Company Website: HotForex.com
Established in: 2010
Country: Saint Vincent & Grenadine
CySEC, FSCA, FSA, DFSA, FCA
Maximum Leverage: 1:1000
Broker Types: ECN/STP
Deposits: 10+ options
Withdrawals: 10+ methods
Publicly traded company: No
US clients: No
Languages supported: 27
Deposit Bonus: Yes
Minimum Deposit: $5
Minimum Trade Size: 0.01
Trading Platform: Mt4, Mt5
Mobile Trading: Yes
News Trading: Yes
Copy Trading: Yes
Metals and Energies: Yes
Hotforex is registered in the major hubs, their well known registrations are, SV, St. Vincent & the Grenadine, FCA (United Kingdom), DFSA (Dubai Financial Services Authority), FSCA (South Africa), FSA (Seychelles), More detail is give below
|HotForex Registrations and Licences|
Legal: HF Markets (SV) Ltd is incorporated in St. Vincent & the Grenadines as an International Business Company with registration number 22747 IBC 2015.
HF Markets (SV) Ltd with registered address Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines.
HF Markets (Europe) Ltd with registered address Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus.
HF Markets SA (PTY) Ltd with registered address Katherine & West Suite 18 Second floor 114 West Street Sandton, Johannesburg 2031.
HF Markets (Seychelles) Ltd with registered address Room 107, Orion Complex. PO Box 1228, Victoria Mahe, Republic of Seychelles.
HF Markets Fintech Services Ltd with registered address Spyrou Kyprianou 50, Irida 3 Tower 10th Floor, Larnaca 6057, Cyprus.
HF Markets Ltd regulated by the Financial Services Commission (FSC) of the Republic of Mauritius, category 1 Global Business No. C110008214 License | Company Reg. No. 094286/GBL.
During the Hotforex review, we cross check all of their licences and restorations and found them legit. They are listed and regulated as they mentioned on their website.
HotForex is a best selection for beginner and for the professional traders they are offering a variety of accounts for the different traders, requirements and specification of each account is detailed below.
- Minimum Deposit (USD): $5
- Maximum Leverage: 1:1000
- Spreads Types: Variable
- Spreads from (pips): 1
- Max Simultaneous Open Orders: 150
- Minimum Deposit (USD): $100
- Maximum Leverage: 1:500
- Spreads Types: Variable
- Spreads from (pips): 1
- Max Simultaneous Open Orders: 300
- Minimum Deposit (USD): $200
- Maximum Leverage: 1:500
- Spreads Types: Variable
- Spreads from (pips): 0
- Max Simultaneous Open Orders*: 500 / *60 standard lots per position
- Minimum Deposit (USD): $200
- Maximum Leverage: 1:500
- Spreads Types: Variable
- Spreads from (pips): 1
- Max Simultaneous Open Orders: 300
- Minimum Deposit (USD): $250
- Maximum Leverage: 1:300
- Spreads Types: Variable
- Spreads from (pips): 1
- Max Simultaneous Open Orders: 500
- Minimum Deposit: $500 for Strategy Provider, $100 for Follower
- Maximum Leverage: 1:400
- Spreads from (pips): 1
- Max Simultaneous Open Orders: 300
During the hotforex review, we found that most new traders prefer to open premium account due to its best offering.
HotForex Islamic Accounts
Swap free accounts or Islamic accounts are popular in the Middle East and in other Islamic countries. In such account broker do not charge any interest on the positions and rollover charges. Even your positions remain open for a week or two, there will not the commission on that positions when you are trading with the Islamic account. But one fact is there which broker rarely wants to share with the traders.
Interest income is a basic source of income for brokers, and they cannot lose it. When they offer an interest-free Islamic account, they do not charge interest but for the same account they increase the spread. Which nearly cost the same to trader if we calculate holding cost of a position. So, beware Hotforex is also doing same and during hotforex review we discuss this with many of the traders who are trading with Islamic accounts.
