HotForex offers a new type of experience by offering traders the opportunity of trading via numerous trading platforms and trading accounts. You may trade with this broker in a number of exotic languages, which are not commonly available with other brokers at the moment. If you like pure ECN trading or are an MT4 fan, read the following informative review now.
- Name : HotForex
- Website : www.hotforex.com
- Founded in : 2010
- Headquarters : Port Louis, Mauritius
- The Owner : HF Markets Ltd.
- Regulation : FSC & CySEC
- Phone : +44 20 3318 5978
- Email : firstname.lastname@example.org
- Minimum Lot Size : 1,000
- Maximum Leverage : 1:1000
- Minimum Deposit : $5
- Minimum Trade Amount : $5
- Maximum Per Trade : N/A
- Languages Available: English, French, Chinese (Traditional), Chinese (Simplified), Russian, Spanish, Greek, Arabic, Farsi, Indonesian, Malay, Bengali, Bulgarian, Thai, Portuguese, Italian, Polish, Vietnamese, German, Korean, Slovak, Czech
The HotForex MetaTrader 4 trading platform offers traders the following benefits: multilingual trading platform, daily account statement, platform news feed, easy to use interface, analysis and charting tools, expert advisors and real time account summary.
The trading platform may be downloaded directly to your desktop, or you can access the smartphone version if you are on the go. The Hot WebTrader is available for those who would rather trade in a web-based trading environment. The multitude of trading platforms allows all types of traders to enjoy their experience
Upon entering the HotForex website you will see the Rescue Bonus and Withdrawal Bonus. These are worth looking into if you want to maximize your trading experience while trading on the financial markets.
You have many different trading accounts to choose from. The Micro account enables beginners to become customers with just $5. The Premium account is accessible with a reasonable trading size of $500. The VIP account is available for traders with a high net worth of $40,000 or more, and who want VIP service while trading the markets. Islamic customers of HotForex can open Islamic accounts and trade in a swap free trading environment. You will want to open a Currenex account for just $500 to gain access to the forex market. Alternatively, money manager can open PAMM accounts to trade on behalf of their clients.
This broker offers an array of features to forex traders such as trading tools, education and detailed info about the trading conditions. These are available throughout the website, something which most other brokers do not offer. The features which caught our attention most were the pip calculator, Fibonacci calculator, ecourse, video tutorials and the blog.
HotForex account types
HotForex provides 5 different types of accounts to meet your needs-
Micro Account (Minimum $25): Designed for professionals new to Forex and those trading lesser amounts, the HotForex Micro account allows people to start a no cost account with a lower initial investment.
Standard Account (Minimum $500): This is better for skilled trading professionals. There is a minimum trade size 0.1 and the trade increment is flexible at 0.01. The Standard account uses the MetaTrader 4 terminal.
Volume Account (Minimum $50,000): The HotForex volume account is for those professionals trading with a least amount size 2.0. The benefits increase with the more amounts transacted and can be asked for on demand.
Islamic Account (Minimum $25): The Islamic Account benefits the skilled professionals. There is least amount business size 0.1 and the trade increment is still versatile at 0.01. The Islamic account uses the MetaTrader 4.
Currenex Account (Minimum $500): The Currenex account benefits the skilled full cost professionals. A key function is no highest possible business size or start position size. There is a minimum trade size 0.1 and the trade incrment is still versatile at 0.01. The Currenex uses the MetaTrader 4.
Withdrawals and Deposits at HotForex
HotForex provides different types of payment options. The smallest deposit is $25. Bank transfer, AlertPay, Visa, WebMoney, China UnionPay, PerfectMoney and Neteller are all accepted.
Money can be withdrawn anytime easily. All payments are confirmed and released within 24 hours of request which is a main advantage of HotForex.
You may contact the HotForex customer support team through a variety of languages and international support numbers. You may also send your email inquiries to the required email address on the website. It did take some time for the team to answer our phone calls. However, the emails were replied to within 30 minutes, a considerably quick response time.
We spoke to the chat team in both English and Arabic, and are happy to say that the quality of the support was the best we’ve received in a long time.
To recap, the main advantages of dealing with Hotforex include:
- Can trade in small volume
- Comprehensive Customer support
- High Bonuses
- High Leverage of 1:1000
- Low minimum deposit to open a trading account ($5)
- Low spreads starting from 0.2 pips
- Multiple choices of trading platforms
- Wide varieties of trading instruments
Considering what has been offered by Hotforex, it is difficult to find fault with them. When we compare Hotforex with other forex brokers, it’s hard to find another that come close to the advantages which Hotforex are offering their clients.
The registration process is much simpler than with most brokers out there. Select which account you prefer from the registration page in the dropdown menu. The questions we needed to answer were to the point. To open a trading account, you are required to send personal identification documents.
A great feature of this broker is that the trading platforms are available in multiple languages. In spite of this, you may only make deposits in USD or EUR. You may deposit funds via the leading methods: credit card, PerfectMoney and wire transfer. However, PayPal and other easily accessible methods are unavailable.
For any issues we had, whether it was account funding, trading or opening a trading account, the support team came to the rescue. We found this to be a crucial feature when it comes to trade with your personal funds.
HotForex is one of the most accessible trading platforms for beginners and advanced traders. You have a wide choice of assets to trade from on the MetaTrader 4 trading platform. The Currenex trading account enables you to trade ECN with a smooth style. If all this sounds appealing, you may want to take a deeper look into what HotForex has to offer.