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Your New HF Markets review you can read in our recent fresh article.
Are you a newbie in a forex trade? Unable to decide how to move ahead? Are you 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 the HotForex review briefly.
Special offer :
This Forex broker offers a 100% rescue bonus.
Hotforex offers a 100% forex bonus. Complete bonus amount withdrawal is possible under the right conditions. This bonus will protect All live customers from Margin Calls and stopouts during Drawdown periods. One of the new promotions is Increased Leverage for Leverageounts.
The trading bonus can be used only by non-European Union residents. Therefore, potential EU clients can not use forex or any CFD bonus. However, other broker promotions are usually available for all clients.
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 100% credit and a 30% rescue bonus.
Can we trust Hotforex – is it a hotforex scam?
HotForex is a global company with its headquarters in Europe, but it has sub-branches. It provides online forex services and contracts for differences (CFDs). It mainly deals with trading commodities, bonds, and cryptocurrencies such as Bitcoin, exchange-traded funds, and equities. This company has managed to have many clients since the number of people with live accounts with this company is more than 500,000. Besides, the company has over 200 employees worldwide, the countries with branches. The company has also won over 200 industry awards since its founding. It supports more than 27 languages.
Hotforex has a high reputation. HF Markets (SV) Ltd is registered in St. Vincent & the Grenadine as an International Broker Company with 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 consideration point is the high-quality, timely customer support service. It’s this factor that the clients tend to stay with the broker.
Another important thing you must consider is that various authorities regulate the forex trader. These include CySEC (Cyprus), FSC (Mauritius), and 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 tax havens in the world. This may be an issue for traders from Australia, the United States, India, etc. Traders in the United States are under the purview of the CFTC, and they must have the membership of NFA to be eligible to conduct business there.
Regulations and the security of funds.
Since the company is a retail broker, it has offered beautiful trading conditions. This firm has allowed clients to trade a more comprehensive range of instruments such as forex, spot metals, and CFDs on indices, commodities, and shares of famous companies like Facebook, Apple, and Google. This brand operates in different jurisdictions, but the most reliable one is in Europe; its headquarters are in Cyprus and registered under the European Union. Cyprus Securities and Exchange Commission is the body that has licensed this body. Its success has been attributed to tight and well-balanced regulation. Cyprus has strict laws, and firms that want to invest in this combustive should consider high entry capital requirements and low capital maximum leverage.
This has reduced competition from other potential firms. Besides, these firms must keep customer funds in segregated accounts, and they should not be mixed with the company’s operating funds. This makes sure that customers’ funds are safe. Besides, companies regulated by the Cyprus Securities and Exchange Commission have to be members of a body known as Investors Compensation Funds. This body can pay up to 20,000 euros if the company fails to. This firm has been given the authority to operate in South Africa and Mauritius and holds investment licenses from these two countries.
How secure is it?
You will have a separate bank account. Your funds will be held in different banks with assured protection against the negative balance in these accounts. This also 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 protects the company against financial difficulties due to fraud, errors, or negligence.
The Forex broker’s official website is safe and protected with SSL (28-bit SSL ). By this, data encryption happens, and data are protected against unauthorized entities when transmitted on the Internet.
According to many traders, brokers’ reliability is their biggest worry and concern. The worry is connected to the fact that there are many online scam traders, and they cannot imagine losing their hard-earned money. Many traders are often caring when investing with an online broker or platform. However, being reliable is not a concern for traders. This is by considering the number of years this company has existed. Besides, it has established a good and respected reputation in the online trading community. Winning more than 20 industry awards proves that this company has been performing well, and customers have great faith in it and would like to invest in it. The company has also succeeded in Cyprus, a country with very tough and strict rules about investment. The company has more than 200 employees, proving that the firm is ready to perform according to customer expectations. Language is not a barrier since this company supports more than 27 languages, meaning different traders can be served despite their language.
Is HotForex a scam?