With hotforex the account types available as Islamic are Micro, Premium, Auto, Zero Spread and Fix. The Islamic trading conditions replicate the ones of the trading account type but do not incur swap or rollover charges for holding positions overnight.
Islamic Account Details
|Trading Platform:||MetaTrader 4, Webtrader and Mobile Trading|
|Spreads:||From 1 pip|
|Trading Instruments||All Available|
|Account Currency:||USD, EUR|
Special Terms for Islamic Accounts:
– The Islamic Account is available for clients of Muslim faith only.
– A Carry charge is applied on selected currency pairs when holding overnight positions beyond a 7-day period. Please refer to our Terms and Conditions for details.
– The Company reserves the right to revoke the Islamic Account status granted to any trading account.
They are offering variable spread, which changes with respect to volatility and charging commissions for zero spread accounts. As they mention ad per our find in hotforex review, the minimum spread is 1 pip on majors which is decent but not competitive to attract professional traders.
Spreads are the fees that a trader pay to a broker to facilitate and providing trading platform the higher spreads means lower income for the trader. Because it matters when you book a smaller number of pips as your gain. Their spreads start from 1 pip but most time it varies between 1.0 to 3.0, which is too high for a trader as a trading cost. Specially for professional traders.
But when we consider these spreads comparatively with other similar sizes, brokers HotForex spreads are better than others.
Well, leverage is a two-way sword it can multiple your winning and also can bring margin call in no time. For good results, the selection of maximum leverage is unnecessary. Choose very appropriate leverage for your trading. Choosing your leverage also considers your experience in this market. They are limited in the leverage through their UK registration but on their main website which is accessible for the rest of world they are providing leverage of 1:1000 which most of the traders want. Leverage also differs with the type of account, so select your account type carefully.
They are offering reduced leverage on metals and energies, which is 1:100, which is an industry standard as well.
Nowadays traders want a quick deposit into their account, and even it is required to save an account when a margin call is there or when an opportunity is ahead. In Hotforex review we conclude that hotforex is accepting deposits through all the major channels like WebMoney, Skrill, NETTLER, FASAPAY, BITCOIN by SKRILL/BITPAY/, Credit Cards of VISA, MASTER, UNION PAY and wire Transfer.
This is a lot of choice and convenience for traders to deposit their investment with the HotForex from any available options. Specially in the developing nations trader choose broker which are accepting deposit through e-currencies.
No fees for Deposits: they are not charging any fee on deposits, which is an added advantage for traders. Traders will get the same money in their trading accounts that they deposit. No deduction of fees.
If you have a verified account, then your deposit will be available to trade within no time we also note this during hotforex review.
For withdrawals, all the options are same as in deposits except BTC they are not offering to withdraw your money through BTC while all other options are available. A trader can only use a same method for withdrawal which he uses to deposits but deposit made through BTC are available to withdraw through other channels.
No fees on withdrawals: the money in your account belongs to you and you can withdraw your money at any time without any fee that is a great option.
They are doing it against the industry norms, like there are brokers who are accepting deposits without any fee but charring higher fees on withdrawals. In Hotforex review, we found that traders are requesting withdrawals too frequently and receiving the same with no fee. While interacting with traders during the hotforex review traders told us that withdrawals are processed quickly and many times within same hour which is really great
HotForex Deposit Bonuses
We do not consider bonuses a good reason to choose a broker because a bonus always brings some serious conditions with it. But nowadays every trader wishes to avail the bonus because it’s an easy way to increase the trading power. But in actual it traps the traders.
Before engaging in any of the bonus issues, make it sure you read all the terms and conditions. Sometimes volume conditions make it difficult for the trader to withdraw his profits and invested money. The most important thing is terminations of bonus contract make it sure you can terminate and can withdraw your profits as well as your invested money at any time and without any restrictions.
Ask for the specific restriction through online support and search for restriction in the bonus trading agreement. Before hunting for bonuses, secure your own investment.
