Are you a newbie in forex trade? Unable to decide how to move ahead? Looking for a quality forex broker who could guide you according to your intellect and temperament apart from the amount of time and money you’re ready to invest? In such a case HotForex is the best option. We’ll discuss in this article HotForex review briefly.
Special offer :
This forex broker offers 100% rescue bonus.
Hotforex offers 100% forex bonus. Full bonus amount withdrawal is possible under the right conditions. Using this bonus all live customers will get protection from Margin Calls and protection Stop Outs during Draw down periods.One of the new promotions is Increased Leverage for live accounts.
Traders outside EU can claim bonus:
European clients cannot receive Bonuses and apply for the PAMM account.
HotForex Review – HotForex Forex Broker Bonus
HotForex Broker Review
HotForex is a worldwide provider of online trading services, providing better service to all types of traders.
This Forex broker offers a 100% credit bonus, as well 30% rescue bonus.
Can we trust Hotforex – is it hotforex scam ?
HotForex is a global company that has its headquarters in Europe but it has sub-branches. It specializes in the provision of online forex services as well as contract for differences (CFDs), and it mainly deals with trade for commodities, bonds, cryptocurrencies such as Bitcoin, exchange traded funds and equities. This company has managed to have a lot of clients since the number of people who have live accounts with this company are more than 500,000. In addition, the company has over 200 employees in the whole world or in the counties where it has branches. The company has also managed to emerge winners of more than 200 industry awards since the day it was founded. It supports more than more 27 languages.
Hotforex has high reputation. HF Markets (SV) Ltd is registered in St. Vincent & the Grenadine as an International Broker Company with the registration number 22747 IBC 2015.This broker has more than 20 prizes and awards as one of the top brokers in the world.
HF Markets (SV) Ltd.
Griffith Corporate Centre,
P.O. Box 1510, Beachmont
St. Vincent and the Grenadines
Founded in 2010, HotForex has gained popularity among forex brokers (as well as affiliates). The most significant point that makes it worth consideration is the high-quality, timely customer support service. It’s this factor that the clients tend to stay with the broker.
Another important point you have to consider is the forex trader is regulated by diverse authorities. These include CySEC (Cyprus), FSC (Mauritius), FSB (South Africa).
This ensures transparency and stringent adherence to the laws as prescribed. All this is in the greater interest of customers and other stakeholders. Note that HotForex has offices in countries considered to be tax havens in the world. This may be an issue for traders hailing from Australia, the United States, India, etc. Traders in the United States are under the purview of CFTC and they must get the membership of NFA to be eligible to conduct business in the country.
Since the company is a retail broker, it has managed to offer trading conditions that are very attractive. This firm has allowed the clients to trade a wider range of instruments such as forex, spot metals and CFDs on indices, commodities and shares of popular companies such as Facebook, Apple and Google as well. This brand operates in different jurisdictions but the most reliable one is found in Europe, and its headquarters are in Cyprus, and it is registered under the European Union. Cyprus Securities and Exchange Commission is the body that has licensed this body. Its success has been contributed by tight and well-balanced regulation. Cyprus is a country with tough regulations, and firms that want to invest in this country have to consider high entry capital requirements as well as well as low capital maximum leverage. This has reduced competition from other potential firms. In addition, these firms are required to keep customer funds in segregated accounts, and they should not be mixed the company’s operating funds. This makes sure that customers’ funds are safe. In addition, companies that are regulated by Cyprus Securities and Exchange Commission have to be members of a body known as Investors Compensation Funds, and this body have the capability to pay up to 20,000 euros in case the company fails to. This firm has been given the authority to operate in South Africa and in Mauritius, and it hold investment licenses from these two countries.
How secure is it?
You will have a separate bank account. In these accounts, your funds will be held in accounts in different banks with assured protection against balance going negative. This as well ensures the continued safety of clients’ funds even though the broker is sold off.
Protection with insurance
HotForex has bought insurance to the extent of €5,000,000. This aims to protect the company against any adverse financial exigencies because of fraud, errors, or negligence.
The official website is the forex broker is safe as it is protected with SSL (28-bit SSL ). By this, encryption of all the data happens and data are protected against unauthorized entities when being transmitted on the Internet.