As anywhere, HotForex is under the purview of various financial regulatory and supervisory organizations across countries like Cyprus, the UK, South Africa, etc. 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 per 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 platforms), a known internationally acclaimed trading terminal, and it offers a full spectrum of tools and resources for trading. It has built-in technical indicators, an advanced charting package, expert advisors (EA), and extensive back-testing options. On EAs, traders have two options. They can either download the ready-made ones or create theirs, where they proceed to perform all the duties of creating expert advisors, meaning no human is involved. Traders who have invested with HotForex can access MT4 via a mobile app, a desktop app, or a browser. This company also provides traders with MT4 multi-terminal, thus providing a practical and convenient way of managing several accounts simultaneously from a single interface. Since the company has the technology that allows traders to manage several accounts, it is a suitable guarantee since they will not log in and out when managing different accounts.
HotForex MT4 Terminal provides several excellent logical resources. 9-time frames are available for each economical device that provides specific research of price characteristics.
Here you can download the MT4 platform:
Hot Forex platform download
HotForex account types
Since this broker’s dream and mission is to serve the different needs of traders and ensure that these customers are happy, it has different types of accounts, each with unique characteristics.
For traders with a bit of experience, investing under the premium and VIP accounts is better since these accounts allow traders to open positions that are pretty large and on tighter spreads. The minimum amount of money a trader can deposit into these accounts is much more than that in Micro accounts.
The following are the accounts that HotForex offers to its customers.
Types of accounts offered
HotForex offers Micro, Zero, Premium, and Auto accounts.
The minimum deposit you can make is $5 with a leverage of 1:1000. The minimum investment for Auto and Zero accounts is $200, with the highest leverage of 1:500. Spreads vary widely.
Micro account – You can access this account on the MT5, Leveragebile, and WebTrader platforms.
Premium account – This account is ideal for professionals, and the platforms where you can access it are MT5, MT4, mobile, and WebTrader. The spread starts from 1 pip with a maximum leverage of 1:500.
Zero account – The zero account has spread from 0 pips. You need to deposit not less than $200 and will have the 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 must pay swap or rollover fees for holding positioLeverageese accounts. You can get it through premium, Micro, Auto, or Zero accounts.
Demo account – The demo account is provided to all traders wishing to test their strategies or experience under actual market conditions. The opening capital is $100,000. Creating a demo account is pretty simple and easy. You need to click the ‘demo’ button on the top right of the official website of HotForex.
For European Union clients.
• The premium account where a trader must deposit at least 500 dollars. It has a 1:30 leverage, and it spreads from one pip.
• Zero accounts where a trader must deposit a minimum of 100 dollars. It has a leverage of 1:30, and it spreads from 0 pip.
• VIP account where a trader must deposit a minimum of 20,000 dollars. It has 1:30 leverage, and it spreads from 0.2 pips.
• The auto account where a trader must deposit at least 500 dollars. It has 1 30 leverage, and it spreads from one pip.
• Follower account where a trader must deposit a minimLeverage0 dollars. It has 1:30 leverage, and it spreads from 1 pip.
For clients outside the European Union.
• The micro account where a trader must deposit at least 50 dollars. It has 1:1000 leverage, and it spreads from one pip.
• The premium account trader must deposit at least 500 dollars. It has a 1:400 leverage, and it spreads from one pip.
• Zero accounts where a trader must deposit a minimum of 1Leveragers. It has a leverage of 1:200, and it spreads from 0 pip.
• VIP account where a trader must deposit a minimum of 20,000 dollars. It has 1:300 leverage, and it spreads from 0.2 pips.
• The auto account where a trader must deposit at least 500 dollars. It has 1: 400 leverage, and it spreads from one pip.
• PAMM account where traders must deposit a minimum of 250 dollarLeverages 1:300 leverage, and it spreads from I pip.
• Follower account where a trader must deposit a minimum of 100 dollars. It has 1:100 leverage, and it spreads from 1 pip.
Traders should know that European clients can neither apply for PAMM as leverage nor receive a bonus.
HotForex trading of Cryptocurrencies
HotForex has been one platform providing facilities for cryptocurrencies since the invention of these currencies. This company has several cryptocurrencies in its cryptocurrency portfolio. This company currently supports Bitcoin, Ethereum, Litecoin, Dashcoin Bitcoin, and Ripple US dollar.
The trading of cryptocurrencies in this company involves selling financial derivatives such as CFDs. A trader does not use cryptocurrencies to buy or sell goods. However, traders use CFDs that allow them to capitalize on the price movement of cryptocurrency.