In HotForex review we find that volume requirement is still there in the term and conditions of the bonus which you have to meet to withdraw bonus but here you can withdraw your profits with no restrictions that is a good thing of HotForex.
Hotforex is offering 100% of deposit bonus, which will double your trading power at the instant basis and you can trade more. The careful use of bonuses can increase your profits dramatically but also keep an eye on the inverse side.
Safety of Funds with Hotforex
Hotforex is very keep towards safety of funds, they know that traders always want security of funds to pay full attention toward trading only. Therefore, they take some additional measures to ensure adequate levels of safety of
Market Leading Insurance, the Company has made further efforts to safeguard its liabilities against Clients and other third parties with a Civil Liability insurance program for a limit of €5,000,000, which includes market leading coverage against errors, omissions, negligence, fraud and various other risks that may lead to financial loss. There is no additional cost for traders to bear. Insurance certificate is available on the website.
Industry leader; leading financial safety, the HotForex brand has become a global leader in online trading, specializing in forex, derivatives on US and UK stocks, commodities, spot metals, and indices. Client fund security has been a part of Hotforex philosophy alongside unmatched trading conditions and customer support. With global recognition for excellence, a solid reputation, and multi-award-winning services, HotForex clients are assured that their funds are held securely.
Accounts with major banks, HotForex made the decision to only use major global banks. The strength and international standing of the HotForex brand enable the company to provide liquidity through major banks.
Segregation of funds, clients’ funds are received into bank accounts separate from those used by the company. These funds are off the balance sheet and cannot be used to pay back creditors in the unlikely event of the default of the Company.
Negative balance protection, volatility often occurs in the market. HotForex’s policy of negative balance protection means that even under highly volatile conditions when margin calls and stop outs do not function correctly, no client is responsible for paying back a negative balance. This is a benefit which is not available with other competitors.
Risk management, HotForex continually identifies, assesses, and monitors each type of risk associated with its operations. This means assessing on a continuous basis the effectiveness of the policies, arrangements, and procedures in place which allow the company to easily be able to cover its financial needs and capital requirement at any time.
HotForex Trading Softwares
They are present in this market from years but they do not update their trading platform.We remember it well they took start with the mt4 and still they are offering the Meta quotes trading software for trading.
Meta quotes trading software’s are popular among retail traders specially in the developing nations, these softwares’s provides very basic services and functions. The tools which a serious professional traders need is not available in these softwares’s and this is a major reason professional do not want to trade with these softwares’s.
They are offering all variants of Meta Quotes
MT4: Desktop, Web Terminal, Android, iPhone, iPad, Multiterminal for desktop
MT5: Desktop, Web Terminal, Android, iPhone, iPad
These are the easiest to operate software with the very basic knowledge one can place the trades. Automations are possible with these and custom indicators is also a best option. But still these are software for very first level retail traders. Here you can see the comparison of both available options.
MT4 Vs MT5
|Built-in Economic Calendar||Yes||No|
|Platform Speed||64 bit, multi-threaded||32 bit, mono-threaded|
|Order Execution||Market Execution||Market Execution|
|Pending Order Types||6||4|
|Ability to create your own technical indicators and Expert Advisors using MQL5 language||Yes||No|
|Strategy Tester||Multi threaded||Single thread|
During our HotForex review we come to know that majority of clientage of this broker comes from Asia and middle east, and MT4 is a popular choice there because it’s easy to download, instal and operate also its automation advice and robots are easily configurable and available free of cost on the internet. These facts give this software a boost and to HotForex as well.
FIX API, HotForex is a broker on the top among brokers offering FIX API but as you know well this option is not for individual or professional traders this is an option for institutes and hedge funds a individual trader cannot meet the deposit required to avail API facility. The information that we collect for HotForex review was enough to conclude that hotforex API is not chosen by any of institute by until now even they are offering full control over the trading through their API,
his product offers direct market access to HotForex clients that want to use the FIX protocol.