According to a big number of traders, brokers’ reliability is their biggest worry and concern. The worry is connected with the fact that there are a lot of online scam traders, and they cannot imagine losing their hard-earned money. A big number of traders are often care when investing with an online broker or platform. However, being reliable is not a concern for traders. This is by taking into consideration that the number of years this company has been in existence. In addition, it has managed to establish a good and respected reputation the online trading community. Winning more than 20 industry awards is an enough prove that this company has been performing well, and customers have a great faith in it, and they would like to invest with it. In addition, the company has managed to succeed in Cyprus, a country that has very tough and strict rules about investment. The company has more than 200 employees, and this also proves that the firm is ready to perform according to the expectations of the customers. Language is not a barrier since this company supports more than 27 languages, and this means that different traders can be served despite their language.
Is HotForex scam?
As we have mentioned elsewhere, HotForex is under the purview of various financial regulatory and supervisory organizations across countries like Cyprus, the UK, South Africa, and so on. Being under the scanner of such authorities, HotForex cannot survive as a scamster.
Did you know that HotForex offers a scheme that entertains investors to get compensation?
HotForex offers investor compensation as the guidelines under the regulations of FCA and CySEC to the extent of GB £50,000 and €920,000 (Euros).
Trading Platform of Hotforex
This company has been supporting metatrade4 (download hotforex mt4 platform), which is a known international acclaimed trading terminal, and it offers a full spectrum of tools and resources of trading. It consists of; technical indicators that are built in, charting package that is advanced, expert advisors (EA) as well as their extensive back-testing options. On EAs, traders have two options. They can either download the ones that are readymade or create theirs, where program is allowed to do make perform all the duties in creating expert advisors, meaning that that there is no human involved in this. Traders who have invested with HotForex can access MT4 via a mobile app, a desktop app or a browser. In addition, this company provides traders with MT4 multi-terminal, thus providing a practical and convenient ways of managing several accounts simultaneously from a single interface. Since the company has the technique that allows traders to manage several accounts, it is an enough convenience guarantee, since they will not be logging in and out when managing different accounts.
HotForex MT4 Terminal provides a number of amazing logical resources. 9 time frames are available for each economical device that provides specific research of price characteristics.
HotForex account types
Since the dream and the mission of this broker is to serve different needs of traders and make sure that these customers are happy, it has different types of accounts, and each account has unique characteristics.
For traders with a bit of experience, it is better if they invest under the premium and VIP accounts, since these account provide traders with an opportunity to open positions that are quite large and on tighter spreads. The minimum amount of money that a trader can deposit into these accounts is quite more than the one that is deposited in Micro accounts.
The following are the accounts that HotForex offers to its customers.
Types of account offered
HotForex offers Micro, Zero, Premium, Auto accounts.
The minimum deposit you can make is $5 with leverage 1:1000. The minimum investment for Auto account, Zero accounts is $200 with a highest leverage of 1:500. Spreads vary widely.
Micro account – You can access this account on the MT5 and MT4, mobile and WebTrader platforms.
Premium account – This account is ideal for professional trades and the platforms where you can access it are MT5, MT4, mobile and WebTrader. The amount of spread starts from 1 pip with a maximum leverage of 1:500.
Zero account – The zero account has spreads from 0 pips. You need to deposit not less than $200 and will have a highest leverage of 1:500.
You can access your Zero account on the MT4, mobile, and WebTrader platforms.
Islamic account – If you have an Islamic account, you need to pay swap or rollover fees for holding positions in these accounts. You can get it in the form of premium, Micro, Auto or Zero accounts.
Demo account – The demo account is provided to all traders wishing to test their strategies or experience under real market conditions. The opening capital is $100,000. Creating a demo account is pretty simple and easy. You just need to click the ‘demo’ button on the top right of the official website of HotForex.
For European Union clients.
• Premium account where a trader is required to deposit a minimum of 500 dollars. It has a 1:30 leverage, and it spreads from one pip.
• Zero account where a trader is required to deposit a minimum of 100 dollars. It has a leverage of 1:30, and it spreads from 0 pip.
