CySEC for overseeing the insolvency procedures of regulated EU firms. According to the ICF guidelines, every qualified investor is eligible for up to €20,000 in compensation for unexpected closure or insolvency of a company that is a member of the CySEC. Therefore, clients from the European Union are protected by several laws, making HotForex one of the best companies in the industry to access the Forex market.

 

 

HotForex is also located in the Saint Vincent & the Grenadines as an International Business Company, which is regulated by the Financial Services Authority. The broker’s SVG location is more oriented towards offering its services to international traders, as there are several restrictions in place on EU-regulated companies while dealing with a worldwide audience. HotForex is an established brokerage with its inception dating back to 2010; however, its SVG operations under the HF Markets Limited division only recently began operations in 2015. Nevertheless, the company does stick to some of the best regulatory practices, including segregation of clients’ funds, adopting secure protocols for financial transactions, routine auditing of company financials, and other regulatory requirements as specified by its regulating authorities.

 

Tradable Assets & HotForex Leverage

Forex trading is no longer reserved to just a handful of Forex pairs or commodities. In fact, professional traders always seek to invest in new markets, including exotic financial products such as cryptocurrencies. Therefore, HotForex is ahead of the curve by offering timely access to a wide range of financial assets, chiefly from major financial markets such as Forex, metals, energies, indices, shares, commodities, cryptocurrencies, and bond CFDs. The full list of tradable assets can be found below:

Forex: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURDKK, EURGBP, EURHUF, EURJPY, EURNOK, EURNZD, EURPLN, EURRON, EURUSD, EURZAR, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, GBPZAR, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDCNH, USDCZK, USDDKK, USDHKD, USDHUF, USDJPY, USDMXN, USDNOK, USDPLN, USDRON, USDRUB, USDSEK, USDSGD, USDTRY, USDZAR, ZARJPY

Metals & Energies Futures: UKOIL.S, USOIL.S, XAGEUR, XAGUSD, XAUEUR, XAUUSD, NGAS, UKOIL, USOIL

Indices: AUS200, FRA40, GER30, JPN225, N25, SPA35, SUI20, UK100, USA100, USA30, USA500, EU50.F, FRA40.F, GER30.F, JP225.F, N25.F, SUI20.F, UK100.F, US100.F, US30.F, US500.F, USD Index

Shares: Danone, Moet Hennessy Louis Vuitton SE, Air France – KLM, Bayer AG, Daimler AG, Volkswagen AG, Adidas Salomon, DT Lufthansa, Anglo American, Barclays, British Airways, BP Plc, HSBC Holdings, Lloyds TSB Group Plc., Royal Bank Of Scotland Group Plc., Rio Tinto Group, Tesco Plc, Vodafone, Rolls-Royce, Telefonica, BBVA, Iberdrola, Mapfre, Banco Santander, Bankia SA, Amazon, APPLE, Cisco Systems, eBay, FaceBook Inc, Google, Illumina Inc, Intel, Microsoft, Qualcomm Inc., Teva Pharmaceutical, Netflix, Tesla Motors, Alcoa, ALIBABA, American Express, Bank Of America, Boeing Co, Chevron Corp, Coca Cola Inc., General Electric, Goldman Sachs, Hilton, IBM, MasterCard, McDonalds, Pfizer, Twitter

Commodities: Cocoa, Coffee, Copper, Cotton, Palladium, Platinum, Sugar

Cryptocurrencies: Bitcoin US Dollar, Bitcoin Euro, Ethereum vs Euro, Ethereum vs US Dollar, Litecoin US Dollar, Litecoin Euro, Dashcoin Bitcoin

Bonds: EURO BUND, UK Gilt, US 10YR T note

HotForex does have a comprehensive list of tradable instruments, but we were not overly enthralled with the reduced number of share CFDs, especially due to the absence of shares from major markets in Europe and the Asia-Pacific. Regular traders and even some of the more accomplished traders shouldn’t have any difficulty in investing in the markets with a HotForex account, but serious investors may feel limited with the choice of shares.