This is an ideal product for traders using:
- Advanced Order Types
- Automated quotes engines
- Automated trading systems outside of MT4
- Order-Routing Management Systems
The HotForex RapidTrader API is the perfect solution for professional traders looking to take advantage of a dynamic, integrated environment.
Who uses API Forex Trading:
- Corporations, brokers, hedge funds and money managers requiring always-on, real-time forex trading capabilities
- Companies integrating forex trading into their treasury systems
- Brokers hedging the exchange rate exposure of their equity positions
- Customers creating user interfaces customized to the HotForex fxTrade system
- Retail customers developing proprietary trading models
NOTE: The Minimum Deposit for the FIX/API account is 200,000 USD.
During this hotforex review we contact them multiple times through their live chat option from their website and through email and ask some tricky and start forward question and found that hotforex support is most efficient, effective and skilled. Their response time really encourage us to give them five stars to their support. All the contacts information is give clearly on their website, here you can find some,
|Customer Support:||[email protected]|
|Execution Desk**:||[email protected]|
|Affiliates Support:||[email protected]|
|Affiliates Sales Department:||[email protected]|
|Introducing Brokers:||[email protected]|
|White Label Partnership:||[email protected]|
HotForex Swaps and Rollovers
Rollover, also known as Swap or Overnight Fee, is an interest paid or earned because of holding a position open overnight on a derivative. They are not better than other brokers when we compare swaps. Specially all the retail traders focused brokers are charring highest swaps as it’s very basic source of income for them and they do not show any relaxation in swaps and rollovers.
Hotforex is charging highest swaps and rollover just like other retail trading brokers in this industry, during hotforex review traders told us they are ok with these swaps as every one else retail broker is also charging the same swaps.
With hotforex Swaps values may be adjusted daily based on market conditions and rates provided by our Price Provider applicable to all open positions. Triple swaps are applied every Wednesday.
Their execution is fair and fast enough there is not compliant of re-quotes means the orders which are initiated are executed in a first attempt without any delay that means no slippage and no leakage in income. It’s really an added advantage of trading with this broker. All the traders whom we interview during hotforex review was quite satisfied with their execution specially they mention the quality of execution during the economic release time.
Either an order is initiated from the desktop application or from the mobile of iPad when the order reach to hotforex servers it is executed in the due time and priority this is the reason there is no require and delays. This is also a reason for their popularity.
HotForex Execution Desk
It is always not possible to trade from a device sometimes when you experience connectivity problem or when you are on wheels, there you can use this service through call or chat.
The HotForex Execution desk is available to all live HotForex account holders. Clients can close and manage orders over the phone with the execution trading desk when necessary. Please note that inquiries are limited to placing stops/limits to close or manage open positions only. The Execution Desk is unable to take market orders or pending orders to open new positions.
Hours of Operation
7:00 to 23:59 Server Time Monday to Friday
Call +44-2033183968 to speak with a HotForex Execution Manager.
All HotForex clients are encouraged to call the Execution desk under the following situations:
- No immediate access to the Internet
- Trader fails to receive a confirmation on an order placed online
- Internet failure or failure to connect to the HotForex server
In our hotforex review we find that this service is hardly used by the forex traders while its most of used by the equity and bonds traders.
HotForex Trader's Tool
A professional trader did not need any tool specially the technical one, as he becomes well aware with the outcomes and with the pros and cons of everything but a new trader always needs trading tools to support his decision making and to become sure about his trading decisions. Hotforex is offering a vide variety of tools that are needed to every trader. Like there is as an economic calendar and a daily market summary which can help a trader build his trading idea, have a look on all available tools.
From the commencement of business to until now they fulfil their promises this is the reason there are awarded with more than dozens of awards. Till this moment they are awarded nearly in every category that show their commitment towards excellency and serving the traders. This market become much better, advanced and fair with their presence.
