Spreads & Commissions9.5/10
- Low starting capital
- Up to 100% bonus for international traders
- Competitive spreads
- Regulated by the CySEC and the SVGFSA
- Fast and seamless funding/withdrawal
- The bonus is only available for HF Markets Limited traders. EU traders are not eligible for any promotions
- The premium account is expensive
Trade With A HotForex Account For A Reliable Trading Platform
The FX trading industry is quite attractive for an investor, particularly retail traders, where the potential profits and returns can far outweigh any other investments products that are available in the market. It would be a dream for traders to find a reliable company that can not only ensure a fair and transparent trading environment but also provide all the tools that are essential for a good trading experience.
HotForex indeed seems to be a worthy contender for being a top financial broker in the market. Hot Forex has an excellent set of products and a customer-oriented brokerage service that are guaranteed to satisfy even the most stringent trader requirements. Of course, we always analyse a broker’s performance through a hands-on approach, and our Hot Forex review is the best place for you to get all the relevant details about the broker’s Forex and CFD trading services.
HotForex Licensing Information
HotForex regulation and its global presence create a trustable proposition for traders to invest in a mainstream broker with an excellent reputation.The broker is regulated by two agencies, in order to provide streamlined and secure services for both European and global traders. While HotForex is committed to following global standards of regulation, the company is not open for business for traders from countries such as the USA, Canada, Australia and Japan.
HotForex is divided into two companies, the HF Markets Limited and HF Markets (Europe) Limited. The HF Markets Limited takes care of its international operations by operating under the Financial Services Authority of the Saint Vincent & the Grenadines. HotForex caters to a majority of its global retail clients through its SVG branch, which is further helped by the International Business Company status that assures of a low-cost operating environment. However, the legality of HotForex regulatory status with the SVGFSA is not accepted in the European Union, which has led the company to set up an additional brokerage in the EU.
HF Markets Europe Ltd. is regulated by the Cyprus Securities and Exchanges Commission (CySEC), with its headquarters located in Larnaca, Cyprus. As a Cypriot Investment Firm (CIF), HotForex is authorised by the European Economic Area (EEA) agreement and the Markets in Financial Instruments Derivatives (MiFID) to serve as a Forex and CFD brokerage in the entire European Union. However, due to regulatory restrictions, HotForex EU has a few limitations while offering its services to international traders, but its IBC license from the SVG enables the broker to hold clients’ trading capital for the purpose of trading and investment.
HotForex Financial Instruments
Traders have varying needs when it comes to the choice of assets, but most brokers offer access to a wide variety of financial instruments. HotForex also ensures that its traders have access to a range of assets, such as:
Forex: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURDKK, EURGBP, EURHUF, EURJPY, EURNOK, EURNZD, EURPLN, EURRON, EURUSD, EURZAR, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, GBPZAR, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDCNH, USDCZK, USDDKK, USDHKD, USDHUF, USDJPY, USDMXN, USDNOK, USDPLN, USDRON, USDRUB, USDSEK, USDSGD, USDTRY, USDZAR, ZARJPY
Commodities: Cocoa, Coffee, Copper, Cotton, Palladium, Platinum, Sugar
Metals & Energies Futures: UKOIL.S, USOIL.S, XAGEUR, XAGUSD, XAUEUR, XAUUSD, NGAS, UKOIL, USOIL
Indices: AUS200, FRA40, GER30, JPN225, N25, SPA35, SUI20, UK100, USA100, USA30, USA500, EU50.F, FRA40.F, GER30.F, JP225.F, N25.F, SUI20.F, UK100.F, US100.F, US30.F, US500.F, USD Index
Shares: Danone, Moet Hennessy Louis Vuitton SE, Air France – KLM, Bayer AG, Daimler AG, Volkswagen AG, Adidas Salomon, DT Lufthansa, Anglo American, Barclays, British Airways, BP Plc, HSBC Holdings, Lloyds TSB Group Plc., Royal Bank Of Scotland Group Plc., Rio Tinto Group, Tesco Plc, Vodafone, Rolls-Royce, Telefonica, BBVA, Iberdrola, Mapfre, Banco Santander, Bankia SA, Amazon, APPLE, Cisco Systems, eBay, FaceBook Inc, Google, Illumina Inc, Intel, Microsoft, Qualcomm Inc., Teva Pharmaceutical, Netflix, Tesla Motors, Alcoa, ALIBABA, American Express, Bank Of America, Boeing Co, Chevron Corp, Coca Cola Inc., General Electric, Goldman Sachs, Hilton, IBM, MasterCard, McDonalds, Pfizer, Twitter
Bonds: EURO BUND, UK Gilt, US 10YR T note
Cryptocurrencies: Bitcoin US Dollar, Bitcoin Euro, Ethereum vs Euro, Ethereum vs US Dollar, Litecoin US Dollar, Litecoin Euro, Dashcoin Bitcoin.
