HotForex Review

hotforex review

Welcome to Our Best Forex Broker Review Website. Today we are doing HotForex Review. In this article, we will highlight all those aspects which need to know about this broker, including what it is, trading channels, trading funds, assets/markets, deposit and withdrawal processes, approved countries, customer care, pros and cons, and the final conclusion. So, before you trade with this broker, make sure you finish reading this post.

Let’s get started!

What is HotForex?

HotForex is a brand name that refers to a group of businesses that operate in various jurisdictions. HF Markets (Europe) Ltd., a Cyprus Investment Firm (CIF) listed with the European Union and authorized by the Cyprus Securities and Exchange Commission, is the most trustworthy (CySEC).

The broker is also licensed by the Financial Conduct Authority (FCA) of the United Kingdom, the South African regulator, and the Dubai Financial Services Authority (DFSA). The HF Markets group also has two overseas subsidiaries: HF Markets Ltd., based in Mauritius, and HF Markets (SV) Ltd., based in St. Vincent and the Grenadines.

The cost of a HotForex account varies greatly depending on the account form. You can choose from six different account forms. HotForex’s pricing is at most somewhat higher than the industry norm, but it also lags behind low-cost leaders.

Let’s dive into the details of HotForex Review!

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HotForex: Trading Platforms

In this section of HotForex Review, we will disclose the trading platforms offered by this broker. As a trading platform, HotForex uses the widely known MetaTrader 4 platform. The software can be downloaded to a computer or accessed using the MT4 web-trader platform. Mobile apps for MT4 are now available for Apple and Android smart devices.

The platforms have all of the instruments and features that a skilled trader requires to be effective. For example, the MT4 trading platform allows for numerous market orders, a powerful charting kit, and a variety of technical indicators. Expert advisors can also help in automated trading.

HotForex also added a recent and improved version of MT5, which includes cutting-edge features such as hedging options, while MT4 is much less mature and more tailored to newcomers to the markets.

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MT4 & 5 Terminal

The MT4 and MT5 trading sites are available at Hot Forex. The MT4 terminal is used by the majority of experienced traders. Any of your trading transactions, pending orders, trading account history, cash operations, total balance, equity, and margin can be managed and monitored using the Terminal module of the MT4 platform.

MT4 & 5 WebTrader

The Web Trader from MT4 is available from HotForex. Traders will use the Web Trader on any browser by simply launching it and signing in with their account details, then placing trades with a single click. Traders can track their trading behavior and interpret it with the help of sophisticated analytical software and maps.

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Mobile App and MacOS

Trading on the iPhone, iPad, and Android MT4 platforms is supported by HotForex. The convenience of these sites is that trades can be executed with a single click, allowing you to trade on the go. It is also very helpful because it allows you to run multiple trading operations such as reporting, access to trading records, real-time charts, dynamic tracking of account data, and so on.

HotForex: Trading Accounts

This part of HotForex Review will cover all the trading accounts option available to users. HotForex provides its customers with a variety of account styles to accommodate a variety of trading strategies. Each area has various account categories based on regulatory requirements.

HotForex, for example, only sells its Micro, Premium, and Zero Spread products in Europe and the United Kingdom.

Micro Account

  • The Micro Account requires the smallest deposit and has all of the features of our other account types, as well as access to all of HotForex’s trading instruments.
  • This account allows you to exchange micro-lots with a margin call level of 40% and a stop-out level of 10%.
  • There is no commission, so you must pay for the vector distribution (a benchmark figure of 1.3 pips).
  • You can sell up to 150 orders at a time for a limit of 7 lots per trade.

Premium Account

  • The Premium Account has a $100 (1460 ZAR) minimum balance, gross leverage of 1:500, and access to all trading instruments on HotForex.
  • This account allows you to sell micro-lots with a 50% margin call level and a 20% stop-out level.
  • There is no commission, so you must pay for the variable spread (a benchmark figure of 1.2 pips).
  • You can sell up to 300 orders at a time for a limit of 60 lots per trade.

Zero Account

  • Zero accounts need a minimum deposit of $200 (2920 ZAR), have overall leverage of 1:500, and have access to all HotForex trading instruments.
  • This account allows you to sell micro-lots with a 50% margin call level and a 20% stop-out level.

Islamic Account

  • This account form is similar to the Premium or Zero Spread Account, but it is swap-free since it adheres to Islamic law.

HFCopy Account

  • HFCopy is a tool and an account that allows traders to duplicate a partner known as a Strategy Provider over the internet.
  • This is a one-of-a-kind service built by HF Markets and available exclusively to Hot Forex traders.
  • With the Copy account, you can keep track of the top traders and copy their trades.
  • In return for a success fee focused on copy trades, an experienced trader with trading experience may become a Strategy Provider and showcase their trading strategy, skills, and expertise.