A award means broker is evaluate by professional institute on the basis of their commitment and services and number of awards are enough to prove that they are doing well. In the current year until they are awarded three awards.
Recommeded for Forex Trading
They are offering a variety of forex trading pairs which usually every one trade and have adequate liquidity and volatility. They are offering
Forex Major pairs: 15
Forex Minor pairs: 34
So, in total, they are offering 49 pairs to trade; these pairs are available to trade on all account types and even on Islamic interest-free accounts. Spread and leverage may vary with respect to account type.
The open trading hours of the HotForex Metatrader Platform for Foreign Exchange instruments are between Monday 00:00:51 and Friday 23:59:59 Server time. Please note that Server Time is subject to Daylight Saving Time (DST), which begins on the last Sunday of March and ends on the last Sunday of October. Server Times: Winter: GMT+2, Summer: GMT+3 (DST)
Shortly prior to the open, the trading desk refreshes rates to reflect current market pricing in preparation for the open. At this time, trades and orders held over the weekend are subject to execution. Quotes during this time are not executable for new market orders. After the open, traders may place new trades and cancel or modify existing orders.
As per our knowledge and research during hotforex review, all the instruments live feed work well during the trading hours. But most of the brokers nowadays offering 100 plus currency pairs to trade while they are only stick to 49, traders want some unpopular choices too.
Recommended for Metals and Energies
Nowadays all of forex trading brokers are offering to trade precious metal and energies with the spot and futures option.
HotForex is offering these through the same platform and these tradable instruments are accessible through each of their platform. The leverage on these instruments are 1:100 which is also an industry standard. While conducting our hotforex review we find that the hotforex execution and spread are far better than competitors.
Metals and Energies Spot Contracts: UKOIL.S, USOIL.S, XAGEUR, XAGUSD, XAUUSD, XAUEUR
- UKOIL.SUK Brent Oil
- USOIL.SUS Crude Oil
- XAGUSDSilver/US Dollar
- XAUUSDGold/US Dollar
Metals and Energies Futures Contracts: NGAS, UKOIL, USOIL
These instruments are not tradeable as currency pairs, so before deciding on any instrument check the trading hours with the hotforex. And also check for the expiries of future contracts before entering into a trade as rollover may book loss or profit on your account.
Throughout our hotforex review we feel that the list of metal and energies is too short for trade there are a lot of instruments in these categories which other brokers are offering but we do not find with this broker.
Recommeded for Indices Trading
They are offering not all but a wise and most traded indices to trade, spread and rollover conditions are different for these indices so before engaging in trade check the both in detail. There offered instruments are as under,
Indices Spot Contract: AUS200 Australian 200, FRA40 France 40, GER30 Germany 30, JPN225 Japan 225, NETH25 Netherlands 25, SPA35 Spain 35, SUI20 Switzerland, UK100 UK 100, USA100 US Tech 100, USA30 US Wall Street 30, USA500.S US SPX500
Indices Futures Contract: EU50.F EU STOXX 50, FRA40.F France 40, GER30.F Germany 30, JP225.F Japan225, N25.F Netherlands 25, SUI20.F Switzerland 20, UK100.F UK 100, US100.F US Tech 100, US30.F US Wall Street 30. US500.F US SPX500, USDIndex US Dollar Index.
Positions on derivatives in shares and indices are subject to an overnight financing credit/debit charge. Please note that when traders open and close a position within the same trading day, they are not subject to overnight financing.
These overnight charges can be adjusted for corporate actions such as cash dividends pay outs, exchange offers, dividend options, bonus issues etc.
Triple swaps are applied every Friday on all open positions held over the weekend for derivatives in Indices.
Triple swaps are applied on all open positions held every Wednesday for derivatives in Shares.
They update all swap rates on both the company’s website and the MT4 platform with a cutoff time 14:30 GMT.
Majority of retail brokers face the problem like in the live session the price of indices stuck in and traders lost live feed in hotforex review we come to know that trading indices with hotforex is smooth as they do not experience such issues. But they are not offering all indices to trade there is still need of improvement.
