|CySEC, FSB, FSC|
|Forex, CFDs, Shares, Indices, Metals and Oil|
Whether you’re new to the world of Forex, or a seasoned trader, it pays to keep on top of the latest reviews. Which is one of the reasons you’ll find plenty of reviews on the web. Here at topratedforexbrokers.com, it is our aim to keep interested parties up to date with the latest information. Forex is an ever changing world, and in order for it to be exciting and hopefully profitable, traders have to keep their fingers on the pulse and stay abreast of the latest news. This HotForex review is honest and full of the latest information, and will help you pick the best Forex broker for your needs.
HotForex is a unified brand name of the HF Markets Group:
- HF Markets (SV) Ltd incorporated in St. Vincent & the Grenadine as an International Broker Company with the registration number 22747 IBC 2015
- HF Markets (Europe) Ltd a Cypriot Investment Firm (CIF) under number HE 277582. Regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 183/12. (ECN not available for EU clients)
- HF Markets Ltd regulated by the Financial Services Commission (FSC) of the Republic of Mauritius, category 1 Global Business No. C110008214 License | Company Reg. No. 094286/GBL
- HF Markets SA (PTY) Ltd is an authorised Financial Service Provider from the Financial Service Board in South Africa, with authorisation number 46632
HotForex provides reliable, award winning trading services to its clients all over the world.
What is HotForex?
HotForex is an award winning Forex and commodities broker. For retail and institutional clients, it provides trading services and facilities. Various account types are offered, along with trading software and tools to assist customers who want to trade Forex and CFDs online. State of the art automated trading platforms are used, giving clients the opportunity to view interband spreads and liquidity.
HotForex is able to offer all the tools and services needed to make a trader’s life easier and to aid in the realization of their trading ambitions. Since the brand first entered the world of Forex trading, it has been scooping awards left, right and center. Here are just a few of them:
- Best Forex News and Analysis Provider 2016 – Mena Dubai FX Show
- Best FX Online Broker 2015 – New Europe Magazine
- Best Customer Service 2015 – European CEO Awards
- Best Forex Broker in China 2013 – CIOT Expo
- Best Online Broker Asia 2013 – World Finance Magazine
- Top 100 Companies – World Finance Magazine
There are a number of valid reasons to choose HotForex as your Forex broker, and the most significant ones are that there is a good opportunity to trade in smaller volumes, which is great if you’re a beginner, or your Forex trading budget is limited. Customer support is excellent, and there are a number of interesting HotForex bonuses available. Spreads are low and deposit limits are minimal.
Different types of account with top-rated HotForex
With HotForex there are more than just a couple of account options, which means that most traders will be able to find one that suits their needs.
For new customers the best option is to open a Micro account. The minimum deposit is just $50, and the maximum leverage (depending on the trading instruments) is 1:1000. Spreads are variable and start at 1 pip.
Forex trader’s with a little more experience under their belt will be better off looking at Premium and VIP accounts. These are an excellent option for traders who prefer to open larger positions on tighter spreads. All three of these accounts require a minimum deposit of $500.
For traders who prefer to trade with a fixed spread there is a Fixed account. This type of account has low fixed spreads, maximum leverage (depending on clients appropriateness assessment) of 1:400, and a minimum deposit of $500.
Social trading has become a very popular option, and with HotForex, traders can connect with more than quarter of a million other traders, following and copying their successful trades. The trading platform that is used is the very popular FxStat.
HotForex offers following accounts to their customers:
Micro Account: $50 deposit, 1:30 leverage*, spreads from 1 pip
Premium Account: $500 deposit, 1:30 leverage*, spreads from 1 pip
Zero Account: $100 deposit, 1:30 leverage*, spread from 0 pip
VIP Account: $20,000 deposit, 1:30 leverage*, spreads from 0.2 pips
Auto Account: $500 deposit, 1:30 leverage*, spread from 1 pip
HF Copy Account: – Strategy Provider $1000, 1:30 leverage*, spread from 1 pip
– Follower $300, 1:30 leverage*, spread from 1 pip
*leverage depends on the trading instruments
Micro Account: $5 deposit, 1:1000 leverage*, spreads from 1 pip
Premium Account: $500 deposit, 1:400 leverage*, spreads from 1 pip
Zero Account: $100 deposit, 1:200 leverage*, spread from 0 pip
Fixed Account: $500 deposit, 1:400 leverage*, fixed spread
VIP Account: $20,000 deposit, 1:300 leverage*, spreads from 0.2 pips
Auto Account: $500 deposit, 1:400 leverage*, spread from 1 pip
PAMM Account: $250 deposit, 1:300 leverage*, spread from 1 pip
HF Copy Account: – Strategy Provider $500, 1:100 leverage*, spread from 1 pip
– Follower $100, 1:100 leverage*, spread from 1 pip
European clients cannot receive Bonuses and apply for the PAMM account.
HotForex offers a variety of trading platforms
With HotForex there are a number of different options, depending on the way you prefer to trade. There is the ever popular MT4 trading platform, available for downloading directly onto a trader’s desktop. This platform is also available in smartphone, PDA, and iPhone versions. In fact, if you prefer to trade while travelling to work, or while sitting in the garden HotForex is very mobile friendly.
The features that make HotForex so attractive
Many of the most popular broker websites offer an education program that is second to none. While HotForex may not concentrate all their efforts on trader education, there is still a more than ample education center, which includes a number of well known trading tools. We didn’t have the time to look at all of them, but we found some of the most notable ones to be the Risk and Reward Calculator, the Pip Value Calculator, and the HotForex App.
The benefits of using HotForex
- Trading conditions are very favorable
- Unlimited earning potential
- Top notch and very informative trading tools
- A wide range of account types to suit different traders
- Platforms that are convenient and easy to navigate
- Trading is safe and secure – Licensed and regulated by CySEC, with clients funds held in segregated accounts
“HotForex has made further efforts to safeguard its liabilities against Clients and other third parties with a Civil Liability insurance program for a limit of €5,000,000, which includes market leading coverage against errors, omissions, negligence, fraud and various other risks that may lead to financial loss. There is no additional cost to our clients for this cover.”
Not available for EU clients.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% – 89% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.