• VIP account where a trader is required to deposits a minimum of 20,000 dollars. It has 1:30 leverage, and it spreads from 0.2 pips.
• Auto account where a trader is required to deposit a minimum of 500 dollars. It has 1: 30 leverage and it spreads from one pips.
• Follower account where a trader is required to deposit a minimum of 300 dollars. It has 1:30 leverage, and it spreads from 1 pip.
For clients outside the European Union.
• Micro account where a trader is required to deposit a minimum of 50 dollars. It has 1:1000 leverage, and it spreads from one pip.
• Premium account where a trader is required to deposit a minimum of 500 dollars. It has a 1:400 leverage, and it spreads from one pip.
• Zero account where a trader is required to deposit a minimum of 100 dollars. It has a leverage of 1:200, and it spreads from 0 pip.
• VIP account where a trader is required to deposits a minimum of 20,000 dollars. It has 1:300 leverage, and it spreads from 0.2 pips.
• Auto account where a trader is required to deposit a minimum of 500 dollars. It has 1: 400 leverage and it spreads from one pips.
• PAMM account where traders are required to deposit a minimum of 250 dollars. It has 1:300 leverage, and it spreads from I pip.
• Follower account where a trader is required to deposit a minimum of 100 dollars. It has 1:100 leverage, and it spreads from 1 pip.
Traders should be aware that clients from Europe can neither apply for PAMM accounts nor receive bonus.
HotForex trading of Cryptocurrencies
HotForex has been one of the platforms that provide trading facilities of cryptocurrencies since the invention of these currencies. This company has more several cryptocurrencies in its cryptocurrencies portfolio. Cryptocurrencies that this company is currently supporting are Bitcoin, Ethereum, Litecoin, Dashcoin Bitcoin and Ripple US dollar.
Trading of cryptocurrencies in this company involves the dealership of financial derivatives such as CFDs. A trader does not use cryptocurrencies to buy or sell goods. However, traders use CFDs that give them the opportunity to capitalize on the price movement of cryptocurrency.
The spreads and commissions of HotForex.
This company has both fixed and floating spreads. In the fixed ones, spread are comparatively low, accounting to average of 1.5 spreads. On floating spreads, they account to 1.2 pips, and this is relatively attractive. However, the conditions on the zero account are considered to be the most attractive, as it spreads from 0.1 pips, and this is according to us.
The Withdrawal and Deposit options at HotForex.
In case a client would like to deposit money on his or her account, he or she can use different methods of making payments. These methods include use of debit and credit cards such as Visa, Visa Electron, Maestro, MasterCard and American express. A trader can also use bank wire transfer and e-wallet methods of payment, and companies such as Skrill, Neteller, PayPal, WebMoney, TrustPay, iDeal, Sofort and western union offer e-wallet services. This is when a client wants to deposit. He or she transfer funds from his or her bank account, credit or debit account or e-wallet account, to the account of this company. When he or she wants to withdraw money from his or her HotForex account, he/she requests the amount needed and the account manager transfers the needed amount to the respective bank, credit or debit card, or e-wallet account, and this is according to customer’s preferences.
Promotions and bonuses for non EU countries
This broker has the best bonus. They include.
• 100 percent supercharged bonus which applies to each deposit of 250 dollars by premium, Currenex and Islamic holders of accounts with up to 50,000 dollars.
• 30 percent rescue bonus and it applies to a deposit of 7,000 dollars. Under any circumstance, the amount cannot be withdrawn.
• 100 percent credit bonus which applies on new deposits or internal transfer to accounts of trade of at least a 100 dollars.
Since this company supports more than 27 languages, any customer can get any kind of support and information ne needs, despite the language he is using. In addition, customers can communicate to the support anytime of the day and night, and from Monday to Friday, since the support team is always available, and they work in shifts. Traders can communicate with the support via emails, phone calls, fax, live chats, through social media sites including Facebook, Instagram and Twitter, and others. The best thing about the support of this company is that it has several phone lines, and this means that several traders can be attended to at the same time. Lastly, phone calls are not expensive.
Customer support is offered in diverse languages including English, Bengali, Arabic, Traditional Chinese, Simplified Chinese, German, French, Italian, Indonesian, Portuguese, Malay, Paris, Spanish, Russian, Thai, Italian, Greek, Korean and Vietnamese.