Recommended for Shares Trading
The most important thing that we found during the hotforex review is their margin requirement for shares trading.
In this industry all of other brokers are stick to 5% or margin requirement with 1:20 leverage on shares while this broker is offering shares trading with the 7% margin which is higher than the competitors.
Margin is a by-product of leverage and while trading we need to consider both, so with this broker you will the more money to trade share as you can trade with the competitors.
Share of 56 top rated US companies are there to trade during the US trading session and these instruments are available to trade to every account holder, check for the swap rates and dividend schedules before making any decisions on shares.
This list is very short they need to add at least all top 500 companies in this list then we can say that its valuable to trade shares with hotforex.
Trading costs are also high to trade shares with them as they are charging highest spreads on these stocks.
Recommended for Commodities Trading
They are not professional futures trading broker they added these futures products and spot commodities to enhance their list of trading instruments and this is the reason only a few of commodities are there to trade.
Commodities Spot Contract: Palladium, Platinum
Commodities Futures Contract: Cocoa, Coffee, Copper, Cotton, Sugar, Soybean Oil
A professional commodity trader wants multiple contracts on a same commodity in different months and the full range of products and these features are not available with this broker.
While conducting the hotforex review, we try to find a trader who trade commodities with this broker but there we did not find any. Against all commodities, only one futures contract is offered which is a real constraint for trading commodities with this broker. We do not evaluate carry a trade cost of their commodities trading as we did not find any commodity trader with this broker.
These all instruments are available to every hotforex account holder.
Recommended for Cryptocurrencies Trading
They are providing an opportunity to trade cryptocurrencies with the leverage this is really a added advantage to open and account and trade with this broker. Cryptocurrencies gain too much in recent years and it not possible to trade them with the original value so if one can make good decisions then he can trade the cryptocurrencies with the margin.
Here Hotforex is offering to trade cryptocurrencies with the 10% margin means you can trade more currencies if you trade with hotforex instead of a cryptocurrency exchange.
Cryptocurrency trading offer another advance that is a trader can trade these 24/5 without any break. So, Only tradign crpto’s on weekdays is a biggest disadvanrage of trading crypto’s with this broker.
Volatility and leverage make an exact combination for profit making, so if you have any interest in crypto trading, then hotforex is the best option. In our hotforex review time we communicate with the traders who are trading cryptocurrencies with this broker and they are quite satisfied with their services.
Cryptocurrencies Contracts: BTCEUR, BTCUSD, DSHUSD, ETHEUR, ETHUSD, LTCEUR, LTCUSD, XRPUSD
There is no time limit you can enjoy trading at any time. Under listed are two important terms to understand before placing a cryptocurrency trade with hotforex.
- The execution of new orders for crypto currency instruments is subject to the company’s risk management procedures. The opening of market and pending orders might face temporary rejections.
- Commission charge of 1 USD per lot round turn is applied.
Recommended for Bonds Trading
If you are found of bonds trading you can do it here on hotforex. While concluding our hotforex review it was really an amazing news for us that hotforex is offering bonds trading which is only available through highly professional brokers.
The list of available instruments in this category is not a huge one but these few are enough to taste the bond trading.
EUBUND.F Euro Bund
UKGILT.F UK Gilt
US10YR.F US 10-year Treasury Note
The good thing is one can trade these three financial instruments with just 2% margin which is not possible with other similar assets.
Recommended for Learning
Yes, they are recommended for trading education; a comprehensive trading course is there which powerful enough for a new trader. If a new trader considers that course, then he can turn his profitable in a matter of weeks.
This is a broker that makes efforts to keep clients and make them able to trade well and earn while staying with them.
In this effort, they create a course for traders and, along with this course, other material is also available on the website which one can consider for better learning.