The spreads and commissions of HotForex.
This company has both fixed and floating spreads. The spread is comparatively low in the fixed ones, accounting for an average of 1.5 spreads. They account for 1.2 pips on floating spreads, which is relatively attractive. However, we believe the Zero account conditions are considered the most stunning as they spread from 0.1 pips.
The Withdrawal and Deposit options at HotForex.
Clients can use different payment methods to deposit money in their accounts. These methods include 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 payment methods, 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. They transfer funds from their bank account, credit or debit account, or e-wallet account to this company’s account. They request the amount needed to withdraw money from their HotForex account. According to the customer’s preferences, the account manager transfers the required amount to the respective bank, credit or debit card, or e-wallet account.
Promotions and bonuses for non-EU countries
This broker has the best bonus. They include.
• A 100 percent supercharged bonus applies to each deposit of 250 dollars by premium, Currenex, and Islamic holders of accounts with up to 50,000 dollars.
• A 30 percent rescue bonus applies to a deposit of 7,000 dollars. Under any circumstance, the amount cannot be withdrawn.
• A 100 percent credit bonus applies on new deposits or internal transfers to accounts of trade of at least 100 dollars.
Since this company supports more than 27 languages, any customer can get any support and information needs of their language. Besides, customers can communicate with the support at any time of the day and night, and from Monday to Friday, since the support team is always available, they work in shifts. Traders can communicate with support via emails, phone calls, faxes, live chats, and social media sites, including Facebook, Instagram, Twitter, etc. The best thing about the help of this company is that it has several phone lines, which 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 a social media presence. It is very evident. On Facebook, this company has about one million followers, and most of them are active users. Besides, the page is always active and notifies clients about the dollar’s performance in the forex market. This has remained an excellent channel to communicate with the clients and give them the necessary information. This is an advantage to clients.
This company has a system that it uses to educate its clients. It is known as the HotForex education center. It offers e-course programs, and this center aims to teach traders the simple terms of the forex market since clients need to be aware of the kind of business they should invest in. Besides, clients are taught why the forex market exists. Clients will be notified about the incoming seminars and educational events via the resource center and website. Individuals with excellent knowledge of the 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. Second, this company has low, competitive spreads, meaning customers have a high chance of getting good returns. The other is that the company has been giving its customers attractive bonuses and promotions, unlike other companies with highly competitive spreads and few bonuses. The other one is that MT4 is available in this company, allowing the traders to manage multiple accounts simultaneously. Lastly, this company has the best customer support team that is always available and 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 execution and very low spreads starting at 0 pipsAvailable in MobileMT4/MT5, WebTraderPrice requotes are not offered. High-quality customer support service desks for dealing with rules 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 Honesty, Openness, and Transparency tagline, HotForex has earned more than 350000 clients with services offered in 22 languages.
HotForex offers quality services in various currencies, binary options, and CFDs. The broker uses STP technology and leverages strong liquidity providers. 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 provides round-the-clock support on trading days.
You can deal with various 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 leverage traders get is 1000:1. The broker also offers promotional bonuses. You can use your debit card to remove funds from your account quickly.
As a trader, you can connect with your peers on the official platform and talk to them. You are making your social trading network leverages likely to open more opportunities. Overall, 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. The separation of clients’ funds, SSL encryption technology, and being under the radar of regulatory and supervisory bodies in various countries make HotForex a great option to start your forex trading business.
Hotforex auto trading system – PAMM system where experts trade for you (for non-EU clients) :
As we can see in this video, the Hotforex PAMM system is excellent for traders who want other traders to trade for them. They manage their portfolio, and if they profit, investors will also. So you can try the new HotForex PAMM V2 platform, which is excellent, and you can very quickly operate an investor or a PAMM manager account in a minute.
Above all, this broker company is considered the best of the best, and it is determined to ensure that its clients are satisfied and more aware of forex and cryptocurrencies. It has been ensured that this is possible by offering education to the clients, who would make sure that maximum spreads are very low. Its clients have access to desktops, browsers, and smartphones, which means they are always aware of current situations. Those who want to invest in the forex market with this company can be educated before investing. Lastly, this company allows its clients to access financial markets, including forex and indices. Invest in this company, and you will never regret it.Visit HFM. Get Bonus.