Social media presence.
Being on social media has become a daily routine for individuals and companies. A lot of communication takes place on these sites. This company has not been left behind. It is social media presence is very evident. On Facebook, this company has about one million followers, and most of them are active users. In addition, the page is always active, and it keep notifying its clients about the performance of the dollar in the forex market. This has remained a good channel to communicate with the clients as well as giving them the information, they need. This is an advantage to clients.
This company has a system that it uses to educate kits clients. It is known as HotForex education center. It offer e-course programs, and the aim of this center is to teach traders the simple terms of forex market, since clients need to be aware of the kind of business they should invest in. in addition, clients are taught the reasons why forex market exist. Clients will be notified about the incoming seminars and educational events via the resource center and website. Individuals with great knowledge in forex market are the ones who will teach the students. Live questions and answer sessions will be available during seminars.Visit Hotforex webinars .
Pros and cons.
This broker company has several pros. The first one is that the company is very well-regulated. One can rarely hear complaints from customers. The second one is that this company has low competitive spreads, and this means that customers have high chances of getting good returns. The other one is that the company has been giving its customer attractive bonus and promotions, unlike other companies who have high competitive spreads and little bonuses. The other one is that the MT4 is available in this company, thus giving the traders to manage more than one accounts simultaneously. Lastly, this company has the best customer support team that is always available, and it supports more than 27 languages. The company has only one con. The disadvantage of using this company is that there is no choice of trading platforms, thus denying the traders the freedom of choice.
Fast executionVery low spreads starting at 0 pipsAvailable in MobileMT4/MT5, WebTraderPrice requotes are not offeredHigh-quality customer support serviceNo desk for dealingSubject rules of regulators: CySEC, DFSA, FCA, and FSCA. Protection against negative balance
If you belong to the EU, you’re not entitled to bonuses.You can trade cryptocurrencies, you cannot own them.Forex is the main product.
A critical appraisal of HotForex
With its tagline Honesty, Openness and Transparency, HotForex has earned more than 350000 clients with services offered in as many 22 languages.
HotForex offers quality services in various pairs of currencies, binary options, and CFDs. The broker uses STP technology and leverages strong liquidity providers. By this, the broker can offer interbank dealing in forex for its retail customers.
Note that the broker does not offer services for US-based customers.
The forex broker offers quality customer support services. It offers round the clock support on trading days.
You can get a chance to deal with a wide range of trading instruments including, currency options, CFDs (on stocks), binary options, commodities, and indexes.
HotForex is an STP broker. So, the deals pressed are stringent thanks to the strong liquidity sources and you can start at just 0.2 pips.
The amount of leverage that traders get is 1000:1. The broker also offers promotional bonuses. You can use your debit card to quickly remove funds from your account.
On the official platform, as a trader you can connect with your peers, can talk to them. Making your social trading network wider is likely to open more opportunities.
On the whole, HotForex offers effective online brokerage for traders who use MT4 and MT5. Spreads earned on dealing are competitive and the broker accommodates traders with varying minimal deposit levels thus, giving all a chance. For Micro accounts, the broker offers high rates. The broker is committed to keeping a good rapport with their clients. And, separation of clients funds, SSL encryption technology, being under the radar of regulatory and supervisory bodies in various countries makes HotForex a great option to start your forex trading business with.
As we can see in this video Hotforex PAMM system is excellent for traders that want that other traders trade for them. they manage ther own portfolio and if they make profit and investor will as well. So you can try new HotForex PAMM V2 platform which is excellent and you can very easy open in a minute either investor either PAMM manager account.
Above all, this broker company is considered the best of the best, and it is determined to make sure that its clients are satisfied and more aware about forex and cryptocurrencies. It has been ensuring that this is possible by offering education to the clients who would as well as making sure that maximum spreads are very low. Its clients have access to desktops, browsers and smartphones, and this means that they are always aware of current situations. Those who would like to invest in forex market with this company have the opportunities of being educated before investing. Lastly, this company allows its clients to access several markets of finance including forex and indices. Invest with this company and you will never regret.