HotForex believe in educating you and all traders by giving you the resources you need to improve your Forex trading experience and results. Whether you’re completely new to trading Forex or a seasoned trader, HotForex great range of Forex educational tools will put you on the right trading path. Start to learn today by taking advantage of our great range of Forex training resources! Whether you’re interested in our live webinars or market analysis, want to watch Forex-related training videos or simply want to work through HotForex Forex education eCourses, you’ll find everything you need at HotForex!
The combination of all listed below will make a novice trader a good decision maker and trader who can decide at his own.
- Forex Trading Webinars
- Over 20 Forex Educational & Tutorial Videos
- Over 30 Recorded Forex Videos Tailored to Trading
- Daily Market Fundamental & Technical Analysis
Recommended for Loyalty Program
Their loyalty promotions are worthwhile and good thing here is it is time based and you move forward with the count of time your rank will change automatically and it also multiple your earning points which you can spend for different purpose. There are 4 different reward levels! The more active trading days you accumulate, the more HotForex Bars you’ll earn for each round-turn lot you trade!
Qualify by registering for HotForex Trading Rewards!
Earn 6 HotForex Bars/ Lot
Qualify when you have accumulated 31 Active Trading Days!
Earn 8 HotForex Bars/ Lot
Qualify when you have accumulated 62 Active Trading Days!
Earn 10 HotForex Bars/ Lot
Qualify when you have accumulated 105 Active Trading Days!
Earn 12 HotForex Bars/ Lot
Recommended for Rewards
From time to time, this broker also arranges contest between live traders and for demo traders and announces attractive gifts for winners. Such events really create encouragement for new traders and for the existing traders who are making money, during HotForex review traders also discuss us that such events also force traders for over trading. Over-trading can be dangerous for traders so careful if you are hunting for some specific price.
Contest among demo traders is a superb tool for broker to attract new traders but these contests also provide opportunity to earn capital if you do not have investment then adopt to sign up for one and try to earn the capital for trading.
In Hotforex Review we identify that Hotforex is offering the substantial sum of money in prizes through demo contest which can be an exceptional opportunity for many of the traders to win trading capital.
Recommended for Beginners
This broker is highly recommended for beginners; the very first opportunity for beginners is they are offering a forex education course and many other learning materials along with webinars. These interactive webinars are really helpful for learning purpose as these provide an opportunity to learn through live visual and attendees can ask to the presenter to make concepts clearer. And when a trader learns through a live interactive session about the live market condition and live analysis, he understands better and the concept remain with him permanently.
On the other side withdrawals and deposits is also a reason to recommend this broker for beginners the methods available to deposit and withdrawal make the process easy and quick and this whole process is hassle free. This broker is a popular choice outside of major trading hubs and traders there prefer to choose the brokers with the multiple withdrawal and deposit options specially broker with the e-currency deposit and withdrawals. While conducting the Hotforex review, we find that everyone is happy with their funding and withdrawal methods.
Highly technical and efficient support is a good reason for us to recommend them for beginners, In the process of hotforex review for many of questions we contact their support online through their website and through email and found that they are equipped with all necessary and technical skills each tricky question is answered by them in the professional way. Their turn around time really deserves five stars.
In hotforex review we also find that the trading account range of hotforex also suits to the beginners and minimum deposit requirement added another advantage to choose this broker to trade financial assets.
Support in multiple languages make the traders able to interact in their local language so the traders who are not good in English also feel safe and secure with this broker.
Recommended for Professional Traders
They are somewhat recommended for professional traders in the process of hotforex review we also find professional traders who place their funds with this broker and trading actively but the majority of those trader discuss the cost of doing business with this broker. Executions, safety of funds and support of this broker is really good for professional traders, but the trading cost is at higher side and traders have concerns about it.
Secondly, the only trading platform available is mt4, which is not used by most professional traders. As per our experience and feedbacks professional do not like to trade with the mt4 and mt5 they want advanced trading software’s, which enable them to do advanced technical analysis and trade management, which are not available with this broker.