HotForex offers a high leverage for its clients, as its traders can enjoy a maximum margin of 1:1000. Trading on margin with a high leverage is indeed risky, but the ability to trade with up to 1:1000 offers an excellent choice for scalpers and short-term traders to make quick profits with a small capital outlay. Swing traders and professional investors can also use the high leverage to experiment with different money management strategies, as the broker offers a high leverage that is almost twice of what is offered by other competing companies.

 

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HotForex Minimum Deposit, Account Types

HotForex is a premium retail Forex broker that offers its brokerage platform for both retail traders, as well as professional investors. The broker has seven different brokerage accounts, each custom-tailored to suit specific trader requirements. The minimum deposit at HotForex is $5 for a Micro account, which offers a regular market maker account with micro trading conditions. The Micro account enjoys the highest leverage of 1:1000, while the HotForex spreads are also highly competitive with a minimum of 1 pip quoted on the major currency pairs. However, European traders will have to make a minimum investment of $50 for the same Micro account, which is a bit steep when compared to other similar account options in the market.

 

The Premium account is more oriented towards traders looking for Standard trading conditions without the high risks involved in the Micro account. The Premium account is slightly more expensive, which stands at a minimum deposit requirement of $500 and a lowered leverage of 1:400. The spread for the Premium account is also significantly better than the average spreads in the market for a market maker account, where the broker quotes a 1-pip minimum spread for most currency pairs.

 

If you are more concerned about the risk of a market maker account and the higher spreads, then the Zero account with a zero-pip spread guarantee is available for a minimum investment of just $100. The Zero account is indeed an attractive option for professional traders, which charges around $4 commission per single side lot trading. The trading conditions are also relatively stable, as traders only get access to a maximum leverage of 1:200 and direct market liquidity.

The next account category is the Fixed account that promotes fixed spread trading among traders, where traders are charged a fixed spread per trade, without the inconsistencies that surround variable spreads. The Fixed spread account has all the properties of the Premium account, but the only difference is that traders receive a fixed spread trading environment during most market conditions.

 

 

Traders are also given access to automated trading and PAMM account options for investment-oriented accounts. The Auto account is reserved for the use of EAs and automated trading strategies, which is built around the Premium account, but with an option to add EA. The PAMM account is available for a minimum investment of $250, which not only grants access to investors but also provides a platform for traders to utilise their successful trading strategies to trade with other investors’ funds.

All deposits, bonuses, and investments are moved into secure and segregated accounts at top banks in the world, which are inherently separate from the broker’s core operating bank accounts. HotForex has multiple payment options for deposits and withdrawals that include Visa, MasterCard, UnionPay, Skrill, Neteller, Bank wire transfer, WebMoney, and fasapay. The broker does not charge any fees for financial transactions and is also known to honour its clients’ withdrawals without any major concerns.

 

HotForex Bonus & VIP Program

HotForex’s operations are divided into two divisions, the international group, and the European base of operations. The international brokerage is regulated by the SVG FSA, which is free to offer bonuses without any limitations. The broker is currently offering up to 100% in credit bonus to its international traders, which is one of the best bonuses in the market for Forex and CFD traders.

 

 

On the other hand, HotForex EU does not offer any bonus on deposits. The company is bound by EU and CySEC laws that explicitly prohibit free money on deposits. Therefore, the broker has adopted other attractive promotional campaigns such as trading competitions, cash draws, rebates, and electronic gifts, in order to keep its traders interested and motivated.

HotForex also has a VIP program for larger investors, which offers Zero (STP/ECN) trading with some of the best trading conditions. The VIP account has a relatively modest investment/deposit requirement of $20,000, for which traders get access to direct market access trading, zero pip spread, $6 commissions round-turn, a personal account manager, and one-to-one consultations. The VIP account is highly suitable for larger traders and is indeed a great account option when compared to the competition.

