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Hotforex Trading Review

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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

Introduction

HotForex was founded by a group of pioneers and market experts in 2010, and is also known as HF Markets Ltd. The company’s vision is to become the Australian market leader through a group of innovative options and tools, that they offer to their clients continuously. The broker’s top priority is customer satisfaction as it considers them partners, and the main reasons for their success.

HotForex has a set of values to suit their objectives of respecting, appreciating, and impressing customers with all that is new. For this purpose, they have built a strong and efficient team, capable of meeting all their requirements in a very qualified way. The company’s headquarters are located in Cyprus, and because of their rapid spread and in response to the market requirements, other branches have been established in South Africa and St. Vincent Island.

During their work, HotForex have been able to win the confidence of thousands of traders around the world. It was distinguished by their creativity in financial technology, offering the best trading platforms and smart tools that have made trading fun and flexible. They have also been able to harvest more than 20 international awards for quality performance, including:

  • Best Forex news and analysis provider 2016.
  • Best new Forex broker South Africa 2016.
  • Best customer service 2015.

HotForex Unique Features – Best Continuous Bonuses and Promotional Offers

The most important feature of HotForex is the smart tools and financial technology used in the high-quality platforms, where orders are executed immediately and without any errors. HotForex also gets liquidity from the best suppliers around the world, allowing traders to execute orders with high flexibility at all times.

The broker invests mainly in their staff, to provide the best services. They have an integrated team of managers, analysts and experts; who provide traders with powerful technical and fundamental analysis on a daily basis, that helps them make profitable trading decisions.

One of HotForex’s main advantages is the bonus and the exciting promotions they offer continuously for real and demo accounts. For example, they give traders a 100% bonus deposit, occasionally execute many competitions, and offer prizes up to $10,000. In order to attract many customers around the world, they offer their clients about 8 different types of real accounts to suit all their needs.

HotForex is one of the best brokers in terms of commissions charged on transactions, where the spread is often less than one pip. They also provide traders with a set of educational tools to suit all levels, from beginners to experts. These tools are presented in a neat and simple way to make it easy for the reader. Such tools include e-books, educational videos, and webinar and seminar sessions.

Trusted and Regulated

HotForex says that integrity and transparency are among its most important values, not just words, but it is a reality that exists in all the broker’s operations and activities. For this reason, since their inception, they made sure to carry out their work in an environment licensed by law. They have obtained a number of licenses from financial institutions as follows:

  • HF Markets (SV) Ltd is registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • The Financial Conduct Authority (FCA).
  • Cyprus Securities and Exchange Commission (CySEC).

Reliability and Safe trading

HotForex is committed to strict clients’ funds’ protection standards. In order to provide a safe trading environment in which the trader is comfortable, the client’s money are separated, and kept in a number of first-class banks, where the broker cannot use it under any condition.

In addition, the broker provides protection from the negative balance in times of extreme fluctuations so that the customer is not obliged to pay it if such case happens. From time to time, they evaluate and identify the risks associated with their operations to ensure that they are able to meet their obligations at any time. Moreover, they commit to insurance programs for a limit of €5,000,000, which includes coverage against errors and negligence and any other risks.

More Than 140 Financial Instruments to Trade

HotForex give their clients the opportunity to trade about 140 different financial instruments divided into 5 groups including Forex. The company allows customers to trade over 50 currency pairs; major and minor. With a leverage up to 1:1000 and low spreads starting from 0.1 pip.

Apart from Forex, HotForex allows its customers to trade shares, indices, commodities and metals with tight competitive spreads and leverage of up to 1:1000. Recently, they have included a number of the most popular cryptocurrencies to trade through their platforms in response to the desire of many traders around the world. An example of these cryptocurrencies is Bitcoin and Ethereum.

Cryptocurrency trading is a form of currency pairs. It is only available for speculation so, it cannot be purchased for storage purposes. The company does not allow the trading of cryptocurrencies on Saturday and Sunday and it charges one dollar on every lot traded.

