HotForex Review
HotForex is a highly regulated broker (regulated by FCA, CySEC, FSCA), so we consider it very safe to deposit funds & trade with them. It serves both retail as well as institutional clients in over 20 markets, offering more than 140 asset choices including energies, metals, forex, and CFDs for commodities, popular stocks, and indices.
Advantages
- Their spread is very low. Typically it is 1.2 pips for EUR/USD with Micro & Premium accounts, and 0.3 pips with Zero Account.
- Extensive educational material.
- Real-time performance data.
- Very good customer support available via phone, live chat & emails.
HotForex Trading Platforms
HotForex MT4, the number one platform employed by almost every single broker, HotForex Webtrader is the simple and easy to use web-based platform with the adequate online graphic display, requiring no download. It is also compatible with MetaTrader 4 and is available in many languages. There is also an MT4 platform for Mac users. Other choices include various platforms for mobile trading, for Android, iPhone, Blackberry and iPad. The HotForex mobile apps are a big selling point for traders because they want to have around the clock access to their investments.
HotForex Accounts
These are the accounts that HotForex offers:
EU clients:
| Account Type | Minimum Deposit | Leverage | Spread |
|---|---|---|---|
| Micro Account | $50 | 1:500 | From 1 pip |
| Premium Account | $500 | 1:400 | From 1 pip |
| Zero Account | $100 | 1:200 | From 0 pip |
| Fixed Account | $500 | 1:400 | Fixed Spread |
| Vip Account | $20,000 | 1:300 | From 0.2 pips |
| Auto Account | $500 | 1:400 | From 1 pip |
Non-European clients:
| Account Type | Minimum Deposit | Leverage | Spread |
|---|---|---|---|
| Micro Account | $5 | 1:1000 | From 1 pip |
| Premium Account | $500 | 1:400 | From 1 pip |
| Zero Account | $100 | 1:200 | From 0 pip |
| Fixed Account | $500 | 1:400 | Fixed Spread |
| Vip Account | $20,000 | 1:300 | From 0.2 pips |
| Auto Account | $500 | 1:400 | From 1 pip |
| PAMM Account | $250 | 1:300 | From 1 pip |
Deposits and Withdrawals Options
Generally, HotForex do not charge deposit or Withdrawal fees. The same method used for deposits must be used for withdrawal. Third party transactions are prohibited. Withdrawals submitted before 10am (server time) will be processed on the same working day. The following payment methods are accepted:
- Bank Wire Transfer: Minimum transaction amount is $100 and the maximum is unlimited.
- Visa/Maestro and Master Cards: The minimum transaction amount is $5 while the maximum is $10,000 for Visa/Maestro and $7,500 for Mastercard.
- China UnionPay: The minimum transaction amount is $50 while the maximum is $8,000.
- Neteller/WebMoney: $5 is the least amount accepted while $50,000 is the maximum.
- FasaPay: The minimum amount is $5 while the maximum is $5,000.
- WebMoney: The least amount accepted is $5 while $50,000 is the highest amount accepted per transaction.
Conclusion
This highly regulated broker goes a long way to assure clients of its reliability and safety. It offers a selection of state-of-the-art trading platforms across multiple devices. The provided MT4 and MT5 are sophisticated, well accepted and highly customizable.
HotForex provides advanced tools and technical analysis to their clients. Trader Education in form of webinars, eBooks and videos are available. Furthermore, there are lots of bonuses, promotions and contests to encourage and reward the faithful clients.