Normally, we don’t expect brokers from the EU to provide any bonus or any other promotions, but HotForex has surprised us with some of the best offers in the business. HotForex offers up to 100% in bonus money for every deposit, which is supplemented with several other promotions such as loyalty programs, trading contests, HotForex merchandise, and free funding. Obviously, the broker is not permitted to offer any bonus to its EU traders under the CySEC regulation, but the broker can provide some unique rewards such as merchandise, free account funding, and trading competitions. However, if you are not from the EU, it would be advisable for you to open an account at its SVG brokerage, which not only provides an excellent bonus but also lets you trade the markets without any regulatory inconveniences.
HotForex Trading Platform
There are lots of assets to choose from, which makes it equally important for HotForex to ensure that traders can access the Forex market through the best trading platform. Therefore, the company has decided to utilise the services of MetaQuotes by licensing their hugely popular and reliable MT4 trading platform for comprehensive market access. Of course, the popularity of the MetaTrader4 terminal and its widespread reach among traders does help the broker to offer a dependable platform for Forex and CFD trading. It also helps that MT4 is a third-party trading platform, which utilises its extensive user base and market know-how to create one of the best trading platforms in the market.
The MT4 supports a wide variety of built-in and custom indicators, with traders having the ability to install ExpertAdvisors and custom tool as per their preferences. The MT4 is primarily available for both Windows and Mac OS users as an installable interface, but the availability of an MT4 WebTrader certainly gives much more flexibility for traders. The company does not offer any proprietary trading platform, as all orders are executed through the MT4 platform.
HotForex Mobile Apps
HotForex can take advantage of the MT4 mobile versions for Android, Windows, and iOS, which allows smartphone and tablet users to trade the markets through the dedicated apps available on the Google Play Store and the Apple App Store. Alternatively, mobile users can even choose to trade the markets through the MT4 WebTrader but don’t expect the company to offer any proprietary mobile trading platforms.
HotForex Spreads & Trading Features
HotForex is apparently geared towards the retail trading market, which supports low-cost trading. The Micro account option is offered for a low HotForex minimum deposit of $5 for global traders, and a minimum of $50 for EU traders. The Micro account offers exceptionally great trading conditions with HotForex leverage as high as 1:1000 and the spreads starting from just 1 pip on the majors. Of course, the Micro account is a market maker account with dealing desk trading conditions, similar to the second Premium account option that has a slightly higher minimum deposit of $500 and a leverage of 1:400. The HotForex spread for the Premium account is also competitive at 1 pip, but traders have far more flexibility in trading.
The Fixed, Auto and PAMM accounts are all based on the Premium account model, with the minimum deposit requirement varying from $250 to $500. The Auto account is particularly suited for EA traders and for employing trading bots, but the PAMM account is more oriented towards expert traders and money management accounts. Nevertheless, the Zero account is the best choice among all the different options, where the minimum investment is just $100, the leverage is reduced to 1:200, and the spreads start from as low as 0 pip.
HotForex offers a VIP program in the form of the VIP account that has a massive minimum deposit requirement of $20,000. The VIP account offers an acceptable leverage of 1:300, zero pip spread, and premium trading conditions. Regardless of the VIP account benefits, retail traders may be able to enjoy competitive trading conditions through the smaller account packages.
HotForex Deposits & Withdrawals
HotForex processes all deposits without charging any fees for transactions. In effect, the broker reimburses all deposit-related transaction costs through its free funding promotion, but there may be charges while making a withdrawal. The accepted payment methods include Visa, MasterCard, Skrill, Neteller, UnionPay, WebMoney, Fasapay, and bank wire transfer. HotForex is a regulated broker and has a marvellous track record of processing all withdrawals on time. The broker also moves all traders’ funds to segregated accounts, which ensures that your investments are safe with a HotForex trading account.
HotForex Customer Interaction
We are not concerned about the broker’s commitment towards customer satisfaction and the overall trading experience, as the broker has time and again proved its mettle with one of the most professional and reliable customer service policies that exist in the market. Apart from the 24-hour live chat desk, the broker also provides personalised support for countries in EU and other parts of the world, which really makes it one of the best Forex trading companies in the market.
If you are looking for a mainstream Forex broker, HotForex can be one of the best options in the market. The broker offers a trading account for both spectrums of the market, with attractive account packages starting from just $5.
How Is HotForex Regulated?
HotForex is regulated by the CySEC and the SVG FSA.
What Is The Minimum Investment?
The minimum investment is $5 for a Micro account for global traders, while EU clients will have to deposit at least $50.
Is There A Demo Account?
Yes, traders can sign up for up to three free HotForex demo accounts at a time.