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Hotforex Trading Review

Start Trading Your capital is at risk

Basic Info

Company Name: HotForex
Founded: 2010
Country: Australia
Phone: +442033185978
Regulators: ASIC
Network: HotForex HF Markets Ltd.
Platforms: Android, iPad, iphone, MT4, MT4 MultiTerminal, MT4 WebTerminal, Smartphone Trader
Minimum Deposit: $5

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Funding Methods

Deposit Options: Maestro, Mastercard, mybitwallet, NetTeller, Skrill, Visa, WebMoney, Wire
Withdrawal Options: mybitwallet, NetTeller, Skrill, WebMoney, Wire

Hits and Misses

  • Low minimum deposit
  • Market Experts since 2010
  • Only trading on weekdays

Hot Forex

HotForex – The Experts In Forex Trading

Established in 2011, HotForex has blazed a trail through the world of forex trading. With 200 experienced members of staff at its disposal, the company has the expertise required to get you out of the starting block and into in the exciting world of forex. HotForex supports more than 27 languages and has users from all over the world.

From its commencement 7 years ago, the company has opened 500,000 user accounts which illustrate the popularity of this broker’s forex trading platform. HotForex has won many industry awards over recent years:

  • Best Forex Broker, Latin America 2018 (International Business Magazine)
  • Best Global Forex Trading Education Provider (Global Brands Magazine)
  • The Bizz 2017 Peak Of Success (World Confederation Of Business)
  • HotForex Unique Features – Great Bonuses and Promotional Offers

The intelligent technology that HotForex uses means that orders are executed immediately without delay, and a high amount of liquidity gives traders more flexibility. There are 8 different types of accounts so that a wide variety of customers are catered for.

Another great feature is that HotForex gives traders educational tips on how to improve their performance on the platform. A team of managers and analysts give traders powerful technical and fundamental analysis results daily helping them to make significant profits.

There are many unique offers provided by HotForex such as 100% bonus deposits, and competitions with prizes of $10,000. Prizes on offer for lucky winners also include highly sought after items like Fitbit exercise wear, Amazon tablets, portable speakers and GoPro portables video cameras.

Trusted And Regulated Practices at HotForex

HotForex is a responsible business and as such acts completely with law and regulations.

The company has the following licenses from financial institutions:

  • The Financial Conduct Authority (FCA).
  • Cyprus Securities and Exchange Commission (CySEC).
  • HF Markets (SV) Ltd is registered in St. Vincent & the Grenadine as an International

Business Company with the registration number 22747 IBC 2015.

Reliability and Safety at HotForex

HotForex takes its responsibility for protecting clients’ funds seriously. Fund supplied by customers are kept separate in reputable bank accounts which HotForex does not have access to. The company also provides insurance worth up to €5,000,000 in case of any errors or negligence. The broker is regarded as providing excellent protection for clients.

140+ Financial Instruments To Trade With At HotForex

HotForex allows customers to trade up to 140 financial instruments. You can also trade 50 currency pairs and use the leverage of up to 1:1000 and spreads start at 0.1 pip. Aside from forex, clients can also trade equities, indices, metals and commodities. You can also trade some of the best-known cryptocurrencies such as Bitcoin and Ethereum. However, you cannot store these currencies; you can only speculate on them. Trading of cryptocurrencies is allowed Monday to Friday, and there is a one dollar charge on every lot traded.

Customers benefit from having access to 8 different types of accounts depending on their needs. Each account has a different level of spread, leverage and minimum deposit. For people who want to try out HotForex for the first time, there are demo accounts which have balances up to $100,000 and can be used for an unlimited amount of time.

Does HotForex Have Easy & Safe Withdrawal & Deposit Methods?

HotForex offers its users free account funding, so there are no extra fees associated with depositing to your trading account. The company even goes the extra mile and will refund any charges that your bank imposes for doing a transfer. All that is needed is a receipt of your transaction, and you will be compensated by HotForex.