 

HotForex Platforms

HotForex grabs traders’ attention by promising to offer up to eight different trading platforms, which is certainly a lot of options for trading the FX and CFD market. However, there is no reason to be overwhelmed, as the broker has simply broken down its choices for different platforms and devices. The broker primarily concentrates on improving its brokerage service, and hence, has opted to provide the MetaTrader4 as its primary trading platform. The MT4 is a standalone third-party trading platform that offers the best trading platform in the market and has quite recently received an update that allows it to offer access to other financial markets such as shares, indices, and cryptocurrencies.

HotForex desktop users can take advantage of the installable MT4 platform for Windows and Mac OS, or use the MT4 WebTerminal for trading through a web browser. MetaTrader4 is also available as a MultiTerminal for managing multiple trading accounts, along with a HotForex FIX/API for seasoned traders who require more control over their trading. Overall, the choice of platforms is more concentrated around the MT4 platform, which is one of the most advanced platforms in the market that receives constant updates for a great trading experience.

 

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HotForex Mobile Trading Platforms

The MT4 is instantly available for Android and iOS devices, which offer a seamless trading experience through smartphones and tablets. HotForex has also catered to Windows mobile users by offering a dedicated MT4 platform for Windows mobile, thereby ensuring that the entire smartphone market is covered. Although there aren’t any proprietary HotForex apps for any mobile platforms, the broker has individually mentioned its compatibility with iPhone, iPad, Android, and Windows-enabled devices, which is the main reason why the broker was able to advertise its ability to offer eight different platforms.

 

HotForex Customer Support

HotForex has a global presence with more than 150 employees situated in different offices around the world. The broker has a remarkable European presence, where all traders from EU receive professional and personalised support through the broker’s corporate headquarters in Cyprus. International traders, on the contrary, gets access to the broker’s global team of customer support representatives, which displays the same levels of professionalism and friendliness as adopted by the European division.

HotForex employs a 24 hours live chat team for any clients’ concerns, but more pressing concerns can be addressed through email and phone. HotForex is an international financial company that adopts the best customer service policies, which ensures that traders can enjoy the best of services and customer satisfaction for their investments.

 

HotForex Trading Resources

 

HotForex is consistent in its services and is committed to adding new trading tools and resources to aid its traders. The company offers an excellent education platform that is full of e-books, video tutorials, and other vital information that is inherently useful for retail traders. The broker also invests in other popular online trading tools such as AutoChartist, VPS, News, and even Market analysis, all of which combine to provide one of the most useful tools available for analysing the financial markets.

 

 HotForex Verdict

Pros

  • A European broker regulated by the CySEC and an international presence from the SVG.
  • Micro accounts are available from $5.
  • High leverage of 1:1000.
  • Safe and secure financial transactions with several payment methods.
  • Competitive spreads and commissions.
  • Excellent customer service.
  • MT4 app for desktop and mobile trading

Cons

  • The bonus is not available for international traders.
  • The trading conditions are different for traders from the EU.
  • Does not accept traders from the US, Canada, Belgium, and Japan.

 

FAQ

What Is The Primary HotForex Mobile App?

HotForex offers the MT4 trading terminal for both desktop and mobile trading. Mobile users can download the MT4 app for iOS, Android, and Windows devices.

 

Does HotForex Offer An ECN/STP Account?

Yes, HotForex offers a Direct Market Access trading account in the form of the Zero Account.

 

What Is The Minimum Deposit For A PAMM Account?

The minimum deposit for a PAMM account is $250. VIP account requires a higher investment of $20,000.

 

Does HotForex support EA Trading?

Yes, HotForex offers a dedicated Auto account to support trading with Expert Advisors and other automated trading programs that are compatible with MT4.

 

Summary

HotForex is a mainstream Forex and CFD broker with some of the best trading accounts and incredibly attractive brokerage conditions in the market. HotForex has two different trading entities, one suited for the European markets, while the other is tailored for international traders. HotForex does not accept traders from countries such as the US, Canada, Belgium, and Japan.

 

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