Demo Account

  • The HotForex Demo account is designed to closely resemble the Live account, allowing those new to the market to test the waters before spending real money to make a seamless transition to the Live account.
  •  The demo app will have $100,000 in virtual money when you open an account, allowing you to test your trading strategies in worlds as close to real-world as possible.

HotForex: Assets and Markets

In this part of HotForex Review, we will discuss the assets and markets offered by this broker. So they are:

  •  Cryptocurrency, Dashcoin, Litecoin, Etherium, and Ripple in comparison to the USD or EUR.
  •  Metals include gold, silver, and the euro against the US dollar.
  •  Index investing entails betting on the movement of a business segment rather than individual securities.
  •  Index investing entails betting on the movement of a business segment rather than individual securities. Australia 200, France 40, US Wall Street 30, and other indices are examples. 
  •  HotForex allows you to exchange share contracts. They vary from stock trading in that the parties do not own the underlying asset and instead win or lose money depending on market volatility.
  •  Energy includes Brent Oil from the United Kingdom, Crude Oil from the United States, and Natural Gas from the United States. On HotForex, you can sell UK Brent Oil and US Crude Oil on Spot markets.
  •  Commodities – HotForex allows you to exchange on a variety of common commodity markets. On HotForex, you can exchange Palladium contracts on Spot markets and a range of commodities on Futures markets, including Coffee, Cocoa, Copper, Cotton, Sugar, and Soybean Oil.
  •  Bond futures such as the Eurobond, the UK Gilt, and the US 10-year Treasury note can also be traded on HotForex.
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HotForex: Deposit and Withdrawal Methods

In this portion of HotForex Review, we’ll go through the various deposit and withdrawal options open to traders. Credit and debit cards, bank wire transfers, and several e-wallets such as Neteller, Trustly, Skrill, and others are all available as deposit and withdrawal options at HotForex.

HotForex: Accepted Countries

This section of HotForex Review provides you the names of countries supported by this broker. As a result, HotForex offers its services in over 180 countries, including:

  • Cyprus
  • Czech Republic
  • Denmark
  • Dominican Republic
  • Dubai
  • Ecuador
  • Egypt
  • Estonia
  • Ethiopia
  • Finland
  • France
  • Gabon
  • Georgia
  • Germany
  • Ghana
  • Greece
  • Guatemala
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jordan
  • Kuwait
  • Kazakhstan
  • Kenya
  • Latvia
  • Lebanon
  • Lesotho
  • Lithuania
  • Luxemburg
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Mauritania
  • Mexico
  • Moldova
  • Mongolia
  • Montenegro
  • Morocco
  • Mozambique
  • New Zealand
  • Nepal
  • Netherlands
  • Nicaragua
  • Nigeria
  • North Macedonia
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Qatar
  • Romania
  • Russia
  • Saudi Arabia
  • Serbia
  • Singapore
  • Slovakia
  • Slovenia
  • South Africa
  • South Korea
  • Spain
  • Sri Lanka
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Trinidad
  • Tunisia
  • Turkey
  • Uganda
  • Uruguay
  • UK
  • Venezuela
  • Vietnam
  • Zambia
  • Zimbabwe

HotForex: Customer’s Service

This section of HotForex Review will highlight the details about the customer’s support provided by this broker. During Market hours, the HotForex customer desk is open 24 hours a day, 7 days a week, and provides multilingual assistance. Clients may reach out to customer service representatives through Live Chat, Phone, Email, and an Online Contact Form.

Contact Information:

  • Address: HF Markets (SV) Ltd, Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent, and the Grenadines
  • Email Address: support@hotforex.com
  • Phone Contact number: +44-2033185978

HotForex: Pros and Cons

Pros

  • There are several regulations.
  • Accounts with no commissions are open.
  • Spreads from the live contrast table that are competitive.
  • AutoChartist is one of several premium MetaTrader software and metrics.

Cons

  • There are only 56 shares available.
  • The entity of St. Vincent and the Grenadines is unregulated.

Conclusion HotForex Review

So here the end of this HotForex Review. HotForex is a well-known online trading brand in the financial community, with certifications and certificates to prove their trustworthiness. It is a licensed STP broker that has earned recognition for its customer security and product offerings. HotForex is an ideal alternative for new and seasoned traders, with accounts that accommodate both beginners and experts, adequate educational content, regular market research, and a wide range of trading resources.

So, if you plan on using this broker in the future, don’t hesitate to try it out in a Demo Account first to see how things go!

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