Traders on HotForex can benefit from using many different methods for withdrawing deposits. You are free to withdraw with a credit card, wire transfers or to your bank account online. Impressively, you can even withdraw and deposit funds using Bitcoin which is not common for forex websites.

Adding or withdrawing funds can take up to 10 minutes but are usually executed immediately. The exception is doing a wire transfer which necessitates at least two working days. You can actually make a deposit as low as $5 which is a very user-friendly option, and a great choice for those just starting out in the world of forex trading. However, it should be stressed that for security reasons you are only able to withdraw in the same way that you deposited funds.

Top Trading Software At Your Fingertips

HotForex uses the industry-standard MT4 platform which has an excellent reputation for being simple to use, quick at executing orders and highly efficient. One added benefit is that HotForex actually provides the MT4 Multiterminal as well, which means traders are able to manage lots of different accounts all at once.

For traders able to make a minimum deposit of $50,000 there is also the option of using the HotForex FIX/API platform. This is particularly useful for companies and high net worth individuals that want to develop special automated trading systems.

Mobile Trading With HotForex

The company offers users the opportunity to make trades using their smartphone or tablet so they can make quick decisions and take advantage of changes in the markets while they are on the move. Below are the ways that you can use HotForex on mobile devices:

  • HotForex iPhone Trader
  • HotForex Android
  • HotForex iPad Trader

These apps let traders close and open trades, arrange profit and loss orders and keep up-to-date with all the changes in the markets. Given the fast-changing nature of forex trading, this is really an essential feature for any platform. Plus, this is all done by using a very simple and easy to use interface.

Exceptional Customer Support

Forex trading websites require good customer support given the nature of the business and HotForex does not disappoint. Customers are valued, and the website is structured in such a way that is easy for them to use. HotForex provides customers with support for 24 hours a day from Monday to Friday. With the platform offering 27 languages, the company has clearly gone out of its way to meet the needs of as many customers as possible and to make it easy for them to trade with confidence.

There is a continuous provision of fundamental and technical analysis available to customers and HotForex also provides educational guides so traders of any level can improve their skills and make more significant gains.

HotForex also takes its responsibilities to society seriously as well and gives money away to worthy causes. For instance, when wildfires broke out in Greece in August 2018, the company donated money to help the communities that had been affected. HotForex also routinely gives cash to great international charities such as Red Cross and UNICEF that do vital humanitarian work around the world.

HotForex knows the data privacy is an important topic today and it is something that all customers value. As such they do not give user data to any third parties without their permission. The website is encrypted to ensure that private data is not stolen, including those all-important payment details.

All customers that open an account with $250 or more can access a PAMM account. Professional traders are able to earn more money by sharing their strategies with other HotForex users. Customers with accounts of at least $20,000 are eligible for VIP accounts which include enticing perks like getting tips to your mobile phone and not paying commission except for $5 per lot traded.

Other Services Provided By HotForex

The company offer customers a group of services that have made it among the most preferred for many traders, these services include:

  • HFcopy Account: a social trading platform that means forex beginners to copy the transactions of professional traders in return for paying them a profit percentage in return
  • VPS Hosting: an automated trading service that enables traders to make their trades using a virtual private server meaning that transactions are completed 24/7 and without any interruptions.

Improvement For Consideration

Given the fact that forex trading is a particularly competitive industry with demanding clients it is realistic for there to be some recommendations for improvements. These include:-

  • Cryptocurrencies should be able to be traded 7 days a week rather than just 5 days as is the rule at present.
  • A few customers have complained that some transactions take slightly longer than advertised.
  • HotForex has given assurances that it will listen to feedback and work on improving customer satisfaction. However, regarding withdrawals, the company has said this is the fault of third-party companies and not HotForex.

Final Thoughts On The HotForex Platform

From having done a lot of research into HotForex, it is clear that it is a respected forex broker and a great option for traders. To learn more, you can visit the HotForex website which has all the information required to make your decision.

A demo account can be opened, and you can see for yourself all the great benefits that come from opening an account.

Start Trading

Your capital is at risk