HotForex offers its customers 8 types of accounts in order to suit their different needs. These accounts differ in terms of minimum deposit and allowed leverage as well as spread. They also offer their customers demo accounts, for an unlimited period of time, in addition to a balance of up to $100,000.

Withdrawal and Deposit – Easy and Safe

Through HotForex, traders can withdraw deposits using different methods, including credit cards, electronic banks and wire transfers. It is also considered to be one of the few companies that allow withdrawals and deposits using Bitcoin.

The process of withdrawal and deposit using all methods is done immediately or in a maximum of 10 minutes, except for wire transfers that require a minimum of two business days. The company allows small transfers with a minimum deposit of only $5. For security-related factors, withdrawals are allowed only in the same way as the deposit.

Trading Software

The broker focuses on investing in financial technology, and this is clearly shown in the trading platforms they use. HotForex relies on the most popular MT4 platform, known for its high efficiency, fast execution of orders and ease of use. They also provide MT4 Multiterminal which enables traders to manage many accounts at the same time.

HotForex offer their customers, who want to use the FIX protocol, a HotForex FIX/API platform powered by the integral. This platform is required to have a minimum deposit of $50,000. It is ideal for companies and customers who wish to develop special trading systems, which are often automatic.

Mobile Trading

The company offers a number of special trading platforms for smartphones, which gives traders the advantage of trading while moving.

  • HotForex iPhone Trader
  • HotForex iPad Trader
  • HotForex Android

The trader can open and close transactions, set take profit and stop loss orders, in addition to, follow up all the latest market developments at any time. All of this is done through an easy and simple interface.

Customer Support

HotForex put customers at the top of their priorities, and do everything possible to get their loyalty. In order to better serve their customers, the website is designed in a user friendly matter, in order for traders to easily get all the information they want. It is available in 27 languages to serve as many people as possible.

HotForex offer customers many other advantages that makes them more advanced. For example, the broker offers customers a HotForex Mastercard that connects them to their account. This enables them to withdraw and deposit instantly, in addition to gifts and ongoing offers for real and demo accounts.

The broker provides technical and fundamental analysis service continuously, and provides educational material that serve traders of all levels. They also provide a special care to social goals, away from only making profits. This is done by sponsoring various social activities and supporting many international institutions such as UNICEF and the Red Cross.

They provide customers with a PAMM account, where they can participate in one of the successful strategies, when opening an account for $250 or more. Professionals can present their strategies for other traders to use for a certain profit rate. They also provide VIP accounts for traders with accounts of $20,000 and more, offering them many advantages such as providing tips and signals for trading by phone, and not charging any commission, only $5 per lot traded.

HotForex maintain the privacy and secrecy of their customer data. They do not give it to any third party without their permission. They use the best technologies to encrypt the website to prevent the theft of such data, especially those relating to payment methods.

Other Services

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

    • HFcopy Account: a social trading that gives an advantage for beginners to copy professionals’ transactions for getting a percentage of profit in return.
    • VPS Hosting: an automated trading service that allows traders to execute their transactions without any interruption at any time and from anywhere.

Things to Improve

As any company working in any field, and because of the renewable needs of the customers, There were some suggestions and improvements demanded by a number of company clients, which include:

      1. Allow trading cryptocurrencies on all weekdays, not just 5 days.

Some customers complained about the delay of withdrawals, which reached more than 3 days, contrary to what is done within the company.

HotForex promised to study all of these suggestions and promised to provide the best possible service. With regard to the delay in withdrawals, the broker said they have nothing to do with it, and that it is caused by third-party service providers.

Final Thoughts

After our deep study, we can say that HotForex is one of the most respected brokerage firms, and they are an ideal trading option with many features. For more information, visit the company’s website and get to know them closely. Or open a demo account to see all the benefits they can offer you.

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