Well, if Hotforex address these two issues, then surely it is a best broker on the plant earth to trade especially for the residents/traders of non-developed nations.
Recommended for PAMM
There are recommended for PAMM, during the review period of hotforex we find it on a second number on PAMM account, with regards to the investments in the PAMM accounts they are at second number among PAMM offering brokers.
PAMM Traders, there is a specific requirement to be meet even do not have any hard and fast rules for PAMM managers to become qualified but they are good because they impose some very basic level restrictions. They are offering multiple tools to make PAMM trading easy and this is most transparent pamm service. they are also offering affiliation program in PAMM.
PAMM Investor, there is a restriction of minimum balance for a trader as well for investors which means when an investor loses, he will lose his own funds too that is enough to put some pressure to bring find trading results from manager side. So, we feel that it is a good program for traders to invest money.
Our hotforex review was very focused to find the traders view about PAMM service because of the initial level restrictions and we conclude that hotforex is doing best and traders are satisfied with this service. But if they impose a trading requirement for this program and minimum drawdown, they can make it better.
Recommended for Copy Trading
Copy trading is a really good service for the traders who are trading at their own and want to enhance their revenue while sharing their trades with others which are automatically copied of followers account. It is a really beneficial service.
On the other side, it is a no cost service where not additional charges are applied to copy the trade or to offer the services. Especially for the signal providers like a signal provided open a trader at his own account and all his follower can follow him and the trades from the master account will automatically be copied at all followers account. In case of winning, the success fee will be charged automatically and deposited into the master account of the signal provider. For signal provides, extra cost occurs if he produces good results.
In hotforex review we also ask about copy service of hotforex and find them legit in all manners as they are following a defined policy, lets have a look at what hotforex is saying about its copy service.
Strategy providers, traders who consider themselves more advanced, can apply to become Strategy Providers. In this way, if they qualify, they will show off their trading knowledge and expertise, can build their inventory of loyal Followers and trade in exchange of a Performance Fee which can be as high as 50%.
Followers, Hotforex copy is a powerful solution which automates trading for traders who wish to get access to the vibrant trading world but never had the time to do so before. No matter how confident someone is about trading, they can become followers, copy a strategy, and start learning.
Anyone who becomes a Follower can invest funds under HotForex copy, having full control of his own account, and will deposit & withdraw and close trades as desired, and much more.
Recommended for Partners
Well, Their partnerships programs are also on the top because they are paying highest percentage of share from their revenue to the partners and this is the major reason like $15 rebates per lot is high as compare to the industry and this is the reason they are working with the highest number of partners in this industry. Some of their programs are:
AFFILIATES, Hotforex affiliates is the ultimate Affiliate Program in the Forex Market. Hotforex cater to Offline and Online Affiliates paying top commissions for referred clients to Hotforex. With the best commission structure and tailor-made products, Hotforex can help you achieve your revenue expectations. This program does not require first class knowledge in programming or administration, and your clients can always get updated and reliable information from the company’s web page. During the hotforex review most of the traders suggest going for hotforex IB program as that is more rewarding one.
INTRODUCING BROKER, hotforex Introducing Brokers (IB) program allows organizations and individuals around the world to be remunerated for introducing new clients to us. Hotforex offer a total solution, from a provision of the trading platforms to execution and settlement of transactions. An account manager is appointed to each IB to help them develop their business and to ensure hotforex provide the highest levels of service. hotforex take care of all the administration, allowing you our IB to focus on the client. In hotforex review we find their IB program a most advance and legit program in the financial industry.
FUND MANAGERS, hotforex welcome partnerships with Fund Managers. After the necessary appraisal of your funds hotforex will be happy for you to trade on behalf of your clients on an undisclosed or disclosed basis. hotforex will also offer you the opportunity of promoting your services through our site. For further details please complete the form and one of our representatives will contact you.
During our hotforex review we were keenly interested to review their white label services but unfortunately, we did not anyone who is doing business with their white label service.